OFFICE SPACE SUBLEASE
This office
space sublease (the “Sublease”) is made between Shrink
Technologies, Inc., a California corporation (“Tenant”)
and Business Consulting Group Unlimited, Inc.
(“Sublessor”).
Recitals
A. Sublessor
leases, the building commonly identified as 2038 Corte del Nogal,
Suite 110, Carlsbad, California 92011 (the
“Premises”).
B. Sublessor
desires to sublease certain office space and improvements (the
“Executive Office Space”) situated within the
Premises.
C. Tenant
desires to rent the Executive Office Space.
D. The
Executive Office Space shall include the following furnishings
& accessories:
1. Internet,
phone and fax systems, satellite T.V. connections, office furniture
and all office, storage, common restroom, kitchen and designated
parking areas.
NOW,
THEREFORE , for good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Sublessor and Tenant agree upon the terms and
conditions set forth herein.
Section 1
Term and Required
Notice
(a) Sublessor
hereby subleases to Tenant, and Tenant hereby subleases from
Sublessor the Executive Office Space commencing as of May 28, 2009
and one year thereafter. Holding over by Tenant at
the expiration of the Sublease Term shall create a month to month
tenancy. All other terms and conditions herein shall
remain in full force and effect.
Section 2
Rent, Expenses and
Payment
(a)
Tenant agrees to pay to Sublessor without set-off, abatement,
credit, deduction or claim of off-set, monthly ("Rent") for the
Executive Office Space of six thousand dollars ($6,000) per
month. Rent shall be payable in advance, on the first
day of each month during the Sublease Term, at the address of the
Premises set forth above or at such other address as
Sublessor may from time to time designate by notice to
Tenant. In the event the Sublease Term commences or
expires on any day other than the first or last day of a month,
respectively, then the Rent for such month shall be prorated
accordingly.
(b) In
addition to the payment of Rent, Tenant agrees to pay to Sublessor
the following office expenses which shall be itemized and
calculated on a monthly basis by Sublessor, including, but not
limited to:
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Fax charges
including ink cartridges and paper;
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Postage &
Overnight delivery;
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Stationary and
office supplies; and
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Section 3
No Assignment or
Subletting
Tenant shall
not sublet the Premises, or any portion thereof, or assign this
Sublease, in whole or in part, without the prior written consent of
Sublessor.
Section 4
Lease Provisions
Except as
otherwise expressly herein provided or modified by this Sublease
(including, without limitation, the limitations on Tenant's
monetary obligations under this Sublease), Tenant hereby assumes
and agrees to fully adhere to, perform and comply with the
covenants, agreements, duties and obligations of the
Lessee under the rules and regulations of the master lease,
attached as Exhibit A. Each of such covenants,
agreements, duties and obligations is incorporated as if fully
rewritten herein.
Section 5
Condition of
Premises
Tenant agrees
and acknowledges that it is accepting the Executive Office Space
from Sublessor in its present condition and that Sublessor is not
presently obligated to make any improvements for Tenant.
Section 6
Subordination
Tenant
acknowledges and agrees that this Subl