SEC Contract Filing

Filing Date: 2016-11-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v451594_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.2</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FIFTH AMENDMENT TO LEASE</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS FIFTH AMENDMENT
TO LEASE (this &ldquo;<B>Fifth Amendment</B>&rdquo;) is made as of September&nbsp;27, 2016, by and between <B>ARE-SEATTLE NO.
10, LLC</B>, a Delaware limited liability company (&ldquo;<B>Landlord</B>&rdquo;), and <B>PHASERX INC.</B>, a Delaware corporation
(&ldquo;<B>Tenant</B>&rdquo;).</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RECITALS</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>A.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Landlord
and Tenant entered into that certain Lease Agreement dated as of February 9, 2010, as amended by that certain First Amendment to
Lease dated as of October 1, 2014, as further amended by that certain Second Amendment to Lease dated as of May 21, 2015, as further
amended by that certain Third Amendment to Lease dated as of September 8, 2015, and as further amended by that certain Fourth Amendment
to Lease dated as of February 23, 2016 (as amended, the &ldquo;<B>Lease</B>&rdquo;). Pursuant to the Lease, Tenant leases certain
premises consisting of approximately 2,896 rentable square feet (&ldquo;<B>Premises</B>&rdquo;) in a building located at 410 Elliott,
Seattle, Washington. The Premises are more particularly described in the Lease and are part of the Project legally described on
the attached <U>Exhibit A</U>. Capitalized terms used herein without definition shall have the meanings defined for such terms
in the Lease.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>B. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
Base Term of the Lease is scheduled to expire on November 30, 2016.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Landlord
and Tenant desire, subject to the terms and conditions set forth herein, to amend the Lease to, among other things, extend the
Term of the Lease through November 30, 2021 (the &ldquo;<B>Extended Expiration Date</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE,</B>
in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions
contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Landlord and Tenant hereby agree as follows:</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B><U>Term</U></B>. The Term of the Lease is hereby extended through the Extended Expiration Date.
Tenant&rsquo;s occupancy of the Premises through the Extended Expiration Date shall be on an &ldquo;as-is&rdquo; basis and Landlord
shall have no obligation to provide any tenant improvement allowance or to make any alterations to the Premises.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B><U>Base Rent</U></B>. Tenant shall continue to pay Base Rent as provided in the Lease through
November&nbsp;30, 2016. Commencing on December 1, 2016, Tenant shall pay Base Rent in the amount of $15.33 per rentable square
foot of the Premises per year. Base Rent shall be increased on each December 1<SUP>st</SUP> thereafter through the Extended Expiration
Date (each, a &ldquo;<B>Fifth Amendment Adjustment Date</B>&rdquo;), by multiplying the Base Rent payable immediately before such
Fifth Amendment Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately
before such Fifth Amendment Adjustment Date.</TD></TR></TABLE>

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