Exhibit 10.34
Workshop Lease of
The Science Park Administration (1
Year)
Parties to this lease:
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Landlord:
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Science Park Administration (hereinafter
referred to as Party A)
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Tenant:
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Optronics International Corp. (hereinafter
referred to as Party B) A0327
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Whereas Party B falls into the category of
science park enterprises, research institutes, venture incubator
centers, branch offices of the administration authorities or
commercial or industrial service firms approved by Party A
consistent with Article 4 or Article 8 under the
Regulation Regarding the Establishment of the Science Park, and
Party A and Party B have agreed that Party A will lease a workshop
illustrated under Article 1 of this agreement that is located
in the Hsin Chu Science Park (hereinafter referred to as the
Workshop under this Agreement) for Party B’s use according to
the following terms and conditions:
Article 1
The Workshop under this Agreement is located on
the 2 nd Floor No. 46, 2 nd Road of Hsin Chu Science Park with an area
of 879 square meters.
Article 2
This lease shall remain in force for the period
from January 1, 2009 till December 31, 2009. Upon the
expiry date, this lease shall be terminated automatically unless
Party A and Party B conclude a separate lease under the provisions
of Article 4 of this lease. Party B is not allowed to ask for
the continuation of the lease or lease from time to time under any
circumstances.
Article 3
During the conclusion of this lease and its
existence, Party B shall at all times maintain its status as a
science park enterprise, a research institute, a venture incubator
centre, a branch office of the administration authorities or a
commercial or industrial service firms approved by Party A
consistent with Article 4 or Article 8 under the
Regulation Regarding the Establishment of the Science Park. Where
Party B fails to meet the above mentioned eligibilities at the time
of the signing of the lease, this lease shall be void and null.
Where Party B no longer maintains such eligibilities hereafter and
both Parties to this agreement agree to the immediate termination
of this lease, Party A is not required to notify such termination
of such legal forces.
Article 4
Party A shall have the right to mail out copies
of lease renewal for the extension of this lease one month before
the expiry of this lease.
Party B shall make it clear whether it wishes to
extend the lease or not after the expiry of such lease within 15
days after it receives the lease under the preceding paragraph. In
case it wishes to extend the lease, Party B shall affix its seal on
a copy of the lease renewal and attach related documents to be
delivered to Party A within the time limit prescribed
above.
Where Party B breaches any terms and conditions
of this lease during the term of this lease, Party A shall have the
right to ask Party B to fulfill notary procedures for the renewal
of lease by Party B at its own expense.
Article 5
Where Party B intends to terminate this lease
before its expiry during the term of this lease, it shall notify
Party A in writing 2 months in advance. Party B shall continue to
pay its rent during this 2 month notification period, regardless if
it vacates the Workshop under this Agreement.
Party A shall have the right to terminate this
lease by way of notification to Party B in writing 2 months in
advance at any time if it is required by any changes in law or
government policies.
[illegible seal]
1
Article 6
The rent for the Workshop under this Agreement
shall be NT$104,601 per month. Party B shall, from the date of the
commencement of this lease, download the form for next month rent
payment from Party A’s website on its own (website:
www.sipa.gov.tw), and shall make the payment of its rent to Party A
before the 15 th
day of every month according
to the procedures of rent payment established by Party A while
calculating and payment the business tax separately. Party B shall
pay its utility bills separately while paying the rent.
Party A shall have the right to, consistent with
the provisions of related laws and regulations, announced land
prices of the location of the Workshop under this Agreement as well
as any adjustments in the rent of state-owned land approved by the
Executive Yuan, modify the amount of rent mentioned above. Party B
shall pay attention to the announced land prices and adjustments in
the rent of state-owned land approved by the Executive Yuan on its
own.
Any adjustment of rent mentioned above shall
enter into force in the second month after such announced land
prices or adjustments in the rent of state-owned land prices. Any
differences between the rent already paid and actual adjustments
before Party A completes its website updates under paragraph 1
shall be collected or refunded.
Article 7
Party B shall pay penalties according to the
following provisions if it fails to pay its rent and utility bills
on time:
1.
It shall pay penalties equal to 2%
of the total amount due if its rent and utility bills are less than
1 month overdue;
2.
It shall pay penalties equal to 5%
of the total amount due if its rent and utility bills are more than
1 month but less than 2 months overdue;
3.
It shall pay penalties equal to 10%
of the total amount due if its rent and utility bills are more than
2 months but less than 3 months overdue;
4.
It shall pay penalties equal to 15%
of the total amount due if its rent and utility bills are more than
3 month overdue.
Article 8
Party B shall pay a deposit of NT$220,189 to
Party A, which is equivalent to 3 months’ rent at the time of
the conclusion of the lease, in order to ensure that it will
perform all the terms and conditions under this lease. Party B
shall pay this lease deposit on the date of the signing of the
lease and Party A shall issue a receipt accordingly. The amount of
the lease deposit shall not be modified even if the rent is
adjusted or this lease is extended or prolonged.
Upon the termination or expiry of this lease and
where Party B returns the Workshop under this Agreement without any
unpaid rents, utility bills or any breach of contract, Party A
shall return the lease deposit without any interest.
Party B is not allowed to compensate its rent
with the deposit.
Article 9
The Workshop under this Agreement rented by
Party B shall be limited to its own purposes of research,
production or operations and is not allowed to be sub-leased,
transferred or in any way assigned to any other party for use. It
is further not allowed to make use of it against laws and
regulations. However, upon prior consent by Party A in writing,
Party B shall have the right to sublease part of the Workshop under
this Agreement to other enterprises or agencies approved by Party
A.
Article 10
Party B shall excise due care to maintain the
Workshop under this Agreement and its facilities and shall be
responsible for keeping its surroundings clean.
Party B shall not pile any articles in the
attics, stair wells, basement of the building of the Workshop under
this Agreement or any other public space or engage in any acts that
contravene public safety. In case of any pile, Party B shall hire
workers to remove the pile
