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Blue Star Rental Agreement "Spaces for professional purposes"

Lease Agreement

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TECHTEAM GLOBAL INC | MARTIN DE WAELE MANAGEMENT

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Title: Blue Star Rental Agreement "Spaces for professional purposes"
Date: 3/16/2009
Industry: Computer Services     Sector: Technology

Blue Star Rental Agreement
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Exhibit 10.8

Blue Star

Rental Agreement “Spaces for professional purposes”
Between

EVERE REAL ESTATE, anonymous partnership of which the established company seat is at 1932 Zaventem, Hippokrateslaan 16, entered in the record of legal persons 441.403.745, represented by two members of its management committee:

The determined partnership with limited responsibility ANDRE BOSMANS MANAGEMENT, established at 9000 Gent, Posteemestraat 42, represented here by its business manager, Mr. Andre Bosmans;

The determined partnership with limited responsibility MARTIN DE WAELE MANAGEMENT, established at 3060 Bertem, Gloriantlaan 6, here represented by its business manager, Mr. Martin De Waele;

Who attest to have the necessary authority at their disposal to sign the agreement in question on behalf of the company,

Hereafter called “the Lessor”,

and

TECH TEAM EUROPE, anonymous partnership seated at 1130 Brussels, Zweefvliegtuigstraat 10, entered in the record of legal persons under number                      , of this city

Represented by Mr. Christophe Neut, General Manager

Who attests to have the necessary authority at his disposal to sign the agreement in question on behalf of the company,

Hereafter called “the Lessee”,

a lease is entered into according to the general conditions added and the special conditions described hereafter, which together constitute the rental agreement in question. The special conditions have priority over the general conditions.

Dutch > English Certified Translation by: ASTA-USA Translation Services, Inc. February 5, 2009
www.asta-usa.com

 


 

SPECIAL CONDITIONS

1. SUBJECT OF THE CONTRACT AND PURPOSE OF THE SPACES

EVERE Authority

In a building, named Blue Star, located at Zweefvliegtuigstraat 10

1.1 the following private portions, outlined with a blue border on the attached plans of the levels and locations:

1.1.1 on the ground floor, on the third and fourth levels of block A, offices;

1.1.2 on the third and fourth levels of block B, offices

1.1.3 fifty-five above-ground parking spaces

1.1.4 on level -1, spaces used as filing spaces.

1.2 the parts of the building useable for general use of the occupants.

2. ALLOCATIONS IN THE BUILDING

The following quotients will be allocated to the leased spaces for the communal expenses:

For the offices in Block A described under 1.1.1: 2.369/ 100.992 for the ground floor, 2.819/100.992 for the third level, and 2.819/ 100.992 for the fourth level;

For the offices in Block B described under 1.1.2: 4.548 /100.992 for the third level and 4.548/ 100.992 for the fourth level;

For the parking spaces described under 1.1.3: no quotients;

For the spaces described under 1.1.4: no quotients.

3. DURATION OF THE RENTAL AGREEMENT

The rental agreement in question is entered into for a duration of nine years, commencing on 1 January 2005 and, legally and without prior cancellation ending at midnight on 31 December 2013, without the ability to invoke an implied renewal.

Dutch > English Certified Translation by: ASTA-USA Translation Services, Inc. February 5, 2009
www.asta-usa.com

 


 

Nonetheless, each party has the right to end the lease early at the end of the sixth year, that is on 31 December 2010, on the condition that a signed letter of prior cancellation be given to the other party six months beforehand.

4. CONDITION OF THE SPACES

The spaces are to be made available in the condition in which they exist at present, where the LESSEE is concerned pursuant to a previous rental agreement.

5. RENT

The annual base rent is set at six hundred seventy-seven thousand seven hundred fifty-three Euros (677, 753.00 ), namely:

For the offices described under 1.1.1 and 1.1.2: 631,478

For the parking spaces described under 1.1.3: 37,290

For the spaces described under 1.1.4: 8,985

This rent is linked to the index for the month preceding the signing of the agreement in question, namely, either the index for February 2004, which is valid as a base index; or 113.02 as long as the health index is applicable. The first rent to be paid will be the result of the application of the base rent price to the evolution of this index, with, as a new index, the one from the month preceding the one when the rental agreement is entered into. That is, the index for December 2004. The additional applications will take place on 1 January of each year, and the first time in 2006.

The rent is payable quarterly in advance, to account no. 001-3807899-46 of the LESSOR, or to any account that the latter informs the LESSEE of, and for the first time on 1 January 2005.

6. PAYMENT OF THE COMMUNAL EXPENSES

In accordance with article 9 of the general conditions, the communal rental expenses give cause to payment by the LESSEE of trimestrial provisions, of which the amount is currently set at 42,500 6, being a fourth of the annual portion provided for the LESSEE in the communal expenses. They are payable to account no. 001-4216064-35 on the same date as the rent. The regulation will take place at the end of each calendar year, whether by sending an invoice or a credit statement.

Dutch > English Certified Translation by: ASTA-USA Translation Services, Inc. February 5, 2009
www.asta-usa.com

 


 

7. RENT GUARANTEE

The amount of the rent guarantee must be equal to six months’ rent and should be adjusted at the end of each three-year period, taking into consideration the changed rent.

This deposit will be in the form of a bank guarantee, according to the example in the enclosure.

8. CHARGES, EXPENSES, CONTRIBUTIONS

All charges, expenses, and contributions referred to in article 7 of the general conditions should be paid by the LESSEE to the LESSOR at least fourteen days before they are due.

9. REGISTRATION

For the calculation of the registration fees, the expenses not expressed in terms of numbers are structured at 10 % of the annual base rent.

10. USE OF THE SPACES

The LESSEE may not load the floor by more than 300 kg per square meter (including walls) in the office spaces.

11. RIGHT OF PREFERENCE FOR EACH APPLICANT LESSEE

Before entering into a rental contract with a third party, the LESSOR—concerning the fifth and the sixth levels of Block A—by fax or e-mail, shall inform the LESSEE of the conditions that are provided and against which the latter has precedence over any other applicant LESSEE. The LESSEE shall have ten business days at his disposal to inform the LESSOR that he will rent the proposed spaces. In that case, without delay an enclosure to the rental agreement in question will be signed, and it will be in effect on the first day of the following month. If the LESSEE does not react in the period of ten business days, he will be considered to have renounced the right of preference for the transaction involved.

12. DEFERRED CONDITIONS

The agreement in question is being entered into under the deferred conditions from the signing of enclosure 8 of the rental agreement of 18 July 1997, in which, among other things, the amicable breaking of the agreement of 31 December 2004 is agreed upon.

13. List of enclosures

 

General conditions,

 

 

Plans for the levels concerned,

Dutch > English Certified Translation by: ASTA-USA Translation Services, Inc. February 5, 2009
www.asta-usa.com

 


 

 

Regulation of internal order,

 

 

Example of bank guarantee.

Drawn up in Brussels on 10 May 2004 in four
Copies, of which one is for the registry. Each party
Acknowledges having received his copy.

 

 

 

[signature] THE LESSOR

 

[signature] THE LESSEE

Tech Team Global NV/SA

 

 

Zweefvliegtuigstraat 10 Rue du Planeur

 

 

1130 Brussels

 

 

Belgium

 

 

Dutch > English Certified Translation by: ASTA-USA Translation Services, Inc. February 5, 2009
www.asta-usa.com

 


 

 

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