SEC Contract Filing

Filing Date: 2020-10-02

Document Content:
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<TYPE>EX-10.1
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<DIV><FONT size="1" style="font-size:1pt;color:white"> THE BOARDWALK LEASE This Lease (the &quot;Lease&quot;), dated as of the date set forth in Section 1 of the Summary of Basic Lease Information (the &quot;Summary&quot;), below, is made by and between TPSC IX, LLC, a Delaware limited liability company (&quot;Landlord&quot;), and ZENTALIS PHARMACEUTICALS, INC., a Delaware corporation (&quot;Tenant&quot;). SUMMARY OF BASIC LEASE INFORMATION TERMS OF LEASE DESCRIPTION 1. Date: September 25, 2020. 2. Premises (Article 1). 2.1 Building: 10275 Building: That certain building to be constructed by Landlord and to be located at 10275 Science Center Drive, San Diego, California (the &quot;10275 Building&quot;). 10285 Building: That certain building to be constructed by Landlord and to be located at 10285 Science Center Drive, San Diego, California (the &quot;10285 Building&quot;). As used herein, the 10275 Building and the 10285 Building shall be known collectively as the &quot;Building.&quot; 2.2 Premises: Approximately 117,929 rentable square feet of space consisting of (i) approximately 74,695 rentable square feet of space located on a portion of the first (1st) floor and the entire second (2nd) floor of the 10275 Building and which is all of the leasable space in the 10275 Building, and (ii) approximately 43,234 rentable square feet of space located on the entire first (1st) floor and the entire second (2nd) floor of the 10285 Building and which is all of the leasable space the 10285 Building, as further set forth in Exhibit A to the Lease. 3. Lease Term (Article 2). 3.1 Length of Term: Ten (10) years and eight (8) months. 3.2 Lease Commencement The earlier to occur of (i) the date upon which Tenant Date: first commences to conduct business in the Premises and (ii) the Possession Date (as that term is defined in Section 1.1.1 of this Lease). 3.3 Lease Expiration Date: If the Lease Commencement Date shall be the first day of a calendar month, then the day immediately preceding the ten (10) year eight (8) month anniversary of the Lease Commencement Date; or, if the Lease 822610.04/WLA [THE BOARDWALK] 183362-00050/9-24-20/mem/mem [Zentalis Pharmaceuticals, Inc.]</FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> Commencement Date shall be other than the first day of a calendar month, then the last day of the month in which the ten (10) year eight (8) month anniversary of the Lease Commencement Date occurs. 4. Base Rent (Article 3): Approximate Monthly Monthly Base Annual Installment Rent per Rentable Lease Year Base Rent of Base Rent Square Foot* 1** $7,500,284.40 $625,023.70 $5.30 2** $7,725,292.92 $643,774.41 $5.46 3 $7,957,051.68 $663,087.64 $5.62 4 $8,195,763.24 $682,980.27 $5.79 5 $8,441,636.16 $703,469.68 $5.97 6 $8,694,885.24 $724,573.77 $6.14 7 $8,955,731.76 $746,310.98 $6.33 8 $9,224,403.72 $768,700.31 $6.52 9 $9,501,135.84 $791,761.32 $6.71 10 $9,786,169.92 $815,514.16 $6.92 11 (eight months) $10,079,755.08 $839,979.59 $7.12 * The calculation of the Approximate Monthly Base Rent per Rentable Square Foot reflects an annual increase of 3%, rounded to the nearest cent, after the previous Lease Year. ** Tenant's obligation to pay Monthly Installment of Base Rent for (i) the second (2nd) through ninth (9th) full calendar months following the Lease Commencement Date with respect to the 10275 Building, and (ii) the second (2nd) through fourteenth (14th) full calendar months following the Lease Commencement Date with respect to the 10285 Building, shall be subject to the terms of Section 3.2 of the Lease. 5. Tenant Improvement Allowance (Exhibit B): An amount equal to $240.00 per rentable square foot of the Premises (i.e., $28,302,960.00 based upon 117,929 rentable square feet in the Premises). 6. Tenant's Share (Article 4): 10275 Building: One hundred percent (100%). 10285 Building: One hundred percent (100%). 822610.04/WLA [THE BOARDWALK] 183362-00050/9-24-20/mem/mem -2- [Zentalis Pharmaceuticals, Inc.]</FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> 7. Permitted Use (Article 5): The Premises shall be used only for general office, research and development, engineering, laboratory, storage and/or warehouse uses, including, but not limited to, administrative offices and other lawful uses reasonably related to or incidental to such specified uses, all (i) consistent with first class life sciences projects in the La Jolla area of San Diego, California (&quot;First Class Life Sciences Projects&quot;), and (ii) in compliance with, and subject to, Applicable Laws (as that term is defined in Article 24) and the terms of this Lease. 8. Letter of Credit (Article 21): $1,076,985.00. 9. Parking (Article 28): Three hundred two (302) unreserved parking spaces, provided that (i) Tenant shall have the right to convert up to fifteen (15) of Tenant's unreserved parking spaces to reserved parking spaces near the main entrance to the 10275 Building or in the 10275 Building's subterranean parking garage (subject to Landlord's reasonable designation of the location of such spaces), and (ii) such unreserved parking spaces shall include the exclusive