Fourth Amendment to Lease Agreement between Draper Land Limited Partnership No. 2 and 1-800 Contacts, Inc.

Summary

This amendment updates the existing lease between Draper Land Limited Partnership No. 2 (landlord) and 1-800 Contacts, Inc. (tenant) by adding approximately 2,281 square feet of office space at 66 E. Wadsworth Park Dr., Draper, Utah. The new space is leased for 67 months starting October 1, 2000, with rent set at $17.70 per square foot per year, increasing annually. The tenant also receives additional parking rights. All other terms of the original lease and prior amendments remain unchanged.

EX-10.20 6 0006.txt FOURTH AMENDMENT TO LEASE FOURTH AMENDMENT TO LEASE THIS FOURTH AMENDMENT TO LEASE (4th Amendment"), dated this 17 day of January, 2001, is entered into by and between DRAPER LAND LIMITED PARTNERSHIP No. 2, a Utah limited partnership ("Landlord"), and 1-800 CONTACTS, INC., a Delaware Corporation ("Tenant"). W I T N E S S E T H: Whereas, Landlord and Tenant (then known as 1-800-LENS NOW, INC., dba 1-800-CONTACTS, A Utah corporation) entered into a Lease dated November 3, 1997, as amended by the First Amendment to Lease. dated May 25, 1998, the Second Amendment to Lease, dated August 6, 1998, and the Third Amendment to Lease. dated January 17, 2001, which are incorporated herein by reference ("Amended Lease"); Whereas, the parties hereto desire to amend certain terms and conditions of the Amended Lease as specifically indicated in this Amendment. However, unless specifically amended herein, all terms and conditions of the Amended Lease remain in full force and effect. NOW, THEREFORE, in consideration of the mutual promises, representations and covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. The recitals contained herein are hereby incorporated by reference. 2. Article 1 (a) of Amended Lease shall he amended to increase the premises by the following: (a) 2nd Expansion Space. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, for the term and subject to the terms and conditions hereinafter set forth, to each and all of which Landlord and Tenant hereby mutually agree, those certain premises, highlighted on Exhibit A-I attached hereto, which include approximately 2,281 Rentable square feet of office space ("2nd Expansion Space"). The location of the 2nd Expansion Space and related Building is commonly known as: 66 E. Wadsworth Park Dr., Bldg. B, Suite #203, Draper, UT 84020 (the "Building"). (b) Lease term for 2nd Expansion Space. The Lease Term for the 2nd Expansion Space shall be 67 months commencing October 1, 2000, and ending on April 30, 2006. Options to extend the lease for the 2nd Expansion Space shall be the same as for the Original Premises as specified in the Lease. (c) Rent for 2nd Expansion Space. The Base Rent, paid on a monthly basis, under the Amended Lease is $17.70 per Rentable square foot per year. Base rent shall be 1 increased by $.60 per year per Rentable square foot on May 25th consistent with the annual increase date in the Lease. 3. Additional parking stalls. Tenant will have use of an additional 5 non-reserved parking stalls for each 1,000 Rentable square foot of 2nd Expansion Space. 4. Security Deposit. No additional security deposit is required. 5. Miscellaneous. Except as expressly modified herein, the Lease, First Amendment to Lease, Second Amendment to Lease, and Third Amendment to Lease, remain in full force and effect between the parties in accordance with their original terms. IN WITNESS WHEREOF, the parties have executed this Fourth Amendment to Lease dated the day and year first above written. TENANT, LANDLORD, 1-800-Contacts, Inc. DRAPER LAND LIMITED PARTNERSHIP No. 2 By: /s/ Scott [ILLEGIBLE] By: /s/ Kip Wadsworth -------------------- ----------------- Kip Wadsworth 2