FIRST AMENDMENT TO LEASE
AGREEMENT
THIS FIRST AMENDMENT TO LEASE AGREEMENT
(“First Amendment”) is made and dated effective as of
January 1, 2009 by and between 109 MORGAN LANE, LLC, a New
Jersey limited liability company (“Landlord”) and
INTEGRA LIFESCIENCES CORPORATION,
(“Tenant”).
A. Landlord and Tenant are parties to a
certain Lease Agreement dated May 15, 2008 (the
“Lease”), pursuant to the provisions of which the
Landlord leased to the Tenant, and the Tenant rented from the
Landlord certain space in the Building located at 109 Morgan Lane,
Plainsboro, Middlesex County, New Jersey.
B. Landlord and Tenant now desire to amend
and modify the Lease pursuant to the provisions of this First
Amendment.
NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby
acknowledged, and with the intention of being legally bound, the
Landlord and Tenant hereby agree as follows:
1. Except as specifically defined in this
First Amendment, initially capitalized terms in this First
Amendment shall have the meaning ascribed to such terms in the
Lease.
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2.
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Subsection 9 of the BASIC LEASE
PROVISIONS AND DEFINITIONS is hereby amended in its entirety as
follows:
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“ (9)Termination Date: Shall mean
March 31, 2019 for both the Initial Space and for the
Remaining Space, unless the term of the Lease is extended by Tenant
as provided herein. If Tenant exercises its option to renew for
five years, the termination date shall be the last day of such five
extension period.”
3. The definition of Miniumum Rent as set
forth in the BASIC LEASE PROVISIONS AND DEFINITIONS is hereby
amended in its entirety as follows:
“Minimum Rent: For the Initial Space from
June 1, 2008 through March 31, 2019 :
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Months
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Monthly Rent
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Annual Rent
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$
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20,062.50
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$
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240,750.00
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$
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20,619.79
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$
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247,437.48
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$
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22,514.58
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$
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270,174.96
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For the Remaining Space (if applicable) from the
Move In Date through March 31, 2019: $26,311.34 per month
(which is equal to $315,736.08 per year), as adjusted pursuant to
Article 4 of this Lease.
The Annual Rent during the renewal term shall be
computed in accordance with the provisions of this Paragraph. In
the event the Consumer Price Index for Urban Wage Earners and
Clerical Workers in the City of Philadelphia published by the
Bureau of Labor Statistics of the U.S. Department of Labor (1982-84
equals 100) (hereinafter called the “Price Index”) or a
successor or substitute index appropriately adjusted, reflects an
increase in the cost of living in the first full calendar month of
the renewal term of this Lease (the “Adjustment Month”)
over and above such cost of living as ref
