SEC Contract Filing

Filing Date: 2022-11-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>rmed-ex101_6.htm
<DESCRIPTION>EX-10.1
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Arial;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.1</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;line-height:13pt;margin-bottom:0pt;margin-left:0.77%;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Arial;font-style:normal;text-transform:none;font-variant: normal;">LEASE TERMINATION AGREEMENT</p>
<p style="text-align:justify;margin-top:24pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This Lease Termination Agreement (&#8220;Agreement&#8221;) is entered into as of October 24, 2022 between Anaya Holdings LLC, a California limited liability company (successor-in-interest to the Lloyd Wells Gift Trust dated November 24, 1987) (&#8220;Lessor&#8221;) and RA Medical Systems, Inc., a Delaware corporation (successor-in-interest to RA Medical Systems, Inc., a California corporation) (&#8220;Lessee&#8221;).</p>
<p style="text-align:justify;margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Lessee is a lessee of the premises located at 2070 Las Palmas Drive, Carlsbad, CA 92011 (&#8220;Premises&#8221;) pursuant to a lease agreement dated August 17, 2017 (&#8220;Lease&#8221;); and</p>
<p style="margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Lessor is the lessor of the Premises pursuant to the Lease; and</p>
<p style="text-align:justify;margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Lessor and Lessee desire to terminate the Lease and to each be released of its obligations under the Lease prior to the expiration of the term of the Lease; and</p>
<p style="text-align:justify;margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Entos Pharmaceuticals, a new lessee of Lessor (&#8220;Prospective Lessee&#8221;), desires to lease and to occupy the Premises;</p>
<p style="text-align:justify;margin-top:12pt;line-height:11pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, Lessor agrees to terminate the Lease prior to its expiration date in consideration of the following terms and conditions:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">1.</font><font style="font-size:12pt;font-family:Times New Roman;margin-left:36pt;color:#000000;"></font><font style="font-weight:bold;text-decoration:underline;color:#000000;">Termination of Lease/Surrender of Premises</font><font style="font-weight:bold;color:#000000;">. </font><font style="color:#000000;">Subject to the complete performance of the conditions set forth in Section 4 of this Agreement, the Lease shall be deemed terminated and Lessee completely released of all of its obligations thereunder at midnight on October 31, 2022 (the &#8220;Termination Date&#8221;). On the Termination Date, (i) the Premises shall be turned over to Lessor in its current as-is condition, and (ii) Lessor shall have complete and unrestricted access to the Premises. Lessor </font><font style="color:#000000;">expressly waives the provisions of California Civil Code Section&#160;1542, which provides as follows:</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;line-height:11pt;text-indent:0%;font-weight:normal;font-style:normal;color:#000000;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">2.</font><font style="font-family:Times New Roman;font-size:11pt;margin-left:36pt;color:#000000;"></font><font style="font-weight:bold;text-decoration:underline;letter-spacing:-0.05pt;">Consideration</font><font style="font-weight:bold;letter-spacing:-0.05pt;">. </font><font style="letter-spacing:-0.05pt;">As consideration for Lessee vacating the Premises prior to the expiration </font>of the Lease and in a timely and orderly manner and in full satisfaction of its payment obligations under the Lease, Lessee shall, not later than the Termination Date (i) be deemed to have released its rights to the Security Deposit in the amount of $36,017.14, and (ii) pay Lessor the additional amount of $300,000. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;line-height:11pt;text-indent:0%;font-weight:bold;font-style:normal;color:#000000;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">3.</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;margin-left:36pt;color:#000000;">