Exhibit 10.6.4(a)
EXTENSION OF TERM
This extension of term agreement (the "Extension") is made as of the 26th day of
May, 2006 between:
HOCROFT ASSOCIATES, a New Jersey partnership, ("Landlord"), having an office at
000 X.X. Xxxxxxx 00, X.X. Xxx 0000, Xxxxxxxxxxx, XX 00000
and
SKYE MULTIMEDIA LTD., a New Jersey Corporation, ("Tenant"), having an office
at 0000 Xxxxx 00, Xxxxxxxxxxx, XX 00000.
PRELIMINARY STATEMENTS:
Landlord and Skye Multimedia, Inc. ("SMI"), a New Jersey corporation, were
parties to a Lease and Lease Agreement (the "Lease") dated as of May 5, 2005 for
leased premises consisting of 2,320 gross rentable square feet on the third
floor of 0000 Xxxxx 00, Xxxxxxxxxxx, Xxx Xxxxxx (the "Building");
Tenant is the successor of SMI;
The Lease expires on August 31, 2006 and, in consideration of these preliminary
statements and for other good and valuable consideration, the parties have
agreed to extend the Term on the terms set forth in this Extension.
AGREEMENTS:
1. Words not defined in this Extension shall have the meanings ascribed to
them in the Lease. The Lease shall otherwise remain in full force and
effect except as amended by the terms of this Extension.
2. The Term is hereby extended to and including August 31, 2007 (the
"Extended Term").
3. During the Extended Term, beginning on September 1, 2006, Tenant agrees to
pay Landlord Basic Rent at the rate of $44,080.80 per year payable in
equal monthly installments of $3,673.34 plus Tenant Electric Charges and
all Additional Rent.
4. The Option to Renew in Section 6 of the Lease is hereby deleted.
5. Section 20 is hereby amended to read as follows:
"At any time during the Term, on at least 30 days' prior notice to the
Tenant, the Landlord shall have the right to move the Tenant out of the
Leased Premises and into premises having comparable size and layout to the
Leased Premises located in the Building or in any other comparable
building located in the immediate area for the duration of the Term.
Comparable size shall mean premises which have floor space which is larger
than the Leased Premises or not more than 100 square
feet smaller than the Leased Premises. In the event the Landlord exercises
this right of relocation, the Landlord shall decorate the new premises
similarly to the Leased Premises and remove, relocate and reinstall the
Tenant's furniture, trade fixtures, furnishings and equipment, all at the
sole cost and expense of the Landlord. The costs shall include the cost of
the voice and data line relocations and the replacement of the supply of
stationery and business cards which are on hand on the date the notice of
relocation was served and such other reasonable out of pocket expenses
that Tenant can document that were incurred as a result of the relocation.
When the substitute new premises are ready, the Tenant shall surrender the
Leased Premises. Following any such relocation, this Agreement shall
continue in full force and effect except for the description of the Leased
Premises, the Building and the Property which, upon completion of such
relocation, shall be deemed amended to describe the substitute new
premises, building and property, respectively, to which the Tenant shall
have been relocated in accordance with this section 20 of the Agreement."
6. The parties mutually represent to each other that no broker negotiated or
consummated the within transaction, and neither party dealt with any
brokers in connection with the within Extension. Tenant agrees to
indemnify Landlord in the event of any liability which may be imposed on
Landlord as a result of a claim by any broker as a result of acts of the
Tenant or any of its representatives.
7. The terms, covenants and conditions of this Extension shall be binding
upon and shall inure to the benefit of the parties and their respective
successors and assigns.
8. This Extension may be executed in several counterparts each of which shall
constitute an original for all purposes.
9. This Agreement contains the entire agreement of the parties hereto,
subsumes all prior discussions and negotiations and, except as may
otherwise be specifically set forth in this Agreement, this Agreement may
not be amended or otherwise modified except by a writing signed by all the
parties to this Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Extension to be signed
by their proper officers as of the date set forth above.
LANDLORD:
HOCROFT ASSOCIATES
By: /s/ Xxxxxx Xxxxxxxxx
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Xxxxxx Xxxxxxxxx, Vice President
S/K Hocroft Corp.
(The signatures continue on the following page.)
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TENANT:
SKYE MULTIMEDIA LTD.
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, Chairman & CEO
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