EXHIBIT 10.9
AMENDMENT TO LEASE #1
In connection with a lease currently in effect between the parties at 233,
234, 236, 238 and 000 Xxxx Xxxxxxxx Xxxx, Xxxxxx, Xxxxxxxxxxxxx, executed on
March 10, 1995 and terminating February 28, 2001, and in consideration of the
mutual benefits to be derived herefrom, Xxxxxxxx Properties Management, Inc.,
LESSOR, and Anika Therapeutics, Inc., f/k/a Anika Research, Inc., LESSEE, hereby
agree to amend said lease as follows:
1. * The size of the leased premises is hereby increased by approximately
2,985 square feet, from approximately 22,820 square feet to a new total of
approximately 25,805 square feet, with the addition of 000 Xxxx Xxxxxxxx
Xxxx.
2. * The Security Deposit is hereby increased by $8,500.00 from $51,000.00 to
a new total of $59,500.00. LESSEE shall pay this increase upon LESSEE'S
execution of this amendment.
3. The parties acknowledge and agree that 000 Xxxx Xxxxxxxx Xxxx is presently
under lease to a third party whose lease terminates on or about February
28, 1999. Upon full execution of this amendment and full payment of the
increase in security deposit provided for in Section 2 above, LESSOR will
use reasonable efforts to obtain possession of said premises from the
existing tenant prior to the termination of its lease. In the event that
LESSOR fails for any reason to deliver possession of said premises by the
effective date of this amendment to lease, LESSEE may deduct $3,440.21 per
month from each monthly rental payment (to be apportioned for any partial
month's occupancy following delivery of possession) until such time as
LESSOR delivers possession of said premises to LESSEE. This abatement of
rent shall be LESSEE'S sole remedy for any delay in delivery of said
premises, except as otherwise provided in Section 4 below.
4. If LESSOR is unable to deliver 000 Xxxx Xxxxxxxx Xxxx to LESSEE by June 1,
1998, then Sections 1, 2 and 3 of this amendment shall be of no further
force or effect, LESSOR shall refund the $8,500.00 increase in the
security deposit, the annual base rent shall be decreased by $40,275.65
and the adjusted base rent shall be reduced accordingly.
5. LESSOR hereby authorizes LESSEE, at LESSEE's sole expense, to increase the
capacity of the existing underground hazardous substances storage system
underneath the parking area at the leased premises according to a plan to
be mutually agreed upon by the parties. LESSEE shall obtain any necessary
permits and LESSOR's written approval for such modifications prior to the
commencement of any work, which shall comply with LESSOR'S construction
specifications. LESSEE shall restore any disturbed landscaping, parking
and other areas promptly upon completion of this work.
6. All reference to the underground hazardous substances storage system in
Paragraph E of the Rider to Lease shall specifically apply to the enlarged
underground hazardous substances storage system provided for herein.
7. * With reference to Section 15 of the lease, LESSEE shall include LESSOR
and OWNER on LESSEE's comprehensive general liability policy as additional
insureds using standard endorsement ISO Form CG 20 26 11 85 or another
form approved in advance by LESSOR.
8. * LESSOR and LESSEE hereby waive any and all rights to a jury trial in any
summary process or eviction proceeding in any way arising out of the
lease.
9. Exhibit A to the lease is hereby deleted and replaced with the substitute
Exhibit A-1 attached hereto and dated November 11, 1997.
All other terms, conditions and covenants of the present lease shall
continue to apply except that adjusted base rent shall be increased by
$41,282.55 annually, from a total of $315,771.75 to a new annual total of
$357,054.30 or $29,754.52 per month. Annual base rent for purposes of computing
any future escalations thereon shall be $348,345.65. This amendment shall be
effective December 1, 1997 and shall continue through the balance of the lease
and any extensions thereof unless further modified by written amendment(s).
In Witness Whereof, LESSOR and LESSEE have hereunto set their hands and
common seals this 11th day of December, 1997.
LESSOR: XXXXXXXX PROPERTIES LESSEE: ANIKA THERAPEUTICS, INC.
MANAGEMENT, INC.
By: /s/ XX XXXXXXXX By: /s/ XXXXX X. XXXXXX
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President 11/21/99
