SECOND AMENDMENT TO LEASE
Exhibit 10.10
SECOND AMENDMENT TO LEASE
This SECOND AMENDMENT TO LEASE is made this 13th day of November 2008, by and between 2121 SECOND STREET INVESTORS, LLC (as Landlord) and MARRONE ORGANIC INNOVATIONS, INC., a Delaware Corporation (as Tenant) having an office at 2121 Second Street, Suite B-107, Davis, California.
Witnesseth:
Davis Commerce Center, LLC (Landlords predecessor in interest) and Marrone Organic Innovations, Inc., having entered into a lease (the Lease) dated August 3, 2007 for suites B-106 & B-107 as amended by the First Amendment to Lease to include suite B-104 in the Project known as Davis Commerce Park, Davis, California; and
WHEREAS, LANDLORD and TENANT are desirous of amending said Lease in the manner as set forth below, hereby agree as follows:
AMENDMENT
PREMISES:
The parties hereto agree to increase the size of the demised premises by 2,592 rentable square feet in the suite known as B-108 as shown on the attached Exhibit A. Effective March 1, 2009 Tenant shall occupy a total of 10,958 rentable square feet.
TERM:
The Lease term for suite B-108 shall be seventy-one (71) months beginning March 1, 2009 and will terminate on February 10, 2015.
BASE MONTHLY RENT:
Beginning March 1, 2009 Tenant shall pay to Landlord during the remaining Lease Term for suite B-108 monthly rent as follows:
March 1, 2009 February 28, 2010 $1.40 per sq. ft. NNN
March 1, 2010 February 28, 2011 $1.45 per sq. ft. NNN
March 1, 2011 February 28, 2012 $1.50 per sq. ft. NNN
March 1, 2012 February 28, 2013 $1.55 per sq. ft. NNN
March 1, 2013 February 28, 2014 $1.60 per sq. ft. NNN
March 1, 2014 February 10, 2015 $1.65 per sq. ft. NNN
TENANT IMPROVEMENTS:
Landlord shall provide a tenant improvement allowance equal to $25,920.00 to be paid to a tenant improvement contractor selected by Tenant. Any improvement allowance not used by improvements to suite B-108 shall be available to offset costs of improvements underway in B-104.
SECURITY DEPOSIT:
Additional security deposit shall not be required.
LANDLORD: | TENANT: | |||||||
2121 SECOND STREET INVESTORS, LLC | MARRONE ORGANIC INNOVATIONS, INC., a Delaware Corporation | |||||||
By: | /s/ Dan Fivey | By: | /s/ Julie I. Morris | |||||
Dan Fivey | Julie I. Morris | |||||||
Its: | Managing Partner | Its: | Chief Financial Officer |