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Exhibit
10.108
FOURTH AMENDMENT
TO THAT LEASE
BY AND BETWEEN
THE NORTHWESTERN MUTUAL LIFE
INSURANCE COMPANY, as Landlord
and
CORTEX PHARMACEUTICALS, INC.,
as Tenant
ORIGINAL LEASE DATE: JANUARY
31, 1994
THIS FOURTH AMENDMENT is made
and entered into as of May 29, 2008, and hereby deletes,
alters, changes supplements or amends the following Articles and/or
Sections of the above-referenced Lease.
ARTICLE 1. BASIC LEASE
PROVISIONS
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Section 1.05
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Lease
Term: Effective June 1, 2009, the Lease Term shall be extended
three (3) years, from fifteen (15) years to eighteen (18)
years. |
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Section 1.06
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Termination: Effective June 1, 2009, the Lease Termination Date
shall be extended three (3) years, from May 31, 2009, to May 31,
2012. |
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Section 1.09
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Minimum
Monthly Rent: The Minimum Monthly Rent for the three (3) year
extended Lease Term shall be as follows: |
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June. 1, 2009 – May 31,
2010
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$ |
36,282.38 |
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June. 1, 2010 – May 31,
2011
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$ |
37,894.93 |
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June. 1, 2011 – May 31,
2012
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$ |
39,507.48 |
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Exhibit “C”
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Effective
as of May 29, 2008, Exhibit “C” shall be amended
to provide in full as follows: |
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“Tenant shall accept the Premises in its
“AS-IS” condition, and Landlord shall have no
obligation whatsoever to construct or provide an tenant
improvements to or on behalf of Tenant; provided, however, that
Landlord shall provide Tenant with an improvement allowance (the
“Allowance”) in the aggregate sum of $257,198.97 (which
sum represents the original $322,510.00 Allowance provided to
Tenant in accordance with the provisions of the Second Amendment to
Lease, less the $65,311.03 portion thereof spent by Tenant to
date). Tenant may use the Allowance for soft and hard costs of
tenant improvements, space planning and design, construction fees,
upgrade of building systems, paint, carpet and tile, emergency
power generators, and signage. |
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Subject
to Landlord’s prior approval, which approval shall not be
unreasonably withheld, Tenant shall have the right to use
contractors, subcontractors and engineers of Tenant’s choice
for the construction and design of its tenant improvements. All
tenant improvements shall be constructed in accordance with the
requirements of applicable building codes, and shall remain subject
to the requirements of Article 13 of the Lease.” |
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Exhibit F, Section
4.04
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Option to
Extend the Term of Lease shall be modified to provide in full as
follows: |
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“Landlord hereby grants to Tenant an Option to Extend the
term of this Lease for three (3) one (1)-year periods commencing
upon the expiration of the initial term and any extended term
hereof, as the case may be, and subject to and contingent upon each
and every one of the following terms and conditions: |
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(i)Tenant
shall give Landlord written notice of its intent to exercise this
Option not earlier than twelve (12) months, nor later than nine (9)
months, prior to the termination of the initial term or any
applicable extended term of this Lease, as the case may
be. |
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(ii)Both
at the time of giving notice of its inten |
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