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EXHIBIT 10.01
THIRD AMENDMENT TO LEASE AGREEMENT
This Third Amendment to Lease Agreement (the "Amendment") is made and entered
into as of May 1, 1998, by and between RND FUNDING COMPANY I, a Delaware
corporation ("Landlord"), and Symantec Corporation, a Delaware corporation
("Tenant"), with reference to the following facts.
RECITALS
A. Xxx Xxxx No. VII, a California general partnership ("Original Landlord")
and Tenant have entered into that certain Lease Agreement dated as of
February 27, 1991 as subsequently amended pursuant to that certain First
Amendment dated as of October 9, 1992 and that Second Amendment dated as of
March 7, 1995, (hereinafter, collectively the "Lease") for the leasing of
certain premises consisting of approximately 78,181 rentable square feet
located at 0000 Xxxxx Xxxx, Xxxxxxxxx, Xxxxxxxxxx (the "Premises") as such
Premises are more fully described in the Lease.
B. In connection with the sale by Original Landlord to Landlord of certain
real property of which the Premises is a part, effective as of September 1,
1997. Original Landlord assigned all its rights, title and interest in, to
and under the Lease to Landlord and Landlord assumed the obligations of
Original Landlord under the Lease to the extent such obligations first
arise and accrue on or after September 1, 1997.
C. Landlord and Tenant now wish to amend the Lease to provide for, among other
things, the extension of the Term of the Lease, all upon and subject to
each of the terms, conditions, and provisions set forth herein. Both
parties acknowledge the Amendment is entered into as of June 17, 1998,
which date is after the effective date of the Amendment.
NOW, THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, Landlord and Tenant agree as follows:
1. Recitals: Landlord and Tenant agree that the above recitals are true
and correct and are hereby incorporated herein as though set forth in
full.
2. Term: The Term of the Lease shall be extended from May 1, 1998 to
April 30, 2000 (the "Extended Term").
3. Base Rent: The Basic Lease Information and Section 4 of the Lease are
hereby modified to provide that during the Extended Term of the Lease
the monthly Base Rent payable by Tenant to Landlord, in accordance
with the provisions of Section 4 of the Lease shall be in accordance
with the following schedule:
Period monthly Base Rent
5/1/1998-4/30/1999 $74,132.30
5/1/1999-4/30/2000 $78,041.35
4. Option to Extend the Term: The parties hereby acknowledge and agree
that Tenant did exercise the Option to Extend the Term of the Lease in
accordance with the terms and conditions set forth in Section 1.2 of
the Second Amendment to Lease Agreement. Tenant further acknowledges
and agrees that the Option to Extend the Lease as set forth in Section
1.2 of the Second Amendment to Lease Agreement is of no further force
and effect, and Tenant does not have any additional rights under the
Lease to further extend the Term of the Lease.
5. Condition of Premises: Tenant acknowledges and agrees that its
possession of the Premises after May 1, 1998 is a continuation of
Tenant's possession of the Premises under the Lease. Tenant is
familiar with the condition of the Premises, and agrees to accept the
Premises in their existing condition "AS IS", without any obligation
of Landlord to remodel, improve or alter the Premises, to perform any
other construction or work of improvement upon the Premises, or to
provide Tenant with any construction or refurbishing allowance.
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6. Brokers: Tenant warrants that it has had no dealing with any real
estate broker or agent in connection with the negotiation of this
Amendment whose commission shall be payable by Landlord. If Tenant
has dealt with any person, real estate broker or agent with respect
to this Amendment, Tenant shall be solely responsible for the
payment of any fee due to said person or firm, and Tenant shall hold
Landlord free and harmless against any liability with respect
thereto, including attorneys' fees and costs.
7. EFFECT OF AMENDMENT: Except as modified herein, the terms and
conditions of the Lease shall remain unmodified and continue in
full force and effect. In the event of any conflict between the
terms and conditions of the Lease and this Amendment, the terms and
conditions of this Amendment shall prevail.
8. DEFINITIONS: Unless otherwise defined in this Amendment, all terms
not defined in this Amendment shall have the meaning set forth in
the Lease.
9. AUTHORITY: Subject to the provisions of the Lease, this Amendment
shall be binding upon and inure to the benefit of the parties
hereto, their respective heirs, legal representatives, successors
and assigns. Each party hereto and the persons signing below
warrant that the person signing below on such party's behalf is
authorized to do so and to bind such party to the terms of this
Amendment.
10. The terms and provisions of the Lease are hereby incorporated in
this Amendment.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and
year first above written.
TENANT:
Symantec Corporation,
a Delaware corporation
By: /s/ X. XXXX III
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Its:
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Date: 8-12-98
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By:
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Its:
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Date:
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LANDLORD:
RND FUNDING COMPANY I,
a Delaware corporation
By:
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Its:
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Date:
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By: LPG MS, Inc.,
As manager and agent for RND FUNDING COMPANY I
By: /s/ XXXXX XX XXXXXXXX
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Senior Vice President
Date:
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