Exhibit 10.03
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LEASE EXTENSION
MEMOREX DRIVE LLC, LESSOR &
CENTAUR PHARMACEUTICALS, INC., LESSEE
Centaur Pharmaceuticals, Inc. does hereby amend the terms of its three-year
option to renew the following described leases until April 30, 2007, under all
of the same terms and conditions of the original leases, their exhibits and
their addendums:
Lease dated 2/12/97 between Memorex Drive LLC, Lessor and
Centaur Pharmaceuticals, Inc., Lessee, covering 0000 Xxxxxxx
Xx. Xxxxx 000, Xxxxx Xxxxx, XX commencing 5/1/97 and
terminating 4/30/2004, including Addendums I and II.
Lease dated 5/30/97 between Memorex Drive LLC, Lessor and
Centaur Pharmaceuticals, Inc., Lessee, covering 0000 Xxxxxxx
Xx. Xxxxx 000 and suite 300, Santa Clara, CA commencing
7/1/97 and terminating 4/30/2004, including Addendum I.
Memorex Drive LLC does accept and approve said lease extensions under all of the
terms and conditions of the original leases, exhibits, and addendums, except;
It is agreed that the first month's rent under this extension shall be equal to
one hundred and five percent (105%) of the previous month's rent, and a five
percent (5%) annual increase shall apply in each of the succeeding extension
years.
Tenant shall have three one-year options to renew each extended leases provided
a) Lessee is not in default, and b) Lessee gives written notice to Lessor of its
intent to exercise such option no later than six (6) months prior to Lease
expiration. First month's rent during any option period shall be equal to the
greater of 105% of the previous month's rent, or the then prevailing fair market
rent for similar properties having improvements similar to those existing at the
time of original possession.
Centaur Pharmaceuticals, Inc., Lessee
By: /s/ Xxxx X. Day Title VP Finance & CFO Dated 7/31/00
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By: _________________________ Title ____________________ Dated ____________
Memorex Drive LLC
By: /s/ Xxxxx Xxxxx Dated 7/26/00
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Managing Member
