Exhibit 10.42
SIXTH AMENDMENT TO LEASE
This Agreement made this 16th day of July, 1998, by and between Thomas J.
Flatley d/b/a The Flatley Company (hereinafter referred to as LANDLORD), and
Ibis Technology Corporation (hereinafter referred to as TENANT),
WITNESSETH:
WHEREAS, by a certain Lease Agreement dated December 22, 1987, as amended
by a First Amendment to Lease dated July 19, 1990, a Second Amendment to
Lease dated August 2, 1991, a Third Amendment to Lease dated March 17, 1992,
a Fourth Amendment to Lease dated March 7, 1994, and a Fifth Amendment to
Lease dated February 21, 1997 (hereinafter collectively referred to as the
"Lease"), LANDLORD leased to TENANT, a certain premises described as Cherry
Hill Commerce Center, 32A and 32B Cherry Hill Drive, Danvers, MA 01923,
consisting of approximately 27,120 square feet of space, more particularly
described therein as ("Premises", "Expansion Premises 1", "Expansion Premises
2", and "Expansion Premises 4", respectively), and,
TENANT wishes to lease from LANDLORD, and LANDLORD wishes to lease to
TENANT, an additional 9,600 square feet of space, commencing upon the Sixth
Amendment to Lease Commencement Date (hereinafter defined) which includes a
0% common area factor, located at Cherry Hill Commerce Center, 26-42 Cherry
Hill Drive, Danvers, MA 01923, as outlined on Exhibit "A-7", attached hereto
and made part a hereof (hereinafter referred to as "Expansion Premises 6").
LANDLORD and TENANT desire to amend the Lease to reflect this and certain
additional changes which have been agreed to by the parties, and all changes
as set forth below shall become effective on the Sixth Amendment to Lease
Commencement Date (as hereinafter defined).
NOW, THEREFORE, for valuable consideration, the receipt of which is
hereby acknowledged each to the other, the above named parties do hereby
agree to amend said Lease as follows:
1. The description of TENANT'S Premises as set forth in Section 1 of the
Lease, Incorporation of Basic Data, namely Premises, is hereby
amended in part, as follows:
... 36,720 square feet of space, being the approximate size of the
Premises and the basis on which Annual Rent and Additional Rent shall
be paid by TENANT to LANDLORD, in the building located at Cherry Hill
Commerce Center, 32A and 32B Cherry Hill Drive, Danvers, MA 01923...
2. The term of this Sixth Amendment to Lease shall commence on May 1,
1998 (hereinafter referred to as the "Sixth Amendment to Lease
Commencement Date"), and shall be coterminous with the Lease and,
therefore, shall terminate on December 31, 2003.
LANDLORD and TENANT agree to execute a Supplemental Agreement setting
forth the actual Occupancy and Term Dates, once the same have been
established.
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3. Effective May 1, 1998, Section 1 of the Lease, Incorporation of Basic
Data, namely Annual Rent, shall be deleted in its entirety and
replaced with the following:
The TENANT agrees to pay to LANDLORD, without deduction or offset,
rent at the rate of TWO HUNDRED FORTY-SEVEN THOUSAND EIGHT HUNDRED
SIXTY AND 00/000 ($247,860.00) Dollars, payable in advance on the first
day of each month, in equal monthly installments of TWENTY THOUSAND
SIX HUNDRED FIFTY-FIVE AND 00/000 ($20,655.00) Dollars, for the
period commencing May 1, 1998 and continuing through and including
December 31, 1999 and at that rate for any fraction of a month; and
The annual rent for the period commencing January 1, 2000 and
continuing through and including December 31, 2001, shall be TWO
HUNDRED FORTY-SEVEN THOUSAND EIGHT HUNDRED SIXTY AND 00/000
($247,860.00) Dollars annually, which shall be adjusted to reflect
the percentage increase, if any, of The Consumer Price Index for
Urban Wage Earners and clerical Workers, all cities average,
(1982-84=100) issued by the U.S. Department of Labor, or such other
costs as may be hereafter substituted by the United States Department
of Labor for The Consumer Price Index. If there is an upward change
thereof from the Commencement Date of this Lease, to December 31,
1999, then the annual rent during this period shall be increased in
accordance with such adjusted value of the dollar, but in no event
shall such rent be less than the last annual rent paid by TENANT to
LANDLORD; and
The annual rent for the period commencing January 1, 2002 and
continuing through and including December 31, 2003, shall be TWO
HUNDRED FORTY-SEVEN THOUSAND EIGHT HUNDRED SIXTY AND 00/000
($247,860.00) Dollars annually, which shall be adjusted to reflect the
percentage increase, if any, of The Consumer Price Index for Urban
Wage Earners and Clerical Workers, all cities average, (1982-84=100)
issued by the U.S. Department of Labor, or such other costs as may be
hereafter substituted by the United States Department of Labor for
The Consumer Price Index. If there is an upward change thereof from
January 1, 2000 to December 31, 2001 of this Lease, then the annual
rent during this period shall be increased in accordance with such
adjusted value of the dollar, but in no event shall such rent be
less than the last annual rent paid by TENANT to LANDLORD.
Pursuant to Paragraph 5 of the Fifth Amendment to Lease, LANDLORD
agrees to apply TENANT'S Option Payments, to TENANT'S account and
therefore the Rent for said Expansion Premises 6 shall commence at
such time as the Option Payments have been fully recaptured.
4. LESSEE acknowledges that it has examined and inspected the Premises
and is familiar with the physical condition thereof. LESSEE further
acknowledges (1) that LESSOR has not made and does not hereby make
any representations regarding the physical condition of the Premises
and (2) that there are no warranties, either expressed or implied,
regarding the condition of the Premises. Any such warranties which
may exist, are hereby expressly released and waived. Accordingly,
LESSEE hereby agrees to accept the Premises in their "as is"
condition.
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5. Effective upon a fully-executed Sixth Amendment to Lease, Section 41
of the Lease, namely TENANT'S Option to Expand, shall be deleted in
its entirety and be of no further force or effect.
6. Except where this Sixth Amendment to Lease specifically changes same,
all other terms, conditions and covenants of the original Lease
Agreement shall remain the same, where applicable, and are hereby
reaffirmed.
7. The submission of this document for examination and negotiation does
not constitute an offer, and this document shall become effective and
binding only upon the execution thereof by both LESSOR and LESSEE,
regardless of any written or verbal representation of any agent,
manager or other employee of LESSOR to the contrary. All
negotiations, consideration, representations and understandings
between LESSOR and LESSEE are incorporated herein and the Lease and
this Amendment expressly supersede any proposals or other written
documents relating hereto. The Lease and this Amendment may be
modified or altered only by written agreement between LESSOR and
LESSEE, and no act or omission of any employee or agent of Lessor
shall alter, change or modify any of the provisions thereof.
IN WITNESS WHEREOF, the parties hereto have signed and sealed this
instrument on the day and year first above written.
LANDLORD Thomas J. Flatley d/b/a
The Flatley Company
/s/ Sara Capacciola /s/ Thomas J. Flatley
- --------------------------- ----------------------------
WITNESS By Thomas J. Flatley
Its President
TENANT Ibis Technology Corporation
/s/ Nancy A. Bailey /s/ Debra L. Nelson
- --------------------------- ----------------------------
WITNESS By
Its Chief Financial Officer
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COMMONWEALTH OF MASSACHUSETTS )
) SS.
COUNTY OF NORFOLK )
July 16, 1998
Then personally appeared Thomas J. Flatley to me known to be the
individual who acknowledged himself to be the President of The Flatley
Company, LANDLORD, and that he, as such, being authorized to do so, executed
the foregoing instrument and acknowledged the execution thereof to be his
free act and deed for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal at Norfolk
County, Braintree, Massachusetts, this 16th day of July, 1998.
/s/ Francesca Austin
-----------------------------------------
Notary Public
My commission expires:
My Commission Expires September 4, 2003
STATE OF Massachusetts )
) SS.
COUNTY OF Essex )
June 30, 1998
Then personally appeared Debra L. Nelson to me known to be the individual
who acknowledged herself to be the C.F.O. of Ibis Technology Corporation,
TENANT, and that she, as such, being authorized to do so, executed the
foregoing instrument and acknowledged the execution thereof to be her free
act and deed for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal at Essex
County, Danvers, Massachusetts, this 30th day of June, 1998.
/s/ Nancy A. Bailey
-----------------------------------------
Notary Public
My commission expires:
My Commission Expires
February 19, 2004
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EXHIBIT "A-7"
Floor Plan - Expansion Premises 6
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