Document:

iova_Ex10_1

		
			Exhibit 10.1
		

		
			FIRST AMENDMENT
		

		
			 
		

		
			THIS FIRST AMENDMENT (this “Amendment”) is made and entered into on June 19th, 2019, by and between HUDSON SKYWAY LANDING, LLC, a Delaware limited liability company (“Landlord”), and IOVANCE BIOTHERAPEUTICS, INC., a Delaware corporation (“Tenant”).
		

		
			 
		

		
			RECITALS
		

		
			 
		

		
			A.          Landlord and Tenant are parties to that certain lease dated October 19, 2018 (the “Lease”).  Pursuant to the Lease, Landlord has leased to Tenant space currently containing approximately 12,322 rentable square feet (the “Existing Premises”) described as Suite 125 on the first floor of the building commonly known as Skyway Landing II located at 999 Skyway Road, San Carlos, California (the “Building”).
		

		
			 
		

		
			B.          The parties wish to expand the Premises (defined in the Lease) to include additional space, containing approximately 8,110 rentable square feet described as Suite 100 on the first floor of the Building and shown on Exhibit A attached hereto (the “Expansion Space”), on the following terms and conditions.
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the above recitals which by this reference are incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:
		

		
			 
		

		
			1.          Expansion.
		

		
			 
		

		
			1.1.       Effect of Expansion.  Effective as of the Expansion Effective Date (defined in Section 1.2 below), the Premises shall be increased from 12,322 rentable square feet on the first floor to 20,432 rentable square feet on the first floor by the addition of the Expansion Space, and, from and after the Expansion Effective Date, the Existing Premises and the Expansion Space shall collectively be deemed the Premises.  The term of the Lease for the Expansion Space (the “Expansion Term”)  shall commence on the Expansion Effective Date and, unless sooner terminated in accordance with the Lease, end on the Expiration Date (which the parties acknowledge is April 30, 2021).  From and after the Expansion Effective Date, the Expansion Space shall be subject to all the terms and conditions of the Lease except as provided herein.  Except as may be expressly provided herein, (a) Tenant shall not be entitled to receive, with respect to the Expansion Space, any allowance, free rent or other financial concession granted with respect to the Existing Premises, and (b) no representation or warranty made by Landlord with respect to the Existing Premises shall apply to the Expansion Space.
		

		
			 
		

		
			1.2.       Expansion Effective Date.  As used herein, “Expansion Effective Date” means the date on which Landlord delivers to Tenant the Expansion Space in broom clean condition (which date is anticipated to be June 1, 2019).  Any delay in the Expansion Effective Date shall not subject Landlord to any liability for any loss or damage resulting therefrom.  If the Expansion Effective Date is delayed, the Expiration shall not be similarly extended.
		

		
			 
		

		
			1.3.       Confirmation Letter.  At any time after the Expansion Effective Date, Landlord may deliver to Tenant a notice substantially in the form of Exhibit C attached hereto, as a confirmation of the information set forth therein.  Tenant shall execute and return (or, by written notice to Landlord, reasonably object to) such notice within five (5) days after receiving it.
		

		
			 
		

		
			
		

		
			

		 

		

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			2.          Base Rent.  With respect to the Expansion Space during the Expansion Term, the schedule of Base Rent shall be as follows:
		

		
			 
		

			
					
						Period During Expansion
Term

					
					
						Annual Rate Per Square
Foot (rounded to the
nearest 100th of a dollar)

					
					
						Monthly Base Rent

				
	
					
						Expansion Effective Date through last day of 12th full calendar month of Expansion Term

					
					
						$57.00

					
					
						$38,522.50

				
	
					
						13th full calendar month of Expansion Term through last day of Expansion Term

					
					
						$58.71

					
					
						$39,678.18

				

		
			 
		

		
			All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease.
		

		
			 
		

		
			3.          Additional Security Deposit.  No additional Security Deposit shall be required in connection with this Amendment.
		

		
			 
		

		
			4.          Tenant’s  Share.  With respect to the Expansion Space during the Expansion Term, Tenant’s  Share shall be 6.8441%.
		

		
			 
		

		
			5.          Expenses and Taxes.  With respect to the Expansion Space during the Expansion Term, Tenant shall pay for Tenant’s  Share of Expenses and Taxes  in accordance with the terms of the Lease.
		

		
			 
		

		
			6.          Improvements to Expansion Space.
		

		
			 
		

		
			6.1.       Configuration and Condition of Expansion Space.  Tenant acknowledges that it has inspected the Expansion Space and agrees to accept it in its existing configuration and condition (or in such other configuration and condition as any existing tenant of the Expansion Space may cause to exist in accordance with its lease), without any representation by Landlord regarding its configuration or condition and without any obligation on the part of Landlord to perform or pay for any alteration or improvement, except as may be otherwise expressly provided in this Amendment.
		

		
			 
		

		
			6.2.       Responsibility for Improvements to Expansion Space.  Any improvements to the Expansion Space performed by or on behalf of Tenant on or after the Expansion Effective Date shall be paid for by Tenant (subject to the Allowance described in Section 1.1 of Exhibit B-1 to the Lease as incorporated herein by this reference)  and performed in accordance with the terms of the Lease (including, without limitation, Exhibit B-1 thereto, as amended hereby).  The parties further acknowledge and agree that each reference to “Premises” in Exhibit B-1 to the Lease shall be deemed to mean both (a) the Existing Premises and (b) the Expansion Space (from and after the Expansion Effective Date).  Landlord hereby acknowledges that, as of the date hereof, the current amount of the Allowance available for application towards the cost of Tenant Improvement Work in the Existing Premises and the Expansion Space pursuant to Exhibit B-1 to the Lease (as amended hereby) is $147,864.00.
		

		
			 
		

		
			7.          Other Pertinent Provisions.  Landlord and Tenant agree that, effective as of the date of this Amendment (unless different effective date(s) is/are specifically referenced in this Section), the Lease shall be amended in the following additional respects:
		

		
			 
		

		
			7.1.       Parking.  Effective as of the Expansion Effective Date, the reference to “40 unreserved parking spaces” in Section 1.9 of the Lease is hereby amended and restated as “67 unreserved parking spaces”.
		

		
			 
		

		
			7.2.       California Civil Code Section 1938.  Pursuant to California Civil Code § 1938, Landlord hereby states that the Expansion Space has not undergone inspection by a Certified Access Specialist (CASp) (defined in California Civil Code § 55.52).
		

		
			 
		

		
			Accordingly, pursuant to California Civil Code § 1938(e), Landlord hereby further
		

		
			
		

		
			

		 

		

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			states as follows:  “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 correct violations of construction-related accessibility standards within the premises”.
		

		
			 
		

		
			In accordance with the foregoing, Landlord and Tenant agree that if Tenant requests a CASp inspection of the Expansion Space, then (i) Tenant shall pay the fee for such inspection, and (ii) the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the Expansion Space shall be governed by the applicable terms of the Lease (including, without limitation, Section 5 thereof).
		

		
			 
		

		
			7.3.       Right of First Offer.  The following provisions of the Lease are of no further force and effect:  Section 3.1.A (2) of Exhibit F to the Lease and the second diagram on Exhibit G to the Lease.
		

		
			 
		

		
			8.          Miscellaneous.
		

		
			 
		

		
			8.1.       This Amendment sets forth the entire agreement between the parties with respect to the matters set forth herein.  There have been no additional oral or written representations or agreements.  Tenant shall not be entitled, in connection with entering into this Amendment, to any free rent, allowance, alteration, improvement or similar economic incentive to which Tenant may have been entitled in connection with entering into the Lease, except as may be otherwise expressly provided in this Amendment.
		

		
			 
		

		
			8.2.       Except as herein modified or amended, the provisions, conditions and terms of the Lease shall remain unchanged and in full force and effect.
		

		
			 
		

		
			8.3.       In the case of any inconsistency between the provisions of the Lease and this Amendment, the provisions of this Amendment shall govern and control.
		

		
			 
		

		
			8.4.       Submission of this Amendment by Landlord is not an offer to enter into this Amendment but rather is a solicitation for such an offer by Tenant.  Landlord shall not be bound by this Amendment until Landlord has executed and delivered it to Tenant.
		

		
			 
		

		
			8.5.       Capitalized terms used but not defined in this Amendment shall have the meanings given in the Lease.
		

		
			 
		

		
			8.6.       Tenant shall indemnify and hold Landlord, its trustees, members, principals, beneficiaries, partners, officers, directors, employees, mortgagee(s) and agents, and the respective principals and members of any such agents harmless from all claims of any brokers claiming to have represented Tenant in connection with this Amendment.  Landlord shall indemnify and hold Tenant, its trustees, members, principals, beneficiaries, partners, officers, directors, employees, and agents, and the respective principals and members of any such agents harmless from all claims of any brokers claiming to have represented Landlord in connection with this Amendment.  Tenant acknowledges that any assistance rendered by any agent or employee of any affiliate of Landlord in connection with this Amendment has been made as an accommodation to Tenant solely in furtherance of consummating the transaction on behalf of Landlord, and not as agent for Tenant.
		

		
			 
		

		
			[SIGNATURES ARE ON FOLLOWING PAGE]
		

		
			
		

		
			

		 

		

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			IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment as of the day and year first above written.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						LANDLORD:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						HUDSON SKYWAY LANDING, LLC, a Delaware limited liability company

					
						 

					
						By:        Hudson Pacific Properties, L.P.,
a Maryland limited partnership,
its sole member

					
						 

					
						By:        Hudson Pacific Properties, Inc.,
a Maryland corporation,
its general partner

					
						 

					
						By:        /s/ Derric DuBourdieu

					
						Name:   Derric DuBourdieu

					
						Title:     Senior Vice President, Leasing____

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						TENANT:

				
	
					
						 

					
					
						 

					
						IOVANCE BIOTHERAPEUTICS, INC., a Delaware corporation

					
						 

					
						By:        /s/ Maria Fardis

					
						Name:   Maria Fardis, Ph.D., M.B.A.

					
						Title:     President and Chief Executive Officer

				

		
			 
		

		
			 
		

		
			

		 

		

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			EXHIBIT A
		

		
			 
		

		
			OUTLINE AND LOCATION OF EXPANSION SPACE
		

		
			 
		

		
			
		

		
			 
		

		
			 
		

		
			

		 

		

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			EXHIBIT B
		

		
			 
		

		
			WORK LETTER
		

		
			 
		

		
			Intentionally Omitted
		

		
			 
		

		
			 
		

		
			

		 

		

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			EXHIBIT C
		

		
			 
		

		
			NOTICE OF LEASE TERM DATES
		

		
			_____________________, 20__
		

		
			To:        _______________________
_______________________
_______________________
_______________________
		

		
			Re:        First Amendment (the “Amendment”), dated ______________, 2019, to a lease agreement dated October 19, 2018, between HUDSON SKYWAY LANDING, LLC, a Delaware limited liability company (“Landlord”), and IOVANCE BIOTHERAPEUTICS, INC., a Delaware corporation  (“Tenant”), concerning Suite 100 on the first floor of the building located at 999 Skyway Landing, San Carlos, California (the “Expansion Space”).
		

		
			Dear _________________:
		

		
			In accordance with the Amendment, Tenant accepts possession of the Expansion Space and confirms that the Expansion Effective Date is _____________, 20___.
		

		
			Please acknowledge the foregoing by signing all three (3) counterparts of this letter in the space provided below and returning two (2) fully executed counterparts to my attention.  Please note that, under Section 1.3 of the Amendment, Tenant is required to execute and return (or reasonably object in writing to) this letter within five (5) days after receiving it.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						“Landlord”:

HUDSON SKYWAY LANDING, LLC, a Delaware limited liability company

					
						 

					
						By:        Hudson Pacific Properties, L.P.,
a Maryland limited partnership,
its sole member

					
						 

					
						By:    Hudson Pacific Properties, Inc.,
a Maryland corporation,
its general partner

					
						 

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Title:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Agreed and Accepted as
of                , 20   .

					
						 

					
						“Tenant”:

IOVANCE BIOTHERAPEUTICS, INC., a Delaware corporation

					
						 

					
					
						 

				
	
					
						By:

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						 

					
					
						 

				
	
					
						Title:iova_Ex10_2

		
			Exhibit 10.2
		

		
			FIRST AMENDMENT TO LEASE AGREEMENT
		

		
			This FIRST AMENDMENT TO LEASE AGREEMENT is dated as of the 20th day of August, 2019, by and between 300 Rouse Boulevard, LLC, a Delaware limited liability company (“Landlord”) and IOVANCE BIOTHERAPEUTICS, INC., a Delaware corporation (“Tenant”).
		

		
			WHEREAS, Landlord and Tenant are parties to that certain Lease Agreement dated May 28, 2019 (the “Lease”) respecting certain premises located at 300 Rouse Boulevard, Philadelphia, Pennsylvania, as more particularly described in the Lease; and
		

		
			WHEREAS, Landlord and Tenant now desire to amend the Lease as more particularly set forth below.
		

		
			NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereby amend the Lease as follows:
		

		
			1.         Modification to Key Man Provision.  Section 39 of the Lease is hereby deleted and replaced in its entirety with the following:
		

		
			“39.            Key Man Provision.  Landlord acknowledges that GDP 300 Rouse Boulevard Manager, LLC (“GDP”) holds an indirect ownership interest in Landlord and serves as the indirect managing member of Landlord, and that John S. Gattuso (“Gattuso”) is a principal in GDP. Landlord agrees that for a period of not less than eighteen (18) months after the Commencement Date (i) GDP shall continue to hold an indirect ownership interest in Landlord, (ii) Gattuso shall continue to be a principal in GDP, and (iii) GDP shall continue to be the indirect managing member of Landlord. The forgoing provisions shall be subject to (and not apply in the event of) the death or incapacity of Gattuso, or the removal of GDP as the indirect managing member of Landlord for cause.”
		

		
			2.         Definition of Additional Rent.  As used in the Lease, the term “Additional Rent” means all amounts payable by Tenant to Landlord under the Lease, other than Minimum Annual Rent.
		

		
			3.         Amendment to Section 33.  The following sentence is added to the end of Section 33 of the Lease:
		

		
			“Landlord shall work cooperatively with Tenant to assist Tenant in making such filings and taking such other actions as may be necessary for Tenant to take full advantage, to the extent provided by Law, of the Keystone Opportunity Improvement Zone.  Tenant agrees to reimburse Landlord for Landlord’s reasonable and actual pre-approved third party expenses incurred by Landlord in providing such assistance.”
		

		
			4.         Confirmation of Lease Term.  On or after the Commencement Date, Tenant agrees, upon the written notice of Landlord in conformity with the notice requirements of the Lease, to
		

		
			
		

		
			

		 

		

		
			 
		

		
			confirm in writing the Commencement Date, the Expiration Date, that Tenant has taken possession of the Premises (subject, if applicable, to any ongoing Tenant’s Work), and such other matters directly related thereto as Landlord may reasonably request, provided that such written confirmation shall not in any way be deemed to alter, waive or amend Tenant’s rights or remedies under the Lease.
		

		
			5.         Ratification of Certain Remedies.  Section 22 of the Lease provides, under certain circumstances, for the remedy of confession of judgment against the Tenant for ejectment.  In order to confirm and ratify such remedy, Tenant restates the same in its entirety as follows:
		

		
			(a)  WHEN THIS LEASE AND THE TERM OR ANY EXTENSION THEREOF SHALL HAVE BEEN TERMINATED ON ACCOUNT OF ANY DEFAULT BY TENANT, OR WHEN THE TERM OR ANY EXTENSION THEREOF SHALL HAVE EXPIRED, TENANT HEREBY AUTHORIZES ANY ATTORNEY OF ANY COURT OF RECORD OF THE COMMONWEALTH OF PENNSYLVANIA TO APPEAR FOR TENANT AND FOR ANYONE CLAIMING BY, THROUGH OR UNDER TENANT AND TO CONFESS JUDGMENT AGAINST ALL SUCH PARTIES, AND IN FAVOR OF LANDLORD, IN EJECTMENT AND FOR THE RECOVERY OF POSSESSION OF THE PREMISES, FOR WHICH THIS LEASE OR A TRUE AND CORRECT COPY HEREOF SHALL BE GOOD AND SUFFICIENT WARRANT.  AFTER THE ENTRY OF ANY SUCH JUDGMENT A WRIT OF POSSESSION MAY BE ISSUED THEREON WITHOUT FURTHER NOTICE TO TENANT AND WITHOUT A HEARING.  IF FOR ANY REASON AFTER SUCH ACTION SHALL HAVE BEEN COMMENCED IT SHALL BE DETERMINED AND POSSESSION OF THE PREMISES REMAIN IN OR BE RESTORED TO TENANT, LANDLORD SHALL HAVE THE RIGHT FOR THE SAME DEFAULT AND UPON ANY SUBSEQUENT DEFAULT(S) OR UPON THE TERMINATION OF THIS LEASE OR TENANT'S RIGHT OF POSSESSION AS HEREIN SET FORTH, TO AGAIN CONFESS JUDGMENT AS HEREIN PROVIDED, FOR WHICH THIS LEASE OR A TRUE AND CORRECT COPY HEREOF SHALL BE GOOD AND SUFFICIENT WARRANT.
		

		
			 Initials on behalf of Tenant: ____
		

		
			(b)  THE WARRANT TO CONFESS JUDGMENT SET FORTH ABOVE SHALL CONTINUE IN FULL FORCE AND EFFECT AND BE UNAFFECTED BY AMENDMENTS TO THIS LEASE OR OTHER AGREEMENTS BETWEEN LANDLORD AND TENANT EVEN IF ANY SUCH AMENDMENTS OR OTHER AGREEMENTS INCREASE TENANT'S OBLIGATIONS OR EXPAND THE SIZE OF THE PREMISES.
		

		
			
		

		
			

		 

		

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			(c)  TENANT EXPRESSLY AND ABSOLUTELY KNOWINGLY WAIVES AND RELEASES (i) ANY RIGHT, INCLUDING, WITHOUT LIMITATION, UNDER ANY APPLICABLE STATUTE, WHICH TENANT MAY HAVE TO RECEIVE A NOTICE TO QUIT PRIOR TO LANDLORD COMMENCING AN ACTION FOR REPOSSESSION OF THE PREMISES AND (ii) ANY RIGHT WHICH TENANT MAY HAVE TO NOTICE AND TO HEARING PRIOR TO A LEVY UPON OR ATTACHMENT OF TENANT'S PROPERTY OR THEREAFTER AND (iii) ANY PROCEDURAL ERRORS IN CONNECTION WITH THE ENTRY OF ANY SUCH JUDGMENT OR IN THE ISSUANCE OF ANY ONE OR MORE WRITS OF POSSESSION OR EXECUTION OR GARNISHMENT THEREON.
		

		
			Initials on behalf of Tenant:____
		

		
			6.         Miscellaneous.
		

		
			(a)        Except as expressly modified herein, the Lease shall continue unmodified and remain in full force and effect in accordance with its terms.
		

		
			(b)        The respective rights and obligations provided in this Amendment shall bind and inure to the benefit of the parties hereto, their permitted successors and assigns under the Lease.
		

		
			(c)        This Amendment shall be construed, governed, and enforced in accordance with the laws of the Commonwealth of Pennsylvania, without regard to principles relating to conflicts of law.
		

		
			(d)        This Amendment may be executed in any number of counterparts, each of which when taken together shall be deemed to be one and the same instrument.  The parties acknowledge and agree that notwithstanding any law or presumption to the contrary a facsimile or electronically delivered Portable Document Format (.pdf) (or similar electronic format) signature of either party whether upon this Amendment shall be deemed valid and binding and admissible by either party against the other as if the same were an original ink signature.
		

		
			 (Signatures continued on next page)
		

		
			 
		

		
			
		

		
			

		 

		

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			IN WITNESS WHEREOF, intending to be legally bound, Landlord and Tenant have executed this First Amendment to Lease Agreement as of the date first above written.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						Landlord:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						300 ROUSE BOULEVARD, LLC

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ John S. Gattuso

				
	
					
						 

					
					
						Name: John S. Gattuso

				
	
					
						 

					
					
						Title: Authorized Signatory

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Tenant:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						IOVANCE BIOTHERAPEUTICS, INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ Frederick G. Vogt

				
	
					
						 

					
					
						Name: Frederick G. Vogt

				
	
					
						 

					
					
						Title: General Counsel and Corporate Secretary

				

		
			 
		

		 

		

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