SEC Contract Filing

Filing Date: 2022-03-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.47
<SEQUENCE>3
<FILENAME>amendmenttolease12062021.htm
<DESCRIPTION>EX-10.47
<TEXT>
<HTML>
<HEAD><!-- Document generated by Workiva Inc -->
<TITLE>amendmenttolease12062021</TITLE>
</HEAD>
<BODY bgcolor="white">
<DIV align="center">
<DIV style="margin-left:1em;width:1058;"><!-- amendmenttolease12062021001.jpg -->
<DIV style="padding-top:2em;">
<IMG src="amendmenttolease12062021001.jpg" title="slide1" width="1058" height="1365">
<DIV><FONT size="1" style="font-size:1pt;color:white">SECOND AMENDMENT TO LEASE DC ccvYl kte.v THIS SECONp&middot;AMENDMENT TO LEASE (this &quot;Amendment&quot;) is made as of the Lf!V' day of Nevfurber. 2021, by and between SELIG HOLDINGS COMPANY, LLC, a Delaware limited liability company (&quot;Selig&quot; or &quot;Lessor&quot;), and CTI BIOPHARMA CORP., a Delaware corporation (&quot;CTI&quot; or &quot;Lessee&quot;). WIT NE S S ET H: WHEREAS, Lessor and Cell Therapeutics, Inc. (&quot;Original Tenant&quot;), predecessor in interest to Lessee, entered into that certain Lease titled &quot;3101 Western. A venue Office Lease&quot; dated January 27, 2012 (the &quot;Original Lease&quot;), as amended by that certain letter agreement by and between Lessor and Original Tenant, dated June 7, 2012 (the &quot;First Amendment&quot; together with the Original Lease, the &quot;Lease&quot; or ' Existing Lease&quot;), pertaining to certain premises more particularly described in the Lease in the btilding commonly known as 3101 Western Avenue (the &quot;Building&quot;&quot;), located at 3101 Western Avenue, Seattle, Washington 98121; WHEREAS, the term of the Lease is currently scheduled to expire on April 30, 2022;and WHEREAS, Lessor and Lessee now desire to extend the Lease term, reduce the Premises, and to further amend the Lease subject to the terms and conditions set forth below. NOW, THEREFORE, we hereby agree that, in consideration of the foregoing and other consideration, the receipt of sufficiency of which are hereby acknowledged, upon full execution of this Second Amendment (the &quot;Second Amendment Date&quot;) Lessor and Lessee agree the Existing Lease will be modified as follows (and from and after such execution, all references in the Existing Lease to the &quot;Lease&quot; or words of similar effect shall mean &quot;the Existing Lease as modified by the Second Amendment&quot;): 1. Defined Terms. Unless otherwise defined in this Amendment, any capitalized or defined term used herein shall have its respective meaning as set forth in the Lease. As used in this Amendment, the following terms shall have the respective meanings indicated below: (a) &quot;Extension Commencement Date&quot; shall mean May 1, 2022; (b) &quot;Existing Premises&quot; shall mean the existing premises demised pursuant to the Lease, namely those certain premises containing approximately 66,045 rentable square feet on the sixth, seventh, and eighth floors of the Building; ( c) &quot;First Extension Premises&quot; shall mean the Premises existing as of the Extension Commencement Date. </FONT></DIV>
<P><HR noshade><P>
<DIV style="page-break-before:always;">&nbsp;</DIV>
</DIV>
<!-- amendmenttolease12062021002.jpg -->
<DIV style="padding-top:2em;">
<IMG src="amendmenttolease12062021002.jpg" title="slide2" width="1056" height="1365">
<DIV><FONT size="1" style="font-size:1pt;color:white">Second Amendment to Lease Selig Holdings Company, LLC / CTI BioPharma Corp. Page 2 of 10 2. Term. The lease term (&quot;Term&quot;) is hereby extended, by three (3) years, bringing forth a new expiration date of April 30, 2025 (such additional period, the &quot;First Extension Term&quot;). From and after the Second Amendment Date, all references in the Lease to the &quot;Term&quot;, the &quot;term of the Lease&quot;, and/or the &quot;Lease term&quot; shall be deemed to mean &quot;the original term of the Existing Lease, as extended by the First Extension Term.&quot; 3. Reduction of Premises. On April 30, 2022 (at 11 :59 p.m. local time): (a) CTI shall relinquish all rights and responsibilities associated with the 6th and 7th floors of the Building (the &quot;First Reduction Premises&quot;); (b) CTI shall return the First Reduction Premises to Selig in a broom clean condition, normal wear and tear excepted, and otherwise in accordance with Section 7 of the Existing Lease; and ( c) Notwithstanding anything to the contrary contained herein, CTI shall continue to pay Selig as and when due for rent and all other amounts due under the Existing Lease that may accrue through April 30, 2022, as to the First Reduction Premises. 4. Existing Lease Terms. Upon the Extension Commencement Date: (a) The Premises shall mean the Existing Premises, less the First Reduction Premises. The &quot;Premises&quot; will consist of 23,147 rentable square feet measured in accordance with BOMA' s 201 7 Standard Method of Measurement and &quot;Lessee proportionate share&quot; shall be equal to 11.959% CTI and Selig acknowledge and agree that the number of rentable square feet in the Building in which the leased Premises are located is 193,552 square feet; (b) Notwithstanding anything to the contrary set forth in Section 19 of the Existing Lease, for purposes of determining Lessee's proportionate share of Operating Services and Real Estate Taxes, the &quot;Base Year&quot; shall be reset to 2022, and only actual increases from these Base Year Costs ( determined using a 2022 Base Year), if any, will be passed on to Lessee on a proportionate basis pursuant to the method set forth in the Existing Lease provided increases in Controllable Expenses shall not exceed five percent (5%) annually on a cumulative, compounding basis. The Monthly Rent described below includes CTI's proportionate share of Operating Services and Real Estate Taxes for the first twelve months of the First Extension Term, &quot;Base Year Costs&quot;, and CTI shall not be responsible for the payment of Lessee's proportionate share of increases in Operating Services and