Exhibit 10.16
AMENDMENT NO. 3
TO LEASE
THIS AMENDMENT
NO. 3 is made and entered into this l8th 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" and the "John Arrillaga Separate Property
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 June 23, 1993 Landlord leased to Tenant
all of that certain 104,170+/- square foot building located at 700A
East Middlefield Road, Mountain View, California, the details of
which are more particularly set forth in said June 23, 1993
Lease Agreement, and
B. WHEREAS,
said Lease was amended by Amendment No. 1 dated
November 4, 1994 which: (i) acknowledged Tenant's
exercise of it option to delay occupancy of the first floor of the
Premises and established February 1, 1995 as the Commencement
Date for the second floor of the Premises; (ii) decreased the
Term of the Lease to eight years five months, or from
October 1, 1994 through February 28, 2003, pursuant to
Lease Paragraph 51 ("Commencement Date, Lease Term and Basic
Rent Schedule Amended in the Event Tenant Delays Occupancy on the
First and/or Second Floor of the Leased Premises"); and
(iii) amended the Basic Rent Schedule and the Aggregate Rent
accordingly, and,
C. WHEREAS,
said Lease was amended by Amendment No. 2 dated
October 4, 1995 which: (i) amended Lease Paragraphs 49
("Cross Default") and 50 ("Lease Terms Co-Terminous") to include
reference to Tenant's other lease agreements with Landlord dated
August 17, 1990, June 16, 1992 and August 24, 1995
for premises respectively located at 700C and 700B East
Middlefield Road, Mountain View, California and 1101 West Maude
Avenue, Mountain View, California; (ii) amended Lease
Paragraph 52.B ("Structural Capital Costs Regulated by
Governmental Agencies after the Commencement of this Lease Not
Caused by Tenant or Tenant's Uses or Remodeling of the Premises")
to correct an error disclosed by an audit of the Lease which
required the deletion of the reference to the last four years of
the Lease Term as a factor in calculating Tenant's cash
contribution towards the cost of said improvements;
(iii) established Tenant's temporary driveway rights to
adjacent property leased by Tenant at 1101 West Maude Avenue,
Mountain View, California; and (iv) replaced Exhibit A to
the Lease, and
D. 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") and (ix) adding a paragraph ("Authority to
Execute") 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, and the Lease Termination Date shall
be changed from February 28, 2003 to February 28,
2015.
2.
BASIC RENT SCHEDULE : The monthly Basic Rent Schedule shall
be adjusted as follows:
On
March 1, 2003, the sum of TWO HUNDRED TWENTY NINE THOUSAND ONE
HUNDRED SEVENTY FOUR AND NO/100 DOLLARS ($229,174.00) 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 TWO HUNDRED THIRTY FOUR THOUSAND
NINE HUNDRED THREE AND 35/100 DOLLARS ($234,903.35) 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 TWO HUNDRED FORTY THOUSAND SEVEN
HUNDRED SEVENTY FIVE AND 93/100 DOLLARS ($240.775.93) 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 TWO HUNDRED FORTY SIX THOUSAND SEVEN
HUNDRED NINETY FIVE AND 33/100 DOLLARS ($246,795.33) shall be due,
and like sum due on the first day of each month thereafter, through
and including February 1, 2007.
On
March 1, 2007, the sum of TWO HUNDRED FIFTY TWO THOUSAND NINE
HUNDRED SIXTY FIVE AND 22/100 DOLLARS ($252,965.22) 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 TWO HUNDRED FIFTY NINE THOUSAND TWO
HUNDRED EIGHTY NINE AND 35/100 DOLLARS ($259,289.35) 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 SIXTY FIVE THOUSAND
SEVEN HUNDRED SEVENTY ONE AND 58/100 DOLLARS ($265,771.58) 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 SEVENTY TWO THOUSAND
FOUR HUNDRED FIFTEEN AND 87/100 DOLLARS ($272,415.87) shall be due,
and a like sum due on the first day of each month thereafter,
through and including February 1, 2011.
On
March 1, 2011, the sum of TWO HUNDRED SEVENTY NINE THOUSAND
TWO HUNDRED TWENTY SIX AND 27/100 DOLLARS ($279,226.27) shall be
due, and a like sum due on the first day of each month thereafter,
through and including February 1, 2012.
On March l,
2012, the sum of TWO HUNDRED EIGHTY SIX THOUSAND TWO HUNDRED SIX
AND 92/100 DOLLARS ($286,206.92) 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 NINETY THREE THOUSAND
THRE HUNDRED SIXTY TWO AND 10/100 DOLLARS ($293,362.10) 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 THREE HUNDRED THOUSAND SIX HUNDRED
NINETY SIX AND 15/100 DOLLARS ($300,696.15) 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
$37,938,984.84, or from $16,245,311.50 to
$54,184,296.34.
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
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