Document:

Employment Agreement

 Exhibit 10.8 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT
AGREEMENT (the “Agreement”) is made and entered into effective as of June 15, 2012 (the “Effective Date”), by and between
REGULUS THERAPEUTICS INC., a Delaware corporation (the “Company”), and NEIL W. GIBSON, PH.D. (the
“Executive”). The Company and the Executive are hereinafter collectively referred to as the “Parties”, and individually referred to as a
“Party”. From and following the Effective Date, this Agreement shall replace and supersede that certain Offer Letter Agreement between Executive and Regulus Therapeutics Inc. entered into as of March 15,
2011 (the “Prior Agreement”). 
 RECITALS  

WHEREAS, Executive and the Company are currently parties to the Prior Agreement that is superseded
and replaced in its entirety by this Agreement; 
 WHEREAS, the Company desires to continue
to employ Executive to provide personal services to the Company in that capacity, and wishes to provide Executive with certain compensation and benefits in return for his services, and Executive wishes to be so employed and to receive such benefits;
and 
 WHEREAS, the Company and Executive wish to enter into this Agreement to define their
mutual rights and duties with respect to Executive’s compensation and benefits. 
 NOW,
THEREFORE, in consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the Parties, intending to be legally bound, agree as follows: 

AGREEMENT  
 1. EMPLOYMENT. 
 1.1 Term. The term of this Agreement
shall begin on the Effective Date, and shall continue until terminated in accordance with Section 5 herein. 
 1.2
Title. The Executive shall continue in the role of Chief Scientific Officer (“CSO”) and shall serve in such other capacity or capacities as the Board of Directors of the Company (the “Board”) may
from time to time prescribe, but only as consistent with the customary duties of a CSO. 
 1.3 Duties. The Executive
shall report to the Chief Executive Officer of the Company and shall do and perform all reasonable services, acts or things necessary or advisable to manage and conduct the business of the Company and which are normally associated with the position
of CSO, consistent with the bylaws of the Company and as required by the Chief Executive Officer of the Company. 
 1.4
Location. The Executive shall perform services pursuant to this Agreement at the Company’s offices located in San Diego, California, or at any other place at 

  
 1 

 
which the Company maintains an office; provided, however, that the Company may from time to time require the Executive to travel temporarily to other locations in connection with the
Company’s business. 
 2. LOYAL AND CONSCIENTIOUS
PERFORMANCE. 
 2.1 Loyalty. During the Executive’s employment by the Company the Executive shall
devote the Executive’s full business energies, interest, abilities and productive time to the proper and efficient performance of the Executive’s duties under this Agreement. 

2.2 Non-Company Business. While employed by the Company, Executive shall not, without the Company’s prior written consent,
(i) render to others, services of any kind for compensation, or engage in any other business activity that would materially interfere with the performance of Executive’s duties under this Agreement, or (ii) directly or indirectly,
whether as a partner, employee, creditor, shareholder, or otherwise, promote, participate or engage in any activity or other business competitive with the Company’s business. Executive shall not invest in any company or business which competes
in any manner with the Company; provided that, Executive may, without violating this section, own, as a passive investment, shares of capital stock of a publicly-held corporation that engages in competition if (i) such shares are
actively traded on an established national securities market in the United States, (ii) the number of shares of such corporation’s capital stock that are owned beneficially (directly or indirectly) by the Executive represents less than one
percent of the total number of shares of such corporation’s outstanding capital stock, and (iii) Executive is not otherwise associated directly or indirectly with such corporation or with any affiliate of such corporation. 

3. COMPENSATION OF THE EXECUTIVE. 

3.1 Base Salary. The Company shall pay the Executive a base salary at the rate of $332,153 per year (the “Base
Salary”), less payroll deductions and all required withholdings, payable in regular bi-weekly payments or otherwise in accordance with Company policy. Such Base Salary shall be prorated for any partial year of employment on the basis of
a 365-day fiscal year. 
 3.2 Discretionary Bonuses. In addition to the Base Salary, the Executive will be eligible to
receive a yearly discretionary merit bonus pursuant to the Company’s annual performance bonus plan, with a target amount of such bonus equal to up to 25% of Executive’s Base Salary (the “Annual Bonus”). Whether
Executive receives an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board in its sole discretion based upon the Company’s and Executive’s achievement of objectives and milestones to be
determined on an annual basis by the Board. Executive must remain an active employee through the end of the applicable performance period in order to earn an Annual Bonus for that year and any such bonus will be paid in a lump sum prior to
March 15 of the year following the year in which Executive’s right to such amount became vested. 

  
 2. 

 3.3 Equity Compensation. Any stock, stock options, or other equity awards that
Executive has already been granted by the Company shall continue to be governed in all respects by the terms of the applicable grant agreements, grant notices, plan documents and stock restriction agreements. The Board may grant additional stock,
stock options, or other equity awards to Executive in its sole discretion. 
 3.4 Changes to Compensation. It is
anticipated that the Executive will be considered on an annual basis for merit increases in base compensation consistent with performance and market trends but subject to Board approval in its sole discretion. Subject to Section 5.3 below, the
Executive’s compensation may be changed from time to time in the Company’s sole discretion based upon Board approved changes to the Company’s operating plan after considering relevant business conditions. 

3.5 Employment Taxes. All of the Executive’s compensation and payments under this Agreement shall be subject to customary
withholding taxes and any other employment taxes as are commonly required to be collected or withheld by the Company. 
 3.6
Benefits. The Executive shall, in accordance with Company policy and the terms of the applicable plan documents, be eligible to participate in benefits under any executive benefit plan or arrangement which may be in effect from time to time and
made available to the Company’s executive or key management employees. 
 3.7 Vacations and Holidays. In accordance
with Company policies, Executive shall be entitled to accrue three weeks of paid vacation during each calendar year, subject to applicable maximum accrual caps; and Executive shall also be entitled to certain paid holidays. The Company may modify
any of its benefit plans or policies, including its vacation and holiday policies, from time to time in its sole discretion. 

3.8 Expenses. The Company will reimburse Executive for reasonable travel, entertainment or other expenses incurred by Executive in
furtherance or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. For the avoidance of doubt, to the extent that any
reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”): (a) to be eligible to obtain reimbursement for such expenses Executive
must submit expense reports within 45 days after the expense is incurred, (b) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (c) the amount of expenses
reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (d) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 

4. DEFINITIONS. 
 For purposes of this Agreement, the following terms shall have the following meanings: 

  
 3. 

 4.1 Cause. “Cause” for the Company to terminate
Executive’s employment hereunder means the occurrence of any of the following events: (i) Executive’s commission of any felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any
state thereof; (ii) Executive’s attempted commission of, or participation in, a fraud or act of dishonesty against the Company; (iii) Executive’s intentional, material violation of any contract or agreement between the
Participant and the Company (including this Agreement) or of any statutory duty owed to the Company; (iv) Executive’s unauthorized use or disclosure of the Company’s confidential information or trade secrets; or
(v) Executive’s gross misconduct. 
 4.2 Change in Control. For purposes of this Agreement,
“Change in Control” means: the occurrence of any one or more of the following events: (i) any person (within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended),
other than Isis Pharmaceuticals, Inc. or Alnylam Pharmaceuticals, becomes the owner, directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities
(other than in connection with a transaction involving the issuance of securities by the Company the principal purpose of which is to raise capital for the Company); (ii) there is consummated a merger, consolidation or similar transaction to
which the Company is a party and the stockholders of the Company immediately prior thereto do not own outstanding voting securities representing more than 50% of the combined outstanding voting power of the surviving entity immediately following
such merger, consolidation or similar transaction or more than 50% of the combined outstanding voting power of the parent of the surviving entity immediately following such merger, consolidation or similar transaction; or (iii) there is
consummated a sale, lease exclusive license or other disposition of all or substantially all of the consolidated assets of the Company and its subsidiaries, other than a sale, lease or other disposition of all or substantially all of the
consolidated assets of the Company and its subsidiaries to an entity more than 50% of the combined voting power of which is owned immediately following such disposition by the stockholders of the Company immediately prior thereto. 

4.3 Complete Disability. “Complete Disability” shall mean the inability of the Executive to
perform the Executive’s duties under this Agreement because the Executive has become permanently disabled within the meaning of any policy of disability income insurance covering employees of the Company then in force. In the event the Company
has no policy of disability income insurance covering employees of the Company in force when the Executive becomes disabled, the term Complete Disability shall mean the inability of the Executive to perform the Executive’s duties under this
Agreement by reason of any incapacity, physical or mental, which the Board, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board, determines can be expected to result in death or expected to last for a
continuous period of more than 12 months. Based upon such medical advice or opinion, the determination of the Board shall be final and binding and the date such determination is made shall be the date of such Complete Disability for purposes of this
Agreement. The Company shall act upon this Section in compliance with the Family Medical 

  
 4. 

 
Leave Act (if applicable to the Company), the Americans with Disabilities Act (as amended), and applicable state and local laws. 

4.4 Good Reason. “Good Reason” for the Executive to terminate the Executive’s
employment hereunder shall mean the occurrence of any of the following events without the Executive’s consent; provided however, that any resignation by the Executive due to any of the following conditions shall only be deemed for Good Reason
if: (i) the Executive gives the Company written notice of the intent to terminate for Good Reason within 90 days following the first occurrence of the condition(s) that the Executive believes constitutes Good Reason, which notice shall describe
such condition(s); (ii) the Company fails to remedy, if remediable, such condition(s) within 30 days following receipt of the written notice (the “Cure Period”) of such condition(s) from the Executive; and
(iii) Executive actually resigns his employment within the first 15 days after expiration of the Cure Period: 

4.4.1 a material breach of this Agreement by the Company; 

4.4.2 a material reduction by the Company of the Executive’s Base Salary as initially set forth herein or as the same may be
increased from time to time; 
 4.4.3 a material reduction in the Executive’s authority, duties or
responsibilities; or 
 4.4.4 the Company relocates the facility that is the Executive’s principal place of
business with the Company to a location that requires an increase in the Executive’s one-way driving distance by more than 35 miles. 
 5. COMPENSATION UPON TERMINATION. 
 5.1 Death Or Complete Disability. If the Executive’s employment with the Company is terminated as a result of Executive’s death or Complete Disability, the Company shall pay to Executive,
and/or Executive’s heirs, the Executive’s Base Salary and accrued and unused vacation benefits earned through the date of termination at the rate in effect at the time of termination, less standard deductions and withholdings, and the
Company shall thereafter have no further obligations to the Executive and/or Executive’s heirs under this Agreement. 

5.2 With Cause or Without Good Reason. If the Executive’s employment with the Company is terminated by the Company for Cause
or if the Executive terminates employment with the Company without Good Reason, the Company shall pay the Executive’s Base Salary and accrued and unused vacation benefits earned through the date of termination at the rate in effect at the time
of termination, less standard deductions and withholdings, and the Company shall thereafter have no further obligations to the Executive under this Agreement. 
 5.3 Without Cause or for Good Reason. If the Executive’s employment with the Company is terminated by the Company without Cause, or Executive resigns for Good

  
 5. 

 
Reason, and in either case Executive signs a waiver and release of claims (in substantially the form attached hereto as Exhibit A, or in such other form of release as the Company may
require (the “Release”)) on or within the time period set forth therein, but in no event later than 45 days after Executive’s termination date, and allows such Release to become effective
in accordance with its terms (such latest permitted date on which the Release could become effective, the “Release Deadline”), then Executive will receive the following benefits: 

5.3.1 Severance Payment. A payment equal to the equivalent of 12 months of the Executive’s Base Salary (the
“Severance Payment”), less standard deductions and withholdings, which shall be paid in a single lump sum within five days after the effective date of the Release. For the avoidance of doubt, the Severance
Payment shall relate to the Base Salary at the rate in effect during the last regularly scheduled payroll period immediately preceding the date of the termination, and prior to any reduction in Base Salary that would permit the Executive to
voluntarily terminate employment for Good Reason. 
 5.3.2 Health Insurance. If Executive is
eligible for and timely elects continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) following Executive’s termination, and subject to
Executive’s delivery to the Company of an effective Release, the Company will pay the Executive’s COBRA group health insurance premiums for the Executive and his eligible dependents until the earliest of (A) the close of the 12 month
period following the termination of Executive’s employment (the “COBRA Payment Period”), (B) the expiration of Executive’s eligibility for the continuation coverage under COBRA, or (C) the
date when Executive becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. For purposes of this Section 5.3.2, references to COBRA premiums shall not include any amounts
payable by Executive under an Internal Revenue Code Section 125 health care reimbursement plan. Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that it cannot pay the COBRA premiums without
potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then regardless of whether Executive elects continued health coverage under COBRA, and in
lieu of providing the COBRA premiums, the Company will instead pay Executive on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax
withholdings (such amount, the “Special Severance Payment”), which payments shall continue until the earlier of expiration of the COBRA Payment Period or the date when Executive becomes eligible for
substantially equivalent health insurance coverage in connection with new employment or self-employment. On the
60th day following Executive’s termination, the
Company will make the first payment under this clause (and, in the case of the Special Severance Payment, such payment will be to Executive, in a lump sum) equal to the aggregate amount of payments that the Company would have paid through such date
had such payments commenced on the date of Executive’s termination through the effective date of the Release, with the balance of the payments paid thereafter on the schedule described above. If Executive becomes eligible for coverage under
another employer’s group health plan, Executive must 

  
 6. 

 
immediately notify the Company of such event, and all payments and obligations under this Subsection shall cease. 
 5.3.3 Equity Acceleration. Contingent on the effective date of the Release, all of the outstanding stock options, restricted stock or other equity awards that Executive holds with respect to the
Company’s common stock shall accelerate and vest such that all shares shall be vested and fully exercisable as of the effective date of Executive’s termination of employment. In order to give effect to the foregoing provision,
notwithstanding anything to the contrary set forth in Executive’s equity award agreements, following any termination of Executive’s employment that is without Cause or for Good Reason, none of Executive’s equity awards shall terminate
with respect to any vested or unvested portion subject to such award before the later of (A) the effective date of the Release, or (B) the Release Deadline. 
 5.4 Additional Change in Control Related Severance Benefits. In the event that Executive’s employment with the Company is terminated without Cause or Executive resigns for Good Reason within
the one month period immediately preceding or the twelve month period immediately following the effective date of a Change in Control, then subject to the Executive’s delivery to the Company of an effective Release as required pursuant to
Section 5.3, Executive shall be entitled to all of the severance benefits described under Section 5.3 above, provided that: 
 5.4.1 The Executive shall additionally be entitled to a lump sum payment equivalent to the Executive’s target Annual Bonus that was in effect at the time of Executive’s termination (the
“Bonus Payment”). The Bonus Payment shall be subject to all standard deductions and withholdings and shall be paid in a single lump sum within five days after the later of (A) the effective date of the
Release, or (B) the effective date of the Change in Control (if Executive’s termination occurs prior to the Change in Control), but in no event later than March 15 of the year following the year in which Executive’s termination
of employment occurred. 
 5.5 Termination by Mutual Agreement of the Parties. The Executive’s employment pursuant
to this Agreement may be terminated at any time upon mutual agreement, in writing, of the Parties. Any such termination of employment shall have the consequences specified in such writing. 

5.6 Survival of Certain Provisions. Sections 6 and 18 shall survive the termination of this Agreement. 

6. CONFIDENTIAL AND PROPRIETARY INFORMATION;
NONSOLICITATION. 
 6.1 As a condition of continued employment, Executive agrees
to continue to abide by the Employee Confidential Information and Inventions Agreement entered into between the Company and Executive on April 21, 2011. 

  
 7. 

 6.2 While employed by the Company and for one year thereafter, the Executive agrees
that in order to protect the Company’s trade secrets and confidential and proprietary information from unauthorized use, the Executive will not, either directly or through others, solicit or attempt to solicit any employee, consultant or
independent contractor of the Company to terminate his or her relationship with the Company in order to become an employee, consultant or independent contractor to or for any other person or business entity. 

7. ASSIGNMENT AND BINDING EFFECT. 

This Agreement shall be binding upon and inure to the benefit of the Executive and the Executive’s heirs, executors, personal
representatives, assigns, administrators and legal representatives. Because of the unique and personal nature of the Executive’s duties under this Agreement, neither this Agreement nor any rights or obligations under this Agreement shall be
assignable by the Executive. This Agreement shall be binding upon and inure to the benefit of the Company and its successors, assigns and legal representatives. 
 8. CHOICE OF LAW. 
 This
Agreement shall be construed and interpreted in accordance with the internal laws of the State of California. 
 9.
INTEGRATION. 
 This Agreement, including Exhibit A and the Employee Confidential Information and
Inventions Agreement referenced in Section 6.1, contains the complete, final and exclusive agreement of the Parties relating to the terms and conditions of the Executive’s employment and the termination of the Executive’s employment,
and supersedes all prior and contemporaneous oral and written employment agreements or arrangements between the Parties including the Prior Agreement except as indicated herein. 

10. AMENDMENT. 
 Except as otherwise provided for in this Agreement, this Agreement cannot be amended or modified except by a written agreement signed by the Executive and the Company as directed by the Board. 

11. WAIVER. 
 No term, covenant or condition of this Agreement or any breach thereof shall be deemed waived, except with the written consent of the Party against whom the wavier is claimed, and any waiver or any such
term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other term, covenant, condition or breach. 

  
 8. 

 12. SEVERABILITY. 

The finding by a court of competent jurisdiction of the unenforceability, invalidity or illegality of any provision of this Agreement
shall not render any other provision of this Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the invalid or unenforceable term or provision with a valid and enforceable term or provision which
most accurately represents the Parties’ intention with respect to the invalid or unenforceable term or provision. 
 13. INTERPRETATION; CONSTRUCTION. 
 The
headings set forth in this Agreement are for convenience of reference only and shall not be used in interpreting this Agreement. This Agreement has been drafted by legal counsel representing the Company, but the Executive has been encouraged to
consult with, and have consulted with, the Executive’s own independent counsel and tax advisors with respect to the terms of this Agreement. The Parties acknowledge that each Party and its counsel has reviewed and revised, or had an opportunity
to review and revise, this Agreement, and any rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. 

14. REPRESENTATIONS AND WARRANTIES. 

The Executive represents and warrants that the Executive is not restricted or prohibited, contractually or otherwise, from entering into
and performing each of the terms and covenants contained in this Agreement, and that the Executive’s execution and performance of this Agreement will not violate or breach any other agreements between the Executive and any other person or
entity. 
 15. COUNTERPARTS; FACSIMILE. 

This Agreement may be executed in two counterparts, each of which shall be deemed an original, all of which together shall contribute one
and the same instrument. Facsimile signatures shall be treated the same as original signatures. 
 16. DISPUTE
RESOLUTION. 
 To ensure the timely and economical resolution of disputes that may arise in connection with
Executive’s employment with the Company, Executive and the Company agree that any and all disputes, claims, or causes of action arising from or relating to the enforcement, breach, performance, negotiation, execution, or interpretation of this
Agreement, Executive’s employment, or the termination of Executive’s employment, including but not limited to statutory claims, shall be resolved to the fullest extent permitted by law by final, binding and confidential arbitration, by a
single arbitrator, in San Diego, California, conducted by JAMS, Inc. (“JAMS”) under the then applicable JAMS rules (which can be found at the following web

  
 9. 

 
address: http://www.jamsadr.com/rulesclauses). By agreeing to this arbitration procedure, both Executive and the Company waive the right to resolve any such dispute through a trial by jury
or judge or administrative proceeding. The Company acknowledges that Executive will have the right to be represented by legal counsel at any arbitration proceeding. The arbitrator shall: (a) have the authority to compel adequate discovery for
the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written arbitration decision, to include the arbitrator’s essential findings and conclusions and a statement of the award. The
arbitrator shall be authorized to award any or all remedies that Executive or the Company would be entitled to seek in a court of law. The Company shall pay all JAMS’ arbitration fees in excess of the amount of court fees that would be required
of the Executive if the dispute were decided in a court of law. Nothing in this Agreement is intended to prevent either Executive or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such
arbitration. Any awards or orders in such arbitrations may be entered and enforced as judgments in the federal and state courts of any competent jurisdiction. 
 17. TRADE SECRETS. 
 It is the understanding
of both the Company and the Executive that the Executive shall not divulge to the Company and/or its subsidiaries any confidential information or trade secrets belonging to others, including the Executive’s former employers, nor shall the
Company and/or its Affiliates seek to elicit from the Executive any such information. Consistent with the foregoing, the Executive shall not provide to the Company and/or its Affiliates, and the Company and/or its Affiliates shall not request, any
documents or copies of documents containing such information. 
 18. ADVERTISING WAIVER.

 The Executive agrees to permit the Company and/or its affiliates, subsidiaries, or joint ventures currently existing or
which shall be established during Executive’s employment by the Company (collectively, “Affiliates”), and persons or other organizations authorized by the Company and/or its Affiliates, to use, publish and
distribute advertising or sales promotional literature concerning the products and/or services of the Company and/or its Affiliates, or the machinery and equipment used in the provision thereof, in which the Executive’s name and/or pictures of
the Executive taken in the course of the Executive’s provision of services to the Company and/or its Affiliates, appear. The Executive hereby waives and releases any claim or right the Executive may otherwise have arising out of such use,
publication or distribution. The Company agrees that, following termination of the Executive’s employment, it will not create any new such literature containing the Executive’s name and/or pictures without the Executive’s prior
written consent. 
 19. APPLICATION OF SECTION 409A. 

All benefits under this Agreement are intended to qualify for an exemption from application of Section 409A of the Code and the
regulations and other guidance thereunder and 

  
 10.

 
any state law of similar effect (“Section 409A”) or to comply with its requirements to the extent necessary to avoid adverse personal tax consequences under
Section 409A, and any ambiguities herein shall be interpreted accordingly. 
 Notwithstanding anything to the contrary set
forth herein, any severance benefits that constitute “deferred compensation” within the meaning of Section 409A shall not commence in connection with the Executive’s termination of employment unless and until the Executive has
also incurred a “separation from service” (as such term is defined in Treasury Regulation Section 1.409A-1(h)) (“Separation From Service”), unless the Company reasonably determines that such amounts may be
provided to the Executive without causing the Executive to incur the additional 20% tax under Section 409A. 
 It is
intended that each installment of the severance benefit payments provided for in this Agreement is a separate “payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that
payments of the severance benefits set forth in this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Section 409A provided under Treasury Regulation Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and
1.409A-1(b)(9). However, if the Company (or, if applicable, the successor entity thereto) determines that the severance benefits constitute “deferred compensation” under Section 409A and the Executive is, on the termination of
service, a “specified employee” of the Company or any successor entity thereto, as such term is defined in Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence of the adverse personal tax
consequences under Section 409A, the timing of the severance benefit payments shall be delayed until the earlier to occur of: (i) the date that is six months and one day after the Executive’s Separation From Service, or (ii) the
date of the Executive’s death. None of the severance benefits will be paid or otherwise delivered prior to the effective date of the Release. If the severance benefits are not covered by one or more exemptions from the application of
Section 409A and the Release could become effective in the calendar year following the calendar year in which Executive’s Separation From Service occurs, the Release will not be deemed effective any earlier than the Release Deadline.
Except to the minimum extent that payments must be delayed because Executive is a “specified employee” or until the effectiveness of the Release, all amounts will be paid as soon as practicable in accordance with the Company’s normal
payroll practices. 
 The severance benefits are intended to qualify for an exemption from application of Section 409A or
comply with its requirements to the extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities herein shall be interpreted accordingly. 

20. PARACHUTE PAYMENTS. 
 Except as otherwise provided in an agreement between the Executive and the Company, if any payment or benefit the Executive would receive from the Company or otherwise in connection with a Change in
Control (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be

  
 11.

 
subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount (as defined herein). The
“Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax, or (y) the largest portion, up to and including the total, of
the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in the Executive’s receipt, on
an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so
that the Payment equals the Reduced Amount, reduction shall occur in the manner that results in the greatest economic benefit to Executive. 
 The independent registered public accounting firm engaged by the Company for general audit purposes as of the day prior to the effective date of the event described in Section 280G(b)(2)(A)(i) of the
Code shall perform the foregoing calculations. If the independent registered public accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting such event, the Company shall appoint a
nationally recognized independent registered public accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such independent registered public accounting firm required
to be made hereunder. The independent registered public accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to the Company and Executive within thirty
(30) calendar days after the date on which Executive’s right to a Payment is triggered (if requested at that time by the Company or Executive) or such other time as reasonably requested by the Company or Executive. Any good faith
determinations of the independent registered public accounting firm made hereunder shall be final, binding and conclusive upon the Company and Executive. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 12.

 IN WITNESS WHEREOF, the
Parties have executed this Agreement as of the date first above written. 
  

			
	REGULUS THERAPEUTICS INC.
		
	 By:
	 	/s/ Kleanthis G. Xanthopoulos
	 Name:
	 	Kleanthis G. Xanthopoulos, Ph.D.
	 Title:
	 	President & CEO
	
	/s/ Neil W. Gibson
	NEIL W. GIBSON, PH.D.

 [SIGNATURE PAGE TO EMPLOYMENT
AGREEMENT] 

 [EXHIBIT A] 

RELEASE AND WAIVER OF CLAIMS 
 In consideration of the payments and other benefits set forth in Section 5 of the Employment Agreement dated __________________, 2012, to which this form is attached (the “Amended Employment
Agreement”), I, Neil W. Gibson, Ph.D., hereby furnish Regulus Therapeutics Inc. (the “Company”) with the following release and waiver (“Release and Waiver”). 

In exchange for the consideration provided to me by the Employment Agreement that I am not otherwise entitled to receive, I hereby
generally and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns (collectively, the
“Released Parties”) from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Release and
Waiver (collectively, the “Released Claims”). The Released Claims include, but are not limited to: (1) all claims arising out of or in any way related to my employment with the Company or the termination of that employment;
(2) all claims related to my compensation or benefits from the Company, including, but not limited to, salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other
ownership interests in the Company; (3) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including, but not limited to, claims for fraud,
defamation, emotional distress, and discharge in violation of public policy; and (5) all federal, state, and local statutory claims, including, but not limited to, claims for discrimination, harassment, retaliation, attorneys’ fees, or
other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990 (as amended), the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), the
federal Family and Medical Leave Act (as amended), the California Labor Code, and the California Fair Employment and Housing Act (as amended). Notwithstanding the foregoing, the following are not included in the Released Claims (the
“Excluded Claims”): (a) any rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company to which I am a party, the charter, bylaws, or operating agreements of the Company,
or under applicable law; (b) any rights or claims to unemployment compensation, funds accrued in my 401k account, or any vested equity incentives; (c) any rights that are not waivable as a matter of law; or (d) any claims arising from
the breach of this Release and Waiver. I hereby represent and warrant that, other than the Excluded Claims, I am not aware of any claims I have or might have against any of the Released Parties that are not included in the Released Claims.

 I also acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows:
“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with
the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to any claims I may have against the Company. 

 I acknowledge that, among other rights, I am waiving and releasing any rights I may have
under ADEA, that this Release and Waiver is knowing and voluntary, and that the consideration given for this Release and Waiver is in addition to anything of value to which I was already entitled as an executive of the Company. If I am 40 years of
age or older upon execution of this Release and Waiver, I further acknowledge that I have been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein does not relate to claims under the
ADEA which may arise after this Release and Waiver is executed; (b) I should consult with an attorney prior to executing this Release and Waiver; (c) I have twenty-one (21) days in which to consider this Release and Waiver (although I
may choose voluntarily to execute this Release and Waiver earlier); (d) I have seven (7) days following the execution of this Release and Waiver to revoke my consent to this Release and Waiver; and (e) this Release and Waiver shall
not be effective until the seven (7) day revocation period has expired without my having previously revoked this Release and Waiver. 
 If I am less than 40 years of age upon execution of this Release and Waiver, I acknowledge that I have the right to consult with an attorney prior to executing this Release and Waiver (although I may
choose voluntarily not to do so); and that I have ten (10) days from the date of termination of my employment with the Company in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver
earlier). 
 I acknowledge my continuing obligations under my Employee Confidentiality and Inventions Assignment Agreement a
copy of which is attached hereto (the “CIAA”). Pursuant to the CIAA, I understand that among other things, I must not use or disclose any confidential or proprietary information of the Company and I must immediately return all
Company property and documents (including all embodiments of proprietary information) and all copies thereof in my possession or control. I understand and agree that my right to the severance benefits I am receiving is in exchange for my agreement
to the terms of this Release and Waiver and is contingent upon my continued compliance with my CIAA. 
 This Release and Waiver,
including the CIAA, constitutes the complete, final and exclusive embodiment of the entire agreement between the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not
expressly stated herein. This Release and Waiver may only be modified by a writing signed by both me and a duly authorized officer of the Company. 
  

							
	Date:                             
            	 		 	By: 	 	 
		 		 		 	NEIL W. GIBSON, PH.D.Lease

 Exhibit 10.9 
 LEASE 
 by and between 

BMR-John Hopkins Court LLC, 
 a Delaware limited liability company 
 and 

Regulus Therapeutics Inc., 
 a Delaware corporation 

 LEASE 

THIS LEASE (this “Lease”) is entered into as of this 19th day of March, 2010 (the “Execution Date”), by and
between BMR-John Hopkins Court LLC, a Delaware limited liability company (“Landlord”), and Regulus Therapeutics Inc., a Delaware corporation (“Tenant”). 

RECITALS 
 A. WHEREAS, Landlord owns certain real property (the “Property”) and the improvements on the Property located at 3545-3575 John Hopkins Court, San Diego, California, including the
building located thereon (the “Building”); and 
 B. WHEREAS, Landlord wishes to lease to Tenant, and Tenant
desires to lease from Landlord, certain premises (the “Premises”) located in the Building, pursuant to the terms and conditions of this Lease, as detailed below. 

AGREEMENT 
 NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
and intending to be legally bound, agree as follows: 
 1. Lease of Premises. Landlord will deliver possession of the Premises to Tenant
promptly after the full execution and delivery of this Lease for the purpose of Tenant commencing construction of the Tenant Improvements, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises, as shown on Exhibit
A attached hereto, for use by Tenant in accordance with the Permitted Use (as defined below) and no other uses. The Property and all landscaping, parking facilities, private drives and other improvements and appurtenances related thereto,
including the Building, are hereinafter collectively referred to as the “Project.” All portions of the Project that are for the non-exclusive use of tenants of the Building, including driveways, sidewalks, parking areas, landscaped
areas, service corridors, stairways, elevators, public restrooms, public lobbies and the conference room are hereinafter referred to as “Common Area.” 
 2. Basic Lease Provisions. For convenience of the parties, certain basic provisions of this Lease are set forth herein. The provisions set forth herein are subject to the remaining terms and
conditions of this Lease and are to be interpreted in light of such remaining terms and conditions. 
 2.1. This Lease shall
take effect upon the Execution Date and, except as specifically otherwise provided within this Lease, each of the provisions hereof shall be binding upon and inure to the benefit of Landlord and Tenant from the date of execution and delivery hereof
by all parties hereto. 

  
 1 

 2.2. In the definitions below, each current Rentable Area (as defined below) is expressed in
rentable square footage. Rentable Area and Tenant’s Pro Rata Share (as defined below) are both subject to adjustment as provided in this Lease. 
  

			
	 Definition or Provision
	  	Means the Following (As of the Term
Commencement Date)
	 Rentable Area of Premises
	  	21,470 square feet
	 Rentable Area of Project
	  	72,192 square feet
	 Tenant’s Pro Rata Share of Project
	  	29.74%

 2.3. Initial monthly and annual installments of Base Rent for the Premises (“Base Rent”)
as of the Term Commencement Date, shall be as set forth in Exhibit D attached hereto (the “Base Rent Schedule”), subject to adjustment under this Lease: 

2.4. Estimated Term Commencement Date: July 1, 2010 
 2.5. Estimated Term Expiration Date: May 31, 2017 
 2.6. Security Deposit:
$125,000.00 
 2.7. Permitted Use: Office and laboratory use in conformity with all federal, state, municipal and local laws,
codes, ordinances, rules and regulations of Governmental Authorities (as defined below), committees, associations, or other regulatory committees, agencies or governing bodies having jurisdiction over the Premises, the Building, the Property, the
Project, Landlord or Tenant, including both statutory and common law and hazardous waste rules and regulations (“Applicable Laws”) 
  

					
	2.8.	  	Address for Rent Payment:	  	BMR - John Hopkins Court
		  		  	PO Box 511269
		  		  	Los Angeles, CA 90051-7824
			
	2.9.	  	Address for Notices to Landlord:	  	BMR-John Hopkins Court LLC
		  		  	17190 Bernardo Center Drive
		  		  	San Diego, California 92128
		  		  	Attn: Vice President, Real Estate Counsel
			
	2.10.	  	Address for Notices to Tenant:	  	Prior to Term Commencement Date:

  
 2 

					
		  		  	Regulus Therapeutics Inc.
		  		  	1896 Rutherford Road
		  		  	Carlsbad, California 92008
		  		  	Attn: Garry Menzel, Executive Vice President
			
		  		  	After Term Commencement Date:
			
		  		  	Regulus Therapeutics Inc.
		  		  	3545 John Hopkins Court
		  		  	San Diego, California 92121
		  		  	Attn: Garry Menzel, Executive Vice President

 2.11. The following Exhibits are attached hereto and incorporated herein by reference: 

 

					
		 	Exhibit A	  	Premises
		 	Exhibit A-l	  	Suite 210 Depiction
		 	Exhibit B	  	Work Letter
		 	Exhibit C	  	Acknowledgement of Term Commencement Date and Term Expiration Date
		 	Exhibit D	  	Base Rent Schedule
		 	Exhibit E	  	Rules and Regulations
		 	Exhibit F	  	Tenant’s Personal Property
		 	Exhibit G	  	Form of Estoppel Certificate
		 	Exhibit H	  	Signage
		 	Exhibit I	  	FF&E

 3. Term. The actual term of this Lease (as the same may be extended pursuant to Article 42 hereof, and as
the same may be earlier terminated in accordance with this Lease, the “Term”) shall commence on the actual Term Commencement Date (as defined in Article 4) and end on the date that is eighty-four (84) months after the
actual Term Commencement Date (such date, the “Term Expiration Date”), subject to earlier termination of this Lease as provided herein. TENANT HEREBY WAIVES THE REQUIREMENTS OF SECTION 1933 OF THE CALIFORNIA CIVIL CODE, AS THE SAME
MAY BE AMENDED FROM TIME TO TIME. 
 4. Possession and Commencement Date. 

4.1. The “Term Commencement Date” shall be the earlier of (a) the Estimated Term Commencement Date and (b) the
day the Tenant first occupies the Premises for the Permitted Use. Tenant shall execute and deliver to Landlord written acknowledgment of the actual Term Commencement Date and the Term Expiration Date within ten (10) days after Tenant takes
occupancy of the Premises, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by
Tenant to obtain validation by any medical 

  
 3 

 
review board or other similar governmental licensing of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date, unless such failure is due to
the gross negligence or willful misconduct of Landlord, or Landlord’s failure to deliver the Premises in accordance with the terms and conditions of this Lease. 
 4.2. Tenant shall cause to be constructed the tenant improvements in the Premises (the “Tenant Improvements”) pursuant to the Work Letter attached hereto as Exhibit B (the
“Work Letter”) at a cost to Landlord not to exceed Six Hundred Forty-Four Thousand One Hundred Dollars ($644,100.00) (based upon Thirty Dollars ($30.00) per rentable square foot) (the “TI Allowance”). The TI
Allowance may be applied to the costs of (n) construction, (o) space planning, architect, engineering and other related services performed by third parties unaffiliated with Tenant, (p) building permits and other taxes, fees, charges
and levies by Governmental Authorities (as defined below) for permits or for inspections of the Tenant Improvements and (q) costs and expenses for labor, material, equipment and fixtures. In no event shall the TI Allowance be used for
(v) the cost of work that is not authorized by the Approved Plans (as defined in the Work Letter) or otherwise approved in writing by Landlord, (w) payments to Tenant or any affiliates of Tenant, (x) the purchase of any furniture,
personal property or other non-building system equipment, (y) costs resulting from any default by Tenant of its obligations under this Lease or (z) costs that are recoverable by Tenant from a third party (e.g., insurers, warrantors, or
tortfeasors). In addition to the TI Allowance, Landlord will provide to Tenant a cash allowance (“Cash Payment”) in the amount of One Hundred Thousand Dollars ($100,000.00), which may be used by Tenant for the purpose of
constructing the “H Shed” as defined in Section 17.1 (including soft costs and permitting fees) or constructing other Tenant Improvements in the Premises. The Cash Payment will be disbursed by Landlord in the same manner as the
TI Allowance. The Cash Payment will not result in any increase in Base Rent (including pursuant to Section 4.3 below). 
 4.3. Base Rent shall be increased to include the amount of the TI Allowance actually disbursed by Landlord in accordance with this Lease amortized over the initial Term at a rate of six and one-half
percent (6.5%) annually. Tenant shall have until December 31, 2010 (the “TI Deadline”), to expend the unused portion of the TI Allowance, after which date Landlord’s obligation to fund such costs shall expire. The
amount by which Base Rent shall be increased shall be determined (and Base Rent shall be increased accordingly) as of the Term Commencement Date and, if such determination does not reflect use by Tenant of all of the TI Allowance, shall be
determined again as of the TI Deadline. In the event that Landlord disburses any portion of the TI Allowance after the Term Commencement Date, then on the TI Deadline, Base Rent shall be increased to include the amount of the TI Allowance funded
after the Term Commencement Date as amortized over the remainder of the initial Term (commencing on the TI Deadline) at six and one-half percent (6.5%) annually. Promptly after any adjustment to Base Rent as set forth herein, Landlord and
Tenant shall amend this Lease to update the Base Rent Schedule attached hereto as Exhibit D. 
 4.4. To the extent Tenant
is required to pay any Excess TI Costs (as defined in the Work Letter), Tenant shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord as such costs are paid in the proportion of Excess TI Costs payable by Tenant to the TI

  
 4 

 
Allowance payable by Landlord. In no event shall any unused TI Allowance entitle Tenant to a credit against Rent payable under this Lease. Tenant shall cause the Architect to deliver to Landlord
and Tenant (i) a certificate of occupancy for the Premises suitable for the Permitted Use and (ii) a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the project architect
and the general contractor. 
 4.5. Prior to entering upon the Premises, Tenant shall furnish to Landlord evidence satisfactory
to Landlord that insurance coverages required of Tenant under the provisions of Article 23 are in effect, and such entry shall be subject to all the terms and conditions of this Lease other than the payment of Base Rent or Tenant’s Pro
Rata Share of Operating Expenses (as defined below). Tenant shall be obligated to pay for all utility charges supplied to the Premises for use during Tenant’s construction of the Tenant Improvements and until the Term Commencement Date.

 4.6. Tenant shall select (and Landlord shall reasonably approve) the architect, engineer, general contractor and major
subcontractors, and Landlord and Tenant shall each participate in the review of the competitive bid process. Landlord may refuse to approve the use of any architects, consultants, contractors, subcontractors or material suppliers that Landlord
reasonably believes could cause labor disharmony. Notwithstanding, Landlord hereby approves of DG Architects as the architect, Rudolph and Stetten as the contractor, Pacific Rim Mechanical as the mechanical and plumbing subcontractor, and Berg
Electric Corp. as the electrical subcontractor. 
 5. Condition of Premises. Tenant acknowledges that, except as set forth in this Lease,
neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of the Premises, the Building or the Project, or with respect to the suitability of the Premises, the Building or the Project for the
conduct of Tenant’s business. Notwithstanding the foregoing, Landlord represents and warrants that, as of the Execution Date, (a) the Premises are in compliance with all Applicable Laws (including without limitation the ADA and Title 24),
and (b) the structural elements of the Building, the roof and roof membrane and the Building systems throughout the Building and serving the Premises (including without limitation the mechanical, electrical, HVAC and plumbing systems of the
Building), are in working order, condition and repair, and to the extent that the representations are in (a) and (b) above are untrue as of the Execution Date, Landlord shall, at Landlord’s sole cost and expense and as Tenant’s
sole remedy, correct any breach of such warranties promptly following receipt of written notice thereof from Tenant. In addition, in the event any legal requirements are triggered by reason of the Tenant Improvements being constructed by Tenant,
Landlord will perform any required legal compliance work in the Premises or Building to the extent so triggered (provided that Tenant will ensure that the Tenant Improvements themselves comply with all applicable legal requirements). For example, in
the event that Tenant upgrades an electrical panel, the work to the panel will be, done in compliance with all legal requirements and will be a charge against the TI Allowance or paid for by Tenant, as applicable; however, in the event that the
agency issuing a permit for the Tenant Improvements requires that all lightbulbs be upgraded to meet a new Title 24 requirement, then Landlord will bear the cost of that upgrade. Tenant acknowledges that (x) it is fully familiar with the
condition of the Premises and agrees to take the same in its condition “as 

  
 5 

 
is” as of the Execution Date (subject to the preceding sentence) and (y) Landlord shall, except as expressly set forth in this Lease (including without limitation Landlord’s
obligation to provide the TI Allowance pursuant to Section 4.2 above), have no obligation to alter, repair or otherwise prepare the Premises for Tenant’s occupancy or to pay for or construct any improvements to the Premises.
Tenant’s taking of possession of the Premises shall, except as otherwise agreed to in writing by Landlord and Tenant (including in this Lease), conclusively establish that the Premises, the Building and the Project were at such time in good,
sanitary and satisfactory condition and repair. 
 6. Rentable Area. 

6.1. The term “Rentable Area” shall reflect such areas as reasonably calculated by Landlord’s architect, as the
same may be reasonably adjusted from time to time by Landlord in consultation with Landlord’s architect to reflect changes to the Premises, the Building or the Project, as applicable. 

6.2. The term “Rentable Area,” when applied to the Premises, is that area equal to the usable area of the Premises, plus
an equitable allocation of Rentable Area within the Building that is not then utilized or expected to be utilized as usable area (but specifically excepting any vacant space in the Building that Landlord reasonably deems to be leasable), including
that portion of the Building devoted to corridors, equipment rooms, restrooms, elevator lobby, atrium and mailroom. 
 7. Rent.

 7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth
in Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in
Article 8 hereof, each in advance on the first day of each and every calendar month during the Term. 
 7.2. In addition
to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s pro rata share, as set forth in Section 2.2 (“Tenant’s
Pro Rata Share”), of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to
Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice
and the lapse of any applicable cure periods. 
 7.3. Base Rent and Additional Rent shall together be denominated
“Rent.” Rent shall, except as otherwise provided in Sections 14.4, 16.2 or 24.5, be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in
Section 2.8 or to such other person or at such other place as Landlord may from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of
a month shall be 

  
 6 

 
prorated for such period on the basis of a thirty (30) day month and shall be paid at the then-current rate for such fractional month. 

8. Rent Adjustments. Base Rent shall be subject to an annual upward adjustment of Twenty-Five Cents ($0.25) per rentable
square foot per month, as more particularly set forth in Exhibit D attached hereto. The first such adjustment shall become effective commencing with that monthly rental installment that is due on or after the first (1st) annual anniversary of the Term Commencement Date, and subsequent
adjustments shall become effective on every successive annual anniversary for the remainder of the initial Term. In the event of a conflict between this Article 8 and Exhibit D, Exhibit D shall control. 

9. Operating Expenses. 

9.1. As used herein, the term “Operating Expenses” shall include: 

(a) Government impositions including property tax costs consisting of real and personal property taxes and assessments, including amounts
due under any improvement bond upon the Building or the Project, including the parcel or parcels of real property upon which the Building and areas serving the Building are located or assessments in lieu thereof imposed by any federal, state,
regional, local or municipal governmental authority, agency or subdivision (each, a “Governmental Authority”) are levied; taxes on or measured by gross rentals received from the rental of space in the Project; taxes based on the
square footage of the Premises, the Building or the Project, as well as any parking charges, utilities surcharges or any other costs levied, assessed or imposed by, or at the direction of, or resulting from Applicable Laws or interpretations
thereof, promulgated by any Governmental Authority in connection with the use or occupancy of the Project or the parking facilities serving the Project; taxes on this transaction or any document to which Tenant is a party creating or transferring an
interest in the Premises; any fee for a business license to operate an office building; and any expenses, including the reasonable cost of attorneys or experts, reasonably incurred by Landlord in seeking reduction by, the taxing authority of the
applicable taxes, less tax refunds obtained as a result of an application for review thereof (provided that any tax decrease obtained as a result of such expenditures will be credited against Operating Expenses). Notwithstanding anything to
the contrary in this Lease, Operating Expenses shall not include any of the following: net income, franchise, capital stock, estate or inheritance taxes, or taxes that are the personal obligation of Tenant or of another tenant of the Project;
Landlord’s general income taxes, succession, transfer or gift tax; any excise taxes imposed upon Landlord based upon rentals or income received by it (except if levied in lieu of real property taxes); taxes attributable to any period outside of
the Term (provided that any holdover by Tenant will be considered within the Term for purposes of this provision); any assessments, charges, taxes, rents, fees, rates, levies, excises, license fees, permit fees, inspection fees, impact fees,
concurrency fees or other fees or charges to the extent allocable to or caused by the development or installation of on- or off-site improvements or utilities (including without limitation street and intersection improvements, roads, rights of way,
lighting and signalization) related solely to any future expansion of the Building, or any allocations, reserves or sinking fund relating to such expansion, unless the same are contained in the property tax bills for the Project; and 

  
 7 

 (b) All other costs of any kind paid or incurred by Landlord in connection with the
operation or maintenance of the Building and the Project (provided that any costs for services, maintenance, repairs, and the like, provided directly by Landlord or affiliates of Landlord shall be at commercially reasonable prices), including costs
of repairs and replacements to improvements within the Project as appropriate to maintain the Project as required hereunder; costs of utilities furnished to the Common Areas; sewer fees; cable television; trash collection; cleaning, including
windows; heating; ventilation; air-conditioning; maintenance of landscaping and grounds; maintenance of drives and parking areas; maintenance of the roof (not including replacement of any structural components thereof); security services and
devices; building supplies; maintenance or replacement of equipment utilized for operation and maintenance of the Project; license, permit and inspection fees; sales, use and excise taxes on goods and services purchased by Landlord in connection
with the operation, maintenance or repair of the Building or Project systems and equipment; telephone, postage, stationery supplies and other expenses incurred in connection with the operation, maintenance or repair of the Project; reasonable
accounting, legal and other professional fees and expenses incurred in connection with the Project; costs of furniture, draperies, carpeting, landscaping and other customary and ordinary items of personal property provided by Landlord for use in
Common Areas; capital expenditures (provided that capital expenditures will be includable in Operating Expenses only to the extent they are reasonably anticipated to result in a reduction of Operating Expenses or are necessary to comply with
Applicable Laws (unless they are incurred to remedy a violation that exists as of the Term Commencement Date of any Applicable Law), with such capital expenditures amortized over their useful life); costs to keep the Project in compliance with, or
fees otherwise required under, any CC&Rs (as defined below); insurance premiums, including premiums for public liability, property casualty, earthquake, terrorism and environmental coverages; portions of insured losses paid by Landlord as part
of the deductible portion of a loss pursuant to the terms of insurance policies (provided that the amount of Landlord’s deductible that can be included in Operating Expenses will not exceed a commercially reasonable amount, as determined
by Landlord’s insurance broker, regardless of whether Landlord elects to have higher deductibles) service contracts; costs of services of independent contractors retained to do work of a nature referenced above; and costs of compensation
(including employment taxes and fringe benefits) of all persons who perform regular and recurring duties connected with the day-to-day operation and maintenance of the Project, its equipment, the adjacent walks, landscaped areas, drives and parking
areas, including janitors, floor waxers, window washers, watchmen, gardeners, sweepers and handymen. 
 Notwithstanding the
foregoing, Operating Expenses shall not include any leasing commissions or other costs incurred in procuring tenants, or any fee in lieu of commissions; expenses that relate to preparation of rental space for a tenant; expenses of initial
development and construction, including grading, paving, landscaping and decorating (as distinguished from maintenance, repair and replacement of the foregoing); legal expenses relating to other tenants (including without limitation Landlord’s
costs in having Chimeros, Inc., vacate the Premises); costs of any nature to the extent reimbursed by condemnation awards, another tenant of the Building (except as part of such tenant’s operating expense obligations), or payment of insurance
proceeds received by Landlord; interest upon loans to Landlord or secured by a mortgage or deed of trust covering the Project or a portion thereof (provided that interest upon a government

  
 8 

 
assessment or improvement bond payable in installments shall constitute an Operating Expense under Subsection 9.1(a)); salaries of executive officers of Landlord; depreciation claimed by
Landlord for tax purposes (provided that this exclusion of depreciation is not intended to delete from Operating Expenses actual costs of repairs and replacements in regard thereto that are described in Subsection 9.1(b)); and taxes
that are excluded from Operating Expenses by the last sentence of Subsection 9.1(a); the cost of providing any service directly to and paid directly by any tenant (outside of such tenant’s operating expense payments); ground lease
payments (if any); Landlord’s general corporate overhead; any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord (other than in the parking facility for the Project); bad debt expenses and
interest, principal, points and fees on debts or amortization on any ground lease, mortgage or mortgages or any other debt instrument encumbering the Building (including the Property); marketing costs, including attorneys’ fees in connection
with the negotiation and preparation of letters, deal memos, letters of intent, leases, subleases or assignments, space planning costs, and other costs and expenses incurred in connection with lease, sublease or assignment negotiations and
transactions with present or prospective tenants or other occupants of the Building; and art work; expenses in connection with services or other benefits that are not offered to Tenant or for which Tenant is charged directly but that are provided to
another tenant or occupant of the Building, without charge; electric power costs or other utility costs for which any tenant directly contracts with the local public service company; costs of correcting defects in or inadequacy of the initial design
or construction of the Building or any future expansion of the Building or Project; costs incurred to comply with Applicable Laws relating to the removal of Hazardous Materials (as defined in Article 21 below) or to remove, remedy, treat or
contain any Hazardous Material to the extent such costs (x) result from Landlord’s gross negligence or willful misconduct, (y) resulted from Hazardous Materials which existed in the Building or on the Property prior to the Execution
Date (provided that any Hazardous Materials in the Premises which are made Tenant’s responsibility pursuant to Article 21 below shall remain Tenant’s direct obligation) and (z) as to any other Hazardous Materials-related costs,
Landlord will first exhaust any available insurance proceeds and use good faith and commercially reasonable efforts (short of litigation) to pursue any third parties for reimbursement of any such costs prior to including such amounts in Operating
Expenses; and costs of upgrades to the Building effectuated for the purpose of obtaining or upgrading a LEED certification or similar rating. To the extent that Tenant uses more than Tenant’s Pro Rata Share of any item of Operating Expenses,
Tenant shall pay Landlord for such excess in addition to Tenant’s obligation to pay Tenant’s Pro Rata Share of Operating Expenses (provided that Landlord will provide Tenant with a detailed breakdown of how Landlord calculates such excess
use by Tenant). Operating Expenses shall not include any property management fee or administrative fee, except for the Property Management Fee (as defined below). To the extent that Tenant uses more than Tenant’s Pro Rata Share of any item of
Operating Expenses, Tenant shall pay Landlord for such excess in addition to Tenant’s obligation to pay Tenant’s Pro Rata Share of Operating Expenses. 
 9.2. Tenant shall pay to Landlord on the first day of each calendar month of the Term, as Additional Rent, (a) the Property Management Fee (as defined below) and (b) Landlord’s estimate of
Tenant’s Pro Rata Share of Operating Expenses with respect to the Building and the Project, as applicable, for such month. 

  
 9 

 (x) The “Property Management Fee” shall equal three percent (3.0%) of
Base Rent due from Tenant. 
 (y) Within ninety (90) days after the conclusion of each calendar year (or such longer period
as may be reasonably required by Landlord), Landlord shall furnish to Tenant a statement showing in reasonable detail the actual Operating Expenses and Tenant’s Pro Rata Share of Operating Expenses for the previous calendar year. Any additional
sum due from Tenant to Landlord shall be due and payable within thirty (30) days after Tenant’s receipt of the statement. If the amounts paid, by Tenant pursuant to this Section exceed Tenant’s Pro Rata Share of Operating Expenses for
the previous calendar year, then Landlord shall credit the difference against the Rent next due and owing from Tenant; provided that, if the Lease term has expired, Landlord shall accompany said statement with payment for the amount of such
difference. 
 (z) Any amount due under this Section for any period that is less than a full month shall be prorated (based on a
thirty (30)-day month) for such fractional month. 
 9.3. Landlord may, from time to time, modify Landlord’s calculation
and allocation procedures for Operating Expenses, so long as such modifications produce Dollar results substantially consistent with Landlord’s then-current practice at the Project and do not materially increase Tenant’s monetary
obligations hereunder. 
 9.4. Landlord’s annual statement shall be final and binding upon Tenant unless Tenant, within
sixty (60) days after Tenant’s receipt thereof, shall contest any item therein by giving written notice to Landlord, specifying each item contested and the reasons therefor. If, during such sixty (60)-day period, Tenant reasonably and in
good faith questions or contests the correctness of Landlord’s statement of Tenant’s Pro Rata Share of Operating Expenses, Landlord shall provide Tenant with reasonable access to Landlord’s books and records to the extent relevant to
determination of Operating Expenses, and such information as Landlord reasonably determines to be responsive to Tenant’s written inquiries. In the event that, after Tenant’s review of such information, Landlord and Tenant cannot agree upon
the amount of Tenant’s Pro Rata Share of Operating Expenses, then Tenant shall have the right to have an independent public accounting firm hired by Tenant on an hourly basis and not on a contingent-fee basis (at Tenant’s sole cost and
expense) and approved by Landlord (which approval Landlord shall not unreasonably withhold or delay) audit and review such of Landlord’s books and records for the year in question as directly relate to the determination of Operating Expenses
for such year (the “Independent Review”). Landlord shall make such books and records available at the location where Landlord maintains them in the ordinary course of its business (provided such location is within San Diego County).
Landlord need not provide copies of any books or records. Tenant shall commence the Independent Review within fifteen (15) days after the date Landlord has given Tenant access to Landlord’s books and records for the Independent Review.
Tenant shall complete the Independent Review and notify Landlord in writing of Tenant’s specific objections to Landlord’s calculation of Operating Expenses (including Tenant’s accounting firm’s written statement of the basis,
nature and amount of each proposed adjustment) no later than sixty (60) days after Landlord has first given Tenant access to Landlord’s books and records for the 

  
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Independent Review. Landlord shall review the results of any such Independent Review. The parties shall endeavor to agree promptly and reasonably upon Operating Expenses taking into account the
results of such Independent Review. If, as of sixty (60) days after Tenant has submitted the Independent Review to Landlord, the parties have not agreed on the appropriate adjustments to Operating Expenses, then the parties shall engage a
mutually agreeable independent third party accountant with at least ten (10) years’ experience in commercial real estate accounting in the San Diego, California area (the “Accountant”). If the parties cannot agree on the
Accountant, each shall within ten (10) days after such impasse appoint an Accountant (different from the accountant and accounting firm that conducted the Independent Review) and, within ten (10) days after the appointment of both such
Accountants, those two Accountants shall select a third (which cannot be the accountant and accounting firm that conducted the Independent Review). If either party fails to timely appoint an Accountant, then the Accountant the other party appoints
shall be the sole Accountant. Within ten (10) days after appointment of the Accountant(s), Landlord and Tenant shall each simultaneously give the Accountants (with a copy to the other party) its determination of Operating Expenses, with such
supporting data or information as each submitting party determines appropriate. Within ten (10) days after such submissions, the Accountants shall by majority vote select either Landlord’s or Tenant’s determination of Operating
Expenses. The Accountants may not select or designate any other determination of Operating Expenses. The determination of the Accountant(s) shall bind the parties. If the parties agree or the Accountant(s) determine that Tenant’s Pro Rata Share
of Operating Expenses actually paid for the calendar year in question exceeded Tenant’s obligations for such calendar year, then Landlord shall, at Tenant’s option, either (a) credit the excess to the next succeeding installments of
estimated Additional Rent or (b) pay the excess to Tenant within thirty (30) days after delivery of such results. If the parties agree or the Accountant(s) determine that Tenant’s payments of Tenant’s Pro Rata Share of Operating
Expenses for such calendar year were less than Tenant’s obligation for the calendar year, then Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such results. If the Accountant(s) determine that
Tenant’s Pro Rata Share of Operating Expenses actually paid for the calendar year in question exceeded by more than five percent (5%) Tenant’s obligations for such calendar year, then Landlord shall pay the reasonable cost of such
Accountant(s) and the Independent Review; in all other events Tenant shall pay the costs of such Accountant(s) and the Independent Review. 
 9.5. Tenant shall not be responsible for Operating Expenses attributable to the time period prior to the Term Commencement Date; provided, however, that if Landlord shall permit Tenant possession
of the Premises prior to the Term Commencement Date, Tenant shall be responsible for Operating Expenses from such earlier date of possession. Tenant’s responsibility for Tenant’s Pro Rata Share of Operating Expenses shall continue to the
latest of (a) the date of termination of the Lease, (b) the date Tenant has fully vacated the Premises or (c) if termination of the Lease is due to a default by Tenant, the date of rental commencement of a replacement tenant.

 9.6. Operating Expenses for the calendar year in which Tenant’s obligation to share therein commences and for the
calendar year in which such obligation ceases shall be prorated on a basis reasonably determined by Landlord. Expenses such as taxes, assessments and insurance premiums that are incurred for an extended time period shall be prorated based upon the
time 

  
 11 

 
periods to which they apply so that the amounts attributed to the Premises relate in a reasonable manner to the time period wherein Tenant has an obligation to share in Operating Expenses.

 9.7. Within five (5) business days after the end of each calendar month, Tenant shall submit to Landlord an invoice, or,
in the event an invoice is not available, an itemized list, of all costs and expenses that (a) Tenant has incurred (either internally or by employing third parties) during the prior month and (b) for which Tenant reasonably believes it is
entitled to reimbursements from Landlord pursuant to the terms of this Lease or that Tenant reasonably believes is the responsibility of Landlord pursuant to this Lease. 
 9.8. In the event that the Building or Project is less than fully occupied, Tenant acknowledges that Landlord may extrapolate the Operating Expenses by dividing (a) the total cost of Operating
Expenses by (b) the Rentable Area of the Building or Project (as applicable) that is occupied, then multiplying (y) the resulting quotient by (z) the total Rentable Area of the Building or Project (as applicable). Tenant shall pay
Tenant’s Pro Rata Share of the product of (y) and (z), subject to adjustment as reasonably determined by Landlord; provided, however, that Landlord shall not recover more than one hundred percent (100%) of Operating Expenses.
Notwithstanding the foregoing, in the event there is vacant space in the Building, to the extent it is feasible, Landlord will not provide services resulting in Operating Expenses to such vacant space. 

10. Taxes on Tenant’s Property. 
 10.1. Tenant shall pay prior to delinquency any and all taxes levied against any personal property or trade fixtures placed by Tenant in or about the Premises. 

10.2. If any such taxes on Tenant’s personal property or trade fixtures are levied against Landlord or Landlord’s property or,
if the assessed valuation of the Building, the Property or the Project is increased by inclusion therein of a value attributable to Tenant’s personal property or trade fixtures, and if Landlord, after written notice to Tenant, pays the taxes
based upon any such increase in the assessed value of the Building, the Property or the Project, then Tenant shall, upon demand, repay to Landlord the taxes so paid by Landlord. 

10.3. If any improvements in or alterations to the Premises, whether owned by Landlord or Tenant and whether or not affixed to the real
property so as to become a part thereof, are assessed for real property tax purposes at a valuation higher than the valuation at which improvements conforming to Landlord’s building standards (the “Building Standard”) in other
spaces in the Building are assessed, then the real property taxes and assessments levied against Landlord or the Building, the Property or the Project by reason of such excess assessed valuation shall be deemed to be taxes levied against personal
property of Tenant and shall be governed by the provisions of Section 10.2. Any such excess assessed valuation due to improvements in or alterations to space in the Project leased by other tenants at the Project shall not be included in
Operating Expenses. If the records of the County Assessor are available and sufficiently detailed to serve as a basis for determining whether said Tenant improvements or alterations are assessed at a higher valuation than the Building Standard, then
such records shall be binding on both Landlord and Tenant. 

  
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 11. Security Deposit. 
 11.1. Tenant shall deposit with Landlord on or before the Execution Date the sum set forth in Section 2.6 (the “Security Deposit”), which sum shall be held by Landlord as
security for the faithful performance by Tenant of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during the period commencing on the Execution Date and ending upon the expiration or termination of
Tenant’s obligations under this Lease. If Tenant defaults with respect to any provision of this Lease, including any provision relating to the payment of Rent, then Landlord may (but shall not be required to) use, apply or retain all or any
part of the Security Deposit for the payment of any Rent or any other sum in default, or to compensate Landlord for any other loss or damage that Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so
used or applied, then Tenant shall, within ten (10) days following demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount, and Tenant’s failure to do so shall be a
material breach of this Lease. The provisions of this Article shall survive the expiration or earlier termination of this Lease. TENANT HEREBY WAIVES THE REQUIREMENTS OF SECTION 1950.7 OF THE CALIFORNIA CIVIL CODE, AS THE SAME MAY BE AMENDED FROM
TIME TO TIME. 
 11.2. In the event of bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit
shall be deemed to be applied first to the payment of Rent and other charges due Landlord for all periods prior to the filing of such proceedings. 
 11.3. Landlord may deliver to any purchaser of Landlord’s interest in the Premises the funds deposited hereunder by Tenant, and thereupon Landlord shall be discharged from any further liability with
respect to such deposit. This provision shall also apply to any subsequent transfers. 
 11.4. If Tenant shall fully and
faithfully perform every provision of this Lease to be performed by it, then the Security Deposit, or any balance thereof, shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within
thirty (30) days after the expiration or earlier termination of this Lease. 
 11.5. If the Security Deposit shall be in
cash, Landlord shall hold the Security Deposit in an account at a banking organization selected by Landlord; provided, however, that Landlord shall not be required to maintain a separate account for the Security Deposit, but may intermingle
it with other funds of Landlord. Landlord shall be entitled to all interest and/or dividends, if any, accruing on the Security Deposit. Landlord shall not be required to credit Tenant with any interest for any period during which Landlord does not
receive interest on the Security Deposit. 
 11.6. The Security Deposit may be in the form of cash, a letter of credit or any
other security instrument acceptable to Landlord in its sole discretion. Tenant may at any time, deliver a letter of credit (the “L/C Security”) as the entire Security Deposit, as follows. 

(a) If Tenant elects to deliver L/C Security, then Tenant shall provide Landlord, and maintain in full force and effect throughout the
Term and until the date that is two 

  
 13 

 
(2) months after the then-current Term Expiration Date, a letter of credit in a form reasonably approved by Landlord and issued by an issuer reasonably satisfactory to Landlord, in the amount of
the Security Deposit, with an initial term of at least one year. Landlord may require the L/C Security to be re-issued by a different issuer at any time during the Term if Landlord reasonably believes that the issuing bank of the L/C Security is or
may soon become insolvent; provided, however, Landlord shall return the existing L/C Security to the existing issuer immediately upon receipt of the substitute L/C Security. If any issuer of the L/C Security shall become insolvent or
placed into FDIC receivership, then Tenant shall, promptly after Tenant’s knowledge of such insolvency, deliver to Landlord (without the requirement of notice from Landlord) substitute L/C Security issued by an issuer reasonably satisfactory to
Landlord, and otherwise conforming to the requirements set forth in this Article. As used herein with respect to the issuer of the L/C Security, “insolvent” shall mean the determination of insolvency as made by such issuer’s primary
bank regulator (i.e., the state bank supervisor for state chartered banks; the OCC or OTS, respectively, for federally chartered banks or thrifts; or the Federal Reserve for its member banks). If, at the Term Expiration Date, any Rent remains
uncalculated or unpaid, then: (i) Landlord shall with reasonable diligence complete any necessary calculations; (ii) Tenant shall extend the expiry date of such L/C Security from time to time as Landlord reasonably requires, but in no
event shall such extension be later than the date which is ninety (90) days after the Term Expiration Date; and (iii) in such extended period, Landlord shall not unreasonably refuse to consent to an appropriate reduction of the L/C
Security. 
 (b) If Tenant delivers to Landlord satisfactory L/C Security in place of the entire Security Deposit, Landlord
shall remit to Tenant any cash Security Deposit Landlord previously held. 
 (c) Landlord may draw upon the L/C Security, and
hold and apply the proceeds in the same manner and for the same purposes as the Security Deposit, if: (i) an uncured Default (as defined below) exists; (ii) as of the date thirty (30) days before any L/C Security expires (even if such
scheduled expiry date is after the Term Expiration Date) Tenant has not delivered to Landlord an amendment or replacement for such L/C Security, reasonably satisfactory to Landlord, extending the expiry date to the earlier of (1) two
(2) months after the then-current Term Expiration Date or (2) the date one year after the then-current expiry date of the L/C Security; (iii) the L/C Security provides for automatic renewals, Landlord asks the issuer to confirm the
current L/C Security expiry date, and the issuer fails to do so within ten (10) business days; (iv) Tenant fails to pay (when and as Landlord reasonably requires) any bank charges for Landlord’s transfer of the L/C Security; or
(v) the issuer of the L/C Security ceases, or announces that it will cease, to maintain an office in the city where Landlord may present drafts under the L/C Security (and fails to permit drawing upon the L/C by overnight courier or facsimile).
This Section does not limit any other provisions of this Lease allowing Landlord to draw the L/C Security under specified circumstances. 
 (d) Tenant shall not seek to enjoin, prevent, or otherwise interfere with Landlord’s draw under L/C Security, even if it violates this Lease. Tenant acknowledges that the only effect of a wrongful
draw would be to substitute a cash Security Deposit for L/C Security. Landlord shall hold the proceeds of any draw in the same manner and for the same purposes as a 

  
 14 

 
cash Security. Deposit. In the event of a wrongful draw, the parties shall cooperate to allow Tenant to post replacement L/C Security simultaneously with the return to Tenant of the wrongfully
drawn sums, and Landlord shall upon request confirm in writing to the issuer of the L/C Security that Landlord’s draw was erroneous. 
 (e) If Landlord transfers its interest in the Premises, then Tenant shall at Tenant’s expense, within five (5) business days after receiving a request from Landlord, deliver (and, if the issuer
requires, Landlord shall consent to) an amendment to the L/C Security naming Landlord’s grantee as substitute beneficiary. If the required Security Deposit changes while L/C Security is in force, then Tenant shall deliver (and, if the issuer
requires, Landlord shall consent to) a corresponding amendment to the L/C Security. 
 12. Use. 

12.1. Tenant shall use the Premises for the purpose set forth in Section 2.7, and shall not use the Premises, or permit or
suffer the Premises to be used, for any other purpose without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. 
 12.2. Tenant shall not use or occupy the Premises in violation of Applicable Laws; zoning ordinances; or the certificate of occupancy issued for the Building or the Project, and shall, upon five
(5) days’ written notice from Landlord, discontinue any use of the Premises that is declared or claimed by any Governmental Authority having jurisdiction to be a violation of any of the above or that in Landlord’s reasonable opinion
violates any of the above (provided that, in lieu of discontinuing such use, Tenant may contest the Governmental Authority’s declaration or claim, or alter such use in a way that is acceptable to such Governmental Authority or Landlord, as
applicable). Tenant shall comply with any direction of any Governmental Authority having jurisdiction that shall, by reason of the nature of Tenant’s particular use or occupancy of the Premises, impose any duty upon Tenant or Landlord with
respect to the Premises or with respect to the use or occupation thereof. 
 12.3. Tenant shall not do or permit to be done
anything that will invalidate or increase the cost of any fire, environmental, extended coverage or any other insurance policy covering the Building or the Project, and shall comply with all rules, orders, regulations and requirements of the
insurers of the Building and the Project, and Tenant shall promptly, upon demand, reimburse Landlord for any additional premium charged for such policy by reason of Tenant’s failure to comply with the provisions of this Article. 

12.4. Tenant shall keep all doors opening onto public corridors closed, except when in use for ingress and egress, 

12.5. No additional locks or bolts of any kind shall be placed upon any of the doors or windows by Tenant, nor shall any changes be made
to existing locks or the mechanisms thereof without Landlord’s prior written consent. Tenant shall, upon termination of this Lease, return to Landlord all keys to offices and restrooms either furnished to or otherwise procured by Tenant. In the
event any key so furnished to Tenant is lost, Tenant shall pay to Landlord the cost of 

  
 15 

 
replacing the same or of changing the lock or locks opened by such lost key if Landlord shall deem it necessary to make such change. 

12.6. No awnings or other projections shall be attached to any outside wall of the Building. No curtains, blinds, shades or screens shall
be attached to or hung in, or used in connection with, any window or door of the Premises other than Landlord’s standard window coverings. Neither the interior nor exterior of any windows shall be coated or otherwise sunscreened without
Landlord’s prior written consent, nor shall any bottles, parcels or other articles be placed on the windowsills. No equipment, furniture or other items of personal property shall be placed on any exterior balcony without Landlord’s prior
written consent. 
 12.7. Tenant shall be entitled to the following signage to the extent permitted by Applicable Laws and to
the extent it does not prevent another tenant of the Building from receiving its pro rata share of the Building signage: (i) Building-top signage on the side facing Genesee Avenue, (ii) monument signage to replace the existing monument
signage for Chimeros, Inc., and (iii) signage in the main lobby on the glass walls near the entry, all of which signage shall conform to the criteria and design set forth in Exhibit H attached hereto (collectively,
“Signage”). Landlord will use commercially reasonable efforts to assist Tenant in obtaining the required approvals for the Signage at no cost to Landlord. For any Signage, Tenant shall, at Tenant’s own cost and expense,
(a) acquire all permits for such Signage in compliance with Applicable Laws and (b) design, fabricate, install and maintain such Signage in a first-class condition. Tenant shall be responsible for reimbursing Landlord for costs incurred by
Landlord in removing any of Tenant’s Signage upon the expiration or earlier termination of the Lease. Interior signs on doors and the directory tablet shall be inscribed, painted or affixed for Tenant by Landlord at Tenant’s sole cost and
expense, and shall be of a size, color and type and be located in a place reasonably acceptable to Landlord. The directory tablet shall be provided exclusively for the display of the name and location of tenants only. Tenant shall not place anything
on the exterior of the corridor walls or corridor doors other than Landlord’s standard lettering. At Landlord’s option, Landlord may install any Tenant Signage, and Tenant shall pay all costs associated with such installation within thirty
(30) days after demand therefor. 
 12.8. Tenant shall only place equipment within the Premises with floor loading
consistent with the Building’s structural design without Landlord’s prior written approval, and such equipment shall be placed in a location designed to carry the weight of such equipment. 

12.9. Tenant shall cause any equipment or machinery to be installed in the Premises so as to reasonably minimize or prevent sounds or
vibrations therefrom from extending into the Common Areas or other offices in the Project. 
 12.10. Tenant shall not
(a) do or permit anything to be done in or about the Premises that shall unreasonably obstruct or interfere with the rights of other tenants or occupants of the Project, or injure or annoy them, (b) use or allow the Premises to be used for
unlawful purposes, (c) cause, maintain or permit any nuisance or waste in, on or about the Project or (d) take any other action that would in Landlord’s reasonable determination in any manner adversely affect other tenants’ quiet
use and enjoyment of their space or adversely impact their ability to conduct business in a professional and suitable work environment. 

  
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 12.11. Notwithstanding any other provision herein to the contrary, from and after the
Execution Date, except as provided in Article 5 above, Tenant shall be responsible for all liabilities, costs and expenses arising out of or in connection with the compliance of the Premises with Title 24 and the Americans with Disabilities
Act, 42 U.S.C. § 12101, et seq., and any state and local accessibility laws, codes, ordinances and rules (collectively, and together with regulations promulgated pursuant thereto, the “ADA”), and Tenant shall indemnify, save,
defend and hold Landlord; its affiliates, employees, agents and contractors; and any lender, mortgagee or beneficiary (each, a “Lender”) harmless from and against any loss, cost, liability or expense (including reasonable
attorneys’ fees and disbursements) arising out of any such failure of the Premises to comply with the ADA. The provisions of this Section shall survive the expiration or earlier termination of this Lease. 

12.12. Tenant shall have the right to use the furniture and personal property currently located in the portion of the Premises previously
occupied by Chimeros, Inc., an inventory of which is attached hereto as Exhibit I (the “FF&E”), subject to the terms and conditions set forth in this Lease. Upon the expiration or earlier termination of this Lease, Tenant
shall surrender the FF&E to Landlord in the same condition as the FF&E existed as of the Execution Date, ordinary wear and tear excepted. 
 12.13. Tenant shall have access to, and full use of, the Premises twenty-four (24) hours per day seven (7) days per week. 
 13. Rules and Regulations, CC&Rs, Parking Facilities and Common Areas. 

13.1. Tenant shall have the non-exclusive right, in common with others, to use the Common Areas, subject to the rules and regulations
reasonably adopted by Landlord and attached hereto as Exhibit G, together with such other reasonable and nondiscriminatory rules and regulations as are hereafter promulgated by Landlord in its sole and absolute discretion (the “Rules
and Regulations”). Tenant shall faithfully observe and comply with the Rules and Regulations. Landlord shall not be responsible to Tenant for the violation or non-performance by any other tenant or any agent, employee or invitee thereof of
any of the Rules and Regulations; provided that Landlord shall endeavor to enforce the Rules and Regulations in a non-discriminatory manner. Tenant’s use of the Common Area conference room shall be on a first come, first served basis with the
other tenants of the Project. 
 13.2. Until such time as Landlord leases the carpeted portion of Suite 210 within the Building
as depicted on attached Exhibit A-1, Tenant shall have the right to use such area for holding seminars and meetings, subject to the one-time execution and delivery to Landlord of a right of entry agreement reasonably acceptable to both
Landlord and Tenant. Tenant will not be charged any rent for the use of Suite 210, but may be charged for costs incurred due to such use (e.g., additional cleaning fees). Until such time as another tenant leases space within the Building or Landlord
is unable to do so, Landlord shall provide Tenant with an area within the Project to store Tenant’s replacement nitrogen tanks. 
 13.3. This Lease is subject to any recorded covenants, conditions or restrictions on the Project or Property, of which Tenant has been provided a copy (the “CC&Rs”), as the same may

  
 17 

 
be amended, amended and restated, supplemented or otherwise modified from time to time; provided that any such amendments, restatements, supplements or modifications do not materially
modify Tenant’s rights or obligations hereunder. Tenant shall comply with the CC&Rs. 
 13.4. Tenant shall, at no
additional cost to Tenant during the Term or any extension thereof, have a non-exclusive, irrevocable license to use Tenant’s Pro Rata Share of parking facilities serving the Project (which shall include Tenant’s Pro Rata Share of any
covered parking) in common on an unreserved basis with other tenants of the Project during the Term. 
 13.5. Tenant agrees not
to unreasonably overburden the parking facilities and agrees to cooperate with Landlord and other tenants in the use of the parking facilities. Landlord reserves the right to determine that parking facilities are becoming overcrowded and to limit
Tenant’s use thereof. Upon such determination, Landlord may reasonably allocate parking spaces among Tenant and other tenants of the Project. Nothing in this Section, however, is intended to create an affirmative duty on Landlord’s part to
monitor parking. 
 13.6. Landlord reserves the right to modify the Common Areas, including the right to add or remove exterior
and interior landscaping and to subdivide real property; provided, however, such modifications shall not materially increase Tenant’s costs under this Lease and shall not materially diminish Tenant’s use of, or access to, the Premises.
Tenant acknowledges that Landlord specifically reserves the right to allow the exclusive use of corridors and restroom facilities located on specific floors to one or more tenants occupying such floors; provided, however, that Tenant shall
not be deprived of the use of the corridors reasonably required to serve the Premises or of restroom facilities serving the floor upon which the Premises are located. 
 14. Project Control by Landlord. 
 14.1. Landlord reserves full control
over the Building and the Project to the extent not inconsistent with Tenant’s access, use and enjoyment of the Premises as provided by this Lease. This reservation includes Landlord’s right to subdivide the Project; convert the Building
to condominium units; grant easements and licenses to third parties; maintain or establish ownership of the Building separate from fee title to the Property; make additions to or reconstruct portions of the Building and the Project; install, use,
maintain, repair, replace and relocate for service to the Premises and other parts of the Building or the Project pipes, ducts, conduits, wires and appurtenant fixtures, wherever located in the Premises, the Building or elsewhere at the Project; and
alter or relocate any other Common Area or facility, including private drives, lobbies and entrances. 
 14.2. The right to
access areas of the Premises necessary for utilities, services, safety and operation of the Building is reserved to Landlord. 

14.3. Tenant shall, at Landlord’s request, promptly execute such further commercially reasonable documents as may be reasonably
appropriate to assist Landlord in the performance of its obligations hereunder; provided that Tenant need not execute any document that creates 

  
 18 

 
additional liability for Tenant, that creates any costs for Tenant (unless reimbursed by Landlord), or that materially diminishes Tenant’s quiet enjoyment and use of the Premises as provided
for in this Lease. 
 14.4. Landlord may, at any and all reasonable times during non-business hours (or during business hours if
Tenant so requests), and upon twenty-four (24) hours’ prior notice (provided that no time restrictions shall apply or advance notice be required if an emergency that, in Landlord’s reasonable opinion, poses an immediate risk of
harm to persons or property necessitates immediate entry), enter the Premises to (a) inspect the same and to determine whether Tenant is in compliance with its obligations hereunder, (b) supply any service Landlord is required to provide
hereunder, (c) show the Premises to prospective purchasers or tenants during the final year of the Term, (d) post notices of nonresponsibility, (e) access the telephone equipment, electrical substation and fire risers and
(f) alter, improve or repair any portion of the Building other than the Premises for which access to the Premises is reasonably necessary. In connection with any such alteration, improvement or repair as described in Subsection 14.4(f),
Landlord may erect in the Premises or elsewhere in the Project scaffolding and other structures reasonably required for the alteration, improvement or repair work to be performed. In no event shall Tenant’s Rent abate as a result of
Landlord’s activities pursuant to this Section; provided, however, that all such activities shall be conducted in such a manner so as to cause as little interference to Tenant as is reasonably possible and Landlord will perform all work
diligently and continuously until completion. Landlord shall at all times retain a key with which to unlock all of the doors in the Premises. If an emergency that, in Landlord’s reasonable opinion, poses an immediate risk of harm to person or
property necessitates immediate access to the Premises, Landlord may use whatever force is necessary to enter the Premises, and any such entry to the Premises shall not constitute a forcible or unlawful entry to the Premises, a detainer of the
Premises, or an eviction of Tenant from the Premises or any portion thereof. Notwithstanding anything to the contrary contained herein, because of the proprietary nature of the materials and information in the Premises and the potential for material
harm to Tenant’s business in the event such information were compromised, Tenant is hereby granted the right to designate certain portions of the Premises as “Secured Area(s)” and reserves the right to install door locks or
other access control systems as necessary to secure such Secured Area(s), and Landlord agrees not to enter such Secured Area(s) except in the case of an emergency, unless it shall have first obtained Tenant’s consent and Tenant has a reasonable
opportunity to have a representative present (at the option of Tenant). Tenant hereby releases Landlord and waives any Claim against Landlord arising out of or related to Landlord’s inability to gain timely access to the Secured Areas.

 15. Quiet Enjoyment. So long as Tenant is not in default under this Lease, Landlord or anyone acting through or under Landlord shall
not disturb Tenant’s occupancy of the Premises, except as permitted by this Lease. 
  

	16.	Utilities and Services. 

16.1. Tenant shall pay for all water (including the cost to service, repair and replace reverse osmosis, de-ionized and other treated
water), gas, heat, light, power, telephone, internet service, cable television, other telecommunications and other utilities supplied to the Premises, 

  
 19 

 
together with any applicable fees, surcharges and taxes thereon. If any such utility is not separately metered to Tenant, Tenant shall pay a reasonable proportion (to be determined by Landlord
based on Tenant’s usage) of all charges of such utility jointly metered with other premises as Additional Rent or, in the alternative, Landlord may, at its option, monitor the usage of such utilities by Tenant with metering equipment (installed
at Landlord’s sole cost and expense), which cost shall be paid by Tenant as Additional Rent. To the extent that Tenant uses more than Tenant’s proportional share of any item of Operating Expenses or utilities, then Tenant shall pay
Landlord for such excess in addition to Tenant’s obligation to pay Tenant’s Pro Rata Share of Operating Expenses. In the event that the Building or Project is less than fully occupied, Tenant acknowledges that Landlord may extrapolate the
utility usage by dividing (a) the total cost of utility usage by (b) the Rentable Area of the Building or Project (as applicable) that is occupied, then multiplying (y) the resulting quotient by (z) the total Rentable Area of the
Building or Project (as applicable). Tenant shall pay Tenant’s Pro Rata Share of the product of (y) and (z), subject to adjustment based on actual usage as reasonably determined by Landlord; provided, however, that Landlord shall
not recover more than one hundred percent (100%) of such utility costs. Further, in calculating utilities pursuant to the foregoing adjustment, Landlord will ensure that any vacant space is not being supplied with utilities, or if vacant space
is being supplied with utilities, then such space will be deemed “occupied” for purposes of the foregoing calculation. 
 16.2. Except as provided in this Section 16.2, Landlord shall not be liable for, nor shall any eviction of Tenant result from, the failure to furnish any utility or service (including E-power (as
defined below)), whether or not such failure is caused by accident; breakage; repair; strike, lockout or other labor disturbance or labor dispute of any character; act of terrorism; shortage of materials, which shortage is not unique to Landlord or
Tenant, as the case may be; governmental regulation, moratorium or other governmental action, inaction or delay; other causes beyond Landlord’s control; or Landlord’s negligence (collectively, “Force Majeure”). In the
event of such failure, except as provided in this Section 16.2, Tenant shall not be entitled to termination of this Lease or any abatement or reduction of Rent, nor shall Tenant be relieved from the operation of any covenant or agreement of
this Lease. Notwithstanding anything to the contrary in this Lease, in the event that Tenant is prevented from using all or a portion of the Premises if, as a result of Landlord’s gross negligence or willful misconduct, Landlord fails to
furnish any utility, or service and if such failure or circumstance continues for more than five (5) consecutive business days after written notice from Tenant, then Tenant’s obligation to pay Base Rent and Operating Expenses shall
thereafter be abated to the extent of and for such time that Tenant continues to be so prevented from using the Premises or a portion thereof. 
 16.3. Tenant shall pay for, prior to delinquency of payment therefor, any utilities and services that may be furnished to the Premises during or, if Tenant occupies the Premises after the expiration or
earlier termination of the Term, after the Term, beyond those utilities provided by Landlord, including telephone, internet service, cable television and other telecommunications, together with any fees, surcharges and taxes thereon. Upon
Landlord’s demand, utilities and services provided to the Premises that are separately metered shall be paid by Tenant directly to the supplier of such utilities or services. 

  
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 16.4. Tenant shall not, without Landlord’s prior written consent, use any device in the
Premises (excepting those devices commonly used for the Permitted Use) that will in any way increase the amount of ventilation, air exchange, gas, steam, electricity or water beyond the existing capacity of the Building or the Project except to the
extent that Tenant pays the cost to increase the Building’s capacity to provide such ventilation, air exchange, gas, steam, electricity or water (whether as part of the Tenant Improvements or otherwise). Tenant shall, at all times during the
Term and any extension thereof, have access to and use of at least Tenant’s Pro Rata Share of the Building’s ventilation, air exchange, gas, steam, electricity and water provided that Tenant’s Pro Rata Share shall in no event be less
than is required to operate Tenant’s business as of the Term Commencement Date. Nothing in this Section 16.4 shall prohibit Tenant’s right to use any device (x) existing in the Premises prior to the Term Commencement Date,
(y) commonly used for the Permitted Use and/or (z) included as part of the Tenant Improvements. 
 16.5. If Tenant
shall require utilities or services in excess of those usually furnished or supplied for tenants in similar spaces in the Building or the Project by reason of Tenant’s equipment or extended hours of business operations, then Tenant shall first
procure Landlord’s consent for the use thereof, which consent Landlord may condition upon the availability of such excess utilities or services, and Tenant shall pay as Additional Rent an amount equal to the cost of providing such excess
utilities and services. 
 16.6. Upon Landlord’s demand, utilities and services provided to the Premises that are
separately metered shall be paid by Tenant directly to the supplier of such utility or service. 
 16.7. Landlord shall provide
water in Common Areas for lavatory purposes only; provided, however, that if Landlord determines that Tenant requires, uses or consumes water for any purpose other than ordinary lavatory purposes, Landlord may install a water meter and
thereby measure Tenant’s water consumption for all purposes. Tenant shall pay Landlord for the costs of such meter and the installation thereof and, throughout the duration of Tenant’s occupancy of the Premises, Tenant shall keep said
meter and installation equipment in good working order and repair at Tenant’s sole cost and expense. If Tenant fails to so maintain such meter and equipment, Landlord may repair or replace the same and shall collect the costs therefor from
Tenant. Tenant agrees to pay for water consumed, as shown on said meter, as and when bills are rendered. If Tenant fails to timely make such payments, Landlord may pay such charges and collect the same from Tenant. Any such costs or expenses
incurred, or payments made by Landlord for any of the reasons or purposes hereinabove stated, shall be deemed to be Additional Rent payment by Tenant and collectible by Landlord as such. 

16.8. Upon reasonable prior notice, Landlord reserves the right to stop service of the elevator, plumbing, ventilation, air conditioning
and electric systems, when Landlord reasonably deems necessary, due to accident, emergency or the need to make repairs, alterations or improvements, until such repairs, alterations or improvements shall have been completed, and, except as provided
in Section 16.2 above, Landlord shall further have no responsibility or liability for failure to supply elevator facilities, plumbing, ventilation, air conditioning or electric service when prevented from doing so by Force Majeure; a
failure by a third party to deliver gas, oil or another suitable fuel supply; or Landlord’s inability by exercise of reasonable diligence to 

  
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obtain gas, oil or another suitable fuel. Without limiting the foregoing, it is expressly understood and agreed that any covenants on Landlord’s part to furnish any service pursuant to any
of the terms, covenants, conditions, provisions or agreements of this Lease, or to perform any act or thing for the benefit of Tenant, shall not be deemed breached if Landlord is unable to furnish or perform the same by virtue of Force Majeure.
Landlord shall use commercially reasonable efforts at all times in exercising its rights pursuant to this Section in a manner so as to minimize or prevent any interference with Tenant’s use of, or access to, the Premises and to perform such
repairs outside of normal business hours. 
 16.9. For the Premises, Landlord shall (a) maintain and operate the heating,
ventilating and air conditioning systems used for the Permitted Use only (“HVAC”) and (b) subject to clause (a) above, furnish HVAC as reasonably required (except as this Lease otherwise provides) for reasonably
comfortable occupancy of the Premises twenty-four (24) hours a day, every day during the Term, subject to casualty, eminent domain or as otherwise specified in this Article. Notwithstanding anything to the contrary in this Section (but subject
to Section 16.2 above), Landlord shall have no liability, and Tenant shall have no right or remedy, on account of any interruption or impairment in HVAC services; provided that Landlord diligently endeavors to cure any such interruption
or impairment. 
 16.10. For any utilities serving the Premises for which Tenant is billed directly by such
utility provider, Tenant agrees to furnish to Landlord (a) any invoices or statements for such utilities within thirty (30) days after Tenant’s receipt thereof, (b) within thirty (30) days after Landlord’s request, any
other utility usage information reasonably requested by Landlord, and (c) within thirty (30) days after each calendar year during the Term, an ENERGY STAR® Statement of Performance (or similar comprehensive utility usage report (e.g., related to Labs 21), if requested by Landlord) and any other information reasonably
requested by Landlord for the immediately preceding year. Tenant shall retain records of utility usage at the Premises, including invoices and statements from the utility provider, for at least sixty (60) months, or such other period of time as
may be requested by Landlord. Tenant acknowledges that any utility information for the Premises, the Building and the Project may be shared with third parties, including Landlord’s consultants and Governmental Authorities. In the event that
Tenant fails to comply with this Section, Tenant hereby authorizes Landlord to collect utility usage information directly from the applicable utility providers. 
 16.11. Tenant shall have the non-exclusive right in common with other tenants of the Building to connect Tenant’s laboratory equipment to the Building’s emergency power generators
(“E-power”) and shall have the right to use Tenant’s Pro Rata Share of such E-power in the event that such generators are put into service when normal utility power is interrupted. Tenant shall submit the power requirements of
its laboratory equipment to Landlord prior to making any connection to the E-Power and shall update Landlord from time to time as such requirements change. Landlord may deny Tenant’s right to connect any equipment to the E-Power that would
exceed Tenant’s Pro Rata Share of the E-power, as determined by Landlord in Landlord’s reasonable discretion. 

  
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 17. Alterations. 
 17.1. Tenant shall make no alterations, additions or improvements in or to the Premises or engage in any construction, demolition, reconstruction, renovation, or other work (whether major or minor) of any
kind in, at, or serving the Premises (“Alterations”) without Landlord’s prior written approval, which approval Landlord shall not unreasonably withhold; provided, however, that in the event any proposed Alteration
affects (a) any structural portions of the Building, including exterior walls, roof, foundation, foundation systems (including barriers and subslab systems), or core of the Building, (b) the exterior of the Building or (c) any
Building systems, including elevator, plumbing, air conditioning, heating, electrical, security, life safety and power, then Landlord may withhold its approval with respect thereto in its sole and absolute discretion. Tenant shall, in making any
such Alterations, use only those architects, contractors, suppliers and mechanics of which Landlord has given prior written approval, which approval shall be in Landlord’s sole and absolute discretion (provided the architect and contractors who
performed the initial Tenant Improvements will be approved). In seeking Landlord’s approval, Tenant shall provide Landlord, at least fourteen (14) days in advance of any proposed construction, with plans, specifications, bid proposals,
certified stamped engineering drawings and calculations by Tenant’s engineer of record or architect or record, (including connections to the Building’s structural system, modifications to the Building’s envelope, non-structural
penetrations in slabs or walls, and modifications or tie-ins to life safety systems), work contracts, requests for laydown areas and such other information concerning the nature and cost of the Alterations as Landlord may reasonably request. In no
event shall Tenant use or Landlord be required to approve any architects, consultants, contractors, subcontractors or material suppliers that Landlord reasonably believes could cause labor disharmony. Notwithstanding anything to the contrary in this
Lease, Tenant may make strictly cosmetic changes to the Premises (“Cosmetic Alterations”) without Landlord’s consent; provided that the cost of any Cosmetic Alterations does not exceed Fifty Thousand Dollars ($50,000) annually;
and further provided that such Cosmetic Alterations do not (a) require any structural or other substantial modifications to the Premises, (b) require any changes to, or adversely affect, the Building systems, (c) affect the exterior
of the Building or (d) trigger any legal requirement that would require Landlord to make any alteration or improvement to the Premises, the Building or the Project. Tenant shall give Landlord at least ten (10) days’ prior written
notice of any Cosmetic Alterations. Notwithstanding anything to the contrary in this Lease, Tenant shall have the right, subject to compliance with Applicable Laws, to construct and install a structure or shed (including utilities to service the
structure/shed) in a portion of the parking facilities allocated to Tenant as part of Tenant’s Pro Rata Share of parking classified by the UBC as an “H” occupancy area for the use and storage of Hazardous Materials (“the
“H Shed”). 
 17.2. Tenant shall not construct or permit to be constructed partitions or other obstructions
that might interfere with free access to mechanical installation or service facilities of the Building or with other tenants’ components located within the Building, or interfere with the moving of Landlord’s equipment to or from the
enclosures containing such installations or facilities. 

  
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 17.3. Tenant shall accomplish any work performed on the Premises or the Building in such a
manner as to permit any life safety systems to remain fully operable at all times. 
 17.4. Any work performed on the Premises,
the Building or the Project by Tenant or Tenant’s contractors shall be done at such times and in such manner as Landlord may from time to time reasonably designate. Tenant covenants and agrees that all work done by Tenant or Tenant’s
contractors shall be performed in full compliance with Applicable Laws. Within thirty (30) days after completion of any Alterations, Tenant shall provide Landlord with complete “as-built” drawing print sets and electronic CADD files
on disc (or files in such other current format in common use as Landlord reasonably approves or requires) showing any changes in the Premises. 
 17.5. Before commencing any work, Tenant shall give Landlord at least fourteen (14) days’ prior written notice of the proposed commencement of such work and shall, if required by Landlord,
secure, at Tenant’s own cost and expense, a completion and lien indemnity bond satisfactory to Landlord for said work. No completion and lien indemnity bond will be required for the initial Tenant Improvements or the H Shed. 

17.6. All Alterations, attached equipment, decorations, fixtures, attached laboratory casework and related appliances, additions and
improvements, subject to Section 17.8, attached to or built into the Premises, made by either of the Parties, including all floor and wall coverings, built-in cabinet work and paneling, sinks and related plumbing fixtures, laboratory
benches, exterior venting fume hoods and walk-in freezers and refrigerators, ductwork, conduits, electrical panels and circuits, shall (unless, prior to such construction or installation, Landlord elects otherwise) become the property of Landlord
upon the expiration or earlier termination of the Term, and shall remain upon and be surrendered with the Premises as a part thereof. The initial Tenant Improvements will be surrendered upon the expiration or earlier termination of this Lease and
Tenant shall have no obligation to remove any portion of the initial Tenant Improvements. The Premises shall at all times remain the property of Landlord and shall be surrendered to Landlord upon the expiration or earlier termination of this Lease.
Notwithstanding the foregoing, all trade fixtures, equipment affixed to the Premises, or other appliances or fixtures installed by or under Tenant and paid for by Tenant shall be and remain the property of Tenant; provided that Tenant must repair
any damage to the Premises caused by the removal of such items. Any of Tenant’s personal property which is not affixed to the Premises will be and remain the property of Tenant and will be removed by Tenant on or before the expiration or
earlier termination of this Lease. 
 17.7. Tenant shall repair any damage to the Premises caused by Tenant’s removal of
any property from the Premises. During any such restoration period, Tenant shall pay Rent to Landlord as provided herein as if said space were otherwise occupied by Tenant. The provisions of this Section shall survive the expiration or earlier
termination of this Lease. 
 17.8. Except as to those items listed on Exhibit F attached hereto (as the same may be
revised from time to time by written notice from Tenant to Landlord) or as otherwise provided in this Lease (including without limitation Section 17.6 above), all built-in machinery and equipment existing as of the Term Commencement Date
or paid for by Landlord, built-in 

  
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furniture and cabinets, together with all additions and accessories thereto, installed in and upon the Premises in part or wholly at Landlord’s cost shall be and remain the property of
Landlord and shall not be moved by Tenant at any time during the Term. If Tenant shall fail to remove any of its effects from the Premises prior to termination of this Lease, then Landlord may, at its option, remove the same in any manner that
Landlord shall choose and store said effects without liability to Tenant for loss thereof or damage thereto, and Tenant shall pay Landlord, upon demand, any costs and expenses incurred due to such removal and storage or Landlord may, at its sole
option and without notice to Tenant, sell such property or any portion thereof at private sale and without legal process for such price as Landlord may obtain and apply the proceeds of such sale against any (a) amounts due by Tenant to Landlord
under this Lease and (b) any expenses incident to the removal, storage and sale of said personal property, provided that any remaining amounts shall be promptly delivered to Tenant. 

17.9. Notwithstanding any other provision of this Article to the contrary, in no event shall Tenant remove any improvement from the
Premises as to which Landlord contributed payment, including the Tenant Improvements, without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. 

17.10. Tenant shall pay to Landlord an amount equal to three percent (3%) of the cost to Tenant of all Alterations installed by
Tenant or its contractors or agents to cover Landlord’s overhead and expenses for plan review, coordination, scheduling and supervision thereof. For purposes of payment of such sum, Tenant shall submit to Landlord copies of all bills, invoices
and statements covering the costs of such charges, accompanied by payment to Landlord of the fee set forth in this Section. Tenant shall reimburse Landlord for any extra expenses incurred by Landlord by reason of faulty work done by Tenant or its
contractors, or by reason of delays caused by such work, or by reason of inadequate clean-up. 
 17.11. Within sixty
(60) days after final completion of the Tenant Improvements (or any other Alterations performed by Tenant with respect to the Premises), Tenant shall submit to Landlord documentation showing the amounts expended by Tenant with respect to such
Tenant Improvements (or any other Alterations performed by Tenant with respect to the Premises), together with supporting documentation reasonably acceptable to Landlord. 
 17.12. Tenant shall require its contractors and subcontractors performing work on the Premises to name Landlord and its affiliates and Lenders as additional insureds on their respective insurance
policies. 
 18. Repairs and Maintenance. 
 18.1. Landlord shall repair and maintain the structural and exterior portions and Common Areas of the Building and the Project, including without limitation the roofing (including the structural portions
of the roof as well as the roof membrane) and covering materials; foundations; floor/ceiling slabs, columns, beams, shafts, exterior walls; plumbing; fire sprinkler systems (if any); heating, ventilating, air conditioning systems; elevators; and
electrical systems installed or furnished by Landlord. 

  
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 18.2. Except for services of Landlord, if any, required by Section 18.1, Tenant
shall at Tenant’s sole cost and expense maintain and keep the Premises and every part thereof in good condition and repair, damage thereto from ordinary wear and tear excepted. Tenant shall, upon the expiration or sooner termination of the
Term, surrender the Premises to Landlord in as good a condition as when received, ordinary wear and tear excepted. Tenant shall, at Landlord’s request, remove all telephone and data systems, wiring and equipment from the Premises, but only to
the extent any of the foregoing were installed by Tenant (i.e. Tenant shall not be required to remove any telephone and data systems, wiring and equipment existing in the Premises as of the Execution Date) and repair any damage to the Premises
caused thereby. Landlord shall have no obligation to alter, remodel, improve, repair, decorate or paint the Premises or any part thereof, other than pursuant to the terms and provisions of this Lease. 

18.3. Subject to Section 16.2, Landlord shall not be liable for any failure to make any repairs or to perform any maintenance
that is an obligation of Landlord unless such failure shall persist for an unreasonable time after Tenant provides Landlord with written notice of the need of such repairs or maintenance. Tenant waives its rights under Applicable Laws now or
hereafter in effect to make repairs at Landlord’s expense. 
 18.4. If any excavation shall be made upon land adjacent to
or under the Building, or shall be authorized to be made, Tenant shall afford to the person causing or authorized to cause such excavation, license to enter the Premises for the purpose of performing such work as said person shall deem necessary or
desirable to preserve and protect the Building from injury or damage and to support the same by proper foundations, without any claim for damages or liability against Landlord and without reducing or otherwise affecting Tenant’s obligations
under this Lease. 
 18.5. This Article relates to repairs and maintenance arising in the ordinary course of operation of the
Building and the Project. In the event of a casualty described in Article 24, Article 24 shall apply in lieu of this Article. In the event of eminent domain, Article 25 shall apply in lieu of this Article. 

18.6. Costs incurred by Landlord pursuant to this Article shall constitute Operating Expenses (but only to the extent included in the
definition of Operating Expenses), unless such costs are incurred due in, whole or in part to any neglect, fault or omissions of Tenant or its employees, agents, contractors or invitees, in which case Tenant shall pay to Landlord the cost of such
repairs and maintenance. 
 19. Liens. 
 19.1. Subject to the immediately succeeding sentence, Tenant shall keep the Premises, the Building and the Project free from any liens arising out of work performed, materials furnished or obligations
incurred by Tenant. Tenant further covenants and agrees that any mechanic’s lien filed against the Premises, the Building or the Project for work claimed to have been done for, or materials claimed to have been furnished to, shall be discharged
or bonded by Tenant within ten (10) business days after the filing thereof, at Tenant’s sole cost and expense. 

  
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 19.2. Should Tenant fail to discharge or bond against any lien of the nature described in
Section 19.1, Landlord may, at Landlord’s election, pay such claim or post a bond or otherwise provide security to eliminate the lien as a claim against title, and Tenant shall immediately reimburse Landlord for the costs thereof as
Additional Rent. Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold Landlord and its affiliates, employees, agents, Lenders and contractors harmless from and against any loss,
cost, liability or expense (including reasonable attorneys’ fees and disbursements) arising from any such liens, including any administrative, court or other legal proceedings related to such liens. 

19.3. In the event that Tenant leases or finances the acquisition of office equipment, furnishings or other personal property of a
removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any Uniform Commercial Code financing statement shall, upon its face or by exhibit thereto, indicate that such financing statement is applicable
only to removable personal property of Tenant located within the Premises. In no event shall the address of the Premises, the Building or the Project be furnished on a financing statement without qualifying language as to applicability of the lien
only to removable personal property located in an identified suite leased by Tenant. Should any holder of a financing statement record or place of record a financing statement that appears to constitute a lien against any interest of Landlord or
against equipment that may be located other than within an identified suite leased by Tenant, Tenant shall, within thirty (30) days after filing such financing statement, cause (a) a copy of the Lender security agreement or other documents
to which the financing statement pertains to be furnished to Landlord to facilitate Landlord’s ability to demonstrate that the lien of such financing statement is not applicable to Landlord’s interest and (b) Tenant’s Lender to
amend such financing statement and any other documents of record to clarify that any liens imposed thereby are not applicable to any interest of Landlord in the Premises, the Building or the Project. 

20. Estoppel Certificate. Tenant shall, within ten (10) business days of receipt of written notice from Landlord, execute, acknowledge and
deliver a statement in writing substantially in the form attached to this Lease as Exhibit G, or on any other form reasonably requested by a proposed Lender or purchaser, (a) certifying that this Lease is unmodified and in full force and
effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect) and the dates to which rental and other charges are paid in advance, if any, (b) acknowledging that
there are not, to Tenant’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed, and (c) setting forth such further information with respect to this Lease or the Premises as may
be requested thereon. Any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the real property of which the Premises are a part. Tenant’s failure to deliver such statement within such the
prescribed time shall, at Landlord’s option, constitute a Default (as defined below) under this Lease, and, in any event, shall be binding upon Tenant that the Lease is in full force and effect and without modification except as may be
represented by Landlord in any certificate prepared by Landlord and delivered to Tenant for execution. 

  
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 21. Hazardous Materials. 
 21.1. Tenant shall not cause or permit any Hazardous Materials (as defined below) to be brought upon, kept or used in or about the Premises, the Building or the Project in violation of Applicable Laws by
Tenant or its employees, agents, contractors or invitees. If Tenant breaches such obligation, or if the presence of Hazardous Materials as a result of such a breach results in contamination of the Premises, the Building, the Project or
any adjacent property, or if contamination of the Premises occurs during the Term or any extension or renewal hereof or holding over hereunder (other than if such contamination results from (a) migration of Hazardous Materials from outside the
Premises not caused by Tenant or its employees, agents, contractors or invitees or (b) to the extent such contamination is solely caused by Landlord’s gross negligence or willful misconduct), then Tenant shall indemnify, save, defend and
hold Landlord, its agents and contractors harmless from and against any and all demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and all reasonable expenses (including reasonable attorneys’
fees, charges and disbursements) incurred in investigating or resisting the same (collectively, “Claims”), including (a) diminution in value of the Premises, the Building, the Project or any portion thereof, (b) damages
for the loss or restriction on use of rentable or usable space or of any amenity of the Premises or Project, (c) damages arising from any adverse impact on marketing of space in the Premises, the Building or the Project and (d) sums paid
in settlement of Claims, attorneys’ fees, consultants’ fees and experts’ fees) that arise during or after the Term as a result of such breach or contamination. This indemnification of Landlord by Tenant includes costs incurred in
connection with any investigation of site conditions or any cleanup, remedial, removal or restoration work required by any Governmental Authority because of Hazardous Materials present in the air, soil or groundwater above, on or under the Premises.
Without limiting the foregoing, if the presence of any Hazardous Materials in, on, under or about the Premises, the Building, the Project or any adjacent property caused or permitted by Tenant results in any contamination of the Premises, the
Building, the Project or any adjacent property, then Tenant shall promptly take all actions at its sole cost and expense as are necessary to return the Premises, the Building, the Project and any adjacent property to their respective condition
existing prior to the time of such contamination; provided that Landlord’s written approval of such action shall first be obtained, which approval Landlord shall not unreasonably withhold; and provided, further, that it shall be
reasonable for Landlord to withhold its consent if such actions could have a material adverse long-term or short-term effect on the Premises, the Building or the Project. In the event Landlord receives notice of a Claim for which Tenant is obligated
to indemnify Landlord pursuant to this Section 21.1, then Landlord shall (i) promptly provide notice to Tenant of such Claim, (ii) take all reasonable measures to mitigate any damages thereunder, and (iii) not enter into any
settlement agreement without the express written consent of Tenant, which consent shall not be unreasonably withheld, conditioned or delayed. 
 21.2. Landlord acknowledges that it is not the intent of this Article to prohibit Tenant from operating its business for the Permitted Use. Tenant may operate its business according to the custom of
Tenant’s industry so long as the use or presence of Hazardous Materials is strictly and properly monitored in accordance with Applicable Laws. As a material inducement to Landlord to allow Tenant to use Hazardous Materials in connection with
its business, Tenant 

  
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agrees to deliver to Landlord prior to the Term Commencement Date a list identifying each type of Hazardous Material to be present on the Premises and setting forth any and all governmental
approvals or permits required in connection with the presence of such Hazardous Material on the Premises (the “Hazardous Materials List”). Tenant shall deliver to Landlord an updated Hazardous Materials List on or prior to each
annual anniversary of the Term Commencement Date and shall also deliver an updated Hazardous Materials List before any new Hazardous Materials are brought onto the Premises. Tenant shall deliver to Landlord true and correct copies of the following
documents (hereinafter referred to as the “Documents”) relating to the handling, storage, disposal and emission of Hazardous Materials prior to the Term Commencement Date or, if unavailable at that time, concurrent with the receipt
from or submission to any Governmental Authority: permits; approvals; reports and correspondence; storage and management plans; notices of violations of Applicable Laws; plans relating to the installation of any storage tanks to be installed in or
under the Premises, the Building or the Project (provided that installation of storage tanks shall only be permitted after Landlord has given Tenant its written consent to do so, which consent Landlord may withhold in its sole and absolute
discretion except that Tenant shall have the right to keep dewars inside the Premises and to keep other compressed gas tanks (e.g. Nitrogen) on the Premises in compliance with Applicable Laws; and all closure plans or any other documents required by
any and all Governmental Authorities for any storage tanks installed in, on or under the Premises, the Building or the Project for the closure of any such storage tanks. Tenant shall not be required, however, to provide Landlord with any portion of
the Documents containing information of a proprietary nature that, in and of themselves, do not contain a reference to any Hazardous Materials or activities related to Hazardous Materials. Landlord agrees that, at all times during the Term and any
extension thereof, Tenant shall be allocated one (1) fire control area (as defined in the Uniform Building Code as adopted by the city or municipality(ies) in which the Project is located (the “UBC”)) within the Building and
the Project for the storage of Hazardous Materials. In addition, Tenant shall have the right, at Tenant’s sole cost and expense, or as part of the TI Allowance, to establish and maintain in the parking facilities serving the Project and
allocated to Tenant (as part of Tenant’s Pro Rata share of such areas) the “H Shed” for additional storage of Hazardous Materials; or to demise an area of the Premises in accordance with the UBC and Applicable Laws for the use and
storage of such Hazardous Materials, and subject to the approval of Landlord in Landlord’s reasonable discretion. 
 21.3.
Landlord has provided Tenant with the Exit Assessment from the prior tenant of the Premises, Chimeros, Inc., prepared by Occupational Services, Inc. and dated March 1, 2010. Upon the expiration or earlier termination of this Lease, Tenant shall
cause a similar exit assessment to be prepared and provided to Landlord as evidence that the Premises is being surrendered in the condition required hereunder. 
 21.4. At any time, and from time to time, prior to the expiration of the Term, Landlord shall have the right to conduct appropriate tests of the Premises, the Building and the Project to demonstrate that
Hazardous Materials are present or that contamination has occurred due to Tenant or Tenant’s employees, agents, contractors or invitees. Tenant shall pay all reasonable costs of such tests of the Premises but only if such testing shows that
Hazardous Materials are present in violation of this Lease or Applicable Laws. 

  
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 21.5. If underground or other storage tanks storing Hazardous Materials are hereafter placed
on the Premises by any party under Tenant’s control, Tenant shall monitor the storage tanks, maintain appropriate records, implement reporting procedures, properly close any underground storage tanks, and take or cause to be taken all other
steps necessary or required under the Applicable Laws. 
 21.6. Tenant’s obligations under this Article shall survive the
expiration or earlier termination of the Lease. During any period of time needed by Tenant or Landlord after the termination of this Lease to complete the removal from the Premises of any such Hazardous Materials, Tenant shall be deemed a holdover
tenant and subject to the provisions of Article 27 below. 
 21.7. As used herein, the term “Hazardous
Material” means any hazardous or toxic substance, material or waste that is or becomes regulated by any Governmental Authority. 
 22.
Odors and Exhaust. Landlord and Tenant acknowledge that the nature of Tenant’s business operations will result in wet lab odors and fumes, and such odors and fumes shall be permitted so long as they do not result in levels which are
excessive given the Permitted Use. Landlord and Tenant therefore agree as follows: 
 22.1. The Building has a ventilation
system that, in Landlord’s judgment, is adequate, suitable, and appropriate to vent the Premises in a manner that does not release odors affecting any indoor or outdoor part of the Project, and Tenant shall vent the Premises through such
system. If Landlord at any time determines that any existing ventilation system is inadequate and fumes or odors from Tenant’s Premises are causing complaints from neighboring tenants or Governmental Authorities, Tenant shall use commercially
reasonable efforts to promptly upgrade or modify the ventilation system in order to address the issues raised. The placement and configuration of all ventilation exhaust pipes, louvers and other equipment shall be subject to Landlord’s
approval. Tenant acknowledges Landlord’s legitimate desire to maintain the Project (indoor and outdoor areas) in an odor-free manner, and Landlord may require Tenant to abate and remove unreasonable odors in a manner that goes beyond the
requirements of Applicable Laws. 
 22.2. Tenant shall, at Tenant’s sole cost and expense, provide odor eliminators and
other devices (such as filters, air cleaners, scrubbers and whatever other equipment may in Landlord’s judgment be necessary or appropriate from time to time) to remove, eliminate and abate any odors, fumes or other substances in Tenant’s
exhaust stream that, in Landlord’s reasonable judgment, emanate from Tenant’s Premises. Any work Tenant performs under this Section shall constitute Alterations. 
 22.3. Tenant’s responsibility to remove, eliminate and abate odors, fumes and exhaust shall continue throughout the Term. Landlord’s approval of the Tenant Improvements shall not preclude
Landlord from requiring additional measures to eliminate odors, fumes and other adverse impacts of Tenant’s exhaust stream (as Landlord may designate in Landlord’s discretion). Tenant shall install additional equipment as Landlord requires
from time to time under the preceding sentence. Such installations shall constitute Alterations. 

  
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 22.4. If Tenant fails to install satisfactory odor control equipment within ten
(10) business days after Landlord’s demand made at any time (provided that if longer than ten (10) business days is required to perform the odor abatement measures, then Tenant will be permitted additional time so long as Tenant
diligently pursues the work), then Landlord may, without limiting Landlord’s other rights and remedies, require Tenant to cease and suspend any operations in the Premises that, in Landlord’s determination, cause odors, fumes or exhaust.
For example, if Landlord determines that Tenant’s production of a certain type of product causes odors, fumes or exhaust, and Tenant does not commence to install satisfactory odor control equipment within ten (10) business days after
Landlord’s request and diligently pursue such work to completion, then Landlord may require Tenant to stop producing such type of product in the Premises unless and until Tenant has installed odor control equipment satisfactory to Landlord.

 23. Insurance; Waiver of Subrogation. 
 23.1. Landlord shall maintain insurance for the Building and the Project in amounts equal to full replacement cost (exclusive of the costs of excavation, foundations and footings, and without reference to
depreciation taken by Landlord upon its books or tax returns), providing protection against any peril generally included within the classification “Fire and Extended Coverage,” together with insurance against sprinkler damage (if
applicable), vandalism and malicious mischief. Landlord, subject to availability thereof, shall further insure, if Landlord deems it appropriate, coverage against flood, environmental hazard, earthquake, loss or failure of building equipment, rental
loss during the period of repairs or rebuilding, workmen’s compensation insurance and fidelity bonds for employees employed to perform services. Notwithstanding the foregoing, Landlord may, but shall not be deemed required to, provide insurance
for any improvements installed by Tenant or that are in addition to the standard improvements customarily furnished by Landlord, without regard to whether or not such are made a part of or are affixed to the Building. 

23.2. In addition, Landlord shall carry public liability insurance with a single limit of not less than One Million Dollars ($1,000,000)
for death or bodily injury, or property damage with respect to the Project. 
 23.3. Tenant shall, at its own cost and expense,
procure and maintain in effect, beginning on the Term Commencement Date or the date of occupancy, whichever occurs first, and continuing throughout the Term (and occupancy by Tenant, if any, after termination of this Lease) comprehensive public
liability insurance with limits of not less than Two Million Dollars ($2,000,000) per occurrence for death or bodily injury and for property damage with respect to the Premises (including $100,000 fire legal liability (each loss)). 

23.4. The insurance required to be purchased and maintained by Tenant pursuant to this Lease shall name Landlord, BioMed Realty, L.P.,
BioMed Realty Trust, Inc., and their respective officers, directors, employees, agents, general partners, members, subsidiaries, affiliates and Lenders (“Landlord Parties”) as additional insureds. Said insurance shall be with
companies having a rating of not less than policyholder rating of A and financial category rating of at least Class XII in “Best’s Insurance Guide.” Tenant shall obtain for Landlord from the insurance companies or cause the insurance
companies to furnish certificates of coverage to Landlord. No 

  
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such policy shall be cancelable or subject to reduction of coverage or other modification or cancellation except after thirty (30) days’ prior written notice to Landlord from the
insurer (except in the event of non-payment of premium, in which case ten (10) days written notice shall be given). All such policies shall be written as primary policies, not contributing with and not in excess of the coverage that Landlord
may carry. Tenant’s policy may be a “blanket policy” that specifically provides that the amount of insurance shall not be prejudiced by other losses covered by the policy. Tenant shall, prior to the expiration of such policies,
furnish Landlord with renewals or binders. Tenant agrees that if Tenant does not take out and maintain such insurance, Landlord may (but shall not be required to) procure said insurance on Tenant’s behalf and at its cost to be paid by Tenant as
Additional Rent. 
 23.5. Tenant assumes the risk of damage to any fixtures, goods, inventory, merchandise, equipment and
leasehold improvements, and Landlord shall not be liable for injury to Tenant’s business or any loss of income therefrom, relative to such damage, all as more particularly set forth within this Lease. Tenant shall, at Tenant’s sole cost
and expense, carry such insurance as Tenant desires for Tenant’s protection with respect to personal property of Tenant or business interruption. 
 23.6. In each instance where insurance is to name Landlord Parties as additional insureds, Tenant shall, upon Landlord’s written request, also designate and furnish certificates evidencing such
Landlord Parties as additional insureds to (a) any Lender of Landlord holding a security interest in the Building, the Property or the Project, (b) the landlord under any lease whereunder Landlord is a tenant of the Property if the
interest of Landlord is or shall become that of a tenant under a ground lease rather than that of a fee owner and (c) any management company retained by Landlord to manage the Project. 

23.7. Landlord and Tenant each hereby waive any and all rights of recovery against the other or against the officers, directors,
employees, agents, general partners, members, subsidiaries, affiliates and Lenders of the other on account of loss or damage occasioned by such waiving party or its property or the property of others under such waiving party’s control, in each
case to the extent that such loss or damage is insured against under any fire and extended coverage insurance policy that either Landlord or Tenant may have in force at the time of such loss or damage, or would be insured against under any fire and
extended coverage insurance policy that either Landlord or Tenant is required to obtain under this Lease. Landlord and Tenant, upon obtaining the policies of insurance required or permitted under this Lease, shall give notice to the insurance
carrier or carriers that the foregoing mutual waiver of subrogation is contained in this Lease. If the release of either Landlord or Tenant, as set forth in the first sentence of this Section, shall contravene Applicable Laws, then the liability of
the party in question shall be deemed not released but shall be secondary to the other party’s insurer. 
 23.8. Landlord
may require insurance policy limits required under this Lease to be raised to conform with requirements of Landlord’s Lender or to bring coverage limits to levels then being required of new tenants within the Project; provided that any such
increase does not occur during the first three (3) years of the Term (unless required by Landlord’s Lender). 

  
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 23.9. Any costs incurred by Landlord pursuant to this Article shall constitute a portion of
Operating Expenses. 
 24. Damage or Destruction. 
 24.1. In the event of a partial destruction of (a) the Premises or (b) Common Areas of the Building or the Project ((a) and (b) together, the “Affected Areas”) by fire or
other perils covered by extended coverage insurance not exceeding twenty-five percent (25%) of the full insurable value thereof, and provided that (x) the damage thereto is such that the Affected Areas may be repaired, reconstructed
or restored within a period of twelve (12) months from the date of the happening of such casualty, (y) Landlord shall receive insurance proceeds sufficient to cover the cost of such repairs (except for any deductible amount provided by
Landlord’s policy, which deductible amount, if paid by Landlord, shall constitute an Operating Expense) and (z) such casualty was not intentionally caused by Tenant or its employees, agents or contractors, then Landlord shall commence and
proceed diligently with the work of repair, reconstruction and restoration of the Affected Areas and this Lease shall continue in full force and effect. 
 24.2. In the event of any damage to or destruction of the Building or the Project other than as described in Section 24.1, Landlord may elect to repair, reconstruct and restore the Building or
the Project, as applicable, in which case this Lease shall continue in full force and effect. If Landlord elects not to repair the Building or the Project, as applicable, then this Lease shall terminate as of the date of such damage or destruction.
Within a commercially reasonable time after the date Landlord learns of the necessity for repairs as a result of a casualty, Landlord shall notify Tenant of Landlord’s estimated assessment of the period of time in which the repairs will be
completed (“Damage Repair Estimate”), which assessment shall be based upon the opinion of a contractor reasonably selected by Landlord and experienced in comparable repairs of similar buildings. If Landlord does not elect to
terminate this Lease pursuant to Landlord’s termination right as provided above, and the Damage Repair Estimate indicates that repairs cannot be completed within twelve (12) months after the date of the Damage Repair Estimate, then Tenant,
notwithstanding anything to the contrary in this Lease, may elect, not later than ten (10) days after Tenant’s receipt of the Damage Repair Estimate, to terminate this Lease by written notice to Landlord effective no later than thirty
(30) days after the date of Landlord’s receipt of Tenant’s notice. 
 24.3. Landlord shall give written notice to
Tenant within sixty (60) days following the date of damage or destruction of its election not to repair, reconstruct or restore the Building or the Project, as applicable. 

24.4. Upon any termination of this Lease under any of the provisions of this Article, the parties shall be released thereby without
further obligation to the other from the date possession of the Premises is surrendered to Landlord, except with regard to (a) items occurring prior to the damage or destruction and (b) provisions of this Lease that, by their express
terms, survive the expiration or earlier termination hereof. 
 24.5. In the event of a casualty governed by this Article, all
Rent to be paid by Tenant under this Lease shall be abated proportionately based on the extent to which Tenant’s use of the 

  
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Premises is impaired from and after the date of such damage, unless Landlord provides Tenant with other space during the period of repair that, in Tenant’s reasonable opinion, is suitable
for the temporary conduct of Tenant’s business. 
 24.6. Notwithstanding anything to the contrary contained in this
Article, should Landlord be, delayed or prevented from completing the repair, reconstruction or restoration of the damage or destruction to the Premises after the occurrence of such damage or destruction by Force Majeure, then the time for Landlord
to commence or complete repairs shall be extended on a day-for-day basis; provided, however, that, at Landlord’s election, Landlord shall be relieved of its obligation to make such repair, reconstruction or restoration, in which event
this Lease shall terminate. 
 24.7. If Landlord is obligated to or elects to repair, reconstruct or restore as herein provided,
then Landlord shall be obligated to make such repair, reconstruction or restoration only with regard to (a) those portions of the Premises that were originally provided at Landlord’s expense and (b) the Common Area portion of the
Affected Areas. The repair, reconstruction or restoration of improvements not originally provided by Landlord or at Landlord’s expense shall be the obligation of Tenant. In the event Tenant has elected to upgrade certain improvements from the
Building Standard, Landlord shall, upon the need for replacement due to an insured loss, provide only the Building Standard, unless Tenant again elects to upgrade such improvements and pay any incremental costs related thereto, except to the extent
that excess insurance proceeds, if received, are adequate to provide such upgrades, in addition to providing for basic repair, reconstruction and restoration of the Premises, the Building and the Project. 

24.8. Notwithstanding anything to the contrary contained in this Article, Landlord shall not have any obligation whatsoever to repair,
reconstruct or restore the Premises if the damage resulting from any casualty covered under this Article occurs during the last twenty-four (24) months of the Term or any extension hereof, or to the extent that insurance proceeds are not
available therefor. Additionally, if the damage resulting from any casualty covered under this Article 24 occurs during the last twelve (12) months of the Term or any extension thereof, such damage materially impairs Tenant’s use of or
access to the Premises, and such damage shall take longer than six (6) months to repair, then, notwithstanding anything in this Article 24 to the, contrary, Tenant shall have the option to terminate this Lease by written notice thereof to
Landlord within ten (10) days after Tenant learns of the necessity for repairs as the result of such damage or destruction. 
 24.9. Landlord’s obligation, should it elect or be obligated to repair or rebuild, shall be limited to the Affected Areas. Tenant may, at its expense, replace or fully repair all of Tenant’s
personal property (provided that it shall, at its expense, replace or fully repair all of the FF&E) and shall, at its expense, replace or fully repair any Alterations installed by Tenant existing at the time of such damage or destruction.
If Affected Areas are to be repaired in accordance with the foregoing, Landlord shall make available to Tenant any portion of insurance proceeds it receives that are allocable to the Alterations constructed by Tenant pursuant to this Lease;
provided Tenant is not then in default under this Lease, and subject to the requirements of any Lender of Landlord. 

  
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 25. Eminent Domain. 
 25.1. In the event (a) the whole of all Affected Areas or (b) such part thereof as shall substantially interfere with Tenant’s use and occupancy of the Premises for the Permitted Use shall
be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of
the date possession is required to be surrendered to said authority, except with regard to (y) items occurring prior to the damage or destruction and (z) provisions of this Lease that, by their express terms, survive the expiration or
earlier termination hereof. 
 25.2. In the event of a partial taking of (a) the Building or the Project or
(b) drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such
taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the damage or destruction and
(b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to
continue use of the unappropriated portion for purposes of renting office or laboratory space. 
 25.3. Tenant shall be entitled
to any award that is specifically awarded as compensation for (a) the taking of Tenant’s personal property that was installed at Tenant’s expense and (b) the costs of Tenant moving to a new location. Except as set forth in the
previous sentence, any award for such taking shall be the property of Landlord. 
 25.4. If, upon any taking of the nature
described in this Article, this Lease continues in effect, then Landlord shall promptly proceed with commercially reasonable due diligence to complete the restoration of the Affected Areas to substantially their same condition prior to such partial
taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.

 26. Surrender. 
 26.1. Prior to Tenant’s surrender of possession of any part of the Premises, Tenant shall provide Landlord with (a) a facility decommissioning and Hazardous Materials closure plan for the
Premises (“Exit Survey”), and (b) written evidence of all appropriate governmental releases obtained by Tenant in accordance with Applicable Laws, including laws pertaining to the surrender of the Premises. In addition, Tenant
agrees to remain responsible after the surrender of the Premises for the remediation of any recognized environmental conditions set forth in the Exit Survey and compliance with any recommendations set forth in the Exit Survey but only to the extent
such conditions or recommendations are Tenant’s responsibility pursuant to Article 21 above. Tenant’s obligations under this Section shall survive the expiration or earlier termination of the Lease. 

  
 35 

 26.2. No surrender of possession of any part of the Premises shall release Tenant from any
of its obligations hereunder, unless such surrender is accepted in writing by Landlord. 
 26.3. The voluntary or other
surrender of this Lease by Tenant shall not effect a merger with Landlord’s fee title or leasehold interest in the Premises, the Building, the Property or the Project, unless Landlord consents in writing, and shall, at Landlord’s option,
operate as an assignment to Landlord of any or all subleases. 
 26.4. The voluntary or other surrender of any ground or other
underlying lease that now exists or may hereafter be executed affecting the Building or the Project, or a mutual cancellation thereof or of Landlord’s interest therein by Landlord and its lessor shall not effect a merger with Landlord’s
fee title or leasehold interest in the Premises, the Building or the Property and shall, at the option of the successor to Landlord’s interest in the Building or the Project, as applicable, operate as an assignment of this Lease. 

27. Holding Over. 

27.1. If, with Landlord’s prior written consent, Tenant holds possession of all or any part of the Premises after the Term, Tenant
shall become a tenant from month to month after the expiration or earlier termination of the Term, and in such case Tenant shall continue to pay (a) Base Rent in accordance with Article 7, as adjusted in accordance with Article 8,
and (b) any amounts for which Tenant would otherwise be liable under this Lease if the Lease were still in effect, including payments for Tenant’s Pro Rata Share of Operating Expenses. Any such month-to-month tenancy shall be subject to every
other term, covenant and agreement contained herein. 
 27.2. Notwithstanding the foregoing, if Tenant remains in possession of
the Premises after the expiration or earlier termination of the Term without Landlord’s prior written consent, (a) Tenant shall become a tenant at sufferance subject to the terms and conditions of this Lease, except that the monthly rent
shall be equal to one hundred fifty percent (150%) of the Rent in effect during the last thirty (30) days of the Term, and (b) in the event Tenant holds over in excess of 30 days, Tenant shall be liable to Landlord for any and all
damages suffered by Landlord as a result of such holdover, including any lost rent or consequential, special and indirect damages. 
 27.3. Acceptance by Landlord of Rent after the expiration or earlier termination of the Term shall not result in an extension, renewal or reinstatement of this Lease. 

27.4. The foregoing provisions of this Article are in addition to and do not affect Landlord’s right of reentry or any other rights
of Landlord hereunder or as otherwise provided by Applicable Laws. 
 28. Indemnification and Exculpation. 

28.1. Tenant agrees to indemnify, save, defend and hold Landlord harmless from and against any and all Claims arising from injury or
death to any person or damage to any property occurring within or about the Premises, the Building, the Property or the Project arising directly 

  
 36 

 
or indirectly out of (a) Tenant’s or Tenant’s employees’, agents’, contractors’ or invitees’ use or occupancy of the Premises, or (b) a breach or default
by Tenant in the performance of any of its obligations hereunder, except to the extent caused by Landlord’s negligence or willful misconduct. In the event Landlord receives notice of a Claim for which Tenant is obligated to indemnify Landlord
pursuant to the preceding sentence, then Landlord shall (x) promptly provide notice to Tenant of such Claim, (y) take all reasonable measures to mitigate any damages thereunder, and (z) not enter into any settlement agreement without
the express written consent of Tenant, which consent shall not be unreasonably withheld, conditioned or delayed. 
 28.2.
Notwithstanding any provision of Section 28.1 to the contrary, Landlord shall not be liable to Tenant for, and Tenant assumes all risk of, damage to personal property or scientific research, including loss of records kept by Tenant
within the Premises and damage or losses caused by fire, electrical malfunction, gas explosion or water damage of any type (including broken water lines, malfunctioning fire sprinkler systems, roof leaks or stoppages of lines), unless any such loss
is due to Landlord’s willful disregard of written notice by Tenant of need for a repair that Landlord is responsible to make for an unreasonable period of time. Tenant further waives any claim for injury to Tenant’s business or loss of
income relating to any such damage or destruction of personal property as described in this Section. 
 28.3. Landlord shall not
be liable for any damages arising from any act, omission or neglect of any other tenant in the Building or the Project, or of any other third party. 
 28.4. Tenant acknowledges that security devices and services, if any, while intended to deter crime, may not in given instances prevent theft or other criminal acts. Landlord shall not be liable for
injuries or losses caused by criminal acts of third parties, and Tenant assumes the risk that any security device or service may malfunction or otherwise be circumvented by a criminal. If Tenant desires protection against such criminal acts, then
Tenant shall, at Tenant’s sole cost and expense, obtain appropriate insurance coverage. 
 28.5. The provisions of this
Article shall survive the expiration or earlier termination of this Lease. 
 29. Assignment or Subletting. 

29.1. Except as hereinafter expressly permitted, Tenant shall not, either voluntarily or by operation of Applicable Laws, directly or
indirectly sell, hypothecate, assign, pledge, encumber or otherwise transfer this Lease, or sublet the Premises (each, a “Transfer”), without Landlord’s prior written consent which shall not be unreasonably withheld.
Notwithstanding the foregoing, Tenant shall have the right to Transfer without Landlord’s prior written consent the Premises or any part thereof to any person that as of the date of determination directly, or indirectly through one or more
intermediaries, controls, is controlled by, or is under common control with Tenant, or that becomes a parent, successor or affiliate of Tenant, or is a successor of Tenant by reason of merger, consolidation, public offering, reorganization,
dissolution or sale of stock, membership or partnership interests or assets (“Tenant’s Affiliate”), provided that Tenant shall notify Landlord in writing at least ten (10) days prior to the effectiveness of such
Transfer to Tenant’s Affiliate; and provided, further that Tenant’s Affiliate shall be of equal or 

  
 37 

 
greater market capitalization or net worth (an “Exempt Transfer”) and otherwise comply with the requirements of this Lease regarding such Transfer. For purposes of Exempt
Transfers, “control” requires both (a) owning (directly or indirectly) more than fifty percent (50%) of the stock or other equity interests of another person and (b) possessing, directly or indirectly, the power to direct or
cause the direction of the management and policies of such person. Notwithstanding the foregoing, the raising of capital by an offering of stock or ownership interest in Tenant shall not be deemed a Transfer for purposes of this Lease and shall not
require Landlord’s consent. In no event shall Tenant perform a Transfer to or with an entity that is a tenant at the Project or that is in discussions or negotiations with Landlord or an affiliate of Landlord to lease premises at the Project or
a property owned by Landlord or an affiliate of Landlord. 
 29.2. In the event Tenant desires to effect a Transfer, then, at
least thirty (30) but not more than ninety (90) days prior to the date when Tenant desires the assignment or sublease to be effective (the “Transfer Date”), Tenant shall provide written notice to Landlord (the
“Transfer Notice”) containing information (including references) concerning the character of the proposed transferee, assignee or sublessee; the Transfer Date; any ownership or commercial relationship between Tenant and the proposed
transferee, assignee or sublessee; and the consideration and all other material terms and conditions of the proposed Transfer, all in such detail as Landlord shall reasonably require. 

29.3. Landlord, in determining whether consent should be given to a proposed Transfer, may give consideration to (a) the financial
strength of such transferee, assignee or sublessee (notwithstanding Tenant remaining liable for Tenant’s performance), (b) any change in use that such transferee, assignee or sublessee proposes to make in the use of the Premises and
(c) Landlord’s desire to exercise its rights under Section 29.8 to cancel this Lease. In no event shall Landlord be deemed to be unreasonable for declining to consent to a Transfer to a transferee, assignee or sublessee of poor
reputation, lacking financial qualifications or seeking a change in the Permitted Use to a use that is inconsistent with Landlord’s use or marketing of the Building, or jeopardizing directly or indirectly the status of Landlord or any of
Landlord’s affiliates as a Real Estate Investment Trust under the Internal Revenue Code of 1986 (as the same may be amended from time to time, the “Revenue Code”). Notwithstanding anything contained in this Lease to the
contrary, (w) no Transfer shall be consummated on any basis such that the rental or other amounts to be paid by the occupant, assignee, manager or other transferee thereunder would be based, in whole or in part, on the income or profits derived
by the business activities of such occupant, assignee; manager or other transferee; (x) Tenant shall not furnish or render any services to an occupant, assignee, manager or other transferee with respect to whom transfer consideration is
required to be paid, or manage or operate the Premises or any capital additions so transferred, with respect to which transfer consideration is being paid; (y) Tenant shall not consummate a Transfer with any person in which Landlord owns an
interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the Revenue Code); and (z) Tenant shall not consummate a Transfer with any person or in any manner that could cause any portion of
the amounts received by Landlord pursuant to this Lease or any sublease, license or other arrangement for the right to use, occupy or possess any portion of the Premises to fail to qualify as “rents from real property” within the meaning
of Section 856(d) of the Revenue 

  
 38 

 
Code, or any similar or successor provision thereto or which could cause any other income of Landlord to fail to qualify as income described in Section 856(c)(2) of the Revenue Code.

 29.4. As conditions precedent to Tenant subleasing the Premises or to Landlord considering a request by Tenant to
Tenant’s transfer of rights or sharing of the Premises, Landlord may require any or all of the following: 
 (a) Tenant
shall remain fully liable under this Lease during the unexpired Term; 
 (b) Tenant shall provide Landlord with evidence
reasonably satisfactory to Landlord that the value of Landlord’s interest under this Lease shall not be diminished or reduced by the proposed Transfer. Such evidence shall include evidence respecting the relevant business experience and
financial responsibility and status of the proposed transferee, assignee or sublessee; 
 (c) Tenant shall reimburse Landlord
for Landlord’s actual costs and expenses, including reasonable attorneys’ fees, charges and disbursements incurred in connection with the review, processing and documentation of such request (provided that such costs and expenses do not
exceed Three Thousand Dollars ($3,000) in any one instance); 
 (d) If Tenant’s transfer of rights or sharing of the
Premises provides for the receipt by, on behalf of or on account of Tenant of any consideration of any kind whatsoever (including a premium rental for a sublease or lump sum payment for an assignment, but excluding Tenant’s reasonable costs in
marketing and subleasing the Premises and provided that nothing in this Section 29.4(d) shall be construed to entitle Landlord to any consideration attributable to any intellectual property or goodwill of Tenant) in excess of the rental and
other charges due to Landlord under this Lease, Tenant shall pay fifty percent (50%) of all of such excess to Landlord, after making deductions for any reasonable marketing expenses, tenant improvement funds expended by Tenant, alterations,
cash concessions, brokerage commissions, attorneys’ fees and free rent actually paid by Tenant. If said consideration consists of cash paid to Tenant, payment to Landlord shall be made upon receipt by Tenant of such cash payment; 

(e) The proposed transferee, assignee or sublessee shall agree that, in the event Landlord gives such proposed transferee, assignee or
sublessee notice that Tenant is in default under this Lease, such proposed transferee, assignee or sublessee shall thereafter make all payments otherwise due Tenant directly to Landlord, which payments shall be received by Landlord without any
liability being incurred by Landlord, except to credit such payment against those due by Tenant under this Lease, and any such proposed transferee, assignee or sublessee shall agree to attorn to Landlord or its successors and assigns should this
Lease be terminated for any reason; provided, however, that in no event shall Landlord or its Lenders, successors or assigns be obligated to accept such attornment; 
 (f) Landlord’s consent to any such Transfer shall be effected on Landlord’s reasonable forms; 

  
 39 

 (g) Tenant shall not then be in default hereunder in any respect; 

(h) Such proposed transferee, assignee or sublessee’s use of the Premises shall be the same as the Permitted Use or shall not be
inconsistent with Landlord’s use or marketing of the Building; 
 (i) Landlord shall not be bound by any provision of any
agreement pertaining to the Transfer, except for Landlord’s written consent to the same; 
 (j) Tenant shall pay all
transfer and other taxes (including interest and penalties) assessed or payable for any Transfer; 
 (k) Landlord’s consent
(or waiver of its rights) for any Transfer shall not waive Landlord’s right to consent to any later Transfer; 
 (l) Tenant
shall deliver to Landlord one executed copy of any and all written instruments evidencing or relating to the Transfer; and 

(m) A list of Hazardous Materials (as defined in Section 21.7), certified by the proposed transferee, assignee or sublessee
to be true and correct, that the proposed transferee, assignee or sublessee intends to use or store in the Premises. Additionally, Tenant shall deliver to Landlord, on or before the date any proposed transferee, assignee or sublessee takes occupancy
of the Premises, all of the items relating to Hazardous Materials of such proposed transferee, assignee or sublessee as described in Section 21.2. 
 29.5. Any Transfer that is not in compliance with the provisions of this Article shall be void and shall, at the option of Landlord, terminate this Lease. 

29.6. The consent by Landlord to a Transfer shall not relieve Tenant or proposed transferee, assignee or sublessee from obtaining
Landlord’s consent to any further Transfer, nor shall it release Tenant or any proposed transferee, assignee or sublessee of Tenant from full and primary liability under this Lease. 

29.7. Notwithstanding any Transfer, Tenant shall remain fully and primarily liable for the payment of all Rent and other sums due or to
become due hereunder, and for the full performance of all other terms, conditions and covenants to be kept and performed by Tenant. The acceptance of Rent or any other sum due hereunder, or the acceptance of performance of any other term, covenant
or condition thereof, from any person or entity other than Tenant shall not be deemed a waiver of any of the provisions of this Lease or a consent to any Transfer. 
 29.8. If Tenant delivers to Landlord a Transfer Notice indicating a desire to transfer this Lease to a proposed transferee, assignee or sublessee other than as provided within Section 29.4 or
as permitted under this Lease as an Exempt Transfer, then Landlord shall have the option, exercisable by giving notice to Tenant at any time within ten (10) days after Landlord’s receipt of such Transfer Notice, to terminate this Lease as
of the date specified in the Transfer Notice as the Transfer Date, except for those provisions that, by their express terms, survive the expiration or 

  
 40 

 
earlier termination hereof. If Landlord exercises such option, then Tenant shall have the right to withdraw such Transfer Notice by delivering to Landlord written notice of such election within
five (5) days after Landlord’s delivery of notice electing to exercise Landlord’s option to terminate this Lease. In the event Tenant withdraws the Transfer Notice as provided in this Section, this Lease shall continue in full force
and effect. No failure of Landlord to exercise its option to terminate this Lease shall be deemed to be Landlord’s consent to a proposed Transfer. 
 29.9. If Tenant sublets the Premises or any portion thereof, Tenant hereby immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any
such subletting, and appoints Landlord as assignee and attorney-in-fact for Tenant, and Landlord (or a receiver for Tenant appointed on Landlord’s application) may collect such rent and apply it toward Tenant’s obligations under this
Lease; provided that, until the occurrence of a Default (as defined below) by Tenant, Tenant shall have the right to collect such rent. 

30. Subordination and Attornment. 
 30.1. As of the Execution Date there is no loan encumbering the Building; however, this Lease shall be subject and subordinate to the lien of any mortgage, deed of trust, or lease in which Landlord is
tenant now or hereafter in force against the Building or the Project and to all advances made or hereafter to be made upon the security thereof without the necessity of the execution and delivery of any further instruments on the part of Tenant to
effectuate such subordination. 
 30.2. Notwithstanding the foregoing, Tenant shall execute and deliver upon demand such further
instrument or instruments evidencing such subordination of this Lease to the lien of any such mortgage or mortgages or deeds of trust or lease in which Landlord is tenant as may be required by Landlord. If any such mortgagee, beneficiary or landlord
under a lease wherein Landlord is tenant (each, a “Mortgagee”) so elects, however, this Lease shall be deemed prior in lien to any such lease, mortgage, or deed of trust upon or including the Premises regardless of date and Tenant
shall execute a statement in writing to such effect at Landlord’s request, and in connection with such agreement, Landlord will use commercially reasonable efforts to obtain a non-disturbance agreement in favor of Tenant. If Tenant fails to
execute any commercially reasonable document required from Tenant under this Section within ten (10) days after written request therefor, Tenant hereby constitutes and appoints Landlord or its special attorney-in-fact to execute and deliver any
such document or documents in the name of Tenant. Such power is coupled with an interest and is irrevocable. 
 30.3. Upon
written request of Landlord and opportunity for Tenant to review and approve (which Tenant shall not unreasonably withhold, condition or delay), Tenant agrees to execute any Lease amendments not materially altering the terms of this Lease, if
required by a mortgagee or beneficiary of a deed of trust encumbering real property of which the Premises constitute a part incident to the financing of the real property of which the Premises constitute a part. 

30.4. In the event any proceedings are brought for foreclosure, or in the event of the exercise of the power of sale under any mortgage
or deed of trust made by Landlord covering the 

  
 41 

 
Premises, Tenant shall at the election of the purchaser at such foreclosure or sale attorn to the purchaser upon any such foreclosure or sale and recognize such purchaser as Landlord under this
Lease. 
 31. Defaults and Remedies. 
 31.1. Late payment by Tenant to Landlord of Rent and other sums due shall cause Landlord to incur costs not contemplated by this Lease, the exact amount of which shall be extremely difficult and
impracticable to ascertain. Such costs include processing and accounting charges and late charges that may be imposed on Landlord by the terms of any mortgage or trust deed covering the Premises. Therefore, if any installment of Rent due from Tenant
is not received by Landlord within three (3) days after receiving written notice that such payment is due, Tenant shall pay to Landlord (a) an additional sum of six percent (6%) of the overdue Rent as a late charge plus
(b) interest at an annual rate (the “Default Rate”) equal to the lesser of (a) twelve percent (12%) and (b) the highest rate permitted by Applicable Laws. The parties agree that this late charge represents a fair
and reasonable estimate of the costs that Landlord shall incur by reason of late payment by Tenant and shall be payable as Additional Rent to Landlord due with the next installment of Rent or within five (5) business days after Landlord’s
demand, whichever is earlier. Landlord’s acceptance of any Additional Rent (including a late charge or any other amount hereunder) shall not be deemed an extension of the date that Rent is due or prevent Landlord from pursuing any other rights
or remedies under this Lease, at law or in equity. 
 31.2. No payment by Tenant or receipt by Landlord of a lesser amount than
the Rent payment herein stipulated shall be deemed to be other than on account of the Rent, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord and satisfaction, and
Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Rent or pursue any other remedy provided in this Lease or in equity or at law. If a dispute shall arise as to any amount or sum of
money to be paid by Tenant to Landlord hereunder, Tenant shall have the right to make payment “under protest,” such payment shall not be regarded as a voluntary payment, and there shall survive the right on the part of Tenant to institute
suit for recovery of the payment paid under protest. 
 31.3. If Tenant fails to pay any sum of money required to be paid by it
hereunder, or shall fail to perform any other act on its part to be performed hereunder, Landlord may, without waiving or releasing Tenant from any obligations of Tenant, but shall not be obligated to, make such payment or perform such act;
provided that such failure by Tenant continues for three (3) days after Landlord delivers notice to Tenant demanding performance by Tenant; or provided that such failure by Tenant unreasonably interfered with the use of the
Building or the Project by any other tenant or with the efficient operation of the Building or the Project, or resulted or could have resulted in a violation of Applicable Laws or the cancellation of an insurance policy maintained by Landlord.
Notwithstanding the foregoing, in the event of an emergency, Landlord shall have the right to enter the Premises and act in accordance with its rights as provided elsewhere in this Lease. In addition to the late charge described in
Section 31.1, Tenant shall pay 

  
 42 

 
to Landlord as Additional Rent all sums so paid or incurred by Landlord, together with interest at the Default Rate, computed from the date such sums were paid or incurred. 

31.4. The occurrence of any one or more of the following events shall constitute a “Default” hereunder by Tenant:

 (a) Tenant abandons or vacates the Premises and Tenant fails to pay Rent when due or to repair or maintain the Premises as
required by this Lease; 
 (b) The failure by Tenant to make any payment of Rent, as and when due, or to satisfy its obligations
under Article 19, where such failure shall continue for a period of three (3) business days after Tenant’s receipt of written notice thereof from Landlord to Tenant; 

(c) The failure by Tenant to observe or perform any obligation or covenant contained herein (other than described in Subsections
31.4(a) and 31.4(b)) to be performed by Tenant, where such failure shall continue for a period of ten (10) days after written notice thereof from Landlord to Tenant; provided that, if the nature of Tenant’s default is
such that it reasonably requires more than ten (10) days to cure, Tenant shall not be deemed to be in Default if Tenant shall commence such cure within said ten (10) day period and thereafter diligently prosecute the same to completion;
and provided, further, that such cure is completed no later than thirty (30) days from the date of Tenant’s receipt of written notice from Landlord; 
 (d) Tenant makes an assignment for the benefit of creditors; 
 (e) A receiver,
trustee or custodian is appointed to or does take title, possession or control of all or substantially all of Tenant’s assets and such action is not dismissed within thirty (30) days; 

(f) Tenant files a voluntary petition under the United States Bankruptcy Code or any successor statute (as the same may be amended from
time to time, the “Bankruptcy Code”) or an order for relief is entered against Tenant pursuant to a voluntary or involuntary proceeding commenced under any chapter of the Bankruptcy Code, and such petition is not dismissed within
thirty (30) days after filing; 
 (g) Any involuntary petition is filed against Tenant under any chapter of the Bankruptcy
Code and is not dismissed within one hundred twenty (120) days; 
 (h) Tenant fails to deliver an estoppel certificate in
accordance with Article 20; or 
 (i) Tenant’s interest in this Lease is attached, executed upon or otherwise
judicially seized and such action is not released within one hundred twenty (120) days of the action. 
 Notices given
under this Section shall specify the alleged default and shall demand that Tenant perform the provisions of this Lease or pay the Rent that is in arrears, as the 

  
 43 

 
case may be, within the applicable period of time, or quit the Premises. No such notice shall be deemed a forfeiture or a termination of this Lease unless Landlord elects otherwise in such
notice. 
 31.5. In the event of a Default by Tenant, and at any time thereafter, with or without notice or demand and without
limiting Landlord in the exercise of any right or remedy that Landlord may have, Landlord shall be entitled to terminate Tenant’s right to possession of the Premises by written notice to Tenant or by any lawful means, in which case this Lease
shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall have the immediate right to re-enter and remove all persons and property, and such property may be removed and stored in a
public warehouse or elsewhere at the cost and for the account of Tenant, all without service of notice or resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damage that may be occasioned thereby.
In the event that Landlord shall elect to so terminate this Lease, then Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default, including: 

(a) The worth at the time of award of any unpaid Rent that had accrued at the time of such termination; plus 

(b) The worth at the time of award of the amount by which the unpaid Rent that would have accrued during the period commencing with
termination of the Lease and ending at the time of award exceeds that portion of the loss of Landlord’s rental income from the Premises that Tenant proves to Landlord’s reasonable satisfaction could have been reasonably avoided; plus

 (c) The worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award
exceeds that portion of the loss of Landlord’s rental income from the Premises that Tenant proves to Landlord’s reasonable satisfaction could have been reasonably avoided; plus 

(d) Any other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligations
under this Lease or that in the ordinary course of things would be likely to result therefrom, including the cost of restoring the Premises to the condition required under the terms of this Lease; plus 

(e) At Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by
Applicable Laws. 
 As used in Subsections 31.5(a) and 31.5(b), “worth at the time of award” shall be computed by
allowing interest at the Default Rate. As used in Subsection 31.5(c), the “worth at the time of the award” shall be computed by taking the present value of such amount, using the discount rate of the Federal Reserve Bank of San
Francisco at the time of the award plus one (1) percentage point. 

  
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 31.6. In addition to any other remedies available to Landlord at law or in equity and under
this Lease, Landlord shall have the remedy described in California Civil Code Section 1951.4 and may continue this Lease in effect after Tenant’s Default and abandonment and recover Rent as it becomes due, provided Tenant has the
right to sublet or assign, subject only to reasonable limitations. In addition, Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises. For purposes of this Section, the following acts by Landlord will
not constitute the termination of Tenant’s right to possession of the Premises: 
 (a) Acts of maintenance or preservation
or efforts to relet the Premises, including alterations, remodeling, redecorating, repairs, replacements or painting as Landlord shall consider advisable for the purpose of reletting the Premises or any part thereof; or 

(b) The appointment of a receiver upon the initiative of Landlord to protect Landlord’s interest under this Lease or in the
Premises. 
 Notwithstanding the foregoing, in the event of a Default by Tenant, Landlord may elect at any time to terminate this Lease and to
recover damages to which Landlord is entitled. 
 31.7. If Landlord does not elect to terminate this Lease as provided in
Section 31.5, then Landlord may, from time to time, recover all Rent as it becomes due under this Lease. At any time thereafter, Landlord may elect to terminate this Lease and to recover damages to which Landlord is entitled. 

31.8. In the event Landlord elects to terminate this Lease and relet the Premises, Landlord may execute any new lease in its own name.
Tenant hereunder shall have no right or authority whatsoever to collect any Rent from such tenant. The proceeds of any such reletting shall be applied as follows: 
 (a) First, to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord, including storage charges or brokerage commissions owing from Tenant to Landlord as the result of such
reletting; 
 (b) Second, to the payment of the costs and expenses of reletting the Premises, including (i) alterations and
repairs that Landlord deems reasonably necessary and advisable and (ii) reasonable attorneys’ fees, charges and disbursements incurred by Landlord in connection with the retaking of the Premises and such reletting; 

(c) Third, to the payment of Rent and other charges due and unpaid hereunder; and 

(d) Fourth, to the payment of future Rent and other damages payable by Tenant under this Lease. 

31.9. All of Landlord’s rights, options and remedies hereunder shall be construed and held to be nonexclusive and cumulative.
Landlord shall have the right to pursue any one or all of such remedies, or any other remedy or relief that may be provided by Applicable Laws, whether 

  
 45 

 
or not stated in this Lease. No waiver of any default of Tenant hereunder shall be implied from any acceptance by Landlord of any Rent or other payments due hereunder or any omission by Landlord
to take any action on account of such default if such default persists or is repeated, and no express waiver shall affect defaults other than as specified in said waiver. 
 31.10. Landlord’s termination of (a) this Lease or (b) Tenant’s right to possession of the Premises shall not relieve Tenant of any liability to Landlord that has previously accrued or
that shall arise based upon events that occurred prior to the later to occur of (i) the date of Lease termination or (ii) the date Tenant surrenders possession of the Premises. 

31.11. To the extent permitted by Applicable Laws, Tenant waives any and all rights of redemption granted by or under any present or
future Applicable Laws if Tenant is evicted or dispossessed for any cause, or if Landlord obtains possession of the Premises due to Tenant’s default hereunder or otherwise. 

31.12. Landlord shall not be in default under this Lease unless Landlord fails to perform obligations required of Landlord within a
reasonable time, but in no event shall such failure continue for more than thirty (30) days after written notice from Tenant specifying the nature of Landlord’s failure; provided, however, that if the nature of Landlord’s
obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently prosecutes the same
to completion. Except as specifically provided in this Lease, in no event shall Tenant have the right to terminate or cancel this Lease or to withhold or abate rent or to set off any Claims against Rent as a result of any default or breach by
Landlord of any of its covenants, obligations, representations, warranties or promises hereunder, except as may otherwise be expressly set forth in this Lease. Nothing in this Section 31.12 shall be construed to limit Tenant’s remedies in
the event Tenant brings a lawsuit for any default by Landlord, in which case Tenant may pursue any remedies available at law or in equity (provided that Tenant’s recourse will be limited by Article 35 below). 

31.13. In the event of any default by Landlord, Tenant shall give notice by registered or certified mail to any (a) beneficiary of a
deed of trust or (b) mortgagee under a mortgage covering the Premises, the Building or the Project and to any landlord of any lease of land upon or within which the Premises, the Building or the Project is located, and shall offer such
beneficiary, mortgagee or landlord a reasonable opportunity to cure the default, including time to obtain possession of the Building or the Project by power of sale or a judicial action if such should prove necessary to effect a cure;
provided that Landlord shall furnish to Tenant in writing, upon written request by Tenant, the names and addresses of all such persons who are to receive such notices. 
 32. Bankruptcy. In the event a debtor, trustee or debtor in possession under the Bankruptcy Code, or another person with similar rights, duties and powers under any other Applicable Laws, proposes
to cure any default under this Lease or to assume or assign this Lease and is obliged to provide adequate assurance to Landlord that (a) a default shall be cured, (b) Landlord shall be compensated for its damages arising from any breach of
this Lease and (c) future performance of 

  
 46 

 
Tenant’s obligations under this Lease shall occur, then such adequate assurances shall include any or all of the following, as designated by Landlord in its sole and absolute discretion:

 32.1. Those acts specified in the Bankruptcy Code or other Applicable Laws as included within the meaning of “adequate
assurance,” even if this Lease does not concern a shopping center or other facility described in such Applicable Laws; 

32.2. A prompt cash payment to compensate Landlord for any monetary defaults or actual damages arising directly from a breach of this
Lease; 
 32.3. A cash deposit in an amount at least equal to the then-current amount of the Security Deposit; or 

32.4. The assumption or assignment of all of Tenant’s interest and obligations under this Lease. 

33. Brokers. 
 33.1.
Tenant represents and warrants that it has had no dealings with any real estate broker or agent in connection with the negotiation of this Lease other than Shaun Burnett of Irving Hughes (“Broker”), and that it knows of no other
real estate broker or agent that is or might be entitled to a commission in connection with this Lease. Landlord shall compensate Broker in relation to this Lease pursuant to a separate agreement between Landlord and Broker. 

33.2. Tenant represents and warrants that no broker or agent has made any representation or warranty relied upon by Tenant in
Tenant’s decision to enter into this Lease, other than as contained in this Lease. 
 33.3. Tenant acknowledges and agrees
that the employment of brokers by Landlord is for the purpose of solicitation of offers of leases from prospective tenants and that no authority is granted to any broker to furnish any representation (written or oral) or warranty from Landlord
unless expressly contained within this Lease. Landlord is executing this Lease in reliance upon Tenant’s representations, warranties and agreements contained within Sections 33.1 and 33.2. 

33.4. Tenant agrees to indemnify, save, defend and hold Landlord harmless from any and all cost or liability for compensation claimed by
any other broker or agent, other than Broker, employed or engaged by it or claiming to have been employed or engaged by it. 
 34. Definition
of Landlord. With regard to obligations imposed upon Landlord pursuant to this Lease, the term “Landlord,” as used in this Lease, shall refer only to Landlord or Landlord’s then-current successor-in-interest. In the event
of any transfer, assignment or conveyance of Landlord’s interest in this Lease or in Landlord’s fee title to or leasehold interest in the Property, as applicable, Landlord herein named (and in case of any subsequent transfers or
conveyances, the subsequent Landlord) shall be automatically freed and relieved, from and after the date of such transfer, assignment or conveyance, from all liability for the performance of any covenants or obligations contained in this Lease
thereafter to be performed by Landlord and, provided the 

  
 47 

 
transferee, assignee or conveyee of Landlord’s in this Lease or in Landlord’s fee title to or leasehold interest in the Property, as applicable, has assumed and agreed to observe and
perform any and all covenants and obligations of Landlord hereunder during the tenure of its interest in the Lease or the Property. Landlord or any subsequent Landlord may transfer its interest in the Premises or this Lease without Tenant’s
consent. 
 35. Limitation of Landlord’s Liability. 
 35.1. If Landlord is in default under this Lease and, as a consequence, Tenant recovers a monetary judgment against Landlord, the judgment shall be satisfied only out of (a) the proceeds of sale
received on execution of the judgment and levy against the right, title and interest of Landlord in the Building and the Project, (b) rent or other income or insurance or condemnation proceeds from such real property receivable by Landlord or
(c) the consideration received by Landlord from the sale, financing, refinancing or other disposition of all or any part of Landlord’s right, title or interest in the Building or the Project. 

35.2. Landlord shall not be personally liable for any deficiency under this Lease, except to the extent stated in
Section 35.1. If Landlord is a partnership or joint venture, then the partners of such partnership shall not be personally liable for Landlord’s obligations under this Lease, and no partner of Landlord shall be sued or named as a
party in any suit or action, and service of process shall not be made against any partner of Landlord except as may be necessary to secure jurisdiction of the partnership or joint venture. If Landlord is a corporation, then the shareholders,
directors, officers, employees and agents of such corporation shall not be personally liable for Landlord’s obligations under this Lease, and no shareholder, director, officer, employee or agent of Landlord shall be sued or named as a party in
any suit or action, and service of process shall not be made against any shareholder, director, officer, employee or agent of Landlord. If Landlord is a limited liability company, then the members of such limited liability company shall not be
personally liable for Landlord’s obligations under this Lease, and no member of Landlord shall be sued or named as a party in any suit or action, and service of process shall not be made against any member of Landlord except as may be necessary
to secure jurisdiction of the limited liability company. No partner, shareholder, director, employee, member or agent of Landlord shall be required to answer or otherwise plead to any service of process, and no judgment shall be taken or writ of
execution levied against any partner, shareholder, director, employee, member or agent of Landlord. 
 35.3. Each of the
covenants and agreements of this Article shall be applicable to any covenant or agreement either expressly contained in this Lease or imposed by Applicable Laws and shall survive the expiration or earlier termination of this Lease. 

36. Joint and Several Obligations. If more than one person or entity executes this Lease as Tenant, then: 

36.1. Each of them is jointly and severally liable for the keeping, observing and performing of all of the terms, covenants, conditions,
provisions and agreements of this Lease to be kept, observed or performed by Tenant; and 

  
 48 

 36.2. The term “Tenant,” as used in this Lease shall mean and include each
of them, jointly and severally. The act of, notice from, notice to, refund to, or signature of any one or more of them with respect to the tenancy under this Lease, including any renewal, extension, expiration, termination or modification of this
Lease, shall be binding upon each and all of the persons executing this Lease as Tenant with the same force and effect as if each and all of them had so acted, so given or received such notice or refund, or so signed. 

37. Authority. Tenant guarantees, warrants and represents that (a) Tenant is duly incorporated or otherwise established or formed and validly
existing under the laws of its state of incorporation, establishment or formation, (b) Tenant has and is duly qualified to do business in the state in which the Property is located, (c) Tenant has full corporate, partnership, trust,
association or other appropriate power and authority to enter into this Lease and to perform all Tenant’s obligations hereunder and (d) each person (and all of the persons if more than one signs) signing this Lease on behalf of Tenant is
duly and validly authorized to do so. 
 38. Confidentiality. Tenant shall keep the terms and conditions of this Lease and any
information provided to Tenant or its employees, agents or contractors pursuant to Article 9 confidential and shall not (a) disclose to any third party any terms or conditions of this Lease or any other Lease-related document (including
subleases, assignments, work letters, construction contracts, letters of credit, subordination agreements, non-disturbance agreements, brokerage agreements or estoppels) or (b) provide to any third party an original or copy of this Lease (or
any Lease-related document). Landlord shall not release to any third party any non-public financial information or non-public information about Tenant’s ownership structure that Tenant gives Landlord. Notwithstanding the foregoing, confidential
information under this Section may be released by Landlord or Tenant under the following circumstances: (x) if required by Applicable Laws (including without limitation to comply with SEC regulations) or in any judicial proceeding;
provided that the releasing party has given the other party reasonable notice of such requirement, if feasible, (y) to a party’s attorneys, accountants, brokers and other bona fide consultants or advisers (with respect to this Lease
only); provided such third parties agree to be bound by this Section or (z) to potential investors or bidders, or to bona fide prospective assignees or subtenants of this Lease; provided they agree to be bound by this Section.

 39. Notices. Any notice, consent, demand, bill, statement or other communication required or permitted to be given hereunder shall be
in writing and shall be given by personal delivery, overnight delivery with a reputable nationwide overnight delivery service, or certified mail (return receipt requested), and if given by personal delivery, shall be deemed delivered upon receipt;
if given by overnight delivery, shall be deemed delivered one (1) day after deposit with a reputable nationwide overnight delivery service; and, if given by certified mail (return receipt requested), shall be deemed delivered three
(3) business days after the time the notifying party deposits the notice with the United States Postal Service. Any notices given pursuant to this Lease shall be addressed to Tenant at the Premises, or to Landlord or Tenant at the addresses
shown in Sections 2.9 and 2.10, respectively. Either party may, by notice to the other given pursuant to this Section, specify additional or different addresses for notice purposes. 

  
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	40.	Rooftop Installation Area. 

 40.1. Tenant may use those portions of the Building identified as a “Rooftop Installation Area” on Exhibit A attached hereto (the “Rooftop Installation Area”) solely to
operate, maintain, repair and replace rooftop antennae, mechanical equipment, communications antennas and other equipment installed by Tenant in the Rooftop Installation Area in accordance with this Article (“Tenant’s Rooftop
Equipment”). Tenant’s Rooftop Equipment shall be only for Tenant’s use of the Premises for the Permitted Use. Tenant shall have the right to install the following as part of Tenant’s Rooftop Equipment (provided that any such
installations shall be made in compliance with this Lease and all Applicable Laws and subject to Landlord’s approval, in Landlord’s reasonable discretion): (a) exhaust fans and (b) security cameras. 

40.2. Tenant shall install Tenant’s Rooftop Equipment at its sole cost and expense, at such times and in such manner as Landlord may
reasonably designate, and in accordance with this Article and the applicable provisions of this Lease regarding Alterations. Tenant’s Rooftop Equipment and the installation thereof shall be subject to Landlord’s prior written approval,
which approval shall not be unreasonably withheld. Landlord may withhold approval if the installation or operation of Tenant’s Rooftop Equipment could reasonably be expected to damage the structural integrity of the Building or to transmit
vibrations or noise or cause other adverse effects beyond the Premises to an extent not customary in first class laboratory Buildings, unless Tenant implements measures that are acceptable to Landlord in its reasonable discretion to avoid any such
damage or transmission. 
 40.3. Tenant shall comply with any roof or roof-related warranties. Tenant shall obtain a letter from
Landlord’s roofing contractor within thirty (30) days after completion of any Tenant work on the rooftop stating that such work did not affect any such warranties. Tenant, at its sole cost and expense, shall inspect the Rooftop
Installation Area at least annually, and correct any loose bolts, fittings or other appurtenances and repair any damage to the roof caused by the installation or operation of Tenant’s Rooftop Equipment. Tenant shall not permit the installation,
maintenance or operation of Tenant’s Rooftop Equipment to violate any Applicable Laws or constitute a nuisance. Tenant shall pay Landlord within thirty (30) days after demand (a) all applicable taxes, charges, fees or impositions
imposed on Landlord by Governmental Authorities as the result of Tenant’s use of the Rooftop Installation Areas in excess of those for which Landlord would otherwise be responsible for the use or installation of Tenant’s Rooftop Equipment
and (b) the amount of any increase in Landlord’s insurance premiums as a result of the installation of Tenant’s Rooftop Equipment. Upon Tenant’s written request to Landlord, Landlord shall use commercially reasonable efforts to
cause other tenants to remedy any interference in the operation of Tenant’s Rooftop Equipment caused by any such tenants’ equipment installed after the applicable piece of Tenant’s, Rooftop Equipment; provided, however,
that Landlord shall not be required to request that such tenants waive their rights under their respective leases. 
 40.4. If
Tenant’s Equipment (a) causes physical damage to the structural integrity of the Building, (b) interferes with any telecommunications, mechanical or other systems located at or near or servicing the Building or the Project that were
installed prior to the installation of 

  
 50 

 
Tenant’s Rooftop Equipment, (c) interferes with any other service provided to other tenants in the Building or the Project by rooftop or penthouse installations that were installed
prior to the installation of Tenant’s Rooftop Equipment or (d) interferes with any other tenants’ business, in each case in excess of that permissible under Federal Communications Commission regulations, then Tenant shall cooperate
with Landlord to determine the source of the damage or interference and promptly repair such damage and eliminate such interference, in each case at Tenant’s sole cost and expense, within ten (10) days after receipt of notice of such damage or
interference (which notice may be oral; provided that Landlord also delivers to Tenant written notice of such damage or interference within twenty-four (24) hours after providing oral notice). 

40.5. Landlord reserves the right to cause Tenant to relocate Tenant’s Rooftop Equipment to comparably functional space on the roof
or in the penthouse of the Building by giving Tenant prior written notice thereof. Landlord agrees to pay the reasonable costs thereof. Tenant shall arrange for the relocation of Tenant’s Rooftop Equipment within sixty (60) days after
receipt of Landlord’s notification of such relocation. In the event Tenant fails to arrange for relocation within such sixty (60)-day period, Landlord shall have the right to arrange for the relocation of Tenant’s Rooftop Equipment in a
manner that does not unnecessarily interrupt or interfere with Tenant’s use of the Premises for the Permitted Use. 
  

	41.	Miscellaneous. 

 41.1.
Landlord reserves the right to change the name of the Building or the Project in its sole discretion. 
 41.2. To induce
Landlord to enter into this Lease, Tenant agrees that it shall promptly furnish to Landlord, from time to time, upon Landlord’s written request, the most recent audited year-end financial statements reflecting Tenant’s current financial
condition. Tenant shall, within ninety (90) days after the end of Tenant’s financial year, furnish Landlord with a certified copy of Tenant’s audited year-end financial statements for the previous year. Tenant represents and warrants
that all financial statements, records and information furnished by Tenant to Landlord in connection with this Lease are true, correct and complete in all respects. If audited financials are not otherwise prepared, unaudited financials certified by
the chief financial officer of Tenant as true, correct and complete in all respects shall suffice for purposes of this Section. This Section 41.2 shall not apply if Tenant is a publicly traded entity, and nothing in this Section 41.2 shall
require Tenant to create audited financial statements if Tenant does not otherwise do so in the ordinary course of its business. 
 41.3. Where applicable in this Lease, the singular includes the plural and the masculine or neuter includes the masculine, feminine and neuter. The words “include,” “includes,”
“included” and “including” shall mean “‘include,’ etc., without limitation.” The section headings of this Lease are not a part of this Lease and shall have no effect upon the construction or interpretation of
any part hereof. 
 41.4. If either party commences an action against the other party arising out of or in connection with this
Lease, then the substantially prevailing party shall be entitled to have and 

  
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recover from the other party reasonable attorneys’ fees, charges and disbursements and costs of suit. 
 41.5. Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease or otherwise until execution by
and delivery to both Landlord and Tenant. 
 41.6. Time is of the essence with respect to the performance of every provision of
this Lease in which time of performance is a factor. 
 41.7. Each provision of this Lease performable by Tenant or Landlord
shall be deemed both a covenant and a condition. 
 41.8. Whenever consent or approval of either party is required, that party
shall not unreasonably withhold such consent or approval, except as may be expressly set forth to the contrary. 
 41.9. The
terms of this Lease are intended by the parties as a final expression of their agreement with respect to the terms as are included herein, and may not be contradicted by evidence of any prior or contemporaneous agreement. 

41.10. Any provision of this Lease that shall prove to be invalid, void or illegal shall in no way affect, impair or invalidate any other
provision hereof, and all other provisions of this Lease shall remain in full force and effect and shall be interpreted as if the invalid, void or illegal provision did not exist. 

41.11. Landlord may, but shall not be obligated to, record a short form or memorandum hereof without Tenant’s consent. Neither party
shall record this Lease. 
 41.12. The language in all parts of this Lease shall be in all cases construed as a whole according
to its fair meaning and not strictly for or against either Landlord or Tenant. 
 41.13. Each of the covenants, conditions and
agreements herein contained shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs; legatees; devisees; executors; administrators; and permitted successors, assigns, sublessees. Nothing in
this Section shall in any way alter the provisions of this Lease restricting assignment or subletting. 
 41.14. This Lease
shall be governed by, construed and enforced in accordance with the laws of the state in which the Premises are located, without regard to such state’s conflict of law principles. 

41.15. Landlord and Tenant guarantee, warrant and represent that the individual or individuals signing this Lease have the power,
authority and legal capacity to sign this Lease on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint 

  
 52 

 
venturers or other organizations and entities on whose behalf said individual or individuals have signed. 
 41.16. This Lease may be executed in one or more counterparts, each of which, when taken together, shall constitute one and the same document. 

41.17. No provision of this Lease may be modified, amended or supplemented except by an agreement in writing signed by Landlord and
Tenant. The waiver by Landlord or Tenant of any breach by the other party of any term, covenant or condition herein contained shall not be deemed to be a waiver of any subsequent breach of the same or any other term, covenant or condition herein
contained. 
 41.18. To the extent permitted by Applicable Laws, the parties waive trial by jury in any action, proceeding or
counterclaim brought by the other party hereto related to matters arising out of or in any way connected with this Lease; the relationship between Landlord and Tenant; Tenant’s use or occupancy of the Premises; or any claim of injury or damage
related to this Lease or the Premises. 
 42. Options to Extend Term. Tenant shall have two (2) consecutive options (each, an
“Option”) to extend the Term by three (3) years each as to the entire Premises (and no less than the entire Premises) upon the following terms and conditions. Any extension of the Term pursuant to an Option shall be on all the
same terms and conditions as this Lease, except that Base Rent shall be at the then-current fair market value for the Premises to be determined as follows. If Tenant shall have timely exercised an Option, the parties shall endeavor to agree upon the
fair market rental value of the Premises, as of the first day of each extension term. In determining fair market rental value, the parties shall take into account all relevant factors, including, without limitation, that the Base Rent is subject to
an automatic annual increase, and the Premises shall be deemed to have Building standard improvements, notwithstanding that Tenant may have installed above standard improvements. In the event that the parties are unable to agree upon such fair
market value for either extension term within thirty (30) days after the giving of the notice of exercise of such Option, as the case may be, then Tenant shall have the right at any time prior to the appointment of a Baseball Arbitrator (as
defined below) to void the exercise of the applicable Option, upon notice to Landlord, or if Tenant does not so void such notice then either party may request that the same be determined as follows: A senior officer of a nationally recognized
leasing brokerage firm with local knowledge of San Diego County laboratory / research and development leasing market (the “Baseball Arbitrator”) shall be selected and paid for jointly by Landlord and Tenant. If Landlord and Tenant
are unable to agree upon the Baseball Arbitrator, then the same shall be designated by the San Diego Chapter of the American Arbitration Association or any successor organization thereto (the “AAA”). The Baseball Arbitrator, but not
necessarily his or her employer, selected by the parties or designated by the President of the AAA shall (i) have at least ten (10) years experience in the leasing of office and laboratory / research and development space in San Diego
County and (ii) not have done work for, or been employed or retained by, either Landlord or Tenant or any affiliate of either for a period of at least ten (10) years prior to his/her appointment pursuant hereto. Landlord and Tenant shall
each submit to the Baseball Arbitrator and to the other its 

  
 53 

 
determination of the fair market rental value. The Baseball Arbitrator shall afford to Landlord and Tenant a hearing and the right to submit evidence. The Baseball Arbitrator shall determine
which of the two (2) rent determinations more closely represents the fair market rental value of the Premises. The arbitrator may not select any other fair market rental value for the Premises other than one submitted by Landlord or Tenant. The
determination of the party so selected or designated shall be binding upon Landlord and Tenant and shall serve as the basis for the determination of the Base Rent payable for the applicable extension term. If, as of the commencement date of the
applicable extension term, the amount of the Base Rent payable during the applicable Renewal Term in accordance with this Article 42 shall not have been determined, then, pending such determination, Tenant shall pay Base Rent equal to the Base Rent
payable in the immediately preceding year subject to escalation as provided in Article 8 or Section 42.1, as applicable. After the final determination of the Base Rent payable for such extension term, the parties promptly and
appropriately shall adjust rental payments theretofore made during the applicable extension term and shall execute a written agreement specifying the amount of the Base Rent as so determined. Any failure of the parties to execute such written
agreement shall not affect the validity of the Base Rent as so determined. 
 42.1. Base Rent shall be
increased by three percent (3%) on the first
(1st) anniversary of the first (1st) day of the applicable extension term and each annual
anniversary date thereof. 
 42.2. No Option is assignable separate and apart from this Lease. 

42.3. An Option is conditional upon Tenant giving Landlord written notice of its election to exercise such Option at least nine
(9) months prior to the end of the expiration of the then-current Term. Time shall be of the essence as to Tenant’s exercise of an Option. Tenant assumes full responsibility for maintaining a record of the deadlines to exercise an Option.
Tenant acknowledges that it would be inequitable to require Landlord to accept any exercise of an Option after the date provided for in this Section. 
 42.4. Notwithstanding anything contained in this Article to the contrary, Tenant shall not have the right to exercise an Option: 
 (a) During the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified
default to Landlord’s reasonable satisfaction; or 
 (b) At any time after any Default as described in Article 31 of
the Lease (provided, however, that, for purposes of this Subsection 42.4(b), Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is
susceptible to being cured; or 
 (c) In the event that Tenant has defaulted in the performance of its obligations under this
Lease more than two (2) times and a service or late charge has become payable under Section 31.1 for each of such defaults during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Option,
whether or not Tenant has cured such defaults. 

  
 54 

 42.5. The period of time within which Tenant may exercise an Option shall not be extended or
enlarged by reason of Tenant’s inability to exercise such Option because of the provisions of Section 42.4. 
 42.6.
All of Tenant’s rights under the provisions of an Option shall terminate and be of no further force or effect even after Tenant’s due and timely exercise of such Option if, after such exercise, but prior to the commencement date of the new
term, (a) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of twenty (20) days after written notice from Landlord to Tenant, (b) Tenant fails to commence to cure a default (other than a monetary default)
within thirty (30) days after the date Landlord gives notice to Tenant of such default or (c) Tenant has defaulted under this Lease two (2) or more times and a service or late charge under Section 31.1 has become payable
for any such default, whether or not Tenant has cured such defaults. 
 43. Right of First Refusal. Tenant shall have a right of first
refusal (“ROFR”) as to any rentable premises on the first floor of the Building for which Landlord is seeking a tenant (“Available ROFR Premises”); provided, however, that in no event shall Landlord be
required to lease any Available ROFR Premises to Tenant for any period past the date on which this Lease expires or is terminated pursuant to its terms. To the extent that Landlord renews or extends a then-existing lease with any then-existing
tenant of any space, or enters into a new lease with such then-existing tenant for the same premises, the affected space shall not be deemed to be Available ROFR Premises. In the event Landlord intends to lease Available ROFR Premises, Landlord
shall provide written notice thereof to Tenant (the “Notice of Offer”), specifying the terms and conditions of a proposed lease to Tenant of the Available ROFR Premises. 

43.1. Within ten (10) days following its receipt of a Notice of Offer, Tenant shall advise Landlord in writing whether Tenant elects
to lease all (not just a portion) of the Available ROFR Premises on the terms and conditions set forth in the Notice of Offer. If Tenant fails to notify Landlord of Tenant’s election within said ten (10) day period, then Tenant shall be
deemed to have elected not to lease the Available ROFR Premises. 
 43.2. If Tenant timely notifies Landlord that Tenant elects
to lease the Available ROFR Premises on the terms and conditions set forth in the Notice of Offer, then Landlord shall lease the Available ROFR Premises to Tenant upon the terms and conditions set forth in the Notice of Offer. 

43.3. If Tenant notifies Landlord that Tenant elects not to lease the Available ROFR Premises on the terms and conditions set forth in
the Notice of Offer, or if Tenant fails to notify Landlord of Tenant’s election within the ten (10)-day period described above, then Landlord shall have the right to consummate the lease of the Available ROFR Premises on the same terms as set
forth in the Notice of Offer following Tenant’s election (or deemed election) not to lease the Available ROFR Premises. If Landlord does not lease the Available ROFR Premises within one hundred eighty (180) days after Tenant’s
election (or deemed election) not to lease the Available ROFR Premises, then the ROFR shall be fully reinstated, and Landlord shall not thereafter lease the Available ROFR Premises without first complying with the procedures set forth in this
Article. 

  
 55 

 43.4. Notwithstanding anything in this Article to the contrary, Tenant shall not exercise
the ROFR during such period of time that Tenant is in default under any provision of this Lease. Any attempted exercise of the ROFR during a period of time in which Tenant is so in default shall be void and of no effect. In addition, Tenant shall
not be entitled to exercise the ROFR if Landlord has given Tenant more than two (2) notices of default under this Lease, whether or not the defaults are cured, during the twelve (12) month period prior to the date on which Tenant seeks to
exercise the ROFR. 
 43.5. Notwithstanding anything in this Lease to the contrary, Tenant shall not assign or transfer the
ROFR, either separately or in conjunction with an assignment or transfer of Tenant’s interest in the Lease, without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. 

43.6. If Tenant exercises the ROFR, Landlord does not guarantee that the Available ROFR Premises will be available on the anticipated
commencement date for the Lease as to such Premises due to a holdover by the then-existing occupants of the Available ROFR Premises or for any other reason beyond Landlord’s reasonable control. 

44. Early Termination Option. Tenant shall have the right to terminate this Lease (the “Early Termination Option”) at any time
after the date that is sixty (60) months after the Term Commencement Date (the “Early Termination Date”), subject to the following terms and conditions: 
 44.1. Tenant shall not be in Default either on the date that Tenant exercises the Early Termination Option or on the designated Early Termination Date; and 

44.2. Tenant must give Landlord no less than nine (9) months’ advance written notice of Tenant’s election to exercise the
Early Termination Option (“Tenant’s Termination Notice”), time being of the essence, which notice will state the Early Termination Date and Tenant’s calculation of the Early Termination Fee (as defined below); and

 44.3. Upon exercise of the Early Termination Option, Tenant shall pay Landlord, on or before the Early Termination Date, an
early termination fee (the “Early Termination Fee”) equal to the unamortized balance of (a) all leasing commissions paid to Broker related to this Lease and (b) the TI Allowance still to be paid by Tenant to Landlord as of
the Early Termination Date. The calculation of the Early Termination Fee shall be based on a straight line amortization of the above amounts commencing as of the Term Commencement Date and continuing through the scheduled Term Expiration Date. Rent
shall continue to be payable through the Early Termination Date. 
 If Lessee properly exercises the Early Termination Option
and performs all of its obligations through the Early Termination Date, then all Rent payable under this Lease shall be paid through and apportioned as of the Early Termination Date, the Term of this Lease shall terminate as of the Early Termination
Date, and neither party shall thereafter have any further rights or obligations accruing after said Early Termination Date, except those which by the provisions of this Lease expressly survive the expiration or termination thereof. 

  
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 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 57 

 IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the date first above
written. 
 LANDLORD: 

BMR-JOHN HOPKINS COURT LLC, 
 a Delaware limited
liability company 
  

			
	By:	 	/s/ John Bonanno
	Name:	 	John Bonanno
	 Title:
	 	Vice President, Development

 TENANT: 

REGULUS THERAPEUTICS INC., 
 a Delaware
corporation 
  

			
	By:	 	/s/ Kleanthis G. Xanthopoulos
	Name:	 	Kleanthis G. Xanthopoulos, Ph.D.
	 Title:
	 	CEO

  
 58 

 EXHIBIT A 
 PREMISES 
 [attached hereto] 

  
 A-1

 EXHIBIT A-1 
 SUITE 210 DEPICTION 
 [attached hereto] 

  
 A-1-1

 EXHIBIT B 
 WORK LETTER 
 This Work Letter (this
“Work Letter”) is made and entered into as of the 19th day of March, 2010, by and between BMR-John Hopkins Court LLC, a Delaware limited liability company (“Landlord”), and Regulus Therapeutics, Inc., a Delaware corporation
(“Tenant”), and is attached to and made a part of that certain Lease dated as of March 19, 2010 (as the same may be amended, amended and restated, supplemented or otherwise modified from time to time, the
“Lease”), by and between Landlord and Tenant for the Premises located at 3545-3575 John Hopkins Court, San Diego, California. All capitalized terms used but not otherwise defined herein shall have the meanings given them in the
Lease. 
 1. General Requirements. 
 1.1. Authorized Representatives. 
 (a) Landlord designates, as
Landlord’s authorized representative (“Landlord’s Authorized Representative”), (a) Federico Mina as the person authorized to initial plans, drawings and approvals pursuant to this Work Letter and (b) John Bonanno
as the person authorized to initial plans, drawings, approvals and to sign change orders pursuant to this Work Letter and any amendments to this Work Letter or the Lease. Tenant shall not be obligated to respond to or act upon any such item until
such item has been initialed or signed (as applicable) by the appropriate Landlord’s Authorized Representative. Landlord may change either Landlord’s Authorized Representative upon one (1) business day’s prior written notice to
Tenant. 
 (b) Tenant designates Garry Menzel (“Tenant’s Authorized Representative”) as the person
authorized to initial and sign all plans, drawings, change orders and approvals pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any such item until such item has been initialed or signed (as applicable) by
Tenant’s Authorized Representative. Tenant may change Tenant’s Authorized Representative upon one (1) business day’s prior written notice to Landlord. 
 1.2. Schedule. The schedule for design and development of the Tenant Improvements, including the time periods for preparation and review of construction documents, approvals and performance, shall
be in accordance with a schedule to be prepared by Tenant (the “Schedule”). Tenant shall prepare the Schedule so that it is a reasonable schedule for the completion of the Tenant Improvements. As soon as the Schedule is completed,
Tenant shall deliver the same to Landlord for Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Such Schedule shall be approved or disapproved by Landlord within five (5) business days after
delivery to Landlord. Landlord’s failure to respond within such five (5) business day period shall be deemed approval by Landlord. If Landlord disapproves the Schedule, then Landlord shall notify Tenant in writing of its objections to such
Schedule, and the parties shall confer and negotiate in good faith to reach agreement on the Schedule. The Schedule shall be subject to adjustment as mutually agreed upon in writing by the parties, or as provided in this Work Letter. 

  
 B-1

 1.3. Tenant’s Architects, Contractors and Consultants. The architect,
engineering consultants, design team, general contractor and subcontractors responsible for the construction of the Tenant Improvements shall be selected by Tenant and approved by Landlord, which approval Landlord shall not unreasonably withhold,
condition or delay (and subject to Section 4.6 of the Lease). Landlord may refuse to use any architects, consultants, contractors, subcontractors or material suppliers that Landlord reasonably believes could cause labor disharmony. All
Tenant contracts related to the Tenant Improvements shall provide that Tenant may assign such contracts to Landlord and Landlord’s tenants at any time. 
 2. Tenant Improvements. All Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any
portion of the TI Allowance) and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost of the Tenant Improvements (as reasonably projected by Landlord) exceeds the TI
Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs of the Tenant Improvements on a pari passu basis with Landlord (with Landlord providing the TI Allowance and Tenant providing the Excess TI Costs), as they
become due to the applicable contractors (or to Landlord for payment by Landlord to such contractors). All material and equipment furnished by Tenant or its contractors as the Tenant Improvements shall be new or “like new;” the Tenant
Improvements shall be performed in a first-class, workmanlike manner; and the quality of the Tenant Improvements shall be of a nature and character not less than the Building Standard. 

2.1. Work Plans. Tenant shall prepare and submit to Landlord for approval schematics covering the Tenant Improvements prepared in
conformity with the applicable provisions of this Work Letter (the “Draft Schematic Plans”). The Draft Schematic Plans shall contain sufficient information and detail to accurately describe the proposed design to Landlord and such
other information as Landlord may reasonably request. Landlord shall notify Tenant in writing within five (5) business days after receipt of the Draft Schematic Plans whether Landlord approves or objects to the Draft Schematic Plans and of the
manner, if any, in which the Draft Schematic Plans are unacceptable. Landlord’s failure to respond within such five (5) business day period shall be deemed approval by Landlord. If Landlord reasonably objects to the Draft Schematic Plans,
then the parties will meet and confer and agree on any required changes within two (2) business days after such disapproval. Tenant shall then resubmit the revised Draft Schematic Plans to Landlord for approval, such approval not to be
unreasonably withheld, conditioned or delayed. Landlord’s approval of or objection to revised Draft Schematic Plans and Tenant’s correction of the same shall be in accordance with this Section until Landlord has approved the Draft
Schematic Plans in writing or been deemed to have approved them. The iteration of the Draft Schematic Plans that is approved or deemed approved by Landlord without objection shall be referred to herein as the “Approved Schematic
Plans.” 
 2.2. Construction Plans. If required to obtain permits, Tenant shall prepare final plans and
specifications for the Tenant Improvements that (a) are consistent with and are logical evolutions of the Approved Schematic Plans and (b) incorporate any other Tenant-requested (and Landlord-approved) Changes (as defined below). As soon
as such final plans and specifications (“Construction Plans”) are completed, Tenant shall deliver the same to Landlord for Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Such

  
 B-2

 
Construction Plans shall be approved or disapproved by Landlord within five (5) business days after delivery to Landlord. Landlord’s failure to respond within such five
(5) business day period shall be deemed approval by Landlord. If the Construction Plans are disapproved by Landlord, then Landlord shall notify Tenant in writing of its objections to such Construction Plans, and the parties shall confer and
negotiate in good faith to reach agreement on the Construction Plans within two (2) business days after such disapproval. Promptly after the Construction Plans are approved by Landlord and Tenant, two (2) copies of such Construction Plans
shall be initialed and dated by Landlord and Tenant, and Tenant shall promptly submit such Construction Plans to all appropriate Governmental Authorities for approval. The Construction Plans so approved, and all change orders specifically permitted
by this Work Letter, are referred to herein as the “Approved Plans.” 
 2.3. Changes to the Tenant
Improvements. Any changes to the Approved Plans (each, a “Change”) shall be requested and instituted in accordance with the provisions of this Article 2 and shall be subject to the written approval of the non-requesting
party in accordance with this Work Letter. 
 (a) Change Request. Either Landlord or Tenant may request Changes after
Landlord approves the Approved Plans by notifying the other party thereof in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent
of any requested Changes, including (a) the Change, (b) the party required to perform the Change and (c) any modification of the Approved Plans and the Schedule, as applicable, necessitated by the Change. If the nature of a Change
requires revisions to the Approved Plans, then the requesting party shall be solely responsible for the cost and expense of such revisions and any increases in the cost of the Tenant Improvements as a result of such Change. Change Requests shall be
signed by the requesting party’s Authorized Representative. Landlord will only be permitted to submit a Change Request to the extent such Change request is required to comply with Applicable Laws. 

(b) Approval of Changes. All Change Requests shall be subject to the other party’s prior written approval, which approval
shall not be unreasonably withheld, conditioned or delayed. The non-requesting party shall have five (5) business days after receipt of a Change Request to notify the requesting party in writing of the non-requesting party’s decision
either to approve or object to the Change Request. The non-requesting party’s failure to respond within such five (5) business day period shall be deemed approval by the non-requesting party. 

2.4. Preparation of Estimates. Either party shall, before proceeding with any Change, using its best efforts, prepare as soon as
is reasonably practicable (but in no event more than five (5) business days after delivering a Change Request to the other party) an estimate of the increased costs or savings that would result from such Change, as well as an estimate on such
Change’s effects on the Schedule. Either party shall have five (5) business days after receipt of such information from the requesting party to approve or reject such Change Request in writing. Any delay caused by a Landlord Change Request
will extend the Term Commencement Date by the number of days such Change Request will delay substantial completion of the Tenant Improvements. 

  
 B-3

 3. Completion of Tenant Improvements. Tenant, at its sole cost and expense (except for the TI
Allowance and the Cash Payment), shall perform and complete the Tenant Improvements in all respects (a) in substantial conformance with the Approved Plans, (b) otherwise in compliance with provisions of the Lease and this Work Letter and
(c) in accordance with Applicable Laws (except as required of Landlord pursuant to Article 5 of the Lease), the requirements of Tenant’s insurance carriers, the requirements of Landlord’s insurance carriers (to the extent
Landlord provides its insurance carriers’ requirements to Tenant) and the board of fire underwriters having jurisdiction over the Premises. The Tenant Improvements shall be deemed completed at such time as Tenant shall furnish to Landlord
(v) evidence satisfactory to Landlord that (i) all Tenant Improvements have been completed and paid for in full (which shall be evidenced by the architect’s certificate of completion and the general contractor’s and each
subcontractor’s and material supplier’s final unconditional waivers and releases of liens, each in a form reasonably acceptable to Owner and complying with Applicable Laws), (ii) all Tenant Improvements have been reasonably accepted
by Landlord, (iii) any and all liens related to the Tenant Improvements have either been discharged of record (by payment, bond, order of a court of competent jurisdiction or otherwise) or waived by the party filing such lien and (iv) no
security interests relating to the Tenant Improvements are outstanding, (w) all certifications and approvals with respect to the Tenant Improvements that may be required from any Governmental Authority and any board of fire underwriters or
similar body for the use and occupancy of the Premises, (x) certificates of insurance required by the Lease to be purchased and maintained by Tenant, (y) an affidavit from Tenant’s architect certifying that all work performed in, on
or about the Premises is in accordance with the Approved Plans and (z) complete drawing print sets and electronic CADD files on disc of all contract documents for work performed by their architect and engineers in relation to the Tenant
Improvements. 
 4. Insurance. 
 4.1. Property Insurance. At all times during the period beginning with commencement of construction of the Tenant Improvements and ending with final completion of the Tenant Improvements, Tenant
shall maintain or shall cause Tenant’s contractor to maintain, or cause to be maintained (in addition to the insurance required of Tenant pursuant to the Lease), property insurance insuring Landlord and the Landlord Parties, as their interests
may appear. Such policy shall, on a completed values basis for the full insurable value at all times, insure against loss or damage by fire, vandalism and malicious mischief and other such risks as are customarily covered by the so-called
“broad form extended coverage endorsement” upon all Tenant Improvements and the general contractor’s and any subcontractors’ machinery, tools and equipment, all while each forms a part of, or is contained in, the Tenant
Improvements or any temporary structures on the Premises, or is adjacent thereto; provided that, for the avoidance of doubt, insurance coverage with respect to the general contractor’s and any subcontractors’ machinery, tools and
equipment shall be carried on a primary basis by such general contractor or the applicable subcontractor(s). Tenant agrees to pay any deductible, and Landlord is not responsible for any deductible, for a claim under such insurance. Said property
insurance shall contain an express waiver of any right of subrogation by the insurer against Landlord and the Landlord Parties, and shall name Landlord and its affiliates as loss payees as their interests may appear. 

  
 B-4

 4.2. Workers’ Compensation Insurance. At all times during the period of
construction of the Tenant Improvements, Tenant shall, or shall cause its contractors or subcontractors to, maintain statutory workers’ compensation insurance as required by Applicable Laws. 

5. Liability. Landlord shall not be liable for any injuries, loss, claim or damage suffered by Tenant or any persons in the Premises during the
completion of the Tenant Improvements, except to the extent of Landlord’s gross negligence or willful misconduct and Tenant’s indemnity obligations pursuant to Section 28.1 of the Lease shall apply to the completion of the Tenant
Improvements. Any deficiency in design or construction of the Tenant Improvements shall be solely the responsibility of Tenant, notwithstanding the fact that Landlord may have approved of the same in writing. 

6. TI Allowance. 
 6.1.
Application of TI Allowance. Landlord shall contribute the TI Allowance and Cash Payment toward the costs and expenses incurred in connection with the performance of the Tenant Improvements, in accordance with Article 4 of the Lease,
with the Cash Payment being disbursed first. If the entire TI Allowance is not applied toward or reserved for the costs of the Tenant Improvements, then Tenant shall not be entitled to a credit of such unused portion of the TI Allowance. Tenant may
apply the TI Allowance for the payment of construction and other costs in accordance with the terms and provisions of the Lease. 
 6.2. Approval of Budget for the Tenant Improvements. Notwithstanding anything to the contrary set forth elsewhere in this Work Letter or the Lease, Landlord shall not have any obligation to expend
any portion of the TI Allowance until Landlord and Tenant shall have approved in writing the budget for the Tenant Improvements (the “Approved Budget”). Prior to Landlord’s approval of the Approved Budget, Tenant shall pay all
of the costs and expenses incurred in connection with the Tenant Improvements as they become due. Landlord shall not be obligated to reimburse Tenant for costs or expenses relating to the Tenant Improvements that exceed the amount of the TI
Allowance and the Cash Payment. Landlord shall not unreasonably withhold, condition or delay its approval of any budget for Tenant Improvements that is proposed by Tenant. 
 6.3. Advance Requests. Upon submission by Tenant to Landlord of (a) a statement (an “Advance Request”) setting forth the total amount of the TI Allowance requested, (b) a
summary of the Tenant Improvements performed using AIA standard form Application for Payment (G 702) executed by the general contractor and by the architect, (c) conditional lien releases from the general contractor and each subcontractor and
material supplier with respect to previous payments made by either Landlord or Tenant for the Tenant Improvements and (d) conditional lien releases from the general contractor and each subcontractor and material supplier with respect to the
Tenant Improvements performed that correspond to the Advance Request, then Landlord shall, within thirty (30) days following receipt by Landlord of an Advance Request and the accompanying materials required by this Section, pay to the
applicable contractors, subcontractors and material suppliers or to Tenant (for reimbursement for payments made by Tenant prior to Landlord’s approval of the Approved Budget to such contractors, subcontractors or material suppliers), as elected
by Landlord, the amount of Tenant Improvement costs set forth 

  
 B-5

 
in such Advance Request; provided, however, that Landlord shall not be obligated to make any payments under this Section until the budget for the Tenant Improvements is approved in
accordance with Section 6.2 above, and any Advance Request under this Section shall be subject to the payment limits set forth in Section 6.2 above and Article 4 of the Lease. 

7. Miscellaneous. 
 7.1.
Number; Headings. Where applicable in this Work Letter, the singular includes the plural and the masculine or neuter includes the masculine, feminine and neuter. The section headings of this Work Letter are not a part of this Work Letter and
shall have no effect upon the construction or interpretation of any part hereof. 
 7.2. Attorneys’ Fees. If either
party commences an action against the other party arising out of or in connection with this Work Letter, then the substantially prevailing party shall be entitled to have and recover from the other party reasonable attorneys’ fees, charges and
disbursements and costs of suit. 
 7.3. Time of Essence. Time is of the essence with respect to the performance of every
provision of this Work Letter in which time of performance is a factor. 
 7.4. Covenant and Condition. Each provision of
this Work Letter performable by Tenant shall be deemed both a covenant and a condition. 
 7.5. Withholding of Consent.
Whenever consent or approval of either party is required, that party shall not unreasonably withhold, condition or delay such consent or approval, except as may be expressly set forth to the contrary. 

7.6. Invalidity. Any provision of this Work Letter that shall prove to be invalid, void or illegal shall in no way affect, impair
or invalidate any other provision hereof, and all other provisions of this Work Letter shall remain in full force and effect and shall be interpreted as if the invalid, void or illegal provision did not exist. 

7.7. Interpretation. The language in all parts of this Work Letter shall be in all cases construed as a whole according to its
fair meaning and not strictly for or against either Landlord or Tenant. 
 7.8. Successors. Each of the covenants,
conditions and agreements herein contained shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs; legatees; devisees; executors; administrators; and permitted successors, assigns,
sublessees. Nothing in this Section shall in any way alter the provisions of the Lease restricting assignment or subletting. 

7.9. Governing Law. This Work Letter shall be governed by, construed and enforced in accordance with the laws of the state in
which the Premises are located, without regard to such state’s conflict of law principles. 

  
 B-6

 7.10. Power and Authority. Tenant guarantees, warrants and represents that the
individual or individuals signing this Work Letter have the power, authority and legal capacity to sign this Work Letter on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other
organizations and entities on whose behalf said individual or individuals have signed. 
 7.11. Counterparts. This Work
Letter may be executed in one or more counterparts, each of which, when taken together, shall constitute one and the same document. 
 7.12. Amendments; Waiver. No provision of this Work Letter may be modified, amended or supplemented except by an agreement in writing signed by Landlord and Tenant. The waiver by Landlord of any
breach by Tenant of any term, covenant or condition herein contained shall not be deemed to be a waiver of any subsequent breach of the same or any other term, covenant or condition herein contained. 

7.13. Waiver of Jury Trial. To the extent permitted by Applicable Laws, the parties waive trial by jury in any action, proceeding
or counterclaim brought by the other party hereto related to matters arising out of or in any way connected with this Work Letter; the relationship between Landlord and Tenant; Tenant’s use or occupancy of the Premises; or any claim of injury
or damage related to this Work Letter or the Premises. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 B-7

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Work Letter to be effective on
the date first above written. 
  

			
	LANDLORD:
	
	 BMR-JOHN HOPKINS COURT LLC,
 a Delaware limited liability company

		
	By:	 	/s/ John Bonanno
	Name:	 	John Bonanno
	Title:	 	Vice President, Development
	
	TENANT:
	
	 REGULUS THERAPEUTICS, INC.,
 a Delaware corporation

		
	By:	 	/s/ Kleanthis Xanthopoulos
	Name:	 	Kleanthis G. Xanthopoulos, Ph.D.
	Title:	 	CEO

  
 B-8

 EXHIBIT D 
 BASE RENT SCHEDULE (EXCLUSIVE OF TI ALLOWANCE) 
  

																	
	 Dates
	  	Square Feet of
Rentable 
Area	 	  	Base Rent per 
Square
Foot of Rentable Area	 	 	Monthly Base
Rent	 	  	Annual Base
Rent	 
	 Month 1-84
	  	 	21,470	  	  	$	1.50 monthly	* 	 	$	32,205.00	  	  	$	386,460.00	  

  

	*	Subject to annual increases as provided in Article 8 of the Lease. 

  
 D-1

 EXHIBIT E 
 RULES AND REGULATIONS 
 NOTHING IN THESE RULES AND REGULATIONS (“RULES AND
REGULATIONS”) SHALL SUPPLANT ANY PROVISION OF THE LEASE. IN THE EVENT OF A CONFLICT OR INCONSISTENCY BETWEEN THESE RULES AND REGULATIONS AND THE LEASE, THE LEASE SHALL PREVAIL. 

1. Except as specifically provided in the Lease to which these Rules and Regulations are attached, no sign, placard, picture,
advertisement, name or notice shall be installed or displayed on any part of the outside of the Premises or the Building without Landlord’s prior written consent. Landlord shall have the right to remove, at Tenant’s sole cost and expense
and without notice, any sign installed or displayed in violation of this rule. 
 2. If Landlord objects in writing to any
curtains, blinds, shades, screens or hanging plants or other similar objects attached to or used in connection with any window or door of the Premises or placed on any windowsill, which window, door or windowsill is (a) visible from the
exterior of the Premises and (b) not included in plans approved by Landlord, then Tenant shall promptly remove said curtains, blinds, shades, screens or hanging plants or other similar objects at its sole cost and expense. 

3. Tenant shall not obstruct any sidewalks or entrances to the Building or the Project, or any halls, passages, exits, entrances or
stairways within the Premises, in any case that are required to be kept clear for health and safety reasons. 
 4. Deliveries
shall be made no later than 8 a.m. and no earlier than 6 p.m. No deliveries shall be made that impede or interfere with other tenants in or the operation of the Project. 
 5. Tenant shall not place a load upon any floor of the Premises that exceeds the load per square foot that (a) such floor was designed to carry or (b) that is allowed by Applicable Laws.
Fixtures and equipment that cause noises or vibrations that may be transmitted to the structure of the Building to such a degree as to be unreasonably objectionable to other tenants shall be placed and maintained by Tenant, at Tenant’s sole
cost and expense, on vibration eliminators or other devices sufficient to eliminate such noises and vibrations to levels reasonably acceptable to Landlord and other tenants of the Project. 

6. Tenant shall not use any method of heating or air conditioning other than that shown in the Tenant Improvement plans or existing in
the Premises as of the Term Commencement Date. 
 7. Tenant shall not install any radio, television or other antenna, cell or
other communications equipment, or any other devices on the roof or exterior walls of the Premises except to the extent shown on approved Tenant Improvements plans or permitted under the terms and conditions of the Lease. Tenant shall not interfere
with radio, television or other communications from or in the Premises or elsewhere. 

  
 E-1

 8. Canvassing, peddling, soliciting and distributing handbills or any other written material
within, on or around the Project (other than within the Premises) are prohibited, and Tenant shall cooperate to prevent such activities. 
 9. Tenant shall store all of its trash, garbage and Hazardous Materials within its Premises or in receptacles designated by Landlord outside of the Premises. Tenant shall not place in any such receptacle
any material that cannot be disposed of in the ordinary and customary manner of trash, garbage and Hazardous Materials disposal. 
 10. The Premises shall not be used for any unlawful purpose. No cooking shall be done or permitted on the Premises; provided, however, that Tenant may use (a) equipment approved in accordance
with the requirements of insurance policies that Landlord or Tenant is required to purchase and maintain pursuant to the Lease for brewing coffee, tea, hot chocolate and similar beverages, (b) microwave ovens for employees’ use and
(c) equipment shown on Tenant Improvement plans approved by Landlord; provided, further, that any such equipment and microwave ovens are used in accordance with Applicable Laws. 

11. Tenant shall not, without Landlord’s prior written consent, use the name of the Project, if any, in connection with or in
promoting or advertising Tenant’s business except as Tenant’s address. 
 12. Tenant shall comply with all safety,
fire protection and evacuation procedures and regulations established by Landlord or any Governmental Authority. 
 13. Tenant
assumes any and all responsibility for protecting the Premises from theft, robbery and pilferage, which responsibility includes keeping doors locked and other means of entry to the Premises closed. 

14. Landlord may waive any one or more of these Rules and Regulations for the benefit of Tenant or any other tenant, but no such waiver
by Landlord shall be construed as a waiver of such Rules and Regulations in favor of Tenant or any other tenant, nor prevent Landlord from thereafter enforcing any such Rules and Regulations against any or all of the tenants of the Project,
including Tenant. 
 15. These Rules and Regulations are in addition to, and shall not be construed to in any way modify or
amend, in whole or in part, the terms covenants, agreements and conditions of the Lease. 
 16. Landlord reserves the right to
make such other and reasonable rules and regulations as, in its judgment, may from time to time be needed for safety and security, the care and cleanliness of the Project, or the preservation of good order therein; provided, however, that
Landlord shall provide written notice to Tenant of such rules and regulations prior to them taking effect. Tenant agrees to abide by these Rules and Regulations and any additional reasonable rules and regulations issued or adopted by Landlord.

 17. Tenant shall be responsible for the observance of these Rules and Regulations by Tenant’s employees, agents,
contractors and invitees. 

  
 E-2

 18. Tenant shall furnish Landlord with copies of keys, pass cards or similar devices for
locks to the Premises. 
 19. Tenant shall cooperate and participate in all reasonable security programs affecting the Premises.

  
 E-3

 EXHIBIT F 
 TENANT’S PERSONAL PROPERTY 

  
 F-1

 EXHIBIT H 
 SIGNAGE 
 [attached hereto] 

  
 H-1

 EXHIBIT I 
 FF&E 
 [attached hereto] 

  
 H-1

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