Exhibit 10.5
AMENDMENT OF
LEASE BETWEEN VASONA BUSINESS
PARK
AND PROCERA NETWORKS,
INC.
This Amendment
(the “Amendment”), is made this 30th day of April 2009
(the “Effective Date”) by and between Vasona Business
Park, a California partnership, hereinafter referred to as
“Lessor,” and Procera Networks, Inc., a Nevada
corporation hereinafter referred to as
“Lessee”.
Whereas Lessor
and Lessee entered into a lease for approximately 11,772 square
feet of space in that larger 33,020 square foot industrial building
commonly known as 100C Cooper Court, Los Gatos, CA 95032 (the
“Original Lease”) and
Whereas, the
Lease was previously extended in that certain Lease Extension dated
November 5, 2007 (the “Lease Extension”),
and
Whereas, Lessee
has notified Lessor that it wishes to terminate the Lease and
Extension as soon as possible, and
Whereas the
parties wish to further amend Lease.
Now therefore,
Lessor and Lessee agree to amend the Lease and Extension as
follows:
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Section 3 of
the Original Lease. Rent . The
following language shall be added to the end of section
3:
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Notwithstanding
the foregoing, Lessee agrees to consolidate its operations into
approximately 3,000 square feet of the northeastern most portion of
the Premises on May 1, 2009. Commencing May 1, 2009, the
monthly rent for the period May 1, 2009, to April 30, 2010 shall be
reduced to $10,000 plus NNNs and utilities, as opposed to the
previous rent of $18,835 plus NNNs and utilities. The
rent for the period May 1, 2010 to June 30, 2011, shall be as
specified in the November 5, 2007, Lease Extension if Lessor is not
able to re-let the Premises.
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Section 3 of
the Lease Extension. Lessee waives any claim it may have
with respect to any of these improvements that might not have been
made, and agrees that Lessor has no further obligation with respect
to this Section 3.
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Section 4 of
the Lease Extension is hereby de
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