FOURTH AMENDMENT TO LEASE
Exhibit 10.16(d)
FOURTH AMENDMENT TO LEASE
THIS AMENDMENT, dated this 10th day of November, 2007, between CLP INDUSTRIAL
PROPERTIES, LLC, a Delaware Limited Liability Company (“Lessor”) and SKECHERS USA, INC., a Delaware
corporation (“Lessee”), for the premises located in the City of Ontario, County of San Bernardino,
State of California, commonly known as 0000 X. Xxxxxxx Xxxxxx (the “Premises”).
WITNESSETH:
WHEREAS, Lessor and Lessee, entered into that certain Lease dated November 21, 1997, the First
Amendment to Lease dated April 26, 2002, the Second Amendment to Lease dated May 14, 2002, and the
Third Amendment to Lease dated May 7, 2007, (hereinafter collectively referred to as the “Lease”);
and
WHEREAS, Lessor and Lessee desire to amend the Lease as more fully set forth below.
NOW THEREFORE, in consideration of the mutual covenants and conditions contained herein and
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties agree as follows:
1. Definitions. Unless otherwise specifically set forth herein, all capitalized terms
herein shall have the same meaning as set forth in the Lease.
2. Renewal Option. Lessee shall, provided the Lease is in full force and effect and
Lessee is not in default under any of the other terms and conditions of the Lease at the time of
notification or commencement, have one (1) option to renew this Lease for a term of six (6) months,
for the portion of the Premises being leased by Lessee as of the date the renewal term is to
commence, on the same terms and conditions set forth in the Lease, except as modified by the terms,
covenants and conditions as set forth below:
| a. | If Lessee elects to exercise said option, then Lessee shall provide Lessor with written notice no earlier than the date which is nine (9) months prior to the expiration of the then current term of the Lease but no later than the date which is six (6) months prior to the expiration of the then current term of this Lease. If Lessee fails to provide such notice, Lessee shall have no further or additional right to extend or renew the term of the Lease. |
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| b. | The Annual Rent and Monthly Installment shall increase effective June 1, 2009 as follows: |
| Period | Rentable Square | Annual Rent | Annual Rent | Monthly Installment | ||||||||||||||
| from | through | Footage | Per Square Foot | Base Rent | of Base Rent | |||||||||||||
6/1/2009
|
11/30/2009 | 284,559 | $ | 5.40 | $ | 1,536,618.60 | $ | 128,051.55 | ||||||||||
| c. | This option is not transferable; the parties hereto acknowledge and agree that they intend that the aforesaid option to renew this Lease shall be “personal” to Lessee as set forth above and that in no event will any assignee or sublessee have any rights to exercise the aforesaid option to renew. |
| d. | As each renewal option provided for above is exercised, the number of renewal options remaining to be exercised is reduced by one and upon exercise of the last remaining renewal option Lessee shall have no further right to extend the term of the Lease. |
3. Broker Indemnification. Lessee represents and warrants to Lessor that no real
estate broker, agent, commissioned salesperson or other person has represented Lessee in the
negotiations of this Amendment, other than CB Xxxxxxx Xxxxx and RREEF Management Company. In the
event Lessee exercises it Option to Renew as set forth herein, Lessor agrees to pay all commissions
due the foregoing broker. Lessee agrees to indemnify and hold Lessor harmless from and against any
claim for any such commissions, fees or other form of compensation by any such third party claiming
through the Lessee, including, without limitation, any and all claims, causes of action, damages,
costs and expenses, including attorneys’ fees associated therewith.
4. Incorporation. Except as modified herein, all other terms and conditions of the
Lease between the parties above described, as attached hereto, shall continue in full force and
effect.
5. Limitation of Lessor’s Liability. Redress for any claim against Lessor under this
Amendment and the Lease shall be limited to and enforceable only against and to the extent of
Lessor’s interest in the Building. The obligations of Lessor under this Amendment and the Lease are
not intended to be and shall not be personally binding on, nor shall any resort be had to the
private properties of, any of its or its investment manager’s trustees, directors, officers,
partners, beneficiaries, members, stockholders, employees, or agents, and in no case shall Lessor
be liable to Lessee hereunder for any lost profits, damage to business, or any form of special,
indirect or consequential damages.
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IN WITNESS WHEREOF, Lessor and Lessee have executed the Amendment as of the day and year first
written above.
LESSOR:
CLP INDUSTRIAL PROPERTIES, LLC,
a Delaware limited liability company
a Delaware limited liability company
BY: RREEF Management company, a
Delaware corporation, Authorized Agent
Delaware corporation, Authorized Agent
By:
|
/s/ Xxxxxx X. Xxxxxxx | |
Name:
|
Xxxxxx X. Xxxxxxx | |
Title:
|
Vice President/District Manager | |
Dated:
|
2/5/08 | |
LESSEE:
SKECHERS USA, INC., a Delaware
corporation
corporation
By: |
/s/ Xxxxx Xxxxxxxx | |
Name: |
Xxxxx Xxxxxxxx | |
Title: |
Chief Operating Officer | |
Dated: |
2-1-08 | |
By:
|
/s/ Xxxx Xxxxxxxxx | |
Name:
|
Xxxx Xxxxxxxxx | |
Title:
|
Chief Financial Officer | |
Dated:
|
2-1-08 | |
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