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Second Lease Extension Agreement

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SECOND LEASE EXTENSION AGREEMENT



Building #5

1330 O92Brien Drive

Menlo Park, California 94025



THIS LEASE EXTENSION AGREEMENT (this "Agreement") is made and entered into on March 18 2008 by and between MENLO BUSINESS PARK, LLC, a California limited liability company ("Lessor"), and DEPOMED, INC., a California corporation (" Lessee").



RECITALS



A. Lessor and Lessee entered into a Lease dated April 30, 2003 and the Lease Extension Agreement dated July 28, 2006 (the "Lease") of the premises referred to as Building #5 located at 1330 O92Brien Drive, Menlo Park, California 94025, more particularly described on Exhibit "A" attached to the Lease and incorporated by reference herein (the "Premises"). The Premises contain approximately 25,366 rentable square feet of space.



B. The expiration date of the extended term of the Lease is June 30, 2009. Lessor and Lessee wish to extend the expiration date of the term of the Lease, subject to the terms and conditions set forth herein.



AGREEMENT



NOW THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:



1. Defined Terms . Terms defined in the Lease and used in this Agreement shall have the meaning ascribed to them in the Lease.



2. Extension of Term .



(a) The term of the Lease is hereby extended for a period of thirty-one (31) calendar months commencing on July 1, 2009 and ending on January 31, 2012 (the "Second Extension Term"). The Second Extension Term shall be upon all of the same terms and conditions of the Lease, except that the Monthly Base Rent payable by Lessee to Lessor during the Second Extension Term shall be as set forth in Paragraph 3 hereof.










(b) The option to extend provided for in Paragraph 3 of the Lease shall be for one (1) period of sixty (60) calendar months immediately following the expiration of the Second Extension Term and shall otherwise be upon the same terms and conditions as set forth in Paragraph 3 of the Lease.



3. Monthly Base Rent . Lessee shall pay to Lessor Monthly Base Rent during the Extension Term, in monthly installments in advance on a triple net basis in lawful money of the United States, as follows:



(a) Under the terms of the First Lease Extension Agreement, the next Rental Adjustment Date is scheduled to occur on May 1, 2008, resulting in a new Monthly Base Rent of Fifty Thousand Seven Hundred Thirty-Two Dollars ($50,732.00) per month ($2.00/square foot/NNN).



(b) Commencing on May 1, 2009 (the "Rental Adjustment Date"), on each anniversary date of the commencement the Monthly Base Rent shall be adjusted to reflect any increases in the cost of living. The adjustment shall be calculated upon the basis of the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index, all items, for all Urban Consumers - San Francisco-Oakland-San Jose (1982-84=100), hereafter referred to as the "Index." The Index for said subgroup published most recently as of the end of the calendar month immediately preceding the month in which the commencement date of the Extension Term occurs shall be considered the "Base Index.&quo
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