Third Amendment to Office Lease, between Highline Office 1, L.C. and Pluralsight, LLC, dated as of May 20, 2020
EX-10.3 4 psq22020-ex103.htm EXHIBIT 10.3 Exhibit
THIRD AMENDMENT TO LEASE AGREEMENT
This Third Amendment to Lease Agreement (this "Amendment") is made and entered into as of this 20th day of May, 2020, by and between Highline Office 1, L.C., a Utah limited liability company (the "Landlord"), and Pluralsight, LLC, a Nevada limited liability company (the 'Tenant").
WHEREAS, on August 31, 2018, Landlord and Tenant entered into that certain Lease Agreement pursuant to which Landlord agreed to lease to Tenant, and Tenant agreed to lease from Landlord, the Leased Premises, which Lease Agreement was amended by that certain First Amendment to Lease Agreement dated November 6, 2018, and which Lease Agreell1ent was further amended by that certain Second Amendment to Lease Agreement dated February 13, 2019 (collectively, the "Lease"). Capitalized terms used but not defined herein shall have their respective meanings set forth in the Lease.
WHEREAS, Landlord continues to work toward Substantial Completion of the Landlord Improvements, which Substantial Completion is currently scheduled to occur on or before June 24, 2020.
WHEREAS, Tenant bas requested that Landlord agreed to delay, and Landlord has agreed to delay, the Rent Commencement Date until July 24, 2020.
NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
1.Recitals. The recitals are incorporated herein by reference.
2.Rent Commencement Date; Term. The Rent Commencement Date under the Lease is hereby established as July 24, 2020. The initial Term of the Lease win expire on August l, 2035.
3.Basic Annual Rent. Basic Annual Rent under the Lease as of the Rent Commencement Date is $7,875,000, which amount is subject to abatement as provide in Section 3.2 of the Lease.
4.Entire Agreement. This Amendment contains the entire understanding of Tenant and Landlord and supersedes all prior oral or written understandings relating to the subject matter set forth herein. Except as expressly modified and amended hereby, all other terms and conditions of the Lease shall continue in full force and effect.
5.Counterparts. This Amendment may be executed in counterparts each of which shall be deemed an original. An executed counterpart of this Amendment transmitted by facsimile shall be equally as effective as a manually executed counterpart.
6.Successors and Assigns. This Amendment shall inure for the benefit of and shall be binding on each of the parties hereto and their respective successors and/or assigns.
7.Authority. Each individual executing this Amendment does thereby represent and warrant to each other person so signing (and to each other entity for which such other person may be signing) that he or she has been duly authorized to deliver this Amendment in the capacity and for the entity set forth where she or he signs.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, Landlord and Tenant have entered into this Amendment as of the date first set forth above.
LANDLORD: HIGHLINE OFFICE 1, L.C., a Utah limited
liability company, by its Managers
KC GARDNER COMPANY, L.C.,
a Utah limited liability company
/s/ Christian Gardner
TRIPLE S INVESTMENT CO., L.L.C.,
a Utah limited liability company
/s/ S. Val Staker
S. Val Staker
PLURALSIGHT, LLC, a Nevada limited liability company
/s/ Mark Hansen
Director of Finance and Accounting