Exhibit 10.2
LEASE TERMINATION AGREEMENT
This Lease Termination Agreement ("Agreement") is made by and between
Warehouse Associates Corporate Centre Xxxxx, Ltd., a Texas limited partnership
("Xxxxx I"), Warehouse Associates Corporate Centre Xxxxx XX, Ltd., a Texas
limited partnership (Xxxxx XX"), and Sharps Compliance, Inc. ("Tenant").
W I T N E S S E T H:
WHEREAS, Xxxxx I and Tenant entered into that certain Lease Agreement (the
"Existing Lease") dated as of July 3, 2002, covering the premises located at
0000 Xxxxx, Xxxxx 000, Xxxxxxx, Xxxxx 00000 (the "Existing Premises"); and
WHEREAS, contemporaneously with the execution hereof, Xxxxx XX and Tenant
are entering into that certain Lease Agreement (the "New Lease") covering the
approximately 18,231 rentable square feet having an address of 0000 Xxxxx, Xxxxx
000, Xxxxxxx, Xxxxx 00000 (the "New Premises"); and
WHEREAS, Xxxxx I and Tenant have agreed that the existing Lease will be
terminated upon acceptance of the New Premises by Tenant as hereinafter set
forth.
NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Xxxxx I, Xxxxx XX and Tenant do
hereby agree as follows:
1. Termination of Existing Lease. The Existing Lease will be terminated
upon acceptance of the New Premises by Tenant in accordance with the terms of
the New Lease (the "New Commencement Date").
2. Security Deposit. Tenant's Security Deposit under the Existing Lease
will be transferred to the New Lease on the New Commencement Date.
3. Additional Tenant Improvement Allowance. On the New Commencement Date,
Tenant shall be paid a tenant improvement allowance in the amount of $20,000.00.
EXECUTED effective as of the 13th day of July, 2006.
[signatures on following page]
WAREHOUSE ASSOCIATES CORPORATE CENTRE XXXXX, LTD., a
Texas limited partnership
By:
--------------------------------------------------
Xxxxx X. Xxxxx, Authorized Agent
WAREHOUSE ASSOCIATES CORPORATE CENTRE XXXXX XX, LTD.,
a Texas limited partnership
By:
--------------------------------------------------
Xxxxx X. Xxxxx, Authorized Agent
SHARPS COMPLIANCE, INC.
By:
--------------------------------------------------
Xxxxx X. Xxxx, Executive Vice President
Chief Financial Officer and Business Development
2
