EXHIBIT 10.13
MODIFICATION AND RATIFICATION
This Modification and Ratification of Lease Agreement is made and entered
between Government Employees Insurance Company (Landlord) and Efficient
Networks, Inc., (Tenant) for and in consideration of One Dollar ($1.00) and
other good and valuable consideration, receipt of which is hereby acknowledged.
WITNESSETH:
1. Landlord and Tenant hereby confirm and ratify, except as modified below,
all of the terms, conditions and covenants in that certain written Lease
Agreement dated August 19, 1993, between Landlord and Tenant ("The Lease"),
for the rental of the following described property: Approximately 10,348
rentable square feet (Primary Space) of office space located at 0000 Xxxxxx
Xxxxxx Xxxx, Xxxxx 0000, Xxxxxx, Xxxxx, 00000.
2. Effective July 1, 1995, or substantial completion, Landlord and Tenant
hereby agree to expand the premises to include the remainder of the twelfth
(12) floor which includes 8,322 rentable square feet (Expansion space).
Therefore, Tenant's total rentable square footage under Lease shall be
18,670.
3. The term of the Lease shall be extended an additional thirty-seven (37)
months (Lease Extension) to run coterminous with the expansion space.
Therefore, the new expiration date shall be October 31, 2001.
4. The following shall be the new base rental structure:
Months Expansion Space Total Base Rental
------ --------------- ----------------
Aug 95 - Dec 95 1 - 5 $ 8.00 psf or $5,548.00 per month $15,896.00 per month
Jan 96 - Oct 96 6 - 15 $12.60 psf or $8,738.10 per month $19,086.10 per month
Nov 96 - Oct 97 16 - 27 $13.45 psf or $9,327.58 per month $20,106.75 per month
Nov 97 - Oct 98 28 - 39 $13.60 psf or $9,431.60 per month $20,210.77 per month
*Nov 98 - Oct 99 40 - 51 $13.60 psf $21,159.33 per month
*Nov 99 - Oct 00 52 - 63 $13.80 psf $21,470.50 per month
*Nov 00 - Oct 01 64 - 76 $14.20 psf $22,092.83 per month
* Extension of current Lease which includes Expansion space.
5. Tenant's Base Year on the Expansion space shall be 1995.
6. Landlord shall provide a Tenant improvement allowance of up to $12.25 per
rentable square foot ($101,944.50) for improvements to the expansion or
primary space. If Tenant improvements exceed such amount, Landlord shall
amortize up to $2.00 per rentable square foot ($16,644.00) at 10% interest
through-out the Lease term, beginning the amortization at month twelve
(12).
7. Landlord shall pay its space planner, or other required design disciplines
up to $1.00 per rentable square foot ($8,322.00) to prepare the appropriate
construction documents and MEP's for the expansion space. Tenant will be
responsible for any cost overages for such services, which must be paid to
Landlord within thirty (30) days of receiving notice of such overage or may
be charged to the Tenant Improvement Allowance unless such allowance is
exhausted.
8. Landlord shall be responsible for ADA compliance in the twelfth (12) floor
restrooms. Such alterations, if required, will be performed in a design and
at a time determined by Landlord the cost of such alterations shall be at
Landlord's expense.
9. The option to terminate the Lease as shown in Section C of the "Rider to
Office Lease Agreement" (Rider) shall be changed:
Tenant shall have the right to terminate the Lease per the procedure and
terms contained in Section C after it's thirty-sixth (36) month of
occupancy under this Modification and Ratification. This is a one (1)
time option. The termination option date contained in Section C is
eliminated.
10. Tenant shall have the right to have installed, up to 22 letter characters
on the existing building monument sign located on the corner of Spring
Valley and Midway. Landlord shall purchase the selected building standard
lettering and have such signage installed in a location determined by
Landlord. Tenant shall be responsible for the cost of all materials
required for such installation, including, but not limited to, the letters.
Landlord will pay for installation labor only. Tenant must give Landlord
written notice of its desire to have such signage installed. Landlord
reserves the right to approve the name installed, such approval shall not
be unreasonably withheld.
11. Tenant's ongoing right of first offer as shown in Section E of the Rider
shall be expanded to include the ninth (9) floor. However, such right is
subordinate to any and all space that may be required for the Landlord's or
its affiliates use.
12. Tenant shall receive an additional fourteen (14) covered parking spaces at
no charge for the term of this Modification and Ratification.
13. All other terms and conditions shall be per the original Lease document.
Executed this 8th day of May 1995.
--- ---
Agreed and Accepted: Agreed and Accepted:
Tenant: Landlord:
Efficient Networks, Inc. Government Employees
Insurance Company
By: /s/ Xxxx X. Xxxxx By: /s/ Signature Illegible
---------------------- ------------------------
It's: President It's: asst. V.P.
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