KYZEN CORPORATION
EXHIBITS (cont)
Exhibit 10.37
Second Amendment to Lease Agreement
This Second Amendment to Lease Agreement dated as of this 20th day of May
2002 by and between FIVE-FORTY NORTH ASSOCIATES, a New Hampshire limited
partnership having a mailing address of 000 Xxxxx Xxxxxxxxxx Xxxxxx,
Xxxxxxxxxx, XX 00000 (hereinafter referred to as the "Landlord"), and
KYZEN CORPORATION, a Tennessee corporation (hereinafter referred to as the
"Tenant").
WHEREAS, Landlord and Tenant are parties to a Lease Agreement dated April
25, 1995 (the "Lease") and First Amendment dated December 30, 1997, under
which Landlord leased to Tenant and Tenant leased from Landlord a portion
of a building located on land owned by the Landlord at 000 Xxxxx
Xxxxxxxxxx Xxxxxx in Manchester, New Hampshire (the "Building");
WHEREAS, Landlord desires to lease to Tenant and Tenant desired to extend
their original Lease and First Amendment, which shall include the
additional 800 square feet currently being leased in additional to their
6,625 square feet for a total of 7,425 square feet.
WHEREAS, the parties desire to amend the Lease to provide for the terms
and conditions under which the term of the Lease shall be extended.
NOW THEREFORE, in consideration of the mutual convenants and conditions
contained herein, the parties agree as follows:
1. EFFECTIVE DATE: The effective date of this Second Amendment to Lease
Agreement shall be June 1, 2002.
2. TERM OF LEASE: The term of this Lease Amendment is for a period of
four (4) years, commencing June 1, 2002 and ending on May 31, 2006.
3. RENT: Tenant shall pay Landlord, as base rent for the Leased
Premised during the term of this Lease Amendment as follows:
(a) From June 1, 2002 to May 31, 2003, Lessee shall pay Lessor
Base Rent at the annual sum of Thirty-nine thousand, eight
hundred forty dollars ($39,840.00) which rent shall be
payable, in advance, in equal monthly installments of
$3,320.00 on the first day of each and every calendar month
during such period.
(b) From June 1, 2003 to May 31, 2004, Lessee shall pay Lessor
Base Rent at the annual sum of Forty-two thousand, two hundred
forty dollars ($42,240.00) which rent shall be payable, in
advance, in equal monthly installments of $3,520.00 on the
first day of each and every calendar month during such period.
(c) From June 1, 2004 to May 31, 2005, Lessee shall pay Lessor
Base Rent at the annual sum of Forty-three thousand, four
hundred forty dollars ($43,440.00) which rent shall be
payable, in advance, in equal monthly installments of
$3,620.00 on the first day of each and every calendar month
during such period.
(d) From June 1, 2005 to May 31, 2006, Lessee shall pay Lessor
Base Rent at the annual sum of Forty-four thousand, six
hundred forty dollars ($44,640.00) which rent shall be
payable, in advance, in equal monthly installments of
$3,720.00 on the first day of each and every calendar month
during such period.
4. ADDITIONAL RENT: Notwithstanding any other provisions contained in
the Lease to the contrary, the amount stated above for Base Rent,
beginning June 1, 2002, shall be inclusive of Tenant's Common Area
Maintenance Charge and Tenant's Proportionate Share of Real Estate
Taxes.
5. ADDITIONAL LEASE AMENDMENT PROVISIONS: In the event that, in the
opinion of Landlord, emission/fumes from Lessee's
manufacturing/cleaning processes are causing a problem for other
tenants in the building to the extent that remedial measures must be
implemented, then, at the Landlord's direction, the Lessee shall
install a vent stack to above the roof line to address the problem.
Said vent stack shall be installed of materials and in a manner and
location specified by Landlord. Landlord shall reimburse Lessee for
50% of the cost of fabricating and installing said vent stack, up to
a maximum reimbursement of $5,000.00.
6. Except as amended herein, all terms and conditions of the Lease
remain in full and effect, unless they have previously expired.
KYZEN CORPORATION
EXHIBITS (cont)
IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment
to Lease Agreement as of the day and year first written above.
FIVE-FORTY NORTH ASSOCIATES
Dated: June 3, 2002 By: /s/ Xxxx X. Xxxxxx, General Partner
------------------------ -----------------------------------
Xxxx X. Xxxxxx, General Partner
KYZEN CORPORATION
Date: May 28, 2002 By: /s/ Xxxx X. Xxxxx
its duly authorized President
