Exhibit 10.262
ELEVENTH AMENDMENT TO LEASE- PPD
DEVELOPMENT, LP
THIS ELEVENTH AMENDMENT TO LEASE
AGREEMENT (this “ Amendment ”) is made and
entered into this 31st day of March, 2008, by and between Greenway
Office Center L.L.C. (the “ Landlord ”) and PPD
Development, LP (the “ Tenant ”).
RECITALS:
WHEREAS, Tenant, through PPD Development, LLC
(Tenant’s predecessor in interest) and Landlord entered into
a Lease dated April 30, 2001, as amended on August 15,
2001, August 25, 2003, March 22,
2004, May 17, 2004, December 5,
2004, June 30, 2005, July 29,
2005, March 1, 2006, August 31, 2007, and
September 25, 2007 with respect to certain space located at
8551 Research Way, Middleton, Wisconsin (the Lease, as so amended
and as amended by this Amendment is referred to as the
“Lease” ) in a building known as the Greenway
Research Center (“ Building ”); and
WHEREAS, the Term of possession ends on November 30,
2016; and
WHEREAS, Landlord and Tenant desire to extend its Term of
possession and expand its existing Premises; and
THEREFORE , for good valuable consideration, the receipt
and sufficiency of which the parties hereby acknowledge, Landlord
and Tenant agree as follows:
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1.
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Extension. Landlord and Tenant agree to extend the Lease
for one (1) year and six (6) months, terminating on
May 31, 2018 (the “ Extension Term”
).
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2.
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Base Rent
for Extension Term. Tenant shall pay to Landlord the Monthly Base
Rent for the Extension Term as follows:
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Period for Extension
Term
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Annual Rate Per Square Foot
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12/1/2016 to 2/28/2017
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$
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18.67
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3/1/2017 to 2/28/2018
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$
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19.23
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3/1/2018 to 5/31/2018
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$
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19.80
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3.
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Suite 150
Expansion. Tenant shall
have the right to expand the Premises by leasing the space commonly
known as suite 150 in the Building, which consists of 13,059
rentable square feet (the “ Suite 150 Expansion Space
”). The Suite 150 Expansion Space shall become a part of the
Premises on June 1, 2008 (the “Suite 150 Expansion
Commencement Date”). Tenant shall pay Landlord base
r
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