EXHIBIT 10.15.2
FIRST AMENDMENT TO LEASE
This FIRST AMENDMENT TO LEASE (this "First Amendment") is made this 6th
day of June, 2003, by and between TEACHERS INSURANCE & ANNUITY ASSOCIATION OF
AMERICA, INC., a New York corporation ("Landlord") and NEAH POWER SYSTEMS, INC.,
a Washington corporation ("Tenant").
RECITALS
Landlord is the landlord and Tenant is the tenant under that certain
Lease dated March 5, 2001 (the "Initial Lease"), for premises located at 00000
00xx Xxxxxx XX, Xxxxxxx, Xxxxxxxxxx 00000, Building G, Unit 142 (the "Initial
Premises"). As used herein the "Amended Lease" shall mean the Initial Lease as
modified by the First Amendment and the "Lease" shall mean the Amended Lease.
The parties desire to amend the Lease to add expansion premises located
at 00000 00xx Xxxxxx XX, Xxxxxxx, Xxxxxxxxxx 00000, Building H, Unit 161 (the
"Expansion Premises") and to make certain other modifications all as more fully
set forth herein.
Except as otherwise specifically defined herein all capitalized terms
shall have the meanings assigned in the Amended Lease.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the parties hereto
agree as follows:
1. This First Amendment shall be effective on July 1, 2003 (the "First
Amendment Effective Date").
2. On the First Amendment Effective Date there shall be added to the
Initial Premises the Expansion Premises, consisting of an agreed 2,016 rentable
square feet as shown in Exhibit A-1. From and after the First Amendment
Effective Date, the term "Premises" as used in the Lease shall include both the
Initial Premises and the Expansion Premises and shall consist of an agreed 8,069
Rentable Square Feet, and Tenant's Share shall be recalculated to reflect the
increased Rentable Square Footage of the Premises.
3. From and after the First Amendment Effective Date, the Base Monthly
Rent for the Expansion Premises shall be as follows:
Commencement Date - Month 12 $2,097.00
Month 13 - Month 24 $2,200.00
Month 25 - Month 38 $2,339.00
4. From and after the First Amendment Effective Date, the
Security Deposit and Cleaning Fee pursuant to Sections 1 j and 6 of the
Lease shall be as follows:
j. SECURITY DEPOSIT: $13,597.00*
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NON-REFUNDABLE CLEANING FEE:$603.00* *
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*of which $10 593.00 has been previously deposited with Landlord
** of which$303.00 has been previously deposited with Landlord.
All other terms and conditions of the above described Lease shall
remain in full force and effect.
Landlord: Teachers Insurance & Annuity Association of
America, Inc., a New York corporation
By: /s/ Xxxxx Xxxxxxxx
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Xxxxx Xxxxxxxx
Its: Assistant Secretary
Tenant: Neah Power Systems, Inc., a Washington corporation
By: /s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
Its: President
