Exhibit 10.10
[Logo] INTERACTIVE
EXECUTIVE OFFICES CORP.
AGREEMENT TO LEASE
BETWEEN: Interactive Executive Offices Corp.
(hereinafter called the "Landlord")
AND: Eliance Corporation
(hereinafter called the "Client")
THE CLIENT agrees to lease from the Landlord and the Landlord agrees to lease to
the Client the north suite known as Suite No. 2501 at 0 Xxxxxx Xxxxxx Xxxx, X.X.
Xxx 00, Xxxxxxx, Xxxxxxx, X0X 0X0.
THE TERM of the lease is twelve months beginning on the 15th day of November,
1999 and ending on the 14th day of November, 2000, with an option to extend
agreement for an additional one year period.
THE CLIENT agrees to pay rent, in lawful money of Canada, during the term hereof
at the monthly rate of TWENTY ONE THOUSAND TWO HUNDRED DOLLARS and .00 CENTS
($21,200.00) plus Business Tax at the rate of 9% and GST at the rate of 7%
totaling TWENTY FOUR THOUSAND SEVEN HUNDRED TWENTY FIVE DOLLARS and .56 CENTS
($24,725.56).
THE CLIENT agrees to pay any additional construction expenses arising from
future requests to modify the suite, except the following:
o Glass Walls and Doors as per Schedule "A"
o Carpet
o Telephone Wiring
o ISDN Wiring
o Paint
o Construction of 1 Office
THIS MONTHLY RENTAL is due and payable in advance on the FIRST day of each month
during the term. At the request of the Landlord, the Client shall forthwith
provide the Landlord with post-dated cheques for each month during the remainder
of the Term. The Client agrees that should the Client default in payment of
rental or any other amount payable hereunder, or the performance of any other
terms or conditions of the Agreement, the Landlord shall give written notice of
default and allow the Client ten (10) days to rectify the default. If the
default has not been rectified within the said ten (10) days, then the Landlord
may, without further notice, immediately re-enter and possess the said office.
Late payment charges may be charged by the Landlord to the Client in the event
that rental or other amounts due and owing pursuant to this Agreement are not
paid., The late payment charges shall be a pre-estimate of the Landlord's
expenses arising out of such late payment and shall be an amount equal to 2.0%
per month (24% per annum) of THAT MONTH'S RENT, a fifty dollar ($50.00) late
payment charge, and any charges incurred by the Landlord, such charges, however,
not to include any expenses of reletting.
THE CLIENT AGREES to pay a one-time fee in the amount of FIFTY DOLLARS ($50.00)
to be set up in the building directory.
[Logo] INTERACTIVE
EXECUTIVE OFFICES CORP
THE CLIENT agrees to utilize the services of the Landlord for all business
activities the Landlord has the capacity and expertise to offer, eg.
Administrative support, secretarial support, printing, binding, desktop
publishing, photocopying, faxing, courier, and expertise.
This service use is as a first priority to the Landlord. If cost or service
quality is not competitive, the Client has the right to utilize alternate
service providers.
THE CLIENT agrees there will be no structural changes to the leased premises
without the written approval of the Landlord and any changes shall be done by
the Landlord at the Client's cost.
THE CLIENT ACKNOWLEDGES that the Landlord is in the business of subdividing
office premises into private offices and renting such offices together with
facilities and services such as furniture, secretarial services, consolidated
billing, office management, etc. The Client further acknowledges that in the
event of the Client's default, the Landlord may suffer damages equal to the
total amount of rental monies peryable under this Agreement. However, to the
extent the Landlord has been able to re-let the premises, which Landlord shall
use its reasonable efforts to accomplish, actual damages to the Landlord shall
be reduced thereby.
IT IS UNDERSTOOD that the Lease will include the facilities and services as set
out in Part 1 of Schedule "A" are subject to change upon 15 days notice.
Payment for such additional services is due and payable within five (5) days of
the date of invoice for the same. Failure to make payments for such additional
services shall entitle the Landlord to discontinue such services immediately and
without notice to the Client.
It is understood that Client has the right, with Landlord's approval which shall
not be unreasonably withheld , to sublet the premises if client determines to
leave the premises prior to the end of the lease period.
THE CLIENT agrees to permit the Landlord or his representative to arrange with
Shared Technologies of Canada for Client's own telephone service. The Client
further agrees to pery all telephone charges arising from Client's occupation of
the Premises.
THE CLIENT agrees to repair at Client's own expense, damage to walls, ceilings,
fixtures, doors, rugs, furniture and any contents of the Client's office
provided by the Landlord, caused by the Client reasonable wear and tear
excepted.The Client agrees not to decorate or alter the leased premises without
the prior written notice of the Landlord which prohibition shall include the
drilling or nailing of holes in the walls, doors or framework, or affixing
articles with tape to any surfaces provided by the Landlord.
[Logo] INTERACTIVE
EXECUTIVE OFFICES CORP
THE CLIENT will indemnify and save harmless the Landlord from all expenses,
cost, liabilities and from any claims made by any person or persons against the
Landlord for damages incurred by injury, or damage to any person or his property
while on the premises provided said damages were not caused by the negligence of
Landlord.
THE LANDLORD shall be liable for the theft or damage of any property in the
leased premises.
THE CLIENT agrees to pay the Landlord 100% of the annual salary of any
Interactive Executive Office employee hired either directly or indirectly by the
Client, its employers, assigns or heirs, but only if such employee is currently
working for the Landlord, or has terminated his/her position with the Landlord
within six months of the date of the employment by the Client.
OVER HOLDING if the Tenant remains in possession of the Premises after the end
of the Term with the consent of the Landlord there shall be no tacit renewal of
the Lease and monthly tenancy shall be created which may be terminated by either
party on one month's prior written notice. Rent shall be payable in advance on
the first day of the month.
DATED at Toronto, Ontario this 1st day of November, 1999.
INTERACTIVE EXECUTIVE OFFICES CORP. ELIANCE CORPORATION
Per Per
/s/ Xxxxxxxx Xxxxxx /s/ Xxxxx Xxxxx
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Landlord Client
Name: Xxxxxxxx Xxxxxx Name:
Title : Centre Manager Title:
Address:
