Exhibit 10.08
FOURTH LEASE AGREEMENT
STATE OF TEXAS
COUNTY OF DALLAS
This Fourth Less. Amendment (this "Amendment") is made and
entered into by and WESTERN ATLAS INTERNATIONAL, INC., a Delaware
Corporation "Landlord". And XXXXXXXXXX LABORATORIES, INC., a Texas
corporation ("Tenant"), effective as of August 31, 1999 (the
"Effective Date") Capitalized Terms used herein and not otherwise
defined shall have the meanings assigned to such terms In the Lease
(hereinafter defined).
WITNESSETH:
WHEREAS. Landlord and Tenant entered into that certain Lease
Agreement dated effective August 30, 1991 (as amended, the "Lease"),
pursuant to which Landlord agreed to lease to Tenant and Tenant agreed
to Lease from Landlord approximately 21.733 square feet of space (the
"Premises") In the building located at 0000 Xxxx Xxxxxxxx Xxxxxxxxx,
Xxxxxx, Xxxxx (the "Building"; and
WHEREAS the Lease was previously amended by that certain First
Lease Amendment between Landlord and Tenant dated April 16, 1992,
Increasing the area of the Premises to approximately 23,284 square
feet of space; and
WHEREAS, the Lease was previously amended by that certain Second
Lease Amendment between Landlord and Tenant dated September 23, 1993,
increasing the areas of the Premises to approximately 24,146 square
feet of space: and
WHEREAS, the Lease was previously amended by that Certain Third
Lease Amendment between Landlord and Tenant dated December 1, 1994,
extending the, term of the Lease to January 31, 2000 and making
certain other changes to the original Lease;
WHEREAS, the Lease currently contains an option to extend the
term for a period of five (5) calendar years from February 1, 2000,
though January 31, 2005 which was recently exercised by Tenant and
WHEREAS, Landlord and Tenant have agreed to amend the Lease to
reduce the length of the renewal term to eighteen (18) months and to
set the amount of Minimum Rent applicable during the renewal term, and
WHEREA, Landlord and Tenant have agreed to make certain other,
changes in the terms and provisions of the Lease as hereafter provided
and desire to execute this Amendment to set forth in writing all such
changes;
NOW, THEREFORE KNOW ALL MEN BY THESE PRESENTS:
THAT, for and in consideration of the premises and of Ten and
No/100 Dollars ($10.00) and other good and valuable consideration paid
by Tenant to Landlord, the receipt and sufficiency of which are hereby
acknowledged, Landlord end tenant do hereby covenant and agree as
follow.:
1. Notwithstanding anything contained in the Lease or Tenant's.
prior election to extend the Lease Term for five (5) years, the Term
of the Lease is hereby amended so that the Lease Term shall end on,
July 31. 2001. Landlord and Tenant hereby agree that Tenant Shall
have no further right to extend the Lease Term beyond July 31, 2001,
and Tenant hereby waives any and all such rights.
2. Minimum Rent for the Premises during period from February 1,
2000, through July 31, 2001, shall be Forty Thousand Two Hundred Forty
and 33/100 Dollars per month.
3. Commencing February 1, 2000, there shall no longer be a "Base
Year" under the Lease and Tenant shall no longer be responsible for
payment of Operating Costs. Accordingly, Section 8 of the Lease is
hereby deleted in its entirety and the Lease is hereby amended to
delete all reference therein to a "Base Year" or "Operating Costs."
4. Section 30 of the Lease is hereby amended by deleting the
phrase 15O% of the monthly rent contained in the fifth line, thereof
and replacing it with the phrase "300% of the monthly rent."
5. During the remainder of the Term, Tenant agrees to use "best
management practices' with respect to the hazardous waste and
hazardous materials that it handles in the Premises, as such term is
used and prescribed by law U.S. Environmental Protection Agency, the
Texas Natural Resources Conservation Commission, the National Fire
Protection Association and the U.S. Occupational Safety and Health
Administration
As hereby expressly amended, the Lease is ratified and confirmed
to be in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment
effective as of the date first set forth above.
WESTERN ATLAS INTERNATIONAL, INC.
By: /s/
-----------------------------
Name: X.X. Xxxxxx
Title: Vice Presldent
XXXXXXXXXX LABORATORIES, INC.
By: /s/
-----------------------------
Name: Xxxxxx X. Xxxxxx, Ph. D.
Title: President & Chief
Executive Officer
