Exhibit 10.1
THIRD AMENDMENT TO
LEASE
THIS THIRD AMENDMENT TO LEASE (
“Amendment” ) effective as of June 1, 2009
by and between Aerospace/Defense , Inc., a South Carolina
corporation (hereinafter call the “Landlord” )
and Force Protection Industries , Inc. and Force
Protection , Inc., Nevada corporations (collectively, the
“Tenant” ).
RECITALS
A.
By Industrial Lease effective as of
September 2, 2003, the Landlord leased unto Tenant certain
premises known as Building No. 3 situated in an industrial
project (the “ Project ”) located in Ladson
(Charleston County), South Carolina, which instrument was amended
by Letter executed on July 18, 2006 and by Second Amendment to
Lease effective as of July 1, 2007 (the “Second
Amendment” ). The Industrial Lease as amended by
the July 18, 2006 Letter and Second Amendment shall
hereinafter be referenced as the “ Lease
.” Each capitalized term used and not otherwise defined
or modified herein shall have the meaning ascribed thereto in the
Lease.
B.
By Letter dated December 22,
2008, the Tenant notified the Landlord that the Tenant did not
desire to exercise its option to extend the Lease for the first
Option Period pursuant to Section 2C; the Tenant now desires
to exercise its option to extend the Term of the Lease for the
first Option Period (due to expire on June 30, 2014) and the
Landlord has agreed to such extension.
C.
The Landlord and Tenant now wish to
enter into this Amendment to amend and extend the Lease according
to the terms, provisions and conditions hereinafter set
forth.
NOW THEREFORE, in consideration of
the mutual promises given one to the other, the parties do hereby
covenant and agree to amend and modify the Lease as
follows:
1.
All the recitals set forth above in
the “Recitals” clauses are hereby made an integral part
of this Agreement.
2.
No
