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:
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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").
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2. |
Base Rent |
The Base Rent due for the extended term will be as follows:
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Period |
Monthlv Base Rent Due |
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11/01/2020 - 11/30/2020 |
Free Rent |
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12/01/2020 - 10/31/2021 |
$23,959 |
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11/01/2021 - 10/31/2022 |
$24,558 |
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11/01/2022 - 10/31/2023 |
$25,172 |
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11/01/2023 - 10/31/2024 |
$25,801 |
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11/01/2024 - 10/31/2025 |
$26,446 |
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3. |
Other Terms and Conditions |
All other terms and conditions of the Lease shall remain unchanged and in full force and effect.
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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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Page 1 of 2
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AGREED & ACCEPTED: |
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LESSOR: |
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Pacific Equity Partners, LLC, a California limited liability company |
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By: |
/s/ Adam Milstein |
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Name: |
Adam Milstein |
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Title: |
Chief Financial Officer |
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Dated: |
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By: |
/s/ Robert Neal |
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Name: |
Robert Neal |
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Title: |
Executive Vice President |
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Dated: |
10/1/2020 |
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LESSEE: |
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Staar Surgical Company, a Delaware corporation |
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By: |
/s/ Graydon Hansen |
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Name: |
Graydon Hansen |
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Title: |
Chief Manufacturing Officer |
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Dated: |
2020/09/30 |
Page 2 of 2