FOURTH AMENDMENT TO
LEASE
THIS FOURTH AMENDMENT TO LEASE (the “
Amendment ”) is made and entered into effective as of
February 27, 2009 (the “ Effective Date ”) by
and between NORTHLAND CAMBRIDGE STREET LLC , a Delaware
limited liability company (“Landlord ”) and
PALOMAR MEDICAL TECHNOLOGIES, INC. , a Delaware corporation
(“ Tenant ”).
RECITALS
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A.
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Landlord and Tenant are parties
to that certain Commercial Lease dated June 17, 1999 (the “
Original Lease”) by and between 82 Cambridge Street
Associates, LLC and Tenant, as amended by that certain First
Amendment to Lease dated as of March 20, 2000 (the “ First
Amendment ”), as further amended by that certain Second
Amendment to Lease dated as of January 18, 2006 (the “
Second Amendment ”), as further amended by that
certain Third Amendment to Lease dated as of July 30, 2007 (the
“ Third Amendment ”). The Original Lease as
amended by the First Amendment, the Second Amendment, the Third
Amendment and this Fourth Amendment is herein referred to as the
“ Lease ”.
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B.
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Pursuant to the Original Lease,
as amended to date, Tenant currently leases certain office space
consisting of (i) 55,450 rentable square feet in the building
located at 82 Cambridge Street, Burlington, Massachusetts (the
“ 82 Cambridge Street Premises ”) and 13,600
rentable square feet in the building located at 80 Cambridge
Street, Burlington, Massachusetts (the “ 80 Cambridge
Street Premises”). Collectively, the 82 Cambridge Street
Premises and 80 Cambridge Street Premises shall be referred to
herein as the “ Premises ”.
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C.
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The Term of the Lease will expire
on August 31, 2009.
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D.
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Tenant has requested that
Landlord extend the term of the Lease to August 31, 2010 (the
“ Extended Term ”) and that the Lease be
appropriately amended, and Landlord is willing to do the same on
the following terms and conditions.
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NOW, THEREFORE , in consideration of the above recitals
which by this reference are incorporated herein, the mutual
covenants and conditions contained herein and other valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, Landlord and Tenant agree as follows:
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1.
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Term; No Extension
Option .
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1.01.
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Effective as of the Effective
Date, the Term of the Lease shall be extended to August 31,
2010 , which date shall be the expiration date of the
Extended Term (the “ Expiration Date
”).
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1.02.
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Tenant hereby acknowledges and
agrees that all rights of Tenant set forth in the Lease to extend
the term of the Lease, including without limitation Exhibit B of
the Original Lease, have expired without being exercised and thus
are of no further force or effect.
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2.01.
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Effective as of September 1,
2009, the Base Rent for the Premises shall be
$135,558.33 per month (i.e. $121,391.67 per month for
the 82 Cambridge Street Premises and $14,166.67 per month for the
80 Cambridge Street Premises).
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2.02.
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Tenant hereby acknowledges and
agrees that the obligations of Tenant under the Lease shall be
separate and independent covenants and agreements, that Base Rent
and all other amounts due under the Lease (collectively, “
Rent ”) shall continue to be payable in all events and
that the obligations of Tenant under the Lease shall continue
unaffected, unless the requirement to pay or perform th
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