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Exhibit 10.1
LEASE AMENDMENT
HAVERFORD-HATHAWAY, L.L.C., c/o SMC Management Corp., Xxx Xxxxxxx Xxxxxx,
Xxxxx 000, Xxxxxxxxxx, Xxx Xxxxxxxxx 00000 ("Lessor") and Summa Four, Inc. 00
Xxxxxxx Xxxxxx, Xxxxxxxxxx, Xxx Xxxxxxxxx 00000 ("Lessee"), are parties to a
certain Lease Agreement dated July 18, 1990 (the "Lease").
WHEREAS, the Lessor and Lessee have from time to time amended the Lease and
most recently amended it on August 23, 1995 (the "August 23, 1995 Amendment");
WHEREAS, the August 23, 1995 Amendment extended the term of the Lease until
August 31, 1998;
WHEREAS, the Lessee presently leases a total of 70,554 rentable square feet
(RSF);
WHEREAS, the parties also desire, inter alia, to extend the term of the
Lease and to change the Lease rate;
NOW, THEREFORE, in consideration of the mutual covenants contained herein
the Lessor and Lessee agree as follows:
1. The term of the Lease shall be until August 31, 2003.
3. The lease rate for the entire 70,554 RSF shall be as follows:
Period Base Rent Annual Rate Monthly Rate
------ --------- ----------- ------------
9/1/98 - 3/31/99 $5.00 NNN $352,770.00 $29,397.50
4/1/99 - 8/31/99 $5.25 NNN $370,408.50 $30,867.37
9/1/99 - 8/31/00 $5.50 NNN $388,047.00 $32,337.25
9/1/00 - 8/31/01 $5.75 NNN $405,685.50 $33,807.12
9/1/01 - 8/31/02 $6.00 NNN $423,324.00 $35,277.00
9/1/02 - 8/31/03 $6.25 NNN $440,962.50 $36,746.87
4. Lessee shall be responsible for its full proportionate share of
operating expenses (estimated at $2.75 RSF for 1998) and real estate taxes
(estimated at $.70 RSF for 1998) which shall be in addition to the base rent.
5. Lessee shall be responsible for payment of its separately metered
electric and gas utilities.
6. Lessee shall have the option of terminating the Lease on February 28,
2002 ("Early Termination") by providing to Lessor written notice of its intent
to terminate the Lease. The written notice shall be given to Lessor not sooner
than May 1, 2001, but not
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later than May 31,2001. Failure to provide said notice at the time set forth
herein shall void Lessee's right to Early Termination and the term of the Lease
shall be unchanged (i.e. until 8/31/2003).
7. Lessor, at its expense, shall undertake the following improvements in a
manner and at times which will not unreasonably interfere with Lessee's business
operation:
* Replacement of carpeting in the 5th floor executive area at a
cost of up to $7,000.00.
* Installation of adequate space heater in shipping/loading area at
a cost of up to $3,000.00.
* Provide same level access to bathroom for employees in
shipping/loading area at a cost not to exceed $3,000.00.
* Lessor will make its best effort to correct water leakage problem
around windows, particularly those on the 5th floor.
8. Lessor's agent shall pay a total of $16,000.00 to Lessee's real estate
consulting team (consisting of the Xxxxxxx Group, Corporate Facilities Group,
Facility Planning and Management).
9. All other terms and conditions of the Lease and Amendments not modified
herein shall remain in full force and effect.
LESSOR:
HAVERFORD - HATHAWAY, L.L.C.
SMC MANAGEMENT CORP., AGENT
/s/ Xxxxxx X. illegible /s/ Xxxxxx X. Xxxxxxxxx
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Witness By: Xxxxxx X. Xxxxxxxxx
Its: Vice President
Duly Authorized
LESSEE:
SUMMA FOUR, INC.
/s/ illegible /s/ Xxxxxxx X. Xxxxx
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Witness By: Xxxxxxx X. Xxxxx
Its: VP Finance and CFO
Duly Authorized
