|
Item 1.01.
|
Entry Into a Material Definitive Agreement.
|
Entry into Lease
Agreement regarding 347 Oyster Point Boulevard
On October 12, 2007, Monogram Biosciences, Inc., or Monogram, entered into a lease agreement with
Oyster Point Tech Center LLC, or the Landlord, with respect to the lease of an approximately 39,780 square foot facility located at 347 Oyster Point Boulevard, South San Francisco (the “347 lease”). The 347 lease term commences the earlier
of the date Monogram commences using the premises, or May 1, 2008, and expires April 30, 2018. The total basic monthly rent in the first year of the 347 lease will be $119,340, and will be incrementally increased each year, such that in
the final year of the lease the basic monthly rent will be $159,120. Under the 347 lease, Monogram will pay the Landlord certain commercially reasonable and customary operating costs of the rented facility, including those associated with certain
taxes, insurance, repairs, improvements, services, utilities, legal and accounting expenses and a management and accounting cost recovery fee equal to 3% of the base rent. The Landlord will provide to Monogram a tenant improvement allowance of up to
$1 million. Monogram has two successive five year options to extend the term of 347 lease at the then current market rent for comparable facilities.
Amendment of Lease Agreement regarding 345 Oyster Point Boulevard
On October 12, 2007, Monogram and the Landlord entered into a first
amendment to a lease dated May 25, 1999, with respect to the lease of an approximately 40,410 square foot facility located at 345 Oyster Point Boulevard, South San Francisco (the “345 lease”), effective October 5, 2007. Under the
amendment, the term of the 345 lease was extended by approximately 8 years, to April 30, 2018. The total basic monthly rent in the first year of the extended term, beginning March 1, 2010, will be $125,271, and will be incrementally
increased each year, such that in the final year of the amended 345 lease the basic monthly rent will be $161,640. Monogram will continue to have two successive five year options to extend the term of 345 lease at the then current market rent for
comparable facilities.
Amendment of Sublease Agreement regarding 343 Oyster Point Boulevard
On October 12, 2007, Monogram and DiaDexus, Inc. entered into a fourth amendment to a sublease originally dated June 1, 2002 with respect to the sublease by
Monogram of premises located at 343 Oyster Point Boulevard, South San Francisco (the “343 sublease”). Under the amendment, the term of the 343 sublease was extended by approximately 29 months, to May 20, 2011. The total basic monthly
rent in the first year of the extended term, beginning January 1, 2008, will be $77,342, and will be incrementally increased each year, such that in the final year of the amended 343 sublease the basic monthly rent will be $84,514. The fourth
amendment to the 343 sublease remains subject to the approval of ARE-Technology Center SSF, LLC, the landlord of the subleased premises.