Exhibit 10.1
FIRST AMENDMENT TO lease
BETWEEN
SAN DIEGO CREEKSIDE, LLC
AND
aTYR PHARMA, INC.
THIS FIRST AMENDMENT TO LEASE (this “Amendment”) is effective as of June 1, 2023, by and between SAN DIEGO CREEKSIDE, LLC, a Delaware limited liability company (“Landlord”), and aTYR PHARMA, INC., a Delaware corporation (“Tenant”).
RECITALS
A. Landlord and Tenant are parties to that certain Lease dated as of May 12, 2022 (the “Original Lease”), with respect to a certain premises consisting of approximately 23,696 rentable square feet in the building located at 10240 Sorrento Valley Road, San Diego, California 92121 (the “Building”), which is part of a larger complex known as Creekside Labs (the “Project”).
B. Pursuant to a certain Notice of Lease Term Dates, Landlord and Tenant memorialized that the Rent Commencement Date occurred on March 20, 2023.
C. Pursuant to the Original Lease, the rentable square footage of the Premises is approximately 23,696, but the Premises is subject to re-measurement if Landlord adds one or more common area amenities available to all tenants within the Project in order to reflect Tenant’s pro rata portion of such amenities space following the completion of such amenities space (but such increase shall be based on an amenities area that does not exceed 7,500 rentable square feet even if the actual amenities area is in excess of 7,500 rentable square feet).
D. Prior to the end of May 2023, the amenities were completed thereby triggering a remeasuring of the Premises and a corresponding increase in Tenant’s rent schedule as described below.
E. By this Amendment, Landlord and Tenant desire to memorialize the remeasurement of the Premises and the new rent schedule.
NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree that the Original Lease is amended as follows:
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“Tenant’s Share of the Building shall be approximately 36.10%, and Tenant’s Share of the Project shall be approximately 18.92%, based on the calculations set forth in Section 4.2.6 of this Lease.”
“Tenant’s Share” is based upon the following ratios, as applicable: (i) for the Premises, the ratio that of the rentable square feet of the Premises bears to the rentable square feet of the Building (i.e., 24,866 ÷ 68,880) and shall mean the percentage set forth in Section 7 of the Summary, and (ii) for the Project, the ratio that of the rentable square feet of the Premises bears to the rentable square feet of the Project (i.e., 24,866 ÷ 131,412), subject to adjustment in the event that Landlord expands or contracts the amenities area pursuant to Section 1.2 above or Tenant physically expands or contracts the Premises within the Building. For the avoidance of doubt, except as provided herein, no remeasurement of the Building or Project shall result in an increase in the Base Rent payable under this Lease during the initial Lease Term.
Lease Term (in months) | Monthly | Monthly Base |
3-12 | $136,252.00 | $5.75 |
13-24 | $140,280.32 | $5.92 |
25-36 | $144,545.60 | $6.10 |
37-44 | $148,810.88 | $6.28 |
1 Note: Monthly Base Rent per rentable square foot has been rounded off to the nearest cent using conventional rounding principles.
2 Note: Tenant shall be entitled to receive Base Rent abatement for months 2 through 5, inclusive, of the Lease Term (the “Abatement Period”) as to the Base Rent applicable to the Premises (“Rent Abatement”), but Tenant shall be obligated to pay Tenant’s Share of Direct Expenses and separately metered utilities and janitorial costs during the Abatement Period. Months 1 and 2 have been intentionally omitted because this rent schedule commences June 1, 2023.
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| Lease Term (in months) | Monthly | Monthly Base |
|
| 45-48 | $156,158.48 | $6.28 |
|
| 49-60 | $160,883.02 | $6.47 |
|
| 61-72 | $165,856.22 | $6.67 |
|
| 73-84 | $170,829.42 | $6.87 |
|
| 85-96 | $175,802.62 | $7.07 |
|
| 97-108 | $181,024.48 | $7.28 |
|
| 109-120 | $186,495.00 | $7.50 |
|
| 121-124 | $192,214.18 | $7.73 |
|
3 Note: Monthly Base Rent per rentable square foot has rounded off to the nearest cent using conventional rounding principles.
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date of last signature below.
“LANDLORD” | “TENANT” | ||||
SAN DIEGO CREEKSIDE, LLC |
aTYR PHARMA, INC., | ||||
a Delaware limited liability company | A Delaware corporation | ||||
| |||||
By:/s/ Jessica Brock
| By:/s/ Jill M. Broadfoot | ||||
Print Name: Jessica Brock
| Print Name: Jill M. Broadfoot | ||||
Title:Authorized Signatory
| Title:Chief Financial Officer | ||||
Date:4/8/24 | Date:31-March-2024 | ||||
|
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