AMENDMENT TO LEASE
(1730 Technology Drive, San Jose, CA)
THIS AMENDMENT TO LEASE (this Amendment) is dated for reference purposes as of May 19, 2014, by and between SI 55, LLC, a California limited liability company (Landlord) and QuantumScape Corporation, a Delaware corporation (Tenant). Landlord and Tenant may each be referred to in this Amendment individually as a Party, and collectively as the Parties.
A. Landlord and Tenant entered into that certain Lease dated as of May 31, 2013 (the Original Lease) for those Premises located at 1730 Technology Drive, San Jose, California and more particularly described in the Original Lease.
B. The total amount of the Work Allowance determined pursuant to the Original Lease is One Million One Hundred Seventy Two Thousand Seven Hundred Twenty Nine Dollars ($1,172,729). Pursuant to the terms and conditions of the Lease, the Work Allowance is required to be used solely for Work Allowance Alterations. Tenant requested that Landlord perform additional work at Tenants cost (the Additional Landlord Work), and that the cost of such work, which totals Six Hundred Eighty Two Thousand Four Hundred Nineteen Dollars ($682,419), be paid for from the Work Allowance. Landlord is agreeable to paying for the Additional Landlord Work from the Work Allowance, on the terms and conditions described in this Amendment.
C. Tenant completed work constituting Work Allowance Alterations, the cost of which, in the amount of Six Hundred Seventy Six Thousand Four Hundred Seventy Six Dollars ($676,476), was paid for by Tenant to the parties entitled to such payment.
D. The Parties therefore desire to amendment Original Lease on the terms and conditions set forth in this Amendment.
NOW, THEREFORE, Landlord and Tenant, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, agree as follows:
1. Definitions. All capitalized terms not otherwise defined herein shall have the meanings assigned to such terms in the Original Lease.
2. Amendment Effective Date. This Amendment shall be effective when it has been signed by Landlord and Tenant (the date of full execution being the Amendment Effective Date).
3. Work Allowance. The Parties agree that the cost of the Additional Landlord Work, in the amount of Six Hundred Eighty Two Thousand Four Hundred Nineteen Dollars ($682,419), shall be paid for from the Work Allowance. To the extent any portion of such cost has already been paid by Landlord to the third party entitled to payment, the amount paid by Landlord shall be reimbursed to