EXHIBIT 10AF
FIRST 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 (the "Lease").
Whereas, Tenant wishes to exercise its option to renew the Lease, as
set forth in Section 29 of the Lease, conditioned upon Tenant being able to
expand into adjacent premises on or about April 1, 2004; and
Whereas, said adjacent premises are currently under lease with
another tenant, such lease expiring on or about January 15, 2005; and
Whereas, Landlord and Tenant have reached agreement with respect to a
short term extension of the Lease and with respect to a longer term
extension of the lease if the adjacent space is available to Tenant as
aforesaid, as well as the base rental to be charged during the short term
renewal and long term extension; and
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 Lease Term under the Lease is hereby extended for one (1)
year terminating on November 30, 2003 (the "Short Extended Term"), and the
Lease Termination Date, as set forth in the Lease Information Page shall be
November 30, 2003.
3. Annual Rent for the Demised Premises for the Short Extended Term,
effective December 1, 2002, and terminating on November 30, 2003 shall be
as follows:
Calendar Period Annual Rent Monthly Rent
--------------- ----------- ------------
12/1/02-11/30/03 $235,200 $19,600
4. If Landlord gives Tenant written notice, on or before December 1,
2002, that Landlord has secured an early termination of the adjacent space
currently occupied by J.N, Xxxxxxx Co., Inc. (shown as the "Additional
Space" on the attached Exhibit "A"), such that Tenant can take occupancy of
the Additional Space as of April 1, 2004, from and after said April 1,
2004, the Demised Premises shall include the Additional Space.
5. If Landlord gives such notice to Tenant, as aforesaid, the Lease
Term under the Lease is hereby extended from December 1, 2003 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.
6. If Landlord gives such notice to Tenant, as aforesaid, Annual
Rent for the Demised Premises for the Extended Term, effective 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
3/1/04-3/31/04 $228,000 $19,000
4/1/04-2/28/05 $289,750 $24,146
3/1/05-2/28/06 $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.
7. 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, 2004, and thereafter shall be 40.09%.
8. Tenant's Initial Estimated Monthly Payment on Account (as set
forth in the Lease Information Page) shall be $2,282 for Real Estate Taxes
and $2,675 for Operating Cost through March 31, 2004, which amounts will
increase as of March 1, 2004 (currently estimated to be $2,907 and $3,408,
respectively).
9. If, as and 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.
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10. In the event that Landlord fails to deliver the Additional Space
to Tenant by April 1, 2004, the parties agree to a ratable adjustment of
all amounts due hereunder by Tenant until the Additional Space has been
delivered to Tenant by Landlord.
11. In all other respects the Lease is ratified and confirmed and in
full force and effect.
Executed as a second amendment of lease under seal on this day
of August, 2002.
LANDLORD: TENANT:
New Avon Limited Partnership Haemonetics Corporation
by New Avon Development Corp.
it general partner
By: /s/ Xxxxxxxx X. Xxxxxxxxxx By: /S/ Xxxxx X. Xxxxxxxx
------------------------------- --------------------------------
Xxxxxxxx X. Xxxxxxxxxx, Pres. Xxxxx X. Xxxxxxxx, President
duly authorized duly authorized
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