Exhibit 10.29
THIRD AMENDMENT TO LEASE
This Third Amendment to Lease (this "Third Amendment") is entered into
this 30th day of December, 2002 by and between BRIDGEPOINT PROPERTY TRUST, a
Maryland real estate investment trust ("Landlord"), and CONCERO GROUP, L.P., a
Texas limited partnership ("Tenant").
W I T N E S S E T H:
WHEREAS, Investors Life Insurance Company of North America ("Original
Landlord") and PSW Technologies, Inc. ("Original Tenant") entered into that
certain Bridgepoint Lease Agreement dated October 31, 1996, as amended by
Amendment to Bridgepoint Lease Agreement, dated September 30, 1997, and that
certain Second Amendment to Lease, dated as of July 19, 2002 (as so amended, the
"Lease") for certain premises located at 0000 Xxxxxxxxxxx Xxxxxxx, Xxxxxx,
Xxxxx, as more particularly described in the Lease (the "Premises"); and
WHEREAS, Tenant succeeded to the interest of Original Tenant under the
Lease and Landlord has succeeded to the interest of Original Landlord under the
Lease; and
WHEREAS, Tenant desires to amend the Lease to reduce the Premises, subject
to and upon the terms and conditions hereinafter provided, and Landlord is
willing to agree to such reduction of the Premises provided Tenant shall pay
$150,000.00 to Landlord.
NOW, THEREFORE, in consideration of payment to Landlord by Tenant in the
amount of One Hundred Fifty Thousand Dollars ($150,000.00), the receipt and
legal sufficiency of which are hereby acknowledged, Landlord and Tenant agree as
follows:
1. Capitalized terms used and not otherwise defined herein shall have the
meanings ascribed to such terms in the Lease.
2. Landlord and Tenant agree that effective as of January 2, 2003, the
Premises shall be reduced by 4,672 rentable square feet located on the 2nd floor
of Building Three and known as Suite 205, and the term Premises as used in the
Lease shall thereafter be deemed to exclude Suite 205. Tenant shall vacate Suite
205 on or before January 1, 2003 and surrender the same to Landlord in broom
clean condition and free of Tenant's personal property.
3. The definition of "Premises" set forth in Section 1.01 of the Lease is
hereby amended to reflect that for the period commencing January 2, 2003 and
expiring July 31, 2007, the Premises shall consist of approximately 11,072
rentable square feet consisting of Xxxxx 000-0 located in One Bridgepoint
Square.
4. Effective as of January 2, 2003, Tenant hereby surrenders its right of
possession of the Premises in consideration of Landlord releasing Tenant from
its obligations to maintain insurance pursuant to Section 7.02 of the Lease.
Notwithstanding the foregoing, if and for so long as Tenant shall provide and
give Landlord evidence that it shall carry insurance pursuant to Section 7.02 of
the Lease, Tenant's right to possession of the Premises shall be restored and if
Tenant shall enter into a sublease for all or any portion of the Premises which
sublease and subtenant Landlord shall approve, then Tenant's right of possession
with respect to the portion of the Premises demised by such sublease shall be
reinstated so long as Tenant shall otherwise be in compliance with its
obligations under the Lease and the subtenant under such approved sublease shall
maintain insurance (with respect to such subtenant and/or the subleased
premises, as applicable) as required to be carried by Tenant pursuant to Section
7.02 of the Lease.
5. The definition of "Base Rent" set forth in Section 3.01 of the Lease is
hereby amended to reflect that from and after January 2, 2003, Tenant shall pay
Base Rent in accordance with the following schedule:
Dates Rent Per Sq. Ft. Base Rent Monthly Payment
---------------- ------------------ --------------- -----------------
1/2/03 - 6/30/03 $11.00 $121,792.00 $10,149.33
7/1/03 -6/30/04 $11.50 $127,328.00 $10,610.67
7/1/04 - 6/30/05 $12.00 $132,864.00 $11,072.00
7/1/05 - 6/30/06 $12.50 $138,400.00 $11,533.33
7/1/06 - 6/30/07 $13.00 $143,936.00 $11,994.67
7/1/07 - 7/31/07 $13.50 $149,472.00 $12,456.00
6. The definition of "Tenant's Pro Rata Share" set forth in Section 3.02
is hereby amended to reflect that for the period commencing January 2, 2003 and
Tenant's Pro Rata Share shall be 13.07% of One Bridgepoint.
7. Landlord and Tenant agree that from and after January 1, 2003, Tenant
shall pay Operating Expenses on a so-called "triple net" basis, and therefore
from and after such date the Annual Rent Adjustment shall be the amount equal to
Tenant's Pro Rata Share multiplied by the Actual Operating Expenses.
8. Tenant warrants and represents that it has dealt with no broker in
connection with the consummation of this Third Amendment other than Xxx Xxx,
whose commission shall be paid by Tenant. In the event of any brokerage claims
or liens against Landlord or the Property by Xxx Xxx or any other broker
predicated upon or arising out of prior dealings with Tenant, Tenant agrees to
defend the same and indemnify and hold Landlord harmless against any such claim,
and to discharge any such lien. Landlord shall be responsible for any commission
due to Xxxxxx Company arising out of a lease of Suite 205 to Infoglide Software
Corporation.
9. Tenant acknowledges that the Declaration of Trust of Bridgepoint
Property Trust provides, and Tenant agrees, that no trustee, officer, director,
general or limited partner, member, shareholder, beneficiary, employee or agent
of Landlord (including any person or entity from time to time engaged to
supervise and/or manage the operation of Landlord) shall be held to any
liability, jointly or severally, for any debt, claim, demand, judgment, decree,
liability or obligation of any kind (in tort, contract or otherwise) of, against
or with respect to Landlord or arising out of any action taken or omitted for or
on behalf of Landlord.
10. As amended hereby, the Lease is hereby ratified and confirmed.
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IN WITNESS WHEREOF, Landlord and Tenant have executed this Third Amendment
as of the date above first written.
LANDLORD:
BRIDGEPOINT PROPERTY TRUST
By: /s/ Xxxxxxxx X. Xxxxx
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Xxxxxxxx X. Xxxxx
Senior Vice President
TENANT:
CONCERO GROUP, L.P.
By: Concero GP, LLC, its general partner
By: /s/ Xxxxx Xxxxxxxx
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Xxxxx Xxxxxxxx
Treasurer
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