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FOURTH AMENDMENT TO LEASE
LESSOR: ATHENAEUM PROPERTY LLC
LESSEE: BITSTREAM, INC.
DATE OF LEASE: MARCH 17, 1992;
(First Amendment September 7, 1993; Second
Amendment July 14, 1994; Third Amendment June
15, 1996)
PREMISES: ATHENAEUM HOUSE, 000 XXXXX XXXXXX, XXXXXXXXX,
XXXXXXXXXXXXX
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which
are hereby acknowledged, the lease between Athenaeum Property LLC as Lessor and
Bitstream Inc., a Delaware corporation, as Lessee and March 17, 1992, and
amended on September 7, 1993 and by letter agreement on July 14, 1994 and
amended on June 15, 1996), is hereby amended for the forth time effective March
1, 1997, as follows:
1. Expand Leased Premises. Effective June 1, 1997 (the "Effective Date"),
the Leased Premises shall be expanded to include approximately 4,700
rentable square feet ("Expanded Leased Premises"), more or less, on
the ground floor of the Building as shown on Exhibit A
hereto. Lessee agrees it is leasing the Expanded Leased Premises in
its "as is" condition, except that the Expanded Leased Premises shall
be delivered in vacuumed clean condition, free of debris and personal
effects, and all systems to be maintained by Landlord under the lease
shall be in good working order.
2. Increased Rent. The Base Rent for the Leased Premises shall be
increased as of the Effective Date by $70,500.00 per year, calculated
as 4,700 square feet at $15.00 per rentable square feet.
3. Increased Rent Adjustment. As of the Effective Date, the Rent
Adjustment percentage in Paragraph 5 shall be increased from 7.01
percent to 8.66 percent.
4. Term; Option to Extend. The term of the Lease shall remain unchanged.
In the event Lessee exercises its option to extend the lease, the Base
Rent on the Extended Leased Premises shall be at Fair Market Value as
reasonably determined by Lessor but in no event less that the Base
Rent in Paragraph 2 above.
5. Right to Terminate. If, on or before April 1, 1997, the Lessee decides
it does not wish to occupy the Expanded Leased Premises, it shall give
Lessor written notice on or before April 1, 1997 and the expansion
contemplated herein shall be null and void. As
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consideration for this right, Lessee shall, in the event it terminates
this expansion, pay Lessor one month's rent (at the time of its notice
to terminate). Lessor agrees that if the Expanded Leased premises are
then released with less than one month's vacancy, the amount paid by
Lessee will be abated on a pro rata basis for the days the space is
occupied by a new tenant for business.
6. Broker. The Lessor and Lessee each represent and warrant to the other
that each has had no dealings with any Brokers concerning this lease
other than Xxxxxx X. Xxxxx & Co., and each party agrees to indemnify
and hold the other harmless for any damages occasioned to the other by
reason of breach of this representation and warranty.
7. Construction; Interpretation. To the extent this lease amendment
conflicts with the existing lease, this amendment shall control. Both
parties acknowledge the lease remains in full force and effect. Other
than stated in this amendment, all other terms and conditions remain
the same.
EXECUTED as sealed instrument this 3rd day of March 1997.
ATHENAEUM PROPERTY LLC
By:
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President Witness
Athenaeum F.A. Inc.
Managing Member
BITSTREAM INC.
By:
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Vice President, Treasurer Witness
and Chief Financial
Officer Duly Authorized
Assuming the lessee does not terminate this expansion, lessee will retain the
right until the effective date (6-1-97), to require the lessor to terminate
lessee's lease obligation on the 2800 square feet on the ground floor referenced
in the Third Amendment.
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