Exhibit 10.18
THIRD AMENDMENT TO OFFICE LEASE
This Third Amendment to Office Lease is entered into between Matco
Enterprises, Inc., a Washington corporation, hereinafter referred to as
"Landlord", and qad. inc, a California corporation, hereinafter referred to
as "Tenant".
This Third Amendment To Office Lease is made in reference to the
following facts:
A. Landlord and Tenant entered into an Office Lease, dated November 30,
1992, for Suites I, K and L located at 0000 Xxxxxxxxxxx Xxxxxx, Xxxxxxxxxxx,
Xxxxxxxxxx, hereinafter "Office Lease".
B. Landlord and Tenant entered into a First Amendment To Office Lease
dated September 9, 1993, whereby Landlord leased Suites C and H to Tenant on
the terms and conditions of the First Amendment To Office Lease.
C. Landlord and Tenant entered into a Second Amendment To Office Lease
dated January 14, 1994, whereby Landlord leased Suite J to Tenant on the
terms and conditions of the Second Amendment To Office Lease.
D. Tenant desires to lease additional space at 0000 Xxxxxxxxxxx Xxxxxx,
Xxxxx X and C of the Basement, specifically, and Landlord has agreed to lease
Rooms B and C of the Basement on the terms and conditions of this Third
Amendment To Office Lease.
IT IS AGREED:
1. TEMPORARY LEASE OF ROOM C.
Landlord hereby leases to Tenant Room C in the Basement located at 0000
Xxxxxxxxxxx Xxxxxx, Xxxx xx Xxxxxxxxxxx, Xxxxxx of Santa Xxxxxxx, State of
California, identified on the floor plan attached hereto as Exhibit "A". The
term of this lease as to Room C shall be ninety (90) days commencing December
15, 1993. Tenant shall pay as rent the sum of $750.00 ($0.75/square foot x
1000 net rental square feet) upon execution of this amendment and in advance
on the 1st of each month during the term of this lease as
1.
to Room C. Minimum monthly rent for any partial month, including the first
month and last month of the lease as to Room C of the Basement shall be
prorated at the rate of 1/30th of the minimum monthly rent per day. Tenant
shall not be charged any share of property taxes or operating expenses under
Paragraphs 8, 9 and 10 of the Office Lease for the lease of Room C. Landlord
shall not be required to perform any tenant improvements for this space. In
the event any tenant improvements are required, they shall be done at
Tenant's expense.
2. ADDITIONAL LEASED PREMISES.
The Additional Leased Premises hereunder is Room B of the Basement
located at 0000 Xxxxxxxxxxx Xxxxxx, xx xxx Xxxx xx Xxxxxxxxxxx, Xxxxxx of
Santa Xxxxxxx, State of California, and identified on the floor plan attached
hereto as Exhibit "A". Said Additional Leased Premises contain 1214 net
rentable square feet in Room C of the Basement. The reference to the term
Premises in the Office Lease shall also apply to the Additional Leased
Premises as used in this First Amendment To Office Lease.
3. TERM OF LEASE.
The term of this Third Amendment To Office Lease as to Room B of the
Basement shall commence one day after notification that the improvements
required for the Additional Leased Premises have been substantially completed
and shall terminate with the termination of the Office Lease.
4. RENT.
(a) Tenant shall pay Landlord, as minimum monthly rent without
deduction, set off, prior notice or demand, the sum of $910.50 ($0.75/per
square foot x 1214 of net rentable square footage for Room B of the Basement)
in advance on the first day of each month commencing on date of commencement
of term of the Lease for the Additional Leased Premises, Room B of the
Basement, and continuing during the term of the original Office Lease and the
First and Second Amendments To Office Lease, which rent shall be in addition
to the rent provided for in the Office Lease and the
2.
First and Second Amendments To Office Lease. Minimum monthly rent for any
partial month, including the first month and last month of the lease as to
Room B of the Basement shall be prorated at the rate of 1/30th of the minimum
monthly rent per day.
(b) The rental for Room B shall not be subject to the annual CIP
increase for January 1, 1994; however, for each year thereafter the minimum
monthly rent shall be subject to adjustments as provided for in Paragraph 5(b)
of the Office Lease.
5. SECURITY DEPOSIT.
Simultaneously with the execution of the Third Amendment To Office
Lease, Tenant shall deposit with Landlord $2440.14 which includes the sum of
$910.50 representing the first month's rent, $910.50 representing the
additional security deposit for the Additional Leased Premises and the sum of
$619.14 representing the payment towards the first month's operating costs
and real property taxes.
6. PROPERTY TAXES AND OPERATING COSTS.
Tenant shall pay monthly to Landlord as additional rent its proportionate
share of property taxes, and operating costs which shall be computed in the
manner provided for the Paragraphs 8, 9 and 10 of the Office Lease taking
into account the additional net rentable square footage occupied by Tenant in
the Additional Leased Premises.
7. TENANT IMPROVEMENTS.
Tenant improvements for the Additional Leased Premises, Room B of the
Basement, shall be completed according to the terms and conditions:
(a) Within fifteen (15) days of execution of this Third Amendment To
Office Lease, Tenant shall provide Landlord with plans and specifications for
the tenant improvements for Room B of the Basement. Provided Tenant has
timely delivered to Landlord its plans and specifications for the tenant
improvements for Room B of the Basement, and the requirements for the tenant
improve-
3.
ments are limited to fresh paint, carpeting, dropped ceiling, supplemental
HVAC, and data communication capability around the parameter of the room,
Landlord shall have a maximum of sixty (60) days from the execution of this
Third Amendment To Office Lease to construct the tenant improvements in
accordance with the plans and specifications provided by Tenant. Landlord
shall deliver possession of the Additional Leased Premises to Tenant for
occupancy promptly and will use every reasonable effort to deliver possession
as soon as possible.
(b) Landlord shall initially pay the cost of the tenant improvements.
Tenant shall reimburse Landlord for the cost of the tenant improvements
amortized over the remaining term of the Office Lease in equal monthly
installments over and above the rent provided for in Paragraph 3 above.
8. ADDITIONAL TERMS.
Except where inconsistent with this Third Amendment To Office Lease, the
terms and conditions of the Office Lease shall apply equally to the
Additional Leased Premises as to Suites I, L, K, C, H and J.
IN WITNESS WHEREOF, the parties have executed this Third Amendment to
Office Lease on January 14, 1994.
LANDLORD: MATCO ENTERPRISES, INC., a
Washington Corporation
By: /s/Xxxxxx Xxxxxx
-------------------------------------
XXXXXX XXXXXX, formerly known as
Xxxxxx Xxxxxx Xxxx, President
TENANT: qad, inc.
By: /s/Xxxxxx M[ILLEGIBLE] Lopker
-------------------------------------
XXX XXXXXX, President
By: /s/Xxxx Xxxxxx
-------------------------------------
XXXX XXXXXX, Vice-President
(Signatures Continued)
4.
(Continued Signatures)
APPROVED AS TO FORM AND CONTENT:
THE XXXXXXX XXXXXXX COMPANY
By: /s/Xxxxxxx Xxxxxxx
------------------------------
XXXXXXX XXXXXXX
5.
EXHIBIT A
[FLOOR PLAN]
0000 Xxxxxxxxxxx Xxx.
- Basement -
Room C and B is Leased Premises.
