Exhibit 10.18
AMENDMENT NO. 1
TO LEASE
THIS AMENDMENT
NO. 1 is made and entered into this 18th day of July, 2001, by and
between JOHN ARRILLAGA, Trustee, or his Successor Trustee UTA dated
7/20/77 (JOHN ARRILLAGA SURVIVOR'S TRUST) (previously known as the
"Arrillaga Family Trust") as amended, and RICHARD T. PEERY,
Trustee, or his Successor Trustee UTA dated 7/20/77
(RICHARD T. PEERY SEPARATE PROPERTY TRUST) as amended,
collectively as LANDLORD, and SYNOPSYS, INC., a Delaware
corporation, as TENANT.
RECITALS
A. WHEREAS,
by Lease Agreement dated August 24, 1995 Landlord leased to
Tenant all of that certain 85,000+/- square foot building located
at 1101 West Maude Avenue, Mountain View, California, the
details of which are more particularly set forth in said
August 24, 1995 Lease Agreement, and
B. WHEREAS,
it is now the desire of the parties hereto to amend the Lease by:
(i) extending the Term for twelve years, thereby changing the
Termination Date from February 28, 2003 to February 28,
2015, (ii) amending the Basic Rent schedule and Aggregate Rent
accordingly, (iii) increasing the Security Deposit required
under the Lease, (iv) amending the Management Fee charged to
Tenant, (vii) replacing Lease Paragraphs 12 ("Property
Insurance") and 31 ("Notices"), (viii) amending Lease
Paragraphs 5 ("Acceptance and Surrender of Premises"), 6
("Alterations and Additions"), 11 ("Tenant's Personal Property
Insurance and Workman's Compensation Insurance") and 21
("Destruction"), (xi) adding a paragraph ("Authority to
Execute"), and (x) deleting Lease Paragraphs 53 ("Two
(2)—Three (3) Year Options to Extend") and 54 ("Tenant's
Option to Terminate Lease") to the Lease Agreement as hereinafter
set forth.
AGREEMENT
NOW THEREFORE,
for valuable consideration, receipt of which is hereby
acknowledged, and in consideration of the hereinafter mutual
promises, the parties hereto do agree as follows:
1.
TERM OF LEASE : It is agreed between the parties that the
Term of said Lease Agreement shall be extended for an additional
twelve (12) year period (the "Extended Term"), and the Lease
Termination Date shall be changed from February 28, 2003 to
February 28, 2015. The Extended Term of the Lease is comprised
of the two three year extensions (which extend the Term to
February 28, 2009) covered under Tenant's Option to Extend
pursuant to Lease Paragraph 53 ("Two Three Year Options to
Extend") and an additional six year extension, which extends the
Term to February 28, 2015 to make the Termination Date of this
Lease co-terminous with the extended term of the Existing Leases as
referenced in Lease Paragraph 47 ("Lease Terms Co-Terminous").
Tenant and Landlord hereby acknowledge Tenant's exercise of said
Options to Extend the Terms of said Lease, and Lease
Paragraph 53 is hereby deleted in its entirety upon the
execution of this Amendment No. 1.
2.
BASIC RENTAL FOR EXTENDED TERM OF LEASE : The monthly Basic
Rental for the Extended Term of Lease shall be as
follows:
On
March 1, 2003, the sum of ONE HUNDRED FORTY THOUSAND TWO
HUNDRED FIFTY AND NO/100 DOLLARS ($140,250.00) shall be due, and a
like sum due on the first day of each month thereafter through and
including February 1, 2004.
On
March 1, 2004, the sum of ONE HUNDRED FORTY FOUR THOUSAND FIVE
HUNDRED AND NO/100 DOLLARS ($144,500.00) shall be due, and a like
sum due on the first day of each month thereafter through and
including February 1, 2005.
On
March 1, 2005, the sum of ONE HUNDRED FORTY EIGHT THOUSAND
SEVEN HUNDRED FIFTY AND NO/100 DOLLARS ($148,750.00) shall be due,
and a like sum due on the first day of each month thereafter
through and including February 1, 2006.
On
March 1, 2006, the sum of ONE HUNDRED FIFTY THREE THOUSAND AND
NO/100 DOLLARS ($153,000.00) shall be due, and a like sum due on
the first day of each month thereafter through and including
February 1, 2007.
On
March 1, 2007, the sum of ONE HUNDRED FIFTY SEVEN THOUSAND TWO
HUNDRED FIFTY AND NO/100 DOLLARS ($157,250.00) shall be due, and a
like sum due on the first day of each month thereafter through and
including February 1, 2008.
On
March 1, 2008, the sum of ONE HUNDRED SIXTY ONE THOUSAND FIVE
HUNDRED AND NO/100 DOLLARS ($161,500.00) shall be due, and a like
sum due on the first day of each month thereafter, through and
including February 1, 2009.
On
March 1, 2009, the sum of TWO HUNDRED SIXTEEN THOUSAND EIGHT
HUNDRED SIXTY TWO AND 67/100 DOLLARS ($216,862.67) shall be due,
and a like sum due on the first day of each month thereafter,
through and including February 1, 2010.
On
March 1, 2010, the sum of TWO HUNDRED TWENTY TWO THOUSAND TWO
HUNDRED EIGHTY FOUR AND 24/100 ($222,284.24) shall be due, and a
like sum due on the first day of each month thereafter, through and
including February l, 2011.
On
March 1, 2011, the sum of TWO HUNDRED TWENTY SEVEN THOUSAND
EIGHT HUNDRED FORTY ONE AND 34/100 DOLLARS ($227,841.34) shall be
due, and a like sum due on the first day of each month thereafter,
through and including February 1, 2012.
On
March 1, 2012, the sum of TWO HUNDRED THIRTY THREE THOUSAND
FIVE HUNDRED THIRTY SEVEN AND 38/100 DOLLARS ($233,537.38) shall be
due, and a like sum due on the first day of each month thereafter,
through and including February 1, 2013.
On
March 1, 2013, the sum of TWO HUNDRED THIRTY NINE THOUSAND
THREE HUNDRED SEVENTY FIVE AND 81/100 DOLLARS ($239,375.81) shall
be due, and a like sum due on the first day of each month
thereafter, through and including February 1, 2014.
On
March 1, 2014, the sum of TWO HUNDRED FORTY FIVE THOUSAND
THREE HUNDRED SIXTY AND 21/100 DOLLARS ($245,360.21) shall be due,
and a like sum due on the first day of each month thereafter,
through and including February 1, 2015.
The Aggregate
Basic Rent for the Lease Term, as extended, shall be increased by
$27,486,139.80 or from $10,633,500.00 to $38,119,639.80.
3.
SECURITY DEPOSIT : Provided Tenant is not in default
(pursuant to Paragraph 19 of the Lease, i.e. Tenant has
received notice and any applicable cure period has expired without
cure) of any of the terms, covenants, and conditions of the Lease
Agreement, the Security Deposit required under the Lease shall
remain $280,500.00. In the event of a Tenant default, Tenant's
Security Deposit shall be increased by $210,220.42, or from
$280,500.00 to $490,720.42 as follows:
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A. By
February 28, 2003 (or within ten (10) days of notice from
Landlord of an uncured default under the Lease if said default
occurs after February 28, 2003), Tenant shall:
(i) provide Landlord with an amended Standby Letter of Credit,
in compliance with the terms of Lease Paragraph 44 ("Security
Deposit Represented by Standby Letter of Credit") in the total
amount of $297,500.00, which amount is the Security Deposit
required under Tenant's First Three Year Option to Extend as stated
in Lease Paragraph 53.A; or (ii) deposit cash in the
amount of $17,000.00.
B. By
February 28, 2006 (or within ten (10) days of notice from
Landlord of an uncured default under the Lease if said default
occurs after February 28, 2006), Tenant shall:
(i) provide Landlord with an amended Standby Letter of Credit,
in compliance with the terms of Lease
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