EXHIBIT 10.10
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE (the "Amendment") is made this 16th day of
April, 1999 between PEREGINE INVESTMENT PARTNERS - I, a Pennsylvania limited
partnership ("Landlord") and ITXC CORP. ("Tenant").
BACKGROUND
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Landlord and Tenant are parties to a Lease dated February 28, 1998 (the
"Lease") pursuant to which Landlord has agreed to lease and Tenant has agreed to
rent certain First Floor Space situate in Arbor 600 (the "Building"), 000
Xxxxxxx Xxxx Xxxx, Xxxxxxxxx Xxxxxxxxx Center, Plainsboro, New Jersey, as such
space is more particularly described in the Lease. Landlord and Tenant have
agreed to amend the Lease in accordance with the provisions set forth at length
below.
AGREEMENT
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NOW, THEREFORE, intending to be legally bound hereby, Landlord and Tenant
agree as follows:
1. Defined Terms. Except as otherwise expressly provided herein, the
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terms defined in the Lease shall have the meanings in this Amendment as in the
Lease.
2. Expansion Space. Landlord agrees to make available for leasing and
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occupancy by Tenant and Tenant agrees to rent from Landlord between June 1, 1999
and July 1, 1999, that portion of the First Floor of the Building shown on
Exhibit "A" as the "Expansion Space". Landlord shall deliver the Expansion
Space in its "as is" condition.
3. Size and Tenant's Allocated Share of Premises. The Premises shall be
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changed to include the Expansion Space whereupon the Rental Area of the Premises
shall be 22.043 square feet and Tenant's Allocated Share shall be 8.90%.
4. Term. The Term of the Lease with respect to the Expansion Space shall
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commence on the date of delivery thereof by Landlord to Tenant and shall expire
May 31, 2003 (the "Expansion Space Term").
5. Rent. Throughout the Expansion Space Term, the Basic Rent for the
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Premises shall be increased by $15,060.42 per month being calculated at the rate
of $25.00 per rentable square foot payable in accordance with the Lease and
prorated for any partial month. Tenant electric and Additional Rent for the
Expansion Space shall be payable in accordance with the provisions of the Lease
throughout the Expansion Space Term.
6. Termination Right Amendment. Section 24(b) is amended to provide as
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follows:
"Provided Tenant is not in default and this Lease shall be in effect,
Tenant may upon one hundred eighty (180) days prior written notice to
Landlord terminate this Lease with respect to the original Premises
(excluding the Expansion Space) at the end of the thirty-sixth (36th)
month of the Lease Term without payment or penalty."
7. Ratification. Except as expressly amended herein, the terms and
conditions of the Lease shall remain in full force and effect and Landlord and
Tenant expressly ratify and confirm those terms and provisions.
IN WITNESS WHEREOF, the parties have set their hands and seals as of the
date first above written.
LANDLORD:
PEREGRINE INVESTMENT PARTNERS - I,
A PENNSYLVANIA LIMITED PARTNERSHIP
By: Berwind Realty Services, Inc.
/s/ Xxxxxx Xxxxxx
By: ________________________________
Witness/Attest:
TENANT:
ITXC CORP.
/s/ Xxxxx X. Xxxxxxxx /s/ Xxxxxx X. Xxxxxx
By: ______________________________ By: ________________________________
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EXHIBIT "A"
DIAGRAM OF
FIRST FLOOR EXPANSION SPACE
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