Lease for Commercial Land and Building 151 24th AVENUE SW, OWATONNA, MINNESOTA

Exhibit 10.2

Lease for Commercial Land and Building

151 24^th AVENUE SW, OWATONNA, MINNESOTA

This Agreement, made this 21st day of July, 2005 between Doug Hughes Properties, LLC, (the “Landlord”), and Cybex International, Inc., (the “Tenant”).

WITNESSETH, that the said Landlord in consideration of the Rents, Covenants and Conditions of this Lease, hereby leases to the Tenant the following described Premises, situated in Steele County, at 151 24^th Avenue SW, Owatonna, Minnesota, described as approximately 200,000 square feet and attached property as more particularly described in Exhibit A attached hereto.

(a) A policy of comprehensive public liability insurance naming the Tenant as the insured and Landlord as the additional insured to insure against injury to property, persons, or loss of life arising out to the ownership, use occupancy, or maintenance of the Premises, with limits of public liability not less than $1,000,000 per occurrence combined single limit coverage for death and /or bodily injury including personal injury and property damage liability.

(b) A policy providing “All Risk” coverage insuring Tenant’s business, leasehold improvements, merchandise, trade fixtures, furnishings, equipment, full coverage of loss of revenue and personal property.

(c) The Landlord may from time to time require that the policy limits of any or all such insurance be increased to reflect the effects of inflation and changes in normal commercial insurance practices.

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(a) A policy of comprehensive public liability insurance on the Common Areas with limits of public liability not less than $1,000,000 per occurrence combined single limit coverage for death and /or bodily injury including personal injury and property damage liability.

(b) A policy providing “All Risk” coverage excluding the Tenant’s business, leasehold improvements, merchandise, trade fixtures, furnishings, equipment, loss of revenue, personal property and on the Premises. The coverage shall be for the full insurable replacement value thereof.

(c) All premium costs and all other costs and expenses incurred by the Landlord in providing the insurance required of Landlord shall be considered an Operating Expense and applied to the Tenant’s monthly triple-net operating costs with the rent.

(a) TENANT SHALL INDEMNIFY, defend and hold harmless the Landlord from and against any and all claims arising from Tenant’s use of the Premises, or from the conduct of Tenant’s business or from any activity, work or things done, permitted or suffered by Tenant in or about the Premises and shall further indemnify, defend and hold harmless Landlord from and against and all claims arising from any negligence of the Tenant, or any of Tenant’s agents, contractors, or employees, and from and against all cost, attorney’s fees, expenses and liabilities incurred in the defense of any such claim or any action of proceeding brought thereon, unless arising from Landlord’s negligence or willful misconduct.

(b) LANDLORD SHALL INDEMNIFY, defend and hold harmless Tenant from and against any and all claims arising from the conduct of Landlord’s business in or about property, and shall further indemnify, defend and hold harmless Tenant from and against any and all claims arising from any negligence of the Landlord, or Landlord’s agents, contractors or employees, and from and against all costs, attorney’ fees, expenses, and liabilities, incurred in the defense of any such claim or any action or proceeding brought thereon.

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(a) Common Area Maintenance (CAM): The Tenant will be responsible for the CAM Expenses. The CAM Expenses will be calculated based on the Percent of rentable square footage occupied by the Tenant in relation to the total square footage of building times the total amount of all CAM Operating Expenses paid during each Lease Month.

(b) CAM Expenses are the operating expenses consisting of, but not limited to: real estate taxes and all taxes and assessments related to Premises, cleaning, utilities, outdoor lighting, waste management, outdoor and indoor window washing, lawn mowing and landscaping maintenance, snow and ice removal, property and liability insurance, supplies, fire protection charges, pest control and any and all other costs applied to the property. CAM shall not include management fees.

(c) Any and all CAM Charges paid by the Landlord will be at the actual cost as a pass-through to the Tenant with no commissions/percentages applied by the Landlord. To simplify the monthly lease payment by making the payment equal each month for a given lease year, the Lease payment will include an estimated monthly CAM amount to equal the same payment each month and reconciled in the first 60 days of the following year. To further simplify the monthly CAM Expenses, many of the CAM related costs should be paid directly by the Tenant to the provider except for the Property taxes. Tenant may audit Landlord’s records relating to CAM Expenses.

(a) The 5-Year Lease Term will begin in conjunction with the Closing of the property purchase under the Agreement. The closing date will be the lease start date.

(b) Tenant shall have the right to renew this lease for one (1) additional term of five (5) years beyond the initial 5 year term. Tenant shall provide written notice of its intent to renew ninety (90) days before the expiration of the initial 5 year lease term. The rent during the renewal term shall be $2.65 per rentable square feet of the Premises.

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(a) Tenant shall provide written notice to Landlord stating the commencement date of its relocation to a new facility. Commencing with the start of the Tenant’s move to a new facility, Tenant agrees to the payment in FULL of the monthly base rent and CAM Expenses for a period of 90 days for the Premises. Tenant may terminate the Lease any time after this 90 day period. Cybex will have the first option to lease the Premises, if required. Marketing of the Premises to new tenant(s) may be actively pursued beginning in 2005. During the 90 day transition period, Landlord may begin Code Compliance and preparation for a new tenant.

(b) In the event Tenant elects not to relocate to a new facility, Tenant has the option to purchase the property back. The Repurchase Option would be available on August 1, 2007 at the earliest (2 years from the anticipated lease date) at the sale of price $3,600,000 plus customary like expenses and subject to the terms and conditions provided in the Agreement. The Repurchase Option period will be August 1, 2007 through December 1, 2007 (120 days). Anytime during the Repurchase Option period Tenant may exercise its option by written notice to Landlord at which time a purchase agreement consistent with the applicable terms and conditions of the Agreement would be entered into with the earliest possible closing date scheduled to be no later then December 1, 2007. Tenant’s Repurchase Option shall be recorded.

(a) Upon default of the Lease and the failure of the Tenant to make good on this Lease, the parties agree that the Landlord shall have the option to terminate this Lease or to re-enter and take possession of the demised Premises without terminating this Lease. If Landlord elects to re-enter and take possession without terminating this Lease, Landlord may re-let the Premises or any part thereof upon such terms and conditions as Landlord, deems necessary.

(b) All rent paid by the Tenant to the Landlord during the re-letting period shall be applied to reimburse the Landlord for all related expenses to a default. In the event that the Landlord re-lets all or a portion of the Tenants space, the Tenant will remain responsible only for rents and all other costs not covered by the re-letting.

(c) Landlord shall have a duty to mitigate its damages and its potential loss of rent and other expenses by diligently pursuing a new tenant in the event of an early termination of the Lease as a result of Tenant’s default.

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(a) In the event the whole Premises is taken or condemned for a public use or purpose by a competent authority and the Premises cannot be used for the same purpose intended under this Lease, this Lease shall terminate upon the delivery of possession to the condemning authority. The Tenant shall have no claim against Landlord by reason of such taking or condemnation and Tenant shall continue to pay rent and other CAM Expenses hereunder until possession is delivered. Tenant retains any award for business dislocation/relocation.

(b) In the event only a part of the Premises is taken or condemned but the Premises or the part remaining can still be used for the same purpose and substantially the same use to the Tenant as immediately prior to the taking or condemnation, this Lease shall not terminate and Landlord shall repair and restore the Premises and rent shall be adjusted pro-rata.

(a) LANDLORD Obligations - The Landlord may perform updates to the property so long as it does not interfere with the Tenant’s business. The Landlord shall not have responsibility for damage to merchandise or to Tenant’s fixtures or build-out improvements unless the Landlord, agents or contractors acting at Landlord’s request are negligent in performing the maintenance or repair.

(b) TENANT Obligations - The Tenant shall keep its build-out improvements and trade fixtures in the Premises maintained and repaired and shall make replacements, maintenance and updates thereof, to maintain the integrity of the property during the term of this Lease. The Tenant shall provide scheduled maintenance, maintain and repair all mechanical systems, electrical, heating, ventilating, air conditioning, restroom, lighting, etc. fixtures and facilities that are a part of the Tenant’s operating function of the Premises, and/or damaged as a result of negligence of the Tenant, agents, employees, invitees, contractors, customers etc.. The Tenant shall replace all failed mechanical systems, electrical, heating, ventilating, air conditioning, restroom fixtures, lighting, etc. fixtures and facilities that are a part of the fixed assets of the property that fail under normal circumstances. The Tenant shall keep the exterior of the property maintained, repaired or replaced as needed to the condition of the property at the time of closing and to any upgrades provided by the Landlord. For remodeling and updating the Premises the Tenant, shall request written permission from the Landlord.

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(a) The Tenant shall conduct its business in a manner consistent with the purpose and character of the property. The character of the property is any business that does not create annoying sounds, music, noises, odors and nuisances, which are audible or detectable outside of the Premises that disturb neighbors to the property.

(b) To keeping the Premises clean and attractive in appearance at all times and to keep any trash in proper containers in the interior of the Premises out of sight until it is removed and put in the outdoor container. Tenant will be responsible for their garbage service and all waste related to the Tenants business.

(c) Not to perform activities, or perform anything, in or about the Premises which exposes the Landlords insurance policies or increases the premiums therefore.

(d) To comply with all applicable ordinances, rules, regulations, and requirements of all federal, state, and municipal governments, which relate to the Premises or the business Tenant conducts on or from the Premises.

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IN WITNESS WHEREOF, Tenant and Landlord have executed this instrument as of the date set

This 25^th day of July 2005.

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The foregoing instrument was acknowledged before me this      day of                     , 2005, by                             , the                             , respectively                             , a Mass. Corporation, on behalf of the Company.

The foregoing instrument was acknowledged before me this      day of                     , 2005, by                             , the                             , respectively of Doug Hughes Properties, LLC, a Minnesota limited liability company, on behalf of the limited liability company.

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EXHIBIT A

PLAN DRAWING

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