Exhibit 10.10
Addendum to Lease Agreement
ADDENDUM TO LEASE AGREEMENT
BETWEEN STOCKING WORKS ASSOCIATES
AND
COLLAGENEX INC.
THIS TWO PAGE AGREEMENT, entered this day of August, 1997, by and between
Stocking Works Associates, a Pennsylvania Limited partnership (hereinafter
"Landlord") and Collagenex Inc., a Delaware Corporation, (hereinafter "Tenant")
provides:
1. Landlord and Tenant entered into a Lease Agreement dated September 5,
1995 ("the Lease Agreement") for the third floor at 000 Xxxxx Xxxxx Xxxxxx,
Xxxxxxx, XX, commencing on January 1, 1996, and terminating on December 31,
1996. Said lease was extended by Addendum for an additional one year period
commencing January 1, 1997 and terminating December 31, 1997.
2. Tenant now wishes to again extend said Lease Agreement for an additional
three (3) year period commencing January 1, 1998 and terminating on December 31,
2000 (the "extension period").
3. After the first year of said extension period in the event Tenant
requires additional space for expansion and Landlord is able to provide such
space at rental rates equal to or less than those then being paid by tenant (on
a square foot basis), Tenant hereby agrees that it will remain at the Stocking
Works provided said expansion space is acceptable to Tenant said acceptance not
to be unreasonably withheld. In the event Landlord is unable to provide said
expansion space and provided that Tenant has occupied the premises for at least
one of the three years of the extension period, then Tenant shall be permitted
to vacate the premises without penalty by simply providing Landlord six months
advanced written notice of its intention to do so.
4. Landlord hereby agrees to extend the term of said Lease Agreement as set
forth herein provided Tenant agrees to continue to be bound by the terms and
conditions set forth in the September 5, 1995 Lease Agreement.
INTENDING to be legally bound hereby, and for good and valuable consideration
herein recited and otherwise paid, the parties hereto set their hands and seals
the first date above written:
Addendum To Lease Agreement
page 2 of 2
WITNESS: LANDLORD:
Stocking Works Associates:
BY: /s/ Xxxxxxx X. Xxxxx, Xx.
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Xxxxxxx X. Xxxxx, Xx.
TENANT:
Collagenex Inc.
/s/ Xxxxx Xxxxx BY: /s/ Xxxxx X. Xxxxxxxxx
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