EXHIBIT 10.1
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FIRST AMENDMENT TO LEASE
SIGNATURE EVEWEAR, INC., A CALIFORNIA CORPORATION
1. Identification.
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This First Amendment to Lease
("Amendment") is dated for identification
purposes January 26, 2009 and is made and entered into by and
between Roxbury
Property Management LLC ("Lessor") and Signature Eyewear, Inc., a
California
Corporation ("Lessee").
2. Recitals.
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Lessee and Lessor are parties to that
certain industrial real estate lease
dated March 7, 2005 providing for the lease of Premises commonly
known as 498 N.
Oak Street, Inglewood, California (the "Lease"). All capitalized
terms used
herein shall have that same meaning as in the Lease. Lessor and
Lessee desire to
enter into this Amendment to provide for the extension of the Lease
Term and the
other matters herein set forth, on the following terms and
provisions.
3. Lease Term.
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Lease Tern, shall be amended to provide
for a continuation period of two
(2) years, commencing on July 1 ,2009 and terminating on June 30,
2011.
4. Rent and Other Charges Payable by
Lessee.
-----------------------------------------
Rent and other charges payable by Lessee
shall be as follows:
July
2009:
$32,000 payable on July 21, 2009. Signature
to pay all taxes, insurance and CAM for the
full month of July.
August 1,2009--June 30,
2010 $48,000 per month, payable on the 21st
day
of
each month.
July 1, 2010--June 30,
2011: $49,000 per month, payable on the 21st
day
of each month.
* Please make checks payable to Roxbury Property Management, LLC
and mail to:
Brenner, Berman and Associates
20812 Ventura Boulevard, Suite 202
Woodland Hills, CA 91364
5. Regarding the HVAC units, the
Lessor has paid $5,000 year-to-date for
repairs and is scheduled to spend another $4,000 for a new unit.
Additionally,
Lessor shall be responsible for all future HVAC repair, maintenance
and
replacement at Lessor's sole cost and expense, commencing upon
execution of the
Extension, excepting the new unit to serve the computer room.
Unless and until
Lessee lndemnifies Lessor for the maintenance and repair of that
unit, the
maintenance and repair of that unit shall be borne by Lessee.
Further, Lessee
indemnifies Lessor for any damage to Lessee's computing equipment
caused by
Lessor's failure to maintain or repair the HVAC unit that cools the
computer
room. In the event Lessee elects not to indemnify Lessor against
failure to
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maintain or repair the HVAC unit that cools the computer room,
Lessee shall be
responsible for the repair and maintenance of the HVAC unit that
cools the
computer room. Lessor shall hire Mann Air to install the computer
room unit,
subject to price and warranty approval by Lessor.
6. Lessor's landscaping service
shall use its best efforts to avoid
providing the service Monday-Friday 9:00 AM to 5:00 PM.
7. Option to Extend: See
Attached.
8. No Other Changes.
Except as herein above modified and
amended, the Lease is unchanged and is
in full force and effect.
IN WITNESS WHEREOF, Lessor and Lessee have
executed this First Amendment to
Lease on the date and at the place set forth opposite the
respective signatures.
Executed this 26th day
of
LESSOR:
January, 2009 at
Palm Desert,
CA
ROXBURY PROPERTY MANAGEMENT, LLC
By: /s/ Raymond Renta
---------------------------------
Raymond Renta, Member
Executed this 26th day
of
LESSEE:
January, 2009 at
Inglewood,
CA
SIGNATURE EYEWEAR, INC., A CALIFORNIA
CORPORATION
By: /s/ M. Prince CEO
---------------------------------
By:
/s/ M. Prince CFO
---------------------------------
M. Prince CEO/CFO
-------------------------------------
Please print name and title of
authorized officer
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OPTION(S) TO EXTEND STANDARD
LEASE ADDENDUM
Dated January 26, 2009
By and Between (Lessor) Roxbury Property
Management, LLC
By and Between (Lessee) Signature Eyewear,
Inc., a California corporation
Address of Premises: 498 N. Oak Street,
Inglewood, CA 90301
Paragraph 7
A. OPTION(S) TO EXTEND:
Lessor hereby grants to Lessee the option
to extend the term of this Lease
for one additional twenty-four month period(s) commencing when the
prior term
expires upon each and all of the following terms and
conditions:
(i) In order to exercise an option to
extend, Lessee must give written
notice of such election to Lessor and Lessor must receive the same
at least 4
but not more than 6 months prior to the date that the option period
would
commence, time being of the essence. If proper notification of the
exercise of
an option is not given and/or received, such option shall
automatically expire.
Options (if there are more than one) may only be exercised
consecutively.
(ii) The provisions of paragraph 39,
including those relating to Lessee's
Default set forth in paragraph 39.4 of this Lease, are conditions
of this
Option.
(iii) Except for the provisions of this
Lease granting an option or options
to extend the term, all of the terms and conditions of this Lease
except where
specifically modified by this option shall apply.
(iv) This Option is personal to the
original Lessee, and cannot be assigned
or exercised by anyone other than said original Lessee and only
while the
original Lessee is in
