AGREEMENT FOR TERMINATION OF LEASE
This Agreement for Termination of Lease (this “Agreement”) is made and entered into as of July 19, 2023, by and between ARE-10933 NORTH TORREY PINES, LLC, a Delaware limited liability company (“Landlord”), and SINGULAR GENOMICS SYSTEMS, INC., a Delaware corporation (“Tenant”), with reference to the following:
RECITALS
NOW, THEREFORE, in consideration of the foregoing and of the mutual promises made herein, and for other good and valuable consideration the receipt of which is hereby acknowledged, Landlord and Tenant agree as follows:
Provided that the Continency is satisfied and provided further that Tenant is not in default (beyond any applicable cure or grace period) under either the 3010 SPR Lease and/or the 3033 SPR Lease, then Landlord shall, within 10 business days after the date that the Contingency is satisfied, deliver to Tenant funds in the amount of $1,840,388.58 (the “Initial Termination Payment”), as consideration for Tenant’s agreement to accelerate the expiration date of the Term of the Lease as provided in this Agreement. In addition, provided that the Contingency is satisfied and provided further that Tenant is not in default (beyond any applicable cure or grace period) under either the 3010 SPR Lease and/or the 3033 SPR Lease, then Landlord shall, no later than the date that is 135 days after the date that the Contingency is satisfied, deliver to Tenant funds in the amount of $982,619.74 (the “Second Termination Payment”), as further consideration for Tenant’s agreement to accelerate the expiration date of the Term of the Lease as provided in this Agreement.
[Signatures are on the next page]
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.
TENANT:
SINGULAR GENOMICS SYSTEMS, INC.,
a Delaware corporation
By: Name: Dalen Meeter Its: CFO
[X] I hereby certify that the signature, name,
and title above are my signature, name and title
LANDLORD:
ARE-10933 NORTH TORREY PINES, LLC,
a Delaware limited liability company
By: Alexandria Real Estate Equities, Inc., a Maryland corporation,
managing member
By: Name: Gary Dean
Its: Executive Vice President – Real Estate Legal Affairs
[X] I hereby certify that the signature, name,
and title above are my signature, name and title