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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:
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(a) There is added to Section 1.4
Premises the following:
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"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:
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"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:
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BASE RENT PAYMENT
AMOUNT
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EXPANSION RENT PAYMENT
AMOUNT
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TOTAL
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$31,750.00
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$0.00
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$31,750.00
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$31,750.00
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$10,000.00
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$41,750.00
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$31,750.00
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$10,500.00
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$42,250.00
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$31,750.00
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$11,335.00
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$43,085.00
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$34,100.00
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$11,335.00
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$45,435.00
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$34,100.00
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$12,165.00
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$46,265.00
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$34,100.00
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$12,535.00
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$46,635.00
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$34,100.00
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$12,900.00
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$47
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