Item 1.01. Entry into a Material Definitive Agreement.
On January 4, 2021, Arvinas Operations, Inc. (the "Company"), a wholly-owned
subsidiary of Arvinas, Inc. (the "Registrant"), entered into a Fifth Amendment
to Lease (the "Fifth Lease Amendment") with Science Park Development Corporation
(the "Landlord"), which amends that certain Lease, dated as of December 31, 2017
(as amended, the "2017 Lease"), by and between the Company and the Landlord, for
office and laboratory space in New Haven, Connecticut (the "2017 Leased
Premises"). The Fifth Lease Amendment expands the 2017 Leased Premises to
include approximately an additional 10,000 rentable square feet for a total of
approximately 60,000 rentable square feet, extends the term of the 2017 Lease to
December 31, 2024, and increases the monthly base rent for the period of January
2023 to December 2024 to $116,469.91. The other material terms of the 2017 Lease
(including the monthly base rent for the period until December 2022) remain
unchanged.
In addition, on January 4, 2021, the Company entered into a Second Amendment to
Lease (the "Second Lease Amendment") with Landlord, which amends that certain
Lease, dated as of November 15, 2019 (as amended, the "2019 Lease"), by and
between the Company and the Landlord, for office and laboratory space in New
Haven, Connecticut (the "2019 Leased Premises"). The Second Lease Amendment
extends the term of the 2019 Lease to December 31, 2024 and increases the
monthly base rent for the period of January 2023 to December 2024 to $6,893.33.
In addition, the Second Lease Amendment corrects a scrivener's error in the 2019
Lease to reflect the correct annual base rent per rentable square foot of $21.00
for the period of June 1, 2020 to December 31, 2022. The other material terms of
the 2019 Lease remain unchanged.
The foregoing descriptions of the Fifth Lease Amendment and Second Lease
Amendment do not purport to be complete and are qualified in their entirety by
reference to the Fifth Lease Amendment and Second Lease Amendment, copies of
which the Registrant intends to file with the Securities and Exchange Commission
as exhibits to the Registrant's Annual Report on Form 10-K for the year ended
December 31, 2020.
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