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10-Q
PROTEON THERAPEUTICS INC filed this Form 10-Q on 11/07/2017
Entire Document
 
Exhibit 10.2

 

3.(A)    For the portion of the Lease Term prior to July 1, 2018, Annual Fixed Rent for the Original Premises shall continue to be paid by Tenant as provided in the Lease. During the Fourth Extended Term, Annual Fixed Rent shall be payable by Tenant for the Original Premises at the annual rate of $182,891.00 (being the product of (i) $37.00 and (ii) the Rentable Floor Area of the Original Premises (being 4,943 square feet)).

 

(B)       During the period from the Additional Premises Commencement Date through the end of the Fourth Extended Term, Annual Fixed Rent shall be payable by Tenant for the Additional Premises at the annual rate of $94,424.00 (being the product of (i) $37.00 and (ii) the Rentable Floor Area of the Additional Premises (being 2,552 square feet)).

 

(C)       Annual Fixed Rent shall be payable during the extension option period, if exercised, as set forth in Section 1(B) above.

 

4.For the purposes of computing “Landlord’s Tax Expenses Allocable to the Premises” (as defined in Section 2.7 of the Lease), “Operating Expenses Allocable to the Premises” (as defined in Section 2.6 of the Lease), and Tenant payments for electricity (as determined pursuant to Sections 2.5 and 2.8 of the Lease) for the portion of the Lease Term on and after the Additional Premises Commencement Date, the “Rentable Floor Area of the Premises” shall comprise a total of 7,495 square feet including the Rentable Floor Area of the Original Premises (being 4,943 square feet) and the Rentable Floor Area of the Additional Premises (being 2,552 square feet). For the portion of the Lease Term prior to the Additional Premises Commencement Date, the Rentable Floor Area of the Premises shall continue to be as provided in the Lease for such purposes.

 

5.Effective as of the Additional Premises Commencement Date, the definition of “Base Operating Expenses” contained in Section 2.6 of the Lease shall be deleted in its entirety and the following substituted therefor:

 

“Base Operating Expenses” with respect to the Original Premises shall mean Landlord’s Operating Expenses for calendar year 2015 (that is, the period beginning January 1, 2015 and ending December 31, 2015). “Base Operating Expenses” with respect to the Additional Premises shall mean Landlord’s Operating Expenses for calendar year 2018 (that is, the period beginning January 1, 2018 and ending December 31, 2018). Base Operating Expenses in either case shall not include (i) market-wide cost increases due to extraordinary circumstances, included but not limited to Force Majeure (as defined in Section 6.1 of the Lease), conservation surcharges, boycotts, strikes, embargoes or shortages and (ii) the cost of any Permitted Capital Expenditures.

 

6.Effective as of the Additional Premises Commencement Date, the definition of “Base Taxes” contained in Section 2.7 of the Lease shall be deleted in its entirety and the following substituted therefor:

 

“Base Taxes” with respect to the Original Premises means Landlord’s Tax Expenses (hereinbefore defined) for fiscal tax year 2015 (that is, the period beginning July 1, 2014 and ending June 30, 2015). “Base Taxes” with respect to the Additional Premises means Landlord’s Tax Expenses for fiscal tax year 2018 (that is, the period beginning July 1, 2017 and ending June 30, 2018).

 

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200 West Street\Amendments\Proteon Fourth Amendment (e)