Exhibit 10.15
FIRST AMENDMENT OF SUBLEASE
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THIS LEASE AMENDMENT made the 20th day of March, 1996 by and between
WESTINGHOUSE ELECTRIC CORPORATION ("Sublessor") and MASTECH CORPORATION
("Sublessee").
WITNESSETH
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WHEREAS, Sublessor and Sublessee entered into a Sublease Agreement
dated February 10, 1995 ("Sublease") for approximately 21,996 rentable square
feet of office space at 0000 XxXxx Xxxx, Xxxxxxx, Xxxxxxxxxxxx ("subleased
premises"); and
WHEREAS, Sublessor and Sublessee executed a Letter Agreement dated
April 19, 1995 regarding additional equipment to be included in Exhibit C of the
Sublease and the amendment of Sublessee's expansion option set forth in Section
22 of the Sublease; and
WHEREAS, Sublessor and Sublessee desire to amend the Sublease to
increase the subleased premises.
NOW, THEREFORE, the parties hereto intending to be legally bound
hereby agree as follows:
1. Effective March 1, 1996, the subleased premises shall be increased by
approximately 2,815 rentable square feet as shown on Exhibit A attached hereto
and made a part hereof for the remainder of the term of the Sublease, and the
total square feet in the subleased premises, including the above 2,815 rentable
square feet, shall be 24,811 rentable square feet.
2. The total monthly base rental for all of the subleased premises,
including the above increased subleased area shall be as follows:
Period of Time Annual Rent Monthly Rent
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3/1/96 - 5/31/97 $347,354.00 $28,946.17
6/1/97 - 5/31/99 $372,165.00 $31,013.75
6/1/99 - 5/31/200 $396,976.00 $33,081.33
3. Effective March 1, 1996, Sublessee's proportionate share of any (a)
increase or decrease in real estate tax as set forth in Section 6(c) of the
Sublease and (b) increase in operating expenses as set forth in Section 7.(a) of
the Sublease shall be 16.34% which is determined by dividing the total number of
rentable square feet subleased by Sublessee (24,811) by the total number of
rentable square feet in the Premises (151,800).
4. Sublessee shall have the right to use the ten workstations and other
furnishings located in the additional space shown on Exhibit A at the time this
Lease is executed. Sublessee shall have the right, at the end of the initial
term or any renewal term of this Sublease, to remove and retain the ten
workstations in the additional space, provided that, upon removal, Sublessee
shall restore the additional space as required in Section 24 of the Lease.
Title to such workstations shall pass at the end of the initial term, and
Sublessor shall, upon request of Sublessee, deliver such bills of sale or other
instruments (warranting title and otherwise disclaiming all warranties
whatsoever) as Sublessee may require in order to more effectively transfer title
to Sublessee.
5. The following sentence shall be inserted in lieu of the first sentence
of Section 22 of the Sublease (Option to Expand):
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"Sublessee shall have a one-time option exercisable between December
1, 1996 and June 1, 1997 inclusive (the "Option Period") upon written notice to
Sublessor to lease approximately 12,185 rentable square feet located in areas of
the Premises to be designated by Sublessor and accessible by Sublessee through
Common Areas."
6. Except as otherwise set forth herein, all of the terms and conditions
in the Sublease, as amended and modified, shall remain the same.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals
the date first above written.
ATTEST: WESTINGHOUSE ELECTRIC
CORPORATION
__________________________ By:______________________________
Assistant Secretary Vice President
ATTEST: MASTECH CORPORATION
__________________________ By:______________________________
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