Exhibit 10.55
SECONDAMENDMENTTOLEASE
ThisSecondAmendmenttoLease(this“Amendment”)isdatedasof March 3, 2015,andismadebyandbetweenTheBubbleRealEstate Company,LLC,aCalifornialimitedliability company (“Lessor”)andCapricor,Inc., aDelawarecorporation(“Lessee”),withreferencetothefollowingfactsand circumstances:
A. LessorandLesseeexecutedthatcertainLeaseAgreementdatedMarch29,2012as subsequentlyamended bythat certainFirstAmendmenttoLeasedatedJune 13,2013(collectivelythe“Lease”),forthepremiseslocated at8840 WilshireBoulevard, 2nd Floor,Beverly Hills, California90211.
B. LesseehasagreedtoexercisetheOptiontoExtendtheLeaseTermandLessorandLesseehaveagreedtoredefinetheLeasedPremises as set forthinthisAmendment.
NOW,THEREFORE,forgoodandvaluableconsideration,thereceiptand sufficiencyofwhichareherebyacknowledged,Lessor and Lesseeagreeasfollows:
1. LEASEDPREMISES.Article1oftheLeaseisherebymodifiedtoincludethefollowing additional space:
i. Room#251
ii. AdminBay#270
2. EXERCISEOFOPTIONTO EXTENDLEASETERM:PursuanttoArticle2.b.2.2oftheFirst Amendment to LeasedatedasofJune13,2013,Lesseehereby exercisesitsoptionto extendthetermoftheLease foranadditionaltwelve(12)monthscommencingJuly 1,2015 and ending June 30, 2016.
3. Rent.Article3.1andArticle3.2oftheLeaseasamended bytheFirstAmendmentarehereby modifiedasfollows:
3.1-During Term:
i. CommencingFebruary 2,2015:LesseeagreestopayLessor asrentforthePremises thesum of$17,957atthebeginningofeachmonth. Such rental amount consists of Lessee’s rent for the Premises including Admin Bay #270.Lessee’sfirstpaymentshallincludeonemonth’sfullrentplus$672, whichamountshall increaseLessee’sexistingsecuritydepositsoastoequal$17,957.
ii. CommencingMarch2,2015:LesseeagreestopayLessorasrentforthePremises thesumof$21,420atthebeginning ofeach month. Such rental amount consists of Lessee’s rent for the Premises including Admin Bay #270 and Room #251.Lessee’sfirstpaymentshallincludeonemonth’sfullrentplus$3,463, whichamountshall increaseLessee’sexistingsecuritydepositsoastoequal$21,420.
3.2-DuringExtendedTerm:CommencingJuly1,2015,LesseeagreestopayLessor asrentforthePremisesthesumof$22,111atthebeginningofeachmonth. Such rental amount consists of Lessee’s rent for all of the Premises including Admin Bay #270 and Room #251.Lessee’s firstpayment shall includeonemonth’sfullrentplus$691,which amountshall increaseLessee’sexistingsecuritydepositsoastoequal$22,111.
4. Reaffirmation.Asmodifiedhereby,theLeaseisreaffirmedandratifiedbythepartiesin itsentirety.
| LESSOR | LESSEE | |||
| TheBubbleReal Estate Company,LLC, | Capricor,Inc., | |||
| a California limited liabilitycompany | a Delawarecorporation | |||
| By: | /s/ Bill Sheinberg | By: | /s/ Karen Krasney | |
| Name: | Bill Sheinberg | Name: | Karen Krasney | |
| Title: | Member | Title: | EVP and General Counsel | |
