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FIRST AMENDMENT TO LEASE

Lease Agreement

FIRST AMENDMENT TO LEASE | Document Parties: First Industrial Realty Trust, Inc | First Industrial, LP | inTEST Corporation You are currently viewing:
This Lease Agreement involves

First Industrial Realty Trust, Inc | First Industrial, LP | inTEST Corporation

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Title: FIRST AMENDMENT TO LEASE
Date: 7/27/2007
Industry: Electronic Instr. and Controls     Sector: Technology

FIRST AMENDMENT TO LEASE, Parties: first industrial realty trust  inc , first industrial  lp , intest corporation
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EXHIBIT 10.2

FIRST AMENDMENT TO LEASE

This First Amendment to Lease (the "Amendment") is made as of the second day of October 2000 between First Industrial, L.P., a Delaware limited partnership ("Landlord") and inTEST Corporation, a New Jersey corporation ("Tenant").

Background

Landlord and Tenant are parties to a Lease dated June 6, 2000 (the "Lease") pursuant to which Landlord has agreed to lease to Tenant and Tenant has agreed to rent from Landlord 80,000 sq. ft. of space at 3 Computer Drive, (now known as 7 Esterbrook Drive) Cherry Hill Industrial Park, Cherry Hill Township, New Jersey, as more particularly defined in the Lease (the "Premises"). Landlord and Tenant desire to amend the Lease by providing for the leasing of 41,700 sq. ft. of additional space at 7 Esterbrook Drive, contiguous to the Premises, as such additional space is depicted on Exhibit "A" hereto (the "Expansion Space") upon the terms and conditions set forth in this Amendment.

Agreement

Now therefore, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and intending to be legally bound hereby, Landlord and Tenant covenant and agree as follows:

1.      Defined Terms . Capitalized Terms not otherwise defined in this Amendment shall have the same meaning as in the Lease unless the context otherwise clearly requires.

2.      Basic Terms . Section 1 of the Lease is amended as follows:

    • (a)     There is added to Section 1.4 Premises the following:

        • "Effective the Expansion Space Commencement Date (herein defined), the Premises shall include the Expansion Space comprising 41,700 sq. ft. of space adjoining the Premises, as depicted in Exhibit "A" attached hereto and made a part hereof."

      (b)     There is added a new Section 1.6.1 as follows:

        • "1.6.1 Expansion Space Term. The term for the Expansion Space shall commence October 2, 2000 (the "Expansion Space Commencement Date") and shall end on the Expiration Date, unless sooner terminated as provided in the Lease."

      (c)     Section 1.11 is hereby deleted and the following is inserted in its place and stead:

Base Rent payable by Tenant throughout the Term and for both the Premises and the Expansion Space is as follows:



    • MONTHS

BASE RENT PAYMENT
AMOUNT

EXPANSION RENT PAYMENT AMOUNT



TOTAL

    • 9/1/00-12/31/00

$31,750.00

$0.00

$31,750.00

    • 1/1/01-12/31/01

$31,750.00

$10,000.00

$41,750.00

    • 1/1/02-12/31/02

$31,750.00

$10,500.00

$42,250.00

    • 1/1/03-8/31/03

$31,750.00

$11,335.00

$43,085.00

    • 9/1/03-12/31/03

$34,100.00

$11,335.00

$45,435.00

    • 1/1/04-12/31/04

$34,100.00

$12,165.00

$46,265.00

    • 1/1/05-12/31/05

$34,100.00

$12,535.00

$46,635.00

    • 1/1/06-8/31/06

$34,100.00

$12,900.00

$47


 
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