|
Exhibit 10
FIFTH AMENDMENT
TO
LEASE
AGREEMENT
JORDAN VALLEY TECHNOLOGY
CENTER
OFFICE BUILDING
TWO
THIS FIFTH AMENDMENT TO LEASE
AGREEMENT (the “Amendment”) is made and entered into as
of this 29 th day
of June, 2007, by and between BOYER FREEWAY PARK, L.C., a Utah
Limited Liability Company, (the “Landlord”), and
TENFOLD CORPORATION, a Delaware Corporation (the
“Tenant”), (collectively the
“Parties”).
RECITALS:
WHEREAS, Boyer Jordan Valley
1, L.C. (the predecessor in interest to Landlord) and Tenant
entered into a certain Lease Agreement – Tenfold Office
Building Phase I, dated April 28, 2000 and amended by the
First Amendment to Lease Agreement dated November 30, 2000,
and the Second Amendment to Lease Agreement dated April 3,
2002, and Third Amendment to Lease Agreement dated
September 30, 2002, and Fourth Amendment to Lease Agreement
dated December 12, 2002 (the “Lease”) providing
for the lease by Landlord to Tenant of the office building located
at 698 West 10000 South in South Jordan, Utah. Capitalized terms
which are used but not defined in this Amendment shall have the
same meaning as is set forth in the Lease; and
WHEREAS, Boyer Jordan Valley
1, L.C. assigned its entire right, title and interest in the Lease
and conveyed its entire right, title and interest in and to the
Leased Premises to Landlord; and
WHEREAS, Landlord and Tenant
desire to modify the Lease strictly upon the terms and conditions
set forth in this Amendment.
NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant hereby agree as
follows:
| |
1. |
A RTICLE 1.1( D ), N
ON -E XCLUSIVE P
ARKING : The number of non-exclusive parking
stalls shall be changed from 89 to 90 parking stalls. |
| |
2. |
A RTICLE 2.1, L ENGTH
OF T ERM : The length of this
Fifth Lease Amendment shall be for a period of Five
(5) years. |
| |
3. |
A RTICLE 2.2, C OMMENCEMENT
D ATE ; O BLIGATION TO
P AY R ENT : The Commencement
Date of this Fifth Amendment to Lease Agreement shall be
September 1, 2007. Tenant’s obligation to pay rent
herein shall commence on the Commencement Date. The Expiration Date
of this Amendment shall be August 31, 2012. |
1
| |
4. |
A RTICLE 3.1, B ASIC A
NNUAL R ENT : The Basic
Annual Rent for the term of this Fifth Amendment to Lease Agreement
shall be as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease
Year
|
|
Dates |
|
Rentable
Square Ft
|
|
NNN Rent
Per RSF
|
|
Annual Rent |
|
Monthly Rent |
|
1
|
|
9/1/07 - 8/31/08 |
|
22,310 |
|
$ |
14.00 |
|
$ |
312,340.00 |
|
$ |
26,028.33 |
|
2
|
|
9/1/08 - 8/31/09 |
|
22,310 |
|
$ |
14.50 |
|
$ |
323,495.00 |
|
$ |
26,957.92 |
|
3
|
|
9/1/09 - 8/31/10 |
|
22,310 |
|
$ |
15.00 |
|
$ |
334,650.00 |
|
$ |
27,887.50 |
|
4
|
|
9/1/10 - 8/31/11 |
|
22,310 |
|
$ |
15.50 |
|
$ |
345,805.00 |
|
$ |
28,817.08 |
|
5
|
|
9/1/11 - 8/31/12 |
|
22,310 |
|
$ |
16.00 |
|
$ |
356,960.00 |
|
$ |
29,746.67 |
| |
5. |
A RTICLE 21.3 E XTERIOR S
IGNAG |
|
