Document:

Exhibit

AMENDMENT NO. 2
TO
OFFICE LEASE AGREEMENT

THIS AMENDMENT NO. 2 TO THE OFFICE LEASE AGREEMENT (“Second Amendment”) is made and entered into effective as of February 1, 2016 (“Effective Date”), by and between BLUME ROY  BUILDING LLC, a Washington  Limited Liability Company,  ("Landlord") and NANOSTRING TECHNOLOGIES, INC., a Delaware corporation ("Tenant").  

RECITALS

A.    Landlord and Tenant entered into a written Lease Agreement dated December 26, 2013 ("Lease"), and Lease Amendment dated November 18, 2014 wherein Tenant rented from Landlord certain premises located at 617 Eastlake Avenue East, Suites #410 and #500, Seattle, WA, King County, 98109 (“Premises”).
    
B.    Landlord and Tenant have agreed to modify the Lease to increase size of Premises and to extend the Lease Term.

NOW, THEREFORE, in consideration of the foregoing, together with other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant agree as follows:

1.    The Premises consisting of Suites #410 and #500 shall be increased by an additional 6,604 rentable square feet of space known as Suite #110, as depicted in Exhibit A, on March 1, 2016.

2.    As of March 1, 2016, Section 2 of Lease Amendment No. 1 shall be modified to reflect the following:

The Premises

(a)  Total Rentable Area:        29,685 sq. ft.*
* Total Rentable Area will be adjusted to 27,728 if LabKey properly exercises its right to expand into that certain 1,957 rentable square feet of space referred to as Space B in the Initial Lease.         
(b)  Floor Location:        Floors Four, Five and One                    
(c)  Suite Number(s):        410, 500 and 110                    

3.    The Term of the Lease is hereby extended for a period of one hundred thirty two (132) full calendar months, running from March 1, 2016 through January 31, 2026.

4.    Effective March 1, 2016 through June 30, 2016, rent shall be abated for suite 110.  As of March 1, 2016, Basic Rent outlined in Section 4 Table A of Lease Amendment No. 1 shall be modified to reflect the following.          

Table A
	
				
	For 29,685
	 
	 
	 

	Period
	RSF
	Monthly Rent
	 PSF

	3/1/16 - 6/30/16
	23,081
	$63,472.75
	$33.00

	7/1/16 - 2/28/17
	29,685
	$81,633.75
	$33.00

	3/1/17 - 2/28/18
	29,685
	$83,489.06
	$33.75

	3/1/18 - 2/28/19
	29,685
	$85,344.38
	$34.50

	3/1/19 - 2/29/20
	29,685
	$87,199.69
	$35.25

	3/1/20 - 2/28/21
	29,685
	$89,055.00
	$36.00

	3/1/21 - 2/28/22
	29,685
	$90,910.31
	$36.75

	3/1/22 - 2/28/23
	29,685
	$92,765.63
	$37.50

	3/1/23 - 2/29/24
	29,685
	$94,620.94
	$38.25

	3/1/24 - 2/28/25
	29,685
	$96,476.25
	$39.00

	3/1/25 - 2/28/26
	29,685
	$98,331.56
	$39.75

1

Table B
	
				
	For 27,728
	 
	 
	 

	Period
	RSF
	Monthly Rent
	 PSF

	3/1/16 - 6/30/16
	23,081
	$63,472.75
	$33.00

	7/1/16 - 2/28/17
	29,685
	$81,633.75
	$33.00

	9/1/16 - 2/28/17
	27,728
	$76,252
	$33.00

	3/1/17 - 2/28/18
	27,728
	$77,985
	$33.75

	3/1/18 - 2/28/19
	27,728
	$79,718
	$34.50

	3/1/19 - 2/29/20
	27,728
	$81,451.00
	$35.25

	3/1/20 - 2/28/21
	27,728
	$83,184
	$36.00

	3/1/21 - 2/28/22
	27,728
	$84,917
	$36.75

	3/1/22 - 2/28/23
	27,728
	$86,650
	$37.50

	3/1/23 - 2/29/24
	27,728
	$88,383
	$38.25

	3/1/24 - 2/28/25
	27,728
	$90,116
	$39.00

	3/1/25 - 2/28/26
	27,728
	$91,849
	$39.75

5.    As of the March 1, 2016, Section 5 of Lease Amendment No. 1 shall be modified to reflect the following:    
(a)  Tenant’s Proportionate Share:    36%*
*Tenant’s Proportionate Share will be adjusted to 34% if LabKey properly exercises its right to expand into that certain 1,957 rentable square feet of space referred to as Space B in the Initial Lease.  

6.    Tenant Improvements.  Landlord shall provide a tenant improvement allowance of $66,040.00.  Tenant may allocate up to 25% of the allowance toward Suite 410, Suite 500, soft costs, or rent credit.  The tenant improvement allowance shall remain available to Tenant through February 28, 2018.

7.    Parking.  In addition to the parking spaces stipulated in the Initial Lease, and Lease Amendment No. 1, Tenant shall have the right but not the obligation to enter into parking contracts for ten (10) additional parking stalls, in the building’s underground parking facility at monthly market rates (currently $250 per stall per month).  

8.    Brokers.  Tenant warrants to Landlord that Tenant has not dealt with any brokerage company in connection with the negotiation or execution of this First Amendment other than Flinn Ferguson.  Tenant’s broker shall be compensated by Landlord in connection with this Second Amendment pursuant to a separate agreement.  Landlord and Tenant shall each indemnify, defend, and hold the other harmless from and against all costs, expenses, attorneys’ fees, liens, and other liability for commissions or other compensation claimed by any other broker or agent claiming the same by, through, or under such party, other than such party’s broker.  The foregoing indemnity shall survive the expiration or earlier termination of the Lease.  

9.    Effective Date of Modifications.  The amendments and modifications provided for in this Second Amendment shall be effective upon the mutual execution and delivery of this Second Amendment, except as otherwise expressly set forth in this Second Amendment.

10.    Ratification.  Except as specifically modified as set forth in this Second Amendment, Landlord and Tenant ratify and confirm the Initial Lease and all provisions contained therein as originally executed.

2

IN WITNESS WHEREOF, this First Amendment is executed effective as of the day and year first written above.

		
	TENANT:
	NANOSTRING TECHNOLOGIES, INC.,

a Delaware corporation

By:/s/ Wayne Burns______________
WAYNE BURNS
SVP Operations & Administration

		
	LANDLORD:
	BLUME ROY BUILDING LLC, 

a Washington limited liability company

By:/s/ Bruce M. Blume_____________
BRUCE M. BLUME
Manager
            

3

TENANT’S ACKNOWLEDGEMENT

STATE OF WASHINGTON    )
)  ss.
COUNTY OF KING        )

I certify that I know or have satisfactory evidence that the person appearing before me and making this acknowledgement is the person whose true signature appears on this document.

On this __1___ day of     February , 2016, before me before me personally appeared WAYNE BURNS to me known to be the SVP Operations & Administration of NANOSTRING TECHNOLOGIES, INC., the Delaware corporation that executed the within and foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned, and on oath stated that he/she  was authorized to execute said instrument and that the seal affixed, if any is the corporate seal of said corporation.

WITNESS my hand and official seal hereto affixed the day and year first above written.

/s/ Julia Chandler                    
Notary Public in and for the State of     WA    ,
residing at   Seattle, WA                
My commission expires: September 18, 2018    
Julia Chandler                    
[Type of Print Notary Name]

(Use This Space for Notarial Seal Stamp)

LANDLORD'S ACKNOWLEDGEMENT

STATE OF WASHINGTON    )
)  ss.
COUNTY OF KING        )

I certify that I know or have satisfactory evidence that the persons appearing before me and making this acknowledgment are the persons whose true signatures appear on this document.

On this _2nd___ day of      February , 2016, before me personally appeared BRUCE M. BLUME, to me known to be the Manager of BLUME ROY BUILDING LLC, the Washington limited liability company that executed the within and foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said limited partnership, for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument.

WITNESS my hand and official seal hereto affixed the day and year first above written.

/s/ Tara Raymond                    
Notary Public in and for the State of     WA    ,
residing at   Seattle, WA                
My commission expires: April 20, 2016        
Tara Raymond                    
[Type of Print Notary Name]

(Use This Space for Notarial Seal Stamp)

4

EXHIBIT A

5firstamendmenttoregionsc

   DMSLIBRARY01\28664532.v4   FIRST AMENDMENT TO CREDIT AGREEMENT       THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), is   made and entered into as of April 27, 2016, by and among ORION MARINE GROUP, INC., a   Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower designated as   “Guarantors” on the signature pages hereof (together with the Borrower, the “Credit Parties”),   the Lenders (as defined below) party hereto constituting the Required Lenders (as defined in the   Credit Agreement as defined below), and REGIONS BANK, as administrative agent and   collateral agent for the Lenders (in such capacity, the “Agent”).      W I T N E S S E T H:      WHEREAS, the Borrower, the Guarantors, certain banks and other financial institutions   from time to time party thereto (the “Lenders”) and the Agent are parties to a certain Credit   Agreement, dated as of August 5, 2015 (as may be amended, restated, supplemented, increased,   extended or otherwise modified from time to time, the “Credit Agreement”; capitalized terms   used herein and not otherwise defined shall have the meanings assigned to such terms in the   Credit Agreement), pursuant to which the Lenders have made loans and certain other financial   accommodations available to the Borrower; and   WHEREAS, the Borrower has requested that the Required Lenders and the Agent amend   certain provisions of the Credit Agreement, and subject to the terms and conditions hereof, the   Required Lenders and the Agent are willing to do so.    NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt   of which are acknowledged, the Borrower, the Guarantors, the Required Lenders and the Agent   agree as follows:      1. Amendments.     (a) Section 1.1 of the Credit Agreement is amended by adding the following   definitions in the appropriate alphabetical order:   “Bail-In Action” means the exercise of any Write-Down and Conversion Powers   by the applicable EEA Resolution Authority in respect of any liability of an EEA   Financial Institution.   “Bail-In Legislation” means, with respect to any EEA Member Country   implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the   Council of the European Union, the implementing law for such EEA Member Country   from time to time which is described in the EU Bail-In Legislation Schedule.   “EEA Financial Institution” means (a) any credit institution or investment firm   established in any EEA Member Country which is subject to the supervision of an EEA   Resolution Authority, (b) any entity established in an EEA Member Country which is a   parent of an institution described in clause (a) of this definition, or (c) any financial   institution established in an EEA Member Country which is a subsidiary of an institution     

 

   DMSLIBRARY01\28664532.v4 2   described in clauses (a) or (b) of this definition and is subject to consolidated supervision   with its parent.    “EEA Member Country” means any of the member states of the European Union,   Iceland, Liechtenstein, and Norway.   “EEA Resolution Authority” means any public administrative authority or any   person entrusted with public administrative authority of any EEA Member Country   (including any delegee) having responsibility for the resolution of any EEA Financial   Institution.   “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule   published by the Loan Market Association (or any successor person), as in effect from   time to time.    “Write-Down and Conversion Powers” means, with respect to any EEA   Resolution Authority, the write-down and conversion powers of such EEA Resolution   Authority from time to time under the Bail-In Legislation for the applicable EEA   Member Country, which write-down and conversion powers are described in the EU   Bail-In Legislation Schedule.   (b) Section 1.1 of the Credit Agreement is amended by amending and restating the   pricing grid set forth in the definition of “Applicable Margin” in its entirety as follows:   Pricing   Level   Consolidated Leverage Ratio Adjusted LIBOR Rate Loans   and Letter of Credit Fee   Base Rate   Loans   Commitment   Fee   1 Less than 1.50 to 1.00      1.75% 0.75% 0.375%   2 Greater than or equal to 1.50   to 1.00 but less than 2.00 to   1.00   2.00% 1.00% 0.375%   3 Greater than or equal to 2.00   to 1.00 but less than 2.75 to   1.00   2.50% 1.50% 0.500%   4 Greater than or equal to 2.75   to 1.00 but less than 3.25 to   1.00   3.00% 2.00% 0.500%   5 Greater than or equal to 3.25  3.50% 2.50% 0.500%      (c) Section 1.1 of the Credit Agreement is amended by amending and restating clause   (d) of the definition of “Defaulting Lender” therein in its entirety as follows:     (d) has, or has a direct or indirect parent company that has, (i) become the subject   of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver,   custodian, conservator, trustee, administrator, assignee for the benefit of creditors   or similar Person charged with reorganization or liquidation of its business or   assets, including the Federal Deposit Insurance Corporation or any other state or   federal regulatory authority acting in such a capacity or (iii) become the subject of     

 

   DMSLIBRARY01\28664532.v4 3   a Bail-in Action; provided that a Lender shall not be a Defaulting Lender solely   by virtue of the ownership or acquisition of any equity interest in that Lender or   any direct or indirect parent company thereof by a Governmental Authority so   long as such ownership interest does not result in or provide such Lender with   immunity from the jurisdiction of courts within the United States or from the   enforcement of judgments or writs of attachment on its assets or permit such   Lender (or such Governmental Authority) to reject, repudiate, disavow or   disaffirm any contracts or agreements made with such Lender.   (d) Section 1.1 of the Credit Agreement is amended by adding a new clause (e) to the   definition of “Permitted Acquisition” to read as set forth below, changing the existing clause (e)   thereof to clause “(f)” and amending and restating the new clause (f) as set forth below and   making all necessary grammatical adjustments thereto:   (e) immediately before and immediately after giving effect to such   Acquisition on a Pro Forma Basis, the Consolidated Leverage Ratio shall not exceed 2.50   to 1.00; and   (f) (i) no Default or Event of Default shall exist and be continuing   immediately before or immediately after giving effect thereto, (ii) the representations and   warranties made each of the Credit Parties in each Credit Document shall be true and   correct in all material respects as if made on the date of such Acquisition (after giving   effect thereto) except to the extent such representations and warranties expressly relate to   an earlier date, (iii) after giving effect thereto on a Pro Forma Basis, (1) the Borrower   shall be in compliance with the financial covenants set forth in clauses (a) and (b) of   Section 8.8 and (2) the Consolidated Leverage Ratio shall be at least 0.25 to 1.00 less   than the then applicable Consolidated Leverage Ratio covenant level set forth in Section   8.8(a) and (iv) at least five (5) Business Days prior to the consummation of such   Acquisition, an Authorized Officer of the Borrower shall provide a compliance   certificate, in form and detail reasonably satisfactory to the Administrative Agent,   affirming compliance with each of the items set forth in clauses (a) through (f) hereof.   (e) Subsection 2.16(a)(iv) of the Credit Agreement is amended by amending and   restating the last sentence in such Subsection in its entirety as follows:   Subject to Section 11.21, no reallocation hereunder shall constitute a waiver or   release of any claim of any party hereunder against a Defaulting Lender arising   from that Lender having become a Defaulting Lender, including any claim of a   Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased   exposure following such reallocation.   (f) Section 8.8 of the Credit Agreement is amended by amending and restating clause   (a) thereof in its entirety as follows:   (a) Consolidated Leverage Ratio.  Permit the Consolidated Leverage Ratio as   of the end of any Fiscal Quarter of the Borrower (i) occurring during the period from the     

 

   DMSLIBRARY01\28664532.v4 4   Closing Date through and including December 31, 2015, to exceed 3.25 to 1.00 and (ii)   thereafter, to exceed the correlative ratio set forth below:    Fiscal Quarter Ending Consolidated Leverage Ratio   March 31, 2016 4.00 to 1.00   June 30, 2016 3.75 to 1.00   September 30, 2016 3.25 to 1.00   December 31, 2016 3.00 to 1.00   March 31, 2017 2.75 to 1.00   June 30, 2017 and each Fiscal Quarter   thereafter   2.50 to 1.00      (g) Section 11 of the Credit Agreement is hereby amended by adding a new Section   11.21 to read as follows:    Section 11.21 Acknowledgement and Consent to Bail-In of EEA Financial   Institutions.   Notwithstanding anything to the contrary in any Loan Document or in any   other agreement, arrangement or understanding among any such parties, each party   hereto acknowledges that any liability of any EEA Financial Institution arising under any   Loan Document, to the extent such liability is unsecured, may be subject to the write-   down and conversion powers of an EEA Resolution Authority and agrees and consents   to, and acknowledges and agrees to be bound by:   (a) the application of any Write-Down and Conversion Powers by an EEA   Resolution Authority to any such liabilities arising hereunder which may be payable to it   by any party hereto that is an EEA Financial Institution; and   (b) the effects of any Bail-in Action on any such liability, including, if   applicable:   (i) a reduction in full or in part or cancellation of any such liability;   (ii) a conversion of all, or a portion of, such liability into shares or   other instruments of ownership in such EEA Financial Institution, its parent   undertaking, or a bridge institution that may be issued to it or otherwise conferred   on it, and that such shares or other instruments of ownership will be accepted by it   in lieu of any rights with respect to any such liability under this Agreement or any   other Loan Document; or     

 

   DMSLIBRARY01\28664532.v4 5   (iii) the variation of the terms of such liability in connection with the   exercise of the write-down and conversion powers of any EEA Resolution   Authority.   2. Conditions Precedent.  Completion of the following to the satisfaction of the   Agent and the Required Lenders, as evidenced by written notice to the Borrower, shall constitute   express conditions precedent to the effectiveness (or consummation, as such term is used in that   certain Waiver Letter, dated April 1, 2015, from the Administrative Agent and the Required   Lenders to the Credit Parties) of the amendments set forth in this Amendment (and the date on   which all of the foregoing shall have occurred as determined by the Agent being called herein the   “First Amendment Effective Date”):       (a) Executed Credit Documents.  Delivery of duly executed counterparts of this   Amendment in form and substance satisfactory to the Agent and the Required Lenders; and   (b) Fees and Expenses.  The Agent shall have confirmation that all fees and expenses   required to be paid on or before the First Amendment Effective Date have been paid, including   the fees and expenses of King & Spalding LLP.    3. Representations and Warranties. As of the First Amendment Effective Date,   after giving effect to this Amendment, the representations and warranties contained in the Credit   Agreement and in the other Credit Documents are true and correct in all material respects (or,   with respect to any such representation or warranty that is modified by materiality or Material   Adverse Effect, are true and correct in all respects) on and as of the First Amendment Effective   Date, except to the extent such representations and warranties specifically relate to an earlier   date, in which case such representations and warranties shall have been true and correct in all   material respects on and as of such earlier date, and no event has occurred and is continuing or   would result from the consummation of this Amendment and the transactions contemplated   hereby that would constitute an Event of Default or a Default.       4. Reaffirmation of Credit Party Obligations.  Each Credit Party hereby ratifies   the Credit Agreement, as amended hereby, and each other Credit Document to which it is a party   and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement, as   amended hereby, and such other Credit Documents applicable to it and (b) that it is responsible   for the observance and full performance of its respective Obligations.       5. Release of Claims and Covenant Not to Sue.        (a) On the First Amendment Effective Date, in consideration of the Required   Lenders’ and the Agent’s agreements contained in this Amendment, and for other good and   valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each   Credit Party, on behalf of itself and its successors and assigns, and its present and former   members, managers, shareholders, affiliates, subsidiaries, divisions, predecessors, directors,   officers, attorneys, employees, agents, legal representatives, and other representatives (each   Credit Party and all such other Persons being hereinafter referred to collectively as the   “Releasing Parties” and individually as a “Releasing Party”), hereby absolutely, unconditionally,     

 

   DMSLIBRARY01\28664532.v4 6   and irrevocably releases, remises, and forever discharges Agent, each Lender, and each of their   respective successors and assigns, and their respective present and former shareholders,   members, managers, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys,   employees, agents, legal representatives, and other representatives (Agent, Lenders, and all such   other Persons being hereinafter referred to collectively as the “Releasees” and individually as a   “Releasee”), of and from any and all demands, actions, causes of action, suits, damages, and any   and all other claims, counterclaims, defenses, rights of set-off, demands, and liabilities   whatsoever (individually, a “Claim” and collectively, “Claims”) of every kind and nature, known   or unknown, suspected or unsuspected, at law or in equity, which any Releasing Party or any of   its successors, assigns, or other legal representatives may now or hereafter own, hold, have, or   claim to have against the Releasees or any of them for, upon, or by reason of any circumstance,   action, cause, or thing whatsoever which arises at any time on or prior to the date of this   Amendment for or on account of, in relation to, or in any way in connection with this   Amendment, the Credit Agreement, any of the other Credit Documents, or any of the   transactions hereunder or thereunder.   (b) Each Credit Party understands, acknowledges, and agrees that the release set forth   above may be pleaded as a full and complete defense to any Claim and may be used as a basis   for an injunction against any action, suit, or other proceeding which may be instituted,   prosecuted, or attempted in breach of the provisions of such release.   (c) Each Credit Party agrees that no fact, event, circumstance, evidence, or   transaction which could now be asserted or which may hereafter be discovered will affect in any   manner the final, absolute, and unconditional nature of the release set forth above.   (d) On and after the First Amendment Effective Date, each Credit Party hereby   absolutely, unconditionally and irrevocably covenants and agrees with and in favor of each   Releasee that it will not sue (at law, in equity, in any regulatory proceeding, or otherwise) any   Releasee on the basis of any Claim released, remised, and discharged by any Credit Party   pursuant to clause (a) of this Section.  If any Credit Party violates the foregoing covenant, the   Borrower, for itself and its successors and assigns, and its present and former members,   managers, shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers,   attorneys, employees, agents, legal representatives, and other representatives, agrees to pay, in   addition to such other damages as any Releasee may sustain as a result of such violation, all   attorneys’ fees and costs incurred by any Releasee as a result of such violation.       6. Effect of Amendment.  Except as set forth expressly herein, all terms of the   Credit Agreement, as amended hereby, and the other Credit Documents shall be and remain in   full force and effect and shall constitute the legal, valid, binding and enforceable obligations of   the Borrower to the Lenders and the Agent.  The execution, delivery and effectiveness of this   Amendment shall not, except as expressly provided herein, operate as a waiver of any right,   power or remedy of the Lenders under the Credit Agreement or the other Credit Documents, nor   constitute a waiver of any provision of the Credit Agreement or the other Credit Documents.    This Amendment shall constitute a Credit Document for all purposes of the Credit Agreement.       7. Governing Law.  This Amendment shall be governed by, and construed in   accordance with, the internal laws of the State of New York.     

 

   DMSLIBRARY01\28664532.v4 7       8. No Novation.  This Amendment is not intended by the parties to be, and shall not   be construed to be, a novation of the Credit Agreement or an accord and satisfaction in regard   thereto.       9. Counterparts.  This Amendment may be executed by one or more of the parties   hereto in any number of separate counterparts, each of which shall be deemed an original and all   of which, taken together, shall be deemed to constitute one and the same instrument.  Delivery of   an executed counterpart of this Amendment by facsimile transmission or by electronic mail in   pdf form shall be as effective as delivery of a manually executed counterpart hereof.       10. Binding Nature.  This Amendment shall be binding upon and inure to the benefit   of the parties hereto, their respective successors, successors-in-titles, and assigns.       11. Entire Understanding.  This Amendment sets forth the entire understanding of   the parties with respect to the matters set forth herein, and shall supersede any prior negotiations   or agreements, whether written or oral, with respect thereto.      [Signature Pages To Follow]

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