EXHIBIT 10.4
LEASE AMENDMENT NO. 3
This Agreement, made this 5 day of August, 1999, by and between BLN Office
Park Associates ("Landlord") and Adaytum Software Limited ("Tenant").
Whereas, the Landlord and the Tenant entered into a written
agreement of Lease dated September 16, 1998 (herein collectively called the
"Lease"), whereby the Landlord leased to the Tenant approximately 10,300
square feet of office space located on the fourth level of Phase II of the
BLN Office Park, to be used and occupied as the Tenant's office for the
transaction of its business; and
Whereas, the Landlord and the Tenant entered into Lease Amendment
No. 1 dated October 19, 1998 whereby the Lease was extended; and
Whereas, the Landlord and the Tenant entered into Lease Amendment
No. 2 dated January 7, 1999, whereby the Lease was extended; and
Now therefore, in consideration of the foregoing premises; the
parties hereto hereby agree to supplement and amend this Lease effective as
of the 1st day of November 1999 in the following particulars:
1. In reference to the Lease and pertaining to Section 2 LEASED
PREMISES, after the words "those certain premises comprising
approximately" in the printed portion of the Lease change the
rentable area from "10,300" to "33,809".
2. In reference to Article 1 of Lease Amendment Xx. 0, xx Xxxxxxx
0, XXXX, after the words "to and including the", in the
printed portion of the Lease change the date from "31st day of
January, 2005" to the "31st day of July, 2006".
3. In reference to Article 2 of Lease Amendment No. 2 and
pertaining to BASE RENT payable in Section 4 of the printed
portion of the Lease shall be as follows:
PERIOD ANNUAL BASE RENT MONTHLY BASE RENT
------ ---------------- -----------------
February 1, 1999 through and including
October 31, 1999 $233,810.04 $19,484.17
November 1, 1999 through and including
December 31, 1999 $417,634.60 $34,802.88
January 1, 2000 through and including
March 31, 2000 $601,436.50 $50,119.71
April 1, 2000 through and including
June 30, 2000 $684,450.40 $57,037.53
July 1, 2000 through and including
July 31, 2006 $767,464.30 $63,955.36
The Base Rent is also subject to increase due to increases in operating costs
and taxes as described in paragraphs 5 and 6 of the Lease.
4. In reference to Section 5 of the Lease and pertaining to
CONTRIBUTION TO OPERATING COSTS of the Lease, after the words,
"which fraction is" in paragraph (b) (ii) of the printed
portion on the Lease, change the factor "3.063%" to the
following schedule:
PERIOD PERCENTAGE
------ ----------
February 1, 1999 through and including
October 31, 1999 3.063%
November 1, 1999 through and including
December 31, 1999 5.471%
1
January 1, 2000 through and including
March 31, 2000 7.879%
April 1, 2000 through and including
June 30, 2000 8.966%
July 1, 2000 through and including
July 31, 2006 10.054%
Effective November 1, 1997, the Tenant's proportionate share
of the building is calculated upon 336,292 square feet, which
is the total square footage of both buildings of the BLN
Office Park.
5. Exhibit A of the Lease shall be substituted with Exhibit A-1
effective November 1, 1999.
6. In reference to Article 3 of Lease Amendment No. 2, and
pertaining to ARTICLE 2 and ARTICLE 3 of EXHIBIT F, of the
Lease shall be deleted in their entirety and replaced with the
following:
ARTICLE 2
RENEWAL OPTION: The Tenant shall have the right to renew the Lease for
an additional term of five (5) years ("Renewal Option") commencing
August 1, 2006 and terminating July 31, 2011. Said Renewal Option shall
be conditioned upon the following terms and conditions:
a. On or before August 1, 2005, Tenant must provide written
notice to Landlord of its intention to exercise its renewal
option.
b. The Base Rent charged during the Renewal Option shall be the
then "current market rate" charged for space in the BLN Office
Park. The Landlord shall provide the "current market rate" by
March 1, 2005.
c. In order to exercise the Renewal Option, the Tenant must give
written notice to Landlord on or before March 1, 2005 of its
acceptance of the "current market rate" submitted by Landlord.
d. During the extended term, the same terms, covenants,
conditions, provisions and agreements shall apply as are
provided for in this Lease and subject to Section 5 of the
printed portion of the Lease.
e. The Renewal Option rights of the Tenant are conditioned upon
the Lease being in full force and effect without default
thereunder on the date the Tenant exercised its Renewal Option
up to and including July 31, 2006.
f. Both Landlord and Tenant agree to amend this Lease to
incorporate the correct rent charges and any other changes
made necessary by this provision.
ARTICLE 3
RIGHT OF FIRST OFFER 1.: This Article 3 has been exercised and is null
and void in its entirety.
7. LEASEHOLD IMPROVEMENTS. In conjunction with the Tenant taking
the remaining fourth floor space outlined on Exhibit A-1, the Landlord
agrees to provide those Leasehold Improvements outlined in Tenant's
plans. However, it is understood by both parties that Landlord's
contribution will not exceed $364.390.00 for the following costs
related to Leasehold Improvements:
1) Tenant's Plans
2) Leasehold Improvements to the Leased Premises as outlined in
Tenant's Plans.
2
Any costs incurred in excess of $364,390.00 will be the responsibility of
Tenant and will be paid by Tenant to Landlord within thirty (30) days of
completion of the Leased Premises, and invoicing.
Area 1, further outlined in yellow on Exhibit A-1, shall be completed
in accordance with a floor plan to be developed and ready for occupancy
October 15, 1999.
Xxxx 0, further outlined in blue on Exhibit A-1 shall be completed in
accordance with a floor plan to be developed and ready for occupancy
January 1, 2000.
In witness whereof, this instrument has been duly executed by the
parties hereto as of the day, month and year written above.
LANDLORD: TENANT:
BLN Office Park Associates II Adaytum KPS Software Limited
By: /S/ Xxxx X. Xxxxxx By: /S/ Xxxxxxx X. Xxxx
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Its: Managing Agent Its: VP of Finance & Administration
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