EXHIBIT 10.14
FIRST AMENDMENT OF SUBLEASE
AGREEMENT, made as of August 10, 1999, between THE PRUDENTIAL INSURANCE
COMPANY OF AMERICA, a New Jersey corporation, having an office at Xxx Xxxxxxx
Xxxxxx - 00xx Xxxxx, Xxxxxx, Xxx Xxxxxx 00000 (hereinafter "Sublessor") and
NETWORK MANAGEMENT SERVICES, INC., a Minnesota corporation, having its offices
at 0000 Xxxxxxx Xxxxxxxxx, Xxxxxx Xxxxxx, Xxxxxxxxx (hereinafter "Sublessee").
W I T N E S S E T H
WHEREAS:
A. Sublessor, as Tenant, and Minnesota CC Properties, Inc. (to whose
interest N.D. Properties, Inc. has succeeded) , as Landlord, entered into a
written lease dated December 31, 1993, covering approximately 29,422 rentable
square feet in the building located at 0000 Xxxxxxx Xxxxxxxxx, Xxxxxx Xxxxxx,
Xxxxxxxxx (" Building" ).
B. Sublessor and Sublessee entered into a written sublease dated March
19, 1997 (hereinafter "Sublease"), covering approximately 7,698 rentable square
feet (hereinafter "Subleased Premises") in the Building.
C. Sublessor and Sublessee desire to amend the Sublease to add to the
Subleased Premises approximately 13,694 rentable square feet (hereinafter
"Additional Space") in the Building, shown outlined and hatched in black on the
Floor Plan annexed hereto as Exhibit A.
NOW, THEREFORE, in consideration of the following mutual terms and
conditions, the Sublease is hereby amended as follows:
FIRST: Effective September 1, 1999 and for the balance of the term of
this Sublease to April 30, 2000:
(i) the Subleased Premises shall be enlarged to include
the Additional Space and the rentable square footage
of the Subleased Premises shall be increased by
13,694 rentable square feet from 7,698 rentable
square feet to 21,392 rentable square feet;
(ii) Sublessee's Percentage under Article 4 of the
Sublease, with respect to the Additional Space only,
shall be 100% of Landlord's additional rent billing
allocable to the Additional Space.
Sublessee's Percentage of 2% under Article 4 with
respect to the original Subleased Premises shall
continue; and
(iii) the annual Base Rent shall be $245,138.78 per annum,
payable in equal monthly installments of $20,428.23
per month, in advance on the 1st day of each month.
SECOND: Sublessee agrees to accept the Additional Space in "as is"
condition as of the date of this First Amendment. Sublessor shall have no
obligation to renovate or otherwise prepare the Additional Space for Sublessee's
occupancy, except to deliver the Additional Space in broom-clean condition.
THIRD: Except for the provisions of the First Amendment of Sublease.,
all the terms, covenants and conditions contained in the Sublease shall remain
in full force and effect.
FOURTH: Prudential agrees to pay the Keewaydin Group, Inc., $5,000 upon
signing of the sublease agreement as a brokerage commission for participation in
this transaction.
IN WITNESS WHEREOF, this First Amendment of Sublease has been executed
as of the day and year first above written.
SUBLESSOR:
WITNESS: THE PRUDENTIAL INSURANCE
COMPANY OF AMERICA
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxxx
------------------------------- -----------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: V.P., Corporate Real Estate
SUBLESSEE:
WITNESS: NETWORK MANAGEMENT SERVICES, INC.
By: /s/ Xxxxxx Xxx By: /s/ Xxxxx X. Xxxxxxxx
------------------------------- -----------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: CFO
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