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EXHIBIT 10.5
FIRST ADDENDUM TO LEASE
THIS FIRST ADDENDUM TO LEASE, made and entered into this 15th day of
October, 1999, by and between XXXX MANAGEMENT COMPANY, L.P., MANAGING AGENTS FOR
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA (hereinafter called "Lessor"), and
WEBTRENDS CORPORATION (hereinafter called "Lessee").
W I T N E S S E T H
WHEREAS by Lease Agreement dated November 20, 1998, (the "Lease"),
Lessee leased from Lessor certain premises located on the 12th, 7th, and 6th
floors of Pacific First Center, 000 Xxxxxxxxx Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxx
consisting of approximately 36,956 rentable square feet (the "Premises"),
WHEREAS the parties desire to modify certain provisions of the Lease,
NOW THEREFORE it is mutually agreed as follows:
1. PREMISES: On the Effective Date, as defined below the Premises shall
be modified to include, in addition to the space heretofore leased, 14,957
rentable square feet of space on the eighth floor known as suite 800 (the
"Expansion Space" ) as shown on the attached Exhibit A.
2. RENTAL: On the Effective Date, base rent for the Premises shall be
increased to include $24,305.13 per month for the Expansion Space, or a total of
$81,771.70 per month ($57,466.58 plus $24,305.13). On July 1, 2001 base rent for
the Premises shall be increased to $87,490.91 per month ($26,174.75 for the
Expansion Space and $61,316.16 for the Original Space). Such sums shall be
payable in advance without deduction or offset on the first day of each month.
3. ADDITIONAL RENT: Effective on the Effective Date Lessee's percentage
share for purposes of Additional Rent as defined in the Lease shall be increased
by 6.54% or a total of 22.76%. (16.22% + 6.54%). The Base Year for the Expansion
Space shall be 2000, the Base year for all prior space Leased shall remain 1999.
4. TENANT IMPROVEMENTS: Lessee accepts the Expansion Space in its "as
is" condition. Lessor will provide an allowance for improvements to the space of
up to a total of $187,411.00 ($12.53 psf), to include required work per Lessees
plans and specifications and shall be subject to Lessor's prior written
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approval, and shall include all costs for plans, specifications and all
necessary governmental approval, permit fees, etc., and meet building standard
construction and finishes, and is subject to all provisions of Lessor's standard
Work Letter. Should total costs of Lessee's required work exceed $187,411.00
such additional cost shall be completed by Lessor for Lessee's account. Lessee
agrees to provide Lessor on or before December 1, 1999 complete plans and
specifications of Lessee's required improvements to the Expansion Space. Lessor
will provide an estimate of the cost to complete the work outlined and Lessor
and Lessee shall agree on the scope of work and maximum estimated cost to
complete the work on or before 12/31/99.
5. This First Addendum to Lease is conditioned upon Lessor securing from
the existing eighth floor tenant a satisfactory Termination Agreement and the
existing eighth floor tenant vacating the eighth floor on or before 12/31/99.
Such agreement was executed by the eighth floor tenant on 11/4/99.
6. EFFECTIVE DATE: The "Effective Date" of this First Addendum to Lease
shall be March 1, 2000, provided that if Lessor is delayed in receiving
possession 12/31/99, the Effective Date will be deferred on a day-for-day basis.
7. PARKING: On the Effective Date Lessor agrees to allocate (3)
additional parking spaces in the Building garage, for a total of (13) spaces (10
+ 3), at the prevailing rate for parking in effect from time to time.
Except as specifically modified herein, all other terms, covenants and
conditions of the Lease, shall remain in full force and effect.
TIME IS OF THE ESSENCE OF THIS AGREEMENT.
IN WITNESS WHEREOF the parties hereto have signed and dated this First
Addendum to Lease in triplicate originals.
LESSEE: LESSOR:
WEBTRENDS CORPORATION XXXX MANAGEMENT COMPANY,
L.P., managing agents for
THE PRUDENTIAL INSURANCE
COMPANY OF AMERICA
BY: /s/ Xxxxx X. Xxxxxxxxxx BY: /s/
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Senior Portfolio Manager
DATE: 11/16/99 DATE: 11-22-99
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