Third Addendum to Lease Agreement between Valley American Investment Company and Gentner Communications Corporation

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Summary

This addendum, dated September 18, 2000, is between Valley American Investment Company (landlord) and Gentner Communications Corporation (tenant). It expands the tenant's leased space by 11,510 square feet, bringing the total to 51,760 square feet, with the new space's lease term ending October 31, 2006. The tenant will pay increased rent according to a set schedule. If an additional space (Suite 6) becomes available, the tenant must lease it or relinquish certain areas. All other lease terms remain unchanged.

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EX-10.8 2 0002.txt MATERIAL CONTRACTS THIRD ADDENDUM TO LEASE This addendum is entered into this 18th day of September, 2000, by and between VALLEY AMERICAN INVESTMENT COMPANY, P.O. Box 186, Midvale, Utah 84047, as Landlord; and GENTNER COMMUNICATIONS CORPORATION, of 1825 West Research Way, West Valley City, UT 84199, as Tenant. Whereas, both Tenant and Landlord have executed a uniform lease agreement dated the 26th day of February, 1996, a First Addendum to Lease dated the 31st day of January, 1997, and a Second Addendum to Lease dated the 2nd day of May, 1997. The size of Tenant's leased premises is 40,250 square feet. The current lease term shall expire on October 31, 2006. Whereas, the purpose of this Third Addendum is to increase the size of the leased premises. Whereas, Tenant is desirous of leasing an additional 11,510 square feet located at 1825 West Research Way, Suite 7 (the "Expansion Space"). Therefore, the total size of the leased premises shall be 51,760 square feet. The term for this expansion space shall commence on September 1, 2000, and shall run co-terminously with the original lease, the First and Second Addendums, expiring on October 31, 2006. In consideration of this Addendum, Landlord and Tenant agree as follows: a. Tenant shall take space in its current, as is condition. b. Landlord shall deliver possession of the expansion space to Tenant upon execution of this Addendum. c. Tenant shall pay rent as follows:
=================== ================= ================= ================ ================= ITEM 09/01/00- 11/01/00- 11/01/02- 11/01/04- 10/31/00 10/31/02 10/31/04 10/31/06 - ------------------- ----------------- ----------------- ---------------- ----------------- Base Rent Per 22,258.00 24,039.00 25,912.00 28,039.00 Lease - ------------------- ----------------- ----------------- ---------------- ----------------- 1st Addendum 488.60 488.60 488.60 488.60 Amortization - ------------------- ----------------- ----------------- ---------------- ----------------- 2nd Addendum 1,049.00 1,049.00 1,049.00 1,049.00 Amortization - ------------------- ----------------- ----------------- ---------------- ----------------- 3rd Addendum 4,550.00 4,550.00 4,914.00 5,307.12 Expansion - ------------------- ----------------- ----------------- ---------------- ----------------- CAM Budget 4,775.00 4,775.00 4,775.00 4,775.00 - ------------------- ----------------- ----------------- ---------------- ----------------- Total Monthly 33,120.60 34,901.60 37,138.60 39,658.72 Payment =================== ================= ================= ================ =================
d. Tenant and Landlord agree if the space located at 1825 West Research Way, Suite 6 (the "option space") ever becomes available during the lease term, Tenant must, at Landlord's discretion, lease this option space. 1. Tenant can lease the "option space" consisting of approximately 7,214 square feet. Rent for the "option space" shall be at the same rate as the current rent on the expansion space at the time Tenant takes possession of the "option space." 2. If Tenant does not want the "option space" described above, Tenant must give up the "front office" space and "rear loading" space (as shown on the attached Exhibit "A") to Landlord so that Landlord may have a "marketable" Suite #6. Tenant's rent and size shall then be reduced accordingly. Except as modified by the provisions of this Addendum, all terms, conditions and provisions of the Lease shall remain unchanged and in full force and effect. Executed by the parties on the day and year first written above in Salt Lake City, Utah. LANDLORD: VALLEY AMERICAN INVESTMENT /s/William C. Roderick ------------------------------------------------ William C. Roderick Vice President TENANT: GENTNER COMMUNICATIONS CORPORATION /s/Susie Strohm ------------------------------------------------ By: Susie Strohm Its: Chief Financial Officer STATE OF UTAH ) County of Salt Lake ) On the 22nd day of September, 2000, personally appeared before me WILLIAM C. RODERICK, the signer of the foregoing lease addendum who duly acknowledged to me that he executed the same. /s/ - ---------------------------------------- NOTARY PUBLIC STATE OF UTAH ) County of Salt Lake ) On the 18th day of September, 2000, personally appeared before me Susie Strohm, the signer of the foregoing lease addendum who duly acknowledged to me that he/she executed the same. /s/ - ---------------------------------------- NOTARY PUBLIC