EXHIBIT 10.2
THIRD ADDENDUM
THIS ADDENDUM to that certain Lease Agreement by and between ZYTEC CORPORATION
("Lessee") and SUPERIOR INVESTMENTS I, INC. ("Lessor"), dated January 16,
1996 ("Lease Agreement") is made and entered into as of May 23, 1997.
WITNESSED:
WHEREAS, ZYTEC CORPORATION and SUPERIOR INVESTMENTS I, INC. entered into the
Lease Agreement dated January 16, 1996 for approximately 83,179 square
feet of 0000 Xxxxxxxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxx 00000.
WHEREAS, the Lease Agreement was modified by a First Addendum dated January 18,
1996.
WHEREAS, the Lease Agreement was modified by a Second Lease Addendum dated
January 22, 1996.
WHEREAS, the Lease Agreement was clarified with regards to square feet by a
Memorandum of Lease dated May 10, 1996.
NOW THEREFORE, in consideration of the mutual covenants contained, it is agreed
that the Lease Agreement is hereby amplified, modified and amended in the
following respects to be effective May 23, 1997, TO WIT:
1. The Premises effective July 1, 1997, shall be expanded to
include an additional 4,877 rentable square feet adjacent to
and to the north of the existing Premises (hereinafter
referred to as the "Expansion Area") as shown on the attached
Exhibit A increasing Lessee's Premises to a total rentable
area of 77,922 square feet. Whenever referred to in the Lease
Agreement, Lessee's proportionate share shall be 39.1%.
2. The additional base rental(1) payment for the Expansion Area
beginning July 1, 1997 shall be based on the per square
footage rate for "OFFICE/MANUFACTURING" area in Exhibit D of
the lease agreement and as shown below:
Date Annual Base Rent per s.f.
---- -------------------------
7/1/97-1/31/99 $3.12
2/1/99-1/31/00 $5.07
2/1/00-1/31/01 $5.22
2/1/01-1/31/02 $5.38
2/1/02-1/31/03 $5.54
2/1/03-1/31/04 $5.71
2/1/04-1/31/05 $5.88
2/1/05-1/31/06 $6.05
3. In consideration for this Third Addendum, Lessor shall provide
Lessee's agreed upon improvements to be completed in the
Expansion Area substantially as shown on the attached drawing
(Exhibit B). Notwithstanding the above, Lessor shall not be
obligated to install any improvements not specifically
indicated on Exhibit B to be performed by Lessor at Lessor's
cost and except as noted on the attached Exhibit B, Lessee
agrees to accept the Expansion Premises in its "as-is"
condition.
4. In consideration for this Third Addendum, Lessee agrees to
waive its Option to Expand and its First Right of Refusal as
described in paragraph 2a) and 2b) in the Lease Addendum dated
1/18/96 for unit 2600 only as described in the attached
Exhibit A.
5. This addendum shall not be binding on any party, unless and
until signed by both parties hereto.
Except as specifically mentioned herein, all other terms and conditions of the
original Lease Agreement shall remain the same and unchanged.
LESSEE: ZYTEC CORPORATION
By: /s/ Xxx Xxxxx Date: 5/29/97
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LESSOR: SUPERIOR INVESTMENTS I, INC.
By: /s/ Xxxxx X. Xxxxxx Date: 5/29/97
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(1) Along with the additional Base Rent for the Expansion Area, Lessee
shall be responsible for Operating Expenses on the Expansion Area as
defined in paragraph 5 of the Lease Agreement
EXHIBITS ATTACHED TO THIRD ADDENDUM
EXHIBIT A -- ORIGINAL DOCUMENT CONTAINS A FLOOR PLAN DRAWING OF THE BUILDING.
EXHIBIT B -- ORIGINAL DOCUMENT CONTAINS A FLOOR PLAN DRAWING INDICATING AGREED
UPON IMPROVEMENTS.
