EX-10.4 5 rxst-ex10_4.htm 100-150 COLUMBIA FIFTH AMENDMENT

Exhibit 10.4

FIFTH AMENDMENT (EXTENSION TO THE LEASE)

THIS Amendment (hereinafter referred to as the “Fifth Amendment”), dated the 18th day of April 2024, is entered into by ACCURIDE INTERNATIONAL INC., a California corporation (hereinafter referred to as “Landlord”) and RXSIGHT, Inc., a Delaware corporation, (hereinafter referred to as “Tenant”). The parties agree as follows:

A.
Identification of Lease. Reference is made to that certain Commercial Lease

Agreement dated August 31 st, 2015 (the “Original Lease”), as amended by that certain First

Amendment to the Lease dated November 23 rd, 2015, as amended by that certain Second

Amendment to the Lease dated December 22 nd , 2015 , as amended by that certain Third

Amendment to the Lease dated January 18 th, 2016, as amended by that certain Fourth Amendment to the Lease dated November 12 th, 2016, (The Original Lease, as so amended, is herein collectively referred to as the “Lease”) for certain premises containing approximately 21,498 rentable square feet located at 100 Columbia Suite 200, Aliso Viejo, CA and 20,608 rentable square feet located at 100 Columbia Suite 100, Aliso Viejo Ca as more particularly described in the Lease as the Premises.

B.
Context of Fifth Amendment. The parties have agreed to the following:
1.
Term/Premises. Landlord and Tenant agree to extend the Lease for an additional 76 months for the total 42,106 square feet.
2.
The Lease extension period. The Lease Extension Period shall be from October 1, 2024 and January 31, 2031.
3.
Tenant Improvement Allowance. Landlord shall provide a $50,000 allowance for all mutually agreed upon building improvements. Tenant agrees to allocate up to $10,000 of the allowance to upgrade the trash enclosure to match the enclosures located at 120/140 and 150 Columbia. Tenant shall provide a work letter defining what work will be covered under the Tenant Improvement Allowance. (See Attachment A)
4.
ISLC. Any existing Irrevocable Standby Letter of Credit (ISLC) issued to Landlord shall be canceled and nullified as of September 30, 2024. As of the commencement of the Fifth Amendment, Tenant shall be required to:
i.
Submit a copy or link of its 10-Q and 10-K to Landlord within ten (10) business days of public release.
ii.
In the event Tenant’s cash and equivalents fall below $40,000,000, Tenant shall notify Landlord within ten (10) business days.
iii.
In the event Tenant’s cash equivalents fall below $30,000,000 for any five (5) business day period, Tenant shall notify Landlord within two (2) business days and provide Landlord with an Irrevocable Standby Letter of Credit (ISLC) in the amount of $773,661.81 within thirty (30 calendar days). Tenant shall conform to the format issued under the ISLC requirements (Attachment F, under the Original Lease)

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C.
Rent During Fifth Extension Period. During the Fifth Extension Period, the base rent payable shall be the amount called for by the following:

Months | Rate/SF | Rate/Month
*01-12: | $1.540 | $64,843.24 Plus NNN
13 – 24: | $1.594 | $67,112.75 Plus NNN
25 – 36: | $1.650 | $69,461.70 Plus NNN
37 – 48: | $1.707 | $71,892.86 Plus NNN
49 – 60: | $1.767 | $74,409.11 Plus NNN
61 – 72: | $1.829 | $77,013.43 Plus NNN
73 – 76: | $1.893 | $79,708.90 Plus NNN

*Abated Base rent in months 2,11 and 12

In addition to the base rent, Tenant shall be responsible for the Triple Net expenses as per the

existing Lease.

D.
Option to Renew. Tenant shall receive two (2) five (5) year Options to Extend the Lease at the end of the Fourth Amendment term. All other Renewal options prior to this Fifth Amendment shall be null and void. Tenant shall provide notice to renew with no less than nine (9) months prior written notice and no more than Twelve (12) months prior to the Lease Expiration date, of its intention to extend the lease. The base rent amounts for the option periods shall be at 95% of FMV and not less than the last month’s rent paid.
E.
Deposit. Upon lease execution, Tenant shall pay a Security Deposit equal to the last month’s rent ($79,708.90). The existing security deposit of the current lease is $52,905.71 and shall be increased by $26,803.19 at execution.
F.
Commission. Neither Party was represented by a Broker in the matter.
G.
Miscellaneous. Any term used in this Fifth Amendment, which is defined in the Lease, shall have the same meaning herein, unless the context indicates that another meaning is intended. The Lease is intended to be and is supplemented and amended by the provisions of this Fifth Amendment, and hereafter the Lease shall be considered and construed together. All of the terms, provisions, conditions, and covenants of the Lease, as modified by this Fifth Amendment, shall be and remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be executed on or as of the day and year above written.

“Landlord”: |  | “Tenant”:
ACCURIDE INTERNATIONAL INC. a California Corporation |  | RXSIGHT, Inc. a Delaware Corporation
By: | Jeffrey A. Dunlap |  | By: | /s/ Ron Kurtz
|  |  | Title: | President &CEO
Date: | 4/18/2024 |  | Date: | 4/18/2024

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Attachment A

WORK LETTER EXAMPLE

(Tenant Improvements)

100 Columbia, Suite 100, Aliso Viejo, CA

1.
TENANT IMPROVEMENTS

The tenant improvement work (“Tenant Improvements”) shall consist of the work required to complete certain improvements to the Premises based on a working floor drawing attached as Exhibit B. Tenant shall contract with a general contractor, identified as J.S. Shafer & Associates, Inc. to construct the Tenant Improvements. The Tenant Improvements work shall be undertaken and prosecuted in accordance with the following requirements:

A.
It is understood that except as provided below, the Tenant Improvements shall only include actual improvements to the Premises approved by Landlord identified in Attachments A and B and shall exclude (but not by way of limitation) Tenant’s furniture, trade fixtures, partitions, equipment and signage improvements, if any. Further, the Tenant Improvements shall incorporate Landlord’s building standard materials and specifications (“Standards”). No deviations from the Standards may be requested by Tenant with respect to doors and frames, finish hardware, entry graphics, the ceiling system, light fixtures and switches, mechanical systems, life and safety systems, and/or window coverings; provided that Landlord may, in its sole discretion, authorize in writing one or more of such deviations, in which event, unless Landlord otherwise agrees in its sole discretion, Tenant shall be solely responsible for the cost of replacing same with the applicable Standard item(s) upon the expiration or termination of this Lease. All other non-standard items (“Non-Standard Improvements”) shall be subject to the prior approval of Landlord, which may be withheld in Landlord’s sole discretion. Landlord shall in no event be required to approve any Non-Standard Improvement if Landlord determines that such improvements (i) is of a lesser quality than the corresponding Standard, (ii) fails to conform to applicable governmental requirements, (iii) requires building services beyond the level Landlord has agreed to provide Tenant under this Lease, or (iv) would have an adverse aesthetic impact from the exterior of the Premises.
B.
Tenant shall use a licensed general contractor (Identified as J.S. Shafer & Associates) and that contractor’s selected subcontractors to construct the Premises.
C.
The TI Contractor and each of its subcontractors shall comply with Landlord’s requirements as generally imposed on third party contractors, including without limitation all insurance coverage requirements and the obligation to furnish appropriate certificates of insurance to Landlord, prior to commencement of construction or the Tenant Improvements work.
D.
A construction schedule shall be provided to Landlord and Tenant prior to commencement of the construction of the Tenant Improvements work, and weekly updates shall be supplied

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Work Letter (Continued)

E.
The Tenant Improvements work shall be prosecuted at all times in accordance with all state, federal and local laws, regulations and ordinance, including without limitation all OSHA and other safety laws, the Americans with Disabilities Act (“ADA”) and all applicable governmental permit and code requirements.
F.
Tenant hereby designates Richard Drinkward, Telephone No. (949) 521-7833, as its representative, agent and attorney-in-fact for the purpose of receiving notices, approving submittals and issuing requests for Changes and Landlord shall be entitled to rely upon authorizations and directives of such persons as if given directly by Tenant. Tenant may amend the designation of its construction representative(s) at any time upon delivery of written notice to Landlord.

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2.
COST OF TENANT IMPROVEMENTS

Tenant Improvement-CV-2A | Attachment C | J. S. Shafer & Associates, Inc.
100 Columbia, Suite 100 |  | Schedule of Values
Aliso Viejo, CA 92656 |  | Job No. 2362
blank |  | 08/29/16

CSI | Item Description | Count | Unit | Unit Cost | Item Values
01030 | General Conditions |  |  |  | 70,048.80
01000 | Building Permit Fees | 1 | Allowance | 12,500.00 | 12,500.00
01027 | Electrical Engineering | 1 | Lot | 18,000.00 | 18,000.00
01028 | Mechanical Engineer | 1 | Lot | 8,000.00 | 8,000.00
01032 | Printing & copying | 1 | Allowance | 750.00 | 750.00
01523 | Scissor / boom lifts-rentals | 1 | Each | 1,200.00 | 1,200.00
01560 | Dispose 4-ft flourescent tubes removed | 1 | Lot | 496.32 | 496.32
01566 | Debris disposal-dumpsters | 3 | Each | 800.00 | 2,400.00
02070 | Demo-walls 254' @ 9.5' | 3,420 | Sq. Ft. | 2.00 | 6,840.00
02070 | Demo-additional per 09/14 plan-130 In.ft. | 1,260 | Sq. Ft. | 2.00 | 2,520.00
02070 | Demo wall cladding of X-frame, remove nailer | 6 | Man hours | 39.48 | 236.88
02071 | Demo-acoustic ceilings | 5,384 | Sq. Ft. | 0.75 | 4,038.00
02072 | Demo-existing 2x4 flourescent fixtures | 117 | Each | 9.00 | 1,053.00
02073 | Demo-existing carpet, vct-break rm, wall base | 8,493 | Sq. Ft. | 0.45 | 3,821.85
02074 | Demo sheet vinyl & cove base-rest rooms | 475 | Sq. Ft. | 1.00 | 475.00
02075 | Demo existing toilet partitions | 1 | Lot | 200.00 | 200.00
02076 | Demo & abandon existing plumbing drains | 12 | Man hours | 47.53 | 570.36
02080 | Conc cut, demo & dispose - sink installs | 60 | Sq. Ft. | 13.00 | 780.00
02081 | Conc cut, demo-undergound elect & piping | 14 | Sq. Ft. | 13.00 | 182.00
03030 | Replace concrete-sink install | 60 | Sq. Ft. | 18.00 | 1,080.00
03031 | Replace concrete-underground elect &piping | 14 | Sq. Ft. | 18.00 | 252.00
03034 | Conc slab crack-grind open & fill w/ Sika | 280 |  | 2.35 | 658.00
06200 | Install mid-span support-Chem Lab ceiling | 1 | Lot | 488.15 | 488.15
06400 | Cabinetry-relocate/modify existing | 1 | Allowance | 2,000.00 | 2,000.00
06410 | Cabinetry-new Saron counter top | 28 | Sq. Ft. | 48.00 | 1,344.00
07210 | Insulation-R19 faced-Existing @ mezz-repair | 1 | Lot | 1,638.25 | 1,638.25
07211 | Insulation-R11 | 1 | Lot | 1,098.25 | 1,098.25
07212 | Insulation-R-30 at roof of CV-2A only | 1 | Lot | 13,650.00 | 13,650.00
07215 | Insulation-R13-in partition walls | 3,360 | Sq. Ft. | 1.15 | 3,864.00
07216 | R-19 insulation in 6" walls-Chem Lab | 1,080 | Sq. Ft. | 1.45 | 1,566.00
07217 | R-30 insulation in ceiling of Chem Lab | 900 | Sq. Ft. | 1.85 | 1,665.00
07700 | Roof repair work | 4 | Lot | 750.00 | 3,000.00
08331 | Repair 2 roll-up doors at Warehouse | 2 | Each | 1,208.00 | 2,416.00
08500 | Metal window frame & install-5-0x4-0 ea | 6 | Each | 392.20 | 2,353.20
08501 | Window w/ Pyran fire safety glass-1-hr rating | 1 | Allowance | 750.00 | 750.00
08801 | Door-stain birch-frame-side lite-8 ft-hrdwre-ins | 4 | Lot | 950.00 | 3,800.00
08802 | Doors-6-0x8-0, stain grade, hardware, install | 4 | Each | 1,100.00 | 4,400.00
08803 | Install doors saved for re-use | 14 | Lot | 150.00 | 2,100.00
08804 | Door-3-0x8-0, stain grade, hardware, installed | 4 | Lot | 800.00 | 3,200.00
08805 | Replace door access hardware to match CV1 | 22 | Each | 130.00 | 2,860.00
08806 | Kick plates-stainless-installed | 14 | Each | 44.57 | 623.98
08807 | Door closers-installed | 8 | Each | 155.00 | 1,240.00
09104 | Frame & drywall - H=10-ft, per 9/14 plan | 1 | Lot | 28,600.00 | 28,600.00
09105 | Frame & drywall-ceiling Chem Lab-9/14 plan | 900 | Sq. Ft. | 11.12 | 10,008.00
09107 | Drywall-recessed boxes for lights 1-hr | 16 | Each | 95.00 | 1,520.00
09108 | Frame & drywall-combo fire/smoke dampers | 7 | Each | 250.00 | 1,750.00
09109 | Drywall furring & details at A-frame exposed | 1 | Allowance | 975.00 | 975.00
09110 | Drywall-cut patch-finish-T24 outlets | 9 | Each | 375.00 | 3,375.00

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Cost of Tenant Improvements (Continued)

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Tenant Improvement-CV-2A | Attachment C | J. S. Shafer & Associates, Inc.
100 Columbia, Suite 100 |  | Schedule of Values
Aliso Viejo, CA 92656 |  | Job No. 2362
blank |  | 08/29/16

CSI | Item Description | Count | Unit | Unit Cost | Item Values
09115 | Backing supports-2 rows-in walls-Rm 154 | 60 | Ln. Ft. | 5.50 | 330.00
09512 | T-bar grid-new-office area-standard tile | 2,564 | Sq. Ft. | 3.74 | 9,589.36
09513 | T-bar & Gridstone-148,148,150,153,154,155 | 2,000 | Sq. Ft. | 4.65 | 9,300.00
09514 | Replace ceiling tile w/ matching CV-1 tile | 2,976 | Sq. Ft. | 1.56 | 4,642.56
09515 | Install hard washable ceiling tile in Rest Rms | 500 | Sq. Ft. | 2.65 | 1,325.00
09666 | Vinyl ESD flooring - Rm 153 Hardware Dev | 580 | Sq. Ft. | 7.92 | 4,593.60
09675 | Sheet vinyl-Rm 154 - Upgraded material | 900 | Sq. Ft. | 9.34 | 8,406.00
09676 | Sheet vinyl-Rest Rooms-Coved-Upgrade mtl | 500 | Sq. Ft. | 8.20 | 4,100.00
09677 | VCT flooring - NIC - by others | 1 | Lot | 1.00 | 1.00
09678 | Carpet tile - NIC - by others | 1 | Lot | 1.00 | 1.00
09678 | Vinyl-rubber wall base - NIC - by others | 1 | Lot | 1.00 | 1.00
09910 | Finish new & existing doors-stain-clear coat | 29 | Each | 75.00 | 2,175.00
09966 | Vinyl ESD floor-buff & polish-ESD procedure | 1 | Lot | 575.00 | 575.00
09970 | FRP-replace in rest rooms | 1 | Lot | 2,100.00 | 2,100.00
09990 | Painting-interior-walls-all except Rm 154 | 18,324 | Sq. Ft. | 0.88 | 16,125.12
09991 | Painting-interior-Rm 152-Epoxy | 1,080 | Sq. Ft. | 1.70 | 1,836.00
09992 | Painting-ceiling of Rm 152-Epoxy | 900 | Sq. Ft. | 1.97 | 1,773.00
09995 | Paint west stair shaft & drywall repair | 1 | Allowance | 750.00 | 750.00
09996 | Detail painting-A frame exposed | 1 | Lot | 400.00 | 400.00
10400 | Signage-code required only | 1 | Lot | 420.00 | 420.00
10520 | Fire extinguisher cabinets | 4 | Each | 262.00 | 1,048.00
10600 | Toilet partitions-new-stainless | 1 | Lot | 9,017.00 | 9,017.00
10800 | Toilet accessories-new | 1 | Lot | 4,887.00 | 4,887.00
11000 | Assist CV installations of equipment-Allow | 40 | CrewHours | 90.51 | 3,620.40
12512 | Louver blinds-installed | 76 | Each | 131.00 | 9,956.00
12526 | Remove & replace window films | 1 | Lot | 1.00 | 1.00
15310 | Nitrogen-extend existing & 5 points of service | 1 | Allowance | 4,500.00 | 4,500.00
15315 | Compressed air-extend exist-10 points svc | 1 | Allowance | 6,500.00 | 6,500.00
15316 | Clean water-extend to sinks in labs | 1 | Allowance | 1,800.00 | 1,800.00
15401 | New condensate piping | 1 | Allowance | 1,000.00 | 1,000.00
15405 | Dig trenches & backfill-sink drains, electrical | 1 | Lot | 1,000.00 | 1,000.00
15449 | Underground sewer pipe explore & video | 1 | Lot | 750.00 | 750.00
15450 | Plumbing per plans P-1 & P-2 dated 7/20/16 | 1 | Allowance | 17,500.00 | 17,500.00
15451 | Install CV's sink &disposer-ice mkrCoffee Bar | 1 | Allowance | 1,500.00 | 1,500.00
15455 | Replace toilets, lavs, urinals-install hands free | 1 | Lot | 10,629.00 | 10,629.00
15456 | Repair trap primers-R/Rs | 1 | Allowance | 1,400.00 | 1,400.00
15620 | Hvac-air balance & report-per unit | 1 | Lot | 4,995.00 | 4,995.00
15650 | Hvac-pads for new compressors | 2 | Each | 1,500.00 | 3,000.00
15800 | Hvac-Rm 154-Chem Lab-negative press-16x | 1 | Allowance | 30,000.00 | 30,000.00
15801 | Hvac-Rm 128-Optics Lab-positive pressure | 1 | Allowance | 10,000.00 | 10,000.00
15802 | Hvac-Balance of areas - 5 existing machines | 1 | Allowance | 20,000.00 | 20,000.00
15803 | Install 2 Labconco exhaust fans & systems | 1 | Allowance | 25,000.00 | 25,000.00
15865 | Combo fire & smoke dampers-Rm 154 1-hr | 7 | Each | 650.00 | 4,550.00
15883 | Install HEPA filter units, HEPA units NIC | 6 | Allowance | 800.00 | 4,800.00
15900 | Fire sprinklers-adjust head locations | 1 | Lot | 12,644.00 | 12,644.00
16400 | Electricl-demo safe-off | 1 | Lot | 2,000.00 | 2,000.00
16401 | Electrical-distributed power outlets & data | 1 | Lot | 31,055.35 | 31,055.35
16408 | Electrical-add 2-120-208 panels w/ feeders | 1 | Lot | 2,471.65 | 2,471.65

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Cost of Tenant Improvements (Continued)

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Tenant Improvement-CV-2A | Attachment C | J. S. Shafer & Associates, Inc.
100 Columbia, Suite 100 |  | Schedule of Values
Aliso Viejo, CA 92656 |  | Job No. 2362
blank |  | 08/29/16

CSI | Item Description | Count | Unit | Unit Cost | Item Values
16413 | Emergency power-175 amp transfer switch | 1 | Lot | 2,532.60 | 2,532.60
16414 | Emer power-panel, xfmr,disconnect, feeders | 1 | Allowance | 6,737.55 | 6,737.55
16415 | Install grounding buss in CV-2A IT room | 1 | Lot | 455.00 | 455.00
16416 | Power to 2 new hvac units-H-8 & H-25 | 1 | Lot | 2,863.85 | 2,863.85
16417 | Power to 2 Labconco exhaust hoods & fans | 1 | Lot | 5,747.17 | 5,747.17
16474 | Replace deteriorated seal-tite-roof hvac units | 1 | Lot | 2,876.98 | 2,876.98
16475 | Install power/data/video in conc floor-Rm 130 | 1 | Assembly | 1,593.83 | 1,593.83
16476 | Install power & data in floor box | 1 | Lot | 887.00 | 887.00
16511 | Light fixtures-Exit | 9 | Each | 125.00 | 1,125.00
16512 | Light fixtures-2x4 LED | 105 | Each | 131.00 | 13,755.00
16514 | Install 2x4 LED fixtures on Emer circuit | 23 | Lot | 211.27 | 4,859.21
16515 | Install 2x4 LED fixtures | 98 | Lot | 270.20 | 26,479.60
16600 | Install overhead quad outlets on flex cords | 6 | Allowance | 270.00 | 1,620.00
16650 | Install power to HEPA filter units | 6 | Allowance | 300.00 | 1,800.00
16720 | Fire alarm system-B occupancy | 1 | Lot | 18,983.00 | 18,983.00
16721 | Fire alarm system 1-hr conditions & ducts | 1 | Lot | 9,704.00 | 9,704.00
16723 | Fire alarm system-conduit install | 1 | Allowance | 2,500.00 | 2,500.00
15930 | Title 24 contol zones-lighting only | 1 | Lot | 23,478.85 | 23,478.85
16931 | T-24 power outlets & controls | 1 | Lot | 9,467.35 | 9,467.35
|  |  |  |  | 667,921.07
17100 | Contractors Contingency |  |  | 2.00% | 13,358.42
17200 | Contractors Overhead & Profit |  |  | 8.00% | 54,502.36
17300 | Contractor's Insurance |  |  | 1.50% | 11,036.73
Total Cost Per Agreement and Plans |  |  |  | 746,818.58

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Yellow highlighted area to be put back to its original configuration

At the termination of the lease

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