EXHIBIT 10.26
FIRST AMENDMENT TO COMMERCIAL LEASE
This First Amendment to Commercial Lease (this "Amendment") is made and
entered into as of December 13, 1999, by and between ACLP University Park SA II,
L.P., a Texas limited partnership ("Lessor"), and Globalscape, Inc., a Texas
corporation ("Lessee") for the purposes more fully described below.
R E C I T A L S:
---------------
A. Lessor and Lessee are parties to that certain Commercial Lease (the
"Lease") dated as of April 13, 1999, wherein Lessor leased to Lessee the
Premises, as defined in the Lease;
B. Lessee and Lessor desire to amend the Lease as provided herein.
A G R E E M E N T:
-----------------
NOW THEREFORE, in consideration of the mutual covenants and agreements
herein contained and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Lessor and Lessee hereby amend the
Lease and Lessor and Lessee agree as follows:
8. Termination of Right of First Refusal Lessor and Lessee agree that
-------------------------------------
Section 1.07, Leasing Term Limitation on Adjacent Space and Right
of First Refusal, of the Lease, is hereby terminated and deleted in
its entirety and that Lessee has no further rights or claim to any
space in the Building other than the Leased Premises.
9. Leased Premises Lessee will take the Initial Space of 7,350 square
---------------
feet and the Must Take Space of 7,350 square feet upon the
Commencement Date of the Lease. The Leased Premises will comprise
14,700 total rentable square feet upon the Commencement Date.
10. Base Rent Section 1.04, Base Rent, Security Deposit, of the Lease
---------
is hereby deleted and replaced in its entirety with the following:
"1.04 Base Rent, Security Deposit. Base Rent is $15,888.25 net per
month based upon an assumed 14,700 rentable square footage in the
Leased Premises and shall be adjusted by $12.97 per rentable square
foot per year based on the recalculation under Section 1.02 above.
Security Deposit is $7,974.13."
11. Improvement Allowance Tenant Improvement Allowance is hereby
---------------------
increased from $22.00 per rentable square foot to $28.00 per
rentable square foot.
12. Amortization of Excess Improvement Allowance.
--------------------------------------------
(A) Lessor has increased Lessee's Improvement Allowance and, as a
result, hereby deletes in its entirety the third to last
sentence in Section 6.01(A) which reads, "Lessee shall be
responsible for payment in advance of all work and
construction resulting from changes in the Lessee
Improvements Final Plans and Specifications requested by
Lessee if the additional cost attributable to the changes
exceed the Improvement Allowance by more than $3.00 as
described in subparagraph (c) below." and replaces it with
the following:
"Lessee shall be solely responsible for payment in
advance of all work and construction resulting from
changes in the Lessee Improvements which exceed the
Improvement Allowance."
(B) The last two sentences of Section 6.01(C) are hereby
deleted in their entirety.
13. Miscellaneous
-------------
a. Capitalized Terms. Terms not otherwise defined herein shall
-----------------
have the meanings ascribed thereto in the Lease.
b. Effect of Amendment. Except to the extent the Lease is
-------------------
modified by this Amendment, the remaining terms and
provisions of the Lease shall remain unmodified and in full
force and effect. In the event of a conflict between the
terms of the Lease and the terms of this Amendment, the terms
of this Amendment shall prevail.
c. Entire Agreement. This Amendment, together with the Lease,
----------------
embodies this entire understanding between Lessor and Lessee
with respect to its subject matter and can be changed only by
an instrument in writing signed by Lessor and Lessee.
d. Counterparts. This Amendment may be executed in counterparts,
------------
each of which shall be deemed an original, but all of which,
together, shall constitute one and the same Amendment.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date and year first set forth above.
LESSOR: LESSEE:
ACLP UNIVERSITY PARK SA II, L.P., GLOBALSCAPE, INC.,
a Texas limited partnership a Texas corporation
By: ACLP University Park SA II, L.P.,
a Texas corporation,
its general partner By: ___________________________
Name ______________________
Title: ____________________
By: ________________________
Sue Shelton
Executive Vice President