Item 1.01. Entry into a Material Definitive Agreement.
A sub-lease agreement (the "Sub-Lease") by and between Exagen Inc. (the
"Company") and Plum Healthcare Group, LLC ("Plum Healthcare") became effective
on August 23, 2021, pursuant to which the Company has agreed to lease additional
office space located at 2175 Salk Avenue, 3rd Floor, Carlsbad, California 92008.
The Sub-Lease will provide the Company with approximately 28,000 square feet of
additional office space. The Sub-Lease will commence on October 1, 2021 and
expire on April 30, 2027.
The Sub-Lease provides for monthly base rent of $66,021 beginning October 1,
2021, which amount shall increase by approximately 3% annually beginning on
October 1, 2022. The Company is entitled to base rent abatement for a specified
period beginning on November 1, 2021. The Company will deliver to Plum
Healthcare a security deposit in the amount of $153,073.
Subject to certain exceptions, the Sub-Lease incorporates the terms and
conditions of the lease (the "Master Lease") by and between Plum Healthcare and
Brookwood CB I, LLC and Brookwood CB II, LLC (collectively, as tenants in
common, "Brookwood CB") as though the Company were the tenant and Plum
Healthcare were the landlord under the Master Lease. The Master Lease contains
customary representations, warranties, covenants, indemnification provisions,
and default provisions for a Sub-Lease of this nature. Upon the occurrence of an
event of default, as defined in the Master Lease, Brookwood CB may terminate the
Master Lease and the Plum Healthcare may terminate the Sub-Lease. The Company
does not have a right to terminate the Sub-Lease or the Master Lease.
The foregoing description of the Sub-Lease does not purport to be complete and
is qualified in its entirety by reference to the full text of the Sub-Lease,
which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q
to be filed for the quarter ending September 30, 2021.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The disclosure set forth under Item 1.01 of this Current Report on Form 8-K is
incorporated into this Item 2.03 by reference.

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