FIFTH AMENDMENT TO LEASE
EXHIBIT 10.20
FIFTH
AMENDMENT TO LEASE
THIS FIFTH AMENDMENT TO LEASE (this
“Fifth Amendment”) is dated as of October 1, 2008 and is made between CYPRESS
SEMICONDUCTOR CORPORATION, as Landlord, and SUNPOWER CORPORATION, as Tenant, to
be a part of that certain Office Lease Agreement and all exhibits thereto, dated
for reference purposes only as of May 15, 2006 (the
“Original Lease”), concerning approximately 43,732 rentable square feet (“RSF”),
located within the Premises stated in the Original Lease. The
Premises are located within the Building commonly known as Building #3, (the
“Building”), located at 0000 X. Xxxxx Xxxxxx (the “Land”) as shown on the floor
plan on Exhibit
A to the Original Lease.
Landlord and Tenant now desire to
modify the Original Lease and, in consideration of the mutual
promises contained herein and for the other good and valuable consideration, the
receipt and sufficiency of which the parties hereby acknowledge, Landlord and
Tenant hereby agree, intending to be bound thereby, that the Original Lease is
modified and supplemented in accordance with the terms and conditions set forth
below:
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1.
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Basic
Terms Item #9 of the Original Lease is hereby amended to state in its
entirety as follows:
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Lease
Months
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Monthly
Base
Rent/SF
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Rentable
Square
Feet
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Monthly
Base
|
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1-2
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$0.00/SF
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43,732
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$ -
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3-8
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$2.16/SF
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43,732
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$ 94,461
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9-12
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$2.16/SF
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45,840
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$ 99,014
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13-14
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$2.25/SF
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45,840
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$ 103,140
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15-24
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$2.25/SF
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51,228
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$ 115,263
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25-29
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$2.34/SF
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55,594
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$ 130,190
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30-36
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$2.34/SF
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60,320
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$ 141,149
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37-48
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$2.43/SF
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60,320
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$ 146,578
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49-60
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$2.53/SF
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60,320
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$ 152,610
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2.
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The
monthly Base Rent remains unchanged through the 8th
month (or December 31, 2006) as per Original Lease. However,
Article 2, Section 2.1, is hereby amended such that the monthly Base Rent
shall be adjusted to include the additional space added pursuant to
Section 1 of this Fifth Amendment. Effective
during the 9th
month of the term (or January 1, 2007), the monthly Base
Rent shall be adjusted to include the addition 2,108 RSF,
effective during the 15th
month of the term (or July 1, 2007), the monthly Base Rent shall be
adjusted to include the additional 5,388 RSF, effective during the 25th
month of the term (or May 1, 2008), the monthly Base Rent
shall be adjusted to include the additional 4,366 RSF and, effective
during the 30th
month of the term (or October 1, 2008), the monthly base rent shall be
adjusted to include the additional 4,726 RSF in each case as
shown in the Base Rent Table in Basic Terms Item #9 as amended by this
Fifth Amendment.
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3.
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Article
3, Section 3.3 shall be amended to state the adjustment of Tenant’s
Prorata Share of Excess Operating Expenses as
follows:
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“Tenant’s Prorata Share of Excess
Operating Expenses” (based on the rentable square footage of the Premises
divided by 61,975 the total
rentable square footage of the Building), shall mean 97% of the Excess
Operating Expenses for the applicable calendar year. Landlord agrees
to credit Tenant Prorata Share of Excess Operating Expenses for the Electric and
N. Gas line items outlined Exhibit C. This credit is an estimate and
may be adjusted from time to time based on varying electric
loads.
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4.
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Exhibit
“A”, the Floor Plan of the Original Lease shall be amended as shown in
Exhibit A-1 of this Fifth
Amendment.
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5.
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In
the event of any inconsistency between this Fifth Amendment and
the Original Lease, the terms in this Fifth Amendment
shall prevail. Except as modified herein, the Original Lease
remains in full force and effect.
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6.
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The
Original Lease, as amended by this Fifth Amendment, constitutes the entire
agreement between the parties and supersedes any previous agreements
between the parties with respect to the subject matter of this Fifth
Amendment. If any provision of this Fifth Amendment is held to
be illegal, invalid or unenforceable, in whole or
in part, such provision will be modified to the minimum extent necessary
to make it legal, valid and enforceable, and the legality,
validity and enforceability of the remaining provisions will not be
affected thereby.
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IN
WITNESS WHEREOF, the parties hereto have executed this Fifth Amendment
as of the date first set forth above.
| CYPRESS SEMICONDUCTOR CORP" | |||
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By:
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/s/ Xxxx X. Xxxxx | |
| Name: | Xxxx X. Xxxxx | ||
| Title: | Sr. Vice President, Treasurer | ||
| Date: |
10/24/08
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||
| SUNPOWER CORPORATION | |||
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By:
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/s/ Xxxxxxx X. Xxxxxxxx | |
| Name: | Xxxxxxx X. Xxxxxxxx | ||
| Title: | VP | ||
| Date: | 10/18/08 | ||
