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EXHIBIT 10.2
FIRST AMENDMENT
THIS FIRST AMENDMENT (the "Amendment") is made and entered into
as of the
3rd day of May, 2007, by and between PS BUSINESS PARKS, L.P., a
California
Limited Partnership ("Landlord"), and RAPTOR NETWORKS
TECHNOLOGY, INC., a
California Corporation ("Tenant").
RECITALS
A. Landlord and Tenant are parties to that certain lease dated
May, 3, 2004
(collectively, the "Lease"). Pursuant to the Lease, Landlord has
leased
to Tenant space currently containing approximately 11,118
rentable square
feet (the "Premises") described as Suite No. 150 on the first
floor of
the building commonly known as the 1241 Building located at 1241
E. Dyer
Road, Santa Ana, CA 92705 (the "Building"), which is a part of
the
project commonly referred to as Orange County Business Center
(the
"Project").
B. Tenant and Landlord mutually desire that the Lease be amended
on and
subject to the following terms and conditions.
NOW, THEREFORE, in consideration of the mutual covenants and
agreements
herein contained and other good and valuable consideration, the
receipt and
sufficiency of which are hereby acknowledged, Landlord and
Tenant agree as
follows:
I. AMENDMENT. Effective as of the date hereof (unless different
effective
date(s) is/are specifically referenced in this Section),
Landlord and
Tenant agree that the Lease shall be amended in accordance with
the
following terms and conditions:
A. Lease renewal shall be for twenty-four (24) months commencing
on
August 1, (2007) and expiring on July 31, (2009.)
B. Base Rent Schedule is as follows:
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Period of Term Monthly
Base Rent
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August 1, 2007 -- July 31, 2008 $2.10/SF ($23,347.80/month)
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August 1, 2008 -- July 31, 2009 $2,17/SF ($24,126.06/month)
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C. Tenant Improvements:
1. Landlord shall repair and/or re-work HVAC systems to
bring
to good working order.
2. Landlord shall steam clean carpets in 1st month and 13th
months.
3. Landlord shall have janitorial services clean the
interior
restrooms of the Premises.
D. Security Deposit. Landlord shall retain the existing
Security
Deposit in the amount of $46,695.60 for the Renewal Term.
E. Base Year shall be amended to 2007.
II. MISCELLANEOUS.
A. This Amendment sets forth the entire agreement between the
parties
with respect to the matters set forth herein. There have been
no
additional oral or written representations or agreements. Under
no
circumstances shall Tenant be entitled to any rent
abatement,
improvement allowance, leasehold improvements, or other work
to
the Premises, or any
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similar economic incentives that may hav
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