EXHIBIT (10)(M)
January, 1999
000 XXXXXXXX XXXXXX
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INTERNATIONAL ELECTRONICS, INC.
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AMENDMENT NO. 2
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Reference is made to the Lease dated March 28, 1995 (the "Lease" by and between
000 Xxxxxxxx Xxxxxx Realty Trust (hereinafter called the "Landlord", which
expression shall include its heirs, executors, successors and assigns where the
context so admits) of one part, and International Electronics, Inc., a
Massachusetts corporation (hereinafter called the "Tenant", which expression
shall include its successors and assigns or executors and administrators where
the context so admits) of the otherwise defined herein shall have the same
meaning herein as therein and Amendment No. 1 of said Lease.
For good and valuable consideration, the receipt and legal sufficiency which is
hereby acknowledged, Lessor and Lessee hereby agree to amend the Lease as
follows:
Section 1 (A), 3 (B), 5 (C), 4 (C), 10 (N), and 10 (O) are hereby amended to
read as follows:
1. (A) SUBJECTS REFERRED TO;
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LEASE TERM
OR TERM: From February 1, 1999 through April 30, 2001.
FIXED RENT: Fixed Rent shall be payable as follows: $6.00 per rentable square
foot, triple net, for the first fourteen (14) calendar months of
the Lease Amendment Term and $6.50 per rentable square foot,
triple net, for the remaining thirteen (13) calendar months of
the Lease Amendment Term. Fixed Rent shall be calculated on the
aggregate square footage of the Existing Premises of 20,740
square feet.
RENTABLE FLOOR AREA OF TENANT'S SPACE: 20,740 Square Feet.
OCCUPANCY: The Tenant shall occupy it's former space of 15,540 Square Feet
and in addition 5,200 Square feet of space formerly occupied by
Xxxx Foods.
2. (B) LANDLORD'S REQUIRED WORK
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Landlord's only work at the demised premises shall consist of the
installation of carpet in the office space areas only in the space formerly
occupied by Xxxx Foods; the painting of all walls in the office space area
only in the space formerly occupied by Xxxx Foods; the repairing of the
bathroom damage in the office space area only in the space formerly
occupied by Xxxx Foods; and the re-keying of the front and back doors of
the former Xxxx Foods space.
3. (D) TENANT'S REQUIRED WORK
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Install a doorway or doorways between the Tenant's current Bay and the
warehouse space formerly occupied by Xxxx Foods or other modifications with
Landlord's consent. The aforementioned work is at the sole cost of the
Tenant. Such space shall be restored to it's original condition, unless
Tenant provides for significant improvements.
4. (C) The Factor: The factor shall be 51.2%.
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10. (N) OPTION TO EXTEND
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Provided that Tenant is not then in default hereunder, Tenant shall have
the option to extend the term of this lease for an additional period of two
(2) years from the end of the Amendment 2 term (i.e. April 30, 2001), and
further, provided, however, that Tenant delivers written notice to Landlord
of tenant's exercise of its option to extend on or before September 30,
2000 (time being of the essence).
Such extended term shall be on the same terms, conditions, and covenants of
this lease, and amendments except that the Fixed Rent for the extended term
shall be at a rate of $7.00 per square foot.
10. (O) SUBLETTING AND ASSIGNMENT
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Tenant shall not sublet nor assign this lease, either voluntarily or by
operation of law, (other than with a Person who is a Subsidiary Company or
Affiliate of Tenant) without the prior written consent of Landlord, such
consent shall not be unreasonably withheld. Landlord may withhold approval
of any Subtenant if Tenant is in default under the Lease. Landlord hereby
ratifies the existing occupancy arrangements between Tenant and Subtenants
and any future extensions of the occupancy arrangements between Tenant and
Subtenant within the lease term.
If the Landlord consents to such sublease or assignment Tenant shall remain
liable for the payment and performance of the terms and covenants of this
Lease. Tenant agrees to disclose the terms of any sublease arrangement to
Landlord prior to signing said sublease.
IV. 4 (C) The Landlord shall be exclusively responsible to maintain all fire
protection systems for the demised premises in accordance with all
applicable Federal, State and local statutes, regulations and ordinances.
All other terms and conditions remain the same. Executed as a sealed instrument
this 28 day of January, 1999.
LANDLORD: 000 Xxxxxxxx Xxxxxx Realty Trust
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BY: /s/ Xxxxx Xxxx
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Xxxxx Xxxx, Agent
TENANT: International Electronics, Inc.
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BY: /s/ Xxxx Xxxxxxxxx
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Xxxx Xxxxxxxxx
By its President
