Exhibit 10.9
ADDITIONAL SPACE
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE made this 7th day of March, 1996, by and
between ELIZABETHEAN COURT ASSOCIATES III LIMITED PARTNERSHIP, a Maryland
limited partnership (hereinafter "Landlord"), and SYTEL, INC., a Maryland
corporation (hereinafter "Tenant").
WITNESSETH:
WHEREAS, Landlord and Tenant desire to amend that certain lease agreement
dated September 27, 1995 (the "Lease"), which provides for the leasing of Suite
400, consisting of approximately 11,554 square feet on the fourth (4th) floor of
the Xxxxxxxxxxxx Building, located at 0000 Xxxxxxxxx Xxxxx, Xxxxxxxx, Xxxxxxxx
for a term expiring May 31, 2001; and
WHEREAS, Tenant desires to lease an additional area of 5,784 square feet on
the fourth (4th) floor of said building known as Xxxxx 000-X, as delineated on
the attached plan.
NOW, THEREFORE, the parties hereto agree as follows:
1. Area. Landlord hereby leases to Tenant and Tenant leases from
Landlord, Xxxxx 000-X, containing approximately 5,784 square feet of additional
space on the fourth (4th) floor (the "Additional Leased Space"), making the
total demised premises 17,338 square feet.
2. Term. The term of the Additional Leased Space shall commence May 1,
1996 and shall expire contemporaneously with the term of the Lease.
3. Rent. The base monthly rent for the Additional Leased Space shall
be Eight Thousand Seven Hundred Ninety-Six and 50/100 Dollars ($8,796.50),
thereby increasing the total base monthly rent from Seventeen Thousand Five
Hundred Seventy-One and 71/100 Dollars ($17,571.71) to Twenty-Six Thousand Three
Hundred Sixty-Eight and 21/100 Dollars ($26,368.21), payable in advance in
accordance with the terms of the Lease.
4. Additional Rent. Tenant's pro rata share of any increases in real
estate taxes and operating expenses commencing May 1, 1997, shall be increased
by Four and Forty-One Hundredths (4.41) percentage points from 9.81% to 14.22%.
5. Acceptance of Space. Tenant accepts the Additional Leased Space in
its existing "as is" condition and shall be obligated for the payment of rent
hereunder on May 1, 1996, regardless of any time required to construct, alter or
redecorate the Additional Leased Space to Tenant's requirements. Landlord
warrants that the perimeter HVAC convectors in the Additional Leased Space are
operational. Landlord and Tenant shall conduct a walk-through inspection of the
Additional Leased Space prior to occupancy and Landlord shall complete any
punch-list items, excluding sprinklering work, as agreed by Landlord and Tenant
within thirty (30) days of Tenant's occupancy.
6. Parking. In accordance with the terms of the original Lease,
Landlord agrees to arrange for parking in the garage of the building for up to
twenty (20) additional automobiles of Tenant or Tenant's employees at the
prevailing monthly rate for such service thereby increasing Tenant's parking
allocation from forty (40) to sixty (60) automobiles.
7. Landlord's Contribution. Provided Tenant is not then in monetary
default of any of the terms or conditions of the Lease beyond any applicable
cure period, Landlord agrees to contribute the sum of up to Eighty Thousand One
Hundred Sixty-Six and 24/100 Dollars ($80,166.24) toward the cost of Tenant's
remodeling, which amount Tenant shall receive in the form of a credit toward
remodeling expenses
owed by Tenant to Landlord's contractors. Provided Tenant is not then in default
of any of the terms or conditions of this Lease, at Tenant's option, any unused
portion of the aforesaid Landlord's contribution of Eighty Thousand One Hundred
Sixty-Six and 24/100 Dollars ($80,166.24) may be applied by Tenant toward rent
due hereunder, apportioned equally and applied each month over the term for the
Additional Leased Space. In addition to the foregoing, Landlord shall pay for
all associated architectural, mechanical, electrical and plumbing drawings
required for the remodeling of the Additional Leased Space. Landlord shall also
pay for installation of a sprinkler system.
8. General Contractors. Landlord and Tenant shall agree upon a list of
acceptable general contractors who will bid for Tenant's remodeling of the
Additional Leased Space. Tenant shall have the right to review and verify all
bids. All costs incurred pursuant to Tenant's construction documents,
construction contracts and awards, and for bonds, cleaning and permits, etc.,
and all costs of Tenant's General Contractor (including overhead and profit),
and all subcontractor costs may be reimbursed from Landlord's contribution,
provided that in no event shall the total costs reimbursed, if any, exceed
Eighty Thousand One Hundred Sixty-Six and 24/100 Dollars ($80,166.24).
9. Execution of Document. In the event Tenant does not execute and
return this document by the close of business on February 25, 1996, then
Landlord may market the subject space to others without further notice to
Tenant.
All of the terms and conditions of the Lease, as modified by this First
Amendment to Lease, shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
duly executed as of the day and year hereinbefore first written.
WITNESS: LANDLORD: ELIZABETHEAN COURT ASSOCIATES
III LIMITED PARTNERSHIP
By: Xxxxxxxxxxxx Building Corporation,
General Partner
/s/ BY /s/ Xxxx X. Xxxxxxxx
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Xxxx X. Xxxxxxxx
President
ATTEST: TENANT: SYTEL, INC.
/s/ BY /s/ Xxxxxxxxx X. Xxx
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Xxxxxxxxx X. Xxx
President & CEO
