SEC Contract Filing

Filing Date: 2020-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>2
<FILENAME>acrs-20200331ex105bdce95.htm
<DESCRIPTION>EX-10.5
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.5.0.55--><!--Created on: 5/7/2020 08:20:41 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:28.8pt;width:100%;"><p style="font-family:'Times New Roman';font-size:12pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 10.5</b></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:12pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration:underline;">SECOND AMENDMENT TO SUBLEASE</b></p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">This Second Amendment to Sublease (this &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Amendment</u>&#8221;) dated as of this 29th day of April 2020 by and between <b style="font-weight:bold;">Aclaris Therapeutics, Inc.</b>, a Delaware corporation, with offices located at 640 Lee Road, Suite 200, Wayne, Pennsylvania 19087 (&#8220;<b style="font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Subtenant</b>&#8221;), and <b style="font-weight:bold;">Auxilium Pharmaceuticals, LLC</b>, a Delaware limited liability company, with offices located at 1400 Atwater Drive, Malvern, PA 19355 (&#8220;<b style="font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Sublandlord</b>&#8221;).</p><p style="font-family:'Times New Roman';font-size:12pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">W I T N E S E T H:</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">WHEREAS</b>, Sublandlord and Subtenant entered into that certain Sublease dated as of November 2, 2017, as amended (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Sublease</u>&#8221;), pursuant to which Sublandlord subleased to Subtenant that certain Sublease Premises consisting of 33,019 square feet of space in the aggregate located at 640 Lee Road, Wayne, PA, comprised of the entire second floor of the Master Lease Premises and a portion of the first floor, as more fully described in the Lease; </p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">WHEREAS</b>, Sublandlord and Subtenant have agreed to modify the Sublease with respect to Subtenant&#8217;s right to further sublease the Sublease Premises.</p><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">NOW, THEREFORE</b>, for and in consideration of the aforesaid recitals and the covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, Sublandlord and Subtenant hereby agree as follows:</p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">1.</font><b style="font-weight:bold;">Capitalized Terms</b>. &#160;Capitalized terms used herein, but not defined herein, shall have the meanings ascribed to such terms in the Sublease.</div><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;white-space:nowrap;">2.</font><b style="font-weight:bold;">Subtenant&#8217;s Right to Sublease</b>. &#160;Section 6(g)(i) of the Sublease is hereby deleted and replaced with the following:</div><p style="font-family:'Times New Roman';font-size:12pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 36pt;"><font style="display:inline-block;text-align:left;width:36pt;"><b style="background-color:#ffffff;color:#000000;font-family:'Times New Roman';font-size:12pt;font-style:normal;font-weight:bold;text-align:justify;">&#8220;(g)</b></font><b style="background-color:#ffffff;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Assignment and Subletting</b><font style="background-color:#ffffff;">. &#160;</font></p><div style="font-family:'Times New Roman';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:108pt;"><font style="display:inline-block;min-width:36pt;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">(i)</font><font style="background-color:#ffffff;">Subject to the prior written consent of the Master Landlord, Subtenant may, with Sublandlord&#8217;s prior written consent, which will not be unreasonably withheld or delayed, assign this Sublease or sublet </font>either (x) the entire second floor of the Sublease Premises, (y) the entire first floor of the Sublease Premises, or (z) the entire Sublease Premises.<font style="background-color:#ffffff;"> &#160;Any sale, assignment or transfer (whether by one or a series of related or unrelated transactions and whether voluntarily, involuntarily or by operation of law or otherwise) of fifty percent (50%) or more of the direct or indirect ownership interests in Subtenant, or which results in a change of the persons having direct or indirect control of Subtenant, shall be deemed an assignment of this Sublease requiring Sublandlord&#8217;s consent, which will not be unreasonably withheld or delayed. &#160;Regarding the cafeteria area located on the first floor of the Sublease Premises, Subtenant shall have the righ