Partial Lease Termination Agreement between 488 Main Avenue Associates, LLC and Electronic Retailing Systems International, Inc.

Summary

This agreement is between 488 Main Avenue Associates, LLC (Landlord) and Electronic Retailing Systems International, Inc. (Tenant). It modifies their existing lease by allowing the Landlord to take back part of the leased premises, called the Released Premises, effective September 15, 2000. The Tenant must separate utilities, provide access, and vacate the Released Premises, leaving certain furniture for which the Landlord will pay $6,500. After September 16, 2000, the Tenant’s leased space and rent are reduced. All other lease terms remain unchanged.

EX-10.11 2 exhib1011.txt Exhibit 10.11 PARTIAL LEASE TERMINATION AGREEMENT WHEREAS, 488 Main Avenue Associates, LLC ("Landlord") and Electronic Retailing Systems International, Inc. ("Tenant") are parties to a Lease Agreement dated May, 1997 and an Amendment No. 1 to Lease Agreement dated July, 1997 (together referred to as the "Lease"); and WHEREAS, pursuant to the Lease, Tenant rents from Landlord premises on the third floor of the building (the "subject premises"); and WHEREAS, Tenant is desirous of Landlord taking back a portion of the subject premises (the "Released Premises", as shown on the attached Schedule A) and, Landlord is willing to do so pursuant to the terms and conditions of the herein Partial Lease Termination Agreement; IT IS HEREBY AGREED AS FOLLOWS: 1. That on or before September 15, 2000 Tenant will be responsible for demising the Released Premises from the balance of the subject premises and will do so in compliance with all state and local rules and regulations and will obtain permits as required to perform said work. 2. That on or before September 15, 2000 Tenant will separate the electric service coming into the subject premises such that there will be two meters - - one measuring the electric consumed in the Released Premises and the other measuring the electric consumed in the balance of the subject premises. 3. That on or before September 15, 2000 Tenant will demise the entrance into the utility room as shown on the attached Schedule B so that both Tenant and the new occupant of the Released Premises will have 24-hour access to said room and, the phone and electrical panels therein. In addition, Tenant will remove from this room any and all furniture, personalty and items stored therein. 4. That Tenant will provide to the new occupant of the Released Premises card and key access to the elevator and stairwells so that said occupant will have 24-hour access to said areas and Tenant will modify its security system to allow for the said new occupant's entry into the Released Premises on a 24- hour basis. 5. Tenant will modify the glass panels in the lobby area (immediately off the elevator) so that the new occupant of the Released Premises will have signage equal in size and location to the signage of Tenant. 6. That Tenant will vacate the Released Premises on or before September 15, 2000 and will leave therein only that furniture described in the attached Schedule C. 7. That Landlord will pay to Tenant $6,500 for the said furniture as listed on Schedule C and Tenant will execute a Bill of Sale for same. 8. That as of September 16, 2000 the rentable square footage of the Lease shall be reduced to 9,000 square feet and the rent and additional charges therein shall be reduced accordingly. 9. That Tenant relinquishes any and all rights it has to the Released Premises. 10. It is the intent of the herein Agreement to terminate the Lease only as to the Released Premises and it is agreed that all other terms and conditions of the Lease shall remain in full force and effect. Dated: August 21, 2000 s/James Randel s/Jerry McAuliffe - -------------------------- -------------------------- Main Avenue Associates, LLC Electronic Retailing By: James Randel Systems International, Inc. Its: Managing Member By: Jerry McAuliffe Its: VP, CFO