FIFTH AMENDMENT (EXTENSION TO THE LEASE)

Exhibit 10.4

FIFTH AMENDMENT (EXTENSION TO THE LEASE)

THIS Amendment (hereinafter referred to as the “Fifth Amendment”), dated the 18th day of April 2024, is entered into by ACCURIDE INTERNATIONAL INC., a California corporation (hereinafter referred to as “Landlord”) and RXSIGHT, Inc., a Delaware corporation, (hereinafter referred to as “Tenant”). The parties agree as follows:

A.
Identification of Lease. Reference is made to that certain Commercial Lease

Agreement dated August 31st, 2015 (the “Original Lease”), as amended by that certain First

Amendment to the Lease dated November 23rd, 2015, as amended by that certain Second

Amendment to the Lease dated December 22nd , 2015 , as amended by that certain Third

Amendment to the Lease dated January 18th, 2016, as amended by that certain Fourth Amendment to the Lease dated November 12th, 2016, (The Original Lease, as so amended, is herein collectively referred to as the “Lease”) for certain premises containing approximately 21,498 rentable square feet located at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇ and 20,608 rentable square feet located at ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇, Aliso Viejo Ca as more particularly described in the Lease as the Premises.

B.
Context of Fifth Amendment. The parties have agreed to the following:
1.
Term/Premises. Landlord and Tenant agree to extend the Lease for an additional 76 months for the total 42,106 square feet.
2.
The Lease extension period. The Lease Extension Period shall be from October 1, 2024 and January 31, 2031.
3.
Tenant Improvement Allowance. Landlord shall provide a $50,000 allowance for all mutually agreed upon building improvements. Tenant agrees to allocate up to $10,000 of the allowance to upgrade the trash enclosure to match the enclosures located at 120/140 and 150 Columbia. Tenant shall provide a work letter defining what work will be covered under the Tenant Improvement Allowance. (See Attachment A)
4.
ISLC. Any existing Irrevocable Standby Letter of Credit (ISLC) issued to Landlord shall be canceled and nullified as of September 30, 2024. As of the commencement of the Fifth Amendment, Tenant shall be required to:
i.
Submit a copy or link of its 10-Q and 10-K to Landlord within ten (10) business days of public release.
ii.
In the event Tenant’s cash and equivalents fall below $40,000,000, Tenant shall notify Landlord within ten (10) business days.
iii.
In the event Tenant’s cash equivalents fall below $30,000,000 for any five (5) business day period, Tenant shall notify Landlord within two (2) business days and provide Landlord with an Irrevocable Standby Letter of Credit (ISLC) in the amount of $773,661.81 within thirty (30 calendar days). Tenant shall conform to the format issued under the ISLC requirements (Attachment F, under the Original Lease)

 

 

 

“This section left intentionally blank”

-1-

C.
Rent During Fifth Extension Period. During the Fifth Extension Period, the base rent payable shall be the amount called for by the following:

 

Months

Rate/SF

Rate/Month

*01-12:

$1.540

$64,843.24 Plus NNN

13 – 24:

$1.594

$67,112.75 Plus NNN

25 – 36:

$1.650

$69,461.70 Plus NNN

37 – 48:

$1.707

$71,892.86 Plus NNN

49 – 60:

$1.767

$74,409.11 Plus NNN

61 – 72:

$1.829

$77,013.43 Plus NNN

73 – 76:

$1.893

$79,708.90 Plus NNN

*Abated Base rent in months 2,11 and 12

In addition to the base rent, Tenant shall be responsible for the Triple Net expenses as per the

existing Lease.

D.
Option to Renew. Tenant shall receive two (2) five (5) year Options to Extend the Lease at the end of the Fourth Amendment term. All other Renewal options prior to this Fifth Amendment shall be null and void. Tenant shall provide notice to renew with no less than nine (9) months prior written notice and no more than Twelve (12) months prior to the Lease Expiration date, of its intention to extend the lease. The base rent amounts for the option periods shall be at 95% of FMV and not less than the last month’s rent paid.
E.
Deposit. Upon lease execution, Tenant shall pay a Security Deposit equal to the last month’s rent ($79,708.90). The existing security deposit of the current lease is $52,905.71 and shall be increased by $26,803.19 at execution.
F.
Commission. Neither Party was represented by a Broker in the matter.
G.
Miscellaneous. Any term used in this Fifth Amendment, which is defined in the Lease, shall have the same meaning herein, unless the context indicates that another meaning is intended. The Lease is intended to be and is supplemented and amended by the provisions of this Fifth Amendment, and hereafter the Lease shall be considered and construed together. All of the terms, provisions, conditions, and covenants of the Lease, as modified by this Fifth Amendment, shall be and remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be executed on or as of the day and year above written.

 

“Landlord”:

 

“Tenant”:

 

 

 

ACCURIDE INTERNATIONAL INC.

a California Corporation

 

RXSIGHT, Inc.

a Delaware Corporation

 

 

 

By:

▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇

 

By:

/s/ ▇▇▇ ▇▇▇▇▇

 

 

 

Title:

President &CEO

Date:

4/18/2024

 

Date:

4/18/2024

 

-2-

“This section left intentionally blank”

Attachment A

WORK LETTER EXAMPLE

(Tenant Improvements)

▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇

1.
TENANT IMPROVEMENTS

The tenant improvement work (“Tenant Improvements”) shall consist of the work required to complete certain improvements to the Premises based on a working floor drawing attached as Exhibit B. Tenant shall contract with a general contractor, identified as ▇.▇. ▇▇▇▇▇▇ & Associates, Inc. to construct the Tenant Improvements. The Tenant Improvements work shall be undertaken and prosecuted in accordance with the following requirements:

A.
It is understood that except as provided below, the Tenant Improvements shall only include actual improvements to the Premises approved by Landlord identified in Attachments A and B and shall exclude (but not by way of limitation) Tenant’s furniture, trade fixtures, partitions, equipment and signage improvements, if any. Further, the Tenant Improvements shall incorporate Landlord’s building standard materials and specifications (“Standards”). No deviations from the Standards may be requested by Tenant with respect to doors and frames, finish hardware, entry graphics, the ceiling system, light fixtures and switches, mechanical systems, life and safety systems, and/or window coverings; provided that Landlord may, in its sole discretion, authorize in writing one or more of such deviations, in which event, unless Landlord otherwise agrees in its sole discretion, Tenant shall be solely responsible for the cost of replacing same with the applicable Standard item(s) upon the expiration or termination of this Lease. All other non-standard items (“Non-Standard Improvements”) shall be subject to the prior approval of Landlord, which may be withheld in Landlord’s sole discretion. Landlord shall in no event be required to approve any Non-Standard Improvement if Landlord determines that such improvements (i) is of a lesser quality than the corresponding Standard, (ii) fails to conform to applicable governmental requirements, (iii) requires building services beyond the level Landlord has agreed to provide Tenant under this Lease, or (iv) would have an adverse aesthetic impact from the exterior of the Premises.
B.
Tenant shall use a licensed general contractor (Identified as ▇.▇. ▇▇▇▇▇▇ & Associates) and that contractor’s selected subcontractors to construct the Premises.
C.
The TI Contractor and each of its subcontractors shall comply with Landlord’s requirements as generally imposed on third party contractors, including without limitation all insurance coverage requirements and the obligation to furnish appropriate certificates of insurance to Landlord, prior to commencement of construction or the Tenant Improvements work.
D.
A construction schedule shall be provided to Landlord and Tenant prior to commencement of the construction of the Tenant Improvements work, and weekly updates shall be supplied

-3-

Work Letter (Continued)

E.
The Tenant Improvements work shall be prosecuted at all times in accordance with all state, federal and local laws, regulations and ordinance, including without limitation all OSHA and other safety laws, the Americans with Disabilities Act (“ADA”) and all applicable governmental permit and code requirements.
F.
Tenant hereby designates ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, Telephone No. (▇▇▇) ▇▇▇-▇▇▇▇, as its representative, agent and attorney-in-fact for the purpose of receiving notices, approving submittals and issuing requests for Changes and Landlord shall be entitled to rely upon authorizations and directives of such persons as if given directly by ▇▇▇▇▇▇. Tenant may amend the designation of its construction representative(s) at any time upon delivery of written notice to Landlord.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“This section left intentionally blank”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-4-

2.
COST OF TENANT IMPROVEMENTS

 

 

Tenant Improvement-CV-2A

Attachment C

▇. ▇. ▇▇▇▇▇▇ & Associates, Inc.

100 Columbia, Suite 100

 

Schedule of Values

Aliso Viejo, CA 92656

 

Job No. 2362

blank

 

08/29/16

 

 

CSI

Item Description

Count

Unit

Unit

Cost

Item Values

01030

General Conditions

 

 

 

70,048.80

01000

Building Permit Fees

1

Allowance

12,500.00

12,500.00

01027

Electrical Engineering

1

Lot

18,000.00

18,000.00

01028

Mechanical Engineer

1

Lot

8,000.00

8,000.00

01032

Printing & copying

1

Allowance

750.00

750.00

01523

Scissor / boom lifts-rentals

1

Each

1,200.00

1,200.00

01560

Dispose 4-ft flourescent tubes removed

1

Lot

496.32

496.32

01566

Debris disposal-dumpsters

3

Each

800.00

2,400.00

02070

Demo-walls 254' @ 9.5'

3,420

Sq. Ft.

2.00

6,840.00

02070

Demo-additional per 09/14 plan-130 In.ft.

1,260

Sq. Ft.

2.00

2,520.00

02070

Demo wall cladding of X-frame, remove nailer

6

Man hours

39.48

236.88

02071

Demo-acoustic ceilings

5,384

Sq. Ft.

0.75

4,038.00

02072

Demo-existing 2x4 flourescent fixtures

117

Each

9.00

1,053.00

02073

Demo-existing carpet, vct-break rm, wall base

8,493

Sq. Ft.

0.45

3,821.85

02074

Demo sheet vinyl & cove base-rest rooms

475

Sq. Ft.

1.00

475.00

02075

Demo existing toilet partitions

1

Lot

200.00

200.00

02076

Demo & abandon existing plumbing drains

12

Man hours

47.53

570.36

02080

Conc cut, demo & dispose - sink installs

60

Sq. Ft.

13.00

780.00

02081

Conc cut, demo-undergound elect & piping

14

Sq. Ft.

13.00

182.00

03030

Replace concrete-sink install

60

Sq. Ft.

18.00

1,080.00

03031

Replace concrete-underground elect &piping

14

Sq. Ft.

18.00

252.00

03034

Conc slab crack-grind open & fill w/ Sika

280

 

2.35

658.00

06200

Install mid-span support-Chem Lab ceiling

1

Lot

488.15

488.15

06400

Cabinetry-relocate/modify existing

1

Allowance

2,000.00

2,000.00

06410

Cabinetry-new Saron counter top

28

Sq. Ft.

48.00

1,344.00

07210

Insulation-R19 faced-Existing @ mezz-repair

1

Lot

1,638.25

1,638.25

07211

Insulation-R11

1

Lot

1,098.25

1,098.25

07212

Insulation-R-30 at roof of CV-2A only

1

Lot

13,650.00

13,650.00

07215

Insulation-R13-in partition walls

3,360

Sq. Ft.

1.15

3,864.00

07216

R-19 insulation in 6" walls-Chem Lab

1,080

Sq. Ft.

1.45

1,566.00

07217

R-30 insulation in ceiling of Chem Lab

900

Sq. Ft.

1.85

1,665.00

07700

Roof repair work

4

Lot

750.00

3,000.00

08331

Repair 2 roll-up doors at Warehouse

2

Each

1,208.00

2,416.00

08500

Metal window frame & install-5-0x4-0 ea

6

Each

392.20

2,353.20

08501

Window w/ Pyran fire safety glass-1-hr rating

1

Allowance

750.00

750.00

08801

Door-stain birch-frame-side lite-8 ft-hrdwre-ins

4

Lot

950.00

3,800.00

08802

Doors-6-0x8-0, stain grade, hardware, install

4

Each

1,100.00

4,400.00

08803

Install doors saved for re-use

14

Lot

150.00

2,100.00

08804

Door-3-0x8-0, stain grade, hardware, installed

4

Lot

800.00

3,200.00

08805

Replace door access hardware to match CV1

22

Each

130.00

2,860.00

08806

Kick plates-stainless-installed

14

Each

44.57

623.98

08807

Door closers-installed

8

Each

155.00

1,240.00

09104

Frame & drywall - H=10-ft, per 9/14 plan

1

Lot

28,600.00

28,600.00

09105

Frame & drywall-ceiling Chem Lab-9/14 plan

900

Sq. Ft.

11.12

10,008.00

09107

Drywall-recessed boxes for lights 1-hr

16

Each

95.00

1,520.00

09108

Frame & drywall-combo fire/smoke dampers

7

Each

250.00

1,750.00

09109

Drywall furring & details at A-frame exposed

1

Allowance

975.00

975.00

09110

Drywall-cut patch-finish-T24 outlets

9

Each

375.00

3,375.00

 

1 of 3

 

 

 

Cost of Tenant Improvements (Continued)

-5-

 

Tenant Improvement-CV-2A

Attachment C

▇. ▇. ▇▇▇▇▇▇ & Associates, Inc.

100 Columbia, Suite 100

 

Schedule of Values

Aliso Viejo, CA 92656

 

Job No. 2362

blank

 

08/29/16

 

 

CSI

Item Description

Count

Unit

Unit

Cost

Item Values

09115

Backing supports-2 rows-in walls-Rm 154

60

Ln. Ft.

5.50

330.00

09512

T-bar grid-new-office area-standard tile

2,564

Sq. Ft.

3.74

9,589.36

09513

T-bar & Gridstone-148,148,150,153,154,155

2,000

Sq. Ft.

4.65

9,300.00

09514

Replace ceiling tile w/ matching CV-1 tile

2,976

Sq. Ft.

1.56

4,642.56

09515

Install hard washable ceiling tile in Rest Rms

500

Sq. Ft.

2.65

1,325.00

09666

Vinyl ESD flooring - Rm 153 Hardware Dev

580

Sq. Ft.

7.92

4,593.60

09675

Sheet vinyl-Rm 154 - Upgraded material

900

Sq. Ft.

9.34

8,406.00

09676

Sheet vinyl-Rest Rooms-Coved-Upgrade mtl

500

Sq. Ft.

8.20

4,100.00

09677

VCT flooring - NIC - by others

1

Lot

1.00

1.00

09678

Carpet tile - NIC - by others

1

Lot

1.00

1.00

09678

Vinyl-rubber wall base - NIC - by others

1

Lot

1.00

1.00

09910

Finish new & existing doors-stain-clear coat

29

Each

75.00

2,175.00

09966

Vinyl ESD floor-buff & polish-ESD procedure

1

Lot

575.00

575.00

09970

FRP-replace in rest rooms

1

Lot

2,100.00

2,100.00

09990

Painting-interior-walls-all except Rm 154

18,324

Sq. Ft.

0.88

16,125.12

09991

Painting-interior-Rm 152-Epoxy

1,080

Sq. Ft.

1.70

1,836.00

09992

Painting-ceiling of Rm 152-Epoxy

900

Sq. Ft.

1.97

1,773.00

09995

Paint west stair shaft & drywall repair

1

Allowance

750.00

750.00

09996

Detail painting-A frame exposed

1

Lot

400.00

400.00

10400

Signage-code required only

1

Lot

420.00

420.00

10520

Fire extinguisher cabinets

4

Each

262.00

1,048.00

10600

Toilet partitions-new-stainless

1

Lot

9,017.00

9,017.00

10800

Toilet accessories-new

1

Lot

4,887.00

4,887.00

11000

Assist CV installations of equipment-Allow

40

CrewHours

90.51

3,620.40

12512

Louver blinds-installed

76

Each

131.00

9,956.00

12526

Remove & replace window films

1

Lot

1.00

1.00

15310

Nitrogen-extend existing & 5 points of service

1

Allowance

4,500.00

4,500.00

15315

Compressed air-extend exist-10 points svc

1

Allowance

6,500.00

6,500.00

15316

Clean water-extend to sinks in labs

1

Allowance

1,800.00

1,800.00

15401

New condensate piping

1

Allowance

1,000.00

1,000.00

15405

Dig trenches & backfill-sink drains, electrical

1

Lot

1,000.00

1,000.00

15449

Underground sewer pipe explore & video

1

Lot

750.00

750.00

15450

Plumbing per plans P-1 & P-2 dated 7/20/16

1

Allowance

17,500.00

17,500.00

15451

Install CV's sink &disposer-ice mkrCoffee Bar

1

Allowance

1,500.00

1,500.00

15455

Replace toilets, lavs, urinals-install hands free

1

Lot

10,629.00

10,629.00

15456

Repair trap primers-R/Rs

1

Allowance

1,400.00

1,400.00

15620

Hvac-air balance & report-per unit

1

Lot

4,995.00

4,995.00

15650

Hvac-pads for new compressors

2

Each

1,500.00

3,000.00

15800

Hvac-Rm 154-Chem Lab-negative press-16x

1

Allowance

30,000.00

30,000.00

15801

Hvac-Rm 128-Optics Lab-positive pressure

1

Allowance

10,000.00

10,000.00

15802

Hvac-Balance of areas - 5 existing machines

1

Allowance

20,000.00

20,000.00

15803

Install 2 Labconco exhaust fans & systems

1

Allowance

25,000.00

25,000.00

15865

Combo fire & smoke dampers-Rm 154 1-hr

7

Each

650.00

4,550.00

15883

Install HEPA filter units, HEPA units NIC

6

Allowance

800.00

4,800.00

15900

Fire sprinklers-adjust head locations

1

Lot

12,644.00

12,644.00

16400

Electricl-demo safe-off

1

Lot

2,000.00

2,000.00

16401

Electrical-distributed power outlets & data

1

Lot

31,055.35

31,055.35

16408

Electrical-add ▇-▇▇▇-▇▇▇ panels w/ feeders

1

Lot

2,471.65

2,471.65

 

2 of 3

 

 

 

 

Cost of Tenant Improvements (Continued)

-6-

 

Tenant Improvement-CV-2A

Attachment C

▇. ▇. ▇▇▇▇▇▇ & Associates, Inc.

100 Columbia, Suite 100

 

Schedule of Values

Aliso Viejo, CA 92656

 

Job No. 2362

blank

 

08/29/16

 

 

CSI

Item Description

Count

Unit

Unit

Cost

Item Values

16413

Emergency power-175 amp transfer switch

1

Lot

2,532.60

2,532.60

16414

Emer power-panel, xfmr,disconnect, feeders

1

Allowance

6,737.55

6,737.55

16415

Install grounding ▇▇▇▇ in CV-2A IT room

1

Lot

455.00

455.00

16416

Power to 2 new hvac units-H-8 & H-25

1

Lot

2,863.85

2,863.85

16417

Power to 2 Labconco exhaust hoods & fans

1

Lot

5,747.17

5,747.17

16474

Replace deteriorated seal-tite-roof hvac units

1

Lot

2,876.98

2,876.98

16475

Install power/data/video in conc floor-Rm 130

1

Assembly

1,593.83

1,593.83

16476

Install power & data in floor box

1

Lot

887.00

887.00

16511

Light fixtures-Exit

9

Each

125.00

1,125.00

16512

Light fixtures-2x4 LED

105

Each

131.00

13,755.00

16514

Install 2x4 LED fixtures on Emer circuit

23

Lot

211.27

4,859.21

16515

Install 2x4 LED fixtures

98

Lot

270.20

26,479.60

16600

Install overhead quad outlets on flex cords

6

Allowance

270.00

1,620.00

16650

Install power to HEPA filter units

6

Allowance

300.00

1,800.00

16720

Fire alarm system-B occupancy

1

Lot

18,983.00

18,983.00

16721

Fire alarm system 1-hr conditions & ducts

1

Lot

9,704.00

9,704.00

16723

Fire alarm system-conduit install

1

Allowance

2,500.00

2,500.00

15930

Title 24 contol zones-lighting only

1

Lot

23,478.85

23,478.85

16931

T-24 power outlets & controls

1

Lot

9,467.35

9,467.35

 

 

 

 

 

667,921.07

 

 

 

 

 

 

17100

Contractors Contingency

 

 

2.00%

13,358.42

 

 

 

 

 

 

17200

Contractors Overhead & Profit

 

 

8.00%

54,502.36

 

 

 

 

 

 

17300

Contractor's Insurance

 

 

1.50%

11,036.73

 

 

 

 

 

 

Total Cost Per Agreement and Plans

 

 

 

746,818.58

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3 of 3

 

 

 

-7-

 

img77340192_0.jpg 

_________________________________________________________

•
Yellow highlighted area to be put back to its original configuration

At the termination of the lease

 

 

 

-8-

Document Metadata

Filed: August 5th, 2024