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Exhibit 10.30
LEASE MODIFICATION AGREEMENT
AGREEMENT
made this 8th day of December 1997 between JOSEPH P. DAY
REALTY CORP., as agent for 800 Third Avenue Associates
(“Owner”), 9 East 40th Street, New York, New York
10016 and ASSET ALLIANCE CORPORATION (“Tenant”),
800 Third Avenue, New York, New York 10022;
WITNESSETH:
WHEREAS,
the parties are Owner and Tenant respectively under lease
dated September 12, 1996 (the “Lease”)
covering a portion of the 16th Floor (the “16th Floor
Space”) at 800 Third Avenue, New York, New York (the
“Building”); and
WHEREAS,
Tenant wishes to move to larger space on another floor of the
Building;
NOW,
THEREFORE, the parties agree as follows:
1.
Owner
hereby leases to Tenant and Tenant hereby leases from Owner
the entire 22nd Floor (the “22nd Floor Space”) in
the Building for a term to commence on the date (the
“22nd Floor Commencement Date”) five days after
Owner has completed Owner’s work in the 22nd Floor Space
referred to in paragraph 4 below to Tenant’s reasonable
satisfaction and to end on the last day of the month in which
occurs the date ten years after the Commencement Date, at an
annual rental rate (in lieu of the amount set forth on page 1
of the Lease) of $376,600 per annum.
2.
Except
to the extent otherwise provided in this Agreement, (i) from
and after the 22nd Floor Commencement Date, the 22nd Floor
Space, shall for all purposes of the Lease constitute part of
the demised premises under the Lease, and (ii) Owner and
Tenant agree that all the terms, covenants and conditions of
the Lease shall apply to the leasing of the 22nd Floor
Space.
3.
On
execution of this Agreement, Tenant agrees to deposit the sum
of $44,350.90 as security to be held under Articles 34 and 48
of the Lease in addition to the security presently held by
Owner.
4.
Owner
agrees, at Owner’s cost and expense, to do the work in
the 22nd Floor Space set forth in the Workletter attached
hereto at a cost not to exceed $376,600. Article 71 shall
apply to such work in the 22nd Floor Space.
5.
Tenant
agrees that the term of the Lease with respect to the 16th
Floor Space shall end on the 22nd Floor Commencement Date, as
if such date was the date set forth in the lease for the end
of the term with respect to the 16th Floor Space. Each party
releases any claim it may have against the other for rent or
escalations for the 16th Floor Space for the period ending on
the date of this Agreement. Owner agrees it will not assert
any claim against Tenant for repairs and restoration of the
16th Floor Space by reason of any damage to the 16th Floor
Space arising in connection with Tenant’s move to the
22nd Floor Space.
6.
Commencing
on the 22nd Floor Commencement Date,
(a)
Tenant
shall pay real estate tax escalation for the 22nd Floor Space
pursuant to Article 39 of the Lease; the “Base
Tax” shall mean Taxes, as finally determined by
settlement, court decision or otherwise, for the fiscal Tax
Year ending June 30, 1998; Tenant’s share for the 22nd
Floor Space shall be 2.285%;
(b)
Tenant
shall pay wage formula increase for the 22nd Floor Space
pursuant to Article 40 of the Lease; the Wage Rate Multiple
for the 22nd Floor Space shall be 10,760; the “Base
Labor Rate” for the 22nd Floor Space shall be the Labor
Rate at December 31, 1998;
(c)
in
the event Owner exercises Owner’s option pursuant to
Article 41 of the Lease, Tenant shall pay operating expense
escalation for the 22nd Floor Space pursuant to Article 41 of
the Lease; the “Base Year” referred to therein
shall be 1998; the percentage referred to therein shall be
2.285%;
(d)
Tenant
shall pay Heating Costs escalation for the 22nd Floor Space
pursuant to Article 42 of the Lease; the percentage referred
to therein shall be 2.285%;
(e)
Tenant
shall pay Local Laws escalation for the 22nd Floor Space
pursuant to Article 43 of the Lease; the percentage referred
to therein shall be 2.285%;
(f)
Owner
shall furnish electricity for the 22nd Floor Space pursuant to
Article 66 of the Lease; pending an electrical survey, the
Electrical Inclusion Factor for the 22nd Floor Space shall be
$31,742 per annum; the annual rental referred to in paragraph
1 above shall be increased by the Electrical Inclusion Factor
making a total annual rental of $408,342 per a
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