Document:

EX-10.1

 Exhibit 10.1 

FIFTH AMENDMENT TO LEASE 

This Fifth Amendment to Lease (this “Fifth Amendment”) is made and entered into by and between KBS NORTH CREEK, LLC, a
Delaware limited liability company (“Landlord”), as successor-in-interest to RREEF America REIT II Corp. KK, a Maryland corporation (“Original Landlord”), and ALDER BIOPHARMACEUTICALS, INC., a Delaware
corporation (“Tenant”), and shall be effective for all purposes as of the date that this Fifth Amendment is fully executed (the “Effective Date”). 

W I T N E S S E T H: 

WHEREAS, Landlord and Tenant are parties to that certain Lease dated for reference purposes August 5, 2005, originally entered into by and
between Original Landlord and Tenant (the “Original Lease”), as amended by (i) that certain First Amendment to Lease dated as of February 1, 2008 (the “First Amendment”), (ii) that certain Second Amendment to Lease
dated as of September 23, 2010 (the “Second Amendment”), (iii) that certain Third Amendment to Lease dated as of August 21, 2013 (the “Third Amendment”), and (iv) that certain Fourth Amendment to Lease dated as of
November 12, 2015 (the “Fourth Amendment”) (the Original Lease, as amended by the First Amendment, the Second Amendment, the Third Amendment and the Fourth Amendment, is hereinafter referred to as the “Lease”),
pursuant to which Tenant leases from Landlord certain premises containing 55,548 square feet of space (the “Current Premises”) consisting of (i) 25,440 square feet of space comprising the entirety of the building located at 11804
North Creek Parkway S, Building 6, Bothell, Washington 98011 (“Building 6”) and (ii) 30,108 square feet of space in the building located at 18702 North Creek Parkway S, Bothell, Washington 98011 (“Building 4”),
which Building 4 and Building 6 are part of that certain building complex known as the North Creek Parkway Center, consisting of six (6) buildings located at 18912, 18916, 18804, 18702, 18706, and 11804 North Creek Parkway, Bothell, Washington (the
“Building Complex”); 
 WHEREAS, Landlord has succeeded to all the right, title and interest of the
“Landlord” under the Lease as successor-in-interest to Original Lease; and 
 WHEREAS, the Suite 100 Expansion Premises (as
defined below) is currently occupied by a third party, [Teledyne] (the “Existing Tenant”), pursuant to the terms of an existing office lease between Landlord and the Existing Tenant (the “Existing Lease”); and 

WHEREAS, Landlord and Tenant desire to expand the “Premises” (as such term is used in the Lease), extend the Term of the Lease and
further amend the Lease, as more particularly described hereinbelow; 
 NOW, THEREFORE, pursuant to the foregoing, and in consideration of
the mutual covenants and agreements contained herein and in the Lease, the receipt and sufficiency of which are hereby acknowledged, the Lease is hereby amended as follows: 
  

	1.	Defined Terms. All capitalized terms used herein shall have the same meaning as defined in the Lease, unless otherwise defined in this Fifth Amendment. 

	2.	Extension of the Term of the Lease. Landlord and Tenant hereby agree to extend the Term of the Lease (stipulated to expire on July 31, 2018) for an additional period of sixty (60) months the “Fourth
Extension Term”), commencing on August 1, 2018 (the “Fourth Extension Commencement Date”) and continuing through and expiring on July 31, 2023 (the “Fourth Extension Termination Date”), upon and subject to
all of the existing terms of the Lease, except as otherwise hereinafter provided. 

  

	3.	Existing Tenant. Landlord and Tenant acknowledge and agree that Landlord’s delivery of the Suite 100 Expansion Premises (as hereinafter defined) to Tenant under this Fifth Amendment is expressly
conditioned upon Existing Tenant’s vacating and surrendering the Suite 100 Expansion Premises to Landlord in compliance with the Existing Lease and Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery
Condition (as defined in Paragraph 4(a) below), which is anticipated to occur on or about February 1, 2017 (with the date on which the Existing Tenant actually vacates and surrenders the Suite 100 Existing Premises to Landlord and Landlord delivers
the Suite 100 Existing Premises to Tenant being referred to herein as the “Existing Tenant Surrender Date”). 

  

	4.	Expansion of Premises. The parties hereby agree that the “Premises” (as such term is used in the Lease) shall be expanded in accordance with the terms set forth below: 

 

	 	(a)	Suite 100 Expansion Premises. Effective on and as of the earlier to occur of (i) the date that Tenant, or any person occupying any of the Suite 100 Expansion Premises with Tenant’s permission, commences
ordinary business operations from the Suite 100 Expansion Premises, or (ii) one hundred eighty (180) days following the Existing Tenant Surrender Date (such earlier date being referred to herein as the (the “Suite 100 Expansion
Date” and estimated to occur on or about August 1, 2017) and continuing throughout the Fourth Extension Term, the Current Premises shall be expanded to include that certain 13,152 rentable square feet of space on the first (1st) floor of Building 4, currently designated as Suite 100, as further depicted on Exhibit “A-1” attached hereto (the “Suite 100 Expansion
Premises”). Landlord shall deliver the Suite 100 Expansion Premises to Tenant in its then current “as-is”, “where-is” condition; provided, however, that Landlord shall ensure the Suite 100 Expansion Premises is
delivered in broom clean, good condition, with any water tanks removed and floor area resurfaced, with consistent concrete flooring similar the other portions of the Suite 100 Expansion Premises, and free of any personal property not owned by Tenant
(the “Suite 100 Delivery Condition”), on the Existing Tenant Surrender Date upon and subject to all of the existing terms of the Lease, except as otherwise hereinafter provided. 

 

	 	(b)	 Suite 110 Expansion Premises. If Tenant timely delivers the Tenant’s Expansion Notice (defined
below) to Landlord, then Landlord shall promptly use commercially reasonable efforts to relocate the tenant (currently Merit Mechanical     ) (“Suite 110 Current Tenant”) occupying that certain 16,015 rentable
square feet of space on the first floor of Building 4 currently designated as Suite 110, as further depicted on Exhibit “A-2” attached hereto (the “Suite 110 Expansion Premises”) to other space
within the Building Complex in accordance 

  
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with the terms and provisions of such existing lease (the “Merit Existing Lease”), within nine (9) months of Tenant’s timely delivery of the Tenant’s Expansion
Notice. Upon the vacation of the Suite 110 Expansion Premises by the Suite 110 Current Tenant in accordance with the Merit Existing Lease, Landlord shall deliver the Suite 110 Expansion Premises to Tenant in its then existing “as-is”
condition; provided, however, that Landlord shall ensure the Suite 110 Expansion Premises are delivered in broom clean, good condition, and free of any personal property not owned by Tenant (such condition being the “Suite 110 Delivery
Condition” and such delivery date being the “Suite 110 Delivery Date”). Effective on and as of the earlier to occur of (i) the date that Tenant, or any person occupying any of the Suite 110 Expansion Premises with
Tenant’s permission, commences ordinary business operations from the Suite 110 Expansion Premises, or (ii) one hundred eighty (180) days following the Suite 110 Delivery Date (such earlier date being referred to herein as the (the
“Suite 110 Expansion Date”) and continuing for the remainder of the Fourth Extension Term, the “Premises” (as such term is used in the Lease) shall be expanded to include that certain Suite 110 Expansion Premises, upon and
subject to all of the existing terms of the Lease, except as otherwise hereinafter provided. The period from the Suite 110 Expansion Date through the Fourth Extension Termination Date shall be hereinafter known as the “Suite 110
Expansion Term”. The term “Tenant’s Expansion Notice” shall mean written notice from Tenant to Landlord that Tenant is irrevocably exercising its option to expand into all of the Suite 110 Expansion Premises,
which shall be delivered to Landlord at least nine (9) calendar months in advance of the date Tenant intends to take possession of the Suite 110 Expansion Premises. For purposes of clarification, if Tenant’s Expansion Notice is not
irrevocable, or if such written notice does not state that Tenant is expanding into all of the Suite 110 Expansion Premises, then in any such event the Tenant’s Expansion Notice shall be null and void, and Tenant shall not have the right to
expand into the Suite 110 Expansion Premises in accordance with this Section 4(b) of this Fifth Amendment. 

  

	 	(c)	Confirmation of Premises. Following the Suite 100 Expansion Date, the Current Premises and the Suite 100 Expansion Premises shall collectively hereinafter be known as the “Premises” and
shall contain a total of 68,700 rentable square feet of space in Building 4 and Building 6. If Tenant timely delivers the Tenant’s Expansion Notice, then following the Suite 110 Expansion Date, the “Premises” shall contain
a total of 84,715 rentable square feet of space in Building 4 and Building 6 being comprised of the Current Premises, the Suite 100 Expansion Premises and the Suite 110 Expansion Premises. Upon the Suite 100 Expansion Date and/or if applicable,
the Suite 110 Expansion Date, Landlord may provide a commencement certificate to Tenant, which Tenant shall execute and return within twenty (20) days after receipt, in order to acknowledge the date upon which the respective expansion date
occurred. Tenant’s failure to execute and return such commencement certificate within the applicable twenty (20) day period shall be deemed to be Tenant’s approval of the applicable commencement certificate and the expansion date set
forth therein. Landlord’s failure to send such commencement certificate shall have no effect on the expansion date. 

  
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	5.	Annual Rent.

  

	 	(a)	Current Premises. Tenant shall continue to pay Annual Rent for the Current Premises in accordance with the existing terms and provisions of the Lease applicable thereto; provided, however, notwithstanding
anything in the Lease to the contrary, commencing on and as of the February 1, 2017 and continuing through the expiration of the Fourth Extension Term (ending on July 31, 2023), Tenant shall pay Annual Rent for the Current Premises (being the
Building 6 Current Premises and the Building 4 Current Premises) in the following amounts: 

  

	 	(i)	Building 6 Current Premises. Tenant shall pay Annual Rent for the Building 6 Current Premises (containing 25,440 rsf) as follows: 

 

					
	 Period
	  	Rate/Rsf/Annum
for 25,440 rsf	  	Monthly Installment
	 02/01/2017 – 01/31/2018
	  	$18.25, NNN	  	$38,690.00, NNN
	 02/01/2018 – 01/31/2019
	  	$18.80, NNN	  	$39,856.00, NNN
	 02/01/2019 – 01/31/2020
	  	$19.36, NNN	  	$41,043.20, NNN
	 02/01/2020 – 01/31/2021
	  	$19.94, NNN	  	$42,272.80, NNN
	 02/01/2021 – 01/31/2022
	  	$20.54, NNN	  	$43,544.80, NNN
	 02/01/2022 – 01/31/2023
	  	$21.16, NNN	  	$44,859.20, NNN
	 02/01/2023 – 07/31/2023
	  	$21.79, NNN	  	$46,194.80, NNN

  

	 	(ii)	Building 4 Current Premises. Tenant shall pay Annual Rent for the Building 4 Current Premises (containing 30,108 rsf) as follows: 

 

					
	 Period
	  	Rate/Rsf/Annum
for 30,108 rsf	  	Monthly Installment
	 02/01/2017 – 01/31/2018
	  	$17.75, NNN	  	$44,534.75, NNN
	 02/01/2018 – 01/31/2019
	  	$18.28, NNN	  	$45,864.52, NNN
	 02/01/2019 – 01/31/2020
	  	$18.83, NNN	  	$47,244.47, NNN
	 02/01/2020 – 01/31/2021
	  	$19.39, NNN	  	$48,649.51, NNN
	 02/01/2021 – 01/31/2022
	  	$19.97, NNN	  	$50,104.73, NNN
	 02/01/2022 – 01/31/2023
	  	$20.57, NNN	  	$51,610.13, NNN
	 02/01/2023 – 07/31/2023
	  	$21.19, NNN	  	$53,165.71, NNN

  

	 	(b)	Suite 100 Expansion Premises. In addition to the Annual Rent for the Current Premises set forth in Paragraph 5(a) above, commencing on and as of the Suite 100 Expansion Date (estimated to occur on or
about August 1, 2017) and continuing through the Fourth Extension Termination Date, Tenant shall also pay Annual Rent for the Suite 100 Expansion Premises (containing 13,152 rsf) in the following amounts: 

 

					
	 Period
	  	Rate/Rsf/Annum
for 13,152 rsf	  	Monthly Installment
	 Suite 100 Expansion Date – 01/31/2018
	  	$17.75, NNN*	  	$19,454.00, NNN*
	 02/01/2018 – 01/31/2019
	  	$18.28, NNN	  	$20,034.88, NNN
	 02/01/2019 – 01/31/2020
	  	$18.83, NNN	  	$20,637.68, NNN
	 02/01/2020 – 01/31/2021
	  	$19.39, NNN	  	$21,251.44, NNN
	 02/01/2021 – 01/31/2022
	  	$19.97, NNN	  	$21,887.12, NNN
	 02/01/2022 – 01/31/2023
	  	$20.57, NNN	  	$22,544.72, NNN
	 02/01/2023 – 07/31/2023
	  	$21.19, NNN	  	$23,224.24, NNN

  

	*	provided, however, such Monthly Installments of Annual Rent shall be abated for the first (1st) four (4) full calendar months following the Suite 100 Expansion Date.

  
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	 	(c)	Suite 110 Expansion Premises. In addition to the Annual Rent for (i) the Current Premises (as set forth in Paragraph 5(a) above), and (ii) the Suite 100 Expansion Premises (as set forth in
Paragraph 5(b) above), commencing on and as of the Suite 110 Expansion Date and continuing through the expiration of the Fourth Extension Termination Date if Tenant timely delivers the Tenant’s Expansion Notice, Tenant shall also pay
Annual Rent for the Suite 110 Expansion Premises (containing 16,015 rsf) in the following amounts: 

  

					
	 Period
	  	Rate/Rsf/Annum
for 16,015 rsf	  	Monthly Installment
	 Suite 110 Expansion Date – 01/31/2018
	  	$17.75, NNN*	  	$23,688.85, NNN*
	 02/01/2018 – 01/31/2019
	  	$18.28, NNN	  	$24,396.18, NNN
	 02/01/2019 – 01/31/2020
	  	$18.83, NNN	  	$25,130.20, NNN
	 02/01/2020 – 01/31/2021
	  	$19.39, NNN	  	$25,877.57, NNN
	 02/01/2021 – 01/31/2022
	  	$19.97, NNN	  	$26,651.63, NNN
	 02/01/2022 – 01/31/2023
	  	$20.57, NNN	  	$27,452.38, NNN
	 02/01/2023 – 07/31/2023
	  	$21.19, NNN	  	$28,279.82, NNN

  

	*	provided, however, such Monthly Installments of Annual Rent shall be abated for the first (1st) four (4) full calendar months following the Suite 110 Expansion Date.

  

	6.	 Tenant’s Proportionate Share of Expenses and Taxes. Throughout the remainder of
the Term of the Lease, as extended for the Fourth Extension Term, Tenant shall continue to pay for all items of additional rent, including, without limitation, Tenant’s Proportionate Share of Expenses and Tenant’s Proportionate Share of
Taxes for the Current Premises, in accordance with the provisions of the Lease applicable thereto. Commencing on the Suite 100 Expansion Date, Tenant shall also pay for all items of additional rent, including, without limitation, Tenant’s
Proportionate Share of Expenses and Tenant’s Proportionate Share of Taxes, for the Suite 100 Expansion Premises in accordance with the provisions of the Lease applicable thereto, and for the purposes of calculating Tenant’s Proportionate
Share of Expenses and Tenant’s Proportionate Share of Taxes for the Suite 100 Expansion Premises, the Tenant’s Proportionate Share for the Suite 100 Expansion Premises only shall be 22.0905% (13,152 rsf/59,537 rsf) with respect to Building
4 and 6.4063% (13,152 rsf/205,298 rsf) with respect to the Building Complex. If Tenant timely delivers the Tenant’s Expansion Notice, then commencing on the Suite 110 Expansion Date, Tenant shall also pay for all items of additional rent,
including, without limitation, Tenant’s Proportionate Share of Expenses and Tenant’s Proportionate 

  
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Share of Taxes, for the Suite 110 Expansion Premises in accordance with the provisions of the Lease applicable thereto, and for the purposes of calculating Tenant’s Proportionate Share of
Expenses and Tenant’s Proportionate Share of Taxes for the Suite 110 Expansion Premises, the Tenant’s Proportionate Share for the Suite 110 Expansion Premises only shall be 26.8993% (16,015 rsf/59,537 rsf) with respect to Building 4 and
7.8009% (16,015 rsf/205,298 rsf) with respect to the Building Complex.

  

	7.	Condition of the Premises. Notwithstanding anything in the Lease to the contrary, Tenant is currently in possession of the Current Premises and Tenant hereby accepts the Current Premises throughout the Term
of the Lease, as extended by the Fourth Extension Term. Commencing on and as of the Suite 100 Expansion Date, and subject to Landlord’s delivery of the Suite 100 Expansion Premises to Tenant in the Suite 100 Delivery Condition, Tenant hereby
accepts the Suite 100 Expansion Premises in its existing “AS-IS”, “WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 100 Expansion
Premises throughout the Fourth Extension Term; provided, however, Landlord agrees to provide Tenant with an improvement allowance of up to Three Hundred Twenty-Eight Thousand Eight Hundred and No/100 Dollars ($328,800.00) ($25.00 per rentable square
foot for 13,152 rsf) (the “Suite 100 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 100 Expansion Improvements (as said term is defined on Exhibit “B-1” attached
hereto) in accordance with and subject to the terms of said Exhibit “B-1”. If Tenant timely delivers the Tenant’s Expansion Notice (defined below) to Landlord, then commencing on and as of the Suite
110 Expansion Date, and subject to Landlord’s delivery of the Suite 110 Expansion Premises to Tenant in the Suite 110 Delivery Condition, Tenant hereby accepts the Suite 110 Expansion Premises in its existing “AS-IS”,
“WHERE-IS” and “WITH ALL FAULTS” condition, and Landlord shall have no obligation whatsoever to refurbish or otherwise improve the Suite 110 Expansion Premises throughout the Suite 110 Expansion Term; provided, however, Landlord
agrees to provide Tenant with an improvement allowance equal to the product of (i) Twenty-Five and No/100 Dollars ($25.00), multiplied by (ii) 16,015 rentable square feet (being the total number of square feet of space contained within the Suite 110
Expansion Premises, multiplied by (iii) a fraction, the numerator of which is the number of months (including partial months) remaining in the then-existing Fourth Extension Term and the denominator of which is 60 (being the total number of months
in the Fourth Extension Term) (the “Suite 110 Expansion Allowance”) to be applied to the cost of Tenant performing the Suite 110 Expansion Improvements (as said term is defined on Exhibit “B-2”
attached hereto) in accordance with and subject to the terms of said Exhibit “B-2”. In addition to the Suite 100 Expansion Allowance and the Suite 110 Expansion Allowance (if Tenant timely delivers the
Tenant’s Expansion Notice to Landlord), and as partial consideration for Tenant executing this Fifth Amendment, Landlord agrees to provide Tenant, within 30 days after the Effective Date, with the sum of Three Hundred Seventy-Seven Thousand
Eight Hundred and Eighty and No/100 Dollars ($377,880.00), payable in one lump sum as reimbursement for the cost of Tenant’s performance of previously completed tenant improvements to the Fourth Amendment Expansion Premises (as
defined in the Fourth Amendment). Tenant acknowledges and agrees that any obligations of Landlord originally existing in the Lease to complete leasehold improvements and/or furnish allowance(s) with respect to the Current Premises have been
completed and/or satisfied in their entirety, and any provisions in the Lease providing for such obligations are hereby null and void and of no further force or effect.

  
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	8.	Building 4 Lobby. If Tenant timely delivers the Tenant’s Expansion Notice to Landlord, then commencing on the Suite 110 Expansion Date and for so long as Tenant is leasing all of Building 4, then
Tenant, at Tenant’s sole cost and expense, shall have the right to (i) utilize the first floor Building common area lobby of Building 4 as its main reception area (“Reception Area”), and (ii) install a card reader system on all
exterior doors to the Premises for after hours entry (“Card Reader System”); provided, however, Tenant’s rights under this Section 8 to utilize the Building 4 common area lobby for the Reception Area and the installation of the
Card Reader System shall be subject to Landlord’s prior written approval and consent (not to be unreasonably withheld, conditioned or delayed), including, without limitation, Landlord’s reasonable approval of all alterations, improvements
and/or plans for the common area lobby and exterior doors of Building 4. Additionally, Tenant hereby acknowledges and agrees that it shall cooperate in good faith with Landlord to address any questions or issues raised by Landlord relating to
Tenant’s utilization of the Building 4 common area lobby and the installation of the Card Reader System. Tenant shall protect, defend, indemnify and hold harmless Landlord from and against any and all claims, damages, liabilities, costs or
expenses of every kind and nature (including, without limitation, reasonable attorney’s fees) imposed upon or incurred by or asserted against Landlord arising out of Tenant’s use, installation, maintenance, repair, replacement or operation
of (i) the common area lobby of Building 4 as a Reception Area, or (ii) the Card Reader System, except, in each case, to the extent caused by or arising from the gross negligence or willful misconduct of Landlord or its agents, employees or
contractors. 

  

	9.	 Building 4 Mechanical and Maintenance. If Tenant timely delivers the Tenant’s Expansion Notice
to Landlord, then, subject to Landlord’s approval regarding the location, size, means and method of installation, maintenance and repair, such approval not to be unreasonably withheld, delayed or conditioned, commencing on the Suite 110
Expansion Date and for so long as Tenant is occupying all of Building 4, Tenant, at Tenant’s sole cost and expense, shall have the right to (i) place, maintain and repair the mechanical/HVAC equipment on the Building 4 roof or an a concrete
slab adjacent to the Premises (“Mechanical/HVAC Equipment”), (ii) maintain and repair the Honeywell access control system for the Premises (“Honeywell System”), and (iii) manage the Building 4 monthly inspections of
balcony areas and fire extinguisher recertification (“Monthly Inspections”). Landlord agrees to provide Tenant with direct access to any roof areas necessary for maintenance and repair obligations in the prior sentence.
Notwithstanding the foregoing, any entry onto the roof of Building 4 shall be subject to the following: (a) applicable governmental laws; (b) the right of Landlord to supervise any roof penetrations; (c) Landlord’s reasonable approval of all
plans and specifications for the Mechanical/HVAC Equipment and all connecting cables from the roof of Building 4 to the Premises; (d) compliance with the conditions of any roof bond maintained by Landlord on Building 4; and (e) the Mechanical/HVAC
Equipment not being visible at street level. Tenant shall be responsible for the repair of any damage to any portion of Building 4 caused by Tenant’s installation, use, repair, maintenance, replacement or operation of the Mechanical/HVAC
Equipment, the Honeywell System or 

  
 7 

	 	
the Monthly Inspections. Tenant shall not have the right to remove the Mechanical/HVAC Equipment or the Honeywell System from Building 4. Tenant shall only use Landlord’s approved
roofing contractors for any installation, maintenance, repairs, additions and/or replacements of any Mechanical/HVAC Equipment on the roof of Building 4. Any such contractors performing the Monthly Inspections and/or the installation,
maintenance, repair and/or replacement of the Honeywell System shall satisfy Landlord’s insurance and indemnification requirements prior to performing any work. Tenant shall protect, defend, indemnify and hold harmless Landlord from and
against any and all claims, damages, liabilities, costs or expenses of every kind and nature (including, without limitation, reasonable attorney’s fees) imposed upon or incurred by or asserted against Landlord arising out of Tenant’s
installation, maintenance, repair, replacement use or operation of the Mechanical/HVAC Equipment, the Honeywell System or the Monthly Inspections, except, in each case, to the extent caused by or arising from the gross negligence or willful
misconduct of Landlord or its agents, employees or contractors. 

  

	10.	 Exterior Building Signage. As of the Effective Date, subject to Landlord’s approval regarding
the location, size, means and method of installation, maintenance and repair, such approval not to be unreasonably withheld, delayed or conditioned, Tenant, at Tenant’s sole cost and expense, shall have the right to install the signage as
substantially shown on Exhibit “D” hereto (the “Exterior Building Sign”) on the exterior of the Building, provided that Landlord, acting reasonably, approves the manner of installation,
maintenance, repair and replacement of the Exterior Building Sign (including all structural engineering and aesthetic aspects thereof). Landlord and Tenant shall agree upon the exact location where the Exterior Building Sign is to be installed,
and upon request by either party, the other party shall evidence such agreement in writing. The engineering, manufacture, installation, maintenance and removal of, and the procurement of all required approvals for, the Exterior Building Sign
shall be at Tenant’s sole cost and expense. The installation of the Exterior Building Sign shall be in compliance with all laws, covenants, restrictions and any applicable Building rules and regulations. Prior to the manufacturing or
installing the Exterior Building Sign, Tenant shall submit to Landlord, for Landlord’s approval which shall not be unreasonably withheld, delayed or, except as expressly provided herein, conditioned, a detailed drawing indicating the size,
layout, design, configuration, lettering and/or graphics and color of the proposed Exterior Building Sign, together with the proposed location where the Exterior Building Sign is to be installed. Tenant shall install, repair, maintain, and
remove the Exterior Building Sign with contractors approved by Landlord. Any such contractors shall satisfy Landlord’s insurance and indemnification requirements prior to performing any work. Tenant agrees that the installation,
maintenance, repair and removal of the Exterior Building Sign shall be at Tenant’s sole risk. Tenant, at Tenant’s sole cost and expense, agrees to maintain the Exterior Building Sign in good condition and repair and, within ten (10)
business days following the expiration of the Lease Term or the earlier termination of this Lease or Tenant’s right of possession under this Lease, Tenant shall remove the Exterior Building Sign at its sole cost and expense. In the event
Tenant fails to repair or remove the Exterior Building Sign after notice, Landlord shall have the right to repair or remove the Exterior Building Sign, as the case may be, and Tenant shall reimburse Landlord on demand for all costs incurred by
Landlord in connection therewith, plus an additional 

  
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charge equal to ten percent (10%) of such costs incurred by Landlord as a coordination fee, and upon any such removal Landlord shall have the right to dispose of the same in any manner Landlord
so desires without any liability to Tenant therefor. Tenant shall protect, defend, indemnify and hold harmless Landlord from and against any and all claims, damages, liabilities, costs or expenses of every kind and nature (including, without
limitation, reasonable attorney’s fees) imposed upon or incurred by or asserted against Landlord arising out of Tenant’s installation, maintenance, repair, replacement or use of the Exterior Building Sign, except to the extent caused by or
arising from the gross negligence or willful misconduct of Landlord or its agents, employees or contractors.. 

  

	11.	Right of First Refusal. Landlord hereby grants to Tenant a right of first refusal in accordance with and subject to the terms and conditions of Exhibit “C” attached
hereto and incorporated herein for all purposes.

  

	12.	Renewal Option. Tenant shall continue to have the option to renew the Term of the Lease beyond the Fourth Extension Term in accordance with and subject to the terms and conditions set forth in Exhibit
B attached to the Third Amendment, as amended by Paragraph 9 of the Fourth Amendment; provided, however, that said Exhibit B as amended is hereby further amended so that all references to the “Third Extension Term” shall be
amended to be the “Fourth Extension Term”. 

  

	13.	No Preferential Rights or Options. Except for the renewal option described in Paragraph 9 of the Fourth Amendment and Paragraph 12 of this Fifth Amendment, the right of first offer set forth in
Paragraph 10 of the Fourth Amendment and Exhibit C attached thereto, and the right of first refusal set forth in Paragraph 11 of this Fifth Amendment and Exhibit “C” attached hereto,
notwithstanding anything contained in the Lease to the contrary, Landlord and Tenant stipulate and agree that Tenant has no preferential rights or options under the Lease, as herein amended, such as any rights of renewal, expansion, reduction,
refusal, offer, purchase, termination, relocation or any other such preferential rights or options, such rights originally set forth in the Lease, being hereby null and void and of no further force or effect. 

 

	14.	Installment Payable Upon Execution. On the Existing Tenant Surrender Date, Tenant shall pay to Landlord the sum of $19,454.00, which shall be applied towards the first month of Annual Rent, Tenant’s
Proportionate Share of Expenses and Tenant’s Proportionate Share of Taxes that become due for the Suite 100 Expansion Premises (until such amount is exhausted). 

 

	15.	Brokers. Landlord and Tenant each warrant that they have had no dealings with any broker or agent other than Kidder Matthews and Flinn Ferguson (collectively, the “Brokers”) in connection
with the negotiation or execution of this Fifth Amendment, and each of Landlord and Tenant agrees to indemnify and hold harmless the other party from and against any and all costs, expenses, or liability for commissions or other compensations or
charges claimed by any broker or agent, other than the Brokers, with respect to this Fifth Amendment. 

  
 9 

	16.	Miscellaneous. With the exception of those terms and conditions specifically modified and amended herein, the herein referenced Lease shall remain in full force and effect in accordance with all its terms
and conditions. In the event of any conflict between the terms and provisions of this Fifth Amendment and the terms and provisions of the Lease, the terms and provisions of this Fifth Amendment shall supersede and control. 

 

	17.	Counterparts/Facsimiles. This Fifth Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of such counterparts shall constitute one agreement. To
facilitate execution of this Fifth Amendment, the parties may execute and exchange telefaxed or e-mailed counterparts of the signature pages and such counterparts shall serve as originals. 

[SIGNATURE PAGE TO FOLLOW] 

  
 10 

 SIGNATURE PAGE TO FIFTH AMENDMENT TO LEASE 

BY AND BETWEEN KBS NORTH CREEK, LLC, AS LANDLORD, 

AND ALDER BIOPHARMACEUTICALS, INC., AS TENANT 

IN WITNESS WHEREOF, Landlord and Tenant, acting herein by duly authorized individuals, have caused these presents to be executed as of the
dates set forth below, to be effective for all purposes, however, as of the Effective Date set forth herein. 
  

					
	 LANDLORD:

	
	 KBS NORTH CREEK, LLC,

	 a Delaware limited liability company

		
	By:	 	KBS Capital Advisors, LLC,
		 	a Delaware limited liability company,
		 	its authorized agent
			
		 	By:	 	/s/ Mark Brecheen
		 		 	Mark Brecheen,
		 		 	Senior Vice President
			
		 	Date:	 	        11-16        , 2016
			
	 TENANT:
	 		 	
	
	 ALDER BIOPHARMACEUTICALS, INC.,

	 a Delaware corporation

		
	By:	 	/s/ Randall C. Schatzman
	Name:	 	Randall C. Schatzman, Ph.D.
	Title:	 	President & CEO
		
	 Date:
	 	 November 15th,
2016

  
 11 

 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT 

 

A notary public or other officer completing this certificate verifies only the identity of the individual who signed the
document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. 

  

			
	 State of California
	  	 )

	 County of Orange
	  	 )

 On November 18, 2016 before me, B. Arata, Notary Public, personally appeared Mark Brecheen, 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(s), or the entity upon
behalf of which the person(s) acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct. 
 WITNESS my hand and official seal. 
  

			
	Signature	 	/s/ B. Arata

  
 12 

 SIGNATURE PAGE TO FIFTH AMENDMENT TO LEASE 

BY AND BETWEEN KBS NORTH CREEK, LLC, AS LANDLORD, 

AND ALDER BIOPHARMACEUTICALS, INC., AS TENANT 
  

			
	 STATE OF WASHINGTON
	  	 §

		  	 § ss.

	 COUNTY OF KING
	  	 §

 I certify that I know or have satisfactory evidence that Randall C. Schatzman is the person who appeared
before me, and said person acknowledged that he/she signed this instrument, on oath stated that he/she was authorized to execute the instrument and acknowledged it as the President and CEO of ALDER BIOPHARMACEUTICALS, INC., a Delaware
corporation, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. 
 Dated: November 15, 2016 

 

			
	 

	  	 /s/ Marilyn N. Singer

	  	(Signature)
	  	 Marilyn N. Singer

	  	(Print Name)
	  	Notary Public, in and for the State
	  	of WA, residing at Bothell, WA My Commission Expires January 22, 2017

  
 13 

 EXHIBIT “A-1” 

SUITE 100 EXPANSION PREMISES 
  

 

  

					
	 721837039 4

ALDR 2016 11 04
	  	A-1 — 1	  	

 EXHIBIT “A-2” 

SUITE 110 EXPANSION PREMISES 
  

 

  

					
	 721837039 4

ALDR 2016 11 04
	  	A-2 — 1	  	

 EXHIBIT “B-1” 

WORK LETTER 
 THIS
WORK LETTER is attached as Exhibit “B-1” to the Fifth Amendment to Lease between KBS NORTH CREEK, LLC, a Delaware limited liability company, as Landlord, and ALDER BIOPHARMACEUTICALS, INC., a
Delaware corporation, as Tenant, and constitutes the further agreement between Landlord and Tenant as follows: 
 (a) Suite 100 Expansion
Improvements. The leasehold improvements to be constructed by Tenant in the Suite 100 Expansion Premises (the “Suite 100 Expansion Improvements”), at Tenant’s sole cost and expense (except for the Suite 100 Expansion
Allowance, as set forth in Paragraph 7 of this Fifth Amendment, and subject to Paragraph (f) of this Exhibit B-1), shall be constructed in accordance with the Final Plans to be submitted by Tenant and reviewed and approved by
Landlord in accordance with the provisions of Paragraph (b) of this Exhibit B-1. 
 Landlord shall have no obligation to
construct or to pay for the construction of the Suite 100 Expansion Improvements; provided, however, Landlord agrees to contribute toward the cost of construction of the Suite 100 Expansion Improvements the cash sum of up to the Suite 100 Expansion
Allowance. Notwithstanding anything in this Fifth Amendment or in this Work Letter to the contrary, the Suite 100 Expansion Allowance shall be used only for the construction of the Suite 100 Expansion Improvements, and if construction of the
Suite 100 Expansion Improvements is not completed within nine (9) months following the Existing Tenant Surrender Date (the “Construction Termination Date”), then Landlord’s obligation to provide the Suite 100 Expansion
Allowance shall terminate and become null and void, and Tenant shall be deemed to have waived its rights in and to said Suite 100 Expansion Allowance. The Suite 100 Expansion Allowance will be reduced by any consulting or architectural fees
incurred by Landlord. The construction costs that may be reimbursed from the Suite 100 Expansion Allowance shall include only the following: costs of labor, equipment, supplies and materials furnished for construction of the Suite 100
Expansion Improvements; governmental fees and charges for required permits, plan checks, and inspections for the Suite 100 Expansion Improvements; charges of Tenant’s architect and design professionals; and a coordination fee payable to
Landlord equal to [two percent (2%)] of the amount of the Suite 100 Expansion Allowance. No other costs, fees or expenses of the Suite 100 Expansion Improvements shall be reimbursable out of the Suite 100 Expansion Allowance. 

The payment of the Suite 100 Expansion Allowance shall be as follows: 

(i) Payment of Suite 100 Expansion Allowance will be made by Landlord directly to Tenant. Within fifteen (15) days
following Landlord’s receipt and reasonable approval of the Tenant Deliveries (defined below), Landlord shall deliver to Tenant (not more than once each month) a check made out to Tenant in an amount equal to that invoiced amount set forth in
an invoice from Tenant’s Contractor and/or vendors to Landlord setting forth the work on the Suite 100 Expansion Improvements which was completed over the prior thirty (30) day period. In order to evidence that such work on the Suite 100
Expansion Improvements has been completed over the prior thirty (30) day period, each time 

  
 B-1 — 1 

 
that Tenant requests that Landlord fund a portion of the Suite 100 Expansion Allowance to Tenant, Tenant shall deliver to Landlord the following (collectively the “Tenant
Deliveries”): (i) an invoice or invoices evidencing the amount of work on the Suite 100 Expansion Improvements that was completed over the prior thirty (30) day period (standard AIA forms shall be acceptable), (ii) a certificate executed by
Tenant, Tenant’s Contractor or vendors and Landlord’s construction representative indicating that the work deemed completed as set forth in the invoice submitted by Tenant’s Contractor or vendor to Landlord has indeed been completed,
(iii) a lien release in a form satisfactory to Landlord executed by Tenant’s Contractor, which for purposes of the interim draws can be in the form of conditional lien releases in form satisfactory to Landlord, and (iv) Tenant shall not then be
in default of any of the provisions of the Lease. Upon the payment of such invoiced amount, Landlord shall deduct that amount from the remaining portion of the Suite 100 Expansion Allowance. Notwithstanding anything herein to the contrary,
Landlord shall have the right to withhold ten percent (10%) retainage from each request for payment for protection against mechanics’ and materialmens’ liens by subcontractors and suppliers. 

(ii) Once (i) the Suite 100 Expansion Improvements have been completed in accordance with the Final Plans; (ii) Tenant has
delivered to Landlord satisfactory evidence that all mechanics’ lien rights of all contractors, suppliers, subcontractors, or materialmen furnishing labor, supplies or materials in the construction or installation of the Suite 100 Expansion
Improvements have been unconditionally waived, released, or extinguished; (iii) Tenant has delivered to Landlord written evidence satisfactorily substantiating the actual amount of the construction costs of the Suite 100 Expansion Improvements
(standard AIA forms shall be acceptable); (iv) Tenant has delivered to Landlord a final certificate of occupancy for the Suite 100 Expansion Premises, if required; (v) Tenant is not then in default of any of the provisions of the Lease; and (vi)
Tenant has occupied and opened for business at the Suite 100 Expansion Premises, then Landlord shall deliver the remaining ten percent (10%) of the cost of the Suite 100 Expansion Improvements to Tenant. If the actual cost of the Suite 100
Expansion Improvements is less than the Suite 100 Expansion Allowance, then Tenant shall not receive any credit whatsoever for the difference between the actual cost of the Suite 100 Expansion Improvements and the Suite 100 Expansion Allowance. 

(b) Preparation and Review of Plans for the Suite 100 Expansion Improvements. Tenant has retained a space planner
(the “Space Planner”), and the Space Planner has prepared (or will prepare) certain plans, drawings and specifications (the “Temporary Plans”) for the construction of the Suite 100 Expansion Improvements to be
installed in the Suite 100 Expansion Premises by a general contractor selected by Tenant pursuant to this Work Letter. Tenant shall deliver the Temporary Plans to Landlord after the Suite 100 Expansion Date. Landlord shall have five (5)
business days after Landlord’s receipt of the proposed Temporary Plans to review the same and notify Tenant in writing of any comments or required changes, or to otherwise give its approval or disapproval of such proposed Temporary
Plans. Landlord shall not unreasonably withhold, delay or condition its approval of such proposed Temporary Plans. If Landlord fails to give written comments to or approve the proposed Temporary Plans within such five (5) business

  
 B-1 — 2 

 
day period, then Tenant shall provide a written notice to Landlord (“Tenant’s Second Notice”) of Landlord’s failure to respond. Such Tenant’s Second Notice
shall include the following language in all capital letters and bold at the top of such notice: “IN THE EVENT LANDLORD FAILS TO APPROVE OR DISAPPROVE OF THE PROPOSED TEMPORARY PLANS WITHIN FIVE (5) DAYS AFTER RECEIPT OF THIS NOTICE, LANDLORD
SHALL BE DEEMED TO HAVE APPROVED THE TEMPORARY PLANS.” If Landlord fails to approve or disapprove of the proposed Temporary Plans within five (5) days after receipt of Tenant’s Second Notice then Landlord shall be deemed to have
approved such proposed Temporary Plans as submitted. Tenant shall have five (5) business days following its receipt of Landlord’s comments and objections to redraw the proposed Temporary Plans in compliance with Landlord’s request and
to resubmit the same for Landlord’s final review and approval or comment within five (5) business days of Landlord’s receipt of such revised plans. Such process shall be repeated until such time as Landlord approves the Temporary
Plans; provided, however, that such additional iterations of the Temporary Plans shall be at Tenant’s sole cost and expense (subject to reimbursement from the Suite 100 Expansion Allowance). Once Landlord has approved the Temporary Plans,
the approved Temporary Plans shall be thereafter known as the “Final Plans”. The Final Plans shall include the complete and final layout, plans and specifications for the Suite 100 Expansion Premises showing all doors, light
fixtures, electrical outlets, telephone outlets, wall coverings, plumbing improvements (if any), data systems wiring, floor coverings, wall coverings, painting, any other improvements to the Premises beyond the shell and core improvements provided
by Landlord and any demolition of existing improvements in the Suite 100 Expansion Premises. The improvements shown in the Final Plans shall (i) utilize Landlord’s building standard materials and methods of construction, (ii) be compatible
with the shell and core improvements and the design, construction and equipment of the Premises, and (iii) comply with all applicable laws, rules, regulations, codes and ordinances. Notwithstanding anything in the Lease or this Fifth Amendment
to the contrary, upon the expiration or earlier termination of the Term of the Lease, Tenant shall not be required to remove any of the Suite 100 Expansion Improvements that Landlord, at the time of Landlord’s approval of the Temporary Plans,
indicated in writing that Tenant would not be required to remove upon the expiration or earlier termination of the Term of the Lease. Tenant, using the Space Planner, shall prepare or cause to be prepared and submitted the Final Plans,
concurrently, and in each case by receipted courier or delivery service, to Landlord’s construction representative (“Landlord’s Construction Representative”), and Landlord’s offices for Landlord’s review and
approval, which shall be consistent with the description of the Suite 100 Expansion Improvements set forth in the Temporary Plans. 
 Each
set of proposed Final Plans furnished by Tenant shall include at least two (2) sets of prints. The Final Plans shall be compatible with the design, construction, and equipment of the Building, and shall be capable of logical measurement and
construction. Unless Landlord shall otherwise agree in writing, the Final Plans shall be signed/stamped by the Space Planner, and shall include (to the extent relevant or applicable) such additional plans reasonably requested by Landlord
related to the Suite 100 Expansion Improvements, including, without limitation, any and all additional plans related to Tenant’s specific use of the Suite 100 Expansion Premises, or as may be required by local city ordinance or building code.

  
 B-1 — 3 

 Tenant shall submit all Final Plans concurrently to Landlord’s construction representative
and offices, as designated above, for Landlord’s review and approval. Landlord shall have five (5) business days after Landlord’s receipt of the proposed Final Plans to review the same and notify Tenant in writing of any comments or
required changes, or to otherwise give its approval or disapproval of such proposed Final Plans. If Landlord fails to give written comments to or approve the proposed Final Plans within such five (5) business day period, then Tenant shall
provide a written notice to Landlord (“Tenant’s Second Final Plans Notice”) of Landlord’s failure to respond. Such Tenant’s Second Final Plans Notice shall include the following language in all capital letters
and bold at the top of such notice: “IN THE EVENT LANDLORD FAILS TO APPROVE OR DISAPPROVE OF THE PROPOSED FINAL PLANS WITHIN FIVE (5) DAYS AFTER RECEIPT OF THIS NOTICE, LANDLORD SHALL BE DEEMED TO HAVE APPROVED THE FINAL
PLANS.” If Landlord fails to approve or disapprove of the proposed Final Plans within five (5) days after receipt of Tenant’s Second Final Plans Notice then Landlord shall be deemed to have approved such proposed Final Plans as
submitted. Tenant shall have five (5) business days following its receipt of Landlord’s comments and objections to redraw the proposed Final Plans in compliance with Landlord’s request and to resubmit the same for Landlord’s
final review and approval or comment within five (5) business days of Landlord’s receipt of such revised plans. Such process shall be repeated as necessary until final approval by Landlord of the proposed Final Plans has been
obtained. Landlord shall not unreasonably withhold, delay or condition its approval of such proposed Final Plans. Landlord may, at any time by written notice given in accordance with the notice provisions of the Lease, change the name
and/or address of the designated Landlord’s Construction Representative to receive plans delivered by Tenant to Landlord. In the event that Tenant disagrees with any of the changes to the proposed Final Plans required by Landlord, then
Landlord and Tenant shall consult with respect thereto and each party shall use all reasonable efforts to promptly resolve any disputed elements of such proposed Final Plans. For purposes hereof, “business days” shall be all calendar
days except Saturdays and Sundays and holidays observed by national banks in the State in which the Premises are situated. 

Notwithstanding the preceding provisions of this Paragraph (b), under no circumstances whatsoever shall (i) any combustible materials be
utilized above finished ceiling or in any concealed space, (ii) any structural load, temporary or permanent, be placed or exerted on any part of the Building without the prior written approval of Landlord, or (iii) any holes be cut or drilled in any
part of the roof or other portion of the Building shell without the prior written approval of Landlord. 
 In the event that Tenant proposes
any changes to the Final Plans (or any portion thereof) after the same have been approved by Landlord, Landlord shall not unreasonably withhold its consent to any such changes, provided the changes do not, in Landlord’s reasonable opinion,
adversely affect the Building structure, systems, or equipment, or the external appearance of the Premises. 
 As soon as the Final Plans
(or a portion thereof sufficient to permit commencement of construction or installation of the Suite 100 Expansion Improvements, if Tenant elects to proceed with a “fast track” construction) are mutually agreed upon, Tenant shall use
diligent efforts to obtain all required permits, authorizations, and licenses from appropriate governmental authorities for construction of the Suite 100 Expansion Improvements (or such portion thereof, as applicable). Tenant shall be solely
responsible for obtaining any business or other license or permit required for the conduct of its business at the Premises. 

  
 B-1 — 4 

 (c) Construction of the Suite 100 Expansion Improvements. Construction or
installation of the Suite 100 Expansion Improvements shall be performed by a licensed general contractor or contractors (the “Tenant’s Contractor,” whether one or more) selected by Tenant and approved by Landlord, which consent
shall not be unreasonably withheld, conditioned or delayed, prior to Tenant soliciting bids from such Tenant’s Contractor for the construction of the Suite 100 Expansion Improvements, pursuant to a written construction contract negotiated and
entered into by and between the Tenant’s Contractor and Tenant and approved by Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. Each such contract shall (i) obligate Tenant’s Contractor to comply
with all rules and regulations of Landlord relating to construction activities in the Building, (ii) name Landlord as an additional indemnitee under the provisions of the contract whereby the Tenant’s Contractor holds Tenant harmless from and
against any and all claims, damages, losses, liabilities and expenses arising out of or resulting from the performance of such work, (iii) name Landlord as a beneficiary of (and a party entitled to enforce) all of the warranties of the Tenant’s
Contractor with respect to the work performed thereunder and the obligation of the Tenant’s Contractor to replace defective materials and correct defective workmanship for a period of not less than one (1) year following final completion of the
work under such contract, (iv) evidence the agreement of the Tenant’s Contractor that the provisions of the Lease shall control over the provisions of the contract with respect to distribution or use of insurance proceeds, in the event of a
casualty during construction, and (v) evidence the waiver and release by the Tenant’s Contractor of any lien or right to assert a lien on all or any portion of the fee estate of Landlord in and to the Building as a result of the work performed
or to be performed thereunder (and obligating the Tenant’s Contractor to include a substantially similar release and waiver provision in all subcontracts and purchase orders entered under or pursuant to the contract). 

Tenant acknowledges and understands that all roof penetrations involved in the construction of the Suite 100 Expansion Improvements must be
performed by the Landlord’s Building roofing contractor. All reasonable costs, fees and expenses incurred with such contractor in properly performing such work shall be a cost of the Suite 100 Expansion Improvements, payable in accordance
with the provisions of this Exhibit B-1. Tenant or Tenant’s Contractor shall be responsible for all water, gas, electricity, sewer or other utilities used or consumed at the Premises during the construction of the Suite 100
Expansion Improvements. 
 Tenant specifically agrees to carry, or cause the Tenant’s Contractor to carry, during all such times as the
Suite 100 Expansion Improvements are being performed, (a) builder’s risk completed value insurance on the Suite 100 Expansion Improvements, in an amount not less than the full replacement cost of the Suite 100 Expansion Improvements, (b) a
policy of insurance covering commercial general liability, in an amount not less than One Million Dollars ($1,000,000.00), combined single limit for bodily injury and property damage per occurrence (and combined single limit coverage of
$2,000,000.00 in the aggregate), and automobile liability coverage (including owned, non-owned and hired vehicles) in an amount not less than One Million Dollars ($1,000,000.00) combined single limit (each person, each accident), and endorsed to
show Landlord as an additional insured, and (c) workers’ compensation insurance as required by law, endorsed to show a waiver of subrogation by the insurer to any claim the Tenant’s Contractor may have against Landlord. Tenant shall
not commence construction of the Suite 100 Expansion Improvements until Landlord has issued to Tenant a written authorization 

  
 B-1 — 5 

 
to proceed with construction after Tenant has delivered to Landlord’s Construction Representative (i) certificates of the insurance policies described above, (ii) copies of all permits
required for construction of the Suite 100 Expansion Improvements and a copy of the permitted Final Plans as approved by the appropriate governmental agency, and (iii) a copy of each signed construction contract for the Suite 100 Expansion
Improvements (a copy of each subsequently signed contract shall be forwarded to Landlord’s construction representative without request or demand, promptly after execution thereof and prior to the performance of any work thereunder). All of
the construction work shall be the responsibility of and supervised by Tenant. 
 (d) Requirements for Tenant’s
Work. All of Tenant’s construction with respect to the Suite 100 Expansion Premises shall be performed in substantial compliance with this Exhibit B-1 and the Final Plans therefor previously approved in writing by Landlord (and
any changes thereto approved by Landlord as herein provided), and in a good and workmanlike manner, utilizing only new materials. All such work shall be performed by Tenant in strict compliance with all applicable building codes, regulations
and all other legal requirements. All materials utilized in the construction of the Suite 100 Expansion Improvements work must be confined to within the Suite 100 Expansion Premises. All trash and construction debris resulting from the
construction of the Suite 100 Expansion Improvements in the Suite 100 Expansion Premises will be removed from the Building Complex at the sole cost and expense of Tenant; provided, however, during the construction of the Suite 100 Expansion
Improvements (and only during the construction of the Suite 100 Expansion Improvements), Landlord has agreed to permit Tenant to place a dumpster at the Building Complex for the sole purpose of storing Tenant’s trash and construction debris,
subject to Landlord’s prior approval of the location of the dumpster and schedule of collection. Landlord shall have the right at all times to monitor the work for compliance with the requirements of this Exhibit B-1. If Landlord
determines that any such requirements are not being strictly complied with, Landlord may immediately require the cessation of all work being performed in or around the Suite 100 Expansion Premises or the Building Complex until such time as Landlord
is satisfied that the applicable requirements will be observed. Any approval given by Landlord with respect to Tenant’s construction or the Temporary Plans or Final Plans therefor, and/or any monitoring of the Suite 100 Expansion
Improvements by Landlord, shall not make Landlord liable or responsible in any way for the condition, quality or function of such matters or constitute any undertaking, warranty or representation by Landlord with respect to any of such matters. 

(e) No Liens; Indemnification. Tenant shall have no authority to place any lien upon the Premises, or the Building, or any portion
thereof or interest therein, nor shall Tenant have any authority in any way to bind Landlord, and any attempt to do so shall be void and of no effect. If, because of any actual or alleged act or omission of Tenant, or Tenant’s Contractor,
or any subcontractors or materialmen, any lien, affidavit, charge or order for the payment of money shall be filed against Landlord, the Premises, the Building, or any portion thereof or interest therein, whether or not such lien, affidavit, charge
or order is valid or enforceable, Tenant shall, at its sole cost and expense, cause the same to be discharged of record by payment, bonding or otherwise no later than fifteen (15) days after notice to Tenant of the filing thereof, but in any event
prior to the foreclosure thereof. With respect to the contract for labor or materials for construction of the Suite 100 Expansion Improvements, Tenant acts as principal and not as the agent of Landlord. Landlord expressly disclaims
liability for the cost of labor performed for or supplies or materials furnished to Tenant. Landlord may post one or more “notices of 

  
 B-1 — 6 

 
non-responsibility” for the Suite 100 Expansion Improvements in the Building. No contractor of Tenant is intended to be a third-party beneficiary with respect to the Suite 100 Expansion
Allowance, or the agreement of Landlord to make such Suite 100 Expansion Allowance available for payment of or reimbursement for the costs of construction of the Suite 100 Expansion Improvements. Tenant agrees to indemnify, defend and hold
Landlord harmless from all claims (including all costs and expenses of defending against such claims) arising or alleged to arise from any act or omission of Tenant or Tenant’s agents, employees, contractor, subcontractors, suppliers,
materialmen, architects, designers, surveyors, engineers, consultants, laborers, or invitees, or arising from any bodily injury or property damage occurring or alleged to have occurred incident to any of the work to be performed by Tenant or its
contractors or subcontractors with respect to the Suite 100 Expansion Premises. Any Default by Tenant under this Exhibit B-1 shall constitute a default by Tenant under the Lease for all purposes. Additionally, any approval given by
Landlord with respect to the Suite 100 Expansion Improvements or the Final Plans and/or any monitoring of the construction of the Suite 100 Expansion Improvements by Landlord shall not make Landlord liable or responsible in any way for the
condition, quality or function of such matters or constitute any undertaking, warranty or representation by Landlord with respect to any such matters. 

(f) Substantial Completion. Substantial Completion of construction of the Suite 100 Expansion Improvements shall be defined as (i)
the date upon which the Suite 100 Expansion Improvements are substantially completed in accordance with the Final Plans, and (ii) the date upon which a temporary certificate of occupancy (or its equivalent) is issued for the Suite 100 Expansion
Premises by the appropriate governmental authority (if applicable). After the completion of the Suite 100 Expansion Improvements, Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of improvements performed on the
Suite 100 Expansion Premises. The failure of Tenant to take possession of or to occupy the Suite 100 Expansion Premises shall not serve to relieve Tenant of obligations arising under the Lease or this Fifth Amendment or delay the payment of
Rent by Tenant. 

  
 B-1 — 7 

 EXHIBIT “B-2” 

WORK LETTER 
 THIS
WORK LETTER is attached as Exhibit “B-2” to the Fifth Amendment to Lease between KBS NORTH CREEK, LLC, a Delaware limited liability company, as Landlord, and ALDER BIOPHARMACEUTICALS, INC., a
Delaware corporation, as Tenant, and constitutes the further agreement between Landlord and Tenant as follows: 
 (a) Suite 110 Expansion
Improvements. The leasehold improvements to be constructed by Tenant in the Suite 110 Expansion Premises (the “Suite 110 Expansion Improvements”), at Tenant’s sole cost and expense (except for the Suite 110 Expansion
Allowance, as set forth in Paragraph 7 of this Fifth Amendment, and subject to Paragraph (f) of this Exhibit B-2), shall be constructed in accordance with the Final Plans to be submitted by Tenant and reviewed and approved by
Landlord in accordance with the provisions of Paragraph (b) of this Exhibit B-2. 
 Landlord shall have no obligation to
construct or to pay for the construction of the Suite 110 Expansion Improvements; provided, however, Landlord agrees to contribute toward the cost of construction of the Suite 110 Expansion Improvements the cash sum of up to the Suite 110 Expansion
Allowance. Notwithstanding anything in this Fifth Amendment or in this Work Letter to the contrary, the Suite 110 Expansion Allowance shall be used only for the construction of the Suite 110 Expansion Improvements, and if construction of the
Suite 110 Expansion Improvements is not completed within nine (9) months following the Suite 110 Delivery Date (the “Construction Termination Date”), then Landlord’s obligation to provide the Suite 110 Expansion Allowance shall
terminate and become null and void, and Tenant shall be deemed to have waived its rights in and to said Suite 110 Expansion Allowance. The Suite 110 Expansion Allowance will be reduced by any consulting or architectural fees incurred by
Landlord. The construction costs that may be reimbursed from the Suite 110 Expansion Allowance shall include only the following: costs of labor, equipment, supplies and materials furnished for construction of the Suite 110 Expansion
Improvements; governmental fees and charges for required permits, plan checks, and inspections for the Suite 110 Expansion Improvements; charges of Tenant’s architect and design professionals; and a coordination fee payable to Landlord equal to
[two percent (2%)] of the amount of the Suite 110 Expansion Allowance. No other costs, fees or expenses of the Suite 110 Expansion Improvements shall be reimbursable out of the Suite 110 Expansion Allowance. 

The payment of the Suite 110 Expansion Allowance shall be as follows: 

(i) Payment of Suite 110 Expansion Allowance will be made by Landlord directly to Tenant. Within fifteen (15) days
following Landlord’s receipt and reasonable approval of the Tenant Deliveries (defined below), Landlord shall deliver to Tenant (not more than once each month) a check made out to Tenant in an amount equal to that invoiced amount set forth in
an invoice from Tenant’s Contractor and/or vendors to Landlord setting forth the work on the Suite 110 Expansion Improvements which was completed over the prior thirty (30) day period. In order to evidence that such work on the Suite 110
Expansion Improvements has been completed over the prior thirty (30) day period, each time 

  
 B-2 — 1 

 
that Tenant requests that Landlord fund a portion of the Suite 110 Expansion Allowance to Tenant, Tenant shall deliver to Landlord the following (collectively the “Tenant
Deliveries”): (i) an invoice or invoices evidencing the amount of work on the Suite 110 Expansion Improvements that was completed over the prior thirty (30) day period (standard AIA forms shall be acceptable), (ii) a certificate executed by
Tenant, Tenant’s Contractor or vendors and Landlord’s construction representative indicating that the work deemed completed as set forth in the invoice submitted by Tenant’s Contractor or vendor to Landlord has indeed been completed,
(iii) a lien release in a form satisfactory to Landlord executed by Tenant’s Contractor, which for purposes of the interim draws can be in the form of conditional lien releases in form satisfactory to Landlord, and (iv) Tenant shall not then be
in default of any of the provisions of the Lease. Upon the payment of such invoiced amount, Landlord shall deduct that amount from the remaining portion of the Suite 110 Expansion Allowance. Notwithstanding anything herein to the contrary,
Landlord shall have the right to withhold ten percent (10%) retainage from each request for payment for protection against mechanics’ and materialmens’ liens by subcontractors and suppliers. 

(ii) Once (i) the Suite 110 Expansion Improvements have been completed in accordance with the Final Plans; (ii) Tenant has
delivered to Landlord satisfactory evidence that all mechanics’ lien rights of all contractors, suppliers, subcontractors, or materialmen furnishing labor, supplies or materials in the construction or installation of the Suite 110 Expansion
Improvements have been unconditionally waived, released, or extinguished; (iii) Tenant has delivered to Landlord written evidence satisfactorily substantiating the actual amount of the construction costs of the Suite 110 Expansion Improvements
(standard AIA forms shall be acceptable); (iv) Tenant has delivered to Landlord a final certificate of occupancy for the Suite 110 Expansion Premises, if required; (v) Tenant is not then in default of any of the provisions of the Lease; and (vi)
Tenant has occupied and opened for business at the Suite 110 Expansion Premises, then Landlord shall deliver the remaining ten percent (10%) of the cost of the Suite 110 Expansion Improvements to Tenant. If the actual cost of the Suite 110
Expansion Improvements is less than the Suite 110 Expansion Allowance, then Tenant shall not receive any credit whatsoever for the difference between the actual cost of the Suite 110 Expansion Improvements and the Suite 110 Expansion Allowance. 

(b) Preparation and Review of Plans for the Suite 110 Expansion Improvements. Tenant has retained a space planner
(the “Space Planner”), and the Space Planner has prepared (or will prepare) certain plans, drawings and specifications (the “Temporary Plans”) for the construction of the Suite 110 Expansion Improvements to be
installed in the Suite 110 Expansion Premises by a general contractor selected by Tenant pursuant to this Work Letter. Tenant shall deliver the Temporary Plans to Landlord after the Suite 110 Expansion Date. Landlord shall have five (5)
business days after Landlord’s receipt of the proposed Temporary Plans to review the same and notify Tenant in writing of any comments or required changes, or to otherwise give its approval or disapproval of such proposed Temporary
Plans. Landlord shall not unreasonably withhold, delay or condition its approval of such proposed Temporary Plans. If Landlord fails to give written comments to or approve the proposed Temporary Plans within such five (5) business

  
 B-2 — 2 

 
day period, then Tenant shall provide a written notice to Landlord (“Tenant’s Second Notice”) of Landlord’s failure to respond. Such Tenant’s Second Notice
shall include the following language in all capital letters and bold at the top of such notice: “IN THE EVENT LANDLORD FAILS TO APPROVE OR DISAPPROVE OF THE PROPOSED TEMPORARY PLANS WITHIN FIVE (5) DAYS AFTER RECEIPT OF THIS NOTICE, LANDLORD
SHALL BE DEEMED TO HAVE APPROVED THE TEMPORARY PLANS.” If Landlord fails to approve or disapprove of the proposed Temporary Plans within five (5) days after receipt of Tenant’s Second Notice then Landlord shall be deemed to have
approved such proposed Temporary Plans as submitted. Tenant shall have five (5) business days following its receipt of Landlord’s comments and objections to redraw the proposed Temporary Plans in compliance with Landlord’s request and
to resubmit the same for Landlord’s final review and approval or comment within five (5) business days of Landlord’s receipt of such revised plans. Such process shall be repeated until such time as Landlord approves the Temporary
Plans; provided, however, that such additional iterations of the Temporary Plans shall be at Tenant’s sole cost and expense (subject to reimbursement from the Suite 110 Expansion Allowance). Once Landlord has approved the Temporary Plans,
the approved Temporary Plans shall be thereafter known as the “Final Plans”. The Final Plans shall include the complete and final layout, plans and specifications for the Suite 110 Expansion Premises showing all doors, light
fixtures, electrical outlets, telephone outlets, wall coverings, plumbing improvements (if any), data systems wiring, floor coverings, wall coverings, painting, any other improvements to the Premises beyond the shell and core improvements provided
by Landlord and any demolition of existing improvements in the Suite 110 Expansion Premises. The improvements shown in the Final Plans shall (i) utilize Landlord’s building standard materials and methods of construction, (ii) be compatible
with the shell and core improvements and the design, construction and equipment of the Premises, and (iii) comply with all applicable laws, rules, regulations, codes and ordinances. Notwithstanding anything in the Lease or this Fifth Amendment
to the contrary, upon the expiration or earlier termination of the Term of the Lease, Tenant shall not be required to remove any of the Suite 110 Expansion Improvements that Landlord, at the time of Landlord’s approval of the Temporary Plans,
indicated in writing that Tenant would not be required to remove upon the expiration or earlier termination of the Term of the Lease. Tenant, using the Space Planner, shall prepare or cause to be prepared and submitted the Final Plans,
concurrently, and in each case by receipted courier or delivery service, to Landlord’s construction representative (“Landlord’s Construction Representative”), and Landlord’s offices for Landlord’s review and
approval, which shall be consistent with the description of the Suite 110 Expansion Improvements set forth in the Temporary Plans. 
 Each
set of proposed Final Plans furnished by Tenant shall include at least two (2) sets of prints. The Final Plans shall be compatible with the design, construction, and equipment of the Building, and shall be capable of logical measurement and
construction. Unless Landlord shall otherwise agree in writing, the Final Plans shall be signed/stamped by the Space Planner, and shall include (to the extent relevant or applicable) such additional plans reasonably requested by Landlord
related to the Suite 110 Expansion Improvements, including, without limitation, any and all additional plans related to Tenant’s specific use of the Suite 110 Expansion Premises, or as may be required by local city ordinance or building code.

  
 B-2 — 3 

 Tenant shall submit all Final Plans concurrently to Landlord’s construction representative
and offices, as designated above, for Landlord’s review and approval. Landlord shall have five (5) business days after Landlord’s receipt of the proposed Final Plans to review the same and notify Tenant in writing of any comments or
required changes, or to otherwise give its approval or disapproval of such proposed Final Plans. If Landlord fails to give written comments to or approve the proposed Final Plans within such five (5) business day period, then Tenant shall
provide a written notice to Landlord (“Tenant’s Second Final Plans Notice”) of Landlord’s failure to respond. Such Tenant’s Second Final Plans Notice shall include the following language in all capital letters
and bold at the top of such notice: “IN THE EVENT LANDLORD FAILS TO APPROVE OR DISAPPROVE OF THE PROPOSED FINAL PLANS WITHIN FIVE (5) DAYS AFTER RECEIPT OF THIS NOTICE, LANDLORD SHALL BE DEEMED TO HAVE APPROVED THE FINAL
PLANS.” If Landlord fails to approve or disapprove of the proposed Final Plans within five (5) days after receipt of Tenant’s Second Final Plans Notice then Landlord shall be deemed to have approved such proposed Final Plans as
submitted. Tenant shall have five (5) business days following its receipt of Landlord’s comments and objections to redraw the proposed Final Plans in compliance with Landlord’s request and to resubmit the same for Landlord’s
final review and approval or comment within five (5) business days of Landlord’s receipt of such revised plans. Such process shall be repeated as necessary until final approval by Landlord of the proposed Final Plans has been
obtained. Landlord shall not unreasonably withhold, delay or condition its approval of such proposed Final Plans. Landlord may, at any time by written notice given in accordance with the notice provisions of the Lease, change the name
and/or address of the designated Landlord’s Construction Representative to receive plans delivered by Tenant to Landlord. In the event that Tenant disagrees with any of the changes to the proposed Final Plans required by Landlord, then
Landlord and Tenant shall consult with respect thereto and each party shall use all reasonable efforts to promptly resolve any disputed elements of such proposed Final Plans. For purposes hereof, “business days” shall be all calendar
days except Saturdays and Sundays and holidays observed by national banks in the State in which the Premises are situated. 

Notwithstanding the preceding provisions of this Paragraph (b), under no circumstances whatsoever shall (i) any combustible materials be
utilized above finished ceiling or in any concealed space, (ii) any structural load, temporary or permanent, be placed or exerted on any part of the Building without the prior written approval of Landlord, or (iii) any holes be cut or drilled in any
part of the roof or other portion of the Building shell without the prior written approval of Landlord. 
 In the event that Tenant proposes
any changes to the Final Plans (or any portion thereof) after the same have been approved by Landlord, Landlord shall not unreasonably withhold its consent to any such changes, provided the changes do not, in Landlord’s reasonable opinion,
adversely affect the Building structure, systems, or equipment, or the external appearance of the Premises. 
 As soon as the Final Plans
(or a portion thereof sufficient to permit commencement of construction or installation of the Suite 110 Expansion Improvements, if Tenant elects to proceed with a “fast track” construction) are mutually agreed upon, Tenant shall use
diligent efforts to obtain all required permits, authorizations, and licenses from appropriate governmental authorities for construction of the Suite 110 Expansion Improvements (or such portion thereof, as applicable). Tenant shall be solely
responsible for obtaining any business or other license or permit required for the conduct of its business at the Premises. 

  
 B-2 — 4 

 (c) Construction of the Suite 110 Expansion Improvements. Construction or
installation of the Suite 110 Expansion Improvements shall be performed by a licensed general contractor or contractors (the “Tenant’s Contractor,” whether one or more) selected by Tenant and approved by Landlord, which consent
shall not be unreasonably withheld, conditioned or delayed, prior to Tenant soliciting bids from such Tenant’s Contractor for the construction of the Suite 110 Expansion Improvements, pursuant to a written construction contract negotiated and
entered into by and between the Tenant’s Contractor and Tenant and approved by Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. Each such contract shall (i) obligate Tenant’s Contractor to comply
with all rules and regulations of Landlord relating to construction activities in the Building, (ii) name Landlord as an additional indemnitee under the provisions of the contract whereby the Tenant’s Contractor holds Tenant harmless from and
against any and all claims, damages, losses, liabilities and expenses arising out of or resulting from the performance of such work, (iii) name Landlord as a beneficiary of (and a party entitled to enforce) all of the warranties of the Tenant’s
Contractor with respect to the work performed thereunder and the obligation of the Tenant’s Contractor to replace defective materials and correct defective workmanship for a period of not less than one (1) year following final completion of the
work under such contract, (iv) evidence the agreement of the Tenant’s Contractor that the provisions of the Lease shall control over the provisions of the contract with respect to distribution or use of insurance proceeds, in the event of a
casualty during construction, and (v) evidence the waiver and release by the Tenant’s Contractor of any lien or right to assert a lien on all or any portion of the fee estate of Landlord in and to the Building as a result of the work performed
or to be performed thereunder (and obligating the Tenant’s Contractor to include a substantially similar release and waiver provision in all subcontracts and purchase orders entered under or pursuant to the contract). 

Tenant acknowledges and understands that all roof penetrations involved in the construction of the Suite 110 Expansion Improvements must be
performed by the Landlord’s Building roofing contractor. All reasonable costs, fees and expenses incurred with such contractor in properly performing such work shall be a cost of the Suite 110 Expansion Improvements, payable in accordance
with the provisions of this Exhibit B-2. Tenant or Tenant’s Contractor shall be responsible for all water, gas, electricity, sewer or other utilities used or consumed at the Premises during the construction of the Suite 110
Expansion Improvements. 
 Tenant specifically agrees to carry, or cause the Tenant’s Contractor to carry, during all such times as the
Suite 110 Expansion Improvements are being performed, (a) builder’s risk completed value insurance on the Suite 110 Expansion Improvements, in an amount not less than the full replacement cost of the Suite 110 Expansion Improvements, (b) a
policy of insurance covering commercial general liability, in an amount not less than One Million Dollars ($1,000,000.00), combined single limit for bodily injury and property damage per occurrence (and combined single limit coverage of
$2,000,000.00 in the aggregate), and automobile liability coverage (including owned, non-owned and hired vehicles) in an amount not less than One Million Dollars ($1,000,000.00) combined single limit (each person, each accident), and endorsed to
show Landlord as an additional insured, and (c) workers’ compensation insurance as required by law, endorsed to show a waiver of subrogation by the insurer to any claim the Tenant’s Contractor may have against Landlord. Tenant shall
not commence construction of the Suite 110 Expansion Improvements until Landlord has issued to Tenant a written authorization 

  
 B-2 — 5 

 
to proceed with construction after Tenant has delivered to Landlord’s Construction Representative (i) certificates of the insurance policies described above, (ii) copies of all permits
required for construction of the Suite 110 Expansion Improvements and a copy of the permitted Final Plans as approved by the appropriate governmental agency, and (iii) a copy of each signed construction contract for the Suite 110 Expansion
Improvements (a copy of each subsequently signed contract shall be forwarded to Landlord’s construction representative without request or demand, promptly after execution thereof and prior to the performance of any work thereunder). All of
the construction work shall be the responsibility of and supervised by Tenant. 
 (d) Requirements for Tenant’s
Work. All of Tenant’s construction with respect to the Suite 110 Expansion Premises shall be performed in substantial compliance with this Exhibit B-2 and the Final Plans therefor previously approved in writing by Landlord (and
any changes thereto approved by Landlord as herein provided), and in a good and workmanlike manner, utilizing only new materials. All such work shall be performed by Tenant in strict compliance with all applicable building codes, regulations
and all other legal requirements. All materials utilized in the construction of the Suite 110 Expansion Improvements must be confined to within the Suite 110 Expansion Premises. All trash and construction debrisresulting from the
construction of the Suite 110 Expansion Improvements in the Suite 110 Expansion Premises will be removed from the Building Complex at the sole cost and expense of Tenant; provided, however, during the construction of the Suite 110 Expansion
Improvements (and only during the construction of the Suite 110 Expansion Improvements), Landlord has agreed to permit Tenant to place a dumpster at the Building Complex for the sole purpose of storing Tenant’s trash and construction debris,
subject to Landlord’s prior approval of the location of the dumpster and schedule of collection. Landlord shall have the right at all times to monitor the work for compliance with the requirements of this Exhibit B-2. If
Landlord determines that any such requirements are not being strictly complied with, Landlord may immediately require the cessation of all work being performed in or around the Suite 110 Expansion Premises or the Building Complex until such time as
Landlord is satisfied that the applicable requirements will be observed. Any approval given by Landlord with respect to Tenant’s construction or the Temporary Plans or Final Plans therefor, and/or any monitoring of the Suite 110 Expansion
Improvements by Landlord, shall not make Landlord liable or responsible in any way for the condition, quality or function of such matters or constitute any undertaking, warranty or representation by Landlord with respect to any of such matters. 

(e) No Liens; Indemnification. Tenant shall have no authority to place any lien upon the Premises, or the Building, or any portion
thereof or interest therein, nor shall Tenant have any authority in any way to bind Landlord, and any attempt to do so shall be void and of no effect. If, because of any actual or alleged act or omission of Tenant, or Tenant’s Contractor,
or any subcontractors or materialmen, any lien, affidavit, charge or order for the payment of money shall be filed against Landlord, the Premises, the Building, or any portion thereof or interest therein, whether or not such lien, affidavit, charge
or order is valid or enforceable, Tenant shall, at its sole cost and expense, cause the same to be discharged of record by payment, bonding or otherwise no later than fifteen (15) days after notice to Tenant of the filing thereof, but in any event
prior to the foreclosure thereof. With respect to the contract for labor or materials for construction of the Suite 110 Expansion Improvements, Tenant acts as principal and not as the agent of Landlord. Landlord expressly disclaims
liability for the cost of labor performed for or supplies or materials furnished to Tenant. Landlord may post one or more “notices of 

  
 B-2 — 6 

 
non-responsibility” for the Suite 110 Expansion Improvements on the Building. No contractor of Tenant is intended to be a third-party beneficiary with respect to the Suite 110 Expansion
Allowance, or the agreement of Landlord to make such Suite 110 Expansion Allowance available for payment of or reimbursement for the costs of construction of the Suite 110 Expansion Improvements. Tenant agrees to indemnify, defend and hold
Landlord harmless from all claims (including all costs and expenses of defending against such claims) arising or alleged to arise from any act or omission of Tenant or Tenant’s agents, employees, contractor, subcontractors, suppliers,
materialmen, architects, designers, surveyors, engineers, consultants, laborers, or invitees, or arising from any bodily injury or property damage occurring or alleged to have occurred incident to any of the work to be performed by Tenant or its
contractors or subcontractors with respect to the Suite 110 Expansion Premises. Any Default by Tenant under this Exhibit B-2 shall constitute a default by Tenant under the Lease for all purposes. Additionally, any approval given by
Landlord with respect to the Suite 110 Expansion Improvements or the Final Plans and/or any monitoring of the construction of the Suite 110 Expansion Improvements by Landlord shall not make Landlord liable or responsible in any way for the
condition, quality or function of such matters or constitute any undertaking, warranty or representation by Landlord with respect to any such matters. 

(f) Substantial Completion. Substantial Completion of construction of the Suite 110 Expansion Improvements shall be defined as (i)
the date upon which the Suite 110 Expansion Improvements are substantially completed in accordance with the Final Plans, and (ii) the date upon which a temporary certificate of occupancy (or its equivalent) is issued for the Suite 110 Expansion
Premises by the appropriate governmental authority (if applicable). After the completion of the Suite 110 Expansion Improvements, Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of improvements performed on the
Suite 110 Expansion Premises. The failure of Tenant to take possession of or to occupy the Suite 110 Expansion Premises shall not serve to relieve Tenant of obligations arising under the Lease or this Fifth Amendment or delay the payment of
Rent by Tenant. 

  
 B-2 — 7 

 EXHIBIT “C” 

RIGHT OF FIRST REFUSAL 

THIS RIGHT OF FIRST REFUSAL is attached as Exhibit “C” to the Fifth Amendment to Lease between KBS
NORTH CREEK, LLC, a Delaware limited liability company, as Landlord, and ALDER BIOPHARMACEUTICALS, INC., a Delaware corporation, as Tenant, and constitutes the further agreement between Landlord and Tenant as follows: 

(a) “Offered Space” shall mean any leasable space located in Building 1, Building 2, Building 3 or Building 5, located in the
Building Complex, which contains more than 8,000 rentable square feet of contiguous space. 
 (a) Provided that as of the date of the giving
of the Offer Notice, (x) Tenant is the Tenant originally named herein, (y) Tenant actually occupies all of the Premises demised under the Lease as of the Effective Date of this Fifth Amendment and any space subsequently added to the Premises, and
(z) no event of default or event which but for the passage of time or the giving of notice, or both, would constitute an event of default has occurred and is continuing, if at any time during the Lease Term any portion of the Offered Space is vacant
and unencumbered by any rights of any third party, and if Landlord intends to enter into a lease (the “Proposed Lease”) for all or a portion of the Offered Space with anyone (a “Proposed Tenant”) other than the
tenant then occupying such space (or its affiliates, subtenants or assignees), then Landlord shall first offer to Tenant the right to lease such Offered Space upon all the terms and conditions of the Proposed Lease for the Offered
Space. Notwithstanding anything to the contrary in the Lease, the right of first refusal granted to Tenant under this Exhibit C shall be subject and subordinate to (i) the rights of all tenants at the Project under existing leases, and
(ii) the herein reserved right of Landlord to renew or extend the term of any lease with the tenant then occupying such space (or any of its affiliates, subtenants or assignees), whether pursuant to a renewal or extension option in such lease or
otherwise. 
 (b) Such offer shall be made by Landlord to Tenant in a written notice (hereinafter called the “Offer Notice”)
which offer shall include a copy of the third party offer to lease which Landlord is willing to accept, designating the space being offered and specifying the terms for such Offered Space. Tenant may accept the offer set forth in the Offer
Notice only by delivering to Landlord an unconditional acceptance (hereinafter called “Tenant’s Notice”) of such offer within five (5) business days after delivery by Landlord of the Offer Notice to
Tenant. Time shall be of the essence with respect to the giving of Tenant’s Notice. If Tenant does not accept (or fails to timely accept) an offer made by Landlord pursuant to the provisions of this Exhibit C with respect to
the Offered Space designated in the Offer Notice, or if Tenant timely accepts such offer and fails to execute the Amendment (defined below) within thirty (30) days after the delivery of the Offer Notice, then Landlord shall be under no further
obligation with respect to such space by reason of this Exhibit C, subject to Paragraph (e) below. In order to send the Offer Notice, Landlord does not need to have negotiated a complete lease with the Proposed Tenant but may
merely have agreed upon the material economic terms for the Proposed Lease, and Tenant must make its decision with respect to the Offered Space as long as it has received a copy of the third party offer to lease which Landlord is willing to accept.

  
 C-1 

 (c) Tenant must accept all Offered Space offered by Landlord at any one time if it desires to
accept any of such Offered Space and may not exercise its right with respect to only part of such space. In addition, if Landlord desires to lease more than just the Offered Space to one tenant, Landlord may offer to Tenant pursuant to the
terms hereof all such space which Landlord desires to lease, and Tenant must exercise its rights hereunder with respect to all such space and may not insist on receiving an offer for just the Offered Space. 

(d) If Tenant at any time declines any Offered Space offered by Landlord, Tenant shall be deemed to have irrevocably waived all further rights
under this Exhibit C, and Landlord shall be free to lease the Offered Space to the Proposed Tenant including on terms which may be less favorable to Landlord than those set forth in the Proposed Lease; provided, however, (i) if Landlord has
not entered into a lease for all or any portion of such Offered Space with a third party within one hundred eighty (180) days following the delivery by Landlord to Tenant of the Offer Notice, then, so long as Landlord is not engaged in good faith
negotiations with a third party to lease all or a portion of such Offered Space, the right of first refusal granted to Tenant in this Exhibit C shall once again be invoked and (ii) in the event that within the one hundred eighty (180) days
following the delivery by Landlord to Tenant of the Offer Notice, the terms of the Proposed Lease become materially less favorable to Landlord than those set forth in the Offer Notice (it being understood and agreed that “materially less
favorable” shall mean that the net present value of the material economic terms of the modified transaction is at least ten percent (10%) less than the net present value of the material economic terms set forth in the Offer Notice), Landlord
agrees that Tenant’s rights under this Exhibit C with respect to such Offered Space shall be reinstated and Landlord shall provide Tenant with an Offer Notice if, as, and to the extent, required under the terms of this Exhibit C.

 In the event that Tenant exercises its rights to any Offered Space pursuant to this Exhibit C, then Landlord shall prepare, and Tenant shall
execute, an amendment to the Lease which confirms such expansion of the Premises and the other provisions applicable thereto (the “Amendment”). 

  
 C-2 

 EXHIBIT “D” 

EXTERIOR BUILDING SIGN 

  
 D-1Exhibit 4.1

 

“PRE-PAID” COMMON STOCK PURCHASE
WARRANT

 

Magnegas
corporation

 

	Warrant Shares: 5,102,041	Initial Exercise Date: November 21, 2016
	 	Issue Date: November 21, 2016

 

THIS SERIES “PRE-PAID”
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, Alpha
Capital Anstalt or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations
on exercise and the conditions hereinafter set forth, at any time on or after November 21, 2016 (the “Initial Exercise
Date”) and on or prior to the close of business on until the date that all Warrant Shares have been exercised in full
(the “Termination Date”) but not thereafter, to subscribe for and purchase from MagneGas Corporation,
a Delaware corporation (the “Company”), up to 5,102,041 shares (as subject to adjustment hereunder, the “Warrant
Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise
Price, as defined in Section 2(b).

 

Section 1.          Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement
(the “Purchase Agreement”), dated November 16, 2016, among the Company and the purchasers signatory thereto.

 

Section 2.          Exercise.

 

a)        Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or
agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing
on the books of the Company) of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise in the form annexed
hereto. Within three (3) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise
Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United
States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise.
No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization)
of any Notice of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to
physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and
the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation
within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant
resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering
the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased.
The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases.
The Company shall deliver any objection to any Notice of Exercise within one (1) Trading Day of receipt of such notice. The
Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph,
following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder
at any given time may be less than the amount stated on the face hereof.

 

    	 	1	 

     

    

 

b)       Exercise
Price. The remaining exercise price per share of the Common Stock under this Warrant shall be $0.01, subject to adjustment
hereunder (the “Exercise Price”). THE COMPANY ACKNOWLEDGES AND AGREES THAT THE FULL PURCHASE PRICE FOR THE EXERCISE
OF THIS WARRANT, LESS $0.01 PER WARRANT SHARE, WAS PAID AT THE CLOSING BY THE HOLDER.

 

c)       Cashless
Exercise. If at any time after the six-month anniversary of the Closing Date, there is no effective Registration Statement
registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also
be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled
to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = the
last VWAP immediately preceding the time of delivery of the Notice of Exercise giving rise to the applicable “cashless exercise”,
as set forth in the applicable Notice of Exercise (to clarify, the “last VWAP” will be the last VWAP as calculated
over an entire Trading Day such that, in the event that this Warrant is exercised at a time that the Trading Market is open, the
prior Trading Day’s VWAP shall be used in this calculation);

 

(B) = the
Exercise Price of this Warrant, as adjusted hereunder; and

 

(X) =
the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant
if such exercise were by means of a cash exercise rather than a cashless exercise.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and the holding period
of the Warrant Shares being issued may be tacked on to the holding period of this Warrant.  The Company agrees not to
take any position contrary to this Section 2(c).

 

    	 	2	 

     

    

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market,
the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding
to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all
other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith
by the Purchasers of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company, the fees
and expenses of which shall be paid by the Company.

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c). Notwithstanding anything herein to the contrary, in no event shall a cashless exercise require the company
to do a net cash settlement of this Warrant.

 

d)           Mechanics of Exercise.

 

i.            Delivery
of Warrant Shares Upon Exercise. Warrant Shares purchased hereunder shall be transmitted by the Transfer Agent to the Holder
by crediting the account of the Holder’s or its designee’s balance account with The Depository Trust Company through
its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and
either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant
Shares by the Holder or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale limitations
pursuant to Rule 144, and otherwise by physical delivery of a certificate, registered in the Company’s share register in
the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise
to the address specified by the Holder in the Notice of Exercise by the date that is one (1) Trading Day after the delivery to
the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice
of Exercise the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with
respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares; provided payment
of the aggregate Exercise Price (other than in the case of a Cashless Exercise) is received within three Trading Days of delivery
of the Notice of Exercise. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice
of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as
a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the
applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated
damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or
Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long
as this Warrant remains outstanding and exercisable.

 

    	 	3	 

     

    

 

ii.          Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii.         Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.         Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder
is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise
purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated
receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount,
if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common
Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required
to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such
purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent
number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver
to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise
and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000
to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such
purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the
Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the
Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right
to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific
performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon
exercise of the Warrant as required pursuant to the terms hereof.

 

    	 	4	 

     

    

 

v.           No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

vi.         Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;
provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder
and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees
to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day
electronic delivery of the Warrant Shares.

 

vii.        Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

    	 	5	 

     

    

 

e)        Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after
exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other
Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution
Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes
of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution
Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination
is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining,
nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii)
exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation,
any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein
beneficially owned by the Holder or any of its Affiliates or Attribution Parties.  Except as set forth in the preceding sentence,
for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act
and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing
to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible
for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e)
applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties)
and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder
may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual
report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent
written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon
the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder
the number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall
be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder
or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported.
The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon
notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that
the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions
of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the
61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof)
which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or
supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall
apply to a successor holder of this Warrant.

 

    	 	6	 

     

    

 

f)         Issuance
Restrictions. If the Company has not obtained Shareholder Approval, then the Company may not issue upon exercise of this Warrant
a number of shares of Common Stock, which, when aggregated with any Shares or Warrant Shares, would exceed 10,422,6451,
subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions
of the Common Stock that occur after the date of the Purchase Agreement (such number of shares, the “Issuable Maximum”).
The Holder and the holders of the other Warrants issued pursuant to the Purchase Agreement shall be entitled to a portion of the
Issuable Maximum equal to the quotient obtained by dividing (x) the Holder’s original Subscription Amount by (y) the aggregate
original Subscription Amount of all holders pursuant to the Purchase Agreement.

 

Section 3.          Certain
Adjustments.

 

a)        [RESERVED]

 

b)        If
the Company or any Subsidiary thereof, as applicable, at any time while this Warrant is outstanding, shall sell or grant any option
to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any
option to purchase or other disposition) any Common Stock or Common Stock Equivalents, at an effective price per share less than
the Adjusted Exercise Price then in effect (such lower price, the “Base Share Price” and such issuances collectively,
a “Dilutive Issuance” and the “Adjusted Exercise Price” shall be the lesser of the Per Share
Purchase Price and the last Base Share Price used to adjust this Warrant, if any)(it being understood and agreed that if the holder
of the Common Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments,
reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share
which are issued in connection with such issuance, be entitled to receive shares of Common Stock at an effective price per share
that is less than the Exercise Price, such issuance shall be deemed to have occurred for less than the Adjusted Exercise Price
on such date of the Dilutive Issuance at such effective price), then simultaneously with the consummation of each Dilutive Issuance
and without payment of any additional consideration, the number of Warrant Shares issuable hereunder shall be increased to equal
A*B/C where:

 

 

1.          19.99%
of the number of shares of Common Stock outstanding on the Trading Day immediately preceding the date of the Purchase Agreement

 

    	 	7	 

     

    

 

A = number of Warrant Shares
issuable hereunder immediately prior to the date of the Dilutive Issuance

B = the Adjusted Exercise Price
immediately prior to the date of the Dilutive Issuance

C = the Base Share Price as
to such Dilutive Issuance.

 

Notwithstanding
the foregoing, no adjustments shall be made, paid or issued under this Section 3(b) in respect of (i) an Exempt Issuance or (ii)
to an Adjusted Exercise Price that is less than 20% of the closing bid price of the Common Stock as reported on the Nasdaq consolidated
tape on the Trading Day immediately prior to the date of execution of the Purchase Agreement.  The Company shall notify the
Holder, in writing, no later than the Trading Day following the issuance or deemed issuance of any Common Stock or Common Stock
Equivalents subject to this Section 3(b), indicating therein the applicable issuance price, or applicable reset price, exchange
price, conversion price and other pricing terms (such notice, the “Dilutive Issuance Notice”).  For purposes
of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant to this Section 3(b), upon the occurrence
of any Dilutive Issuance, the Holder is entitled to receive a number of Warrant Shares based upon the Base Share Price regardless
of whether the Holder accurately refers to the Base Share Price in the Notice of Exercise. If the Company enters into a Variable
Rate Transaction or No-Minimum Variable Transaction, as the case may be, despite the prohibition thereon in the Purchase Agreement,
the Company shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise
price at which such securities may be converted or exercised.

 

c)        Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder
exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase
Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in
the Holder exceeding the Beneficial Ownership Limitation).

 

    	 	8	 

     

    

 

d)        Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a "Distribution"),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in
such Distribution (provided, however, to the extent that the Holder's right to participate in any such Distribution
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution
to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if
ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

    	 	9	 

     

    

 

e)        Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant
is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise
of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to
apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, at the Holder’s option,
exercisable at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction, the Company
or any Successor Entity (as defined below) shall issue to the Holder shares of Common Stock in exchange for Warrant within ten
Trading Days after such request (or, if later, on the effective date of the Fundamental Transaction); provided, however,
the number of shares issued hereunder shall not exceed the maximum number of Warrant Shares issuable upon a cash exercise of this
Warrant on such date; provided, further, that to the extent any such exercise shall otherwise exceed the Beneficial
Ownership Limitation, such issuances shall be held in abeyance until such date that the issuance shall not cause the Holder to
exceed the Beneficial Ownership Limitation. The number of shares of Common Stock issued to the Holder (or Alternate Consideration,
as applicable) shall equal the Black Scholes Value of the remaining unexercised portion of this Warrant on the effective date of
such Fundamental Transaction divided by the price used in clause (C) below used to determine the Black Scholes Value. “Black
Scholes Value” means the value of this Warrant based on the Black and Scholes Option Pricing Model obtained from the
“OV” function on Bloomberg, L.P. (“Bloomberg”) determined as of the day of consummation of the applicable
Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate
for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination
Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg
as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying
price per share used in such calculation shall be the sum of the price per share being offered in cash, if any, plus the value
of any non-cash consideration, if any, being offered in such Fundamental Transaction and (D) a remaining option time equal to the
time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date. The Company
shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”)
to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance
with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder
and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder,
deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially
similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such
Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this
Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an
exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative
value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such
number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant
immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance
to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted
for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction
Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and
power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents
with the same effect as if such Successor Entity had been named as the Company herein.

 

    	 	10	 

     

    

 

f)        Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g)       Notice
to Holder.

 

i.            Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

    	 	11	 

     

    

 

ii.         Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email
to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least
20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to
be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption,
rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or
share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock
of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon
such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice
or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified
in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant
to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the
date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

Section 4.         Transfer
of Warrant.

 

a)       Transferability.
Subject to compliance with any applicable securities laws, this Warrant and all rights hereunder (including, without limitation,
any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the
Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto
duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of
such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this
Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder
shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full,
in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder delivers
an assignment form to the Company assigning this Warrant full.
The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant
Shares without having a new Warrant issued.

 

    	 	12	 

     

    

 

b)        New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial
Exercise Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)         Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

Section 5.          Miscellaneous.

 

a)         No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights
as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in
Section 3.

 

b)         Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c)         Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding
Trading Day.

 

    	 	13	 

     

    

 

d)         Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be
listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by
the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

 

Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking
any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

    	 	14	 

     

    

 

e)        Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Purchase Agreement.

 

f)         Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered and the Holder does
not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)         Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding the fact that all
rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of
this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be
sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of
appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its
rights, powers or remedies hereunder.

 

h)        Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Purchase Agreement.

 

i)         Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j)         Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

k)         Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l)         Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

    	 	15	 

     

    

 

m)        Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n)        Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

********************

 

(Signature Page Follows)

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	MAGNEGAS CORPORATION
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	17	 

     

    

 

NOTICE OF EXERCISE

 

To:     Magnegas
corporation

 

(1)    The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,
if any.

 

(2)    Payment
shall take the form of (check applicable box):

 

 ̈
in lawful money of the United States; or

 

 ̈
[if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection
2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

(3)    Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Warrant Shares shall be delivered to
the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ______________________________________________________________________

Signature of Authorized Signatory of Investing
Entity: ______________________________________________

Name of Authorized Signatory: ________________________________________________________________

Title of Authorized Signatory: _________________________________________________________________

Date: ____________________________________________________________________________________

 

     

     

    

 

EXHIBIT B

 

ASSIGNMENT
FORM

 

(To assign the foregoing Warrant, execute
this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing Warrant
and all rights evidenced thereby are hereby assigned to

 

	Name:	 	 
	 	(Please Print)	 
	 	 	 
	Address:	 	 
	 	(Please Print)	 
	 	 	 
	Phone Number:	 	 
	 	 	 
	Email Address:	 	 
	 	 	 
	Dated: _______________ __, ______	 	 
	 	 	 
	Holder’s Signature:____________________	 	 
	 	 	 
	Holder’s Address:_____________________

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