AMENDMENT NO. 1 TO SUBLEASE
Exhibit
10.16(iv)
AMENDMENT
NO. 1 TO SUBLEASE
This
Amendment No. 1 to Sublease is entered into as of the 30th day
of
January, 2006, by and between Interactive Intelligence, Inc., an Indiana
corporation ("Sublandlord"), and ANGEL Learning, Inc., f/k/a Cyberlerning
Labs,
Inc., an Indiana corporation ("Subtenant").
W
I T N E S S E T H:
WHEREAS,
the
following facts are true:
A. Sublandlord
and Subtenant entered into a Sublease dated as of December 29, 2004 (the
"Sublease"), pursuant to which Subtenant sublet certain premises located
in 0000
Xxxxxxxxxxx Xxx, Xxxxxxxxxxxx, Xxxxxxx;
B. The
Sublease provided Subtenant an option to expand the "Premises;"
C. Subtenant
desires to exercise its option to expand as provided in the Sublease, but
as
modified by this document;
D. Sublandlord
has agreed to the modification contained herein.
NOW,
THEREFORE,
in
consideration of the premises, the mutual covenants contained herein, and
other
good and valuable consideration, the receipt and sufficiency of which are
hereby
acknowledged, the parties agree as follows:
1. Capitalized
terms used herein but not defined shall have the meaning set forth in the
Sublease.
2. Commencing
on March 1, 2006, the Premises shall consist of approximately 11,980 rentable
square feet, located on the first floor of the Leased Premises. The Premises
is
depicted on the attached Exhibit A.
Exhibit A
replaces
Exhibit B
to the
Sublease.
3. Commencing
on March 1, 2006, and ending on February 28, 2007, Minimum Annual Rent shall
be
$192,878.04, payable in Monthly Rental Installments of $16,073.17. Beginning
on
March 1, 2007 through the expiration of the Original Term, Minimum Annual
Rent
shall be $198,867.96, payable in Monthly Rental Installments of
$16,572.33.
4. Sublandlord
shall provide an allowance for Tenant Finish Improvements in an amount not
to
exceed Thirty-Nine Thousand Three Hundred Seventy-Five Dollars ($39,375.00)
for
the Expansion Space. The terms of Section 6 of the Sublease shall govern
such
allowance. Subtenant confirms that the Tenant Finish Allowance originally
set
forth in Section 6 has been paid in full.
5. Section
10 of the Sublease is deleted in its entirety.
6. Section
11 of the Sublease is deleted in its entirety.
7. The
amount of the Security Deposit will be increased to $16,073.17.
8. In
all
other respects, the Sublease shall remain unchanged.
IN
WITNESS WHEREOF, the parties hereto have executed this Amendment No. 1 to
Sublease as of the date and year first above written.
"Sublandlord"
INTERACTIVE
INTELLIGENCE, INC.
By:
/s/
Xxxxxxx X. Head
Printed: Xxxxxxx
X. Head
Title:
Chief
Financial Officer
"Subtenant"
ANGEL
LEARNING, INC.
By:
/s/
Xxxxxxxxxxx X. Xxxxx
Printed: Xxxxxxxxxxx
X. Xxxxx
Title:
President
and CEO
STATE
OF
INDIANA )
)SS:
COUNTY
OF
MARION )
Before
me, a Notary Public in and for said County and State, personally appeared
Xxxxxxx X. Head, the Chief Financial Officer of Interactive Intelligence,
Inc.,
an
Indiana corporation, who acknowledged the execution of the foregoing "Amendment
No. 1 to Sublease" on behalf of said corporation.
Witness
my hand and Notarial Seal this 30th
day of
January, 2006.
/s/
Xxxxx X. Shaw_____________
Notary
Public
Xxxxx
X. Xxxx _______________
(Printed
Signature)
My
Commission Expires: 3/14/07___________
My
County
of Residence: Marion___________,
Indiana.
STATE
OF
INDIANA )
)SS:
COUNTY
OF
XXXXXX )
Before
me, a Notary Public in and for said County and State, personally appeared
Xxxxxxxxxxx X. Xxxxx, the President and CEO of CyberLearningLabs, Inc., an
Indiana corporation, who acknowledged the execution of the foregoing "Amendment
No. 1 to Sublease" on behalf of said corporation.
Witness
my hand and Notarial Seal this 30th
day of
January, 2006.
/s/
Xxxxx X. Shaw_____________
Notary
Public
Xxxxx
X. Xxxx _______________
(Printed
Signature)
My
Commission Expires: 3/14/07___________
My
County
of Residence: Marion___________,
Indiana.
CONSENT
AND ACCEPTANCE
DUKE
REALTY LIMITED PARTNERSHIP, an Indiana limited partnership, as Landlord under
the Master Lease, hereby consents to the Amendment No. 1 to Sublease of the
Master Lease; provided, however, that such Sublease does not affect or release
any liability of Sublandlord under the terms and obligations of the Master
Lease.
Landlord
hereby further consents to the construction of certain alterations and/or
improvements within the Subleased Premises in accordance with Exhibit
D
attached
hereto (the “Improvements”) and in accordance with the provisions of
Section
7.03
of the
Master Lease, subject to the following additional terms and conditions.
Notwithstanding anything contained in Section
7.03
or any
other provision of the Master Lease to the contrary, upon written request
by
Landlord, Sublandlord shall remove all said Improvements and restore the
Subleased Premises to its original condition upon the expiration or earlier
termination of the Sublease. If any subsequent alterations or improvements
are
constructed or installed in the Subleased Premises, Sublandlord or Subtenant
shall, upon written request from Landlord, upon the expiration or earlier
termination of the Sublease, remove all such subsequent alterations or
improvements and restore the Subleased Premises to the condition existing
prior
to the construction of such items. Nothing contained herein shall constitute
a
consent by Landlord to any alterations or improvements in the Subleased Premises
other than the Improvements, which may only be made in accordance with the
provisions of the Master Lease.
This
Consent and Acceptance of the foregoing Sublease shall not constitute a consent
by Landlord to any further subletting or assignments of the entire or any
portion of the Leased Premises.
"Landlord"
DUKE
REALTY LIMITED PARTNERSHIP, an Indiana limited partnership
By:
Duke
Realty Corporation, its general partner
By: /s/
Xxxxxxxx X. Xxxx
Xxxxxxxx
X. Xxxx
Senior
Vice President
Indiana
Office
