EXHIBIT 10AN
THIRD AMENDMENT TO LEASE
BETWEEN
NEW AVON LIMITED PARTNERSHIP
AND
HAEMONETICS CORPORATION
New Avon Limited Partnership ("Landlord") and Haemonetics Corporation
("Tenant") hereby amend the Lease between the Landlord and Tenant, dated as of
July 29, 1997, as amended by a First Amendment to Lease dated August 31, 2002,
and a Second Amendment to Lease dated February 10, 2004 (the "Lease").
Whereas, Landlord and Tenant have reached certain agreements regarding
Tenant's extension of the Lease and expansion into adjacent premises;
Now Therefore, for good, lawful and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, and notwithstanding anything in
the Lease to the contrary, the Landlord and Tenant hereby agree as follows:
1. Each of the First Amendment to Lease dated August 31, 2002 and the
Second Amendment to Lease date February 10, 2004 are hereby terminated and of no
force and effect.
2. The Lease Term under the Lease is hereby extended from December 1, 2002
to November 30, 2007 (the "Extended Term")and the Lease Termination Date, as set
forth in the Lease Information Page shall be November 30, 2007.
3. Tenant shall lease from Landlord certain premises adjacent to the
Demised Premises (shown as the "Additional Space" on the attached Exhibit "A")
comprising approximately 13,000 square feet, such that Tenant can take occupancy
of the Additional Space as of May 1, 2004, and from and after said May 1, 2004,
the Demised Premises shall include the Additional Space.
4. Annual Rent for the Demised Premises for the Extended Term, effective
as of December 1, 2002, and terminating on November 30, 2007, shall be as
follows:
Calendar Period Annual Rent Monthly Rent
--------------- ----------- ------------
12/1/02-2/28/03 $208,800.00 $17,400.00
3/1/03-2/29/04 $218,400.00 $18,200.00
3/1/04-4/30/04 $228,000.00 $19,000.00
5/1/04-2/28/05 $289,750.00 $24,146.00
3/1/05-2/28/06 $301,950.00 $25,163.00
3/1/06-2/28/07 $317,200.00 $26,433.00
3/1/07-11/30/07 $329,400.00 $27,450.00
Rent is due and payable on the first day of the month without notice or demand.
5. Tenant's Share of the Real Estate Taxes and Operation Cost (as set
forth in the Lease Information Page), shall remain at 31.47% through April 30,
2004, and thereafter shall be 40.09%.
6. Tenant's Initial Estimated Monthly Payment on Account (as set forth in
the Lease Information Page) shall be $2,282.00 for Real Estate Taxes and
$2,675.00 for Operating Cost through April 30, 2004, which amounts will increase
as of May 1, 2004 (currently estimated to be $3,338.00 and $3,943.00,
respectively).
7. When the Additional Space becomes part of the Demised Premises, the
Additional Space shall be delivered to Tenant, in "as is, where is" condition,
and broom clean.
8. Tenant acknowledges that Landlord's obligations under this Lease are
conditioned upon the following occurring (i) execution and delivery of a new
lease between Landlord and X.X. Xxxxxxx, Inc. upon terms acceptable to Landlord
in its sole discretion, and (ii) execution and delivery of an amendment and
restatement of lease termination agreement between Landlord and X.X. Xxxxxxx,
Inc. upon terms acceptable to Landlord, in its sole discretion. In the event any
one of (i) or (ii) does not occur, Landlord may, at its sole option, terminate
this Amendment by written notice given to Tenant, and the same shall be void and
of no force and effect.
10. In all other respects the Lease is ratified and confirmed and in full
force and effect.
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Executed as a third amendment of lease under seal on this 15th day of
March, 2004.
LANDLORD: TENANT:
New Avon Limited Partnership Haemonetics Corporation
by New Avon Development Corp.
its general partner
By: s/Xxxxxxxx X. Xxxxxxxxxx By: s/Xxxx Xxxxxx
------------------------------- ---------------------------------
Xxxxxxxx X. Xxxxxxxxxx, Xxxx Xxxxxx, President
President duly authorized
duly authorized
Date: 3/15/2004 Date: 3/15/2004
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