Lease Agreement Modifications between Landmark Investments Limited and Verisity Design, Inc.
Landmark Investments Limited (Landlord) and Verisity Design, Inc. (Tenant) have agreed to extend the expiration dates of several lease agreements for various suites to June 30, 2004. Additionally, starting in early 2004, the monthly rent for each suite will be reduced to $2.00 per square foot. All other terms and conditions of the original lease agreements remain unchanged. These modifications are formalized and signed by both parties' authorized representatives.
EXHIBIT 10.47
MODIFICATION #1
To: Verisity Design, Inc. (Suite 2041)/Landmark Investments Limited Leases Agreement dated August 10, 1998
This Modification No.1 to the Lease Agreement between LANDMARK INVESTMENTS LIMITED, THRUST IV, INC. (Landlord) and VERISITY DESIGN, INC. (Tenant) dated August 10, 1998, is entered into as of September 19, 2003, by and between Landlord and Tenant.
Landlord and Tenant herein agree to change the terms of their Lease Agreement as follows:
| 1. | The Lease expiration date shall be extended to 6/30/04. |
| 2. | Commencing January 1, 2004, Tenant’s Rent shall be reduced to $2.00 per square foot ($16,928.00). |
Except as herein modified all the terms and conditions set forth in the Lease and its Addendum (s) remain unchanged.
| Landlord: | Tenant: | |||||
| LANDMARK INVESTMENTS LIMITED | VERISITY DESIGN, INC. | |||||
| By: Thrust IV, Inc., General Partner | By: | |||||
| /s/ Hugh P. Bikle | /s/ Charles G. Alvarez | |||||
| Hugh P. Bikle, President | Charles G. Alvarez | |||||
| (Print Name) | ||||||
| Its: | VP Finance/CFO | |||||
MODIFICATION #1
To: Verisity Design, Inc. (Suite 1923)/Landmark Investments Limited Leases Agreement dated December 19, 2001
This Modification No.1 to the Lease Agreement between LANDMARK INVESTMENTS LIMITED, THRUST IV, INC. (Landlord) and VERISITY DESIGN, INC. (Tenant) dated December 19, 2001, is entered into as of September 19, 2003, by and between Landlord and Tenant.
Landlord and Tenant herein agree to change the terms of their Lease Agreement as follows:
| 1. | The Lease expiration date shall be extended to 6/30/04. |
| 2. | Commencing January 1, 2004, Tenant’s Rent shall be reduced to $2.00 per square foot ($6,474.00/mo.). |
Except as herein modified all the terms and conditions set forth in the Lease and its Addendum (s) remain unchanged.
| Landlord: | Tenant: | |||||
| LANDMARK INVESTMENTS LIMITED | VERISITY DESIGN, INC. | |||||
| By: Thrust IV, Inc., General Partner | By: | |||||
| /s/ Hugh P. Bikle | /s/ Charles G. Alvarez | |||||
| Hugh P. Bikle, President | Charles G. Alvarez | |||||
| (Print Name) | ||||||
| Its: | VP Finance/CFO | |||||
MODIFICATION #2
To: Verisity Design, Inc. (Suite 2037)/Landmark Investments Limited Leases Agreement dated August 10, 1998
and last Modified (Modification #1) dated May 5, 1999,
This Modification No.2 to the Lease Agreement between LANDMARK INVESTMENTS LIMITED, THRUST IV, INC. (Landlord) and VERISITY DESIGN, INC. (Tenant) dated August 10, 1998 and last modified (Modification #1), May 5, 1999, is entered into as of September 19, 2003, by and between Landlord and Tenant.
Landlord and Tenant herein agree to change the terms of their Lease Agreement as follows:
| 1. | The Lease expiration date shall be extended to 6/30/04. |
| 2. | Commencing January 1, 2004, Tenant’s Rent shall be reduced to $2.00 per square foot ($12,480.00/mo.). |
Except as herein modified all the terms and conditions set forth in the Lease and its Addendum (s) remain unchanged.
| Landlord: | Tenant: | |||||
| LANDMARK INVESTMENTS LIMITED | VERISITY DESIGN, INC. | |||||
| By: Thrust IV, Inc., General Partner | By: | |||||
| /s/ Hugh P. Bikle | /s/ Charles G. Alvarez | |||||
| Hugh P. Bikle, President | Charles G. Alvarez | |||||
| (Print Name) | ||||||
| Its: | VP Finance/CFO | |||||
MODIFICATION #1
To: Verisity Design, Inc. (Suite 2089)/Landmark Investments Limited Leases Agreement dated January 16, 2001
This Modification No.1 to the Lease Agreement between LANDMARK INVESTMENTS LIMITED, THRUST IV, INC. (Landlord) and VERISITY DESIGN, INC. (Tenant) dated January 16, 2001, is entered into as of September 19, 2003, by and between Landlord and Tenant.
Landlord and Tenant herein agree to change the terms of their Lease Agreement as follows:
| 1. | The Lease expiration date shall be extended to 6/30/04. |
| 2. | Commencing February 1, 2004, Tenant’s Rent shall be reduced to $2.00 per square foot ($2,164.00/mo.). |
Except as herein modified all the terms and conditions set forth in the Lease and its Addendum (s) remain unchanged.
| Landlord: | Tenant: | |||||
| LANDMARK INVESTMENTS LIMITED | VERISITY DESIGN, INC. | |||||
| By: Thrust IV, Inc., General Partner | By: | |||||
| /s/ Hugh P. Bikle | /s/ Charles G. Alvarez | |||||
| Hugh P. Bikle, President | Charles G. Alvarez | |||||
| (Print Name) | ||||||
| Its: | VP Finance/CFO | |||||
