Exhibit 10.1
SECOND AMENDMENT TO AGREEMENT
OF LEASE
THIS SECOND AMENDMENT TO
AGREEMENT OF LEASE (this “Amendment”) is
made this 1st day of May, 2007, by ATRIUM BUILDING, LLC, a
Maryland limited liability company (“Landlord”) and
TESSCO TECHNOLOGIES, INC., a Delaware corporation
(“Tenant”).
W I
T N E S S E T H:
WHEREAS, Landlord
and Tenant entered into that Agreement of Lease dated November 3,
2003, as amended by that certain First Amendment to Agreement of
Lease dated January 23, 2007 (collectively, the
“Lease”), by the terms of which Tenant leases from
Landlord and Landlord leases to Tenant that certain premises
containing an agreed upon equivalent of 93,549 square feet of
rentable area (the “Premises”) within the office
building located at 375 West Padonia Road, Timonium, Maryland 21093
(the “Building”), all as more particularly described in
the Lease for a term which expires on November 30, 2007;
WHEREAS, Landlord
and Tenant mutually desire to extend the term of the Lease and to
amend the same with respect to the Base Rent and certain other
matters of the Lease, all as more particularly set forth below;
and
WHEREAS, all
capitalized terms used in this Amendment which are not defined
herein shall have the meanings given to them in the Lease, unless
the context otherwise requires.
NOW, THEREFORE, in
consideration of the above Recitals and the mutual covenants and
conditions contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby
acknowledged, Landlord and Tenant agree as follows:
1.
Extension of Term . Landlord and Tenant agree that the
Term of the Lease shall be extended for one (1) additional period
of five (5) years and one (1) month, commencing on December 1,
2007, and expiring December 31, 2012 (the “Second Renewal
Term”). Tenant’s rental of the Premises during
the Second Renewal Term shall be on the same terms, covenants and
conditions set forth in the Lease, provided, however, that Tenant
shall pay as Base Rent during the Second Renewal Term the amounts
set forth below:
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Monthly Installment
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Period of Second Renewal Term
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Annual Base Rent
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of Annual Base Rent
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12/1/07—11/30/08
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$
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1,496,784.00
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$
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124,732.00
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12/1/08—11/30/09
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$
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1,541,687.52
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$
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128,473.96
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12/1/09—11/30/10
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$
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1,587,938.15
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$
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132,328.18
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12/1/10—11/30/11
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$
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1,635,576.29
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$
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136,298.02
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12/1/11—11/30/12
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$
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1,684,643.58
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$
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140,386.96
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12/1/12—12/31/12
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$
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1,735,182.84
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*
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$
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144,598.57
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* The parties acknowledge that
th
