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EXHIBIT 10.50
FIRST AMENDMENT TO SUBLEASE
This First Amendment to Sublease, made this 17th day of November, 1999
by and between CP Clare Corporation (hereinafter referred to as "Sublessor") and
Implant Sciences Corporation (hereinafter referred to as "Sublessee").
WITNESSETH
Whereas, the parties have previously entered into a Sublease Agreement
for 9,300 SF of space at Building 1, 000 Xxxxxxx Xxxx, Xxxxxxxxx, XX dated
October 1, 1999 (hereinafter referred to as the "Sublease") and
Whereas, the parties hereto do hereby agree as follows:
1. SUBLEASE PREMISES: Increased by 8,000 SF in accordance with plan attached as
Exhibit A.
2. OCCUPANCY: Upon completion ofsublessors work or no later than December 6,
1999.
3. RENT COMMENCEMENT: March 1, 2000
4. TERM: Remains the same
5. SECURITY DEPOSIT: Increased by $4833.00
6. RENTAL RATE: In accordance with Exhibit C of Sublease.
7. EXPEDITE FEE: Sublessee agrees to pay sublessor a $4,000.00 expedite fee to
ensure December 6, 1999 occupancy. Expedite fee payable upon completion of
sublessor's work as described in Item 8.
8. SUBLESSOR'S WORK: Sublessor shall provide a tile floor (VAT), new ceiling
tiles, painted walls, 2-3 opening cut in walls, and install all HVAC systems,
but otherwise broom clean.
9. The parties confirm, ratify and agree that all other terms and provisions and
conditions of the Sublease, except as heretofore noted, shall continue as
heretofore rented and as if they were printed at large herein and they are
hereby incorporated by reference.
In witness whereof, the parties hereto, intending to be legally bound, have
caused this instrument to be executed on the day written above.
Witness: Sublessor: CP Clare Corporation
By: /s/ Xxxxx Xxxxxxxx
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Its: CFO
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Sublessee: Implant Sciences Corporation
By: /s/ Xxxxxxx X. Xxxxxxx-Xxxxx
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Its: VP CFO
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[LEGGAT XXXXXX PROPERTIES LETTERHEAD]
February 2, 2000
VIA OVERNIGHT MAIL
Xx. Xxxx Xxxx
Facilities Manager
CP Clare Corporation
00 Xxxxxx Xxxx Xxxxx
Xxxxxxx, XX 00000-0000
Xx. Xxxxxxx X. Xxxxxxx-Xxxxx
Vice President and Chief Financial Officer
Implant Sciences Corporation
000 Xxxxxxx Xxxx, Xxxxx 00
Xxxxxxxxx, XX 00000-0000
RE: 000 XXXXXXX XXXX, XXXXXXXX 0, XXXXXXXXX, XXXXXXXXXXXXX
Dear Xxxx and Xxxxxxx:
I have enclosed for your files, one (1) fully executed original sublease package
consisting of a fully executed original First Amendment to Sublease agreement
and a fully executed Consent to Amendment of Sublease agreement between CP Clare
Corporation and Implant Sciences Corporation for space at the above referenced
property.
If you have any further questions, please do not hesitate to call.
Sincerely,
/S/ Xxxx X. Xxxxxxxxx
Xxxx X. Xxxxxxxxx
Vice President
cc: Xxxxxx X. Xxxxx, Xxxxxx XxXxxx Properties LLC
Xxxxxx Xxxxxx, Leggat XxXxxx Properties LLC
Xxxx Xxxxx Xxxxxxx, Esq., Xxxxxxx & Xxxxxxx
Xxxx Xxxxxxx, Xxxxxxx & Associates, Inc.
Lease File
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CONSENT TO AMENDMENT OF SUBLEASE
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PREAMBLE
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THIS CONSENT TO AMENDMENT OF SUBLEASE ("Consent") is dated as of January
31, 2000 and is made with reference to that certain Sublease Agreement (the
"Sublease Agreement") dated October 1, 1999 as amended by First Amendment to
Sublease ("First Amendment") dated as of November 17, 1999 (the Sublease
Agreement as amended by the First Amendment is hereafter collectively the
"Sublease") by and between C.P. Clare Corporation ("Sublandlord") and Implant
Sciences Corporation ("Subtenant"), and is entered into by and among TIAA
Realty, Inc. having an address c/o Leggat XxXxxx Properties, LLC, 000 Xxxxxxxxx
Xxxxx, Xxxxxxxxx, XX ("Overlandlord"), Sublandlord, and Subtenant, with respect
to the following facts:
A. Overlandlord and Sublandlord are the parties to that certain Lease
dated as of April 1, 1998 as amended by First Amendment to Lease
dated July 10, 1998 (said Lease as so amended is hereafter
collectively the "Ovedease") pertaining to certain space in a
Building known as and numbered Building 1,107 Audubon Road,
Wakefield, Massachusetts (the "Building");
B. Sublandlord and Subtenant have previously entered into the
Sublease Agreement and now wish to enter into the First Amendment;
C. Overlandlord consented to the original Sublease Agreement by
virtue of and upon the terms and conditions set forth in that
certain Consent to Sublease dated as of September 23, 1999 (the
"Original Consent")
D. The Xxxxxxxxx provides, inte.r alia, that Sublandlord may not
enter into any sublease nor amend the Sublease Agreement without
Overlandlord's prior written approval; and
E. Sublandlord and Subtenant have presented the fully executed
Sublease (a true copy of which is attached hereto as Exhibit A) to
Overlandlord for Overlandlord's review and approval.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Overlandlord hereby consents to the execution and delivery
of the First Amendment of the Sublease upon the terms and
conditions set forth in the General Conditions of Consent
to Sublease ("General Conditions") attached to the Odginal
Consent as if each were originally set forth herein.
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2. Sublandlord and Subtenant hereby acknowledge receipt of the
General Conditions and further acknowledge that
Overlandlord's consent is subject to such General
Conditions, and that in the event of a conflict between
this Consent and the General Conditions and the Sublease,
this Consent and the General Conditions shall control.
EXECUTED under seal as of the date first written above.
OVERLANDLORD: SUBLANDLORD:
TIAA Realty, Inc,.. C.P. Clare Corporation
By: Teachers Insurance and Annuity By: /s/ Xxxxx Xxxxxxxx
Association of Amedca, a New --------------------------------
York corporation.
Its: Authorized Representative Its: CFO
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By: /s/ Xxxx X. Xxxx
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Xxxx X. Xxxx
Its: Director
SUBTENANT:
Implant Sciences Corporation
By: /s/ Xxxxxxx X. Xxxxxxx-Xxxxx
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Its: VP and CFO
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hereunto duly authorized
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