EXHIBIT 10.22
FIFTH LEASE AMENDMENT
This FIFTH AMENDMENT TO LEASE AGREEMENT (the "FIFTH AMENDMENT") is
entered into this 16th day of January, 2006 by and between WB Partners LLC, a
Connecticut limited liability company (the "LESSOR") and Open Solutions Inc., a
Delaware corporation ("LESSEE").
WITNESSETH
Whereas, Lessee and Lessor's predecessor-in-interest entered into that
certain Lease Agreement dated February 29, 1996, which agreement was amended by
a First Amendment dated January 27, 1998, a Second Amendment dated May 25, 1999,
a Third Amendment dated September 16, 1999 and a Fourth Amendment dated November
29, 2000 (collectively, the "LEASE") for certain premises located at 000 Xxxxxxx
Xxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxxxx, all as more particularly described in the
Lease, and
Whereas, Lessor and Lessee desire further to amend the Lease as
follows:
Now, therefore, for and in consideration of the mutual covenants and
conditions set forth herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee
hereby agree to amend the Lease as follows:
1. The term of the Lease and the Rent payable thereunder are
amended as follows:
a. DATA CENTER: Lessee's right to occupy that portion of
the second floor commonly known as the 'Data Center"
consisting of approximately 3,240 square feet shall
be extended to March 31, 2006 with a total monthly
rent of $7,500 payable as provided in the Lease.
b. DEPOSIT: Lessee shall provide a deposit of $20,000.00
for the cost of returning the Data Center space to
office space. If, on or before March 31, 2006, Lessor
is able to lease the Data Center space to a tenant
who will utilize the Data Center "as-is", then Lessor
shall return the deposit to the Lessee. Otherwise,
the Deposit shall be kept by the Lessor.
c. MOVING DELAY: In addition to the rent payable for the
Data Center, Lessee shall pay rent of $1,311.67 PER
DAY beginning on and including January 7, 2006 and
continuing until the Leased Premises have been
cleared of ALL of the Lessee's property (excluding,
however, any property remaining either in the Data
Center or as provided below) and delivered to Lessor
broom clean in as good order and repair as when
delivered to Lessee (ordinary wear and tear
excepted).
d. FIRST FLOOR SERVER ROOM: Once the Lessee has vacated
the premises as provided above for the Moving Delay,
and in addition to the rent payable for the Data
Center, Lessee shall pay $1,250 per month for the
First Floor Server Room consisting of approximately
416 square feet, payable as provided in the Lease.
The term for the First Floor Server Room shall expire
on March 31, 2006.
e. FIRST FLOOR CONFERENCE ROOM: Once the Lessee has
vacated the premises as provided above for the Moving
Delay, and in addition to the rent payable for the
Data Center and First Floor Server Room, Lessee shall
pay $1,750 per month for the First Floor Conference
Room known as the Xxxxx and Xxxxx Conference Room,
payable as provided in the Lease. The term for the
First Floor Conference Room shall expire on January
31, 2006.
f. ADDITIONAL PARKING: In addition to any other rent
payments, Lessee shall pay Lessor $1,000.00 per month
have the right to permit up to thirty (30) additional
vehicles to park in the parking lot at 000 Xxxxxxx
Xxxxx Xxxxx, Xxxxxxxxxxx, Xxxxxxxxxxx. The right to
the parking shall expire on March 31, 2006.
2. Lessee and Lessor represent that there are no brokers, agents,
commissioned salesperson, or other persons representing Lessee
or Lessor in the negotiation for the procurement of this Lease
and of the Premises and that no commissions, fees or
compensation of any kind are due and payable in connection
herewith to any brokers, agents, commissioned salesperson, or
other persons. Lessee agrees to indemnify and hold Lessor
harmless from all loss, cost and damage (including reasonable
attorney's fees and court costs) suffered or incurred by
Lessor as a result of a breach by Lessee of the representation
made in the immediately preceding sentence or as a result of
Lessee's failure to pay commissions, fees or compensation due
to any brokers, agent, commissioned salesperson, or other
persons who represents Lessee, whether or not disclosed.
3. With the exception of the above, all other terms and
conditions of the Lease remain in effect. The relationship of
the parties is that of Lessee and Lessor.
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4. All capitalized terms used but not defined in this Fifth
Amendment shall have the same meaning as in the Lease.
In witness whereof, the parties have hereunto set their hands the day and year
first written above.
WB Partners, LLC
/s/ Xxxxxxx Xxxxxx
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Xxxxxxx Xxxxxx
Its: Manager
Date: 1/16/06
Open Solutions Inc.
/s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx
Its: EVP & CFO
Date: January 16, 2006
