Exhibit 10.15(a)
August 6, 1999
Xxxxxxxx Industries, Inc.
c./o Alpha Technologies
0000 Xxxxx Xxxxxxx, Xxxxx 000
Xxxxxxx, Xxxxx 00000
Attn: Xxxxxx X. Xxxxxxxxx
Re: Letter Agreement - Lease Extension
00000 Xxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxxxx
Reference is hereby made to that certain Lease dated August 29, 1984 and Lease
Extensions dated February 1, 1991 and June 1996 by and between Garfield-Pacific
Development Co. ("Lessor") and Xxxxxxxx Industries, Inc. ("Lessee") for the
Premises commonly known as 00000 Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxx.
The parties do hereby agree that said Lease shall be extended for an additional
period of five (5) years commencing November 1, 1999 and ending October 31,
2004. All terms, provisions and conditions of the original Lease shall remain in
full force and effect during the extension period, except as provided as
follows:
1. For the period November 1, 1999 through October 31, 2000 the monthly rent
shall be $9,500.00.
2. For the period November 1, 2000 through April 30, 2002 the monthly rent
shall be $9,750.00.
3. For the period May 1, 2002 through October 31, 2003 the monthly rent shall be
determined as follows: The monthly rent payable for April 2002 ($9,750.00) shall
be multiplied by a fraction and the numerator of which shall be the Consumer
Price Index (C.P.I.) of the Bureau of Labor Statistics of the United States
Department of Labor for Urban wage Earners and Clerical Workers, Los Angeles-
Anaheim-Riverside, California (1967=100), "All Items", for the month of March,
2002 and the denominator of which shall be the C.P.I. for the month of
September, 1999. The sum so calculated shall establish the new monthly rent for
the period May 1, 2002 through October 31, 2003. However, in no event shall said
monthly rent be less than $10,237.50 or greater than $10,920.00.
Xxxxxxxx Industries, Inc.
August 6, 1999
Page Two
4. For the period November 1, 2003 through October 31, 2004 the monthly rent
shall be that monthly rent which has been calculated in Paragraph 3 above (for
the period May 1, 2002 through October 31, 2003) plus $250.00 per month.
Please have two authorized officers sign both originals of this letter
Agreement-Lease Extension indicating your approval of the extension and return
on original to our office at 0000 Xxxx Xxxxxx, Xxxxx 000, Xxxxxx, XX 00000.
We are delighted that you have decided to renew your Lease and look forward to a
continued relationship with Xxxxxxxx Industries in the coming years.
Sincerely,
GARFIELD-PACIFIC
DEVELOPMENT CO.
/s/ Xxxxxx X. Xxxxxxxx
-----------------------------
By: Xxxxxx X. Xxxxxxxx
Authorized Representative
RDB:sl
Cc. Xxxx Xxxxxxx
AGREED & ACCEPTED:
Dated: September 15, 1999
By: Xxxxxxxx Industries, Inc.
By: /s/Xxxxxx X. Xxxxxxxxx
----------------------
Name: Xxxxxx Xxxxxxxxx
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Title Secretary & Treasurer
----------------------
By: Xxxxxxxx Industries, Inc.
By: /s/Xxxx Xxxxxxx
---------------
Name: Xxxx Xxxxxxx
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Title: Vice President & General Manager
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