Sub-Lease Agreement between The Landex Corporation and Elastic Networks Inc. for 125 Queen Street East, Brampton

Summary

The Landex Corporation (Sub-Lessor) and Elastic Networks Inc. (Sub-Lessee) entered into a sub-lease for approximately 300 square feet of office space at 125 Queen Street East, Brampton, starting October 1, 2000. The rent is $850 per month, payable in advance, on a month-to-month basis with two months' notice required for cancellation by either party. The Sub-Lessee must provide liability insurance and pay for its own telephone service. A deposit covering the first and last month's rent plus GST is required. The space is to be used only as an office for a telecommunications company.

EX-10.M 6 a2042618zex-10_m.txt EXHIBIT 10(M) Exhibit (10)(m) [Letterhead of The Landex Corporation] OFFER TO SUB-LEASE TO: THE LANDEX CORPORATION (Hereinafter called the Sub-Lessor) I/We: ELASTIC NETWORKS INC. (Hereinafter called the Sub-Lessee) having inspected the premises located at ADDRESS: 125 Queen Street East, 2nd Floor, Rear 2 Southwest Offices, in the City of Brampton, offer to lease through your BROKER: THE LANDEX CORPORATION SIZE: Approximately 300 square feet, plus occasional use of Board Room RENT COMMENCEMENT DATE: October 1st, 2000 RENTAL SCHEDULE: $10,200.00 per Annum $850.00 Per Month Rent to be on a month-to-month basis with Two (2) months notice of cancellation by either party. MINIMUM RENT: The basic annual rent shall be payable to the Lessor in advance in equal monthly instalments on the first day of each and every month during the term of the Sub-Lease. Rent is to be on a gross basis to the Sub-Lessor. Sub-Lessee to pay for their own telephone installation and service. Occupancy to be given upon acceptance of Offer. DEPOSIT: Cheque for $1,819.00 payable to the Landex Corporation attached hereto to be applied as a deposit on the first and last months rent, and G.S.T., of the term hereby created and to be returned without deduction if this Offer to Lease is not accepted. (1st month $850.00, last month $850.00, G.S.T. $119.00) The Sub-Lessor's G.S.T. No. R121374995. USE: Premises to be used only for Office for a Telecommunications Company. The Sub-Lessee shall, at its own expense, have $1,000,000.00 liability insurance. Lessee understands the premises are NOT sprinklered. It is understood and agreed that all representation made by the Sub-Lessor or any of its representatives, are set out in this agreement and that there are no verbal or other agreements. Lessee will not do or omit or permit to be done or omitted upon the premises anything that will cause the premises or the building in which the premises are situated to be uninsurable, or which would cause the insurance premiums for insurance policies thereon to be increased. If such insurance premiums shall be increased as a result of the use of the premises by the Lessee, then the Lessee shall pay the Lessor the amount by which such insurance premiums are increased. This Offer shall be irrevocable by the Sub-Lessee until SEPTEMBER 21, 2000, after which time, if not accepted, this Offer shall be null and void and any deposits paid shall be returned in full. PLEASE INITIAL [3 sets of illegible initials] OFFER TO SUB-LEASE Page 2 BETWEEN: THE LANDEX CORPORATION (Sub-Lessor) AND: (Sub-Lessee) DATED at Brampton, Ontario this 21 day of September, 2000. WITNESS: ELASTIC NETWORKS INC. Per: /s/ BRIAN SEARL ----------------------------------------- I have the authority to bind the corporation. I/We hereby accept the above Offer. DATED at Brampton, Ontario this 21 day of September, 2000. WITNESS: THE LANDEX CORPORATION Per: /s/ [Illegible] ----------------------------------------- Per: /s/ [Illegible] -----------------------------------------