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Exhibit
10.22
FIRST AMENDMENT TO
LEASE
Effective the 11
th day of May, 2005, PARADIGM RESOURCES, L.C., a
Utah limited liability company (hereinafter
“Landlord”), and AMEDICA CORPORATION, a Delaware
“C” corporation (hereinafter “Tenant”),
enter into the following agreement:
RECITALS:
WHEREAS, Landlord and Tenant
entered into that certain Lease Agreement dated March 22, 2004
(hereinafter “Lease”), for Space 302, consisting of
approximately 5,197 square feet of gross rentable area located at
(hereinafter “Leased Premises”).
WHEREAS, Landlord and Tenant
desire to modify the Lease to include an additional 1,174 square
feet.
WHEREAS, Landlord and Tenant
desire to modify the Lease as follows:
AGREEMENT:
NOW, THEREFORE, in
consideration of the mutual covenants herein contained, and other
good and valuable consideration, it is covenanted and agreed
between the parties that the Lease be modified and amended as
follows:
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1. |
Section 1.01(I) of the Lease is amended and restated as
follows: “That portion of the building at the approximate
location outlined on Exhibit “A” known as Suite 302
consisting of approximately 6,371 square feet of gross rentable
area. Approximately 16.5288% of such area is Tenant’s
proportionate share of common area hallways, restrooms, etc. in the
building.” |
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2. |
Section. 1.01(K) RENTAL TERM, COMMENCEMENT AND EXPIRATION DATE
of the Lease is amended and restated as follows: “The Rental
Term shall commence on the earlier of (a) June 1, 2005 or
(b) opening of Tenant for business at the Premises, and shall
be for a period of four (4) and three (3) months ending
August 31, 2009.” |
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3. |
Section 1.01(L) BASE MONTHLY RENT of the Lease is amended
and restated as follows: “Ten Thousand Four Hundred
Eighty-Five and 60/100 Dollars ($10,485.60) commencing May 1,
2005.” |
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4. |
Section 1.01(M) ESCALATIONS IN BASE MONTHLY RENT shall be
amended and restated as follows: “ $10,798.85 monthly,
commencing June 1, 2005 ; $11,122.81 monthly,
commencing June 1, 2006 ; $11,456.50 monthly,
commencing June 1, 2007; $11,800.19 monthly, commencing
June 1, 2008.” |
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5. |
LANDLORD CONTRIBUTION TO TENANT’S WORK: Landlord shall
contribute an amount not to exceed Eight Dollars (
$8.00 ) per square foot or Nine Thousand Three Hundred
Ninety Two and 00/100 Dollars ( $9,392.00 ) toward
Tenant’s cost of improvements in the Leased Premises, to be
paid on the latter of |
Tenant opening for business
or upon satisfactory completion of Tenant’s work in
accordance with the terms of Exhibit “C-1”. Landlord
shall have no obligation to pay any po
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