Exhibit 10.11
PARTIAL LEASE TERMINATION AGREEMENT
WHEREAS, 000 Xxxx Xxxxxx Associates, LLC ("Landlord") and
Electronic Retailing Systems International, Inc. ("Tenant") are
parties to a Lease Agreement dated May, 1997 and an Amendment
No. 1 to Lease Agreement dated July, 1997 (together referred to
as the "Lease"); and
WHEREAS, pursuant to the Lease, Tenant rents from Landlord
premises on the second floor of the building; and
WHEREAS, one of the spaces Tenant rents from Landlord on
the second floor is designated as a portion of Area #1 in the
Lease and is designated as the "Expressway" space and is
stipulated to be 2,455 rentable square feet ("Premises #1"); and
WHEREAS, another of the spaces Tenant rents from Landlord
on the second floor is designated as Area #2 in the Lease and is
designated as the "ABC" space and is stipulated to be 1,460
rentable square feet ("Premises #2"); and
WHEREAS, Tenant is desirous of Landlord taking back the two
said premises and Landlord is willing to do so pursuant to the
terms and conditions of the herein Partial Lease Termination
Agreement;
IT IS HEREBY AGREED AS FOLLOWS:
1. That Tenant shall deliver both of said premises to the
Landlord, clean and vacant of any of Tenant's personalty,
on or before February 1, 2000.
2. That effective March 1, 2000, Tenant shall have no further
obligation as to Premises #1 and the Lease shall be
terminated with respect to said premises.
3. That effective June 1, 2000, Tenant shall have no further
obligation as to Premises #2 and the Lease shall be
terminated with respect to said premises.
4. That simultaneous with the execution of the herein
Agreement, Tenant will remit to Landlord a check for Ten
Thousand ($10,000) Dollars.
5. It is the intent of the herein Agreement to terminate the
Lease only as to the two said premises on the second floor
and it is agreed that all other terms and conditions of the
Lease shall remain in full force and effect.
Dated: January 27, 2000
s/Xxxxx Xxxxxx s/Xxxxx XxXxxxxxx
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000 Xxxx Xxxxxx Associates, LLC Electronic Retailing Systems
International, Inc.
By: Xxxxx Xxxxxx By:
Its: Managing Member Its:
