SECOND AMENDMENT TO LEASE

Exhibit 10.1

SECOND AMENDMENT TO LEASE

This Second Amendment to Lease (the “Amendment”) dated February 22, 2005, is by and between IRVINE TECHNOLOGY PARTNERS III, a California general partnership (“Landlord”), and STANDARD PACIFIC CORP., a Delaware corporation (“Tenant”).

On November 1, 1999, Landlord and Tenant entered into a lease for space in a building located at 15326 Alton Parkway, Irvine, California (the “Alton Parkway Premises”), which lease was amended by a First Amendment to Lease dated July 7, 2000 (as amended, the “Lease”).

Landlord and Tenant each desire to modify the Lease to add approximately 25,548 rentable square feet of space in a building located at 26 Technology Drive, Irvine, California, more particularly described on EXHIBIT A attached to this Amendment and herein referred to as the “Technology Drive Premises”, to adjust the Basic Rent, and to make such other modifications as are set forth in “III. MODIFICATIONS” next below.

A. Building. All references to the “Building” in the Lease shall be amended to refer to the two (2) buildings located at 15326 Alton Parkway, Irvine, California (the “Alton Parkway Building”) and at 26 Technology Drive, Irvine, California (the “Technology Drive Building”), either collectively or individually as the context may reasonably require.

B. Premises. From and after the “Commencement Date for the Technology Drive Premises” (as hereafter defined), the Technology Drive Premises together with the Alton Parkway Premises shall collectively constitute the “Premises” under the Lease.

C. Basic Lease Provisions. The Basic Lease Provisions are hereby amended as follows:

1. Effective as of the Commencement Date for the Technology Drive Premises, Item 1 shall be deleted in its entirety and substituted therefor shall be the following:

“1. Premises: The Premises are more particularly described in Section 2.1.

2. Item 4 is hereby amended by adding the following:

“Estimated Commencement Date for the Technology Drive Premises: July 1, 2005.

“Commencement Date for the Technology Drive Premises” shall mean the earlier of (a) the date upon which all relevant governmental authorities have approved the “Tenant Improvements” described in the Work Letter attached to this Amendment in accordance with applicable building codes, as evidenced by the issuance of a temporary or final certificate of occupancy from the City of Irvine for the Technology

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Drive Premises (but in no event earlier than the Estimated Commencement Date), or (b) the date Tenant acquires possession or commences use of the Technology Drive Premises for any purpose other than Tenant’s right of early entry pursuant to the provisions of Article I.H of the Work Letter attached hereto. Prior to Tenant’s taking possession of the Technology Drive Premises, the parties shall memorialize on a form provided by Landlord the actual Commencement Date for the Technology Drive Premises.

If Landlord, for any reason whatsoever, cannot deliver possession of the Technology Drive Premises to Tenant on or before the Estimated Commencement Date for the Technology Drive Premises, this Amendment shall not be void or voidable nor shall Landlord be liable to Tenant for any resulting loss or damage. However, Tenant shall not be liable for any rent and the Commencement Date for the Technology Drive Premises shall not occur until Landlord delivers possession of the Technology Drive Premises and the Technology Drive Premises are in fact available for Tenant’s occupancy with any Tenant Improvements that have been approved as per Subsection (a) above, except that if Landlord’s failure to so deliver possession of the Estimated Commencement Date for the Technology Drive Premises is attributable to any action or inaction by Tenant (including without limitation any Tenant Delay described in the Work Letter) then the Commencement Date for the Technology Drive Premises shall not be advanced to the date on which possession of the Technology Drive Premises is tendered to Tenant, and Landlord shall be entitled to full performance by Tenant (including the payment of rent) from the date Landlord would have been able to deliver the Technology Drive Premises to Tenant but for Tenant’s delay(s).”

3. Item 5 is hereby deleted in its entirety and substituted therefor shall be the following:

“5. Lease Term: The Term of this Lease shall expire at midnight on July 31, 2012.”

4. Item 6 is hereby amended by adding the following:

“Basic Rent for the Technology Drive Premises:

Commencing on the Commencement Date for the Technology Drive Premises, the Basic Rent for the Technology Drive Premises shall be Thirty Three Thousand Two Hundred Twelve Dollars ($33,212.00) per month, based on $1.30 per rentable square foot.

Commencing twelve (12) months following the Commencement Date for the Technology Drive Premises, the Basic Rent for the Technology Drive Premises shall be Thirty Four Thousand Four Hundred Ninety Dollars ($34,490.00) per month, based on $1.35 per rentable square foot.

Commencing twenty-four (24) months following the Commencement Date for the Technology Drive Premises, the Basic Rent for the Technology Drive Premises shall be Thirty Five Thousand Seven Hundred Sixty-Seven Dollars ($35,767.00) per month, based on $1.40 per rentable square foot.

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Commencing thirty-six (36) months following the Commencement Date for the Technology Drive Premises, the Basic Rent for the Technology Drive Premises shall be Thirty Seven Thousand Forty-Five Dollars ($37,045.00) per month, based on $1.45 per rentable square foot.

Commencing forty-eight (48) months following the Commencement Date for the Technology Drive Premises, the Basic Rent for the Technology Drive Premises shall be Thirty Eight Thousand Three Hundred Twenty-Two Dollars ($38,322.00) per month, based on $1.50 per rentable square foot.

Commencing sixty (60) months following the Commencement Date for the Technology Drive Premises, the Basic Rent for the Technology Drive Premises shall be Thirty Nine Thousand Five Hundred Ninety-Nine Dollars ($39,599.00) per month, based on $1.55 per rentable square foot.

Commencing seventy-two (72) months following the Commencement Date for the Technology Drive Premises, the Basic Rent for the Technology Drive Premises shall be Forty Thousand Eight Hundred Seventy-Seven Dollars ($40,877.00) per month, based on $1.60 per rentable square foot.

Basic Rent for the Alton Parkway Premises:

Commencing April 1, 2010, the Basic Rent for the Alton Parkway Premises shall be the “Fair Market Rental” (as hereafter defined). If the parties are unable to reach agreement concerning the Fair Market Rental for the Alton Parkway Premises within the prior thirty (30) days, then not later than January 1, 2010, Landlord shall notify Tenant in writing of the Basic Rent for the Alton Parkway Premises that would reflect the prevailing market rental rate for a 28-month renewal of comparable space in the Irvine Spectrum (together with any increases thereof during the extension period) as of the commencement of the extension period for the Alton Parkway Premises (“Landlord’s Determination”). Should Tenant disagree with the Landlord’s Determination, then Tenant shall, not later than twenty (20) days thereafter, notify Landlord in writing of Tenant’s determination of those prevailing market rental terms (“Tenant’s Determination”).

Within ten (10) days following delivery of the Tenant’s Determination, the parties shall attempt to agree on an appraiser to determine the Fair Market Rental. If the parties are unable to agree in that time, then each party shall designate an appraiser within ten (10) days thereafter. Should either party fail to so designate an appraiser within that time, then the appraiser designated by the other party shall determine the Fair Market Rental. Should each of the parties timely designate an appraiser, then the two appraisers so designated shall appoint a third appraiser who shall, acting alone, determine the Fair Market Rental for the Alton Parkway Premises. Any appraiser designated hereunder shall have an MAI certification with not less than five (5) years experience in the valuation of commercial industrial buildings in Orange County, California.

Within thirty (30) days following the selection of the appraiser and such appraiser’s receipt of the Landlord’s Determination and the Tenant‘s Determination, the appraiser shall determine whether Landlord’s Determination or Tenant’s Determination more accurately reflects the prevailing market rental rate for the 28-month renewal of the Lease for

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the Alton Parkway Premises, as reasonably extrapolated to the commencement of the extension period as to the Alton Parkway Premises. Accordingly, either the Landlord’s Determination or the Tenant’s Determination shall be selected by the appraiser as the “Fair Market Rental” for the extension period. In making such determination, the appraiser shall consider rental comparables for the Project and for similarly improved space (that is, 100% “office” space with 4-sided “glass” walls) in the Irvine Spectrum, with appropriate adjustment for location, proximity of amenities and quality of project, including factors for market tenant improvement allowances then being granted for lease renewals, but the appraiser shall not attribute any factor for brokerage commissions in making its determination of the Fair Market Rental. At any time before the decision of the appraiser is rendered, either party may, by written notice to the other party, accept the Determination submitted by the other party, in which event such terms shall be deemed adopted as the agreed Fair Market Rental. The fees of the appraiser(s) shall be borne entirely by the party whose determination of the Fair Market Rental was not accepted by the appraiser.

Within twenty (20) days after the determination of the Fair Market Rental, Landlord shall prepare an appropriate amendment to the Lease for the extension period as to the Alton Parkway Premises, and Tenant shall execute and return same to Landlord within ten (10) days after Tenant’s receipt of same. Should the Fair Market Rental not be established by the commencement of the extension period as to the Alton Parkway Premises, then Tenant shall continue paying rent at the rate in effect during the month of March, 2010, and a lump sum adjustment shall be made promptly upon the determination of the Fair Market Rental.

5. Effective as of the Commencement Date for the Technology Drive Premises, Item 8 shall be deleted in its entirety and substituted therefor shall be the following:

“8. Floor Area of Premises: Approximately 58,169 rentable square feet, comprised of the following:

Alton Parkway Premises – approximately 32,621 rentable square feet; and Technology Drive Premises – approximately 25,548 rentable square feet”

6. Item 12 is hereby amended by deleting Landlord’s address for payments and notices and substituted therefor shall be the following:

“LANDLORD

THE IRVINE COMPANY

550 Newport Center Drive

Newport Beach, CA 92660

Attn: Senior Vice President, Operations

Irvine Office Properties

with a copy of notices to:

THE IRVINE COMPANY

550 Newport Center Drive

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Newport Beach, CA 92660

7. Effective as of the Commencement Date for the Technology Drive Premises, Item 14 shall be deleted in its entirety and substituted therefor shall be the following:

“14. Vehicle Parking Spaces: Two Hundred Twenty Two (222) on an unassigned and unreserved basis, except that upon Tenant’s request, Landlord shall designate ten (10) of said spaces (in a location in close proximity to the Alton Parkway Building’s main entry) and ten (10) of said spaces (in a location in close proximity to the Technology Drive Building’s main entry), which twenty (20) spaces so designated shall be marked “visitor.”

D. Section 2.4 Landlord’s Responsibilities. The provisions of Section 2.4(a) of the Lease shall be binding on Landlord as to the Technology Drive Building, provided that all references in said Section 2.4(a) to the “Tenant Improvements” shall mean that the Tenant Improvements constructed pursuant to the attached work Letter, and all references to the “Commencement Date” shall mean the “Commencement Date for the Technology Drive Premises”. The provisions of Section 2.4(b) of the Lease shall be applicable and binding on Landlord as to the Technology Drive Building for the twelve (12) month period commencing on the date of Landlord’s tender of possession of the Technology Drive Building to Tenant. The provisions of Section 2.4(c) of the Lease shall be binding on Landlord as to both the Alton Parkway Building and the Technology Drive Building for the Term of this Lease as extended through July 31, 2012.

E. Right to Extend the Lease. The provisions of Section 3.3 of the Lease entitled “Right to Extend this Lease” shall remain in full force and effect with both of the two (2) successive periods of sixty (60) months therein described exercisable by Tenant as therein provided, except that the third (3^rd) paragraph of said Section 3.3 is hereby amended to provide that in making its determination to select either the “Landlord’s Determination” or the “Tenant’s Determination”, the appraiser shall consider rental comparables for similarly improved space (that is, 100% “office” space with 4-sided “glass” walls) in the Irvine Spectrum. The remainder of the provisions of Section 3.3 shall remain unmodified and in full force and effect.

F. Signs. Section 5.2 of the Lease is amended to provide that Tenant shall also have the right to erect and maintain two (2) exterior “building top” signs on the Technology Drive Building for Tenant’s name and/or graphics and in locations designated by Landlord, subject to the terms and conditions of said Section 5.2. Prior to the Commencement Date for the Technology Drive Premises, Landlord shall remove the existing “Plaid Brothers” building top sign at its sole cost and expense. Further, Landlord shall work with Tenant to place directional signage, at Tenant’s sold cost and expense, in the Common Areas of the Project.

G. Maintenance and Repair. In the second line of Section 7.1 of the Lease, the reference to “the Commencement Date” in the second line thereof shall mean: (1) with respect to the Alton Parkway Premises, “April 1, 2000,” and (2) with respect to the Technology Drive Premises, the “Commencement Date for the Technology Drive Premises.”

H. Alterations. The second sentence of the first paragraph of Section 7.3 of the Lease is deleted and replaced with the following:

“Notwithstanding the foregoing, Tenant may make such alterations, additions or improvements to the Premises costing up to One Hundred Thousand Dollars

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($100,000.00) for each of the Alton Parkway Premises and the Technology Drive Premises each calendar year of the Term (on a non-cumulative basis) without Landlord’s consent, provided, however, that any alterations, additions or improvements which change the basic floor plan of the Premises, which change the structural or mechanical systems of the Premises, shall require Landlord’s prior written consent, which shall not be unreasonably withheld.”

In the second line of the second paragraph of Section 7.3 of the Lease, the reference to “the Commencement Date” shall mean: (1) with respect to the Alton Parkway Premises, “April 1, 2000,” and (2) with respect to the Technology Drive Premises, the “Commencement Date for the Technology Drive Premises.”

I. Restoration. Section 11.1(a)(i) of this Lease is amended to delete the second parenthetical provision therein contained, and to substitute the following parenthetical provision:

“…(for which Tenant shall be responsible in an amount not to exceed One-Hundred Thousand Dollars [$100,000.00] for each casualty affecting either the Alton Parkway Building or the Technology Drive Building);…”

J. Conduit and Cabling. Tenant, at its sole cost and expense, shall have the right to pull its cabling through conduit to be installed by Tenant and connecting the Alton Park Building and the Technology Drive Building. Such conduit shall be installed by Tenant in the Common Areas of the Project in locations and at times reasonably acceptable to Landlord. Tenant shall leave said conduit in place, but shall remove its cabling from such conduit, prior to the Expiration Date or sooner termination of the Lease.

K. Tenant Improvements for the Technology Drive Premises. Landlord shall construct the “Tenant Improvements” as defined and in accordance with the provisions of Exhibit X, Work Letter, attached hereto.

A. Effect of Amendments. The Lease shall remain in full force and effect except to the extent that it is modified by this Amendment.

B. Entire Agreement. This Amendment embodies the entire understanding between Landlord and Tenant with respect to the modifications set forth in “III. MODIFICATIONS” above and can be changed only by a writing signed by Landlord and Tenant.

C. Counterparts. If this Amendment is executed in counterparts, each is hereby declared to be an original; all, however, shall constitute but one and the same amendment. In any action or proceeding, any photographic, photostatic, or other copy of this Amendment may be introduced into evidence without foundation.

D. Defined Terms. All words commencing with initial capital letters in this Amendment and defined in the Lease shall have the same meaning in this Amendment as in the Lease, unless they are otherwise defined in this Amendment.

E. Corporate and Partnership Authority. If Tenant is a corporation or partnership, or is comprised of either or both of them, each individual executing this Amendment for the corporation or partnership represents that he or she is duly authorized to execute and deliver this Amendment on behalf of the corporation or partnership and that this Amendment is binding upon the corporation or partnership in accordance with its terms.

F. Attorneys’ Fees. The provisions of the Lease respecting payment of attorneys’ fees shall also apply to this Amendment.

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Landlord and Tenant executed this Amendment on the date as set forth in “I. PARTIES AND DATE.” above.

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EXHIBIT X

DOLLAR ALLOWANCE

[SECOND GENERATION SPACE]

The Tenant Improvement work (herein “Tenant Improvements”) shall consist of any work required to complete the Technology Drive Premises pursuant to approved plans and specifications. All of the Tenant Improvement work shall be performed by the TI Contractor selected by Landlord as provided below, and in accordance with the procedures and requirements set forth below.

All claims or disputes between Landlord and Tenant arising out of, or relating to, this Work Letter shall be decided by “JAMS” pursuant to the provisions of Section 22.7 of the Lease.

EXHIBIT X-1

(TENANT’S FINISH SUBCONTRACTORS)

EXHIBIT X-2

(TENANT’S SYSTEMS SUBCONTRACTORS)