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EXHIBIT 10.8
SEPTEMBER 28, 1998
SECOND SUPPLEMENT TO LEASE AGREEMENT
Re: Lease Agreement (the "Lease Agreement") dated February 28, 1997 by and
between, EURUS ESTATES II, LTD., as Lessor, and CROSSROADS SYSTEMS, INC., as
Lessee, and that certain First Supplement to Lease Agreement (the "First
Supplement") dated October 6, 1997, demising of 11,618 rentable square feet
(9,467 use of space locally known as Suites II-300 and II-350 in the KALEIDO II
office building located at 0000 Xxxxxxxx Xxxxxxxxx, Xxxxxx, Xxxxxx Xxxxxx, Xxxxx
00000. The primary lease agreement, as amended by the First Supplement, shall
hereinafter be referred to as the "Lease Agreement".
This Second Supplement to Lease Agreement entered into by and between EURUS
ESTATES II, LTD., hereinafter called "Lessor", and CROSSROADS SYSTEMS, INC.,
hereinafter called "Lessee", shall amend and modify the Lease Agreement as
follows:
1. LEASE EXPANSION. Commencing January 1, 1999 and continuing for a period of
sixty (60) months to December 31, 2003, Lessee shall lease from Lessor
5,709 rentable square feet (4,656 usf) of additional space on the first
floor (the "Expansion Space"), locally known as Suite II-450, and as shown
on the attached Exhibit A. Lessee's total leased square footage shall,
therefor, adjust to 17,327 rentable square feet (14,123 usf).
2. LEASE RENEWAL. Commencing June 1, 2002, Lessee's lease of Suites II-300 and
II-350 shall be extended nineteen (19) months to December 31, 2003.
3. EXPANSION SPACE BASE RENT. Commencing January 1, 1999, Lessee shall pay to
Lessor base rent for the Expansion Space according to the rent schedule
below:
Time Period Per Month Per Term Per SF Per Yr
-------------------- ---------- ----------- -------------
01/01/99 to 01/31/99 $ 0.00 $ 0.00 $ 20.00
02/01/99 to 05/31/99 $ 9,515.00 $ 38,060.00 $ 20.00
06/01/99 to 05/31/00 $ 9,752.88 $117,034.56 $ 20.50
06/01/00 to 05/31/01 $ 9,990.75 $119,889.00 $ 21.00
06/01/01 to 05/31/02 $10,228.63 $122,743.56 $ 21.50
06/01/02 to 05/31/03 $10,466.50 $125,598.00 $ 22.00
06/01/03 to 12/31/03 $10,704.38 $ 74,930.66 $ 22.50
4. RENEWAL BASE RENT. Commencing June 1, 2002, Lessee shall pay to Lessor base
rent for the for Suites II-300 and II-350 according to the rent schedule
below:
Time Period Per Month Per Term Per SF Per Yr
-------------------- ---------- ----------- -------------
06/01/02 to 05/31/03 $21,299.67 $255,596.04 $ 22.00
06/01/03 to 12/31/03 $21,783.75 $152,486.25 $ 22.50
5. TENANT FINISH OUT FOR EXPANSION SPACE. Lessor shall provide Lessee with a
finish-out allowance equal to $0.0833 per usable square foot per month time
the number of months
Lessor TT
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Lessee BRS
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from the commencement date of the lease of the Expansion Space to the end
of the lease term. Therefore, Lessee shall have a total allowance of
$23,280.00 based on 4,656 usable square feet times $0.0833 times 60 months.
Final construction plans shall be mutually acceptable to both Lessee and
Lessor.
Except as provided to the contrary herein, all the provisions of the Lease
Agreement shall be applied to the expansion space and all of the remaining
terms, covenants, and provisions of the Lease Agreement shall remain in full
force and effect and unmodified hereby. Each party hereby acknowledges that the
other is not in default under the Lease Agreement in any respect. Each signatory
hereto represents and warrants that he or she is authorized to execute this
document and that upon said execution by both parties, this document will
constitute the binding obligation of the party on behalf of whom such person has
signed, without the necessity of joinder of any other person or entity.
EXECUTED on the dates set forth below our respective signatures.
LESSOR: LESSEE:
EURUS ESTATES II, LTD. CROSSROADS SYSTEMS, INC.
By: /s/ XXXXX XXXXXXXX By: /s/ XXXXX X. XXXXX
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Xxxxx Xxxxxxxx, EVP/CEO Xxxxx X. Xxxxx
Xxxxxx Management, Inc. CEO
Authorized Managing Agent for
Eurus Estates II, Ltd.
Date: 10-22-98 Date: October 13, 1998
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EXHIBIT A
CROSSROADS SYSTEMS, INC. EXPANSION SPACE
Kaleido II, Suite II-450
5,709 rentable square feet (4,656 usf)
[FLOOR PLAN]
Lessor TT
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Lessee BRS
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