EXHIBIT 10.11
FOURTH AMENDMENT TO LEASE
Expansion of Leased Premises
THIS FOURTH AMENDMENT TO THE LEASE is made this 21/st/ of February, 2000 by
and between Xxxxxxx Properties, L.P., a California Limited Partnership, (the
"Landlord") and Pointshare Corporation, a Washington corporation, (the
"Tenant").
WHEREAS, Landlord and Tenant entered into a Lease Agreement dated February
3, 1999 (the "Lease") and amended thereafter for certain premises located at
0000 000xx Xxx. X.X., Xxxxxxxx, Xxxxxxxxxx 00000 (the "Premises"), as more fully
described in the Lease; and
WHEREAS, Landlord and Tenant desire to expand the Premises and modify the
Lease accordingly;
NOW THEREFORE, in consideration of the covenants and agreements contained
herein, the parties hereby mutually agree as follows:
1. PREMISES: Effective on March 1, 2000, the Premises shall include
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approximately 3,277 rentable square feet located in Suites 110 and 245 in
that certain building commonly known as Xxxxxx Canal Building "L", 1300
000/xx/ Xxxxxx XX, Xxxxxxxx, Xxxxxxxxxx, as outlined in Exhibit B attached
hereto, for a total of approximately 22,312 rentable square feet for Suites
L/100, L/110, L/208, L/232, L/240, L/245, L/250 of the Xxxxxx Canal Building
and I/220 of the Conifer Building (hereinafter defined as the "Entire
Premises").
Effective on March 1, 2002, the Entire Premises shall consist of
approximately 22,570 rentable square feet.
2. COMMENCEMENT DATE: The scheduled term commencement date for Suites L/110 and
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L/245 shall be March 1, 2000, as defined in Paragraph 24 of the Lease.
3. RENT: Effective on March 1, 2000, the Base Rent for the Entire Premises as
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defined in Paragraph 6 of the Lease shall be adjusted to reflect the
following:
03/01/00 - 08/31/00 $43,146.00 per month
09/01/00 - 02/28/01 $46,411.00 per month
03/01/01 - 02/28/02 $47,803.00 per month
03/01/02 - 02/29/03 $50,005.00 per month
03/01/03 - 02/28/04 $51,648.00 per month
03/01/04 - 02/28/05 $52,969.00 per month
4. TENANT'S PROPORTIONATE SHARE OF PROJECT:
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Effective on March 1, 2000, Tenant's Proportionate Share of the Project shall
be 4.824%.
Effective on March 1, 2002, Tenant's Proportionate Share of the Project shall
be 4.880%.
5. SECURITY DEPOSIT: Upon execution of this Fourth Amendment to Lease, Tenant
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shall deposit the sum of Eight Thousand Ninety and no/100 Dollars ($8,090.00)
in accordance with provisions of Paragraph 19 of the Lease. Upon deposit by
the Tenant of the sum herein required, the security deposit held by Landlord
shall total Fifty-Two Thousand Eight Hundred Seventy-Four and no/100 Dollars
($52,874.00). Upon Tenant's deposit of Fifteen Thousand Two Hundred Thirty-
Three and no/100 Dollars ($15,233.00) on or before September 1, 2000, as
outlined in the First Amendment, the security deposit held by the Landlord
shall total Sixty-Eight Thousand One Hundred Seven and no/100 Dollars
($68,107.00).
7. PARKING: Effective on March 1, 2000, Landlord will identify three (3)
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additional covered reserved parking stalls for Tenant's use at the Xxxxxx
Canal Building. Tenant shall pay Landlord $40.00 per month per additional
covered stall as additional rent, subject to increase over the term of the
Lease.
8. IMPROVEMENTS BY LANDLORD: Landlord shall deliver Suites L/110 and L/245 in
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the Xxxxxx Canal Building to Tenant in "as is" condition, except that
Landlord shall provide the following tenant improvements to Suites L/110 and
L/245 at Landlord's cost, utilizing building standard materials, finishes and
colors, as follows:
Suite L/110:
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. Create doorway between Suites 110 and 100 as shown on Exhibit C-1
Suite L/245:
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. New carpet and rubber base
. New paint on all walls
Page 1 of 2
Landlord shall provide any additional improvements not listed herein at
Tenant's sole cost and expense and as specified in a space plan to be
mutually approved by Landlord and Tenant and hereby incorporated into the
Lease in the form of an Addendum to the Fourth Amendment to the Lease as
necessary.
9. SPACE PLANNING: Landlord, at Tenant's sole cost, will engage an
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architectural firm for the preparation of any space plans and other
drawings, along with City permits and approvals which the Landlord, in its
sole discretion, determines to be necessary to do the space construction.
10. BROKER: Landlord and Tenant agree that no commission shall be due from
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Landlord to an outside party in connection with the Lease herein proposed
and that both parties shall indemnify the other against any claims by an
outside broker.
11. CONTINGENCY: Tenant acknowledges that Landlord has notified Tenant that
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Suites L/110 and L/245 in the Xxxxxx Canal Building are currently leased by
third party tenants. This Lease is subject to Landlord regaining possession
of Suites L/110 and L/245 from said third party tenants on terms and
conditions satisfactory to Landlord in its sole discretion.
Except as expressly modified above, all terms and conditions of the Lease
remain in full force and effect and are hereby ratified and confirmed.
LANDLORD: TENANT:
Xxxxxxx Properties, L. P. Pointshare Corporation,
a California limited partnership a Washington corporation
By: Xxxxxxx Properties, Inc.,
a Maryland corporation
Its: General Partner
/s/ Xxxxxxx Xxxxxxx /s/ Xxxxxxxxxxx X. Xxxxxxx
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By: Xxxxxxx X. Xxxxxxx By: Xxxxxxxxxxx X. Xxxxxxx
Its: Vice President Its: Vice President, Finance &
Administration
Date:___________________________ Date: 2/24/00
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Fourth Lease Amendment dated Page 2 of 2
2/18/00
Pointshare Corporation
STATE OF Washington )
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) ss.
COUNTY OF King )
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On this 24th day of February , 2000 , personally appeared before me
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Xxxxxxxxxxx X. Xxxxxxx , to me known to be the Vice President, Finance of the
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corporation that executed the within and foregoing instrument, and acknowledged
said instrument to be the free and voluntary act and deed of said corporation,
for the uses and purposes therein mentioned, and on oath stated that __he was
authorized to execute said instrument and that the seal affixed (if any) is the
corporate seal of said corporation.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Official
Seal the day and year first above written.
/s/ Xxxx X. Xxxxxxx
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Print Name: Xxxx X. Xxxxxxx
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[SEAL] NOTARY PUBLIC in and for the State of
Washington , residing at
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King County
-----------------------------------.
My commission expires: May 23, 2002
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STATE OF ________________)
) ss.
COUNTY OF ________________)
On this __________ day of ______________, 20__, personally appeared before
me Xxxxxxx X. Xxxxxxx, to me known to be the Vice President of the corporation
that executed the within and foregoing instrument, and acknowledged said
instrument to be the free and voluntary act and deed of said corporation, for
the uses and purposes therein mentioned, and on oath stated that he was
authorized to execute this instrument and that the seal affixed (if any) is the
corporate seal of said corporation.
________________________________________________
Print Name:_____________________________________
NOTARY PUBLIC in and for the State of
_______________________, residing at
___________________________________.
My commission expires:__________________________
Pointshare Corporation Lease Amendment dated 02/21/00 for Premises located at
Xxxxxx Canal Building, Suites 110 and 245
EXHIBIT B
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PREMISES
XXXXXX CANAL BUILDING "L", SUITES 110 and 245
POINTSHARE CORPORATION
Cross hatched portion outlined in red reflects the Premises as referenced in
Paragraph 1 of the Lease. As built condition may vary from plan. Not to scale.
[FIRST FLOOR PLAN]
[SECOND FLOOR PLAN]
Landlord ________
Tenant CPD
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EXHIBIT C
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IMPROVEMENTS
XXXXXX CANAL BUILDING "L", SUITES 110 AND 245
POINTSHARE CORPORATION
A. Landlord's Work
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Premises shall be delivered to Tenant in "As Is" condition, except that
Landlord, at Landlord's sole cost and expense, shall provide certain
improvements to be made in the Premises, as specifically described herein.
Tenant agrees to provide Landlord with information and approvals as may be
requested by Landlord in connection with Landlord's obligations pursuant to
this paragraph, including, but not limited to, materials, locations,
approvals and selections requested by Landlord from Tenant, on a timely
basis and in a time frame consistent with Landlord's construction and
delivery schedule. Notwithstanding anything contained herein to the
contrary, Landlord shall not be responsible to move, furnish or install
appliances, furniture, files, moveable partitions or systems furniture or
office equipment to Tenant or the Premises. Landlord's work shall be
completed utilizing Building Standard materials, finishes and colors.
Landlord may re-use materials and/or supplies in its sole discretion.
Improvements provided by Landlord shall consist of the following work in
the Premises to be completed on a schedule determined by Landlord in its
sole discretion (hereinafter referred to as "Landlord's Work"):
Suite 110:
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. Create doorway between Suites 110 and 100 as shown in Exhibit C-1
Suite 245:
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. New carpet and rubber base
. New paint on all walls
B. Tenant's Work
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Landlord shall make reasonable efforts to coordinate with Tenant's
construction project manager in scheduling installation of Tenant's cabling
and telecom equipment by Tenant's contractors and/or employees in the
Premises at Tenant's sole cost and expense (hereinafter referred to as
"Tenant's Work"). Tenant shall obtain at its sole cost and expense, permits
and other governmental approvals as may be required for the completion of
Tenant's Work. Building permits and any other governmental approvals for
Tenant's work shall be drawn separate and apart from those drawn by
Landlord for completion of the tenant improvements. Tenant's Work shall not
be performed under building permits or other approvals related to the work
performed by Landlord. Tenant agrees not to interfere with or cause delay
in the completion of tenant improvement work by Landlord and/or its
contractors. Tenant, its employees and/or contractors shall not perform any
Tenant's Work in the Premises without prior approval of Landlord. All such
approved Tenant Work performed prior to the Lease Commencement Date shall
be subject to all of the terms and conditions of the Lease except for the
payment of Base Rent which shall not be due until the Commencement Date.
Notwithstanding anything stated herein, if Tenant's Work causes a delay or
otherwise increases the cost of Landlord's Work, Tenant shall reimburse
Landlord for said costs on or before the Lease Commencement Date.
All improvements shall be subject to applicable codes, laws and other
governmental regulations which may apply.
Tenant's occupancy of the Premises shall be deemed acceptance of the Tenant
Improvements herein described and Landlord shall be deemed to have fulfilled its
obligations with respect to Tenant Improvements.
Landlord ________
Tenant CPD
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EXHIBIT C-1
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IMPROVEMENTS
XXXXXX CANAL BUILDING "L", SUITE 110
POINTSHARE CORPORATION
[FLOOR PLAN]
Landlord ______
Tenant CPD
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