On October 18, 2022, Eterna Therapeutics Inc., (the Company), entered into a sublease agreement (the Sublease) with E.R. Squibb & Sons, L.L.C., (Sublessor), for office and laboratory space (the Premises). The Premises consists of approximately 45,500 square feet on the ninth floor of the building currently under construction located at 250 Water Street, Somerville, Massachusetts 02141. The Sublease rent commences on the date that is the earlier of (i) the date that the Company commences business operations from the Premises and (ii) the date that is the one-year anniversary of the later to occur of (A) October 18, 2022 and (B) the date that Sublessor obtains the primary landlord's consent for the Sublease (such applicable date, the Rent Commencement Date).

The Sublease has a term of 10 years from the Rent Commencement Date (the Term), subject to a five-year extension in accordance with the terms of the Sublease. Pursuant to the Sublease, within two business days following receipt of the primary landlord's consent to the Sublease, the Company will deliver to Sublessor a security deposit in the form of a letter of credit in the amount of $4,095,000.00. Provided there are no events of default by the Company under the Sublease, the letter of credit will be reduced on an incremental basis throughout the Term.

Pursuant to the Sublease, the Company has agreed to pay base rent of $455,000.00 per month during the first year of the Term, increasing on an incremental basis each subsequent year of the Term, as well as traditional lease expenses including, certain taxes, operating expenses and utilities.