Exhibit 10.20
SECOND AMENDMENT TO LEASE
THIS SECOND AMENDMENT TO LEASE (this “Second Amendment”) is made as of August 2022, by and between ARE-MA REGION NO. 59, LLC, a Delaware limited liability company (“Landlord”), and KORRO BIO, INC., a Delaware corporation (“Tenant”).
RECITALS
NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
“Base Term: Beginning on (i) the Commencement Date with respect to the Original Premises only and (ii) the 1400 Building Premises Commencement Date with respect to the 1400 Building Premises only, and ending for the entire Premises on December 31, 2023.”
Delivery. The “1400 Building Premises Commencement Date” shall be the date that is 1 business day after mutual execution by the parties of this Second Amendment. Except as otherwise expressly set forth in the Lease: (i) Tenant shall accept the 1400 Building Premises in their “as-is” condition as of the 1400 Building Premises Commencement Date; (ii) Landlord shall have no obligation for any defects in the 1400 Building Premises; and (iii) Tenant’s taking possession of the 1400 Building Premises shall be conclusive evidence that Tenant accepts the 1400 Building Premises.
Landlord and Tenant acknowledge that (a) Tenant occupied the 1400 Building Premises prior to the 1400 Building Premises Commencement Date pursuant to that certain sublease agreement
between Triplet Therapeutics, Inc. (“Triplet”), the current tenant of the 1400 Building Premises, and Tenant (the “Sublease”), and (b) Triplet is terminating its existing lease (the “Triplet Lease”) with respect to the 1400 Building Premises and the Sublease is being terminated concurrently therewith. Landlord confirms that on or prior to the 1400 Building Premises Commencement Date, the Triplet Lease shall have been terminated.
“Building: Building 600/700 One Kendall Square, Cambridge, MA 02139 (the “600/700 Building”) and Building 1400 One Kendall Square, Cambridge, MA 02139 (the “1400 Building”).”
“Rentable Area of Building: 246,793 sq. ft. with respect to the 600/700 Building and 134,304 sq. ft. with respect to the 1400 Building.”
“Premises: That portion of (a) the 600/700 Building, containing approximately 12,165 rentable square feet on the 4th floor of the 600/700 Building commonly known as Suite 6- 401 (“Original Premises”), and (b) the 1400 Building, containing approximately 10,396 rentable square feet on the 2nd floor of the 1400 Building commonly known as Suite 14- 201 (“1400 Building Premises”), all as determined Landlord, as shown on Exhibit A.”
“Rentable Area of Premises: 22,561 sq. ft.”
“Security Deposit: $602,567.75”
Landlord currently holds a Security Deposit of $301,083.75 under the Lease. Concurrently with Tenant’s delivery to Landlord of an executed copy of this Second Amendment, Tenant shall deliver to Landlord an amended Letter of Credit which increases the amount of the existing Letter of Credit being held by Landlord to $602,567.75 or an additional Letter of Credit in the amount of
$301,484.00 (the “Additional Security Deposit”).
obligation to make any repairs or other improvements to the Storage Area and Tenant shall maintain the same, at Tenant’s sole cost and expense, in substantially the same condition as received during the term as though the same were part of the Premises. Tenant shall not make any alterations, additions, or improvements to the Storage Area of any kind whatsoever. Tenant shall, at Tenant’s sole cost and expense, surrender the Storage Area at the expiration nor earlier termination of the term of the Lease free of any debris and trash and free of any Hazardous Materials in accordance with the requirements of Section 28 of the Lease. The term of the Lease with respect to the Storage Area shall expire on the expiration or earlier termination of the term of the Lease.
[Signatures are on next page]
IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment as of the day and year first above written.
TENANT:
KORRO BIO, INC.,
a Delaware corporation
By: /s/ Ram Aiyar
Name: Ram Aiyar
Its: Chief Executive Officer
☒ I hereby certify that the signature, name, and title above are my signature, name and title.
LANDLORD:
ARE-MA REGION NO. 59, LLC,
a Delaware limited liability company
By: ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
a Delaware limited partnership, managing member
By: ARE-QRS CORP.,
a Maryland corporation, general partner
By: /s/ Allison Grochola
Name: Allison Grochola
Its: SVP – Real Estate Legal Affairs
EXHIBIT A
DESCRIPTION OF 1400 BUILDING PREMISES
EXHIBIT B
DESCRIPTION OF STORAGE AREA
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