Document:

Third Amendment to Office Lease

 Exhibit 10.12 
 AMENDMENT #3 
 This Amendment #3 to Lease is made on November 11, 2010 between
SUNTREE GARDEN, LLC (“Lessor”) and SORRENTO THERAPEUTICS, INC., A DELAWARE CORPORATION (“Lessee”). 
  

	I.	Recital: This amendment of lease is made with reference to the following facts and objectives: 

 

	 	A.	Sorrento Therapeutics, Inc. a Delaware corporation (Tenant) and SUNTREE GARDEN. LLC (Landlord) are parties to that certain original lease made and entered into as of
July 28, 2009, as amended on August 1, 2009, and on October 1, 2009, relating to the Premises located in the Building at 6042 Cornerstone Court West, San Diego, CA 92121 (collectively, the “Lease”) 

 

	 	B.	The parties to the Lease desire to amend the Lease to add additional space. 

 

	 	C.	Now, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree and modify the Lease as follows:

  

	II.	Increase in premise: The premises subject to the Lease shall be increased by approximately 1,455 square feet (“Additional Space”) by including the space
directly behind the second floor space currently occupied by Lessee. 

  

	III.	The rent for the Additional Space shall be five hundred ($500.00) per month. Lessee will pay for gas and electricity charges for such Additional Space. There shall be
no common area maintenance (CAM) charge for the Additional Space. 

  

	IV.	The Lease term of the Additional Space shall be 18 months, commencing on December 1, 2010. 

 

	V.	Lessee takes the Additional Space in “as is” condition. 

  

	VI.	Effectiveness of Lease: Except as set forth in this executed Amendment #3 to the Lease, all other terms and conditions of the Lease shall continue in full force and
effect. 

 In witness thereof, the parties hereto execute this Amendments #3 on the dates indicated below: 

 

									
	Lessor	 		 	Lessee
			
	SUNTREE GARDEN, LLC.	 		 	SORRENTO THERAPEUTICS, INC., a Delaware
Corporation
					
	By:	 	/s/ David Wen	 		 	By:	 	 /s/ Henry Ji

	Title:	 	Managing Member	 		 	Title:	 	Chief Scientific Officer
	Date:	 	11/12/2010	 		 	Date:	 	11/12/2010Fourth Amendment to Office Lease

 Exhibit 10.13 
 AMENDMENT #4 
 This amendment of lease is made on January 17, 2011 between SUNTREE
GARDENS, LLC (“Lessor”) and SORRENTO THERAPEUTICS, INC., A DELAWARE CORPORATION (“Lessee”). 
  

	I.	Recital: This amendment of lease is made with reference to the following facts and objectives: 

 

	 	A.	Sorrento Therapeutics, Inc., a Delaware Corporation (Lessee), and Suntree Garden, LLC (Landlord) are parties to that certain lease made and entered into as of
July 28, 2009 (“Original Lease”), and amended on August 1, 2009 (First Amendment), and on October 1, 2009 (Amendment #2), and amended on November 11, 2010 (Amendment #3) relating to the Premises located in the Building
at 6042 Cornerstone Court West, San Diego, CA 92121. 

  

	 	B.	The parties to the lease desire to amend the lease to add additional space. 

 

	 	C.	Now, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree and modify the lease as follows:

  

	II.	Increase in premise: The premises was increased by approximately 1,455 square feet in Amendment #3 (the “Initial Additional Space”). The parties desire to
increase the premises further by approximately 626 square feet in this Amendment #4 (the “Additional Space”). The “Combined Additional Space” is therefore revised to be 2,081 square feet. 

 

	III.	The lease term for the Combined Additional Space shall be 44 months, (a) commencing on the later to occur of (i) February 1, 2011 and (ii) the
substantial completion of Tenant Improvements (as defined below) to Lessee’s reasonable satisfaction, and (b) terminating on September 30, 2014. 

 

	IV.	The base rent structure for the Combined Additional Space is: 

  

									
	 Period
	  	Base rent per SF	 	  	Monthly Base Rent	 
	 2/1/2011* – 9/30/2011
	  	$	1.03	  	  	$	2,143.43	  
	 10/1/2011 – 9/30/2012
	  	$	1.06	  	  	$	2,205.86	  
	 10/1/2012 – 9/30/2013
	  	$	1.09	  	  	$	2,268.29	  
	 10/1/2013 – 9/30/2014
	  	$	1.12	  	  	$	2,330.72	  

  

	*	Contingent upon the substantial completion of Tenant Improvements to Lessee’s reasonable satisfaction. 

 

	V.	Lessee’s share of Operating Expense shall be increased to include the Combined Additional Space. 

  
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	VI.	UTILITIES: Lessee shall pay for gas and electricity for the Combined Additional Space. Water and trash removal are included in the CAM charges.

  

	VII.	Landlord shall provide four lab benches in the Additional Space, one L-shaped lab bench against the wall in the Initial Additional Space, and associated water pipings
and sinks and electrical wirings and power supplies for the benches, new paint for the entire Combined Additional Space, and new carpet for the Initial Additional Space (collectively, the “Tenant Improvements”). 

 

	VIII.	Section 1.2(b) of the Original Lease is hereby amended and restated as follows: 

“Parking: 9 unreserved and 13 reserved vehicle parking spaces at a monthly cost of $0 per unreserved space and $0 per reserved
space. (See Paragraph 2.6)” 
  

	IX.	Effectiveness of Lease: Except as set forth in this executed Amendment #4 to the Lease, all other terms and conditions of the Original Lease, as amended by First
Amendment and Amendment #2, between the parties described above shall continue in full force and effect. The terms and conditions of Amendment #3 are in full force and effect until the commencement of this Amendment #4. 

In witness thereof, the parties hereto execute this agreement on the dates indicated below: 

 

									
	Lessor	 		 	Lessee
			
	SUNTREE GARDEN, LLC.	 		 	SORRENTO THERAPEUTICS, INC., a Delaware
Corporation
					
	By:	 	/s/ David Wen	 		 	By:	 	/s/ Henry Ji
	Title:	 	Managing Member	 		 	Title:	 	CSO
	Date:	 	1/17/2011	 		 	Date:	 	Jan 17, 2011

  
 2Amendment to Employment Agreement - Stephen I. Sadove

 Exhibit 10.30 
 AMENDMENT 
 TO THE 

EMPLOYMENT AGREEMENT 
 BY AND BETWEEN 
 SAKS INCORPORATED AND 

STEPHEN I. SADOVE 
 THIS AMENDMENT TO THE EMPLOYMENT AGREEMENT (the “Amendment”) is entered into as of December 9, 2010, by and between Stephen I. Sadove (the “Executive”) and Saks Incorporated (the
“Company”). 
 Capitalized terms used herein which are not otherwise defined have the same meaning as in the Employment Agreement.

 WITNESSETH: 
 WHEREAS, the Company and the Executive have previously entered into that certain Employment Agreement dated July 31, 2007 (the “Original Agreement”), as previously amended by the
Amendment to Employment Agreement, dated as of December 16, 2008 (the “First Amendment”) and the Amendment to Employment Agreement dated as of April 9, 2009 (the “Second Amendment,” and collectively with the Original
Agreement and the First Amendment, the “Employment Agreement”); 
 WHEREAS, it is necessary to amend the
Employment Agreement to bring it into compliance with Internal Revenue Code Section 409A and the final Treasury Regulations issued thereunder; and 
 WHEREAS, the Company and Executive believe it is in the best interest of the Company and the Executive to adopt this Amendment. 

NOW, THEREFORE, BE IT RESOLVED, that effective as of December 8, 2010, the Employment Agreement is amended as follows:

  

	1.	The first paragraph of Section 4(a)(ii) of the Employment Agreement is deleted in its entirety and the following shall be substituted in its place:

 “(ii) Provided that the Executive has executed and delivered to the Company, and has not revoked, the
general release in substantially the form attached hereto as Attachment A (the “Release”) by the fiftieth (50) day following the Employment Termination Date, the Company shall make the following payments and shall provide the
following benefits, provided that if the Executive directly or indirectly engages in conduct that constitutes an Association (as defined in Section 12(b)(iv)(D) hereof), the Company’s obligation to make the following payments and to
provide the following benefits shall immediately terminate:” 
  

	2.	Section 4(a)(ii)(A) of the Employment Agreement is deleted in its entirety and the following shall be substituted in its place: 

“(A) except as otherwise provided in Section 10 hereof, an amount equal to the sum of two times the Executive’s Base Salary
and one times the Executive’s target bonus potential amount of 150% of Base Salary for the fiscal year during which the Employment Termination Date occurs, which amount shall be payable in 24 equal monthly installments commencing with the month
following the month in which the sixtieth (60) day following the Employment Termination Date occurs;” 

  
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	3.	The first paragraph of Section 4(b)(ii) of the Employment Agreement is deleted in its entirety and the following shall be substituted in its place:

 “(ii) provided that the Executive has executed and delivered to the Company, and has not revoked, the
Release by the fiftieth (50) day following the Employment Termination Date, the Company shall make the following payments and shall provide the following benefits, provided that if the Executive directly or indirectly engages in conduct that
constitutes an Association (as defined in Section 12(b)(iv)(D) hereof), the Company’s obligation to make the following payments and to provide the following benefits shall immediately terminate:” 

 

	4.	Section 4(b)(ii)(A) of the Employment Agreement is deleted in its entirety and the following shall be substituted in its place: 

“(A) except as otherwise provided in section 10 hereof, (x) if the termination of employment occurs during the two year period
following a change in control of the Company under Section 1.409A-3(i)(5), an amount equal to the sum of two times the Executive’s Base Salary and two times the Executive’s target bonus potential amount of 150% of Base Salary for the
fiscal year during which the Employment Termination Date occurs, which amount shall be payable in a lump sum on the sixtieth (60) day following the Employment Termination Date, (y) if the termination of employment occurs during the
calendar year in which a Change of Control (as defined in Section 4(c) of this Agreement) occurs or during the first calendar year or the second calendar year following the calendar year during which the Change in Control occurs and the
termination of employment does not occur due to an event described in (x) above, an amount equal to the sum of two times the Executive’s Base Salary and two times the Executive’s target bonus potential amount of 150% of Base Salary
for the fiscal year during which the Employment Termination Date occurs, which amount shall be payable in 24 equal monthly installments commencing with the month following the month in which the sixtieth (60) day following the Employment
Termination Date occurs, or (z) if the termination of employment occurs due to an event other than as described in (x) or (y) above, an amount equal to the sum of two times the Executive’s Base Salary and one times the
Executive’s target bonus potential amount of 150% of Base Salary for the fiscal year during which the Employment Termination Date occurs, which amount shall be payable in 24 equal monthly installments commencing with the month following the
month in which the sixtieth (60) day following the Employment Termination Date occurs;” 
  

	5.	Section 7 of the Employment Agreement is deleted in its entirety and the following shall be substituted in its place: 

“Termination Due to Disability. If at any time prior to the termination of this Agreement the Executive shall become disabled,
this Agreement and the Executive’s employment shall continue for a period of 12 months from the date on which the Executive becomes disabled. The date on which the Executive shall be deemed to have become disabled shall be the date on which
either (a) the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of
not less than 12 months or (b) the Executive is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months,
receiving income 

  
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replacement benefits for a period of not less than three months under an accident and health plan covering employees of the service provider’s employer (a “Disability”). During the
12 month period following a Disability, the Executive shall continue to receive all payments and benefits provided by this Agreement, including without limitation the benefits described in Section 3 of this Agreement, and the Executive shall
remain eligible to receive, in accordance with their respective terms, the severance and/or benefits that would be payable upon a termination of the Executive’s employment as described in Sections 4, 5, 6, 8, 9 or 11 of this Agreement, less all
disability payments received pursuant to the Company’s short-term disability/sick pay plan or its Group Long-Term Disability Insurance Policy. Notwithstanding the foregoing, during the 12 month period following a Disability, the Base Salary
payable pursuant to Section 3(a) of this Agreement shall be paid in monthly installments, and any bonus payable pursuant to Section 3(b) of this Agreement shall be paid at the time that bonuses for the fiscal year in which the Disability
occurred are paid to other senior executives of the Company. If the Executive’s disability continues after the end of such 12-month period, the Company may terminate this Agreement and the Executive’s employment for disability
(“Disability Termination”). Disputes regarding the existence of the Executive’s disability shall be resolved by the determination of a physician selected by the Board who is reasonably acceptable to the Executive. The Executive shall
submit to appropriate medical examinations for purposes of determining disability. Upon a Disability Termination, the Executive shall be entitled to (a) the payments in the amounts and at the times described in Sections 4(a)(i)(A), (B) and
(C) hereof and described in Section 4(b)(ii)(B) hereof; (b) the Executive’s unexercisable stock options, unvested shares of restricted stock and unvested performance shares shall vest as described in Section 4(b)(ii)(E)
hereof; and (c) all other benefits in accordance with Section 3(d) of this Agreement that would be payable upon such Disability Termination. Upon a Disability Termination, the Company’s obligations in Sections 11, 13(f) and 13(h) of
this Agreement, and the Executive’s obligations in Sections 11, 12, and 13(h) of this Agreement, shall continue in effect in accordance with their respective terms.” 

 

	6.	Section 10 of the Employment Agreement is amended by adding three new paragraphs to the end of the Section which shall provide as follows:

 “The Agreement is intended to comply with the requirements of Section 409A or an exemption or
exclusion therefrom and, with respect to amounts that are subject to Section 409A, shall in all respects be administered in accordance with Section 409A. Any payments that qualify for the “short-term deferral” exception or
another exception under Section 409A shall be paid under the applicable exception. Each payment of compensation under this Agreement shall be treated as a separate payment of compensation for purposes of Section 409A. All payments to be
made upon a termination of employment under this Agreement may only be made upon a “separation from service” under Section 409A. In no event may the Executive, directly or indirectly, designate the calendar year of any payment under
this Agreement. Any tax gross-up payment made pursuant to this Agreement shall be made no later than the end of Executive’s taxable year next following Executive’s taxable year in which Executive remits the related taxes. 

Notwithstanding anything to the contrary in this Agreement, all reimbursements and in-kind benefits provided under this Agreement shall be
made or provided in accordance with the requirements of Section 409A, including, where applicable, the requirement that (a) any reimbursement is for expenses incurred during the Executive’s lifetime (or during a shorter period of time
specified in this Agreement); (b) the amount of expenses eligible 

  
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for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year,
except, if such benefits consist of the reimbursement of expenses referred to in Section 105(b) of the Code, a maximum, if provided under the terms of the plan providing such medical benefit, may be imposed on the amount of such reimbursements
over some or all of the period in which such benefit is to be provided to the Executive as described in Treasury Regulation Section 1.409A-3(i)(1)(iv)(B); (c) the reimbursement of an eligible expense will be made no later than the last day
of the calendar year following the year in which the expense is incurred, provided that the Executive shall have submitted an invoice for such fees and expenses at least ten (10) days before the end of the calendar year next following the
calendar year in which such fees and expenses were incurred; and (d) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

Notwithstanding anything to the contrary in this Agreement, payment of any amounts, including, but not limited to, salary and bonuses,
will be subject to, and payable in accordance with, any prior deferral elections made with respect to such amounts under the Company’s Deferred Compensation Plan (as amended and restated effective January 1, 2009).” 

 

	7.	Except as expressly modified herein, all other terms of the Employment Agreement shall remain in full force and effect. 

[signature page follows] 

  
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 IN WITNESS WHEREOF, this Amendment has been duly executed as of the date and year
first above written. 
  

			
	SAKS INCORPORATED
	
	       /s/ Christine Morena

	By: Christine Morena
	
	Title: EVP, HR
	
	EXECUTIVE
	
	     /s/ Stephen I. Sadove

	STEPHEN I. SADOVE

  
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