First Amendment by and between the Company and Pacific Equity Partners, LLC
Exhibit 10.40
FIRST AMENDMENT DATED SEPTEMBER 11, 2020 ("FIRST AMENDMENT") TO STANDARD INDUSTRIAL/COMMERCIAL SINGLE-TENANT LEASE – NET DATED AUGUST 8, 2012 ("LEASE") BETWEEN PACIFIC EQUITY PARTNERS, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY ("LESSOR"), AND STAAR SURGICAL COMPANY, A DELAWARE CORPORATION ("LESSEE")
This First Amendment modifies and amends the Lease as follows:
| 1. | Expiration Date |
The Expiration Date as defined in Section 1.3 of the Lease is hereby extended from October 31, 2020 to October 31, 2025 ("Extended Lease Term").
| 2. | Base Rent |
The Base Rent due for the extended term will be as follows:
| Period | Monthlv Base Rent Due |
| 11/01/2020 - 11/30/2020 | Free Rent |
| 12/01/2020 - 10/31/2021 | $23,959 |
| 11/01/2021 - 10/31/2022 | $24,558 |
| 11/01/2022 - 10/31/2023 | $25,172 |
| 11/01/2023 - 10/31/2024 | $25,801 |
| 11/01/2024 - 10/31/2025 | $26,446 |
| 3. | Other Terms and Conditions |
All other terms and conditions of the Lease shall remain unchanged and in full force and effect.
| 4. | Counterparts |
This First Amendment may be executed by facsimile, PDF and/or electronic transmission, and in counterparts and a fully executed facsimile or PDF copy of this First Amendment shall be deemed to be an original for all purposes.
Signatures On Following Page
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| AGREED & ACCEPTED: | |
| LESSOR: | |
| Pacific Equity Partners, LLC, a California limited liability company | |
| By: | /s/ Adam Milstein |
| Name: | Adam Milstein |
| Title: | Chief Financial Officer |
| Dated: |
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| By: | /s/ Robert Neal |
| Name: | Robert Neal |
| Title: | Executive Vice President |
| Dated: | 10/1/2020 |
| LESSEE: | |
| Staar Surgical Company, a Delaware corporation | |
| By: | /s/ Graydon Hansen |
| Name: | Graydon Hansen |
| Title: | Chief Manufacturing Officer |
| Dated: | 2020/09/30 |
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