EXHIBIT 10AM
SECOND AMENDMENT TO LEASE
BETWEEN
NEW AVON LIMITED PARTNERSHIP
AND
HAEMONETICS CORPORATION
New Avon Limited Partnership ("Landlord") and Haemonetics Corporation
("Tenant") hereby amend the Lease between the Landlord and Tenant, dated as of
July 29, 1997, as amended by a First Amendment to Lease dated August 31, 2002
(the "Lease").
Whereas, Landlord and Tenant have reached certain agreements regarding
Tenant's extension of the Lease and expansion into adjacent premises;
Now Therefor, for good, lawful and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and notwithstanding anything in the
Lease to the contrary, the Landlord and Tenant hereby agree as follows:
1. The First Amendment to Lease dated August 31, 2002 is hereby terminated
and of no force and effect.
2. The Lease Term under the Lease is hereby extended from December 1, 2002
to November 30, 2007 (the "Extended Term")and the Lease Termination Date, as set
forth in the Lease Information Page shall be November 30, 2007.
3. Tenant shall lease from Landlord certain premises adjacent to the
Demised Premises (shown as the "Additional Space" on the attached Exhibit "A")
comprising approximately 13,000 square feet, such that Tenant can take occupancy
of the Additional Space as of April 1, 2005, and from and after said April 1,
2005, the Demised Premises shall include the Additional Space.
4. Annual Rent for the Demised Premises for the Extended Term, effective
as of December 1, 2002, and terminating on November 30, 2007, shall be as
follows:
Calendar Period Annual Rent Monthly Rent
--------------- ----------- ------------
12/1/02-2/28/03 $208,800 $17,400
3/1/03-2/29/04 $218,400 $18,200
3/1/04-2/28/05 $228,000 $19,000
3/1/05-3/31/05 $237,600 $19,800
4/1/05-2/28/06 $301,950 $25,163
3/1/06-2/28/07 $317,200 $26,433
3/1/07-11/30/07 $329,400 $27,450
Rent is due and payable on the first day of the month without notice or demand.
5. In consideration of Landlord entering into this Second Amendment and as
a lease extension/modification fee, Tenant shall pay Landlord the sum of
$16,250.04, in twelve equal monthly installments of $1,354.17 commencing on
April 1, 2004, and continuing on the first day of each month thereafter; for the
purposes of this Agreement and the Lease, such shall be considered additional
rent due under the Lease.
6. Tenant's Share of the Real Estate Taxes and Operation Cost (as set
forth in the Lease Information Page), shall remain at 31.47% through March 31,
2005, and thereafter shall be 40.09%.
7. Tenant's Initial Estimated Monthly Payment on Account (as set forth in
the Lease Information Page) shall be $2,724 for Real Estate Taxes and $2,909.50
for Operating Cost through March 31, 2005, which amounts will increase as of
April 1, 2005 (currently estimated to be $3,441 and $3,675, respectively).
8. When the Additional Space becomes part of the Demised Premises, the
Additional Space shall be delivered to Tenant, in "as is, where is" condition,
and broom clean.
9. Tenant acknowledges that Landlord's obligations under this Second
Amendment to Lease are conditioned upon the following occuring (i) execution and
delivery of a new lease between Landlord and X.X. Xxxxxxx, Inc. upon terms
acceptable to Landlord in its sole discretion, and (ii) execution and delivery
of a lease extension agreement between Team Work Labor Services, Inc. and
Landlord upon terms acceptable to Landlord, in its sole discretion, and (iii)
execution and delivery of an amendment and restatement of lease termination
agreement between Landlord and X.X. Xxxxxxx, Inc. upon terms acceptable to
Landlord, in its sole discretion. In the event any one of (i), (ii) or (iii)
does not occur, Landlord may, at its sole option, terminate this Amendment by
written notice given to Tenant, and the same shall be void and of no force and
effect.
10. In all other respects the Lease is ratified and confirmed and in full
force and effect.
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Executed as a second amendment of lease under seal on this day of
February, 2004.
LANDLORD: TENANT:
New Avon Limited Partnership Haemonetics Corporation
by New Avon Development Corp.
it general partner
By: s/Xxxxxxxx X. Xxxxxxxxxx By: s/Xxxx Xxxxxx
------------------------------ ---------------------------------
Xxxxxxxx X. Xxxxxxxxxx, Xxxx Xxxxxx, President
President duly authorized
duly authorized
Date: 2/10/2004 Date: 2/10/2004
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