Exhibit 10.26
FIRST AMENDMENT TO LEASE
AGREEMENT
THIS FIRST AMENDMENT TO LEASE
AGREEMENT (this “Amendment”) is made as of 19th day of
January, 2010, by and between 3900 SAN CLEMENTE, L.P ., a
Texas limited partnership (“Landlord”) and
BAZAARVOICE, INC ., a Delaware corporation
(“Tenant”).
WHEREAS, Landlord and Tenant entered
into that certain Office Lease Agreement dated as of July 15,
2009 (the “Lease”) pursuant to which Tenant leases from
Landlord approximately 50,798 square feet of Agreed Rentable Area
known as Suite 300 in that certain building known as 3900 San
Clemente, and located at 3900 N. Capital of Texas Highway, Austin,
Texas 78746; and
WHEREAS, Landlord and Tenant
mutually desire to amend the Lease to increase the Security Deposit
and to increase the Agreed Rentable Area of the Expansion
Space.
NOW, THEREFORE, for and in
consideration of the premises and the mutual covenants and
conditions contained herein, the receipt and sufficiency of which
are hereby acknowledged and confessed, the parties agree as
follows:
1. Security Deposit . The
Security Deposit is hereby increased by $100,000.00, from
$900,000.00 to $1,000,000.00. Therefore, Item 8 of the Basic
Lease Provisions is hereby amended in its entirety to the
following:
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8.
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Security Deposit: $1,000,000.00,
which may be in the form of a letter of credit (see Article 3,
Supplemental Lease Provisions).
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Within 10 days following the
execution and delivery of this Amendment by Tenant and Landlord,
Tenant shall deliver the additional $100,000.00 Security Deposit to
Landlord.
2. Expansion Option
.
(a) The Agreed Rentable Area of the
Expansion Space as set forth in Rider 2 to the Lease is hereby
amended from 11,928 square feet to approximately 26,006 square
feet. Schedule A to Rider 2 is hereby deleted and
Exhibit A attached hereto is substituted in lieu
thereof.
(b) Section B (a) of Rider
2 to the Lease is hereby amended in its entirety to read as
follows:
(a) The Expansion Space shall be
delivered to Tenant in the same condition as the Premises is
required to be delivered to Tenant as of the Commencement Date
under the Lease, and shall be constructed by Landlord substantially
in accordance with the terms of the Work Letter attached to the
Lease as Exhibit D with the following modifications:
(i) references to the “Premises” contained therein
shall be deemed to mean the Expansion Space, (ii) the
Commencement Date with respect to the Expansion Space shall be
earlier to occur of (x) the date of Substantial Completion,
subject to adjustment for any Tenant Delays, and (y) the first
day of the eighteenth (18th) Lease Month of the Term,
(iii) the initial space plan for the Expansion Space shall be
delivered by Tenant to Landlord concurrently with Tenant’s
delivery of the Notice, (iv) Landlord shall have no right
to
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terminate the Lease for failure to approve the
construction plans under Section 1.3 of the Work Letter or
failure to accept the Contract Sum under Section 2.2 of the
Work Letter, (vi) to provide for such other matters as are
necessary to reflect the agreements of the parties with respect to
the finish out of the Expansion Space, and (vii) Tenant shall
be entitled to use up to $50,000.00 of the Finish Allowance
provided with respect to the Expansion Space to pay for
improvements constructed in the initial Premises leased by Tenant
under the Lease.
3. Tenant’s Right of
Opportunity . The first paragraph of Section A of Rider 3
to the Lease is hereby amended in its entirety to read as
follows:
Tenant shall have a right of
opportunity (the “Right of Opportunity”) on the space
containing 12,754 square feet of Agreed Rentable Area on the second
(2nd) floor of the Building and identified as the
“Opportunity Expansion Space” on Schedule A
to Rider 2 above (the “Opportunity Expansion
Space”) as provided in this Rider 3. However, upon the
expiration or termination of Tenant’s Expansion Option
(without the same having been exercised by Tenant), the Opportunity
Expansion Space shall automatically be amended to mean the space
containing approximately 26,000 square feet of Agreed Rentable Area
on the second (2nd) floor of the Building and identified as
the “Expansion Space” on Schedule A to
Rider 2 above. Tenant’s Right o
