Exhibit 10.14
Second Amendment to Lease
SECOND AMENDMENT TO LEASE
The Second Amendment to Lease is made this 21/st/ day of March, 2003 by and
between PMP Whitemarsh Associates, a Pennsylvania Limited Partnership,
(hereinafter referred to as "Landlord") and Lithium Technology Corporation,
(hereinafter referred to as "Tenant").
WHEREAS, Landlord and Hope Technologies, Inc., did enter into a Lease
Agreement and Addendum hereinafter referred to as the "Lease" thereto dated July
22, 1994 for the use and occupancy of Certain Premises known as 0000 Xxxxxx
Xxxxx, Xxxxxxxx Xxxxxxx, Xxxxxxxxxxxx, (hereinafter referred to as the
"Premises"); and
WHEREAS, Lithium Technology Corporation did become the successor to Hope
Technologies, Inc.; and
WHEREAS, Landlord and Tenant have by letter agreements, dated May 4, 1999,
September 14, 1999, February 3, 2000 and December 22, 2000 extended the term of
the Lease Agreement; and
WHEREAS, Landlord and Tenant did enter into a First Amendment to Lease
dated March 19, 2001; and
WHEREAS, that First Amendment to the Lease will terminate on March 31,
2003; and
WHEREAS, Tenant has advised Landlord that it wishes to renew the lease for
only a one (1) year period; and
WHEREAS, the Landlord is willing to grant such renewal; and
WHEREAS, Landlord and Tenant do hereby intend to amend and modify the Lease
Agreement and addendum; and
NOW THEREFORE, in consideration of the mutual covenants, conditions,
understanding, agreements, representations and other good and valuable
consideration the receipt and sufficiency of which is hereby acknowledged, the
parties hereto, with the intent of being legally bound hereby agree as follows:
1. TERM
The term of the lease shall be extended for a period of one (1) years
commencing on April 1, 2003 and ending on March 31, 2004. The minimum annual
rent, which will increase during this renewal shall be as follows in paragraph
2.
2. RENT
The minimum amount rent for the premises shall be:
Base Month Base Annual
a. 1/st/ Year 11.70 per square foot $11,934.00 $143,208.00
3. OPTION
The Landlord and the Tenant agree that there shall be no option to
extend the term of the lease as set forth in paragraph 1 above, unless it is
extended in writing by mutual agreement of the parties.
4. RENT PAYMENT AND NOTICES
Wherever in the Lease Agreement, addendum, or any amendments thereto,
reference is made to Tenant, such reference shall be to the present Tenant,
Lithium Technology Corporation. Further, whenever in the Lease Agreement on any
amendments thereto, it shall be required or permitted that notice or demand is
given or served by either party to this Lease to or on the other party, such
notice on demand shall be deemed to have been duly given or served or forwarded
by Registered Mail, postage prepaid or by a nationally recognized overnight
courier system and addressed as follows:
to Landlord: with a copy to:
PMP WHITEMARSH ASSOCIATES XXXXXXX X. XXXXXX, ESQUIRE
P.O. BOX 000 XXXXXX & XXXXXX
XXXXXXX XXXXXX, XX 00000-0000 XXXXX 000, 000 XXXXXXX XXXXX
ATTN: XXXXXXX X. XXXXXX XXXX XXXX, XX 00000
to Tenant:
LITHIUM TECHNOLOGY CORPORATION
0000 XXXXXX XXXXX
XXXXXXXX XXXXXXX, XX
ATTN: XXXXX XXXX
5. EXECUTION OF DOCUMENT
Tenant agrees that should it be acquired or merged into another
business that it will cause to be executed, any documents which Landlord
reasonably requires to confirm the Leased Agreement and any Amendment thereto.
6. RATIFICATION OF LEASE AGREEMENT
Except as expressly amended herein, all terms and conditions in the
Lease Agreement, as amended, shall remain in full force and effect without
change or modification and all such terms are hereby ratified and confirmed.
"LANDLORD" "TENANT"
PMP WHITEMARSH ASSOCIATES LITHIUM TECHNOLOGY CORPORATION
BY: /s/ Xxxxxxx X. Xxxxxx BY: /s/ Xxxxx Xxxx
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XXXXXXX X. XXXXXX Chairman & CEO ,TITLE
WITNESSETH: __________________ ATTEST: /s/ Xxxxxxxx Xxxxxxx
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