Exhibit 10.2
AMENDMENT OF INDUSTRIAL
BUILDING LEASE (NET)
This Amendment is
made as of the 5th day of April, 2007, by and between W.C. Bradley
Co. (“Landlord”) and Magnetek, Inc.
(“Tenant”).
WHEREAS, Landlord
and Tenant entered into a lease dated November 20, 2006 (the
“Lease”), for premises located at N50 W13775 Overview
Drive, Menomonee Falls, Wisconsin (the
“Premises”),
WHEREAS, Tenant
exercised its Right of First Refusal under Section 24.14 of the
Lease to lease the additional 26,612 square feet of contiguous
space in the Building (the “Expansion Space”),
and
WHEREAS, Landlord
and Tenant desire to amend the Lease (with capitalized terms used
not defined herein to have the meanings set forth in the Lease as
amended hereby).
NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of
which are acknowledged, the parties agree to amend the Lease as
follows:
(1)
The Premises subject to the Lease is hereby amended to add the
Expansion Space, and the term “Premises” shall mean the
entire Building and Property. The Tenant’s
Proportionate Share is changed from sixty-two and 36/100 percent
(62.36%) to one hundred percent (100%). The parties agree
that the fifty percent (50%) discount in Section 3.2 of the Lease
relating to the first twelve (12) months of Additional Rent does
not apply to the Expansion Space.
(2)
Effective as of April 15, 2007, the Base Rent during the remaining
portion of the Initial Term set forth in Section 1.11 of the Lease
is amended as follows:
|
Months
|
|
Annual Base Rent
|
|
Monthly Base Rent
|
|
4/15/07-11/14/07
|
|
$228,889.13
|
|
$19,074.09
|
|
11/15/07-11/14/08
|
|
$346,474.86
|
|
$28,872.90
|
|
11/15/08-11/14/09
|
|
$355,136.73
|
|
$29,594.73
|
|
11/15/09-11/14/10
|
|
$364,015.15
|
|
$30,334.60
|
|
11/15/10-11/14/11
|
|
$373,115.52
|
|
$31,092.96
|
|
11/15/11-11/14/12
|
|
$382,443.41
|
|
$31,870.28
|
|
11/15/12-11/14/13
|
|
$392,004.50
|
|
$32,667.04
|
|
11/15/13-5/14/14
|
|
$401,804.61
|
|
$33,483.72
|
and the Base Rent
during the renewal terms set forth in Section 24.13 of the Lease
will be as follows:
|
Months
|
|
Annual Base Rent
|
|
Monthly Base Rent
|
|
5/15/14-5/14/15
|
|
$411,849.73
|
|
$34,320.81
|
|
5/15/15-5/14/16
|
|
$422,145.97
|
|
$35,178.83
|
|
5/15/16-5/14/17
|
|
$432,699
|
|
