Exhibit 10.29
FIRST
AMENDMENT
to
BUILD TO SUIT LEASE
The first amendment (this
"Amendment") is entered into as of January 15, 2008, by and between
MICRON TECHNOLOGY, INC., a Delaware corporation and PHOTRONICS,
INC., a Connecticut corporation in connection with the Build to
Suit Lease (the "Lease") between the Parties dated May 5, 2006. All
capitalized terms used herein and not otherwise defined shall have
the meaning ascribed to such terms in the Lease.
RECITALS
A. On May 5, 2006, the Parties
entered into the Lease, and, in accordance with the terms thereof,
Micron constructed the Micron Improvements upon the Land.
B. Effective as of January 1, 2008
the Parties entered into a Supplemental Agreement as provided for
in Section 4.2(c) of the Lease setting forth the Lease Commencement
Date and the Rent Commencement Date.
C. Section 3.1(a) of the Lease
provides that the Parties shall enter into an amendment to the
Lease to provide a legal description and depiction of the Land as
Exhibits A and B to the Lease once the location of the Land has
been identified.
D. Section 5.1(a) of the Lease
provides that Micron shall prepare and deliver to Photronics the
Lease Payment Schedule setting forth the quarterly Base Rent.
Section 5.1(a) further provides that Base Rent shall be calculated
based upon amortization of all Development Costs in an amount not
to exceed xxxx (Material omitted pursuant to a request
for confidential treatment under Rule 24b-2 of the Exchange Act of
1934. Material filed separately with the Securities and Exchange
Commission.)
E. The Parties desire to enter
into this Amendment to amend the Rent Commencement Date, supply a
legal description and depiction of the Land, establish a Lease
Payment Schedule and increase the limit on Development Costs.
AGREEMENT
In consideration of the mutual
promises contained herein and for other good and valuable
consideration, the receipt of which the Parties hereby acknowledge,
the Parties hereby agree as follows:
1. The description attached hereto
as Schedule A shall constitute Exhibit A to the Lease and shall be
incorporated therein. The legal description attached hereto as
Schedule B shall constitute Exhibit B to the Lease and shall be
incorporated therein.
2. The schedule attached hereto as
Schedule C shall constitute the Lease Payment Schedule described in
Section 5.1(a) of the Lease.
3. The Rent Commencement Date of
January 1, 2008 set forth in the Supplemental Agreement between the
Parties shall be changed to April 1, 2008.
4. The language xxxx
(Material omitted pursuant to a request for confidential
treatment under Rule 24b-2 of the Exchange Act of
