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THIRD AMENDMENT TO LEASE AGREEMENT

Lease Agreement

THIRD AMENDMENT TO LEASE AGREEMENT | Document Parties: EMERGENT BIOSOLUTIONS INC. | Antex Biologics, Inc | ARE-QRS CORP | Emergent Immunosolutions Inc | EMERGENT PRODUCT DEVELOPMENT GAITHERSBURG INC You are currently viewing:
This Lease Agreement involves

EMERGENT BIOSOLUTIONS INC. | Antex Biologics, Inc | ARE-QRS CORP | Emergent Immunosolutions Inc | EMERGENT PRODUCT DEVELOPMENT GAITHERSBURG INC

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Title: THIRD AMENDMENT TO LEASE AGREEMENT
Date: 11/7/2008
Industry: Biotechnology and Drugs     Sector: Healthcare

THIRD AMENDMENT TO LEASE AGREEMENT, Parties: emergent biosolutions inc. , antex biologics  inc , are-qrs corp , emergent immunosolutions inc , emergent product development gaithersburg inc
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EXHIBIT 10.2

THIRD AMENDMENT TO LEASE AGREEMENT

 

THIS THIRD AMENDMENT TO LEASE AGREEMENT (“ this Third Amendment ”) is made as of June 30, 2008, by and between ARE-QRS CORP. , a Maryland corporation, having an address at 385 E. Colorado Blvd., Suite 299, Pasadena, California 91101 (“ Landlord ”), and EMERGENT PRODUCT DEVELOPMENT GAITHERSBURG INC. , formerly known as Emergent Immunosolutions Inc. and as successor in interest to Antex Biologics, Inc., a Delaware corporation, having an address at Suite 100, 300 Professional Drive, Gaithersburg, Maryland 20879 (“ Tenant ”).

 

RECITALS

 

A.       Landlord and Tenant have entered into that certain Lease (“ Original Lease ”) dated as of December 1, 1998, as amended by a First Amendment to Lease dated as of September 30, 2004 (“ First Amendment ”), and a Second Amendment to Lease dated as of March 31, 2008 (“ Second Amendment ”; the Original Lease, the First Amendment, and the Second Amendment are hereinafter collectively referred to as the “ Lease ”), wherein Landlord leased to Tenant certain premises (“ Premises ”) located at 300 Professional Drive, Gaithersburg, Maryland 20879, as more particularly described herein and in the Lease. The Premises contain approximately 24,164 rentable square feet on the 1 st floor of the Building (“ First Floor Space ”) and approximately 12,252 rentable square feet comprising the Expansion Space located on the 2 nd floor of the Building.

 

B.        Landlord and Tenant intended that the Second Amendment apply only to the First Floor Space and not to the Expansion Space. As a result, that portion of the Lease applicable to the Expansion Space expires on November 30, 2008. Tenant now desires to extend the term of the Lease applicable to the Expansion Space for a period of 1 year so that it will expire on November 30, 2009, the expiration date of that portion of the Lease applicable to the First Floor Space. Thus, the expiration date for the entire Premises will be November 30, 2009. Landlord is willing to so extend the term of the Lease applicable to the Expansion Space on the terms herein set forth.

 

AGREEMENT

 

NOW, THEREFORE, the parties hereto agree that the Lease is amended as follows:

 

1.          Extension of Term . Effective as of the date hereof, the definition of Term Expiration Date in Section 2.1.7(c) of the Lease is hereby amended by deleting that definition in its entirety and replacing it with the following new definition so that the Term Expiration Date for the entire Premises (i.e., the First Floor Space and the Expansion Space) will occur on November 30, 2009:

 

 

(c)

Term Expiration Date : November 30, 2009, subject to extension as set forth in

 

 

Section 41.

 

2.        Increase in Expansion Space Base Rent . The Expansion Space Base Rent shall increase by the amount set forth in Section 6 of the Lease (i.e., 3%) for the period December 1, 2008 to November 30, 2009.

 

3.        Extension Right . Effective as of the date hereof, Section 41 the Lease (as amended by the First Amendment and the Second Amendment) is hereby deleted in its entirety and replaced with the following new Section 41:

 

41.      Extension Right . Tenant shall have the right (“ Extension Right ”) to extend the term of this Lease for 5 years (“ Extension Term ”) for the entire Premises only on the

 

 


Third Amendment to Lease Agreement– Emergent Product Development Gaithersburg,


 
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