Document:

EX-10.16

 Exhibit 10.16 

SECOND AMENDMENT TO LEASE AGREEMENT 

THIS SECOND AMENDMENT TO LEASE AGREEMENT (this “Second Amendment”) is made and entered into as of April 7, 2017, by and
between 21st CENTURY TECHBANQ PASADENA LLC, a California limited liability company (the “Landlord”), and ROCKLEY PHOTONICS, INC., a Delaware
corporation (the “Tenant”). 
 RECITALS 

A. Landlord and Tenant are parties to that certain Lease Agreement dated November 20, 2015 (the “Original Lease”), as
amended by that certain First Amendment to Lease dated April 27, 2016 (the “First Amendment” and collectively with the Original Lease, the “Existing Lease”), for the premises consisting of approximately 7,678
rentable square feet, commonly known as Suites 600 and 610 (the “Existing Premises”), on the 6th floor of the office building located at 234 E. Colorado Boulevard, Pasadena, CA
91101 (the “Building”). 
 B. Tenant desires to (a) expand the Existing Premises to include that certain space
consisting of approximately 912 rentable square feet, commonly known as Suite 200 (the “Expansion Premises”), located on the 2nd floor of the Building, as shown on Exhibit
A attached hereto and incorporated herein, and (b) make other modifications to the Existing Lease. In connection therewith, Landlord and Tenant desire to amend the Existing Lease as set forth herein. 

NOW, THEREFORE, in consideration of the foregoing recitals, the mutual covenants contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows: 
 AGREEMENT 

1. Definitions. All capitalized terms used herein, unless otherwise expressly defined in this Second Amendment, shall have the
meanings ascribed to them in the Existing Lease. Unless the context clearly indicates otherwise, all references to the “Lease” shall hereafter be deemed to refer to the Existing Lease as amended hereby. In the event of any inconsistency
between the terms of the Existing Lease and the terms of this Second Amendment, the terms of this Second Amendment shall control. 
 2.
Modification of Premises. Effective as of the Expansion Premises Commencement Date (as defined in Section 3, below), Tenant shall lease from Landlord, and Landlord shall lease to Tenant, the Expansion
Premises. Landlord and Tenant hereby acknowledge that such addition of the Expansion Premises to the Existing Premises shall, effective as of the Expansion Premises Commencement Date, increase the size of the Premises to approximately 8,590 rentable
square feet. The Existing Premises and the Expansion Premises may hereinafter collectively be referred to as the “Premises.” 

3. Expansion Premises Term. The term of Tenant’s lease of the Expansion Premises shall commence on the date (the
“Expansion Premises Commencement Date”) of Landlord’s delivery of the Expansion Premises to Tenant for occupancy upon Substantial Completion (as such term is defined in Construction Rider attached to this Second Amendment as
Exhibit B and incorporated herein) of Tenant Improvements in the Expansion Premises (as set forth in Exhibit  

 
B), and shall expire coterminously with Tenant’s lease of the Existing Premises on the Lease Expiration Date (i.e., March 31, 2021), unless sooner terminated as provided in the
Lease, as hereby amended. Landlord and Tenant anticipate that the Expansion Premises Commencement Date will occur on or prior to May 1, 2017 (the “Anticipated Expansion Premises Commencement Date”). In the event the Expansion
Premises Commencement Date occurs later than the Anticipated Expansion Premises Commencement Date for any reason, neither Landlord nor Landlord’s representatives shall be liable to Tenant for any claims, damages or liabilities resulting from
any such delay, and the Lease shall remain in full force and effect; provided, however, in the event the Expansion Premises are not delivered to Tenant for occupancy by May 15, 2017 (the “Outside Date”), for any reason other
than Tenant Delay (as such term is defined in Exhibit B herein), Tenant may elect to terminate this lease of the Expansion Premises upon not less than ten (10) days prior written notice to Landlord, and Landlord shall, upon expiration of
such ten (10) day period, return to Tenant the Security Deposit, which Tenant provided to Landlord in accordance with Section 7.1 herein. When the Expansion Premises Commencement Date has been established, Landlord and
Tenant shall, at the request of either party, confirm the Expansion Premises Commencement Date and Expansion Premises Expiration Date in writing; provided, however, that the failure of Tenant to execute such confirmation shall not affect the
determination of the Expansion Premises Commencement Date. 
 4. Beneficial Occupancy. Tenant shall have the right to enter and
occupy the Expansion Premises not earlier than ten (10) calendar days prior to the Anticipated Expansion Premises Commencement Date (unless Landlord notifies Tenant in writing the Expansion Commencement Date will occur prior to or later than
the Anticipated Expansion Premises Date, then ten (10) calendar days prior to such earlier or later date, as applicable) for the sole purpose of delivery and installation of Tenant’s Trade Fixtures (as such term is defined in
Section 6.5 of the Original Lease), and personal property, performance of IT/networking and electrical work (provided, however, that such IT/networking and/or electrical work shall be completed in accordance with all
applicable laws and regulations and any necessary permits, which permits shall be obtained by Tenant, at its sole cost and expense, prior to commencement of any such work, and shall be subject to Landlord’s prior written approval, which shall
not be unreasonably withheld, conditioned or delayed), and moving into the Expansion Premises, provided (i) Tenant has delivered to Landlord the required certificates of insurance for the Expansion Premises in accordance with Article 11
of the Original Lease, (ii) Tenant or its representatives do not interfere with Landlord or Landlord’s contractor in completing the Tenant Improvements, and (iii) all of the te1ms and conditions of the Lease (as hereby amended) shall
apply, other than Tenant’s obligation to pay Base Rent and Tenant’s Share of Additional Rent in connection with the Expansion Premises as though the Expansion Premises Commencement Date had occurred (although the Expansion Premises
Commencement Date shall not actually occur until the occurrence of the same pursuant to the terms of Section 3 of this Second Amendment) upon such occupancy of a portion of the Expansion Premises by Tenant. Nothing
contained herein shall affect Tenant’s obligation to pay Base Rent, Tenant’s Share of Additional Rent, and any other amounts due in connection with the Existing Premises. Landlord shall not be responsible for any loss of or damage to
Tenant’s Trade Fixtures and/or personal property delivered to the Expansion Premises prior to the Substantial Completion of the Tenant Improvements. 

  
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 5. Base Rent. 

5.1. Existing Premises. Notwithstanding anything to the contrary in the Lease, Tenant shall continue to pay Base Rent for the
Existing Premises in accordance with the terms of the Existing Lease. 
 5.2. Expansion Premises. Commencing on the Expansion
Premises Commencement Date and continuing throughout the Lease Term, Tenant shall pay to Landlord monthly installments of Base Rent for the Expansion Premises as follows: 
  

													
	 Date*
	  	Annual Base Rent	 	  	Monthly Installment
of Base Rent	 	  	Approximate Monthly
Rental Rate per RSF	 
	 Expansion Premises Commencement Date – April 30, 2018
	  	 	N/A	 	  	$	2,872.80	 	  	$	3.15	 
	 May 1, 2018 – April 30, 2019
	  	$	35,507.81	 	  	$	2,958.98	 	  	$	3.24	 
	 May 1, 2019 – April 30, 2020
	  	$	36,573.04	 	  	$	3,047.75	 	  	$	3.34	 
	 May 1, 2020 – March 31, 2021
	  	$	37,670.23	 	  	$	3,139.19	 	  	$	3.44	 

  

	*	 Assumes Expansion Premises Commencement Date of May 1, 2017. In the event the Expansion Premises
Commencement Date shall be adjusted in accordance with Section 3 of this Second Amendment, the dates set forth above shall be adjusted to reflect the same. 

For clarity, the changes in Base Rent for the Expansion Premises as set forth in this Section 5.2 shall occur on the first (1st) day of each Lease Year throughout the Term. The term “Lease Year” as used herein shall mean each consecutive twelve (12) month period beginning with the Expansion Premises
Commencement Date (or the first day of the next calendar month if the Expansion Premises Commencement Date is other than the first day of the month) and ending one year later, and each subsequent twelve (12) month period. The first Lease Year
shall include the period between the Expansion Premises Commencement Date and the first day of the month following the Expansion Premises Commencement Date if the Expansion Premises Commencement Date is not the first day of a calendar month. The
last Lease Year shall end on the Expansion Premises Expiration Date or date of earlier termination. 
 6. Tenant’s Share of
Additional Rent; Base Year. 
 6.1. Existing Premises. Tenant shall continue to pay Tenant’s Share of Additional
Rent (as defined in Section 3.3 of the Original Lease) in connection with the Existing Premises in accordance with the terms of the Existing Lease, including, but not limited to, Section 3.3 of the
Original Lease and Section 6 of the First Amendment. 

  
 3 

 6.2. Expansion Premises. Except as specifically set forth in this
Section 6.2, commencing on the Expansion Premises Commencement Date, Tenant shall pay Tenant’s Share of Additional Rent in connection with the Expansion Premises in accordance with the terms of
Section 3.3 of the Original Lease as amended by Section 6 of the First Amendment, provided, however, that (i) Tenant’s Share with respect to the Expansion Premises shall equal 0.74% and
Base Year shall be calendar year 2017; and (ii) with respect to the Expansion Premises only, Operating Costs for any calendar year during which average occupancy of the Building is less than ninety-five percent (95%) shall be calculated based
upon the Operating Costs that would have been incurred if the Building had an average occupancy of ninety-five percent (95%) during the entire year. 

7. Letter of Credit; Security Deposit. Landlord and Tenant acknowledge that, in accordance with the Lease and in connection with
the Existing Premises, Tenant has previously delivered to Landlord an unconditional, clean, irrevocable letter of credit (the “L-C”) and that said L-C
in the amount of Two Hundred and Seven Thousand Seventy Dollars and 62/100 ($207,070.62) is held by Landlord as security for the faithful performance by Tenant of the terms, covenants and conditions of the Lease. Landlord shall continue to hold the L-C in accordance with the terms and conditions of the Lease, including but not limited to Article 4 of the Original Lease, as amended by Section 7 of the First Amendment. 

7.1. Expansion Premises Security Deposit. In addition to the L-C held by Landlord
pursuant to the Lease, concurrently with the execution by Tenant of this Second Amendment, Tenant shall deliver to Landlord the sum of Three Thousand Two Hundred Thirty-Three Dollars and 36/100 ($3,233.36) to be held by Landlord as security for the
faithful performance by Tenant of the terms, covenants and conditions of the Lease, as hereby amended (the “Security Deposit”). If Tenant defaults beyond applicable notice and cure periods with respect to any provisions of the Lease
(as hereby amended), including, but not limited to, the provisions relating to the payment of Rent, the removal of property and the repair of resultant damage in accordance with Section 19.1 of the Original Lease, Landlord
may, without notice to Tenant, but shall not be required to apply all or any part of the Security Deposit for the payment of any Rent, and Tenant shall, within ten (10) days upon Landlord’s written demand therefor, restore the Security
Deposit to its original amount. Any unapplied portion of the Security Deposit shall be returned to Tenant, or, at Landlord’s option, to the last assignee of Tenant’s interest under the Lease (as hereby amended), within forty-five
(45) days following the expiration of the Lease Term. Tenant shall not be entitled to any interest on the Security Deposit. Tenant hereby irrevocably waives and relinquishes any and all rights, benefits, or protections, if any, Tenant now has,
or in the future may have, under Section 1950.7 of the California Civil Code, any successor statute, and all other provisions of law, now or hereafter in effect, including, but not limited to, any provision of law which (i) establishes the
time frame by which a landlord must refund a security deposit under a lease, or (ii) provides that a landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage
caused by a tenant, or to clean the subject premises. Tenant acknowledges and agrees that (A) any statutory time frames for the return of a security deposit are superseded by the express period identified in this
Section 7.1, and (B) rather than be so limited, Landlord may claim from the Security Deposit (x) any and all sums expressly identified in this Section 7.1, and (y) any additional
sums reasonably necessary to compensate Landlord for any and all losses or damages caused by Tenant’s default of the Lease, as hereby amended, including, but not limited to, all damages or rent due upon termination of the Lease pursuant to
Section 1951.2 of the California Civil Code. 

  
 4 

 8. Parking. Landlord and Tenant acknowledge that Tenant is currently entitled
to a total of twenty-three (23) unreserved parking passes with respect to the Existing Premises. Effective as of the Expansion Premises Commencement Date, and continuing throughout the Lease Term, Tenant shall be entitled to unreserved parking
passes with respect to the Expansion Premises in accordance with the terms of the Existing Lease, in an amount equal to three (3) unreserved parking passes for every 1,000 rentable square feet of the Expansion Premises, which represents three
(3) unreserved parking passes. For clarity, effective as of the Expansion Premises Commencement Date, Tenant shall be entitled to a total of twenty-six (26) unreserved parking passes with respect to
the Premises. All such parking spaces shall continue to be subject to the applicable terms of the Lease, including but not limited to Article 35 of the Original Lease, as amended by Section 8 of the First Amendment,
and Exhibit E to the Original Lease. 
 9. Condition of Premises; Tenant Improvements. 

9.1. Existing Premises. Tenant acknowledges that Tenant has been occupying the Existing Premises pursuant to the terms of the
Lease, and therefore Tenant continues to accept the Existing Premises in its presently existing, “as-is” condition and acknowledges that except as specifically set forth herein or required by the
terms of the Existing Lease, Landlord has no obligation whatsoever to improve, repair, renovate, restore, refurbish or provide any improvement work or services in or to the Existing Premises or to pay for the same, and neither Landlord nor any agent
of Landlord has made or herein makes any representation or warranty concerning the Existing Premises, its condition, or its present or continued suitability for Tenant’s use. 

9.2. Expansion Premises. Tenant hereby accepts the Expansion Premises in its presently existing,
“as-is” condition and acknowledges that except as specifically set forth herein (including Exhibit B), Landlord has no obligation whatsoever to improve, repair, renovate, restore, refurbish or
provide any improvement work or services in or to the Expansion Premises or to pay for the same, and neither Landlord nor any agent of Landlord has made or herein makes any representation or warranty concerning the Expansion Premises, its condition,
or its present or continued suitability for Tenant’s use. Provided, however, that Landlord shall, at its sole cost and expense, construct certain improvements in the Expansion Premises in accordance with the terms of the Construction Rider
attached hereto as Exhibit B. 
 9.3. California Accessibility Disclosure. For purposes of Section 1938 of the
California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges that the Building, Existing Premises and Expansion Premises have not undergone inspection by a Certified Access Specialist (CASp). 

10. Extension Option. Tenant shall continue to have the right to the “Extension Option,” as defined and provided in
Article 38 of the Original Lease, which Extension Option may only be exercised with respect to the entire Premises (i.e., the Existing Premises and the Expansion Premises); provided, however, that in the event Tenant exercises its partial
termination right with respect to the Expansion Premises, as set forth in Section 11 of this Second Amendment, then the Extension Option shall not apply to the Expansion Premises, but to the entirety of the Premises leased
by Tenant at the time the Extension Option is exercised in accordance with the terms of the Lease, as hereby amended. 

  
 5 

 11. Expansion Premises Termination Right. Provided that Tenant is not in
default (beyond any applicable notice and cure period) under the Lease, as hereby amended, the Tenant shall have the right to terminate Tenant’s lease of the Expansion Premises only, effective as of the date set forth in the Termination Notice
(the “Termination Date”), which Termination Date shall not be earlier than the commencement date of Tenant’s lease of the Available 6th Floor Space for Other Larger
Space (both as defined in this Section 11, below), provided that (A)(i) there shall become available for lease during the Lease Term any space on the 6th floor of
the Building (the “Available 6th Floor Space”) or other spaces in the Building which are larger than the Expansion Premises but not smaller than 3,000 square
feet (each an “Other Larger Space”), (ii) Tenant shall lease from Landlord, and Landlord shall lease to Tenant, such Available 6th Floor Space or Other Larger Space for the
entirety of the remaining Lease Term, and (iii) Tenant and Landlord shall execute an appropriate Lease an1endment reflecting Tenant’s lease of the Available 6th Floor Space or
Other Larger Space; (B) Landlord receives written notice (the “Termination Notice”) from Tenant at least thirty (30) days prior to the Termination Date stating that Tenant intends to te1minate Tenant’s lease of the
Expansion Premises pursuant to the terms and conditions of this Section 11; and (C) Tenant is not in default (beyond any applicable notice and cure period) under the Lease, as hereby amended, as of the Termination
Date. Provided that Tenant terminates Tenant’s lease of the Expansion Premises pursuant to the terms of this Section 11, Tenant’s lease of the Expansion Premises shall automatically terminate and be of no further
force or effect, and Landlord and Tenant shall be relieved of their respective obligations under this Second Amendment in connection with Tenant’s lease of the Expansion Premises as of the Termination Date, except those obligations set forth in
the Lease, as hereby amended, which specifically survive the expiration or earlier termination of this Second Amendment, including, without limitation, the payment by Tenant of all amounts owed by Tenant under this Second Amendment up to and
including the Termination Date. Nothing contained herein shall be deemed to give Tenant the right to terminate its lease of the Existing Premises before the Lease Expiration Date. 

12. Signage. At Landlord’s sole cost and expense, Tenant shall have the right to install a building standard signage on the
directory board in the lobby of the Building as well as a suite entry signage. 
 13. Estoppel. Tenant hereby certifies and
acknowledges that as of the date hereof (a) Landlord is not in default in any respect under the Lease, (b) Tenant does not have any defenses to its obligations under the Lease, (c) Landlord is holding the L-C from Tenant in the amount of $207,070.62, and (d) there are no offsets against rent payable under the Lease. Tenant acknowledges and agrees that: (i) the representations herein set forth constitute a
material consideration to Landlord in entering into this Second Amendment; (ii) such representations are being made by Tenant for purposes of inducing Landlord to enter into this Second Amendment; and (iii) Landlord is relying on such
representations in entering into this Second Amendment. 

  
 6 

 14. Brokers. Each party represents and warrants to the other that no broker,
agent or finder negotiated or was instrumental in negotiating or consummating this Second Amendment other than Cushman & Wakefield representing Landlord and Redstone Commercial Real Estate representing Tenant (collectively, the
“Broker”). Landlord shall pay any commission owed to Broker. Tenant warrants and represents to Landlord that in the negotiating or making of this Second Amendment neither Tenant nor anyone acting on Tenant’s behalf has dealt
with any broker or finder who might be entitled to a fee or commission for this Second Amendment other than the Broker. Each patty shall indemnify and hold the other harmless from any claim or claims, including costs, expenses and reasonable
attorneys’ fees incurred by the other asserted by any other broker or finder for a fee or commission based upon any dealings with or statements made by such party or such party’s representatives. 

15. Tenant’s Notices. Notwithstanding anything in the Existing Lease to the contrary, all notices required to be given to
Tenant under the Lease shall hereafter also be given to the following address: 
 Cooley LLP 

101 California Street, 5th Floor 

San Francisco, CA 94111-5800 

Attn: Anna B. Pope 
 16.
Ratification; No Further Modification. Except as set forth in this Second Amendment, all of the terms, covenants, conditions, provisions and agreements of the Lease shall apply with respect to the Expansion Premises and shall remain
unmodified and in full force and effect. This Second Amendment shall be construed to be part of the Lease and shall be deemed incorporated into the Lease by this reference. 

17. Counterparts. This Second Amendment may be executed in several counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same agreement. 
 [Signature page to follow] 

  
 7 

 IN WITNESS WHEREOF, Landlord and Tenant have caused their duly authorized representatives to
execute this Second Amendment as of the date first above written. 
  

							
	LANDLORD:	 		 	21st CENTURY TECHBANQ PASADENA LLC,
		 		 	a California limited liability company
				
		 		 	By:	 	 /s/ Juanling Wu

		 		 		 	Juanling Wu
		 		 		 	President
			
	TENANT:	 		 	ROCKLEY PHOTONICS, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Andrew Rickman

		 		 		 	Andrew Rickman
		 		 		 	Chairman and Chief Executive Officer
				
		 		 	By:	 	 /s/ Amit Nagra

		 		 		 	Amit Nagra
		 		 		 	Chief Operating Officer

  
 8 

 EXHIBIT A 

EXPANSION PREMISES 

  
 A-1 

 EXHIBIT B 

CONSTRUCTION RIDER 
 1.
Tenant Improvements. Upon the full execution and delivery of the Second Amendment by Landlord and Tenant, Landlord shall, at Landlord’s sole cost and expense, complete in the Expansion Premises (as defined in Recital B of
the Second Amendment) the following improvements (the “Tenant Improvements”): 
  

	 	(a)	 Demolish the existing offices as set forth in Schedule 1 attached hereto and incorporated herein;

  

	 	(b)	 Paint the walls and ceilings with Building-standard paint; 

 

	 	(c)	 Paint the accent color selected by Tenant and reasonably approved by Landlord on up to three of the walls in
the Expansion Premises; 

  

	 	(d)	 Install wall base molding; 

 

	 	(e)	 Install new carpet with the same specifications as the carpet in Suite 600; and 

 

	 	(f)	 Install up to four (4) additional electrical and data outlets in the location determined by Tenant and
reasonably approved by Landlord. 

 Except for the Tenant Improvements in the Expansion Premises set forth in this
Section l, or as otherwise specifically provided in the Lease (as amended), Tenant consents and agrees that Landlord does not have any obligation to perform any other work in the Premises (i.e., the Existing Premises and the Expansion
Premises). 
 2. Other Improvements. Notwithstanding anything to the contrary contained herein, Tenant shall be responsible for the
cost of any items other than the Tenant Improvements as expressly set forth in Section 1, above, or any additional costs which arise in connection with any revisions, changes or substitutions to the Tenant Improvements
requested by Tenant (the “Non-Conforming Improvements”). In connection therewith, any costs which arise in connection with any such Non-Conforming
Improvements shall be paid by Tenant to Landlord in cash, in advance, upon Landlord’s request. 
 3. Substantial Completion;
Tenant Delays. Landlord shall use reasonable efforts to cause the Tenant Improvements to be Substantially Completed as soon as reasonably practicable. For purposes of the Second Amendment, “Substantial Completion” of the
Tenant Improvements shall occur upon the completion of construction of the Tenant Improvements in the Expansion Premises in good and workmanlike manner, in compliance with all applicable laws (including the issuance of a certificate of occupancy or
its equivalent), pursuant to Landlord’s plans and specifications reasonably approved by Tenant and the passing of all applicable inspections and obtaining all require fire/life-safety sign-offs allowing legal occupancy of the Expansion Premises
for Tenant’s intended use, with the exception of any minor punch list items which will not impair Tenant’s intended use and occupancy of the Expansion Premises and any tenant fixtures, work-stations,
built-in furniture, or equipment to be installed by, or on behalf of, Tenant. (The definition of Substantial Completion shall also include the term “Substantially Completed”). 

  
 B-1 

 Except as provided in this Section 3, the Expansion Premises
Commencement Date shall occur as set forth in Section 3 of the Second Amendment. The term “Date of Substantial Completion” means the date upon which the Tenant Improvements are Substantially Completed,
provided that, notwithstanding anything to the contrary set forth in the Second Amendment or this Construction Rider and regardless of the actual date of the Substantial Completion of the Tenant Improvements, the “Date of Substantial
Completion” shall be the date the Substantial Completion of the Tenant Improvements would have occurred if no Tenant Delay(s) had occurred. The term “Tenant Delay” means a delay in the Substantial Completion of the Tenant
Improvements past the Anticipated Expansion Premises Commencement Date as a direct, indirect, partial, or total result of any of the following: (a) Tenant’s failure to approve any matter requiring Tenant’s approval, or to deliver
Tenant’s approval to Landlord, within three (3) business days, and such failure continuing for one (1) business day following receipt of notice from Landlord regarding such failure; (b) a breach by Tenant of the terms of the
Lease, as amended (beyond the applicable notice and cure period set forth in the Lease); (c) Tenant’s request for changes in the Tenant Improvements; (d) Tenant’s requirement for materials, components, finishes or improvements
which are not available in a commercially reasonable time given the Anticipated Expansion Premises Commencement Date, as set forth in the Second Amendment, or which are different from, or not included in, Landlord’s standard improvement package
items for the Building; (e) Tenant’s delay in the delivery and installation of Tenant’s Trade Fixtures and personal property, performance of IT/networking and electrical work, and moving into the Expansion Premises, as set forth in
Section 4 of the Second Amendment; (f) any material disruption to or interference with the construction of the Tenant Improvements caused by Tenant; and (g) any other delay requested by Tenant. For purposes of
this Section 3, “Tenant Delay” shall also include any action or failure to act by any person employed or engaged by Tenant, including but not limited to Tenant’s contractor(s), or by any agent or
representative of Tenant. 
 4. Construction Coordination Fee. Notwithstanding anything to the contrary contained in the
Existing Lease, Tenant shall have no obligation to pay to Landlord any construction coordination fee in connection with the Tenant Improvements. 

5. Ownership of Tenant Improvements. All Tenant Improvements, whether installed by Landlord or Tenant and whether installed at
Landlord’s or Tenant’s cost, shall become a part of the Expansion Premises, shall be the property of Landlord, and, subject to the provisions of the Lease.(as amended), shall be surrendered by Tenant with the Expansion Premises without any
obligation to remove or restore, without any compensation to Tenant, at the expiration or te1mination of the Lease in accordance with the provisions of the Lease, as amended; provided that any portion of the Tenant Improvements paid for by Tenant
shall remain the property of Tenant during the Term, but shall become the property of Landlord upon expiration or earlier termination of the Lease. During the Term and upon its expiration or earlier termination, Tenant shall not alter or remove from
the Premises any portion of the Tenant Improvements, whether installed or paid for by Landlord or by Tenant, without Landlord’s prior written consent, which may be withheld or conditioned in Landlord’s sole discretion. 

  
 B-2 

 SCHEDULE I 

(TO BE ATTACHED) 

  
 B-3EX-10.17

 Exhibit 10.17 

THIRD AMENDMENT TO LEASE AGREEMENT 

THIS THIRD AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is made as of November 1, 2017 (“Effective Date”),
by and between 21st CENTURY TECHBANQ PASADENA LLC, a California limited liability company (“Landlord”), and ROCKLEY PHOTONICS, INC., a Delaware corporation (“Tenant”). 

R E C I T A L S 
 A.
Landlord and Tenant entered into a Lease, dated as of November 20, 2015 (the “Original Lease”), as amended by that certain First Amendment to Lease Agreement, dated as of April 27, 2016 (the “First Amendment”), and as
further amended by that certain Second Amendment to Lease Agreement, dated as of April 7, 2017 (the “Second Amendment”) (the Existing Lease, First Amendment, and Second Amendment are collectively referred to as the “Lease”),
for the premises consisting of a total of approximately 8,590 rentable square feet, located in the space commonly known at Suites 600 and 610 (approximately 7,678 rentable square feet) and Suite 200 (approximately 912 rentable square feet)
(collectively the “Existing Premises”), on the 6th floor and 2nd floor, respectively, of the office building located at 234 E. Colorado Boulevard, Pasadena, California 91101 (the “Building”). 

B. Tenant desires to expand the Existing Premises to include that certain space consisting of approximately 6,575 rentable square feet, located
in the space commonly known as Suites 500 and 502, and Landlord and Tenant desire to otherwise to amend the Lease as set forth herein. 

T E R M S 
 NOW,
THEREFORE, in consideration of the mutual agreements contained in this Amendment, Landlord and Tenant agree as follows: 
 1.
Incorporation of Recitals. The Recitals set forth above are incorporated herein by reference. 
 2. Definitions. All
capitalized terms used herein, unless otherwise expressly defined in this Amendment, shall have the meanings ascribed to them in the Lease. In the event of any inconsistency between the terms of the Lease and the terms of this Amendment, the terms
of this Amendment shall control. 
 3. Modification of Existing Premises. Effective as of the Additional Expansion Premises
Commencement Date (as defined in Section 4 below), Tenant shall lease from Landlord, and Landlord shall lease to Tenant, a portion of the fifth (5th) floor consisting of approximately 5,352 rentable square feet and located in a portion of the
space commonly known as Suite 500 of 234 E. Colorado Blvd. - Rackley Photonics—Third Amendment to Lease Agreement (execution version) the Building (the “First Additional Expansion Premises”), as shown on Exhibit A attached hereto. On
the first day of the seventh (7th) month following the Additional Expansion Premises Commencement Date, Tenant shall lease from Landlord, and Landlord shall lease to Tenant, a portion of
the fifth (5th floor consisting of approximately 1,223 rentable square feet and located in a portion of the spaces commonly known as Suite 500 and Suite 502 of the Building (the “Second Additional Expansion Premises”), as shown on Exhibit
A attached hereto. The First Additional Expansion Premises and the Second Additional Expansion Premises are collectively referred to as the “Additional Expansion Premises.” 

  
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 4. Additional Expansion Premises Term. The term of Tenant’s lease of the First
Additional Expansion Premises shall commence on the earlier of (a) Tenant’s occupancy of the First Additional Expansion Premises, or (h) the completion of Tenant Improvements (as set forth in Exhibit B below) (the “Additional
Expansion Premises Commencement Date”), provided the Additional Expansion Premises Commencement Date shall commence no later than March 1, 2018. The term of Tenant’s lease of the Second Additional Expansion Premises shall commence on
the first day of the seventh (7th) month following the Additional Expansion Premises Commencement Date. The term of Tenant’s lease of the Additional Expansion Premises shall be sixty four (64) full calendar months (plus any partial month
at the beginning of the term) from the Additional Expansion Premises Commencement Date, and shall expire on the last day of the sixty fourth (64th) month from the Additional Expansion Premises Commencement Date (the “Additional Expansion
Premises Term”). 
 5. Base Rent. 

5.1 Existing Premises. Notwithstanding anything to the contrary in the Lease, Tenant shall continue to pay Base Rent for the Existing
Premises in accordance with the terms of Paragraph 10 of the Basic Lease Information and Section 3.1 of the Original Lease, Section 4 of the First Amendment, and Section 5 of the Second Amendment. 

5.2 Additional Expansion Premises. Commencing on the Additional Expansion Premises Commencement Date, Tenant shall pay Base Rent for the
Additional Expansion Premises as follows; provided, however, that Tenant shall have no obligation to pay Base Rent for the Second Additional Expansion Premises for the first six (6) months following the Additional Expansion Premises
Commencement Date: 
  

											
	 Date
	 	 Annual Base Rent
	 	Monthly
Installment of
Base Rent	 	 	Approximate
Monthly
Rental Rate
per Rental
Square Foot	 
	 Lease Year 1 – (Months 1-6, plus any
partial month)
	 	$107,575.20 (Months 1-6, plus any partial month)	 	$	17,929.20	 	 	 	3.35	 
	 Lease Year 1 - (Months 7-12)*
	 	$132,157.50 (Months 7-12)	 	$	22,026.25	 	 	$	3.35	 
	 Lease Year 2 (Months 13-24)
	 	$272,205.00	 	$	22,683.75	 	 	$	3.45	 
	 Lease Year 3 (Months 25-36)
	 	$280,095.00	 	$	23,341.25	 	 	$	3.55	 
	 Lease Year 4 (Months 37-48)
	 	$288,774.00	 	$	24,064.50	 	 	$	3.66	 
	 Lease Year 5 (Months 49-60)
	 	$297,453.00	 	$	24,787.75	 	 	$	3.77	 
	 Lease Year 6 (Months 61-64)
	 	$331,643.00	 	$	25,511.00	 	 	$	3.88	 

  

	*	 Assumes commencement of the payment of Base Rent for the Second Additional Expansion Premises on the first day
of the seventh (7th) month following the Additional Expansion Premises Commencement Date. 

  
 2 

 For clarity, the changes in Base Rent for the Additional Expansion Premises as set forth in
this Section 5.2 shall occur on the first (1st day of each Lease Year throughout the term of this Amendment. The term “Lease Year” as used herein shall mean each consecutive twelve (12) month period beginning with the Additional
Expansion Premises Commencement Date (or the first day of the next calendar month if the Additional Expansion Premises Commencement Date is other than the first day of the month) and ending one year later, and each subsequent twelve (12) month
period. The first Lease Year shall include the period between the Additional Expansion Premises Commencement Date and the first day of the month following the Additional Expansion Premises Commencement Date if the Additional Expansion Premises
Commencement Date is not the first day of a calendar month. The last Lease Year shall end on the Lease Expiration Date, unless earlier terminated or otherwise extended by Landlord or Tenant. 

6. Base Rent Abatement. Provided Tenant is not in default of the Lease (as hereby amended) beyond all applicable notice and cure
periods, and notwithstanding anything to the contrary in the Lease, then during the period of four (4) months, from the second (2nd) through and including the fifth (5th) full calendar months following the Additional Expansion Premises
Commencement Date (the “Rent Abatement Period”), Tenant shall not be obligated to pay Base Rent for the Additional Expansion Premises during the Rent Abatement Period (the “Rent Abatement”) (i.e., for a total Rent Abatement of
$71,716.80). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Amendment, and for agreement to pay the Base Rent and to perform the terms and conditions
otherwise required under the Lease, including this Amendment. If Tenant shall be in default under the Lease and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to this Lease, then Landlord may
at its option elect, in addition to any other remedies Landlord may have under the Lease, one or both of the remedies set forth in Section 3.2 of the Original Lease. 

  
 3 

 7. Tenant’s Share of Additional Rent; Base Year. 

7.1 Existing Premises. Notwithstanding anything to the contrary in the Lease, Tenant shall continue to pay Tenant’s Share of
Additional Rent for the Existing Premises in accordance with the terms of Section 3.3 of the Original Lease, Section 6 of the First Amendment, and Section 6 of the Second Amendment. 

7.2 Additional Rent for the Additional Expansion Premises. Commencing on the Additional Expansion Premises Commencement Date, Tenant
shall pay Tenant’s Share of Additional Rent for the Additional Expansion Premises in accordance with the terms of Sections 3.3 and 3.4 of the Original Lease; provided, however, that the Base Year shall be calendar year 2018 for the Additional
Expansion Premises. 
 8. Additional Expansion Premises Security Deposit. Concurrently with Tenant’s execution of this Amendment,
Tenant shall deliver to Landlord the sum of Fifty One Thousand Twenty Two and 00/100 Dollars ($51,022.00) to be held by Landlord as security for the faithful performance by Tenant of the terms, covenants and conditions of the Lease, as hereby
amended (the “Additional Expansion Premises Security Deposit”); provided, however, that if Tenant has faithfully performed all of its obligations under the Lease, including this Amendment, and Tenant has not committed any default beyond
any applicable notice and cure period during the Lease Term, then on the first day of the thirty-seventh (37th) month following the Additional Expansion Premises Commencement Date, the Additional Expansion Premises Security Deposit shall be reduced
by Twenty Five Thousand Five Hundred Eleven and 00/100 Dollars ($25,511.00) (the “Additional Expansion Premises Security Deposit Reduction”), and Landlord shall return the Additional Expansion Premises Security Deposit Reduction to Tenant
within thirty (30) days. The Additional Expansion Premises Security Deposit shall be held and applied in accordance with Section 7.1 of the Second Amendment. 

9. Parking. Landlord and Tenant acknowledge and agree that as of the Additional Expansion Premises Commencement Date, Tenant shall be
entitled to lease three (3) unreserved parking passes for every 1,000 rentable square feet of the Additional Expansion Premises. All such parking passes shall be subject to the applicable terms of the Lease including but not limited to Article
35 of the Original Lease, as amended by Section 8 of the First Amendment and Section 8 of the Second Amendment, and Exhibit E to the Original Lease. 

10. Condition of Premises; Tenant Improvements. 

10.1 Condition of Additional Expansion Premises. Tenant hereby accepts the Additional Expansion Premises in its presently existing, “as-is” condition and acknowledges that Landlord has no obligation whatsoever to improve, repair, renovate, restore, refurbish or provide any improvement work or services in or to the Additional Expansion
Premises or to pay for the same, except as provided below in this Section 10.1, and neither Landlord nor any agent of Landlord has made or herein makes any representation or warranty concerning the Additional Expansion Premises, its condition,
or its present suitability for Tenant’s use. Tenant shall construct improvements in the Additional Expansion Premises in accordance with the terms of the Construction Rider attached hereto as Exhibit B. Notwithstanding anything to the contrary
in this Amendment, as of the date of delivery of the Additional Expansion Premises to Tenant, Landlord 

  
 4 

 
shall provide Tenant with a tenant improvement allowance equal to Thirty Two and 50/100 Dollars ($32.50) per rentable square foot of the Additional Expansion Premises (the “Tenant
Improvement Allowance”) to be used for the construction of improvements to the Additional Expansion Premises in accordance with the terms of the Construction Rider; provided, however, that the Tenant Improvement Allowance shall only be used for
third party hard costs of Tenant (specifically excluding soft costs such as costs relating to Tenant’s fixtures, furniture, equipment, personal property, and data cabling). 

11. Use of the Additional Expansion Premises. The Additional Expansion Premises shall be used in accordance with Section 5.1 of the
Lease. 
 12. Expansion Premises Termination. Commencing on the Additional Expansion Premises Commencement Date, Tenant shall have the
right to terminate its lease of the approximately nine hundred twelve (912) rentable square feet in the space commonly known as Suite 200 (the “Expansion Premises”), pursuant to Section 11 of the Second Amendment; provided,
however, that notwithstanding anything to the contrary in the Lease, Tenant shall only be required to give Landlord two (2) weeks written notice that Tenant intends to terminate Tenant’s lease of the Expansion Premises. 

13. Estoppel. Tenant hereby certifies and acknowledges that as of the date hereof (a) Landlord is not in default in any respect
under the Lease, (b) Tenant does not have any defenses to its obligations under the Lease, (c) Landlord is holding the L-C from Tenant in the amount of $207,070.62, and (d) there are no offsets
against rent payable under the Lease. Tenant acknowledges and agrees that: (i) the representations herein set forth constitute a material consideration to Landlord in entering into this Amendment; (ii) such representations are being made
by Tenant for purposes of inducing Landlord to enter into this Amendment; and (iii) Landlord is relying on such representations in entering into this Amendment. 

14. California Accessibility Disclosure. For purposes of Section 1938 of the California Civil Code, Landlord hereby discloses to
Tenant, and Tenant hereby acknowledges that the Building, Existing Premises, and Additional Expansion Premises, have not undergone inspection by a Certified Access Specialist (CASp). Landlord shall have no liability to Tenant arising out of or
related to the fact that the Building, Existing Premises, and Additional Expansion Premises have not been inspected by a Certified Access Specialist (CASp), and Tenant waives all such liability and acknowledges that Tenant shall have no recourse
against Landlord as a result of or in connection therewith. The following disclosure is hereby made pursuant to applicable California law: ”A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject
premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the
lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements for the time and
manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to connect violations of construction-related accessibility standards within the
premises.” Any CASp inspection shall be conducted in compliance with reasonable rules in effect at the Project and shall be subject to Landlord’s prior written consent. 

  
 5 

 15. Extension Option. Tenant shall continue to have the right to the “Extension
Option,” as defined and provided in Article 38 of the Original Lease, Section 11 of the First Amendment, and Section 10 of the Second Amendment, which Extension Option may be exercised with respect to the Existing Premises only. 

Provided Tenant has not assigned this Lease or sublet the Premises or any portion thereof, and provided that Tenant is not in default under
the Lease beyond any applicable notice and cure periods at the time of exercise or at any time thereafter until the beginning of the extension Term, Landlord hereby grants to Tenant the option to extend the Additional Expansion Premises Term (the
”Additional Expansion Premises Option”) for one (1) additional consecutive period of five (5) years (the ”Additional Expansion Premises Extension Period”) for the Additional Expansion Premises only. Tenant’s
exercise of the Additional Expansion Premises Option shall be in accord with Section 38.1 of the Original Lease, and Tenant shall exercise the Additional Expansion Premises Option by giving written notice to Landlord at least ten
(10) months prior to the expiration of the Additional Expansion Premises Term. Tenant’s Base Rent during the Additional Expansion Premises Extension Period shall be equal to the Fair Market Base Rental to be determined pursuant to
Section 38.2 of the Original Lease. 
 16. Brokers. Each party represents and warrants to the other that no broker, agent or
finder negotiated or was instrumental in negotiating or consummating this Amendment other than Cushman & Wakefield representing Landlord (the “Broker”). Landlord shall pay any commission owed to Broker pursuant to a separate
agreement. Tenant warrants and represents to Landlord that in negotiating or making of this Amendment, neither Tenant nor anyone acting on Tenant’s behalf has dealt with any broker or finder who might be entitled to a fee or commission for this
Amendment. Each party shall indemnify and hold the other harmless from any claim or claims including costs, expenses and reasonable attorney’s fees, incurred by the other asserted by any other broker or finder for a fee or commission based upon
any dealings with or statements made by such party or such party’s representatives. 
 17. Ratification; No Further Modification.
Except as set forth in this Amendment, all of the terms, covenants, conditions, provisions and agreements of the Lease shall apply with respect to the Additional Expansion Premises, and the Lease shall remain unmodified and in full force and effect.
This Amendment shall be construed to be part of the Lease and shall be deemed incorporated into the Lease by this reference. 
 18.
Counterparts. This Amendment may be executed in several counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. 

19. Successors and Assigns. Except as specifically modified hereby, all of the terms, covenants and conditions of the Lease shall remain
in full force and effect and shall be binding on the parties hereto, their successors and assigns. 
 [Signatures on following page] 

  
 6 

 IN WITNESS WHEREOF, this Amendment to Lease is made as of the day and year first above
written. 
  

							
		 		 	 LANDLORD:

			
		 		 	21ST CENTURY TECHBANQ PASADENA, LLC,
	WITNESS	 		 	a California limited liability company
				
	  
	 		 	By:	 	 /s/ Wu Juanling

		 		 		 	Name: Wu Juanling
		 		 		 	Title: President
			
	WITNESS:	 		 	TENANT:
		 		 	ROCKLEY PHOTONICS, INC.,
		 		 	a Delaware corporation
				
	 /s/ Diane Wallace
	 		 	By:	 	 /s/ Amit Nagra

		 		 		 	Name: Amit Nagra
		 		 		 	Title: Chief Operating Officer

  
 7 

 EXHIBIT A 

SITE PLAN OF ADDITIONAL EXPANSION PREMISES 
  

 

  
 8 

 EXHIBIT B 

CONSTRUCTION RIDER 
 1. Tenant
Improvements. Tenant shall with reasonable diligence through a general contractor designated by Tenant and approved by Landlord (which contractor may be an affiliate of Landlord) construct and install in the Additional Expansion Premises the
improvements and fixtures provided for in this Construction Rider (“Tenant Improvements”). All of the Tenant Improvements shall be constructed and installed at Tenant’s sole cost and expense and Landlord shall have no
obligation to construct any tenant improvements or alterations in the Additional Expansion Premises; provided, however, that Landlord shall contribute to the cost of Tenant Improvements described herein the Tenant Improvement Allowance set forth in
Section 10.1 of this Amendment and Section 1.3 of this Construction Rider, and Landlord shall, at Landlord’s sole cost and expense, renovate the restroom serving the Additional Expansion Premises in compliance with all applicable
laws, including but not limited to the Americans with Disabilities Act, with the scope of such renovation, materials used, and timing of completion to be determined by Landlord in its reasonable discretion. Landlord and Tenant each shall designate
in writing an individual authorized to act as a representative of each respective party with respect to all approvals, directions and authorizations pursuant to this Construction Rider. 

1.1 Plans. 
 1.1.1
Space Plan; Construction Documents. The Tenant Improvements shall be constructed substantially as shown on the plans for the Additional Expansion Premises prepared by the space planner retained by Tenant as the space planner for the
Additional Expansion Premises (“Space Planner”), which space plan shall be promptly delivered to Landlord for Landlord’s review and prior approval prior to the commencement of construction of Tenant Improvements (the
“Space Plan”). Tenant shall also retain engineering consultants reasonably approved by Landlord (the “Engineers”) (such approval not to be unreasonably withheld, conditioned, or delayed), to prepare all plans and
engineering construction documents relating to the structural, mechanical, electrical, plumbing, HVAC, life safety, and sprinkler work in the Additional Expansion Premises. The plans and drawings to be prepared by the Engineers and the Space Plan to
be prepared by the Space Planner may collectively be referred to as the “Construction Documents.” 
 1.1.2 Construction
Documents. Tenant shall promptly cause the Space Planner and the Engineers to complete the architectural and engineering drawings for the Additional Expansion Premises, and the Space Planner shall compile a fully coordinated set of
architectural, structural, mechanical, electrical and plumbing Construction Documents in a form which is complete to allow subcontractors to bid on the work and to obtain all applicable permits (collectively, the “Final Construction
Documents”) and shall submit the same to Landlord for Landlord’s approval. Tenant shall supply Landlord with two (2) copies signed by Tenant of such Final Construction Documents. Landlord shall, within five (5) business days
after Landlord’s receipt of the Final Construction Documents, either (i) approve the Final Construction Documents, (ii) approve the Final Construction Documents subject to specified conditions to be satisfied by Tenant prior to
submitting the approved Final Construction Documents for permits as set forth below, if the Final Construction Documents are inconsistent with the Space Plan, or 

  
 9 

 
(iii) disapprove and return the Final Construction Documents to Tenant with requested revisions if the Final Construction Documents are inconsistent with the Space Plan. If Landlord
disapproves the Final Construction Documents, Tenant may resubmit the Final Construction Documents to Landlord at any time, and Landlord shall approve or disapprove of the resubmitted Final Construction Documents, based upon the criteria set forth
in this Section 1.1.2 within three (3) business days after Landlord receives such resubmitted Final Construction Documents. 

Once approved by Landlord as set forth above, the Final Construction Documents shall be referred to as the “Approved Construction
Documents,” and such Final Construction Documents shall be so approved by Landlord prior to the commencement of construction of the Additional Expansion Premises by Tenant. After approval by Landlord of the Final Construction Documents,
Tenant shall cause the Space Planner to submit the Approved Construction Documents to the appropriate municipal authorities for all architectural and structural permits (the “Permits”), provided that (a) the Space Planner shall
provide Landlord with a copy of the package that it intends to submit prior to such submission, and (b) if there are Building modifications required to obtain the Permits, then Tenant shall obtain Landlord’s prior written consent to any
such Building modifications. Tenant hereby agrees that neither Landlord nor Landlord’s consultants shall be responsible for obtaining any certificate of occupancy (or other documentation or approval allowing Tenant to legally occupy the
Additional Expansion Premises) for the Additional Expansion Premises and that obtaining the same shall be Tenant’s responsibility; provided, however, that Landlord shall cooperate with Tenant in performing ministerial acts reasonably necessary
to enable Tenant to obtain any such certificate of occupancy (or other documentation or approval allowing Tenant to legally occupy the Additional Expansion Premises). No changes, modifications or alterations in the Approved Construction Documents
may be made without the prior written consent of Landlord, which consent may not be unreasonably withheld or delayed. 
 1.2 Construction
of Tenant Improvements. 
 1.2.1 Contractor; Tenant’s Representatives. Tenant shall retain a qualified and licensed general
contractor selected by Tenant in Tenant’s reasonable discretion and approved by Landlord (which approval shall not be unreasonably delayed, conditioned or withheld) (the “Contractor”) for the construction of the Tenant
Improvements, which Contractor shall be a qualified, reputable, general contractor experienced in class A office building tenant improvement construction in the greater Los Angeles area. The Space Planner, Engineers, Contractor, other contractors,
subcontractors, consultants, laborers, vendors, and material suppliers retained and/or used by Tenant in connection with the Tenant Improvements shall be known collectively as “Tenant’s Representatives.” 

1.2.2 Construction Contract; Final Cost Estimate. Prior to commencement of construction, Tenant shall submit a copy of the executed
contract with the Contractor for the construction of Tenant Improvements, including the general conditions with Contractor (the “Contract”) to Landlord for its records. Prior to the commencement of the construction of Tenant Improvements,
and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with (i) a detailed breakdown, by trade, for all of Tenant’s Representatives, of the final estimated costs to be incurred or
which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the “Final Cost Estimate”), which costs shall include, but not be
limited to, the costs of the Space Planner’s and Engineers’ fees and the Landlord construction coordination fee as set forth in Section 2 below. 

  
 10 

 1.2.3 Construction. Upon Tenant’s receipt of Approved Construction Documents
and Permits, Tenant shall proceed with reasonable diligence to cause the Tenant Improvements to be Substantially Completed as soon as reasonably practicable following the Additional Expansion Premises Delivery Date. The Tenant Improvements shall be
deemed to be “Substantially Completed” when they have been completed in accordance with the Approved Construction Documents except for finishing details, minor omissions, decorations and mechanical adjustments of the type normally
found on an architectural “punch list.” (The definition of Substantially Completed shall also define the terms “Substantial Completion” and “Substantially Complete.”) 

Following Substantial Completion of the Tenant Improvements, Tenant shall inspect the Additional Expansion Premises and prepare a “punch
list” of agreed items of construction remaining to be completed. Tenant shall complete the items set forth in the punch list as soon as reasonably possible. 

1.2.4 Indemnity; Insurance. Tenant’s indemnity of Landlord as set forth in Article 10 of the Lease shall also apply with respect
to any and all costs, losses, damages, injuries and liabilities related in any way to any act or omission of Tenant or Tenant’s Representatives, or anyone directly or indirectly employed by any of them, or in connection with Tenant’s non-payment of any amount arising out of the Tenant Improvements. All of Tenant’s Representatives shall carry worker’s compensation insurance covering all of their respective employees, and shall also
carry commercial general liability insurance, including property damage, all with limits, in form and with companies as are required to be carried by Tenant as set forth in Article 11 of the Lease, and the policies therefor shall insure Landlord and
Tenant, as their interests may appear, as well as the Contractor and subcontractors. Additionally, Tenant or Contractor shall also carry “Builder’s All Risk” insurance in an amount approved by Landlord, which shall in no event be less
than the amount actually carried by Tenant or Contractor, covering the construction of the Tenant Improvements, and such other insurance as Landlord may require, it being understood and agreed that the Tenant Improvements shall be insured by Tenant
pursuant to Article 11 of the Lease immediately upon completion thereof. Such insurance shall be in amounts and shall include such extended coverage endorsements as may be reasonably required by Landlord. 

1.3 Cost of Tenant Improvements. As set forth in Section 10.1 of this Amendment, Landlord shall contribute a one-time Tenant Improvement Allowance in the amount equal to Thirty-Two and 50/100 Dollars ($32.50) per rentable square foot of the Additional Expansion Premises toward third
party hard costs for the construction of Tenant Improvements (specifically excluding soft costs such as costs relating to Tenant’s fixtures, furniture, equipment, personal property, and data cabling). Landlord shall only be obligated to make
disbursements from the Tenant Improvement Allowance to the extent costs are incurred by Tenant for the Tenant Improvements. The Tenant Improvement Allowance shall be paid to Tenant within ten (10) business days of the date that Tenant has
provided to Landlord an invoice(s) from Tenant’s contractor in an amount at least equal to the Tenant Improvement Allowance, and lien waiver(s) in connection therewith. In the event that Landlord has failed to pay to Tenant, when due, any

  
 11 

 
portion of the Tenant Improvement Allowance, Tenant shall provide to Landlord written notice thereof. If Landlord’s failure to pay continues for fifteen (15) business days following
such first written notice, Tenant may offset the amount of the Tenant Improvement Allowance due to Tenant from Rent due to Landlord. Such offset shall end when Tenant has offset the full amount of the Tenant Improvement Allowance owed to Tenant.

 The balance, if any, of the cost of the Tenant Improvements (“Additional Cost”), including, but not limited to, soft
costs, usual markups for overhead, supervision and profit, shall be paid by Tenant, with all payments made by Tenant directly to Tenant’s Representatives, and such payment by Tenant shall be a condition to Landlord’s obligation to pay any
amounts of the Tenant Improvement Allowance. 
 1.4 Changes. If Tenant requests any material change, addition or alteration in or to
any Approved Construction Documents (“Changes”) Tenant shall (i) inform the Landlord of the desired Changes and obtain Landlord’s written approval thereof which shall be granted or withheld in accordance with the terms of
Section 1.1.2 within no more than three (3) business days after the date of Tenant’s request for approval (and if Landlord has not responded within such three (3)-day period, such request for a
Change shall be deemed approved); (ii) following Landlord’s approval of Changes, cause the Space Planner to prepare additional plans implementing such Changes; and (iii) promptly pay the cost of preparing additional plans directly to the
Space Planner. 
 2. Construction Coordination Fee. Tenant shall pay to Landlord the construction coordination fee in accordance with
the terms of Section 6.3 of the Lease. 
 3. Ownership of Tenant Improvements. All Tenant Improvements, whether installed by
Landlord or Tenant and whether installed at Tenant’s cost or with the use of the Tenant Improvement Allowance, shall become a part of the Additional Expansion Premises, shall be the property of Landlord and, subject to the provisions of the
Lease, shall be surrendered by Tenant with the Additional Expansion Premises, without any compensation to Tenant, at the expiration or termination of the Lease in accordance with the provisions of the Lease. 

  
 12

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