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EXHIBIT 10.1
FOURTH AMENDMENT attached to and made a part of that certain Lease dated
September 10, 1991, between FIRST INDUSTRIAL MORTGAGE PARTNERSHIP, L.P.,
successor in interest to WS Development Company, as Landlord, and SOMANETICS
CORPORATION, as Tenant, covering Premises at 0000 X. Xxxxx Xxxx, Xxxx, Xxxxxxxx.
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NOTWITHSTANDING anything to the contrary contained in the Lease, Agreement,
Addenda to Lease, Termination of Agreement, and Extension of Lease to which this
Fourth Amendment is attached to and made a part thereof, the Landlord and Tenant
agree as follows:
1. The Term of the Lease shall be extended three (3) years, commencing January
1, 2001 and terminating December 31, 2003.
2. The minimum net rent for said extended three (3) year Term shall be Five
Hundred Ninety-Four Thousand One Hundred Eighty-Seven and 80/100 Dollars
($594,187.80) payable in monthly installments in advance as follows:
Months Monthly Base Rent
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1-12 $16,179.47
13-24 $16,503.06
25-36 $16,833.12
3. Landlord, at no cost to Tenant, shall maintain and repair the roof as
Landlord deems necessary for the term of this renewal.
4. Notwithstanding the provisions of Section 1 of this Fourth Amendment to the
contrary, and provided that Tenant is not in material default under this
Lease, if Tenant is acquired by an independent third party at any time
during the three (3) year extension Term contemplated by this Fourth
Amendment, Tenant shall have a single option to terminate the Term of this
Lease by giving written notice to Landlord of such acquisition and
termination election at least sixty (60) days prior to the closing of such
acquisition. If the termination notice is duly given by Tenant, the
termination shall be effective as follows: (i) if the acquisition closing
occurs on or before December 31, 2002, the termination shall be effective
on the later of (1) December 31, 2002, or (2) sixty (60) days after
delivery by Tenant of its acquisition/ termination election notice; and
(ii) if the acquisition closing occurs on or after January 1, 2003, the
termination shall be effective on the later of (1) the date that the
acquisition closing occurs, or (2) sixty (60) days after delivery by Tenant
of its acquisition/termination election notice. For purposes of this
Section 3, Tenant shall be deemed "acquired" if it is a constituent
corporation in a statutory merger, or substantially all of the assets of
Tenant are acquired, or a controlling interest in the voting stock of
Tenant is acquired.
All other terms and conditions of said Lease, Agreement, Addenda to Lease,
Termination of Agreement and Extension of Lease to remain in full force and
effect unless in conflict with the terms and conditions of this Fourth Amendment
shall prevail and control.
LANDLORD:
FIRST INDUSTRIAL MORTGAGE
PARTNERSHIP, L.P., a
Delaware limited
partnership, successor in
interest to WS Development Company
By: First Industrial Mortgage Corporation,
a Maryland corporation
Its: General Partner
/s/ Xxxxxxx X. Xxxxxxxxxx
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By: Xxxxxxx X. Xxxxxxxxxx, Regional Director
TENANT:
SOMANETICS CORPORATION, a Michigan corporation
By: /s/ Xxxxx X. Xxxxxxx
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Dated: April 13, 2000 Its: President & CEO
