Exhibit 10.10
CANCELLATION OF LEASE
THE STATE OF TEXAS }
COUNTY OF XXXXXX }
WHEREAS, on June 2, 1998, INDUSTRIAL PROPERTIES CORPORATION, as
Landlord, and SI DIAMOND TECHNOLOGY, INC., as Tenant, made and entered into a
Lease Agreement on the following described premises, to wit:
Approximately 9,667 square feet of space located at 0000 Xxxxxxxx
Xxxxxxxxx, Xxxxxx 000, 000, xxx 000, Xxxxxx, Xxxxxx Xxxxxx, Xxxxx,
situated on lot 1, block B, resubdivision of Industrial Terrace,
section 3,
WHEREAS, said Lease Agreement was extended and amended by a Lease
Extension and Amendment Agreement dated
May 5, 2003.
WHEREAS, it is the desire of the undersigned parties hereto that said
Lease Agreement be cancelled and terminated as of
February 14, 2004.
NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS:
That INDUSTRIAL PROPERTIES CORPORATION, Landlord, and SI DIAMOND
TECHNOLOGY, INC., Tenant, for valuable consideration by each paid to the other
have covenanted and agreed, and do hereby covenant and agree that:
1. Said Lease Agreement shall be and the same is hereby cancelled
and is of no further effect after February 14, 2004.
2. It is further understood that none of the parties shall have
any further obligation under such instrument after such date
except that Tenant will be responsible for payment to Landlord
of the increase in real estate taxes, if any, as provided for
in Paragraph 5 of the Lease Agreement and the increase in the
maintenance and use charge, if any, as provided for in
Paragraph 6 of the Lease Agreement, and any repairs that might
be necessary as provided for in Paragraph 7 of the Lease
Agreement.
IN TESTIMONY WHEREOF, the parties hereto have signed the Cancellation
of Lease, in duplicate, this 6th day of February, 2004.
INDUSTRIAL PROPERTIES CORPORATION
By: /s/ Xxx Xxxxxxx, Xx.
------------------------------------
Xxx Xxxxxxx, Xx.
------------------------------------
Printed Name
Its: Executive Vice President
------------------------------------
Title
SI DIAMOND TECHNOLOGY, INC.
By: /s/ Xxxxxxx X. Xxxxx
------------------------------------
Xxxxxxx X. Xxxxx
------------------------------------
Printed Name
Its: Chief Financial Officer
------------------------------------
Title
