AMENDMENT NO. 1 TO LEASE AGREEMENT
THIS AMENDMENT NO. 1 TO LEASE AGREEMENT (this 'Amendment') ,
made as of April 29, 1998 between Cedar Brook Corporate Center, L.P., 0000 Xxxx
Xxxx Xxxxxxxxx, Xxxxxxxx, Xxx Xxxxxx 00000 ("Landlord"), and Enamelon, Inc., a
New Jersey corporation, located at 000 Xxxxx 00, Xxxx 000, Xxxx Xxxxxxxxx, Xxx
Xxxxxx 00000 ("Tenant"),
W I T N E S S E T H:
WHEREAS, Landlord and Tenant are parties to a Lease Agreement
made January 1, 1998 (the "Lease") with respect to premises located at 0 Xxxxx
Xxxxx Xxxxx, Xxxxxxxx, Xxx Xxxxxx 00000, with occupancy scheduled to commence on
June 1 1998; and
WHEREAS, Landlord and Tenant desire to amend and restate the
provision of the Lease relating to the Security Deposit;
NOW, THEREFORE, in consideration of the foregoing and the
mutual covenants and promises set forth herein, Landlord and Tenant hereby agree
as follows:
1. Amendment to Lease. paragraph 38 of the Lease be and it
hereby is amended and restated to read in its entirety as follows:
"Security. Upon execution of this Lease, Tenant shall deposit
with Landlord the sum of $136,161.21 representing an estimate
of five (5) months rent, as security for the full and faithful
performance of its obligations under this Lease. Prior to the
Commencement Date, Tenant shall deposit with Landlord any
additional sum to bring the Security Deposit up to a full five
(5) months rent, based on Paragraph 4 (the "Original Deposit")
Landlord agrees that Tenant shall be entitled to receive six
percent (6%) interest per annum on sixty percent (60%) of the
Original Deposit, as set forth herein. Landlord, accordingly,
further agrees1 that Landlord shall return to Tenant twenty
percent (20%) of the Original Deposit at the end of each year
for the first three (3) years of this Lease, plus six percent
(6%) interest on sixty percent (60%) of the Original Deposit at
the conclusion of year one, six percent (6%) on forty percent
(40%) of the Original Deposit at the conclusion of year two (2)
and six percent (6%) on twenty percent (20%) of the Original
Deposit, at the conclusion of year three (3); provided,
however, that in each instance, Tenant's annual financial
statement indicates that it has Ten Million Dollars
($10,000,000) cash on hand. It is the intention of the parties
that Landlord shall never hold less than two (2) months
security. Upon Termination of this Lease, and provided Tenant
is not in default hereunder and has performed all of the
conditions of this Lease, Landlord shall return the remaining
Security Deposit to Tenant. Tenant covenants and agrees that it
will not assign, pledge, hypothecate, mortgage or otherwise
encumber the security during the term of this Lease. It is
expressly understood and agreed that Landlord shall not be
required to segregate the security."
2. Affirmation of Lease. The remainder of the Lease be and it
hereby is ratified and confirmed, in its entirety, except as
expressly amended herein.
IN WITNESS WHEREOF, the parties hereto have executed this
Amendment on the date first above written.
Cedar Brook Corporate Center, L.P.
By: /S/ Cedar Brook
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Landlord
Enamelon, Inc.
By: /S/ Xxxxx Xxxx
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Vice President-Finance,
Chief Financial Officer and
Treasurer
