Exhibit 10.24
AMENDMENT NO. 1 TO AGREEMENT OF LEASE
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THIS AMENDMENT TO AGREEMENT OF LEASE, made as of the 23rd day of October,
1998, between RIVERFRONT OFFICE PARK JOINT VENTURE, a Massachusetts joint
venture (hereinafter referred to as "Landlord") and MATHSOFT, INC., a
Massachusetts corporation (hereinafter referred to as "Tenant").
WITNESSETH THAT:
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WHEREAS, Landlord and Tenant are parties to an Agreement of Lease dated as
of August 17, 1993 for 11,212 rentable square feet on the 15th floor and 23,350
rentable square feet on the 16th floor of the building commonly known as and
numbered 000 Xxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx (hereinafter referred to as
the "Lease"); and
WHEREAS, the par-ties hereto wish to amend the Lease as set forth herein.
NOW, THEREFORE, for good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged by each of the parties hereto, it is
agreed as follows:
1. Unless the context otherwise requires, all capitalized terms used
herein shall have
the same meaning as set forth in the Lease.
2. Effective as of the last day of the initial Tern of this Lease (October
14, 1999) the
fifteenth (15th) floor of the Building shown on the plan attached hereto as
Exhibit A-1
and made a part hereof consisting of 11,212 square feet of rentable space
(hereinafter referred to as the "Eliminated I-Cube Fifteenth Floor Space") shall
cease to constitute a part of the Demised Premises.
3. Effective upon execution of this Amendment, reference to the Demised
Premises in Section 3.3 of the Lease shall mean the Demised Premises, exclusive
of the Eliminated I-Cube Fifteenth Floor Space.
4. From and after October 14, 1999, solely with respect to the Eliminated
I-Cube
Fifteenth Floor Space, Landlord and Tenant do hereby mutually release each other
(and their respective employees, officers, directors, owners, subsidiaries and
affiliates, collectively, the "Related Parties") from all claims, costs and
demands
and causes of actions arising out of and in connection with the Lease with
respect
to the Eliminated I-Cube Fifteenth Floor Space, except that nothing herein
contained shall be deemed to constitute a release or discharge of Landlord or
Tenant, as the case may be, or the Related Parties, with respect to any
obligation
or liability incurred by Landlord or Tenant under the Lease with respect to the
Eliminated I-Cube Fifteenth Floor Space which is outstanding and unsatisfied on
October 14, 1999.
5. From and after October 14, 1999 (except as set forth in paragraph
numbered 3
above), the Demised Premises under the lease shall be deemed to be the
Demised
Premises, exclusive of the Eliminated I-Cube Fifteenth Floor Space, and
accordingly, the Lease is hereby deemed amended as follows: (i) on October 14,
1999, Tenant's annual base rent shall be adjusted as set forth in Section 3.3 of
the
Lease; and (ii) from and after October 14, 1999, Tenant's proportionate share of
operating expenses and taxes as set forth in Section 6.4 of the Lease, shall be
reduced to 6.86% (23,350/340,240 square feet) and 7.14% (23,350/326,900
square feet), respectively. Further, notwithstanding anything to the contrary
contained herein, Landlord shall properly apportion any charges or credits due
to
or from Tenant under Section 6.2, 6.3 and 6.4 of the Lease based on Tenant's
proportionate share applicable to such period.
IN WITNESS WHEREOF, Landlord and Tenant have caused this instrument
executed under seal, all as of the day and year first above written.
RIVERFRONT OFFICE PARK JOINT VENTURE
By: RIVERFRONT OFFICE PARK ASSOCIATES
By: DARVEL REALTY TRUST
Managing General Partner
By: /s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx, Vice President
MATHSOFT, INC.
By: /s/ Xxxxxx X. Xxxxxxx
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AMENDMENT NO. 2 TO AGREEMENT OF LEASE
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THIS AMENDMENT TO AGREEMENT OF LEASE, made as of the 30th day of November,
1998, between RIVERFRONT OFFICE PARK JOINT VENTURE, a Massachusetts joint
venture (hereinafter referred to as "Landlord") and MATHSOFT, INC., a
Massachusetts corporation (hereinafter referred to as "Tenant").
WITNESSETH THAT:
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WHEREAS, Landlord and Tenant are parties to an Agreement of Lease dated as
of
August 17, 1993 for 11,212 rentable square feet on the 15th floor and 23,350
rentable square feet
on the 16th floor of the building commonly known as and numbered 000 Xxxx
Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx, as amended by Amendment No. 1 to Agreement of
Lease dated as of October 23, 1998 (said Agreement of Lease as amended by said
Amendment No. 1 to Agreement of Lease, hereinafter referred to as the "Lease");
and
WHEREAS, the parties hereto wish to further amend the Lease as set forth
herein.
NOW, THEREFORE, for good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged by each of the parties hereto, it is
agreed as follows:
1. Unless the context otherwise requires, all capitalized terms used herein
shall have the same meaning as set forth in the Lease.
2. Pursuant to Section 3.3 of the Lease, Tenant has exercised the first of
its two (2)
options to extend the Term of the Lease by an additional five (5) year period.
As
a consequence of the foregoing, the Term of this Lease, which is presently
scheduled to terminate on October 14, 1999, is hereby extended for an additional
five (5) year period ending on October 14, 2004.
3. Effective as of October 15, 1999, Article 1(19) of the Lease shall
be amended to
modify the Yearly Fixed Rent to equal the product of (a) $350,250
(calculated on
the basis of $15.00 per square for the 23,350 rentable square feet constituting
the
Demised Premises, multiplied by (b) a fraction the denominator of which shall be
151.0 (the consumer price index for urban wage earners and clerical workers
(CPI-W), Boston-Brockton-Nashua, MA-NH-ME-CT, all items for the month of
September, 1993) and the numerator of which shall be the consumer price index
for urban wage earners and clerical workers (CPI-W), Boston-Brockton-Nashua,
MA-NH-ME-CT, all items for the month of September, 1999). Promptly,
following publication of the consumer price index for urban wage earners and
clerical workers (CPI-W), Boston-Brockton-Nashua, MA-NH-ME-CT of all items
for the month of September, 1999, Landlord and Tenant shall execute a written
amendment to the Lease setting forth the Yearly Fixed Rent for the five (5) year
extension period as determined as aforesaid.
4. Effective as of October 15, 1999, Article 1(9) of the Lease is
amended to read in
its entirety as follows:
"(9) Parking Spaces: Seventy (70)."
5. Pursuant to Section 27.6 of the Lease, the Additional Rent for
Parking Spaces
during the renewal Period shall be equal to seventy-five percent (75%) of the
then
prevailing monthly charge for enclosed parking spaces for tenants of other first
class office buildings in the Xxxxxxx Square, Cambridge, Massachusetts area.
6. Except as herein expressly modified, the provisions of the Lease are
hereby
confirmed and ratified and shall continue in full force and effect.
IN WITNESS WHEREOF, Landlord and Tenant have caused this instrument to be
executed under seal, all as of the day and year first above written.
RIVERFRONT OFFICE PARK JOINT VENTURE
By: RIVERFRONT OFFICE PARK ASSOCIATES
By: DARVEL REALTY TRUST
Managing General Partner
By: /s/ Xxxxxxx X. Xxxxxxxx
------------------------
Xxxxxxx X. Xxxxxxxx, Vice President
MATHSOFT, INC.
By: /s/ Xxxxxx X. Xxxxxxx
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