Exhibit 10.1
THIRD AMENDMENT TO LEASE
THIS THIRD AMENDMENT TO LEASE (“this Third Amendment”) is made as of this 19 day of April, 2023 (“Effective Date”), between ARE-MARYLAND NO. 45, LLC, a Delaware limited liability company, having an address at 26 North Euclid Avenue, Pasadena, California 91101 (“Landlord”), and GLYCOMIMETICS, INC., a Delaware corporation, having an address at 9708 Medical Center Drive, Rockville, Maryland 20850 (“Tenant”).
RECITALS
A.BMR-Medical Center Drive LLC, a Delaware limited liability company (“Original Landlord”), and Tenant have entered into a Lease dated July 23, 2014 (“Original Lease”), wherein Original Landlord leased to Tenant premises containing approximately 30,691 rentable square feet (“9708 Premises”) located in the building (“9708 Building”) located at 9708 Medical Center Drive, Rockville, Maryland 20850, as more particularly described in the Original Lease.
B.Original Landlord and Tenant entered into that certain First Amendment to Lease dated March 24, 2016 (“First Amendment”), wherein Original Landlord leased to Tenant an additional 12,074 rentable square feet (“9712 Premises”) located in the Building (“9712 Building”) located at 9712 Medical Center Drive, Rockville, Maryland 20850, as more particularly described in the First Amendment.
C.Original Landlord and Tenant entered into that certain Second Amendment to Lease dated April 20, 2018 (“Second Amendment”; together with the Original Lease and the First Amendment, the “Lease”), wherein the parties thereto agreed to amend the Rentable Area of the 9708 Premises.
D.By that certain Special Warranty Deed dated as of May 8, 2018 and recorded among the Land Records of Montgomery County, Maryland in Book 56100, Page 90, Original Landlord conveyed to Landlord, among other things, the 9708 Building and the 9712 Building.
E.Landlord and Tenant desire to amend the Lease, among other things, to extend the Term of the Lease with respect only to the 9708 Premises.
AGREEMENT
Now, therefore, in consideration of the foregoing Recitals, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
1.Definitions; Recitals. Terms used in this Third Amendment but not otherwise defined shall have the meanings set forth in the Lease. The Recitals form an integral part of this Third Amendment and are hereby incorporated by reference.
2.Extension of Term for 9708 Premises Only. The Term Expiration Date for the 9708 Premises is October 31, 2023. Landlord and Tenant hereby agree that to extend the Term for the 9708 Premises only for the period beginning on November 1, 2023 and, unless earlier terminated in accordance with the terms of the Lease, expiring on January 31, 2025 (“First Extension Term”). Tenant shall have no further right to extend the Term of the Lease. The Term Expiration Date for the 9712 Premises shall remain October 31, 2023.
3.Base Rent During First Extension Term. During the First Extension Term, the Base Rent for the 9708 Premises shall be adjusted on November 1, 2023 and on each anniversary thereafter (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before the Adjustment
