Document:

exv10w26

 

Exhibit 10.26

nura,inc.

1124 Columbia Street

Suite 650

Seattle, WA 98014

October 20, 2003

Alexandria Equities, LLC (“Alexandria Equities”)

135 North Los Robles Ave.

Suite 250

Pasadena, CA 91101

			
	          Re:	 	Assignment and Assumption and Modification of Lease Documents (“Agreement”) is
made as of October 23, 2003 by and among ALEXANDRIA REAL ESTATE EQUITIES, INC., a
Maryland corporation (“Landlord”), PRIMAL, INC., a Washington corporation (“Tenant”)
and NURA, INC., a Delaware corporation (“Assignee”).

Dear Sirs:

     In connection with the execution and delivery of the captioned Agreement, the Assignee will
furnish to Alexandria Equities the following reports:

     (i) As soon as practicable after the end of each fiscal year of the Assignee, and in any event
within one hundred twenty (120) days after the end of each fiscal year of the Assignee, an audited
consolidated balance sheet of the Assignee and its subsidiaries, if any, as at the end of such
fiscal year, and audited consolidated statements of income and cash flows of the Assignee and its
subsidiaries, if any, for such year, prepared in accordance with U.S. generally accepted accounting
principles consistently applied, certified by an authorized officer of the Assignee; provided that
if Assignee’s Board of Directors determines that Assignee’s financial statement shall not be
audited in any fiscal year, then Assignee shall be permitted to furnish to Landlord unaudited
financial statements for such fiscal year;

     (ii) As soon as practicable after the end of the first, second and third quarterly accounting
periods in each fiscal year of the Assignee, and in any event within forty-five (45) days after the
end of the first, second, and third quarterly accounting periods in each fiscal year of the
Assignee, an unaudited consolidated balance sheet of the Assignee and its subsidiaries, if any, as
of the end of each such quarterly period, and unaudited consolidated statements of

 

 

Alexandria Equities, LLC (“Alexandria Equities”)

October 20, 2003

Page 2

income and cash flows of the Assignee and its subsidiaries, if any, for such period, prepared
in accordance with U.S. generally accepted accounting principles consistently applied, subject lo
changes resulting from normal year-end audit adjustments; and

     (iii) As soon as practicable after the date hereof, a written business plan of Assignee,
together with any amendments thereto as and when any such amendments become available.

     Alexandria Equities acknowledges and agrees that the information received by it pursuant to
this letter may be confidential and that it will not reproduce, disclose or disseminate such
information to any other person (other than its employees or agents having a need to know the
contents of such information, and its attorneys), unless the Assignee has made such information
available to the public generally.

	 	 	 	 	 
	Sincerely,

nura, inc.

 	 	 
	By:  	/s/ Patrick W. Gray
 	 	 
	Its: 	Chief Executive Officer 	 	 
	 	 	 	 
	 

Accepted and agreed this            day of October, 2003

Alexandria Equities, LLC,

a Delaware limited liability company

	 	 	 	 	 
	By: 	Alexandria Real Estate Equities, Inc.,

a Maryland corporation,

its managing member
 	 	 
	 
	By:  	/s/
illegible
signature
 	 	 
	Its: 	Chief Executive Officer 	 	 
	 	 	 	 

 

 

	 	 	 	 	 

ASSIGNMENT AND ASSUMPTION AND MODIFICATION OF LEASE DOCUMENTS

     This Assignment and Assumption and Modification of Lease Documents (this “Agreement”) is made as of
October 23, 2003 (the “Effective Date”), by and among ALEXANDRIA REAL ESTATE EQUITIES, INC., a
Maryland corporation (“Landlord”), PRIMAL, INC., a Washington corporation (“Tenant”), and NURA,
INC., a Delaware corporation (“Assignee”), with reference to the following Recitals.

RECITALS

     A. Landlord and Tenant are parties to that certain Lease Agreement, dated as of April 6, 2000, as
amended by that certain First Amendment to Lease, dated as of June 16, 2000, that certain Amended
and Restated First Amendment to Lease, dated as of August 11, 2000, that certain Second Amendment
to Lease, dated as of May 1, 2001, that certain Third Amendment to Lease, dated as of June 19,
2001, that certain Fourth Amendment to Lease, dated as of October 1, 2001, that certain Fifth
Amendment to Lease, dated as of November 1, 2002, and that certain Sixth Amendment to Lease, dated
as of September 30, 2003 (as amended from time to time, the “Suite 650 Lease”). Pursuant to the
Suite 650 Lease, Tenant leases from Landlord certain premises located at and commonly known as 1124
Columbia Street, Seattle, Washington, Suite 650, as more particularly described in the Suite 650
Lease. All initially capitalized terms not otherwise defined in this Agreement shall have the
meanings set forth in the Suite 650 Lease unless the context clearly indicates otherwise.

     B. Landlord and Tenant are parties to that certain Lease Agreement, dated as of September 28, 2001
(as amended from time to time, the “Annex Lease”). Pursuant to the Annex Lease, Tenant leases from
Landlord certain premises located at and commonly known as 1124 Columbia Street, Seattle,
Washington, Annex Level B, as more particularly described in the Annex Lease.

     C. Landlord and Tenant are parties to that certain Storage Lease, dated as of July 24, 2002 (as
amended from time to time, the “Storage Lease”), pursuant to which Tenant leases from Landlord
certain premises located at and commonly known as 1124 Columbia Street, Seattle Washington, Suite
#056, as more particularly described in the Storage Lease.

     D. Tenant and XCyte Therapies Inc., a Washington Corporation (“XCyte”), are parties to that certain
Sublease dated as of July 23, 2003 (as amended, the “XCyte Sublease”). Pursuant to the XCyte
Sublease, XCyte subleases from Tenant a portion of the premises demised under the Suite 650 Lease,
as more particularly described in the XCyte Sublease. Landlord consented to the foregoing sublease
to XCyte pursuant to that certain Consent to Sublease, dated as of July 24, 2003, by and among
Landlord, Tenant and XCyte (the “XCyte Consent”).

     E. Tenant and R&J Lab Therapies, Inc., a Washington corporation (“R&J”), are parties to that
certain Sublease, dated as of September 5, 2003 (as amended, the “R&J Sublease”). Pursuant to the
R&J Sublease, R&J subleases from Tenant a portion of the premises demised under the Suite 650
Lease, as more particularly described in the R&J Sublease. Landlord consented to the

 

 

foregoing
sublease to R&J pursuant to that certain Consent to Sublease, dated as of September 5, 2003, by and
among Landlord, Tenant and R&J (the “R&J Consent”). The Suite 650 Lease, the Annex Lease, the
XCyte Sublease, the R&J Sublease, the XCyte Consent and the R&J Consent are hereinafter
collectively referred to as the “Assigned Lease Documents.”

     F. Subject to the terms and conditions set forth herein, (i) Tenant desires to assign to Assignee,
and Assignee desires to assume, all of Tenant’s right, title and interest in and to the Assigned
Lease Documents, (ii) Landlord desires to consent to the assignment and assumption of the Assigned
Lease Documents, release Tenant from all obligations under the Assigned Lease Documents arising
from and after the Effective Date, and (iii) Landlord, Tenant and Assignee desire to amend the Suite 650
Lease and the Annex Lease effective as of the Effective Date.

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

     1. Assignment. Effective as of the Effective Date, Tenant assigns, sells,
transfers, sets over and delivers to Assignee all of Tenant’s right, title and interest in and to
the Assigned Lease Documents.

     2. Assumption. Effective as of the Effective Date, Assignee accepts the foregoing
assignment of the Assigned Lease Documents and assumes and agrees to perform and observe all of the
obligations, covenants, terms and conditions to be performed or observed by Tenant under the
Assigned Lease Documents arising from and after the Effective Date.

     3. Consent to Assignment and Assumption; Conditions Precedent. Subject to the terms
of this Section 3, effective as of the Effective Date, (i) Landlord consents to the
foregoing assignment and assumption of the Assigned Lease Documents, and (ii) Landlord releases
Tenant from, and relieves Tenant of, all of Tenant’s obligations under the Assigned Lease Documents
arising from and after the Effective Date. Notwithstanding anything to the contrary set forth
herein, Landlord’s consent set forth in this Section 3, and the modifications to the Suite
650 Lease and Annex Lease set forth in Section 5, are each subject to the following
conditions precedent: (x) Landlord’s receipt of the Assignment Consideration (as hereinafter
defined) on or before the Effective Date and otherwise strictly in accordance with the terms and
conditions set forth in Section 4 below; and (y) the occurrence of the closing of the
transaction contemplated under the Asset Acquisition Agreement (as hereinafter defined) on or
before October 30, 2003. The failure of either of the foregoing conditions precedent shall render
this Agreement null and void without further action by any person, and of no further force and
effect.

     4. Assignment Consideration. As consideration for granting its consent to the
assignment of the Assigned Lease Documents and the modification of the Assigned Lease Documents
described in Section 5 below, on or before the Effective Date, Landlord shall be paid or
issued each of the following “Assignment Consideration” strictly in accordance with the following
terms and conditions:

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          (a) Two Hundred Thousand Dollars ($200.000.00), which shall be deducted from the security
deposit currently held by Landlord for the Suite 650 Lease and the Annex Lease, and retained by
Landlord on the Effective Date as a fee for granting the consent set forth herein. The remainder
of such security deposit shall be returned to Tenant in accordance with the terms and provisions of
Section 6 below.

          (b) 81,967 shares of non-voting common stock of Assignee issued pursuant to that certain Asset
Acquisition Agreement, dated September 25, 2003, by and between Assignee and Tenant (the “Asset
Acquisition Agreement”). Such securities shall be issued by Assignee directly to Alexandria
Equities, LLC, a Delaware limited liability company (“Alexandria Equities”), an affiliate of
Landlord, on or prior to the Effective Date, and shall not be subject to any indemnification
obligations of Tenant pursuant to the Asset Acquisition Agreement. In addition, in connection with
the issuance of such securities to Alexandria Equities, all representations and warranties made by
Assignee in Article 7 of the Asset Acquisition Agreement are hereby incorporated by reference
herein as though fully set forth in this Agreement. Assignee hereby acknowledges that Landlord and
Alexandria Equities are relying upon such representations and warranties in accepting the
securities issued by Assignee pursuant to this Agreement. In addition, Assignee agrees to grant
and make available to Alexandria Equities comparable rights and privileges relating to such
securities as are granted by Assignee to Tenant with respect to the securities issued to Tenant
pursuant to the Asset Acquisition Agreement. Tenant and Assignee agree that if any modification to
the Asset Acquisition Agreement or the transaction contemplated thereunder results in an adjustment
in the proportion of securities to non-securities consideration that Tenant is to receive under the
Asset Acquisition Agreement, an equitable proportionate adjustment shall be made to the amount of
securities which Alexandria Equities is entitled to receive hereunder.

     5. Lease Modifications. Effective as of the Effective Date, subject to the
satisfaction of the condition precedent set forth in Section 4 above, Landlord and Assignee
agree that the Suite 650 Lease and Annex Lease are each amended as follows:

          (a) Suite 650 Lease Modifications.

               (i) The definition of “Security Deposit” set forth on Page 1 of the Suite 650 Lease is deleted
in its entirety and the following definition is substituted in lieu thereof:

          “Security Deposit: $93,058.29”

               (ii) The expiration date of the Base Term of the Suite 650 Lease is extended to September 30,
2008.

               (iii) Tenant’s Notice Address set forth in Page 1 of the Suite 650 Lease is amended to delete
Tenant’s address for notices and to replace it with the following:

          “nura, inc., 1124 Columbia Street, Suite 650, Seattle, Washington 98104.”

               (iv) The following is added to Section 3(b) of the Suite 650 Lease:

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“Notwithstanding anything to the contrary contained herein, Tenant shall not be
obligated to pay (i) Base Rent for the months of September of 2003, January of 2004
and January of 2005, or (ii) Tenant’s Share of Net Building Expenses attributable to
the month of September of 2003.’’

               (v) The first sentence of Section 4 of the Suite 650 Lease is deleted in its entirety, and the
following sentence is substituted in lieu thereof:

“Base Rent shall be increased on October 1, 2004, and on each annual anniversary
thereafter during the Term of this Lease by multiplying the Base Rent payable
immediately before such adjustment by the Rent Adjustment Percentage and adding the
resulting amount to the Base Rent payable immediately before such adjustment.”

               (vi) The first sentence of Section 6 of the Suite 650 Lease is deleted in its entirety, and
the following is substituted in lieu thereof:

“Tenant shall deposit with Landlord security (the “Security Deposit”) for the
performance of all of its obligations in the amount set forth in the Basic Lease
Provisions set forth on Page 1 of this Lease, which security shall be in the form of
an unconditional and irrevocable letter of credit (the “Letter of Credit”) (i) in
form and substance satisfactory to Landlord, (ii) naming Landlord as beneficiary,
(iii) expressly allowing Landlord to draw upon it at any time from time to time by
delivering to the issuer notice that Landlord is entitled to draw thereunder, (iv)
drawable on an FDIC-insured financial institution satisfactory to Landlord, and (v)
redeemable in the state of Landlord’s choice. If Tenant does not provide Landlord
with a substitute Letter of Credit complying with all of the requirements hereof at
least 10 days before the stated expiration date of the then current Letter of Credit,
Landlord shall have the right to draw upon the current Letter of Credit and hold the funds drawn as the Security
Deposit.”

          (b) Annex Lease Modifications

               (i) The definition of “Security Deposit set forth on Page 1 of the Annex Lease is deleted in
its entirety and the following definition is substituted in lieu thereof:

“Security Deposit: $100,314.78.”

               (ii) The definition of “Rent Adjustment Percentage” set forth on Page 1 of the Annex Lease is
deleted in its entirety and the following definition is substituted in lieu thereof:

“Rent Adjustment Percentage: 3.5%”

               (iii) The expiration date of the Base Term of the Annex Lease is modified to September 30,
2008.

               (iv) Tenant’s Notice Address set forth in Page 1 of the Annex Lease is amended to delete
Tenant’s address for notices and to replace it with the following:

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“nura, inc., 1124 Columbia Street, Suite 650, Seattle, Washington 98104.”

               (v) The following is added to Section 3(b) of the Annex Lease:

“Notwithstanding anything to the contrary contained herein, Tenant shall not be
obligated to pay (i) Base Rent for the months of September of 2003, January of 2004
and January of 2005, or (ii) Tenant’s Share of Operating expenses attributable to the
month of September of 2003.”

               (vi) Section 4 of the Annex Lease is deleted in its entirety, and the following is substituted
in lieu thereof:

“Base Rent shall be increased on October 1, 2004, and on each annual anniversary
thereafter during the Term of this Lease by multiplying the Base Rent payable
immediately before such adjustment by the Rent Adjustment Percentage and adding the
resulting amount to the Base Rent payable immediately before such adjustment. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent
adjustments for any fractional calendar month shall be prorated.”

               (vii) Section 6 of the Annex Lease is amended to delete the phrase “either cash or” from the
first sentence thereof.

     6. Security Deposits. Landlord and Tenant acknowledge that Landlord currently holds
a security deposit from Tenant in the amount of $111,911.00 with respect to the Suite 650 Lease,
and a security deposit in the amount of $96,922.50 with respect to the Annex Lease. On the
Effective Date, Landlord shall deduct $200,000 from the foregoing security deposits and retain the
same as a portion of the Assignment Consideration pursuant to Section 4 above. The balance
of the security deposits (i.e., $8,833.50) shall be returned by Landlord to Tenant within thirty
(30) days following the Effective Date, less any amounts which Landlord is entitled to deduct
pursuant to Section 6 of the Annex Lease or Section 6 of the Suite 650 Lease. On or before January
1, 2004, Assignee shall deposit with Landlord a new security deposit in the amount of $93,058.29,
in the form of a letter of credit, and otherwise in accordance with Section 6 of the Suite 650
Lease, for the performance of Assignee’s obligations under the Suite 650 Lease. Such deposit shall
constitute the “Security Deposit” required and governed by Section 6 of the Suite 650 Lease (as
amended herein). On or before January 1, 2004, Assignee shall deposit with Landlord a new security
deposit in the amount of $100,314.78, in the form of a letter of credit, and otherwise in
accordance with Section 6 of the Annex Lease, for the performance of Assignee’s obligations under
the Annex Lease. Such deposit shall constitute the “Security Deposit” required and governed by
Section 6 of the Annex Lease (as amended herein).

     7. Brokers. Assignee shall pay any broker commissions or fees that may be payable as
a result of the assignment contemplated herein, and Assignee hereby indemnifies and agrees to hold
Landlord harmless from and against any loss or liability arising therefrom or from any other
commissions or fees payable in connection with the assignment contemplated herein.

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     8. No Other Modifications of Lease. Except as expressly provided for herein,
nothing contained herein shall be construed to modify, waive, impair, or affect any of the terms,
covenants or conditions contained in any of the Assigned Lease Documents (including Assignee’s
obligation to obtain any required consents for any other or future assignments or sublettings), or
to waive any breach thereof, or any rights or remedies of Landlord thereunder, or to enlarge or
increase Landlord’s obligations or liabilities thereunder, and all terms, covenants and conditions
of the Suite 650 Lease (as modified herein) and Annex Lease (as modified herein) are hereby declared by each of
Landlord, Tenant and Assignee to be in full force and effect.

     9. Oral Modifications. This Agreement may not be changed orally, but only by an
agreement in writing signed by Landlord and the party(ies) against whom enforcement of any change
is sought.

     10. Integration. This Agreement supersedes all prior or contemporaneous, written
or oral, memoranda, arrangements, agreements, or understandings between the parties hereto related
to the subject matters addressed herein. Any representations, promises, warranties, or statements
made by any party which differ in any way from the terms of this Agreement shall be given no force
or effect.

     11. Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original, but all of which when taken together shall constitute
but one and the same instrument. The parties agree that this Agreement may be signed by facsimile,
with originals to follow.

     12. Governing Law. This Agreement and the legal relations between the parties hereto
shall be governed by and construed and enforced in accordance with the internal laws of the State
of Washington.

     13. Successors and Assigns. This Agreement shall be binding upon Landlord, Tenant,
and Assignee and their respective successors, successors-in-interests, transferees and assigns.

     14. Time of Essence. Time is of the essence with respect to each provision of this
Agreement.

     15. Authority. Each person executing this Agreement on behalf of a party hereto
represents and warrants that he or she is authorized and empowered to do so and to thereby bind the
party on whose behalf he or she is signing.

     16. Attorneys’ Fees. If any party hereto commences an action against the other
party(ies) arising out of or in connection with this Agreement, the prevailing party shall be
entitled to recover from the losing party(ies) reasonable attorneys’ fees and costs of suit.

     17. Further Assurances. The parties hereto shall promptly perform, execute and
deliver or cause to be performed, executed and/or delivered any and all acts, deeds and assurances
as the other party(ies) may reasonably require in order to carry out the intent and purpose of this
Agreement.

[Signatures appear on the next page.]

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

	 	 	 	 	 
	LANDLORD: 	ALEXANDRIA REAL ESTATE EQUITIES, INC.,

a Maryland corporation

 	 
	 	By:  	/s/ Peter J. Nelson
 	 
	 	Name: 	Peter J. Nelson 	 
	 	Its: 	Senior Vice President & Chief Financial Officer 	 
	 
	TENANT: 	PRIMAL, INC.,

a Washington corporation

 	 
	 	By:  	/s/ Jim D. Johnston
 	 
	 	Name:  	Jim D. Johnston 	 
	 	Its: 	Chief Financial Officer 	 
	 
	ASSIGNEE: 	NURA, INC.,

a Delaware corporation

 	 
	 	By:  	/s/ Patrick W. Gray
 	 
	 	Name:  	Patrick W. Gray 	 
	 	Its: 	Chief Executive Officerexv10w27

 

Exhibit 10.27

ASSIGNMENT, ASSUMPTION AND MODIFICATION OF LEASE DOCUMENTS

     This Assignment and Assumption and Modification of Lease Documents (this “Agreement”) is made
as of September 26, 2007 (the “Effective Date”), by and among ALEXANDRIA REAL ESTATE EQUITIES,
INC., a Maryland corporation (“Landlord”), NURA, INC., a Delaware corporation (“Tenant”), and
OMEROS CORPORATION, a Washington corporation (“Assignee”).

RECITALS

     A. Landlord and Tenant are parties to that certain Lease Agreement, dated as of April 6, 2000,
as previously amended by an Assignment and Assumption and Modification of Lease Document, dated as
of October 23,2003 (as amended from time to time, the “Suite 650 Lease”). Pursuant to the Suite
650 Lease, Tenant leases from Landlord certain premises located at and commonly known as 1124
Columbia Street, Seattle, Washington, Suite 650, as more particularly described in the Suite 650
Lease (“Suite 650 Premises”). All initially capitalized terms not otherwise defined in this
Agreement shall have the meanings set forth in the Suite 650 Lease unless the context clearly
indicates otherwise.

     B. Landlord and Tenant are parties to that certain Lease Agreement, dated as of September 28,
2001, as amended by that certain Assignment and Assumption and Modification of Lease Document,
dated as of October 23, 2003, (as amended from time to time, the “Annex Lease”). Pursuant to the
Annex Lease, Tenant leases from Landlord certain premises located at and commonly known as 1124
Columbia Street, Seattle, Washington, Annex Level B, as more particularly described in the Annex
Lease (“Annex Premises”).

     C. Landlord and Tenant are parties to that certain Storage Lease, dated as of July 24, 2002,
as amended by that certain Assignment and Assumption and Modification of Lease Document, dated as
of October 23, 2003, (as amended from time to time, the “Storage Lease”), pursuant to which Tenant
leases from Landlord certain premises located at and commonly known as 1124 Columbia Street,
Seattle Washington, Suite #056, as more particularly described in the Storage Lease.

     D. Tenant and C-P Technologies, LP, a Washington limited partnership (“C-P”), are parties to
that certain Sublease, dated as of June 1, 2007 (as amended, the “C-P Sublease”). Pursuant to the
C-P Sublease, C-P subleases from Tenant a portion of the premises demised under the 650 Lease, as
more particularly described in the C-P Sublease. Landlord consented to the foregoing sublease to
C-P pursuant to that certain Consent to Sublease, dated as of August 7, 2007, by and among
Landlord, Tenant and C-P (the “C-P Consent”).

     E. Tenant and NT Omics, Inc., a California corporation (“NT Omics”), are parties to that
certain Sublease, dated as of July 1, 2007 (as amended, the “NT Omics Sublease”). Pursuant to the
NT Omics Sublease, NT Omics subleases from Tenant a portion of the premises demised under the 650
Lease, as more particularly described in the NT Omics Sublease. Landlord consented to the
foregoing sublease to NT Omics pursuant to that certain Consent to Sublease, dated as of September
26, 2007, by and among Landlord, Tenant and NT Omics (the “NT Omics Consent”).

 

 

     F. Subject to the terms and conditions set forth herein, (i) Tenant desires to assign to
Assignee, and Assignee desires to assume, all of Tenant’s right, title and interest in and to the
Suite 650 Lease, the Annex Lease, the Storage Lease, the C-P Sublease and the NT Omics Sublease
(collectively, the “Assigned Lease Documents”), (ii) Landlord desires to consent to the assignment
and assumption of the Assigned Lease Documents, release Tenant from all obligations under the
Assigned Lease Documents arising from and after the Effective Date, and (iii) Landlord and Assignee
desire to amend the Suite 650 Lease and the Annex Lease effective as of the Effective Date.

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

     1. Assignment. Effective as of the Effective Date, Tenant assigns, sells transfers,
sets over and delivers to Assignee all of Tenant’s right, title and interest in and to the Assigned
Lease Documents.

     2. Assumption. Effective as of the Effective Date, Assignee accepts the foregoing
assignment of the Assigned Lease Documents and assumes and agrees to perform and observe all of the
obligations, covenants, terms and conditions to be performed or observed by Tenant under the
Assigned Lease Documents arising from and after the Effective Date.

     3. Consent to Assignment and Assumption. Effective as of the Effective Date, (i)
Landlord consents to the foregoing assignment and assumption of the Assigned Lease Documents, and
(ii) Landlord releases Tenant from and relieves Tenant of all of Tenant’s obligations under the
Assigned Lease Documents arising from and after the Effective Date.

     4. Lease Modifications. Effective as of the Effective Date, Landlord and Assignee
agree that the Suite 650 Lease and Annex Lease are each amended as follows:

          (a) Suite 650 Lease Modifications.

               (i) Notice Address. Tenant’s Notice Address set forth in Page 1 of the Suite 650
Lease is amended to delete Tenant’s address for notices and to replace it with Assignee’s address
as follows:

“Omeros Corporation, 1420 Fifth Avenue, Suite 2600, Seattle, Washington
98101.”

               (ii) Expansion of Premises. Effective as of the Effective Date, the Premises under
the 650 Lease are hereby expanded to include 137 square feet on the 6th floor of 1124 Columbia
Street, Seattle, WA 98104, as shown and described on Exhibit A attached hereto (the “Suite 640
Space”). From and after the Effective Date the Base Rent payable under the 650 Lease shall be
increased by $228.33 per month and such amount shall be increased annually by the Rent Adjustment
Percentage on the same date that Base Rent for the balance of the Premises is increased.

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No Additional Rent shall be payable for the Suite 640 Space and Tenant’s share of Net Building
Expenses shall not increase.

               (iii) Termination of Expansion Right. Tenant shall have no further right to expand
the Premises. Accordingly, Section 39 (Right to Expand) of the Suite 650 Lease is hereby
deleted in its entirety.

               (iv) Right to Extend Term. Subsection 40(a) of the Suite 650 Lease is hereby
deleted and replaced with the following:

“(a) Extension Right. Tenant shall have the right (the “First Extension
Right”) to extend the term of this Lease for a period of 3 years (the “First
Extension Term”), and, if the First Extension Right has been exercised,
Tenant shall have the additional right (the “Second Extension Right;” the
First Extension Right and the Second Extension Right may be collectively
referred to herein as the “Extension Rights” or individually as an “Extension
Right”) to extend the term for an additional period of 1 year (the “Second
Extension Term”) on the same terms and conditions as this Lease (other than
Base Rent) by giving Landlord written notice of its election to exercise each
Extension Right at least 12 months prior to the expiration of the Base Term
of the Lease or the expiration of the First Extension Term, as applicable.
Upon the commencement of an Extension Term, Base Rent shall be payable at the
Market Rate (as defined below). Base Rent shall thereafter be adjusted on
each annual anniversary of the commencement of such Extension Term by a
percentage as determined by Landlord and agreed to by Tenant at the time the
Market Rate is determined. As used herein, “Market Rate” shall mean the then
market rental rate as determined by Landlord and agreed to by Tenant, which
shall in no event be less than the Base Rent payable as of the date
immediately preceding the commencement of such Extension Term increased by
the Rent Adjustment Percentage multiplied by such Base Rent. In addition,
Landlord may impose a market rent for the parking rights provided hereunder.
Notwithstanding anything to the contrary contained in this Lease, Tenant’s
Extension Rights granted above may only be exercised if the term of that
certain Lease Agreement, dated as of September 28, 2001 (as amended and
assigned, the “Annex Lease”), to which Landlord and Tenant are now parties,
and which covers the portion of the Building known as Annex Level B, shall be
concurrently extended pursuant to Section 40 of the Annex Lease so
that both this Lease and the Annex Lease expire on the same date.
Accordingly, if the term of the Annex Lease is not extended pursuant to
Section 40 of the Annex Lease, Tenant shall have no right to extend
the term of this Lease pursuant to Section 40 of this Lease.”

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(b) Annex Lease Modification.

                    (i) Notice Address. Tenant’s notice address set forth on Page 1 of the Annex Lease is
amended to delete Tenant’s address for notices and to replace it with Assignee’s address as
follows:

“Omeros Corporation, 1420 Fifth Avenue, Suite 2600, Seattle, Washington
98101.”

                    (ii) Right to Extend Term. A new Section 40 is added to the Annex Lease as
follows, which corresponds identically to Section 40 of the Suite 650 Lease:

“40. Right to Extend Term. Tenant shall have the right to extend the Term of
the Lease upon the following terms and conditions:

     (a) Extension Right. Tenant shall have the right (the “First Extension
Right”) to extend the term of this Lease for a period of 3 years (the “First
Extension Term”), and, if the First Extension Right has been exercised,
Tenant shall have the additional right (the “Second Extension Right;” the
First Extension Right and the Second Extension Right may be collectively
referred to herein as the “Extension Rights” or individually as an “Extension
Right”) to extend the term for an additional period of 1 year (the “Second
Extension Term”) on the same terms and conditions as this Lease (other than
Base Rent) by giving Landlord written notice of its election to exercise each
Extension Right at least 12 months prior to the expiration of the Base Term
of the Lease or the expiration of the First Extension Term, as applicable.
Upon the commencement of an Extension Term, Base Rent shall be payable at the
Market Rate (as defined below). Base Rent shall thereafter be adjusted on
each annual anniversary of the commencement of such Extension Term by a
percentage as determined by Landlord and agreed to by Tenant at the time the
Market Rate is determined. As used herein, “Market Rate” shall mean the then
market rental rate as determined by Landlord and agreed to by Tenant, which
shall in no event be less than the Base Rent payable as of the date
immediately preceding the commencement of such Extension Term increased by
the Rent Adjustment Percentage multiplied by such Base Rent. In addition,
Landlord may impose a market rent for the parking rights provided hereunder.
Notwithstanding anything to the contrary contained in this Lease, Tenant’s
Extension Rights granted above may only be exercised if the term of that
certain Lease Agreement dated as of April 6, 2000 (as amended and assigned,
the “Suite 650 Lease”), to which Landlord and Tenant are now parties, and
which covers Suites 640 and 650 in the Building, shall be concurrently
extended pursuant to Section 40 of the Suite 650 Lease so that both
this Lease and the Suite 650 Lease expire on the same date. Accordingly, if
the term of the Suite 650 Lease is not extended pursuant to Section
40 of the Suite 650 Lease, Tenant shall have no right to extend the term
of this Lease pursuant to Section 40 of this Lease.

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     If, on or before the date which is 120 days prior to the expiration of
the Base Term of this Lease or the expiration of the First Extension Term, as
applicable, Tenant has not agreed with Landlord’s determination of the Market
Rate and the rent escalations during such subsequent Extension Term after
negotiating in good faith, Tenant may by written notice to Landlord not later
than 20 days prior to the expiration of the Base Term of this Lease or the
expiration of the First Extension Term, as applicable, elect arbitration as
described in Section 40(b) below. If Tenant does not elect such
arbitration, Tenant shall be deemed to have waived any right to extend the
term of the Lease and the Extension Rights shall terminate.

     (b) Arbitration.

     (i) Within 10 business days of Tenant’s notice to Landlord of its
election to arbitrate Market Rate and escalations, each party shall deliver
to the other a proposal containing the Market Rate and escalations that the
submitting party believes to be correct (“Extension Proposal”). If either
party fails to timely submit an Extension Proposal, the other party’s
submitted proposal shall determine the Base Rent and escalations for the
Extension Term. If both parties submit Extension Proposals, then Landlord
and Tenant shall meet within 7 days after delivery of the last Extension
Proposal and make a good faith attempt to mutually appoint a single
Arbitrator (as defined below) to determine the Market Rate and escalations.
If Landlord and Tenant are unable to agree upon a single Arbitrator, then
each shall, by written notice delivered to the other within 10 business days
after the meeting, select an Arbitrator. If either party fails to timely
give notice of its selection for an Arbitrator, the other party’s submitted
proposal shall determine the Base Rent for the Extension Term. The 2
Arbitrators so appointed shall, within 5 business days after their
appointment, appoint a third Arbitrator. If the 2 Arbitrators so selected
cannot agree on the selection of the third Arbitrator within the time above
specified, then either party, on behalf of both parties, may request such
appointment of such third Arbitrator by application to any state court of
general jurisdiction in the jurisdiction in which the Premises are located,
upon 10 days prior written notice to the other party of such intent.

     (ii) The decision of the Arbitrator(s) shall be made within 30 days
after the appointment of a single Arbitrator or the third Arbitrator, as
applicable. The decision of the single Arbitrator shall be final and binding
upon the parties. The average of the two closest Arbitrators in a three
Arbitrator panel shall be final and binding upon the parties. Each party
shall pay the fees and expenses of the Arbitrators appointed by or on behalf
of such party and the fees and expenses of the third Arbitrator shall be
borne equally by both parties. If the Market Rate and escalations are not
determined by the first day of the Extension Term, then Tenant shall pay
Landlord Base Rent in an amount equal to the Base Rent in effect immediately
prior to the Extension Term and increased by the Rent Adjustment Percentage
until such

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determination is made. After the determination of the Market Rate and
escalations, the parties shall make any necessary adjustments to such
payments made by Tenant. Landlord and Tenant shall then execute an amendment
recognizing the Market Rate and escalations for the Extension Term.

     (iii) An “Arbitrator” shall be any person appointed by or on behalf of
either party or appointed pursuant to the provisions hereof and: (i) shall be
(A) a member of the American Institute of Real Estate Appraisers with not
less than 10 years of experience in the appraisal of improved office and high
tech industrial real estate in the greater Seattle metropolitan area, or (B)
a licensed commercial real estate broker with not less than 15 years
experience representing landlords and/or tenants in the leasing of high tech
or life sciences space in the greater Seattle metropolitan area, (ii)
devoting substantially all of their time to professional appraisal or
brokerage work, as applicable, at the time of appointment and (iii) be in all
respects impartial and disinterested.

(c) Rights Personal. The Extension Rights are personal to Tenant and are not
assignable without Landlord’s consent, which may be granted or withheld in
Landlord’s sole discretion separate and apart from any consent by Landlord to
an assignment of Tenant’s interest in the Lease; provided, however, a
Permitted Assignee shall succeed to such Extension Rights.

(d) Exceptions. Notwithstanding anything set forth above to the contrary,
the Extension Rights shall not be in effect and Tenant may not exercise the
Extension Rights:

     (i) during any period of time that Tenant is in Default under any
provision of this Lease; or

     (ii) if Tenant has been in Default under any provision of this Lease 3
or more times, whether or not the Defaults are cured, during the 12 month
period immediately prior to the date that Tenant intends to exercise an
Extension Right, whether or not the Defaults are cured.

(e) No Extensions. The period of time within which any Extension Right may
be exercised shall not be extended or enlarged by reason of the Tenant’s
inability to exercise the Extension Rights.

(f) Termination. The Extension Rights shall terminate and be of no further
force or effect even after Tenant’s due and timely exercise of an Extension
Right, if, after such exercise, but prior to the commencement date of an
Extension Term, (i) Tenant fails to timely cure any default by Tenant under
this Lease; (ii) Tenant has Defaulted 3 or more times during the period from
the date of the exercise of an Extension Right to the date of the

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commencement of the Extension Term whether or not such Defaults are cured.”

     5. Planned Construction; Quiet Enjoyment. Tenant and Assignee each acknowledges and
agrees that they have been notified of Landlord’s planned construction of a building at the
property adjacent to 1102 Columbia Street, Seattle, Washington (“Construction Activities”), and
that such Construction Activities may adversely impact the quiet enjoyment of the premises being
leased pursuant to the Assigned Lease Documents and Tenant and Assignee waive any claims they may
have against Landlord in connection therewith. Landlord shall, without any obligation to incur any
additional costs in connection with the Construction Activities, use commercially reasonable
efforts to minimize interference with the quiet enjoyment of the premises being leased pursuant to
the Assigned Lease Documents. Landlord acknowledges that Assignee maintains a laboratory animal
facility in the Annex Premises and a wet laboratory, including analytical instruments, in the Suite
650 Premises. Notwithstanding the waiver of claims set forth in this Section 5, if the
Construction Activities materially impair (i) the ability of Assignee to maintain the laboratory
animals and conduct research using such laboratory animals in the Annex Premises (such impairment
being evidenced by the deviation of animal behavior including in routine behavioral models, reduced
litter size or fertility, delayed or stunted growth or development, or animal cannibalism), and/or
(ii) the operation of the analytical instruments in the Suite 650 Premises (as evidenced by the
failure of the instrument system suitability testing or the irreproducibility of instrument
generated data) (collectively, “Material Impairment”), Assignee shall deliver written notice of
such Material Impairment to Landlord within 3 days of the occurrence of such Material Impairment,
along with evidence of the existence of such Material Impairment reasonably acceptable to Landlord,
and a description of the aspect of the Construction Activities that Assignee alleges is the cause
of such Material Impairment. If the parties are unable to agree about the existence or cause of a
Material Impairment, the matter shall be resolved by arbitration by a single arbitrator
(“Arbitrator”) with the qualifications and experience appropriate to resolve the matter and
appointed pursuant to and acting in accordance with the rules of the American Arbitration
Association. If a Material Impairment has occurred, Landlord shall have the right to attempt to
cure the aspect of the Construction Activities that the parties have determined is the cause of
such Material Impairment within 20 days after Landlord’s receipt of notice from Assignee regarding
such Material Impairment. If such aspect has not been cured within such 20 day period, Assignee
shall have the right, upon delivery of prior written notice to Landlord, to terminate (a) the Suite
650 Lease, if the Suite 650 Premises is affected by the Material Impairment, (b) the Annex Lease,
if the Annex Premises is affected by the Material Impairment, or (c) all of the Assigned Lease
Documents. Such right to terminate shall be the sole remedy of Assignee with respect to a Material
Impairment. If Assignee does not elect to exercise its rights to terminate pursuant to this
Section 5 within 5 business days of the lapse of such 20 day cure period, such right to
terminate shall be waived and all of the Assigned Lease Documents shall remain in full force and
effect and Assignee shall have no future rights to terminate pursuant to this Section 5.

     If arbitration is required pursuant to the preceding paragraph, the parties shall use
commercially reasonable efforts to cause the arbitration to be completed within 30 days (“Initial
Arbitration Period”) or as soon as reasonably possible thereafter. If the arbitration is not
completed within the Initial Arbitration Period, Landlord shall have the right at any time after
the Initial Arbitration Period to withdraw the dispute from arbitration by electing to terminate
the

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applicable Assigned Lease Document(s) which Assignee has requested be terminated (“Affected
Lease Documents”) and Assignee shall have the right at any time after the Initial Arbitration
Period to withdraw the dispute from arbitration by electing to maintain the Affected Lease
Documents in force. During any dispute regarding a Material Impairment and during any applicable
cure period, Assignee shall be required to continue to pay and perform all of its obligations under
all of the applicable Assigned Lease Documents. If the Arbitrator determines that a Material
Impairment did not exist or if Assignee withdraws from the arbitration following the Initial
Arbitration Period, Assignee shall pay to Landlord a penalty equal to fifty percent (50%) of the
Base Rent payable to Landlord under the Affected Lease Documents (the “Penalty”) for the period
commencing on the expiration of the Initial Arbitration Period and continuing through the earlier
of (i) the resolution of the arbitration, or (ii) the date of Assignee’s withdrawal from the
arbitration. If the Arbitrator determines that a Material Impairment did exist or Landlord elects
to withdraw the dispute from arbitration following the Initial Arbitration Period, Landlord shall
(a) reimburse Assignee for the Base Rent and Operating Expenses paid by Assignee to Landlord under
such Affected Lease Documents applicable to the period between the expiration of the 20 day cure
period (which shall be deemed to have commenced running upon Assignee’s initial notice) provided
for above and the date that the Affected Lease Documents are terminated, and (b) pay to Assignee
the Penalty for the period commencing on the expiration of the Initial Arbitration Period and
continuing through the earlier of (x) the resolution of the arbitration, or (y) the date of
Landlord’s withdrawal from the arbitration. The non-prevailing party, as determined by the
Arbitrator, or the withdrawing party, as the case may be, shall pay all of the prevailing party’s
(or non-withdrawing party’s) reasonable costs of arbitration and reasonable attorneys’ fees.

     6. Brokers. Tenant and Assignee represent and warrant to Landlord that no broker
commissions or fees are payable as a result of the assignment and modifications contemplated
herein, and each of Tenant and Assignee hereby indemnifies and agrees to hold Landlord harmless
from and against any loss or liability arising therefrom or from any commissions or fees payable in
connection with the assignment and modifications contemplated herein.

     7. No Other Modifications of Lease. Except as expressly provided for herein, nothing
contained herein shall be construed to modify, waive, impair, or affect any of the terms, covenants
or conditions contained in any of the Assigned Lease Documents (including Assignee’s obligation to
obtain any required consents for any other or future assignments or sublettings), or to waive any
breach thereof, or any rights or remedies of Landlord thereunder, or to enlarge or increase
Landlord’s obligations or liabilities thereunder, and all terms, covenants and conditions of the
Suite 650 Lease (as modified herein), Annex Lease (as modified herein) and Storage Lease are hereby
declared by each of Landlord, Tenant and Assignee to be in full force and effect.

     8. Oral Modifications. This Agreement may not be changed orally, but only by an
agreement in writing signed by Landlord and the party(ies) against whom enforcement of any change
is sought.

     9. Integration. This Agreement supersedes all prior or contemporaneous, written or
oral, memoranda, arrangements, agreements, or understandings between the parties hereto related to
the subject matters addressed herein. Any representations, promises, warranties, or statements
made

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by any party which differ in any way from the terms of this Agreement shall be given no force
or effect.

     10. Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, but all of which when taken together shall constitute but one
and the same instrument. The parties agree that this Agreement may be signed by facsimile, with
original to follow.

     11. Governing Law. This Agreement and the legal relations between the parties hereto
shall be governed by and construed and enforced in accordance with the internal laws of the State
of Washington.

     12. Successors and Assigns. This Agreement shall be binding upon Landlord, Tenant,
and Assignee and their respective successors, successors-in-interests, transferees and assigns.

     13. Time of Essence. Time is of the essence with respect to each provision of this
Agreement.

     14. Authority. Each person executing this Agreement on behalf of a party hereto
represents and warrants that he or she is authorized and empowered to do so and to thereby bind the
party on whose behalf he or she is signing.

     15. Attorney’s Fees. If any party hereto commences an action against the other
party(ies) arising out of or in connection with this Agreement, the prevailing party shall be
entitled to recover from the losing party(ies) reasonable attorneys’ fees and costs of suit.

     16. Further Assurances. The parties hereto shall promptly perform, execute and
deliver or cause to be performed, executed and/or delivered any and all acts, deeds and assurances
as the other party(ies) may reasonably require in order to carry out the intent and purpose of this
Agreement.

[Signatures are on the next page.]

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

	 	 	 	 	 
	LANDLORD: 	ALEXANDRIA REAL ESTATE EQUITIES, INC.,

a Maryland corporation

 	 
	 	By:  	/s/ Jackie Clem
 	 
	 	Name:  	Jackie Clem 	 
	 	Its:	VP — RE LEGAL AFFAIRS 	 

	 	 	 	 	 
	TENANT: 	NURA, INC.,

a Delaware Corporation

 	 
	 	By:  	/s/ Gregory Demopulos
 	 
	 	Name:  	Gregory A. Demopulos, M.D. 	 
	 	Its:    	President 	 

	 	 	 	 	 
	ASSIGNEE:  	OMEROS CORPORATION,

a Washington corporation
 	 
	 	By:  	/s/ Gregory A. Demopulos
 	 
	 	Name:  	Gregory A. Demopulos, M.D. 	 
	 	Its:  	Chairman and CEO 	 

 

 

EXHIBIT A

to

ASSIGNMENT, ASSUMPTION AND MODIFICATION OF LEASE DOCUMENTS

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