Document:

Exhibit 10.20

 

FIRST AMENDMENT

to

LEASE BETWEEN

 

EMERY STATION ASSOCIATES II, LLC (LANDLORD)

And

KINEMED, INC. (TENANT)

 

EMERYSTATION NORTH PROJECT

Emeryville, California

 

That certain Lease dated May 5, 2002 by and between Emery Station
Associates II, LLC, as Landlord, and KineMed, Inc., as Tenant, is hereby amended as follows:

 

		1)	The Premises currently measure 5,050 rentable square feet. Pursuant to the terms herein, that space shall be expanded to include
the additional space on the fourth floor more specifically depicted on Exhibit A attached hereto. This new space, hereinafter referred
to as the “Expansion Space”, measures 4,935 rentable square feet. The original space of 5,050 rentable square feet
and the Expansion Space of 4,935 rentable square feet, together measuring 9,985 rentable square feet, shall be considered “the
Premises” for purposes of the Lease, as amended.

 

		2)	The Term of the Lease for the entirety of the Premises shall be extended such that the new expiry shall be a full five (5)
years following the Expansion Space Substantial Completion Date, as defined below (subject to Tenant Delay). For example, if the
Expansion Space Substantial Completion Date occurs 9/1/03, the Lease Term shall be extended so that its new maturity will be 8/31/08.

 

		3)	Monthly Triple Net Base Rent applicable to the Expansion Premises shall be as follows:

 

Months 1 – 12 $15,347.85($3.11/rentable
sq.ft./month * 4,935 rentable sq.ft.)

 

Month 1 commences upon Substantial Completion (as
defined in the base lease) of the Expansion Space tenant improvements (the “Expansion Space Substantial Completion Date”),
subject to Tenant Delay.

 

    	 

    	 

    

 

At the beginning of Lease Month 13 for the Expansion
Space, and annually thereafter, this Monthly Triple Net Base Rent applicable to the Expansion Space shall be increased by the rate
of change in the local CPI since the Expansion Space Substantial Completion Date (“CPI” being more fully defined in
Exhibit B hereto). As an example, if the net change in the CPI from the Expansion Space Substantial Completion Date to the end
of Lease Year I was 3%, the Triple Net Base Rent applicable to Lease Year 2 for the Expansion Space would be $3.203/rentable sq.ft./month.
If, however, the change in the CPI for Lease Year 2 was negative (for example, the net change in the CPI from the Expansion Space
Substantial Completion Date until the end of Lease Year 2 was only 2% where it had been 3% at the end of Lease Year 1), the Triple
Net Base Rent applicable to Lease Year 3 would be only $3.172/sq.ft./month, which is less than the $3.203/sq.ft./month rate that
would have been applicable to Lease Year 2. Notwithstanding the forgoing, in no event shall Monthly Triple Net Base Rent be lowered
below the starting rate of $3.11/rentable sq.ft./month. For example, if the change in the CPI from the Expansion Space Substantial
Completion Space until the end of Lease Year I was a negative 2%, the Triple Net Base Rent applicable to Lease Year 2 would not
be reduced but would remain $3.11/sq.ft./month.

 

Notwithstanding the forgoing, Tenant shall only have
to pay 50% of the Monthly Triple Net Base Rent on the Expansion Space during the first 3 months of the term thereof.

 

Because the Term of the original space leased is
being extended pursuant to Section II hereof, the Monthly Triple Net Base Rent applicable to that extended term portion on the
original space shall bear rent for that extension period at the greater of: a) $3.30/rentable sq. ft/month (equal to the prior
year’s rent amount of $3.25 plus an additional $0.05 rent bump which is commensurate with increases from prior years on the
original space), and b) the Monthly Triple Net Base Rental Rate per sq. ft then applicable to the Expansion Space.

 

		4)	Tenant Improvements to the Expansion Space will be made pursuant to the terms of the original Lease Workletter. Landlord shall
design and build out the improvements using its own architects and contractors. Landlord and Tenant acknowledge that it is their
mutual intent to design the improvements such that they are delivered by Landlord to Tenant turn-key, yet still achievable within
Landlord’s budget of no more than $570,000 for all hard and soft costs. This program is preliminarily outlined on Exhibit
C attached hereto (the “Preliminary Space Plan”). Landlord and Tenant agree to work diligently to review and revise
this Preliminary Space Plan within 10 business days of the mutual execution hereof to meet Tenant’s program in a cost-effective
manner and to respond to code-requirements, to a degree sufficient for Landlord to reasonably estimate the cost thereof, so that
Landlord is able to evaluate the cost of the proposed improvements versus its budget, as more fully discussed below.

 

    	 

    	 

    

 

		5)	Tenant understands that another tenant has certain rights to lease the Expansion Space and Landlord requires some time to “put”
the opportunity to that tenant to determine the space’s true availability for Tenant. Additionally, Landlord requires some
time to more fully design with Tenant and price out the proposed tenant improvements to determine Landlord’s ability to turn-key
those improvements. In the event that, within 30 days of the mutual execution hereof, Landlord determines that it cannot reasonably
accomplish Tenant’s desired tenant improvement program in the Expansion Space within its budget, or that the tenant who holds
rights to the space invokes them such that the Expansion Space is not available to Tenant, Landlord shall have the right to terminate
this Lease Amendment upon notice in writing to Tenant. If such termination results from Landlord’s inability to turn-key
the space within its budget, Tenant shall have the right, within 2 weeks after receiving the termination notice from the Landlord,
to prevent such termination either by assisting in redesign of the improvements such that they meet the budget, contributing Tenant’s
own funds to cover the budget shortfall, or a combination thereof.

 

		6)	Landlord and Tenant acknowledge that the expansion referenced in this Lease Amendment constitutes the minimum 50% expansion
discussed in Section 2.6 of the base Lease and, as a result, agree now to strike that Section from the Lease.

 

		7)	In consideration for entering into the Lease Amendment, Tenant shall be given a one-time Right of First Refusal on up to approximately
8,000 square feet of the additional “spec” lab and office space Landlord presently intends to construct on the south
side of the project’s Fifth Floor. Landlord’s current plans are such that the spec space being built constitutes slightly
over 12,000 square feet of space, divisible into as many as three pieces of slightly more than 4,000 square feet each.

 

Upon receipt of a written offer from a prospective
tenant (or a counter offer to be made by Landlord to such a prospective tenant) upon terms and conditions which Landlord is prepared
to accept without material alteration (collectively “the Proposal”) to lease any or all of the spec lab space to which
this Right of First Refusal is applicable, Landlord shall notify Tenant of the primary terms of the Proposal and Tenant shall have
seven (7) business days within which to provide Landlord written notice of its commitment to lease said space upon the terms outlined
in the Proposal. In the event the Proposal relates to space containing 8,000 square feet or more, Tenant shall have the right to
accept the Proposal terms as they relate to the entire space or to only approximately 4,000 square feet, as such is designed in
the “spec” plan to be divisible from the larger suite. To the extent Failure by Tenant to provide such written notice
to Landlord shall be construed as its rejection of the offer to lease said space. Upon any written notice by Tenant of its intent
to proceed to lease the space upon the Proposal terms, Landlord will prepare an amendment of the Lease incorporating the Proposal
terms and submit same to Tenant for its prompt signature. This Right of First Refusal is a one-time right, is personal to Tenant,
and may not be transferred or assigned in conjunction with an assignment or sublease except to an Affiliate of Tenant. Further,
this Right of First Offer shall be null and void if, upon notice of the space’s availability by Landlord, Tenant is in default
under its Lease, as amended.

 

		8)	The Security Deposit shall be increased by $23,021.78 to a total amount of $104,326.78 (the increase meant to represent approximately
1 1/2 month’s rent on the Expansion Premises at the rental rate per square foot applicable to Tenant’s second year
in occupancy).

 

    	 

    	 

    

 

		9)	The amount of unreserved parking spaces available to Tenant under the lease, after addition of the Expansion Space to the Premises,
shall be increased by fifteen (15) spaces to a total of thirty (30) spaces. One (1) of those spaces shall be a “premium”
parking space in the EmeryStation North building garage. Rates and terms for parking shall be as described in Section 2.5 of the
base lease.

 

		10)	Paragraph 8 of Exhibit D of the existing Lease shall not apply to small rodents that may be used in conjunction with Tenant’
research.

 

		11)	Tenant hereby represents to Landlord that it has been represented by broker Jonathan Tomasco of Cornish & Carey in this
transaction.

 

		12)	Except for those terms outlined above, all other terms and conditions of the base Lease and WorkLetter shall apply.

 

In witness hereof, the parties have executed this First Amendment
as of the date noted below.

 

	TENANT:	LANDLORD:
	 	 
	KineMed, Inc., a Delaware Corporation,	Emery Station Associates II LLC, a
	 	California Limited Liability Company

 

	By:	/s/ James E. Burden	 	By: 	/s/ Richard K. Robbins

 

	Print Name: 	James E. Burden	 	Print Name: 	Richard K. Robbins

 

	Its: 	Chief Operations Officer	 	Its: 	Managing Member

 

	Dated: June 20, 2003	 	Dated: June 27, 2003

 

    	 

    	 

    

 

EXHIBIT A: EXPANSION SPACE

 

    	 

    	 

    

 

 

    	 

    	 

    

 

EXHIBIT B: DEFINITION OF “CPI”

 

As used herein, the term
“CPI” shall mean the Consumer Price Index for All Urban Consumers (1982 - 1984 = 100), San Francisco-Oakland-San Jose,
CA - All Items published by the United States Department of Labor, Bureau of Labor Statistics (the “Bureau”). In the
event that (A) the Bureau ceases to use the 1982-84, average of 100 as the basis of calculation and the Bureau does not recalculate
the then applicable CPI number for all years including 1982-84, or (B) Landlord and Tenant mutually agree in writing that the CPI
does not accurately reflect the purchasing power of the-dollar, or (C) the CPI shall be discontinued for any reason, then the parties
shall thereafter accept and use such other CPI or comparable statistics on the cost of living for the United States as shall be
computed and published by an agency of the United States or by a responsible financial periodical of recognized authority selected
by Landlord and Tenant. In the event of the use of comparable statistics of the CPI as above mentioned, there shall be made in the
 method of computation provided for, such revisions as the circumstances may require to carry out the intent of the parties
as set forth herein.

 

    	 

    	 

    

 

EXHIBIT C: PRELIMINARY SPACE PLANExhibit 10.21

SECOND AMENDMENT

to

LEASE BETWEEN

 

EMERY STATION ASSOCIATES II, LLC (LANDLORD)

And

KINEMED, INC. (TENANT)

 

EMERYSTATION NORTH PROJECT

Emeryville, California

 

That certain Lease dated May 5, 2002 by
and between Emery Station Associates II, LLC, as Landlord, and KineMed, Inc., as Tenant, (the “Original Lease”) as
such was amended via First Amendment executed on June 27, 2003 (the “First Amendment”), is hereby further amended as
follows (the Original Lease as amended by the First Amendment and this Second Amendment are collectively the “Lease”):

 

		I.	The effective date of this Second Amendment shall be December 1, 2004 (the “Second Amendment
Effective Date”).

 

		II.	The premises under the Original Lease and the First Amendment measures 9,985 rentable square feet
(the “Current Space”). Pursuant to the terms herein, that space shall be expanded to include additional space on the
fourth floor more specifically depicted on Exhibit A attached hereto. This additional space (herein, the “Additional Space”)
measures 4,537 rentable square feet. The Current Space of 9,985 rentable square feet and the Additional Space of 4,537 rentable
square feet, together measuring 14,522 rentable square feet, shall be considered the “Premises” for all purposes under
the Lease.

 

		III.	Tenant understands and acknowledges that the Additional Space is currently subject to a lease with
another tenant and that Landlord’s ability to deliver the Additional Space to Tenant is subject to Landlord’s ability
to recapture the Additional Space from the existing tenant on commercially reasonable terms. Landlord agrees to make reasonable
efforts to recapture the Additional Space so as to be in a position to lease it to Tenant pursuant to the terms herein. Tenant’s
sole rights in the event Landlord cannot secure the Additional Space for lease to Tenant is to terminate this Second Amendment
as outlined below. In the event Landlord has not successfully recaptured the Additional Space from the existing tenant on or before
December 31, 2004, both Landlord and Tenant shall have the unilateral right to cancel this Second Amendment and Tenant’s
lease of the Additional Space upon prompt written notice thereof to the other.

 

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		IV.	The Term of the Lease for the Premises (i.e. the Current Space and the Additional Space) shall
be extended such that the Expiration Date shall be December 31, 2009. Monthly Base Rent during this new, additional period of the
lease term, from the date of expiration of the term under the First Amendment to the Expiration Date extended under this paragraph
shall be as follows: a) for the Current Space consisting of 9,985 square feet of the Premises, the same monthly rate was as applicable
during the period twelve (12) months prior to date of expiration of the term under the First Amendment, and b) for the 4,537 square
feet of Additional Space, the rent shall be determined under Section V below.

 

		V.	Monthly Triple Net Base Rent applicable to the Additional
Space shall be as follows:

 

	 	 	 
	 	From 1/1/05 - 1/31/05	$0.00
	 	2/1/05 - 12/31/05	$12,985.15 per month

 

If lawful possession of the Additional
Space following completion of the improvements to be installed by Landlord under ¶s VI and VII below is not delivered on or
before 1/1/05, the period of $0.00 Monthly Triple Net Base Rent shall be extended by the number of days after 1/1/05 until the
date of delivery of lawful possession.

 

On 1/1/06 and every year thereafter
this Monthly Triple Net Base Rent applicable to the Additional Space shall be increased by three percent (3%).

 

Tenant shall be responsible to
pay all Operating Expenses and Taxes applicable to the Additional Space from 1/1/05 or the later extended date of delivery of lawful
possession, as described above.

 

		VI.	Tenant agrees to accept the Additional Space in its current as-is condition subject only to Landlord
completing the following:

		a)	Removal of existing tenant’s property and FF&E. Tenant acknowledges that the existing
cage wash and autoclave in the vivarium will not remain as part of the Additional Space unless Tenant negotiates with the existing
owner of that equipment to purchase them. Landlord will make reasonable efforts to assist Tenant in negotiating with the existing
tenant to try to keep these items in the Additional Space.

		b)	Landlord will seal or have sealed any miscellaneous holes and wall penetrations.

		c)	Landlord will ensure that the door that opens from the existing tenant’s office suite into
the vivarium is permanently shut, sealed or walled over.

		d)	Landlord will ensure that the HVAC system in the vivarium area is rebalanced to allow for reasonable
and achievable relative pressure differentials desired by Tenant.

		e)	Subject to any code limitations, Landlord will add a door from Tenant’s existing eastern
lab into the former Thios HTS lab and will close the doorway into that HTS lab from the balance of the Thios suite. Either this
door between the two labs needs to be at least as wide as is the existing door into the HTS lab from the balance of the Thios suite
or the existing door to the HTS lab from the common corridor (or a new door from the HTS lab to the common corridor) needs to be
at least that same width.

 

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		VII.	Landlord and Tenant agree that, in addition to the tenant improvements outlined in Section VI above
to be provided by Landlord, the Additional Space shall be improved by the addition of the following: a) three new twelve (12) foot
lab benches with electric power strips and shelving (but not sinks nor gasses) similar to Tenant’s existing lab benches,
b) at least twelve (12) lineal feet of additional fume hoods, ideally in two separate six-foot hoods, c) a connecting corridor/pathway
from tenant’s existing vivarium to the former Thios vivarium (subject to any applicable code limitations that may apply),
and d) certain improvements to and/or relocation of Tenant’s existing cage washer so as to eliminate the noise disturbance
to occupants in the adjacent floors. These additional improvements will be installed as soon as possible following Landlord’s
recapturing of the space from the existing tenant, pursuant to the terms of the Lease Work Letter and will be paid as follows:

 

The first $38,000.00 of Turn-Key
Construction Costs (as defined in the Lease Workletter) for the improvements described in this Section VII will be paid for 50/50
by Landlord and Tenant, with Tenant depositing its $19,000.00 share of such costs with Landlord upfront. If Turn-Key Construction
Costs are less than $38,000.00, Landlord will promptly return to Tenant its 50% share of such savings. Turn-Key Construction Costs
in excess of the aforementioned $38,000.00, but in no event more than an additional $18,000.00, will be paid for by Landlord upfront
and amortized as Additional Rent at an implied annual interest rate of 9.5% over the remaining Term of Tenant’s lease. The
additional rent due to any such amortized tenant improvements will be evidenced as necessary by appropriate lease amendment or
other documentation. Any Turn-Key Construction Costs in excess of the amounts outlined above shall be the sole and absolute responsibility
of Tenant.

 

		VIII.	Within thirty (30) days of execution of this Second Amendment to Lease, Tenant shall deliver to
Landlord a Warrant generally in the form of Exhibit C of the original Lease (the “Second Warrant”) pursuant to which
Landlord shall have the right to purchase up to Twenty Thousand (20,000) shares of Tenant’s common stock at a price of Seventy-Five
cents ($0.75) per share (the “Additional Shares”). The Second Warrant shall be exercisable at any time prior to five
(5) years from the Effective Date of this Second Amendment. Landlord and Tenant agree that the Second Warrant constitutes a part
of an agreed compensation and inducement to Landlord for entering into this Second Amendment.

 

		IX.	In consideration for premises expansion accomplished by this Second Amendment, Landlord and Tenant
agree that Section 7 of the First Amendment to lease regarding Right of First Offer is hereafter null and void and eliminated from
the Lease.

 

		X.	The amount of unreserved parking spaces available to Tenant under the lease, after addition of
the Expansion Space to the Premises, shall be increased up to a total of up to forty-five (45) spaces. Parking spaces up to this
amount shall be available to Tenant at rates and terms for parking described in Section 2.5 of the Original Lease.

 

		XI.	Tenant hereby represents to Landlord that it has represented itself in this transaction and that
no brokerage commission will be payable to any Tenant broker or representative as a result hereof.

 

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		XII.	The terms and conditions of the Work Letter attached as Exhibit B to the Original Lease shall apply;
however Sections 2.1 and 2.3 of Paragraph 2, entitled Design Matters, shall refer to the improvements described in ¶s VI and
VII above. Except for those terms outlined herein, all other terms and conditions of the Lease and Work Letter shall apply.

 

In witness hereof, the parties have executed
this Second Amendment as of the date noted below.

 

	TENANT:	 	LANDLORD:
	 	 	 
	KineMed, Inc., a Delaware Corporation.	 	Emery Station Associates II LLC, a 
	 	 	California Limited Liability Company
	 	 	 
	By:	/s/ James E. Burden	 	By: 	/s/ Richard K Robbins
	 	 	 
	Print Name:	James E. Burden	 	Print Name:	Richard K Robbins
	 	 	 
	Its:	Chief Operations Officer	 	Its: 	Managing Member
	 	 	 
	Dated:  Nov 22 2004	 	Dated:  12/2/04

 

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