Exhibit 10.3
SEVENTH AMENDMENT TO LEASE
AGREEMENT
This SEVENTH AMENDMENT TO LEASE
AGREEMENT (this “Amendment”) is entered into by and
between Ironwood Apartments, Inc., as successor to Metropolitan
Federal Savings and Loan Association (“Landlord”) and
Targeted Genetics Corporation (“Tenant”).
Landlord and Tenant are parties to
that certain Olive Way Building Lease dated November 20, 1992,
as modified by that certain First Amendment to Olive Way Building
Lease dated December 10, 1994, that certain Second Amendment
to Lease Agreement executed on June 12, 1996 and May 22,
1996, that certain Third Amendment to Lease Agreement dated
October 30, 1998, that certain Fourth Amendment to Lease
Agreement dated February 5, 2001, that certain Fifth Amendment
to Lease Agreement dated June 20, 2003, and that certain Sixth
Amendment to Lease Agreement dated November 7, 2003 (as
modified, the “Lease”).
Section 4.02 of the Lease
grants to Tenant three (3) options to extend the Lease term
for five (5) years each. Tenant has exercised the first and
second of these three options, leaving one final option remaining.
The purpose of this Amendment is to modify the Lease to reflect the
exercise Tenant’s final option to extend the Lease
term.
Landlord and Tenant do hereby amend
the Lease as follows:
1 . EXTENSION. The term of the Lease
is hereby extended for an additional 60 months to April 1,
2014. The rent for the extended term is set forth in
Section 6.04 of the Lease.
2. NO OTHER
AMENDMENTS. Except as
modified by this Amendment and by the Amendments referenced above,
the Lease remains in full force and effect and has not been
modified or amended.
DATED: December 30,
2008.
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LANDLORD:
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IRONWOOD APARTMEN
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