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EXHIBIT 10.15.2
AMENDMENT TO LEASE
1. PARTIES.
This Amendment dated as of May 28, 1996, is between Andover Xxxxx
Realty Limited Partnership ("Landlord") and PictureTel Corporation
("Tenant").
2. RECITALS.
2.1 Landlord and Tenant have entered into a Lease, dated February
10, 1994, as amended, for space at Brickstone Square in
Andover, Massachusetts (the "Lease"). Unless otherwise
defined, terms used in the Amendment have the same meanings as
those used in the Lease.
2.2 Tenant wants to lease space on the fourth (4th) floor of the
Building (the "New Space"), which is depicted in Exhibit "BBB"
attached hereto and incorporated herein by this reference, and
is agreed to contain 29,979 square feet of rentable area. To
accomplish these and other matters, for Ten and NO/100 dollars
($10.00) and other good valuable consideration, the receipt
and sufficiency of which is acknowledged, the parties agree
and the Lease is amended as follows, notwithstanding in the
Lease anything to the contrary:
3. AMENDMENTS.
3.1 "New Space Term" means the period starting on June 1, 1996,
and ending on the earliest of: June 30, 1999; the termination
of the Lease in accordance with its terms; or the termination
of the Lease with respect to the New Space in accordance with
the terms of this Amendment. Provided that all existing leases
of any portion of the New Space have terminated and all
existing tenants have vacated and surrendered possession of
those areas, Tenant may have access to the New Space before
the beginning of the "New Space Term" for the purpose of
performing Tenant Improvements. Beginning as of the date of
the first such entry by Tenant or its contractors or
personnel, all of the terms of the Lease will apply with
respect to the New Space and such entry and activities
thereon, except for Tenant's obligation to pay base rent,
Taxes and Operating Costs, which will begin as of the
beginning of the New Space Term as described below.
During the New Space Term: Tenant will lease, and the Premises
subject to the Lease will deemed to include, the New Space;
the base rent payable for the New Space will be $7.50 per
annum per square foot of agreed rentable area in the New Space
(i.e., $224,842.50 per annum), payable monthly in the same
manner and at the same times as the base rent for the rest of
the Premises; and Tenant will pay 3.19% of Taxes and Operating
Costs (and its pro rata share of Building Operating Costs
based on the rentable area of the New Space per Section 7.3 of
the Lease) allocable to the New Space Term without any
reference to or credit or
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deduction for "Base Year Taxes" or "Base Year Operating
Costs," in addition to its share of Taxes and Operating Costs
for the rest of the Premises.
3.2 Provided Tenant is not then in default (and has not committed
acts or omissions which with the giving of notice or the
passage to time would constitute a default), Tenant may
terminate the Lease with respect to the New Space effective as
of September 1, 1997, or October 1, 1997, or November 1, 1997,
in each case on at least four (4) months' prior written notice
to Landlord.
3.3 On or before the termination date of the Lease with respect to
the New Space, Tenant will vacate and surrender the New Space,
remove all of its personal property, repair any damage caused
by Tenant to the New Space and return the New Space to a
condition at least as good as the condition it was in as of
the date hereof.
3.4 Except as specifically set forth in this Section 3.4, Landlord
will not be required to pay for or perform any work to or for
the benefit of the New Space, and any required work and any
certificates of occupancy or other approval required for
occupancy of the New Space (if any) shall be Tenant's sole
responsibility and cost, and Tenant will indemnify, defend and
hold Landlord and its Affiliates harmless from all costs,
claims, liabilities and obligations (including, without
limitation, attorney's fees and costs) in connections with
obtaining or failing to obtain such certificates or other
approvals and for any acts or omissions by Tenant or its
contractors or subcontractors in connection with such work.
Within thirty (30) days after Tenant takes occupancy of the
New Space and pays its first month's rent for the New Space,
Landlord will pay to Tenant $29,979 as a tenant allowance for
work to be performed by Tenant in and for the New Space.
3.5 The parties confirm that the Amendment between Tenant and
Landlord as of October 19, 1995, pursuant to which Tenant now
leases a portion of the New Space, was extended through May
31, 1996, when it will expire and be completely superseded by
this Amendment.
4. NO OTHER CHANGES.
The Lease is in full force and effect, and except as set forth above
the Lease remains unchanged.
IN WITNESS WHEREOF, intending to be legally bound, the parties have executed
this Amendment under seal as of the date first set forth above.
PICTURETEL CORPORATION
WITNESS: _____________________________ By: ______________________________
Name Printed: Xxxxxx X. Xxxx Name: Xxxxxxxx X. Xxxxxxxxx
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Title: Vice President
Authorized Signatory
ANDOVER XXXXX REALTY LIMITED
PARTNERSHIP, a Massachusetts
limited partnership
WITNESS: _____________________________ By: Niuna-Andover, Inc.,
Name Printed: Xxxxxxx Xxxxxx a general partner
By: ______________________________
Name: Xxxxxx Xxxxxx
Title: Vice President
Authorized Signatory
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