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Exhibit
10.23
SECOND AMENDMENT TO
LEASE
Effective the 15
th day of August, 2006, PARADIGM RESOURCES, L.C.,
a Utah limited liability company (hereinafter
“Landlord”) and AMEDICA CORPORATION, a Delaware
corporation (hereinafter “Tenant”) enter into the
following agreement:
RECITALS:
WHEREAS, Landlord and Tenant
entered into that certain Lease Agreement dated March 22, 2004
(hereinafter “Lease”), for Suite 302, located at 615
Arapeen Drive, in the City of Salt Lake, County of Salt Lake, State
of Utah (hereinafter “Leased Premises”); and
WHEREAS, Landlord and Tenant
desire to lease Suite 305 as additional space to Tenant
(hereinafter “Additional Space”); and
WHEREAS, Landlord and Tenant
desire to recalculate and update the pro rata share and load factor
based on the current configuration of the overall square footage of
the building; and
WHEREAS, Landlord and Tenant
desire to modify the Lease as follows:
AGREEMENT:
NOW, THEREFORE, in
consideration of the mutual covenants herein contained, and other
good and valuable consideration, it is covenanted and agreed
between the parties that the Lease be modified and amended as
follows:
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1. |
Section 1.01(1) PREMISES of the Lease is stricken in its
entirety and restated as follows: “That portion of the
building at the approximate location outlined on Exhibit
“A” known as Suite 302 consisting of approximately
6,371 square feet of gross rentable area, and Suite 305 consisting
of approximately 3,134 square feet of gross rentable area for an
overall total of 9,505 square feet of gross rentable area.
Approximately 16.5288% of such area is Tenant’s proportionate
share of common area hallways, restrooms, etc. in the
building.” |
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2. |
BASE MONTHLY RENT from and after the date of this Agreement
shall be as follows: Sixteen Thousand Five Hundred Twenty-Four and
56/100 Dollars ($16,524.56). |
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3. |
Base Monthly Rent shall thereafter escalate as follows:
“$17,020.30 monthly, commencing September 1, 2006;
$17,530.90 monthly, commencing September 1, 2007; $18,056.83
monthly, commencing September 1, 2008.” |
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4. |
Section 1.01(O) TENANT’S PRO RATA SHARE OF OPERATING
EXPENSES shall be stricken in its entirety and restated as follows:
“Tenant shall be responsible for all operating expenses as
defined in Section 3.03. Tenant’s proportionate of Basic
Costs shall be 10.59%. Said operating expenses include Basic Costs,
Direct Costs, and Metered Costs as defined in Section 3.03 and
are currently estimated to be $5.50 per square foot or
$4,356.46/month. |
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5. |
LANDLORD CONTRIBUTION TO TENANT’S WORK: Landlord shall
contribute an amount not to exceed Fifteen Thousand Forty-Three and
20/100 Dollars ($15,043.20) toward Tenant’s cost of
improvements in the Additional Space, to b |
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