Document:

Exhibit 10.13

 

EDGEWISE THERAPEUTICS, INC.

 

OUTSIDE DIRECTOR COMPENSATION POLICY

 

Edgewise Therapeutics, Inc.
(the “Company”) believes that the granting of equity and cash compensation to members of the Company’s
Board of Directors (the “Board,” and members of the Board, “Directors”) represents an
effective tool to attract, retain and reward Directors who are not employees of the Company (“Outside Directors”).
This Outside Director Compensation Policy (the “Policy”) is intended to formalize the Company’s policy
regarding cash compensation and grants of equity awards to its Outside Directors. Unless otherwise defined herein, capitalized
terms used in this Policy will have the meaning given such term in the Company’s 2021 Equity Incentive Plan, as amended from
time to time, or if such plan no longer is in use at the time of the grant of an equity award, the meaning given such term or similar
term in the equity plan then in place under which the equity award is granted (the “Plan”). Each Outside Director
will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity awards and cash
and other compensation such Outside Director receives under this Policy.

 

1.          Effective
Date. This Policy will be effective as of the effective date of the first registration statement that is filed by the Company
and declared effective pursuant to Section 12(b) of the U.S. Securities Exchange Act of 1934, as amended, with respect
to any class of the Company’s securities (such date, the “Effective Date”).

 

2.            Cash
Compensation

 

2.1            Board
Member Annual Cash Retainer. Each Outside Director will be paid an annual cash retainer of $35,000. There are no per-meeting
attendance fees for attending Board meetings or meetings of any committee of the Board.

 

2.2            Additional
Annual Cash Retainers. As of the Effective Date, each Outside Director who serves as the Chair of the Board, or the chair or
a member of a committee of the Board, will be eligible to earn additional annual fees as follows:

 

	Non-Executive Chair of the Board:	 	$	30,000	 
	Audit Committee Chair:	 	$	15,000	 
	Audit Committee Member:	 	$	7,500	 
	Compensation Committee Chair:	 	$	10,000	 
	Compensation Committee Member:	 	$	5,000	 
	Nominating and Corporate Governance Committee Chair:	 	$	8,000	 
	Nominating and Corporate Governance Committee Member:	 	$	4,000	 

 

For clarity, each Outside
Director who serves as the chair of a committee will receive only the additional annual fee as the chair of the committee and not
the additional annual fee as a member of such committee while serving as such chair, provided, that the Outside Director who serves
as the Chair of the Board will receive the annual fee for services provided in such role as well as the annual fee as an Outside
Director.

 

    	 		

     

    

 

2.3           Payment
Timing and Proration. Each annual cash retainer (a “Annual Cash Retainer”) under this Policy will be
paid quarterly in arrears on a prorated basis to each Outside Director who has served in the relevant capacity at any time
during the immediately preceding fiscal quarter of the Company (“Fiscal Quarter”), and such payment will
be made no later than thirty (30) days following the end of such immediately preceding Fiscal Quarter. For clarity, an
Outside Director who has served as an Outside Director, as a member of an applicable committee (or chair thereof) during only
a portion of the relevant Fiscal Quarter will receive a prorated payment of the quarterly installment of the applicable
Annual Cash Retainer(s), calculated based on the number of days during such Fiscal Quarter such Outside Director has served
in the relevant capacities. For clarity, an Outside Director who has served as an Outside Director or as a member of an
applicable committee (or chair thereof) from the Effective Date through the end of the Fiscal Quarter containing the
Effective Date (the “Initial Period”), as applicable, will receive a prorated payment of the quarterly
installment of the applicable Annual Cash Retainer(s), calculated based on the number of days during the Initial Period that
such Outside Director has served in the relevant capacities.

 

2.4           Election
to Receive Fully Vested Stock. Subject to complying with the Retainer Award Election Mechanics below, each Outside Director
may elect to convert all of his or her Annual Cash Retainer with respect to services performed in a future calendar year and otherwise
scheduled to be paid following the completion of those services into an award of fully-vested Shares granted under the Plan (“Retainer
Award” and such election, a “Retainer Award Election”). If an Outside Director elects to convert his
or her Annual Cash Retainer into a Retainer Award, the Retainer Award will be issued automatically and quarterly (such portion
of the Retainer Award, a “Quarterly Retainer Award”) in arrears on a prorated basis on the first Trading Day
following the end of such immediately preceding Fiscal Quarter. The number of Shares subject to a Quarterly Retainer Award will
be determined by dividing the amount of the Annual Cash Retainer that would otherwise be payable with respect to such immediately
preceding Fiscal Quarter by the Fair Market Value of a Share on the issuance date (as determined in accordance with the Plan),
rounded to the nearest whole Share using standard rounding principles. The “Retainer Award Election Mechanics”
are set forth below:

 

2.4.1          Each
Retainer Award Election must be submitted to the Company’s General Counsel in the form and manner specified by the Board
or Compensation Committee. An individual who fails to make a timely Retainer Award Election shall not receive a Retainer Award
for the next calendar year, and instead shall receive the applicable Annual Cash Retainer for such calendar year. Once a Retainer
Award Election is validly submitted, it will remain in effect with respect to all subsequent Annual Cash Retainers related to future
calendar years unless the applicable Outside Director revokes such election as provided herein.

 

2.4.2            Retainer
Award Elections must comply with the following timing requirements:

 

    (a)            Initial
Election. Each individual who first becomes an Outside Director (the date such individual first becomes an Outside Director,
the “Initial Director Date”) may make a Retainer Award Election with respect to Annual Retainer Cash Payments
payable to such Outside Director in the following calendar year (the “Initial Election”). The Initial Election
must be submitted to the Company’s General Counsel within the Company’s next open trading window following the Initial
Director Date that occurs in the same calendar year (the last day of such trading window, the “Initial Election Deadline”),
and, except as provided in subsection (c) below, the Initial Election shall become irrevocable effective as of the Initial
Election Deadline, provided that if no open trading window occurs in the same calendar year following the Initial Director Date,
such Outside Director will not be eligible to make an Initial Election in such calendar year.

 

    	 	-2-	

     

    

 

    (b)            Annual
Election. Following the calendar year containing the Initial Director Date, each Outside Director may make a Retainer Award
Election with respect to Annual Retainer Cash Payments payable to such Outside Director in the following calendar year (the “Annual
Election”). The Annual Election must be submitted to the Company’s General Counsel within the Company’s fourth
quarter open trading window (the “Fourth Quarter Trading Window”) of the calendar year preceding the calendar
year to which the Annual Retainer Cash Payments relate (the last day of such trading window, the “Annual Election Deadline”),
and, except as provided in subsection (c) below, the Annual Election shall become irrevocable effective as of the Annual Election
Deadline, provided that if such calendar year does not contain a Fourth Quarter Trading Window, Outside Directors will not be eligible
to make an Annual Election in such calendar year.

 

    (c)            Revocation.
Following the calendar year containing the Initial Director Date, an Outside Director may revoke his or her Retainer Award Election
during a Fourth Quarter Trading Window with respect to Annual Retainer Cash Payments related to future calendar years. If a calendar
year does not contain a Fourth Quarter Trading Window, Outside Directors will not be eligible to revoke a Retainer Award Election
in such calendar year.

 

3.         Equity
Compensation. Outside Directors will be eligible to receive all types of Awards (except Incentive Stock Options) under
the Plan, including discretionary Awards not covered under this Policy, subject to Section 5 hereof. All grants of Awards
to Outside Directors pursuant to Sections 3.2 and 3.3 of this Policy will be automatic and nondiscretionary, except as otherwise
provided herein, and will be made in accordance with the following provisions:

 

3.1           No
Discretion. No person will have any discretion to select which Outside Directors will be granted Annual Awards (as defined
below) under this Policy or to determine the number of Shares to be covered by such Awards (except as provided in Sections 3.5.4
and 10 below).

 

3.2           Initial
Awards. Each individual who first becomes an Outside Director following the Effective Date automatically will be granted an
Option (an “Initial Award”) to purchase Shares with grant date fair value as determined in accordance with U.S.
generally accepted accounting principles (the “Grant Value”) equal to $500,000. The grant date of the Initial
Award will be the first Trading Day on or after the date on which such individual first becomes an Outside Director (such first
date as an Outside Director, the “Initial Start Date”), whether through election by the stockholders of the
Company or appointment by the Board to fill a vacancy. If an individual was an Employee-Director, becoming an Outside Director
due to termination of the individual’s status as an Employee will not entitle the Outside Director to an Initial Award. Each
Initial Award will be scheduled to vest as to one thirty-sixth (1/36th) of the Shares subject to the Initial Award on a monthly
basis following the Initial Award’s grant date on the same day of the month as such grant date (or on the last day of the
month, if there is no corresponding day in such month), subject to the Outside Director remaining a Service Provider through the
applicable vesting date.

 

    	 	-3-	

     

    

 

3.3           Annual
Award. On the first Trading Day immediately following each Annual Meeting of the Company’s stockholders (an “Annual
Meeting”) that occurs after the Effective Date, each Outside Director automatically will be granted an Option to purchase
Shares with a Grant Value equal to $250,000 (the “Annual Award”). The Annual Award will be scheduled to vest
in full upon the first anniversary of the date of grant or, if earlier, the day immediately before the date of the next Annual
Meeting that occurs after the Annual Award’s grant date, subject to the Outside Director remaining a Service Provider through
the applicable vesting date.

 

3.4           Additional
Terms of Initial Awards and Annual Awards. The terms and conditions of each Initial Award and Annual Award will be as follows.

 

3.4.1        The
term of each Initial Award and Annual Award will be ten (10) years, subject to earlier termination as provided in the
Plan.

 

3.4.2         The
per Share exercise price of each Initial Award and Annual Award will be equal to one hundred percent (100%) of the Fair Market
Value per Share on such Award’s grant date.

 

3.4.3            Each
Initial Award and Annual Award will be granted under and subject to the terms and conditions of the Plan and the applicable form
of Award Agreement previously approved by the Board or its Committee, as applicable, for use thereunder.

 

3.4.4          The
Board or its Committee, as applicable and in its discretion, may change and otherwise revise the terms of Initial Awards and Annual
Awards granted pursuant to this Policy, including without limitation the number of Shares subject thereto and type of Award.

 

4.           Change
in Control. In the event of a Change in Control, each Outside Director will fully vest in his or her outstanding Company equity
awards as of immediately prior to the Change in Control, including any Initial Award and Annual Award, provided that the Outside
Director continues to be an Outside Director through the date of such Change in Control.

 

5.           Annual
Compensation Limit. No Outside Director may be granted, in any Fiscal Year, Awards with values (based on their grant date fair
value determined in accordance with U.S. generally accepted accounting principles), and be provided any other compensation (including
without limitation any cash retainers or fees) in amounts that, in any Fiscal Year, in the aggregate, exceed $750,000, provided
that such amount is increased to $1,000,000 in the Fiscal Year of his or her initial service as an Outside Director. Any Awards
or other compensation provided to an individual (a) for his or her services as an Employee, or for his or her services as
a Consultant other than as an Outside Director, or (b) prior to the Registration Date, will be excluded for purposes of this
Section 5.

 

6.             Travel
Expenses. Each Outside Director’s reasonable, customary and properly documented travel expenses to meetings of the Board
and any of its committees, as applicable, will be reimbursed by the Company.

 

7.            Adjustments.
In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification,
repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company
affecting the Shares occurs (other than any ordinary dividends or other ordinary distributions), the Administrator, in order to
prevent diminution or enlargement of the benefits or potential benefits intended to be made available under this Policy, will
adjust the number and class of the shares of stock issuable pursuant to Awards that may be granted pursuant to Section 3
of this Policy.

 

    	 	-4-	

     

    

 

8.            Section 409A.
In no event will cash compensation or expense reimbursement payments under this Policy be paid after the later of (a) the
fifteenth (15th) day of the third (3rd) month following the end of the Company’s taxable year in which the compensation
is earned or expenses are incurred, as applicable, or (b) the fifteenth (15th) day of the third (3rd) month following the
end of the calendar year in which the compensation is earned or expenses are incurred, as applicable, in compliance with the “short-term
deferral” exception under Section 409A. It is the intent of this Policy that this Policy and all payments hereunder
be exempt from or otherwise comply with the requirements of Section 409A so that none of the compensation to be provided
hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein
will be interpreted to be so exempt or comply. In no event will the Company or any of its Parents or Subsidiaries have any responsibility,
liability, or obligation to reimburse, indemnify, or hold harmless an Outside Director (or any other person) for any taxes imposed,
or other costs incurred, as a result of Section 409A.

 

9.            Stockholder
Approval. The initial adoption of this Policy will be subject to approval by the Company’s stockholders prior to the
Effective Date. Unless otherwise required by applicable law, following such approval, this Policy will not be subject to approval
by the Company’s stockholders, including, for clarity, as a result of or in connection with any action taken with respect
to this Policy as contemplated in Section 10.

 

10.         Revisions.
The Board or any committee of the Board that has been designated appropriate authority with respect to Outside Director compensation
(or with respect to any applicable element or elements thereof, authority with respect to such element or elements) (the “Committee”)
may amend, alter, suspend or terminate this Policy at any time and for any reason. Further, the Board may provide for cash, equity,
or other compensation to Outside Directors in addition to the compensation provided under this Policy. No amendment, alteration,
suspension or termination of this Policy will materially impair the rights of an Outside Director with respect to compensation
that already has been paid or awarded, unless otherwise mutually agreed between the Outside Director and the Company. Termination
of this Policy will not affect the Board’s or the Committee’s ability to exercise the powers granted to it with respect
to Awards granted under the Plan pursuant to this Policy before the date of such termination, including without limitation such
applicable powers set forth in the Plan.

 

*           *          *

 

    	 	-5-Exhibit 10.14

 

LEASE

 

FOR PREMISES LOCATED AT

 

JENNIE SMOLY CARUTHERS BIOTECHNOLOGY
BUILDING

 

UNIVERSITY OF COLORADO BOULDER

 

3415 COLORADO AVENUE,

 

BOULDER, COLORADO 80309

 

BY AND BETWEEN

 

EDGEWISE THERAPEUTICS, INC.,

 

A DELAWARE
CORPORATION

 

AS TENANT

 

AND

 

THE REGENTS OF THE UNIVERSITY OF COLORADO,
A BODY CORPORATE

 

AS LANDLORD

 

    

     

    

 

TABLE OF CONTENTS

 

PAGE

 

	ARTICLE 1. – DEFINITIONS AND BASIC LEASE PROVISIONS	1
	 	 	 
	1.1.	Definitions and Basic Lease Provisions	1
	 	 	 
	(a)	Landlord	1
	 	 	 
	(b)	Landlord’s Addresses	1
	 	 	 
	(c)	Tenant	1
	 	 	 
	(d)	Tenant’s Address	1
	 	 	 
	(e)	Building	2
	 	 	 
	(f)	Premises	2
	 	 	 
	(g)	Base Rent	2
	 	 	 
	(h)	Tenant Improvements	2
	 	 	 
	(i)	Term	2
	 	 	 
	(j)	Commencement Date	2
	 	 	 
	(k)	Expiration Date	2
	 	 	 
	(l)	Permitted Use	2
	 	 	 
	(m)	Normal Business Hours	2
	 	 	 
	1.2.	Construction	2
	 	 	 
	ARTICLE 2. – GRANT	2
	 	 	 
	2.1.	Premises	2
	 	 	 
	2.2.	Common Areas	3
	 	 	 
	ARTICLE 3. – TERM	3
	 	 	 
	3.1.	Initial Term	3
	 	 	 
	3.2.	Termination	3
	 	 	 
	ARTICLE 4. – DELIVERY AND ACCEPTANCE OF PREMISES	3
	 	 	 
	4.1.	Premises Condition	3
	 	 	 
	ARTICLE 5. – RENT	3
	 	 	 
	5.1.	Base Rent	3
	 	 	 
	5.2.	Additional Rent and Rent	4
	 	 	 
	5.3.	Late Charges	4
	 	 	 
	5.4.	Annual Escalation	4
	 	 	 
	5.5.	Unrelated Business Income	4
	 	 	 
	5.6.	Additional Services	4

 

    i

     

    

 

	ARTICLE 6. – OCCUPANCY AND USE	4
	 	 	 
	6.1.	Permitted Use of Premises	4
	 	 	 
	6.2.	Lawful Use of Premises	4
	 	 	 
	6.3.	No Nuisance	4
	 	 	 
	6.4.	Hazardous and Toxic Materials	4
	 	 	 
	(a)	Definition of Hazardous Materials	4
	 	 	 
	(b)	Tenant’s Covenants Regarding Hazardous Material	5
	 	 	 
	(c)	Notice of Hazardous Materials	5
	 	 	 
	(d)	Violations	5
	 	 	 
	6.5.	Environmental Health and Safety	6
	 	 	 
	6.6.	Landlord’s Access	6
	 	 	 
	6.7.	Quiet Possession	6
	 	 	 
	6.8.	Signage	6
	 	 	 
	6.9.	Landlord’s Rules and Regulations	7
	 	 	 
	6.10.	Liability for Overload	7
	 	 	 
	6.11.	Personnel	7
	 	 	 
	6.12.	Sponsored Research	7
	 	 	 
	ARTICLE 7. – UTILITIES AND SERVICES	7
	 	 	 
	7.1.	Services to be provided	7
	 	 	 
	(a)	Landlord Services	7
	 	 	 
	(b)	Tenant Responsibilities	8
	 	 	 
	7.2.	Building Maintenance Requests	9
	 	 	 
	7.3.	Keys	9
	 	 	 
	ARTICLE 8. – TENANT ALTERATIONS AND LIENS	9
	 	 	 
	8.1.	Tenant Alterations	9
	 	 	 
	8.2.	Work Performed by Landlord	9
	 	 	 
	8.3.	Work Performed by Tenant	9
	 	 	 
	8.4.	Liens	10
	 	 	 
	ARTICLE 9. – INSURANCE	10
	 	 	 
	9.1.	Tenant’s Insurance	10
	 	 	 
	9.2.	Coverages	10
	 	 	 
	(a)	Commercial Property Insurance	10
	 	 	 
	(b)	Commercial General Liability Insurance	11
	 	 	 
	(c)	Workers' Compensation Insurance	11
	 	 	 
	(d)	Automobile Liability Insurance	11

 

    ii

     

    

 

	(e)	Umbrella/Excess Liability Insurance	12
	 	 	 
	9.3.	Waiver of Subrogation	12
	 	 	 
	9.4.	Indemnification	12
	 	 	 
	ARTICLE 10. – FIRE AND CASUALTY	13
	 	 	 
	10.1.	Fire and Casualty	13
	 	 	 
	ARTICLE 11. – CONDEMNATION	13
	 	 	 
	11.1.	Condemnation	13
	 	 	 
	ARTICLE 12. – TAXES	13
	 	 	 
	12.1.	Tenant’s Obligations	13
	 	 	 
	ARTICLE 13. – SUBLETTING AND ASSIGNING	13
	 	 	 
	13.1.	Sublease and Assignment	13
	 	 	 
	ARTICLE 14. – SURRENDER OF PREMISES	13
	 	 	 
	14.1.	Condition at Termination	13
	 	 	 
	14.2.	Surrender of Premises	14
	 	 	 
	14.3.	Checkout	14
	 	 	 
	ARTICLE 15. – DEFAULT & CUMULATIVE REMEDIES	14
	 	 	 
	15.1.	Default by Tenant	14
	 	 	 
	15.2.	Cumulative Remedies	15
	 	 	 
	ARTICLE 16. – NOTICES	15
	 	 	 
	16.1.	Notices	15
	 	 	 
	ARTICLE 17. – HOLDING OVER	15
	 	 	 
	17.1.	Holding Over	15
	 	 	 
	ARTICLE 18. – MISCELLANEOUS PROVISIONS	16
	 	 	 
	18.1.	No Waiver	16
	 	 	 
	18.2.	Applicable Law	16
	 	 	 
	18.3.	Colorado Governmental Immunity Act	16
	 	 	 
	18.4.	Successors and Assigns	16
	 	 	 
	18.5.	Force Majeure	16
	 	 	 
	18.6.	Severability	16
	 	 	 
	18.7.	Amendment	16
	 	 	 
	18.8.	Interpretation of Lease	17
	 	 	 
	18.9.	Headings	17
	 	 	 
	18.10.	Authority	17
	 	 	 
	18.11.	Entire Agreement	17

 

    iii

     

    

 

	18.12.	No Third Party Beneficiaries	17
	 	 	 
	18.13.	Time of the Essence	17
	 	 	 
	18.14.	Counterparts	17
	 	 	 
	18.15.	OFAC	17
	 	 	 
	18.16.	Exhibits and Attachments	17
	 	 	 
	18.17.	Export Control Regulations	17
	 	 	 
	18.18.	Extinguishment and Replacement	18

 

    iv

     

    

 

LEASE AGREEMENT

 

THIS LEASE
AGREEMENT (“Lease”) is made by and between Landlord and Tenant hereinafter named. In consideration of the respective
covenants, obligations, and agreements of the parties set forth herein, the legal sufficiency of which is acknowledged by each
of the undersigned, Landlord and Tenant agree as follows:

 

ARTICLE 1. – DEFINITIONS AND BASIC LEASE
PROVISIONS

 

1.1.         Definitions
and Basic Lease Provisions.     For the purposes of this
Lease, the following terms and provisions shall have the respective meanings attributed to them below:

 

(a)          Landlord:
THE REGENTS OF THE UNIVERSITY OF COLORADO, a body corporate, created and operating under the Constitution and statutes of the State
of Colorado.

 

		(b)	Landlord’s Addresses:

 

		Notice Address:	University of Colorado
Boulder

Real Estate Services

1540 30th Street, RL#2, Room 101

444 UCB

Boulder, Colorado 80309-0444

Attn: Rebecca Fell, Interim
Executive Director

 

or such other place as Landlord may designate in writing to Tenant pursuant to Article 16.1.

 

Rent Payment

		Address:	University of Colorado Boulder

 Real Estate Services

1540 30th Street, RL#2, Room 101

444 UCB,

Boulder, Colorado 80309-0444

 

or such other place as Landlord may designate in writing
to Tenant pursuant to Article 5.1.

 

		Email Address:	***

 

		(c)	Tenant:	Edgewise Therapeutics, Inc., a Delaware corporation

 

		(d)	Tenant’s Address:

 

3415 Colorado Avenue,

Boulder, Colorado 80303

 

		Email Address:	***

 

or such other places as Tenant may designate
in writing to Landlord pursuant to Article 16.1.

 

    1

     

    

 

(e)          Building:
The building known as Jennie Smoly Caruthers Biotechnology Building (the “Building”), having an address of 3415 Colorado
Avenue, in the City of Boulder, County of Boulder, State of Colorado.

 

(f)          Premises:
Approximately 826 usable square feet of office space in Rooms E136, E138, E145, E234, E236, and E238, and 565 useable square feet
of lab space located in Rooms E251 and E251D, as designated on Exhibit A (“Premises”).

 

		(g)	Base Rent:

 

	Room #	 	Square 

Feet	 	 	Rate	 	 	Annual Rent	 	 	Monthly Rent	 
	E136	 	 	132	 	 	$	35.98	 	 	$	4,749.36	 	 	$	395.78	 
	E138	 	 	153	 	 	$	35.98	 	 	$	5,504.94	 	 	$	458.74	 
	E145	 	 	117	 	 	$	35.98	 	 	$	4,209.66	 	 	$	350.81	 
	E234	 	 	139	 	 	$	35.98	 	 	$	5,001.22	 	 	$	416.77	 
	E236	 	 	132	 	 	$	35.98	 	 	$	4,749.36	 	 	$	395.78	 
	E238	 	 	153	 	 	$	35.98	 	 	$	5,504.94	 	 	$	458.74	 
	E251, E251D	 	 	565	 	 	$	89.96	 	 	$	50,827.40	 	 	$	4,235.62	 
	TOTAL:	 	 	1,391	 	 	 	 	 	 	$	80,546.88	 	 	$	6,712.24	 

 

		(h)	Tenant Improvements: N/A – “AS-IS”

 

(i)           Term:
Fourteen (14) whole calendar months (each, a “Month”), beginning on the Commencement Date and ending on the
Expiration Date described below, subject to extension or sooner termination in accordance with the provisions of this Lease.

 

		(j)	Commencement Date: July 1, 2020

 

		(k)	Expiration Date: August 31, 2021

 

(l)          Permitted
Use: Tenant may use the Premises only for office and/or lab space and for no other use (“Permitted Use”).

 

(m)        Normal
Business Hours: Normal business hours for the Building are between the hours of 8:00 am and 5:00 pm Mountain Standard Time
(“Normal Business Hours”).

 

1.2.         Construction.
Each of the foregoing definitions and basic lease provisions shall be construed in conjunction with and limited by the references
thereto in the other provisions of this Lease. If there is a conflict between any provisions of this Article 1 and any other
provisions of this Lease, the latter will control.

 

ARTICLE 2. – GRANT

 

2.1.         Premises.
Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises for the Term, on the terms and conditions
set forth in this Lease.

 

    2

     

    

 

2.2.         Common
Areas. Tenant is further granted the non-exclusive right to use the portion of the Premises, if any, and surrounding area serving
the Premises which is for the common use of the tenants in the Building, including but not limited to parking areas, ramps, private
streets and alleys, landscaping, curbs, loading and unloading areas, sidewalks and walkways, meeting rooms, public restrooms, service
areas, entrances, lobbies, hallways, elevators, stairways and access ways, and other common facilities in the Building (collectively,
 “Common Areas”).

 

ARTICLE 3. – TERM

 

3.1.         Initial
Term. The initial term of this Lease (“Initial Term”) shall commence at 12:01 a.m. on the Commencement
Date and terminate at 12:00 midnight on the Expiration Date (the Initial Term, together with any extensions thereof, plus any partial
month prior to the Initial Term is herein referred to as the “Term”), unless sooner terminated or extended in
accordance with the provisions of this Lease.

 

3.2.         Termination.
Either party may terminate this Lease with or without cause at any time during the Term. The terminating party shall give at least
sixty (60) days prior written notice to the other party of the terminating party’s intended date of termination of this Lease.
Tenant shall continue to make its rental payments as due through the date of termination. From and after the date of early termination,
the parties shall have no further rights and obligations hereunder except those that expressly survive the termination of this
Lease. For avoidance of doubt, Tenant’s obligation for any unpaid Rent or other monies owed to Landlord, or for damage to
the Premises, shall expressly survive termination. Landlord reserves all associated rights of enforcement and preserves all associated
remedies.

 

ARTICLE 4. – DELIVERY AND ACCEPTANCE
OF PREMISES

 

4.1.         Premises
Condition. Tenant accepts the Premises, Building, improvements, common areas and any fixtures on the Premises in their current
condition AS IS, WHERE IS, and WITH ALL FAULTS and acknowledges that it has examined or will examine, in accordance with the provisions
hereof, the Premises and the condition thereof, and that it has not relied on any representation or warranty by Landlord or Landlord's
representatives, except as otherwise expressly stated herein, regarding the Premises, including any warranty or representation
relating to value, suitability, fitness for a particular purpose or condition of the Premises.

 

ARTICLE 5. – RENT

 

5.1.         Base
Rent. As compensation to Landlord for the lease of the Premises, Tenant agrees to perform its covenants under this Lease and
to pay to Landlord, in the manner and time set forth herein, the Base Rent described in Article 1.1(g) (“Base Rent”).
The Base Rent is payable by Tenant to Landlord in the monthly installments described in Article 1.1(g). Each monthly installment
of Base Rent is payable in advance, on or before the first (1st) day of the calendar month for which payment is made. If the first
month or last month of the Term is other than a full calendar month, the monthly Base Rent for such partial month shall be prorated
on a daily basis. Base Rent shall be payable to Landlord at the address specified in Article 1.1(b) or at such other
address as Landlord may from time to time designate in writing.

 

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5.2.         Additional
Rent and Rent. All amounts required to be paid by Tenant under this Lease other than Base Rent are herein from time to time
collectively referred to as “Additional Rent.” Base Rent and Additional Rent are collectively referred to as
 “Rent.”

 

5.3.         Late
Charges. If any installment of Rent or any other payment payable by Tenant to Landlord under this Lease shall not be paid on
or before five (5) days after the date due, Tenant will pay to Landlord a late charge equal to five percent (5%) of such past
due payment, which late charge shall be in addition to any interest elsewhere provided for.

 

5.4.         Annual
Escalation. The rental rate shall be escalated annually in accordance with the Building budget over the budget, which is based
upon actual expenses to support the facility, including overhead rate recoveries that are applied on a uniform basis to all Building
tenants of Landlord. Landlord shall promptly notify Tenant of any such escalation.

 

5.5.         Unrelated
Business Income. If Landlord is advised at any time that any part of the payments by Tenant to Landlord under this Lease may
be characterized under the Internal Revenue Code or its regulations as unrelated business taxable income or may not be excludable
from unrelated business taxable income, then Tenant, at the option of Landlord, shall enter into an amendment of this Lease, reasonably
acceptable to Landlord and Tenant, that will enable Landlord to avoid such income, so long as the amendment does not increase Tenant’s
obligations hereunder or diminish Tenant’s rights hereunder.

 

5.6.         Additional
Services. The Rent designated in this Lease does not include any fees for services requested by and provided to Tenant by Landlord's
personnel other than the Landlord Services (as defined in ARTICLE 7, below). Fees for such additional Landlord Services shall
be reasonably determined by Landlord.

 

ARTICLE 6. – OCCUPANCY AND USE

 

6.1.         Permitted
Use of Premises. Tenant shall use the Premises solely for the Permitted Use, and for no other purpose without the prior written
consent of Landlord, which consent may be withheld in Landlord’s sole and absolute discretion.

 

6.2.         Lawful
Use of Premises. Tenant agrees not to use the Premises for any purpose that violates any federal, state or local statute, ordinance
or regulation that is applicable to Tenant or Tenant’s use and occupancy of the Premises or the business operated therein.

 

6.3.  
       No Nuisance. Tenant will not use, occupy or permit
the use or occupancy of the Premises in any manner that constitutes waste or a public or private nuisance.

 

		6.4.	Hazardous and Toxic Materials.

 

(a)          Definition
of Hazardous Materials. For purposes of this Lease, “Hazardous Materials” shall mean and include bio-medical
and bio-hazardous materials and waste, radioactive materials, asbestos-containing materials, and all other materials, substances,
wastes and chemicals classified as hazardous or toxic substances, materials, wastes or chemicals under then-applicable local, state
and federal governmental laws, rules or regulations or that are subject to any “right-to-know” laws or requirements.

 

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(b)         Tenant’s
Covenants Regarding Hazardous Material; Indemnity. Tenant shall not incorporate into, or use or otherwise place or dispose
of at the Premises or any other portion of the Building any Hazardous Materials, save and except for the use, generation and storage
on the Premises of commercially reasonable quantities of cleaning and office supplies. If Tenant requires the use of other Hazardous
Materials in the ordinary course of Tenant’s Permitted Use of the Premises, Tenant shall request in writing Landlord’s
approval of such Hazardous Materials. If Landlord permits the use of such Hazardous Materials, Tenant shall use such Hazardous
Materials only in reasonable quantities and shall ensure such Hazardous Materials are used, stored and disposed of by Tenant and
removed by Tenant from the Premises at the end of the Term, all in accordance with applicable Law. Tenant, its successors, assigns
and guarantors, agree to indemnify, defend, reimburse and hold harmless Landlord, any other person who acquires an interest in
the Premises in any manner, including by purchase at a foreclosure sale or otherwise, and the directors, officers, shareholders,
employees, partners, agents, contractors, subcontractors, experts, licensees, affiliates, lessees, mortgagees, trustees, heirs,
devisees, successors, assigns, guests and invitees of such persons (“Landlord Indemnified Parties”) from and against
any and all Environmental Damages (as hereafter defined) arising from activities of Tenant or its employees, agents, contractors,
subcontractors, or guests, licensees, or invitees which (1) result in the presence of Hazardous Materials upon, about or beneath
the Premises or migrating to or from the Premises, or (2) result in the violation of any environmental Laws pertaining to
the Premises and the activities thereon. Tenant's obligation shall include the burden and expense of the Landlord Indemnified Parties
in defending all claims, suits and administrative proceedings, including reasonable attorneys' fees and expert witness and consulting
fees, even if such claims, suits or proceedings are groundless, false or fraudulent, and conducting all negotiations of any description,
and paying and discharging, when and as the same become due, any and all judgments, penalties or other sums due against Landlord
Indemnified Parties, and all such expenses incurred in enforcing the obligation to indemnify. “Environmental Damages”
means all claims, judgments, damages, losses, penalties, fines, liabilities (including strict liability), encumbrances, liens,
costs and expenses of investigation and defense of any claim, whether or not such claim is ultimately defeated, and of any good
faith settlement or judgment, of whatever kind or nature, contingent or otherwise, matured or unmatured, foreseeable or unforeseeable,
including reasonable attorneys' fees and disbursements and consultants' and witnesses' fees, any of which are incurred at any time
as a result of the existence of Hazardous Material upon, about, beneath the Premises or migrating or threatening to migrate to
or from the Premises, or the existence of a violation of environmental Laws pertaining to the Premises.

 

(c)         Notice
of Hazardous Materials. If Tenant has knowledge of the presence of Hazardous Materials (other than commercially reasonable
quantities of cleaning and office supplies) in or on the Premises or any other portion of the Building, Tenant shall notify Landlord
thereof in writing promptly after obtaining such knowledge.

 

(d)         Violations.
If Tenant shall ever violate the provisions of Article 6.4(b) or Article 6.4(c), or otherwise contaminate the Premises
or the Building, Tenant shall at its expense (i) remediate the violation in compliance with all then current and applicable
governmental standards, laws, rules and regulations and then prevalent industry practice and standards; and (ii) repair
any damage to the Premises or the Building within such period of time as may be reasonable under the circumstances (“Environmental
Corrective Work”). Tenant shall notify Landlord in writing of its proposed method, time and procedure for such Environmental
Corrective Work and Landlord shall have the right to require reasonable changes in such method, time or procedure and/or to require
the same to be done after Normal Business Hours. Alternatively, Landlord shall have the right to perform the Environmental Corrective
Work at Tenant’s sole cost and expense.

 

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6.5.          Environmental
Health and Safety. Tenant must comply with all applicable occupational health and safety regulations including, but not limited
to, standards established by the University's Environmental Health & Safety Department (“EH&S”),
the Occupational Health and Safety Administration (“OHSA”), the Environmental Protection Agency (“EPA”),
the National Fire Protection Association (“NFPA”), the Nuclear Regulatory commission (“NRC”),
the Colorado Department of Public Health and Environment (“CDPHE”), and the Americans with Disabilities Act
(“ADA”), only so far as such compliance relates to the Permitted Use of the Premises and Tenant’s use
and occupancy thereof. Tenant agrees to keep hallways free of equipment for fire safety purposes, and otherwise comply with all
rules and regulations pertaining to firs and life safety.

 

6.6.          Landlord’s
Access. After reasonable prior written notice to Tenant, Landlord and its authorized agents shall have the right during Normal
Business Hours (or at any time in the event of an emergency), to enter the Premises to (i) inspect the Premises; (ii) within
the last twelve (12) months of the Initial Term or any applicable Extension Term, show the Premises to prospective tenants; and
(iii) fulfill Landlord’s obligations or exercise its rights under this Lease. Notwithstanding the foregoing, Landlord
will not be required to give Tenant prior notice of Landlord’s entry unto the Premises in case of emergency involving the
threat of imminent harm to person(s) or material damage to property, but Landlord will use reasonable efforts to notify Tenant
of such entry within forty-eight (48) hours thereafter. Landlord’s entry under this provision shall be made in the Landlord’s
discretion and shall not unreasonably interfere with the operation of Tenant’s business.

 

6.7.          Quiet
Possession. Tenant’s rights hereunder are subject to the express limitations contained herein on Tenant's rights to use
and enjoy the Premises and common areas, and to the lawful rights and powers of the applicable governmental entities other than
Landlord. Upon payment by Tenant of the amounts herein provided, and upon the observance and performance of all the covenants,
terms and conditions on Tenant’s part to be observed and performed, Tenant shall peaceably and quietly use and enjoy the
Premises for the Term without hindrance or interruption by Landlord or any other person or persons lawfully or equitably claiming
by, through or under Landlord. Landlord shall in no event be liable in damages or otherwise, nor shall Tenant be released from
any obligations hereunder, because of the interruption of any service, or a termination, interruption or disturbance, attributable
to strike, lockout, breakdown, accident, war or other emergency, law, order, rule or regulation of or by any governmental
authority, failure of supply, inability to obtain supplies, parts or employees, or any cause beyond Landlord’s reasonable
control, or any cause due to any act or neglect of Tenant or its servants, agents, employees, licensees, business invitees, or
any person claiming by, through or under Tenant.

 

6.8.          Signage.
Tenant will not, without Landlord’s prior written consent, install any signs, advertisements, banners or other
sign-related material to the inside or outside of the Premises (collectively, “Signs”). All Signs must be
approved in writing by Landlord prior to installation. Tenant will be solely responsible for all costs and expenses for the
Signs, including, without limitation, the costs of sign installation, removal and repair. Tenant will maintain and
repair all of the Signs in good and operating condition throughout the Term. Tenant will remove all Signs prior to the
termination of this Lease or immediately upon termination of Tenant’s right to possession of the Premises, and repair
all damage caused by the installation and removal thereof. Such installation and removal shall be made in such a manner as to
avoid damage or defacement of the Building and other improvements on the Premises.

 

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6.9.         Landlord’s
Rules and Regulations. Tenant will abide by all reasonable rules and regulations promulgated by Landlord for the
proper operation of the Building. In case of any conflict between the provisions of this Lease and any of the foregoing rules and
regulations as originally or as hereafter promulgated or modified by Landlord, the provisions of this Lease shall control.

 

6.10.       Liability
for Overload. Tenant shall be liable for the cost of any damage to the Premises or the Building or the sidewalks and pavement
adjoining the same which results from the movement of heavy articles or heavy vehicles or utility cuts made by or on behalf of
Tenant. Tenant shall not overload the floors or any other part of the Premises.

 

6.11.       Personnel.
Tenant agrees that the personnel it has selected to use or assist in the use of the Premises will abide by all the regulations
applicable to University of Colorado Boulder personnel relating to conduct while on University of Colorado Boulder property. Tenant
must provide the names of such personnel with their titles to Landlord prior to their use of the Premises.

 

6.12.       Sponsored
Research. This Lease shall not be used as a substitute for a sponsored research contract.

 

ARTICLE 7. – UTILITIES
AND SERVICES

 

7.1.         Services
to be provided. Except as otherwise expressly provided in this Lease, Landlord agrees at its sole cost and expense to furnish
(or cause third parties to furnish) all of the following utilities and services to the Premises (collectively, “Landlord
Services”):

 

		(a)	Landlord Services:

 

		(i)	Services to the Premises.

 

(A)        Heat,
ventilation and cooling as required for the comfortable use and occupancy of the Premises during Normal Business Hours.

 

(B)         Custodial
services, including interior and exterior window washing.

 

 (C)         Electric power.

 

(D)        Replacement
of Building standard light bulbs and ballasts as required from time to time as a result of normal usage.

 

		(ii)	Building Service.

 

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(A)        Domestic running water sufficient for the normal
use thereof by occupants in Building.

 

 (B)         Access to and egress from the Premises.

 

(C)         Snow removal, sidewalk repair
and maintenance, landscape maintenance and exterior trash removal services.

 

(D)         HVAC,
lighting, electric power, domestic running water and custodial service in those areas of the Building from time to time designated
by Landlord for use by Tenant, in common with all tenants and other persons in the Building during Normal Business Hours, but under
the exclusive control of Landlord.

 

(E)         A
general directory board on which Tenant shall be entitled to have its name shown, provided that Landlord shall have exclusive control
thereof and of the space thereon to be allocated to each tenant.

 

		(iii)	Maintenance, Repair and Replacement.

 

(A)        Subject
to Article 7.1(b)(ii) below, Landlord shall promptly operate, maintain, repair and replace the Building-standard systems,
facilities and equipment necessary for the proper operation of the Building, including but not limited to its security systems,
and shall maintain and repair the foundations, structure and roof of the Building and repair damage to the Building.

 

(B)        Subject
to Article 7.1(b)(ii) below, maintenance of parking lot and/or structure, maintenance of the external lighting devices
for the Building parking lot and/or structure.

 

Tenant agrees that Landlord shall
not be liable for failure to supply any utility or any other service during any period Landlord is unable to furnish such services
and Landlord uses reasonable diligence to supply such services, it being understood that Landlord reserves the right to discontinue
temporarily such services, or any of them, at such times as may be necessary by reason of accident, unavailability of employees,
repairs, alterations or improvements, or whenever by reason of strikes, lockouts, riots, acts of God or any other happening beyond
control of Landlord.

 

		(b)	Tenant Responsibilities:

 

(i)          Maintenance,
repair and replacement of Tenant’s property, equipment and trade fixtures and any improvements to the interior of the Premises
including any interior decorating. Interior decorating is subject to Landlord approval, which approval shall not be unreasonably
withheld.

 

(ii)         Any
repairs and replacements to the Premises or the Building necessitated by the negligence or willful misconduct of Tenant, its agents,
employees, and invitees, subject to Article 9.3 concerning waiver of subrogation rights.

 

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(iii)        Any
maintenance, repairs or alterations required under Tenant's obligation to comply with all applicable Laws as set forth in this
Lease; it being understood that Tenant shall have no obligation to pay for or perform any alterations or improvements to the Premises
that are necessary to comply with any applicable Laws, unless such alterations or improvements are triggered by Tenant’s
specific and unique use of the Premises (and are not of general applicability to tenants of the Building) or any alterations or
improvements to the Premises made and paid for by Tenant.

 

(iv)        Tenant
acknowledges that Landlord cannot guarantee security of the Premises, Building or common areas, and Tenant shall be responsible
for securing the Premises and otherwise implementing security measures for the safety of its employees and visitors.

 

(v)         Installation
and monthly payments of telephone and computer/internet services, and any approved modifications, shall be paid directly by Tenant
to the service provider. Tenant acknowledges by the execution of this Lease that it has adequate funds to pay Rent and Additional
Rent and otherwise perform its obligations under this Lease.

 

7.2.          Building
Maintenance Requests. All building maintenance problems shall be directed to Landlord at ***. Contact the University 24-hour
Security Desk at *** during University holidays and after-hour emergencies only.

 

7.3.          Keys.
All keys issued to Tenant are the property of the State of Colorado and may not be copied. Tenant may obtain keys from JSCBB Building’
Director of Operations. Upon termination of this Lease, Tenant shall deliver to Landlord keys which operate all locks on the exterior
or interior of the Premises, including without limitation, keys to locks on cupboards and closets. Tenant shall retrieve all keys
to the Premises which Tenant has delivered to employees or others, and include same with the keys delivered to Landlord.

 

ARTICLE 8. – TENANT ALTERATIONS AND
LIENS

 

8.1.          Tenant
Alterations. Except as provided otherwise herein, Tenant shall not make any alterations, additions or improvements to the Premises
without the prior written consent of Landlord. If Landlord consents to such alterations, additions or improvements, the parties
shall at the time agree in writing as to whether the whole or any part of the alterations, additions or improvements will at the
expiration or earlier termination of the Term be left in place on the Premises or removed from the Premises by and at the expense
of Tenant. Tenant shall be responsible for paying on or before the date due all costs and expenses for any such alterations, additions
and improvements.

 

8.2.          Work
Performed by Landlord. If Tenant wishes to engage Landlord’s Facilities Management Department (“FM”)
to perform alterations/modifications or improvements, then Tenant shall submit a work order to Landlord, including a description
of work and attached plans, for approval in advance. Tenant shall be responsible for all FM charges related to Tenant’s requested
work performed.

 

8.3.          Work
Performed by Tenant. If Tenant wishes to contract outside of the University for alterations/modifications or
improvements, then Tenant must submit the names of all contractors and subcontractors performing work and detailed plans to
Landlord for review and approval and evaluation by the EH&S and FM. Further, Tenant is responsible for securing a
building permit and to ensure all planned work is in accordance with building codes and standards as required by the
University of Colorado and the State of Colorado. Tenant shall pay all reasonable Landlord expenses for reviews, approvals,
building permits and inspections of completed project work by EH&S and FM. Tenant’s contractors and subcontractors
shall satisfy Landlord’s insurance requirements, and provide certificates of such insurance to Landlord prior to
commencing any work in the Premises.

 

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8.4.          Liens.
Tenant shall keep the Premises and the Building free from all liens arising out of any work performed, materials furnished or obligations
incurred by or for Tenant. Tenant shall have the right to contest the correctness or validity of any lien if, immediately on demand
by Landlord, Tenant deposits with Landlord and/or any appropriate court or title insurance company a bond or sum of money sufficient
to allow issuance of title insurance against the lien and/or to comply with the statutory requirements for discharge of the lien
found in § 38-22-131 and § 38- 22-132, Colorado Revised Statutes, or any successor statutory provision. Landlord shall
have the right to require Tenant's contractor(s), subcontractors and materialmen to furnish to both Tenant and Landlord adequate
lien waivers on work or materials paid for, in connection with all periodic or final payments, by endorsement on checks, making
of joint checks, or otherwise, and Landlord shall have the right to review invoices prior to payment. Tenant's failure to act in
accordance with the foregoing shall be an event of default and Landlord may, in addition to other remedies, pay such amounts, which
together with reasonable attorneys' fees incurred and interest, shall be immediately due to Landlord upon notice. Landlord reserves
the right to post notices on the Premises that Landlord is not responsible for payment of work performed and that Landlord's interest
is not subject to any lien.

 

ARTICLE 9. – INSURANCE

 

9.1.          Tenant’s
Insurance. During the Term, Tenant will obtain and maintain at its own expense and for the duration of the Lease, insurance
policies with the minimum insurance coverages set forth below in Article 9.2 with companies licensed or approved to do business
within the State of Colorado and having an A.M. Best Rating that is acceptable to Landlord. All policies must be written on
a per occurrence basis. By requiring such minimum insurance, Landlord shall not be deemed or construed to have assessed the risk
that may be applicable to Tenant under this Lease. Tenant shall assess its own risks and if it deems appropriate and/or prudent,
maintain higher limits and /or broader coverages. Neither Tenant nor its sub-contractors, under this Lease, are relieved of any
liability or other obligations assumed or pursuant to the Lease by reason of its failure to obtain or maintain insurance in sufficient
amounts, duration, or types. Tenant and any persons employed by Tenant for the performance of work hereunder shall be independent
contractors and not agents of the University of Colorado. Landlord reserves the right to negotiate additional insurance requirements.

 

9.2.          Coverages.

 

(a)           Commercial
Property Insurance. Tenant agrees to carry insurance covering all of Tenant's leasehold improvements, alterations,
additions, trade fixtures, merchandise and personal property from time to time in, on or upon the Premises, at least as broad
as ISO Causes of Loss – Special Form Coverage and Equipment Breakdown Protection Coverage, including Flood
and Earthquake, against risks of direct physical loss or damage (commonly known as "all risk" and "boiler and
machinery") for the full replacement cost of Tenant's property located at the Premises, with a deductible amount not to
exceed $10,000.00. Any policy proceeds shall be used for the repair or replacement of the property damaged or destroyed
unless this Lease shall cease and terminate due to destruction of the Premises as provided below. Leasehold improvements
shall include all improvements above the concrete floor and below the concrete or steel roof deck and roof structure whether
completed specifically for Tenant or existing prior to the Commencement Date and those tenant improvements made by Tenant or
on Tenant's behalf by Landlord. It is understood and agreed that Tenant assumes all risk of damage to its own property
arising from any cause whatsoever, including without limitation loss by theft or otherwise.

 

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(b)           Commercial
General Liability Insurance.    Commercial general liability
insurance on an ISO most current form or its equivalent, with the following coverages:

 

 (i)          premises/operations;

 

(ii)         personal
injury / advertising injury with employee and contractual exclusions removed;

 

 (iii)        products and completed operations;

 

(iv)        liability
assumed under an insured contract (including defense costs assumed under contract);

 

 (v)         independent contractors;

 

(vi)        broad
form contractual liability specifically in support of, but not limited to, the indemnification provisions contained in this Lease;

 

 (vii)       broad form property damage; and

 

 (viii)      a separation of insureds clause.

 

Each policy
listed in this Article 9.2 (b) shall provide limits of not less than Two Million Dollars ($2,000,000) for general aggregate,
and products/completed operations aggregate, and not less than One Million Dollars ($1,000,000) for each occurrence limit and fire
damage (any one fire).

 

(c)            Workers'
Compensation Insurance. Workers' Compensation Insurance with the statutory limits and employer's liability insurance with limits
of not less than Five Hundred Thousand Dollars ($500,000) for each accident, One Million Dollars ($1,000,000) for disease-policy
limit, and Five Hundred Thousand Dollars ($500,000) for disease--each employee. Policy must include (a) Other States endorsement
to include Colorado if business is domiciled outside the State of Colorado, and (b) a waiver of all rights of subrogation
in favor of Landlord.

 

(d)            Automobile
Liability Insurance. Automobile Liability Insurance covering all owned, non-owned or hired vehicles, with coverage for at least
One Million Dollars ($1,000,000) Combined Single Limit Bodily Injury and Property Damage.

 

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(e)           Umbrella/Excess
Liability Insurance. Umbrella/Excess Liability Insurance with limits of not less than Five Million Dollars ($5,000,000)
per occurrence and aggregate and (1) providing coverage in excess of the coverages of, and
(2) “following form” subject to the same provisions as, the underlying policies required in Article 9.2
(a), (b), and (c) above.

 

All such insurance
shall be carried in the name of Tenant. All of Tenant’s insurance policies required by this Lease (i) shall be written
on a primary basis, non-contributory with any other insurance coverages and/or self-insurance carried by the University of Colorado,
and (ii) shall (with the exception of Worker’s Compensation and Employer’s Liability policies under Article 9.2(c)),
at all times during the Term name The Regents of the University of Colorado, a body corporate and The University of Colorado (i) as
loss-payees and additional named insureds to the full limits of insurance purchased, even if those limits exceed those required
by this Lease, and (ii) as additional insureds, as respects to the general liability policy.

 

Tenant shall
provide Landlord with a certificate of insurance evidencing all required coverages, before the Commencement Date. The certificate
holder shall be: The Regents of the University of Colorado, a body corporate, 1800 Grant St., Suite 700, Denver, Colorado
80203. Upon Landlord’s request Tenant must provide a copy of the actual insurance policy and/or required endorsement effecting
coverage(s) required by this Lease. Tenant shall notify Landlord of any cancellation, or reduction in coverage or limits of
any insurance within seven (7) days or receipt of insurer’s notification to that effect. Failure of Tenant to fully
comply with these requirements during the Term of this Lease may be considered a material breach of contract and may be cause for
immediate termination of the Lease at the option of Landlord.

 

9.3.          Waiver
of Subrogation. Landlord and Tenant (to the extent Tenant is authorized by the Constitution and laws of the State of Colorado)
each agree that with respect to any third– party insurance policy maintained, or required to be maintained, by it under this
Lease, such policy of insurance shall contain a waiver of the insurer’s subrogation rights with respect to any amounts paid
under such policy or policies. Landlord and Tenant each agree to (i) immediately give written notice to each insurance company
that has issued to it, or in the future issues to it, policies of insurance with respect to this Lease; (ii) cause such insurance
policies to be properly endorsed, as necessary, to evidence the waiver of the insurer’s subrogation rights; and (iii) provide
reasonable proof of such waiver of subrogation rights to the other party. Further, to the extent of insurance proceeds received,
the parties respectively waive and release any and all claims against the other party for damages caused or contributed to by the
other party.

 

9.4.          Indemnification.
Tenant shall indemnify and hold Landlord Indemnified Parties harmless from and against any and all losses, costs (including reasonable
attorney’s fees), damages, liabilities and expenses (collectively, “Losses”) incurred by the Landlord
Indemnified Parties as a result of claims, demands, penalties or prosecutions, caused by, allegedly caused by or contributed to
by the acts or omissions of Tenant, its employees or agents, and shall defend on behalf of the Landlord Indemnified Parties any
suit brought against the Landlord Indemnified Parties for any such Loss and shall reimburse Landlord in connection therewith. Tenant
agrees that the insurance requirements specified in this Lease do not reduce the liability Tenant has assumed in this Article 9.4.

 

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ARTICLE 10. – FIRE AND CASUALTY

 

10.1.       Fire
and Casualty. It shall be Tenant’s sole and exclusive responsibility to meet all fire regulations of any governmental
unit having jurisdiction over the Premises to the extent such regulations affect Tenant’s operations, at Tenant’s sole
expense. In the event of a fire or other casualty in the Premises, Tenant shall immediately give notice thereof to Landlord. If
the Premises shall be destroyed by fire or other casualty so as to render the Premises untenantable, the rental herein shall be
reduced proportionally to the portion of the Premises rendered untenantable until such time as the Premises are made tenantable
by Landlord. If from such cause the same shall be so damaged that Landlord shall decide not to rebuild, then all rent and other
sums owed hereunder up to the time of such destruction or casualty shall be paid by Tenant, and thenceforth this Lease shall cease
and come to an end.

 

ARTICLE 11. – CONDEMNATION

 

11.1.      Condemnation.
In the event that the Premises or any part thereof are taken or condemned or are conveyed under the threat of eminent domain, at
Landlord’s option, the Lease may be terminated as of the date of such taking or conveyance.

 

ARTICLE 12. – TAXES

 

12.1.       Tenant’s
Obligations. Tenant shall be liable for and shall pay, prior to delinquency, any taxes that are generated by Lease for possessory
interest due to the operation of a for-profit organization operating on tax exempt owned property. Tenant is responsible for any
and all taxes and assessments levied against Tenant’s personal property and trade fixtures placed by Tenant in or about the
Premises.

 

ARTICLE 13. – SUBLETTING AND ASSIGNING

 

13.1.       Sublease
and Assignment. Tenant shall not assign, sublease or otherwise transfer this Lease or any whole or part of the Premises to
any other person without the prior written consent of Landlord. No such assignment, subletting or transfer, if approved by Landlord,
shall relieve Tenant of its obligations hereunder, and the nonperformance of any of Tenant's obligations hereunder, shall be considered
as nonperformance by Tenant. Any change in the ownership of Tenant shall be deemed a transfer hereunder and shall be subject to
Landlord’s prior written consent as provided herein. Tenant shall reimburse Landlord for all costs and expenses incurred
by Landlord in reviewing any request to sublease, assign or transfer.

 

ARTICLE 14. – SURRENDER OF PREMISES

 

14.1.        Condition
at Termination. All alterations, installations, additions and improvements made and installed and paid for by Landlord
shall be the property of Landlord and shall remain upon and be surrendered with the Premises as a part thereof at the end of
the Term of this Lease, unless otherwise designated by Landlord to be removed as provided herein. Upon the expiration or the
earlier termination of the Lease, Tenant shall deliver the Premises to Landlord in the same condition as when delivered to
Tenant, with the exception of reasonable wear and tear, or damage by casualty or condemnation, Landlord’s
maintenance, repair and replacement obligations hereunder, damage for which Tenant is not responsible under the terms of this
Lease, and alterations, additions or improvements required to be left in place as set forth in Article 4.1 above
excepted. Notwithstanding anything to the contrary herein, at the end of this Lease, Landlord shall have the option to
require Tenant to remove any or all such fixtures, equipment, additions, and/or alterations and restore the Premises to the
condition existing immediately prior to such change and/or installation, normal wear and tear expected, all at Tenant’s
cost and expense.

 

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14.2.        Surrender
of Premises. Tenant shall give written notice (“Surrender Notice”) to Landlord at least thirty (30) days
prior to vacating the Premises upon the natural expiration of this Lease (or such earlier time as may be expressly permitted hereunder)
and shall arrange to meet with Landlord for a joint inspection of the Premises prior to vacating.

 

If Tenant fails
to timely give the Surrender Notice or to arrange a joint inspection of the Premises, Landlord shall inspect the Premises no later
than ten (10) days following the date that Tenant vacates the Premises. On or before the tenth (10th) day following completion
of such inspection, Landlord shall provide to Tenant a written detailed itemization of Premises deficiencies that Tenant is obligated
to repair and restore. Landlord’s determination shall be deemed to be conclusive for purposes of determining Tenant’s
responsibility for repairs and restoration. Notwithstanding anything herein to the contrary, the provisions of this Article 14.2
shall expressly survive the expiration or termination of this Lease, or, if applicable, the earlier termination of Tenant’s
right to possession of the Premises.

 

14.3.        Checkout.
On or prior to the Expiration Date, or upon earlier termination of Tenant’s right to possession of the Premises, Tenant,
in compliance with applicable Law shall remove from the Premises, at Tenant’s sole expense, all Hazardous Materials located,
stored and disposed of on, under or about the Premises. Tenant shall close, remove or otherwise render safe any buildings, tanks,
containers or other facilities related to the Hazardous Materials Activities conducted or permitted on the Premises in the manner
required by all applicable Laws.

 

Checkout shall
include (i) the return of all keys issued to Tenant, (ii) the removal by Tenant of all of its equipment and personal
property from the Premises unless Landlord elects in writing to permit Tenant to not remove them and (iii) restoration of
the Premises as may be required pursuant to Article 14.1 above. Tenant shall leave the Premises in clean condition, absent
of any damage to walls, ceilings or floors. Tenant shall promptly repair any damage to the Premises, which is not normal wear.

 

ARTICLE 15. – DEFAULT &
CUMULATIVE REMEDIES

 

15.1.        Default
by Tenant. It shall be an event of default by Tenant under this Lease if Tenant fails to (i) pay any Rent or other
monetary obligation owing to Landlord under this Lease when due; (ii) perform any other obligation of this Lease for
more than thirty (30) days after Landlord delivers written notice of such default and demand for performance to Tenant,
provided that if such failure cannot be reasonably cured within said thirty (30) day period, Tenant shall not be in default
hereunder so long as Tenant commences curative action within such thirty (30) day period and diligently and continuously
pursues the curative action to completion; (iii) Tenant files a voluntary petition in bankruptcy or is adjudicated a
bankrupt or insolvent, or takes the benefit of any relevant legislation that may be in force for bankrupt or insolvent
debtors or files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or
proceedings are taken by Tenant under any relevant Bankruptcy Act in force in any jurisdiction available to Tenant, or Tenant
seeks or consents to or acquiesces in the appointment of any trustee, receiver or liquidator of Tenant or of all or any
substantial part of its properties or of the Premises, or makes any general assignment for the benefit of creditors; or
(iv) A petition is filed against Tenant seeking any reorganization, arrangement, composition, readjustment, liquidation,
dissolution or similar relief under any present or future federal, state or other statute, law or regulation, and shall
remain undismissed for an aggregate of 120 days, or if any trustee, receiver or liquidator of Tenant or of all or any
substantial part of its properties or of the Premises is appointed without the consent or acquiescence of Tenant and such
appointment remains unvacated for an aggregate of 20 days. Upon the occurrence of an event of default by Tenant, Landlord may
(to the extent permitted by the Laws of the State of Colorado) (i) terminate this Lease upon written notice to Tenant,
(ii) cure such default and be reimbursed by Tenant upon demand for the reasonable costs of such cure, and/or
(iii) exercise any other remedy available at law, in equity or by statute for such default. Reasonable attorneys' fees,
expert witness fees, consulting fees and other expenses incurred by Landlord by reason of the breach by Tenant in complying
with any of the agreements, terms, conditions or covenants of this Lease shall constitute additional sums to be paid to
Landlord on demand.

 

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15.2.       Cumulative
Remedies. No right or remedy herein conferred upon or reserved to a party is intended to be exclusive of any other right or
remedy set forth herein or otherwise available to the party, and every right and remedy shall be cumulative and in addition to
any other right or remedy given hereunder or now or hereafter existing at law, in equity or by statute.

 

ARTICLE 16. – NOTICES

 

16.1.       Notices.
Any notice or communication required or permitted in this Lease shall be given in writing, sent by (i) personal delivery,
with proof of delivery; (ii) nationally recognized overnight courier service that regularly maintains records of items delivered;
or (iii) United States mail, postage prepaid, registered or certified mail, return receipt requested, addressed as provided
in Article 1.1(b) or Article 1.1(d), as applicable, or to such other address or to the attention of such other person
as shall be designated from time to time in writing by the applicable party and sent in accordance herewith. Any such notice or
communication shall be deemed to have been given either at the time of personal delivery or, in the case of courier service or
mail, as of the date of first attempted delivery at the address and in the manner provided herein.

 

ARTICLE 17. – HOLDING
OVER

 

17.1.       Holding
Over. In the event that Tenant retains possession of the Premises after the expiration or the earlier termination of this Lease
without the written consent of Landlord, such possession shall constitute and be construed as a tenancy at sufferance on the same
terms, provisions, covenants and agreements of this Lease in effect as of the last day of the Term of the Lease; save and except,
however, that Rent for the period of such holdover shall be an amount equal to one hundred fifty percent (150%) of the Rent in
effect immediately preceding the expiration or earlier termination of the Term, prorated on a daily basis. In addition, Tenant
shall be liable to Landlord for any damages, penalties and other consequential damages incurred by Landlord as a result of such
holding over.

 

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ARTICLE 18. – MISCELLANEOUS PROVISIONS

 

18.1.       No
Waiver. No waiver by Landlord or by Tenant of any provision of this Lease shall be deemed to be a waiver by that party of
any other provision of this Lease. No waiver by a party of any breach of this Lease or event of default by the other party shall
be deemed a waiver of any subsequent breach of this Lease or event of default by that other party of the same or any other provision
of this Lease.

 

18.2.       Applicable
Law. This Lease shall be governed by and construed in accordance with the laws of the State of Colorado.

 

18.3.       Colorado
Governmental Immunity Act. It is specifically understood and agreed that nothing contained in this Lease shall be construed
as an express or implied waiver by Landlord of its governmental immunity or of the governmental immunity of the State of Colorado,
as an express or implied acceptance by Landlord of liabilities arising as a result of actions which lie in tort or could lie in
tort in excess of the liabilities allowable under the Colorado Governmental Immunity Act, C.R.S. §§ 24-10-101 et
seq., as a pledge of the full faith and credit of the State of Colorado, or as the assumption by Landlord of a debt, contract
or liability of Tenant, in violation of the Constitution of Colorado.

 

18.4.       Successors
and Assigns. Subject to any provision hereof restricting assignment, subletting and other transfer by Tenant, all of the covenants,
conditions and provisions of this Lease shall be binding upon and shall inure to the benefit of the parties hereto and their respective
heirs, personal representatives, successors and assigns.

 

18.5.       Force
Majeure. If the performance by a party of any provision of this Lease is delayed or prevented by events including, but not
limited to, acts of God or the public enemy, acts of the state or the United States in either its sovereign or contractual capacity,
earthquakes, fires, floods, epidemics, strikes, acts of war or terrorism, and unusually severe weather (“Force Majeure”),
then, except as otherwise provided in this Lease, the period for the party's performance of the provision shall be automatically
extended for the same amount of time that the party is so delayed or hindered. However, this paragraph shall not relieve a party
from its obligations hereunder to pay monies or funds when due. In any case, delay or failure to perform under this Lease must
be beyond the reasonable control of and without the fault or negligence of the party.

 

18.6.       Severability.
If any provision in this Lease is held by a court with jurisdiction to be invalid or inoperative, the remainder of this Lease
shall not be affected by that holding and, so far as is reasonable and possible, effect shall be given to the intent manifested
in the portion held invalid or inoperative.

 

18.7.       Amendment.
This Lease may be amended, modified or supplemented only by an instrument in writing executed by all parties hereto.

 

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18.8.       Interpretation
of Lease. Each party and its counsel have reviewed and revised this Lease after arms-length negotiations. Accordingly, the
rule of construction that ambiguities are resolved against the drafting party shall not apply to this Lease or any amendments
hereof.

 

18.9.       Headings.
The captions in this Lease are for convenience only and shall not be deemed to define, limit or affect in any way the scope, meaning,
intent or extent of this Lease or any part of it.

 

18.10.     Authority.
Each party represents and warrants that (a) such party has the full power and authority to enter into this Lease and to perform
its provisions and (b) the person signing on behalf of such party has been duly authorized by such party to sign this Lease
on its behalf.

 

18.11.     Entire
Agreement. This Lease contains all of the agreements of the parties hereto with respect to the transaction contemplated in
this instrument and supersedes any prior understandings or written or oral agreements between the parties concerning the subject
matter of this Lease.

 

18.12.     No
Third Party Beneficiaries. No beneficial rights are given to any third parties by or under this Lease.

 

18.13.     Time
of the Essence. Except as otherwise provided in this Lease, time is of the essence in the performance of each and every provision
in this Lease.

 

18.14.     Counterparts.
This Lease may be executed in a number of counterparts, each of which for all purposes shall be deemed an original and all of
which, when taken together, shall constitute one and the same instrument.

 

18.15.     OFAC.
Each party represents and certifies to the other that (a) it is not a person and/or entity with whom United States (“U.S.”)
persons or entities are restricted from doing business under U.S. law, executive power, or regulation promulgated thereunder by
any regulatory body; (b) no person or entity named on any U.S. list of specially designated nationals or blocked persons
has any direct interest in it such that the direct investment in it is prohibited by any U.S. law; (c) it is not in violation
of any U.S. money laundering law; and (d) none of its funds have been derived from unlawful activity such that the direct
investment in it is prohibited by U.S. law. The foregoing are ongoing covenants of each party. Each party shall immediately advise
the other party of any change in the status or accuracy of such representations, and upon request each party shall recertify such
representations and certify in writing the identity of all entities and individuals owning or controlling it.

 

18.16.     Exhibits
and Attachments. All exhibits, attachments, riders and addenda referred to in this Lease are incorporated in this Lease and
made a part hereof for all intents and purposes.

 

18.17.     Export
Control Regulations. Tenant is responsible for ensuring that it complies with all applicable export control laws, and Tenant
hereby represents, warrants and covenants that Tenant will ensure that neither Landlord nor Landlord’s employees, students
or visitors are exposed to any equipment or information that is export controlled, without first identifying the controls related
to such information and/or equipment and obtaining Landlords’ prior written consent.

 

    17

     

    

 

18.18.     Extinguishment
and Replacement. This Lease extinguishes and replaces any prior leases between the parties related to the Premises upon the
Commencement Date hereof.

 

AND IT IS
FURTHER EXPRESSLY UNDERSTOOD AND AGREED that all the covenants and agreements in this Lease contained shall extend to and be binding
upon the legal representatives and assigns of the respective parties hereto.

 

IT IS FURTHER
AGREED that no assent, expressed or implied, to any breach of any one or more of the covenants or agreements hereof shall be deemed
or taken to be a waiver of any succeeding or other breach.

 

[Signatures appear on following page]

 

    18

     

    

 

IN WITNESS
WHEREOF, Tenant has signed this Lease and Landlord has signed this Lease by their duly authorized representatives.

 

	TENANT:	 
	 	 
	 	 
	EDGEWISE THERAPEUTICS, INC.,	 
	a Delaware corporation	 
	 	 
	BY:	/s/ Kevin Koch	 
	 	Kevin Koch	 
	ITS:	CEO	 
	 	 
	DATE:	6/26/2020	 

 

[Landlord signatures appear on the following
page]

 

    19

     

    

 

	LANDLORD:	 	 
	 	 	 
	THE REGENTS OF THE UNIVERSITY
    OF 

    COLORADO, a body corporate	 	OFFICE OF PROVOST AND EXECUTIVE VICE CHANCELLOR FOR ACADEMIC AFFAIRS
	 	 	 
	BY: 	/s/
    David Kang	 	BY: 	/s/ Ann Schmiesing
	 	David Kang	 	 	Ann Schmiesing
	 	 	 
	ITS: 	Vice Chancellor for Infrastructure &
    Sustainability	 	ITS: 	Executive Vice Provost for Academic Resource Management
	 	 	 
	DATE: 	7/21/2020	 	DATE: 	7/6/2020

 	THE BIOFRONTIERS INSTITUTE	 	RESEARCH & INNOVATION OFFICE      
	 	 	                                                            
	BY: 	/s/ Thomas R. Cech	 	BY:	/s/ Terri
    Fiez                                                         
	 	Thomas R. Cech	 	 	Terri Fiez                                           
	      	 	                                                             
	ITS: 	Director	 	ITS: 	Vice Chancellor for Research & Innovation
	 	 	       
	DATE: 	6/26/2020	 	DATE: 	7/10/2020

 

	I have reviewed this lease and recommend approval and execution	 	Approved as to Legal
Sufficiency Office of University Counsel
	 	 	 
	BY: 	/s/ Rebecca Fell	 	BY:	/s/ Alex Loyd                                                         
	 	Rebecca Fell	 	 	 
	 	 	 	
	ITS:	Interim Executive Director of Real Estate Services	 	DATE:	6/30/2020
	 	 	 
	DATE: 	7/10/2020	 		 

 

    20

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