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Exhibit 10.2
CANCELLATION AGREEMENT
THIS AGREEMENT made this 30 day of APRIL, 1997 between THE
ARSENAL COMPANY LLC (formerly THE ARSENAL COMPANY) hereinafter referred to as
the Landlord, and NORTON XXXXXXXXXX OF XXXXXX, INC. hereafter referred to as the
Tenant.
W I T N E S S E T H:
WHEREAS, the Landlord is the Owner of the building known as
000 XXXXXXX XXXXXX in the Borough of Manhattan, City and State of New York, in
which building the Tenant occupies premises designated as the entire rentable
area of the FIFTH (5TH) FLOOR pursuant to a lease dated February 1, 1995,
between the Landlord and the Tenant, for a term commencing FEBRUARY 1, 1995 and
ending JULY 31, 2008; and
WHEREAS, the parties hereto have mutually agreed to cancel and
terminate the said lease upon the terms and conditions hereinafter set forth,
and
NOW THEREFORE, the parties hereto agree as follows:
1. Upon the execution of the within Agreement, the said lease
is hereby canceled and terminated and the Tenant hereby surrenders possession of
the demised premises to the Landlord, broom-clean, in good order and condition.
2. In consideration of the within cancellation of the lease,
the Tenant agrees to pay to the Landlord the sum of $224,750., which sum shall
be payable upon the execution of this Agreement.
3. This Agreement shall not become effective unless and until
the same has been duly executed by both the Landlord and the Tenant and
delivered to the Tenant.
IN WITNESS WHEREOF, the parties hereto have hereunto set their
respective hands and seals the day and year first above written.
Witness for Landlord: THE ARSENAL COMPANY LLC
______________________ BY:________________________________
Witness for Tenant: NORTON XXXXXXXXXX OF XXXXXX, INC.
______________________ BY:________________________________
