SUBLEASE AGREEMENT AMENDMENT (FORT LAUDERDALE)
Exhibit 10.25
SUBLEASE AGREEMENT AMENDMENT
(FORT LAUDERDALE)
THIS SUBLEASE AGREEMENT AMENDMENT (“Amendment”) is made effective as of the 31st
day of January 2006 by and between ECI TELECOM INC., a Delaware corporation (“Sublandlord”) and
VERAZ NETWORKS, INC. (“Subtenant”) and amends that certain Sublease Agreement by and between
Sublandlord and Subtenant entered in as of the 31st day of August 2004 (“Sublease”).
RECITALS
A. Pursuant to the Sublease, Subtenant leased from Sublandlord certain space located 0000 Xxxx
Xxxxxxx Xxxxx Xxxx, Xxxx Xxxxxxxxxx, Xxxxxxx 00000 (“Building”).
B. Subtenant and Sublandlord now wish to amend the Sublease to allow Subtenant to lease from
Sublandlord an additional 652 square feet of space located in the Building as more fully described
hereinafter (hereinafter referred to as the “Additional Space”).
C. Nothing herein contained shall be deemed to reduce and/or diminish the Sublessee’s obligations
or duties as to the Subleased Premises as originally set forth in the Sublease as this Amendment
merely adds space to the Sublease.
NOW, THEREFORE, for and in consideration of the mutual covenants set forth herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Sublandlord and Subtenant hereby agree as follows:
1. Section 1 of the Sublease shall be amended to read as follows:
Subleased Premises. Subject to the terms and conditions set forth in this Sublease,
Sublandlord hereby subleases to Subtenant, and Subtenant hereby takes from Sublandlord, that
certain portion of the Master Premises containing approximately 4,931 square feet of
rentable area being more particularly shown in cross-hatching on the floor plan attached
hereto in Exhibit A (hereinafter referred to as the “Subleased Premises”). For the
avoidance of doubt, both parties agree that this will be the only space subject to the
Sublease and that all warehouse space which may or may not have been provided under the
Sublease from time to time prior to the date of this Amendment to the Sublease shall be
deemed fully returned to the Sublandlord with no further obligations from the Subtenant.
2. Section 2(a) of the Sublease shall be amended to read as follows:
Term. The term of the Sublease for the Additional Space only (the “Term”) shall
commence on February 1, 2006 (the “Commencement Date”) and shall terminate on January 31,
2007, provided, however, that Subtenant shall have the option to extend the Sublease for the
Additional Space for additional one (1) year periods (“Extension Periods”) by providing
written notice thereof to Sublandlord; provided, further, that no Extension Periods shall be
deemed to extend the sublease beyond the term of the Prime Lease, including any and all
option periods exercised by the Sublandlord; and (2) with respect to the space originally
leased under the Sublease, with the expiration of the Prime Lease, including, any and all
option periods exercised by Sublandlord
1.
unless otherwise sooner terminated in accordance with the provision of this Sublease (each
of which shall be referred to as an “Expiration Date”).
3. The first paragraph of Section 3(a) of the Sublease shall be amended to read as follows:
Minimum Rent. During the term of the Sublease, as amended by this Amendment,
Subtenant shall pay to Sublandlord a monthly full service rent (“Rent” for the subleased
Premises, without set-off, deduction or demand, in the amounts as detailed below. The rent
shall be inclusive of all electric, janitorial, building maintenance and all-pass-through
obligations under the Lease including but not limited to Common Area Maintenance (“CAM”) and
Real Estate Taxes. The Rent shall increase at annual adjustments of three percent (3%) for
the year preceding said anniversary, plus applicable sales tax thereon.
Monthly Rent Charges
With | ||||||||||||
additional | ||||||||||||
Period | Original Space | space | Total | |||||||||
Feb 1, 2006 - Sep 30, 2006 |
$ | 9,785.00 | $ | 720.00 | $ | 10,505.00 | ||||||
Oct 1, 2006 - Sep 30, 2007 |
$ | 10,078.55 | $ | 741.60 | $ | 10,820.15 | ||||||
Oct 1, 2007 - March 31, 2008* |
$ | 10,380.91 | $ | 763.85 | $ | 11,144.75 | ||||||
April 1, 2008 - Sep 30, 2008 |
$ | 10,380.91 | $ | 763.85 | $ | 11,144.75 | ||||||
Oct 1, 2008 - Sep 30, 2009 |
$ | 10,692.33 | $ | 786.76 | $ | 11,479.10 | ||||||
Oct 1, 2009 - Sep 30, 2010 |
$ | 11,013.10 | $ | 810.37 | $ | 11,823.47 | ||||||
Oct 1, 2010 - Sep 30, 2011** |
$ | 11,343.50 | $ | 834.68 | $ | 12,178.17 |
* | Sublease will terminate on 3/31/08 if ECI exercises its right to terminate prime lease. | |
** | This represents end of lease term. |
IN WITNESS WHEREOF, Sublandlord and Subtenant have caused this Amendment to be executed on
their behalf by their duly authorized representatives as of the day and year first above written.
SUBLANDLORD: | ||||||
ECI TELECOM, INC. | ||||||
a Delaware Corporation | ||||||
Signature: | /s/ Xxxx Xxxxxx | |||||
Printed Name: | Xxxx
Xxxxxx
|
|||||
Title: | General
manager
|
|||||
Date: | 02-23-06
|
|||||
2.
SUBTENANT: | ||||||
VERAZ NETWORKS, INC. | ||||||
a Delaware Corporation | ||||||
Signature: | /s/ Xx Xxxx | |||||
Printed Name: | Xx
Xxxx
|
|||||
Title: | CEO
|
|||||
Date: | 2/28/06
|
|||||
3.
Exhibit A
Rentable Area
Rentable Area