EXHIBIT 10.20
LEASE AMENDMENT
This AGREEMENT, made and entered into by and between XXXXXX 4 & 5 INVESTORS LP,
a Delaware limited partnership (hereinafter referred to as "Initial Landlord"),
and Luminex Corporation (hereinafter referred to as "Tenant");
WITNESSETH:
----------
WHEREAS, Aetna Life Insurance Company, by UBS Realty Investors LLC, Its
Investment Advisor and Agent, "Landlord", and Tenant entered into a Lease
Agreement dated October 19, 2000 (hereinafter referred to as "Lease") for
approximately 98,158 square feet of space located at 12109 - 12201, 12212 and
00000 Xxxxxxxxxx Xxxx., Xxxxxx, Xxxxx;
WHEREAS, Initial Landlord transferred its rights and obligations under the Lease
to XxXxxx 4 & 5 Investors LP (collectively with Initial Landlord, "Landlord") on
September 26, 2002; and
WHEREAS, Tenant desires to be relieved of all future responsibilities for a
portion of the total Lease Premises containing approximately 22,713 square feet
in XxXxxx 4 and as shown and further described on Exhibit "A" attached hereto
and made a part hereof, and the obligations as set forth therein, excluding any
current or accrued responsibilities or obligations such as base rent, common
area maintenance, management fees, insurance and property taxes, and Landlord
has agreed to accept such termination; WHEREAS, Landlord and Tenant desire to
amend the Lease to reflect their agreement.
NOW THEREFORE, for good, valuable and sufficient consideration received,
Landlord and Tenant hereby agree as follows:
1. The Lease is hereby amended to provide that it is terminated solely
as it relates to the property described as the "Termination Space" on Exhibit A
and as described above, as of January 31, 2003, provided that:
i) Tenant shall forfeit the Three Hundred Seventy Four Thousand
Seven Hundred and Sixty Five and No/100 Dollars ($374,765.00)
Tenant Improvement Allowance for Interior Improvements as
described in Exhibit "C" of the Lease;
ii) Tenant shall forfeit the Three Hundred Thousand and No/100
Dollars ($300,00.00) Exterior Renovation Allowance as provided
in Exhibit "C" of the Lease; and.
iii) Upon mutual consent and execution of this Agreement by Landlord
and Tenant, Tenant shall pay in cash to Landlord Seven Hundred
Eight Four Hundred Ninety and 02/100 Dollars ($708,490.02).
1
2. The "Premises" shall be amended to reflect the revised square footage of
75,445 total square feet as of February 1, 2003.
3. The Base Rent for all of the Premises commencing February 1, 2003, shall
be:
FOR THE CURRENT XXXXXX 3 PREMISES (18,330 SQUARE FEET)
------------------------------------------------------------------------------
MONTHS BASE RENTAL RATE TOTAL MONTHLY RENT
PSF/MO.
------------------------------------------------------------------------------
FEBRUARY 1, 2003 - JUNE 30, 2003 $0.80 $14,664.00
------------------------------------------------------------------------------
JULY, 1, 2003 - APRIL 30, 2005 $0.85 $15,580.50
------------------------------------------------------------------------------
FOR THE CURRENT XXXXXX 4 PREMISES (12,737 SQUARE FEET)
------------------------------------------------------------------------------
MONTHS BASE RENTAL RATE TOTAL MONTHLY RENT
PSF/MO.
------------------------------------------------------------------------------
FEBRUARY 1, 2003 - APRIL 30, 2005 $0.85 $10,826.45
------------------------------------------------------------------------------
FOR THE CURRENT XXXXXX 5 PREMISES (20,112 SQUARE FEET)
------------------------------------------------------------------------------
MONTHS BASE RENTAL RATE TOTAL MONTHLY RENT
PSF/MO.
------------------------------------------------------------------------------
FEBRUARY 1, 2003 - APRIL 30, 2005 $0.85 $17,103.70
------------------------------------------------------------------------------
FOR THE XXXXXX 5 EXPANSION SPACE (24,256 SQUARE FEET)
------------------------------------------------------------------------------
MONTHS BASE RENTAL RATE TOTAL MONTHLY RENT
PSF/MO.
------------------------------------------------------------------------------
FEBRUARY 1, 2003 - APRIL 30, 2005 $0.85 $20,617.60
------------------------------------------------------------------------------
FOR ALL THE PREMISES BEGINNING MAY 1, 2005 (75,445 SQUARE FEET)
------------------------------------------------------------------------------
MONTHS BASE RENTAL RATE TOTAL MONTHLY RENT
PSF/MO.
------------------------------------------------------------------------------
MAY 1, 2005 - APRIL 30, 2007 $0.89 $67,146.05
------------------------------------------------------------------------------
MAY 1, 2007 - APRIL 30, 2009 $0.92 $69,409.40
------------------------------------------------------------------------------
MAY 1, 2009 - APRIL 30, 2010 $0.96 $72,427.20
------------------------------------------------------------------------------
4. The Lease is hereby amended in all respects necessary to confirm that
Tenant's responsibility for its "Proportionate Share" of the costs and
expenses described in Section 2(C) of the Lease shall be fairly and
appropriately prorated for the current year such that Tenant's
"Proportionate Share" of such costs accruing prior to February 1, 2003
shall be calculated based upon the square footage of the Premises
immediately prior to the reduction in space effectuated by this
Amendment and Tenant's "Proportionate Share" of such costs accruing from
and after February 1, 2003 shall be calculated based upon the square
footage of the Premises immediately after the reduction in space
effectuated by this Amendment.
5. Landlord and Tenant each hereby release the other from any and all
claims relating to the portion of the Lease Premises described on the
attached Exhibit A.
6. Except as hereby amended, the Lease is ratified and confirmed.
2
IN WITNESS WHEREOF, Landlord and Tenant have executed this Agreement in multiple
counterparts, each of which will have the force and effect of an original this
27th day of January, 2003.
Tenant: Landlord:
LUMINEX CORPORATION: XXXXXX 4 & 5 INVESTORS LP, A DELAWARE
LIMITED PARTNERSHIP:
By: Trumbull Five LLC, a Delaware
limited liability company, its
general partner
By: UBS Realty Investors LLC, a
Massachusetts limited liability
company, its Manager
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxxxxxx
------------------------------ -----------------------------
Name: Xxxxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxxx
------------------------------ ---------------------------
Title: Acting Chief Financial Officer Title: Director
------------------------------ --------------------------
3
EXHIBIT "A"
BUILDING: XXXXXX #4
LEGAL DESCRIPTION: XXX 00, XXXXXX XXXX COMMERCIAL DIVISION
SECTION 2
ADDRESS: 00000 XXXXXXXXXX XXXX.
XXXXXX, XXXXX 00000
(XXX)
4
