Exhibit 10.7
January 21, 1991
128 TECHNOLOGY CENTER
OFFICE LEASE
PARAMETRIC TECHNOLOGY CORPORATION
AMENDMENT NO. 4
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Reference is made to the Lease dated June 1, 1987 and subsequently amended March
10, 1988, November 9, 1988 and November 8, 1989 collectively (the "Lease") by
and between XXXXXXX X. XXXXXXXX, XXXX X. XXXXXXXX, and XXXXXX X. XXXXXX,
trustees of the 128 Technology Trust under a Declaration of Trust dated October
12, 1983, recorded in Middlesex County Registry of Deeds Southern District Book
15268 Page 65 (hereinafter "Lessor", which expression shall include its heirs,
executors, successors and assigns where the context so admits), and Parametric
Technology Corporation, a Massachusetts corporation having principal place of
business at 000 Xxxxxxxxxx Xxxxx Xxxxxxx, Xxxxxxxxxxxxx 00000 (hereinafter
"Lessee", which expression shall include its successors and assigns or executors
and administrators where the context so admits). Terms defined in or by
reference in the Lease not otherwise defined herein shall have the same meaning
herein as therein.
For a good and valuable consideration, the receipt and legal sufficiency of
which is hereby acknowledged, Lessor and Lessee hereby agree to amend the Lease
as follows:
1. ARTICLE I, REFERENCE DATA, is hereby amended as follows:
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. NEW RENTABLE 10,511 additional rentable square feet as
AREA ("AREA IV") shown on Exhibit A attached hereto.
. TOTAL RENTABLE
AREA: 50,624 rentable square feet
. BASE RENT FOR
TOTAL RENTABLE $20.25/square foot (including tax and operating
AREA: expense base).
. TAX AND OPERATING $8.05/square foot on the total rentable
EXPENSE BASE: area
. RENT COMMENCEMENT: February 1, 1991
. TERMINATION FOR
TOTAL RENTABLE
AREA: December 31, 1993
. RENT SCHEDULE: $1,025,136.00 YEAR
$ 85,428.00 MONTH
. TENANT
IMPROVEMENTS: To be paid by Lessee
. OPTIONS FOR
ADDITIONAL SPACE:
1st Option: Available under the following terms and
conditions with written notice no later then
March 31, 1991:
Area: Approximately 10,000
rentable square feet
Building: 000 Xxxxxxxxxx Xxxxx
Xxxxx: First Floor
Rental Rate: $20.25/rentable square
foot
Term: Additional six (6) months on
the total rentable area
Lease
Termination: June 30, 1994 on total rentable
area if 1st option is exercised
Availability: No later then September 1, 1991
Rent
Commencement: Between June 1, 1991 and
September 1, 1991, depending on
availability
Tenant
Improvements: To be paid by Lessee
2nd Option: Available under the following terms and
conditions with written notice no later then
February 1, 1992.
Area: Approximately 10,000
rentable square feet
Building: 000 Xxxxxxxxxx Xxxxx
Xxxxx: First Floor
Rental Rate: $22.00/rentable square
foot for 2nd option space
Term: Additional six (6) months on
the total rentable area
Lease
Termination: June 30, 1994 if 1st option
is not exercised, December
31, 1994 if 1st and second
options are exercised
Availability: Between June 1, 1992 and
August 31, 1992
Rent
Commencement: Upon Availability
Tenant
Improvements: To be paid by Lessee
(see below)
3rd Option: Available under the following terms and
conditions with written notice no later then
December 31, 1992 under the following terms
and conditions:
Area: Approximately 10,000
rentable square feet
Building: 000 Xxxxxxxxxx Xxxxx
Rental Rate: $22.00/s.f. for 3rd option
area
Term: Additional six (6) months on
entire space, but in no event
shall Lessee be able to
exercise this option unless
the remaining term for the
total rentable area is
greater then eighteen (18)
months
Lease
Termination: June 30, 1994 if neither 1st
nor 2nd options are
exercised. December 31, 1994
if only 1st or 2nd option is
exercised. June 30, 1995 if
all three options are
exercised.
Availability: Between June 1, 1993 and
August 31, 1993
Rent
Commencement: Between June 1, 1993 and August 1, 1993,
depending upon Availability
Tenant
Improvements: To be paid by Lessee
(see below)
Tenant improvements on all option space will be paid by Lessee.
Xxxx Xxxxxxx has demonstrated what a sample build out would cost (see plans,
quantities and unit costs attached hereto as Exhibit "B"). Xxxx Xxxxxxx will
guarantee its construction costs on a per unit basis not to exceed those costs
as represented in this estimate. Such guarantee to last for one year.
Total actual costs for construction to be determined by final construction plans
as approved by Parametric.
If Lessee elects to build out space as shown in Exhibit B, the maximum tenant
improvement cost shall be $35,760.00 for the first floor north pod, $65,730.00
for the first floor south pod and $25,670.00 for the second floor pod subject to
reasonable unit cost increases after the one year guarantee.
In all other respects, the terms and provisions of the Lease and subsequent
amendments are hereby ratified and confirmed and remain in full force and effect
and unamended.
Lessee acknowledges and agrees that this Amendment shall not be binding upon
either party until an original of this Amendment has been executed by both
parties.
Executed as a sealed instrument the 21st day of January, 1991.
LESSOR 128 TECHNOLOGY TRUST
/S/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx, as Trustee aforesaid
/S/ Xxxx X. Xxxxxxxx
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Xxxx X. Xxxxxxxx, as Trustee aforesaid
/S/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx, as Trustee aforesaid
LESSEE PARAMETRIC TECHNOLOGY CORPORATION
By /S/ Xxxxxx X. Xxxxxx
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EXHIBIT A
FLOOR PLANS
EXHIBIT B
Floor 1
------- Demo - 288' 2,880
Dumpster 1,800
New Part 545 27,250
Doors - 22 14,300
Ceiling Work 4,000
SOUTH Vinyl 2,000
POD HVAC 2,000
Louver Drapes 1,500
Sprinkler 1,000
Outlets - 50 4,500
Switch - 25 2,000
Lights Relocated - 50 2,500
------
$65,730
Dumpster 1,200
Demo - 100' 1,000
New Part 310 15,500
Doors - 14 9,100
Ceiling Work 1,000
NORTH Vinyl 1,000
POD HVAC 500
Louver Drapes 500
Sprinkler 500
Outlets - 30 2,700
Switches - 14 1,120
New Lights - 4 640
Relocate Lights - 20 1,000
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$35,760
Floor 2
------- HVAC 1,000
Demo - 100' 1,000
Dumpster 1,200
New Part - 160' 8,000
Doors - 9 5,850
Ceiling Work 1,000
Outlets - 12 1,080
Switches 960
Lights Reconnect - 12 600
New Lights - 3 480
Vinyl 2,000
Sprinkler 2,000
Louver Drapes 500
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$25,670