LADOKK REALTY COMPANY
00 Xxxxx Xxxxx
Xxxxxxxxx, Xxx Xxxx 00000
February 1, 1996
Hauppauge Computer Works, Inc.
00 Xxxxx Xxxxx
Xxxxxxxxx, Xxx Xxxx 00000
Re: Modification to Lease Dated February 7, 1990 ("Lease") by and between
Ladokk Realty Company ("Landlord") and Hauppauge Computer Works, Inc.
("Tenant")
Gentlemen:
This letter will confirm that as of the date hereof, the terms of the Lease
are hereby modified as follows:
1. The Lease has been renegotiated to a term of ten years
beginning February 1, 1996 and ending January 31, 2006.
2. Tenant is given an option to extend the Lease for an
additional three years (the "Option Period"); provided Tenant is not in default
of the Lease at the time it exercises this option; and provided written notice
of the exercise of such option is given by Tenant to Landlord no later than July
31, 2005.
3. During the Option Period the annual rental shall increase at
the rate of 5% per annum over the rent of the previous year, including that for
the first year of the Option Period for which such increase shall be 5% over the
year ended January 31, 2006. All other terms of the Lease shall be applicable to
the Option Period.
Except as modified herein, all terms and conditions of the Lease shall
continue in full force and effect.
Very truly yours,
LADOKK REALTY COMPANY
By: /s/ Xxxxxxx Xxxxxxxx
--------------------------
XXXXXXX XXXXXXXX
CONSENTED TO:
Hauppauge Computer Works, Inc.
By:/s/ Xxxxxx Xxxxxxxxxx
-------------------------
