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Exhibit 10.1
SUPPLEMENTAL LEASE DATED AUGUST 10, 1998
This Supplemental Lease is made this 10th Day of August, by and between Malibu
Vista Partners, a California general partnership, herein called "Lessor," and
JAKKS Pacific, Inc., herein called "Lessee."
RECITALS
A. By Lease dated June 18, 1997, Lessor leased to Lessee Suite 226 located
on the second floor in Lessor's office building located at 00000 Xxxxxxx
Xxxxx Xxxxxxx, Xxxxxx, Xxxxxxxxxx.
B. Lessee now desires to add Xxxxx 000, consisting of 2,141 rentable square
feet to its existing premises.
AGREEMENT
NOW, THEREFORE, the parties agree as follows:
1. The Supplemental Lease term shall end on August 31, 2002, the same
expiration date of the original Lease.
2. Lessor shall deliver possession of Suite 280 to Lessee upon the
execution of this Supplemental Lease.
3. The base rent for Suite 280 shall be $4,817.25 and shall commence on
October 1, 1998, provided tenant improvements referred to in Section 6
are completed by such date. The commencement shall be delayed one day
for each day after October 1, 1998 such improvements are not completed.
4. Upon the execution of this Supplemental Lease, Lessee shall pay Lessor
the sum of $9,634.50, constituting rent for October 1998, in the amount
of $4,817.25 and a security deposit in the amount of $4,817.25, which
will be held by Lessor pursuant to the terms of Paragraph 5 of the
original Lease.
5. In addition to rent, Lessee shall pay to Lessor its proportionate share
of building expenses, which shall be calculated on 2,141 rentable square
feet.
6. Lessor shall, at Lessor's sole expense, provide the tenant improvements
shown on the attached tenant improvement space plan ("Plan"). Both
Lessor and Lessee shall initial the Plan to indicate their approval.
7. The first annual base year rent increase for Suite 280, as provided in
section 1.7 of the Lease, shall become effective September 1, 1999, and
shall continue thereafter on each September 1.
8. Lessor is currently obtaining entitlements to build an approximately
10,400 rentable square foot, three story office building on the
adjoining lot located at 00000 Xxxxxxx Xxxxx Xxxxxxx. Lessee is hereby
granted an option to lease any one or more of the entire floors of 22751
Pacific coast Highway under the following terms and conditions:
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(a) At any time after the commencement of construction, Lessor shall
notify Lessee in writing of the approximate anticipated
completion date and the rent for each of the floors, which shall
not exceed $3.00 per rentable square foot. If Lessee, within 60
days after receipt of Lessor's notice, indicates in writing its
agreement to lease one or more floors (the "New Space") for a
term of 5 years or more, the parties shall enter into a lease in
the form of the existing original Lease for the space, which
shall include the same annual rent adjustment provision as is
contained in the original Lease.
(b) The Lease for the New Space shall require a security deposit
equal to one month's rent.
(c) Lessee shall receive a $40 per rentable square foot tenant
improvement allowance.
(d) Rent shall commence upon the delivery of possession of the New
Space after substantial completion of the tenant improvements.
(e) Lessee shall have the option by 30 days' written notice to
Lessor to terminate its original Lease and/or this Supplemental
Lease effective at any time after accepting possession of the
New Space, provided, that the square footage of the New Space is
equal to or greater than the square footage of the terminated
space.
Except as modified herein, all other terms and conditions of the Lease
dated June 18, 1997, are incorporated herein and shall become a part of this
Supplemental Lease as though fully set forth herein.
LANDLORD
LANDLORD: TENANT:
Malibu Vista Partners JAKKS Pacific, Inc.
By: /s/ Xxx Xxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Xxx Xxxxx, Partner Xxxxxxx Xxxxxx, President
Date: August 18, 1998 Date: August 18, 1998
