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EXHIBIT 10
THIRD AMENDMENT TO INDUSTRIAL BUILDING LEASE
THIS THIRD AMENDMENT TO INDUSTRIAL BUILDING LEASE (this
"Agreement") is entered into as of July 16, 2007 by and between
BROWN PELICAN LLC ("BP") and inTEST CORPORATION ("inTEST").
RECITALS:
WHEREAS, First Industrial, L.P. ("FILP"), as landlord,
and inTEST, as tenant, entered into that certain Industrial
Building Lease dated June 6, 2000 (the "Original Lease") relating
to 80,000 square feet of space (the "Original Leased Premises") in
the building known as 3 Computer Drive, Cherry Hill Industrial
Park, in Cherry Hill Township, NJ (the "Building"), which Original
Leased Premises is more particularly described in the Original
Lease;
WHEREAS, the Original Lease was amended by that certain
First Amendment to Lease dated as of October 2, 2000 (the "First
Amendment"), pursuant to which, among other things, the Original
Leased Premises were expanded to 121,700 square feet through the
addition of 41,700 square feet of additional space in the Building
(the "Additional Leased Premises");
WHEREAS, the Original Lease was further amended by that
certain Second Amendment to Lease dated December 23, 2003 (the
"Second Amendment") at which time the parties to the Second
Amendment also executed and delivered to one another a Settlement
Agreement dated as December 23, 2003 (the "Settlement Agreement").
The Original Lease, as amended by the First Amendment and the
Second Amendment, together with the Settlement Agreement, are
collectively referred to herein as the "Lease Agreement");
WHEREAS, FILP, as assignor, and 7 Esterbrook Lane, LLC
("Esterbrook") entered into that certain Assignment and Assumption
of Leases dated as of December__, 2003 pursuant to which FILP
assigned all of its right, title and interest as landlord in and to
the Lease Agreement to Esterbrook and Esterbrook assumed all of the
obligations of landlord in, to and under the Lease Agreement and
arising subsequent to the date of said assignment;
WHEREAS, Esterbrook, as assignor, and BP entered into
that certain Assignment and Assumption Agreement dated as of
December 30, 2004 pursuant to which Esterbrook assigned all of its
right, title and interest as landlord in and to the Lease Agreement
to BP and BP assumed all of the obligations of landlord in, to and
under the Lease Agreement and arising subsequent to the date of
said assignment; and
WHEREAS, inTEST has requested that BP take back the
Additional Leased Premises and BP has agreed to do so, subject to
the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the premises, the
mutual covenants hereinafter set forth and other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties intending to be legally bound hereby
agree as follows:
1. Incorporation of Recitals .
Each of the foregoing recitals is incorporated herein at length as
if fully set forth herein.
2. Removal from the Additional Leased
Premises . inTEST covenants and agrees to fully vacate and
surrender possession and control of the Additional Leased Premises
to BP on or before October 15, 2007 in accordance with the terms
and conditions hereinafter set forth as if said date were the date
set forth in the Lease Agreement for the expiration of its term
(the "Condition Precedent"). Without limiting the generality of the
foregoing, inTEST shall remove all furniture, equipment and other
personal property located in the Additional Leased Premises,
deactivate the security system currently serving the Additional
Leased Premises, repair all
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