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<SEC-DOCUMENT>0000724910-07-000020.txt : 20071220
<SEC-HEADER>0000724910-07-000020.hdr.sgml : 20071220
<ACCEPTANCE-DATETIME>20071220160630
ACCESSION NUMBER:		0000724910-07-000020
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20071217
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20071220
DATE AS OF CHANGE:		20071220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NVE CORP /NEW/
		CENTRAL INDEX KEY:			0000724910
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				411424202
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12196
		FILM NUMBER:		071319487

	BUSINESS ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344
		BUSINESS PHONE:		9528299217

	MAIL ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREMIS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>lease-07.htm
<DESCRIPTION>CURRENT REPORT ON FORM 8-K/A
<TEXT>
<p align="center"> <font face="Times New Roman, Times, serif" size="5"><b>UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</b></font><b><font face="Times New Roman, Times, serif" size="2"><br>
  Washington, D.C.&nbsp;&nbsp;20549</font></b>
<p align="center"><b><font face="Times New Roman, Times, serif" size="2"> <font size="5">FORM
  8-K/A</font></font></b>
<p align="center"><b><font face="Times New Roman, Times, serif" size="3">(Amendment
  No. 1)</font></b>
<p align="center"><b><font face="Times New Roman, Times, serif" size="3">CURRENT
  REPORT<br>
  </font></b><font face="Times New Roman, Times, serif" size="3"><b>Pursuant to
  Section 13 OR 15(d) of The Securities Exchange Act of 1934</b></font></p>
<p><font face="Times New Roman, Times, serif" size="2"><br>
  Date of Report (Date of earliest event reported)&nbsp;&nbsp;<b><u>December 17, 2007</u></b><br>
  </font></p>
<div align="center"><b><font size="6" face="Arial, Helvetica, sans-serif"><img src="nve-logo.gif" width="276" height="55"><br>
  NVE Corporation</font></b><font face="Times New Roman, Times, serif" size="2"><br>
  (Exact name of registrant as specified in its charter)</font></div>
<font face="Times New Roman, Times, serif" size="2">
<div align="center">
  <p>&nbsp;</p>
</div>
</font>
<div align="center"></div>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="33%">
      <p align="center"><font face="Times New Roman, Times, serif"><b><font size="2" ><u>Minnesota</u></font></b></font></p>
    </td>
    <td width="33%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>000-12196</u>
        </b> </font></div>
    </td>
    <td>
      <p align="center"><b><font size="2" face="Times New Roman"><u>41-1424202</u></font></b></p>
    </td>
  </tr>
  <tr>
    <td>
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(State
        or other jurisdiction of incorporation)</font></p>
    </td>
    <td>
      <div align="center"><font face="Times New Roman, Times, serif" size="2">(Commission File Number) </font></div>
    </td>
    <td>
      <div align="center"><font size="2" face="Times New Roman, Times, serif">(IRS Employer Identification No.)</font></div>
    </td>
  </tr>
</table>
<br>
<br>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="25%"></td>
    <td width="50%">
      <p align="center"><font size="2"><b><u>11409 Valley View Road, Eden Prairie, Minnesota</u></b></font></p>
    </td>
    <td>
      <p align="center"><font size="2"><b><font face="Times New Roman" ><u>55344</u></font></b></font></p>
    </td>
  </tr>
  <tr>
    <td width="25%">
      <p align="center"><font size="2">&nbsp;</font></p>
    </td>
    <td width="50%">
      <p align="center"><font size="2" face="Times New Roman, Times, serif">(Address of principal executive offices)</font></p>
    </td>
    <td>
      <p align="center"><font size="2">(Zip Code)</font></p>
    </td>
  </tr>
</table>
<br>
<font size="2" face="Times New Roman, Times, serif"> Registrant&#146;s telephone
number, including area code <b><u>(952) 829-9217</u></b><br>
</font>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>
  </font><font face="Times New Roman, Times, serif" size="2">(Former name or former
  address, if changed since last report.)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the filing
  obligation of the registrant under any of the following provisions (see General
  Instruction A.2. below):</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Written
  communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Soliciting
  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p><font face="Times New Roman, Times, serif" size="2">[&nbsp;&nbsp;] Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<hr> <br clear="all" style="page-break-before:always;">
<p>
<font face="Times New Roman, Times, serif" size="2"><b>Explanatory Note<br>
</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No. 1 to Form 8-K is being filed
to disclose an amendment to the lease agreement on the building housing our principal
executive offices and manufacturing facility.<br>
<br>
<br>
<b>Item 1.01 Entry into a Material Definitive Agreement</b><br>
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 17, 2007
we executed a third amendment to the lease agreement between us and Carlson Real
Estate Company covering the building housing our principal executive offices and
manufacturing facility. The building consists of 21,362 square feet of offices,
laboratories, and production areas. Our lease would have expired December 31,
2008 without the third amendment. The third amendment extends the lease for an
additional term of seven years, expiring December 31, 2015, with a onetime right
to cancel the lease at our option on December 31, 2012. The amendment provides
for annual base rent of $138,853 in 2009, increasing 2.5% each subsequent year
during the extended term. Additionally, the landlord agreed to provide a tenant
improvement allowance of $213,620.
<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The lease amendment is filed as Exhibit 10.6
  to this Current Report on Form 8-K/A.
</font>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">2</font>
<hr> <br clear="all" style="page-break-before:always;"><p align="center"><font face="Times New Roman, Times, serif" size="2"> <b>SIGNATURE</b></font></p>
<font face="Times New Roman, Times, serif" size="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant
  has duly caused this report to be signed on its behalf by the undersigned hereunto
  duly authorized.</font><p>
<table border="0" cellspacing="0" cellpadding="0" width="102%">
  <tr>
    <td width="25%">
      <p><font face="Times New Roman, Times, serif" size="2">Date&nbsp;&nbsp;<b><u>December
        20, 2007</u></b></font>
    </td>
    <td>
      <p><font face="Times New Roman, Times, serif" size="2"><b><u>NVE CORPORATION</u></b></font>
    </td>
  </tr>
  <tr>
    <td>
    </td>
    <td>
      <p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</font></p>
    </td>
  </tr>
  <tr>
    <td></td>
    <td><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td></td>
    <td>
      <font face="Times New Roman, Times, serif" size="2"><u>/s/
        CURT A. REYNDERS&nbsp;</u></font>
    </td>
  </tr>
  <tr>
    <td></td>
    <td> <font face="Times New Roman, Times, serif" size="2"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Curt
      A. Reynders</font></td>
  </tr>
  <tr>
    <td></td>
    <td> <font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;Chief
      Financial Officer</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2">3</font>
<hr> <br clear="all" style="page-break-before:always;"><p align="center"><font face="Times New Roman, Times, serif" size="2"><b>INDEX
  TO EXHIBITS</b></font></p>
<p><font face="Times New Roman, Times, serif" size="2"><b>Item 9.01 Financial
  Statements and Exhibits</b></font></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="8%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Exhibit
        #</u></b></font></div>
    </td>
    <td></td>
    <td width="88%">
      <div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Description</u></b></font></div>
    </td>
  </tr>
  <tr>
    <td width="8%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">10.1</font></div>
    </td>
    <td></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">Lease
      dated October 1, 1998 between the company and Glenborough Properties, L.P.
      (incorporated by reference to our Quarterly Report on Form 10-QSB for the
      period ended September 30, 2002).</font></td>
  </tr>
  <tr>
    <td width="8%" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td></td>
    <td></td>
  </tr>
  <tr>
    <td width="8%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">10.2</font></div>
    </td>
    <td></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">First
      amendment to lease between the company and Glenborough Properties, LP dated
      September 18, 2002 (incorporated by reference to our Quarterly Report on
      Form 10-QSB for the period ended September 30, 2002).</font></td>
  </tr>
  <tr>
    <td width="8%" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td></td>
    <td></td>
  </tr>
  <tr>
    <td width="8%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">10.3</font></div>
    </td>
    <td></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">Second
      amendment to lease between the company and Glenborough Properties, LP dated
      December 1, 2003 (incorporated by reference to our Quarterly Report on Form
      10-QSB for the period ended December 31, 2003).</font></td>
  </tr>
  <tr>
    <td width="8%" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td></td>
    <td></td>
  </tr>
  <tr>
    <td width="8%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">10.4</font></div>
    </td>
    <td></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">Notification
      from Glenborough Properties, LP relating to change in building ownership
      (incorporated by reference to our Current Report on Form 8-K filed October
      11, 2005).</font></td>
  </tr>
  <tr>
    <td width="8%" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td></td>
    <td></td>
  </tr>
  <tr>
    <td width="8%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">10.5</font></div>
    </td>
    <td></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">Notification
      from Carlson Real Estate Company, Inc. relating to change in building ownership
      (incorporated by reference to our Current Report on Form 8-K filed October
      11, 2005).</font></td>
  </tr>
  <tr>
    <td width="8%" valign="top"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    <td></td>
    <td></td>
  </tr>
  <tr>
    <td width="8%" valign="top">
      <div align="center"><font face="Times New Roman, Times, serif" size="2">10.6</font></div>
    </td>
    <td></td>
    <td valign="top"> <font face="Times New Roman, Times, serif" size="2">Third
      amendment to lease between the company and Carlson Real Estate Company,
      Inc. dated December 17, 2007 (filed with this Current Report on Form 8-K/A).</font></td>
  </tr>
</table>
<font face="Times New Roman, Times, serif" size="2"><br>
</font>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><br>
  4</font>
<hr>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>2
<FILENAME>lease-3.htm
<DESCRIPTION>THIRD AMENDMENT TO LEASE
<TEXT>
 <p>&nbsp;
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b>THIRD
  AMENDMENT TO LEASE<br>
  &nbsp; </b></font><br>
</div>
<table border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td colspan="2" valign="top">
      <div align="left"><font face="Times New Roman, Times, serif" size="2"><b>DATE:</b></font></div>
    </td>
    <td><font face="Times New Roman, Times, serif" size="2">December 17, 2007<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td colspan="2" valign="top">
      <div align="left"><font face="Times New Roman, Times, serif" size="2"><b>PARTIES:</b></font></div>
    </td>
    <td><font face="Times New Roman, Times, serif" size="2">Carlson Real Estate
      Company, a Minnesota Limited Partnership<br>
      &quot;Landlord&quot;<br>
      &nbsp;<br>
      </font><font face="Times New Roman, Times, serif" size="2">NVE Corporation,
      a Minnesota corporation<br>
      &quot;Tenant&quot;<br>
      &nbsp; &nbsp; </font></td>
  </tr>
  <tr>
    <td colspan="3" valign="top"><font face="Times New Roman, Times, serif" size="2"><b>RECITALS:<br>
      &nbsp; </b></font></td>
  </tr>
  <tr>
    <td valign="top" width="40">
      <div align="left"><font face="Times New Roman, Times, serif" size="2"></font></div>
    </td>
    <td valign="top" width="40"><font face="Times New Roman, Times, serif" size="2">A.</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">By Lease between Glenborough
      Properties, L.P., a California limited partnership, (&quot;GP&quot;) and
      Nonvolatile Electronics, Inc. (&quot;NEI&quot;), a Minnesota corporation,
      dated October 1, 1998, and by First Amendment to Lease dated September 18,
      2002, and Second Amendment to Lease dated December 1, 2003, by and between
      Glenborough Fund IX, LLC, a Delaware limited liability company, (&quot;Glenborough&quot;)
      as successor to GP and Tenant as successor to NEI (collectively, the &quot;Lease&quot;)
      relating to approximately 21,362 square feet of space (the &quot;Premises&quot;)
      located in Bryant Lake Business Center, Eden Prairie, Minnesota.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top">
      <div align="center"><b><font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif"><font size="2"></font></font></font></b></div>
    </td>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2">B.</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">Landlord succeeded
      to the interest of Glenborough in the Lease and in Premises.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top">
      <div align="center"><b><font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif"><font size="2"></font></font></font></b></div>
    </td>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2">C.</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">The parties have reached
      an agreement with respect to the amendment of the Lease which they wish
      to reduce to writing.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td colspan="3" valign="top"><b><font face="Times New Roman, Times, serif" size="2">AGREEMENT:<br>
      &nbsp; </font></b></td>
  </tr>
  <tr>
    <td valign="top">
      <div align="center"><font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif"><font size="2"></font></font></font></div>
    </td>
    <td colspan="2" valign="top"><font face="Times New Roman, Times, serif" size="2">In
      consideration of the following terms and conditions, the parties agree as
      follows: <br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2"></font></td>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2">1.</font></td>
    <td><font face="Times New Roman, Times, serif" size="2"><b><i>Recitals.</i></b>
      The foregoing recitals are true and are incorporated herein.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2"></font></td>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2">2.</font></td>
    <td><font face="Times New Roman, Times, serif" size="2"><b><i>Effective Date.</i></b>
      The &quot;Effective Date&quot; of this Third Amendment to Lease shall be
      January 1, 2009.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2"></font></td>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2">3.</font></td>
    <td><font face="Times New Roman, Times, serif" size="2"><b><i>Extension of
      Lease Term.</i></b> The term of the Lease is hereby extended, pursuant to
      all of the terms and conditions of the Lease as amended, for an additional
      period of seven (7) years, commencing January 1, 2009, and ending December
      31, 2015 (the &quot;Extended Term&quot;).<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2"></font></td>
    <td valign="top"><font face="Times New Roman, Times, serif" size="2">4.</font></td>
    <td><font face="Times New Roman, Times, serif" size="2"><b><i>Increase in
      Annual Base Rent.</i></b> As of the Effective Date, Tenant's Annual Base
      Rent for the Premises shall be as follows:<br>
      &nbsp;</font></td>
  </tr>
</table>
<table width="80%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="20%"><u><font size="2" face="Times New Roman, Times, serif">Months</font></u></td>
    <td width="20%"><u><font size="2" face="Times New Roman, Times, serif">Per
      Square Foot</font></u></td>
    <td width="20%"><u><font size="2" face="Times New Roman, Times, serif">Monthly
      Installment</font></u></td>
    <td width="20%"><u><font size="2" face="Times New Roman, Times, serif">Annual
      Base Rent</font></u></td>
  </tr>
  <tr>
    <td><font size="2" face="Times New Roman, Times, serif">01/01/09-12/31/09</font></td>
    <td><font size="2" face="Times New Roman, Times, serif">$6.50</font></td>
    <td><font size="2" face="Times New Roman, Times, serif">$11,571.08</font></td>
    <td><font size="2" face="Times New Roman, Times, serif">$138,853.00</font></td>
  </tr>
</table>
<br>
<hr> <br clear="all" style="page-break-before:always;">
<table width="80%" border="0" cellspacing="00" cellpadding="0">
  <tr>
    <td><font size="2" face="Times New Roman, Times, serif">01/01/10-12/31/10</font></td>
    <td><font size="2" face="Times New Roman, Times, serif">$6.66</font></td>
    <td><font size="2" face="Times New Roman, Times, serif">$11,855.91</font></td>
    <td><font size="2" face="Times New Roman, Times, serif">$142,270.92</font></td>
  </tr>
  <tr>
    <td width="20%"><font face="Times New Roman, Times, serif" size="2">01/01/11-12/31/11</font></td>
    <td width="20%"><font face="Times New Roman, Times, serif" size="2">$6.83</font></td>
    <td width="20%"><font face="Times New Roman, Times, serif" size="2">$12,158.54</font></td>
    <td width="20%"><font face="Times New Roman, Times, serif" size="2">$145,902.46</font></td>
  </tr>
  <tr>
    <td><font face="Times New Roman, Times, serif" size="2">01/01/12-12/31/12</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$7.00</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$12,461.17</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$149,534.00</font></td>
  </tr>
  <tr>
    <td><font face="Times New Roman, Times, serif" size="2">01/01/13-12/31/13</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$7.17</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$12,763.80</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$153,165.54</font></td>
  </tr>
  <tr>
    <td><font face="Times New Roman, Times, serif" size="2">01/01/14-12/31/14</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$7.35</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$13,084.22</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$157,010.70</font></td>
  </tr>
  <tr>
    <td><font face="Times New Roman, Times, serif" size="2">01/01/15-12/31/15</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$7.54</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$13,422.46</font></td>
    <td><font face="Times New Roman, Times, serif" size="2">$161,069.48</font></td>
  </tr>
</table>
<br>
<table border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="40"><font size="2" face="Times New Roman, Times, serif"></font></td>
    <td valign="top" width="40"><font size="2" face="Times New Roman, Times, serif">5.</font></td>
    <td><font size="2" face="Times New Roman, Times, serif"> <i><b>Landlord Improvement
      Allowance.</b></i> Landlord shall pay Tenant a maximum of Two Hundred Thirteen
      Thousand Six Hundred twenty and 00/100 ($213,620.00) Dollars for Tenant's
      improvements to the Premises. Said amount shall be payable from Landlord
      to Tenant at any time after full execution of this amendment provided the
      following conditions have been fully satisfied:<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">A.</font></td>
    <td colspan="2"><font size="2" face="Times New Roman, Times, serif"> Landlord
      has approved all improvements. Landlord's consent shall not be unreasonably
      withheld. Landlord acknowledges Improvement Allowance will primarily include
      expansion of and improvements to Tenant's clean room and related mechanical
      equipment.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">B.</font></td>
    <td colspan="2"><font size="2" face="Times New Roman, Times, serif">All necessary
      permits and approvals have been obtained from appropriate government authorities.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">C.</font></td>
    <td colspan="2"> <font size="2" face="Times New Roman, Times, serif">Tenant
      is not in default under the terms of the Lease.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">D.</font></td>
    <td colspan="2"><font size="2" face="Times New Roman, Times, serif">Tenant
      shall have fully completed all of Tenant's improvements and fully paid all
      bills for labor, materials and services prior to December 31, 2010 and shall
      provide Landlord with copies of all paid bills together with appropriate
      lien waivers and any other documentation requested by Landlord.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td><font size="2" face="Times New Roman, Times, serif"></font></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">6.</font></td>
    <td><font size="2" face="Times New Roman, Times, serif"><b><i>Termination
      Right.</i></b> Provided Tenant is not then in default of this Lease, Tenant
      shall have the onetime option to cancel the Lease on December 31, 2012 (&quot;Termination
      Right&quot;) by providing Landlord written notice on or before April 1,
      2012 (the &quot;Termination Notice&quot;). Additionally, Tenant shall pay
      Landlord a termination fee equal to the sum of the unamortized balance of
      leasing commissions and Tenant Improvement costs, using an interest factor
      of ten percent (10%) per annum plus four (4) months of Annual Base Rent
      (the &quot;Termination Fee&quot;).<br>
      &nbsp;<br>
      The Termination Fee shall be paid by Tenant simultaneously with delivery
      of the Termination Notice to Landlord. If the Termination Fee is not paid
      simultaneously with the Termination Notice, the Termination Right shall
      not be effective and the Lease shall remain in full force and effect.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td><font size="2" face="Times New Roman, Times, serif"></font></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">7.</font></td>
    <td><font size="2" face="Times New Roman, Times, serif"><b><i>Counterparts/Facsimile
      Signatures.</i></b> This Third Amendment to Lease may be signed in counterparts,
      and all counterpart signature pages when taken together shall constitute
      one and the same instrument. This Third Amendment to Lease may be executed
      and delivered by facsimile signature for execution on the part of one or
      more parties hereto and upon one party <br>
      &nbsp; </font></td>
  </tr>
</table>
<br>
<p align="center"><font face="Times New Roman, Times, serif" size="2">2</font>
<hr><br clear="all" style="page-break-before:always;">
<table border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="40">&nbsp;</td>
    <td valign="top" width="40">&nbsp;</td>
    <td><font size="2" face="Times New Roman, Times, serif">sending via facsimile
      to another party a facsimile copy of a signature page showing the sending
      party's execution or signature, the sending party shall be bound by such
      signature or execution.<br>
      &nbsp;</font></td>
  </tr>
  <tr>
    <td width="40"><font size="2" face="Times New Roman, Times, serif"></font></td>
    <td valign="top" width="40"><font size="2" face="Times New Roman, Times, serif">8</font></td>
    <td> <font size="2" face="Times New Roman, Times, serif"><i><b>Interpretation
      of Third Amendment to Lease.</b></i> In the event of any conflict between
      the Lease and this Third Amendment to Lease, the terms of this Third Amendment
      to Lease shall control. Except as expressly amended, supplemented or modified
      by this Third Amendment to Lease, the Lease shall continue in full force
      and effect. All capitalized terms contained in this Third Amendment to Lease,
      unless specifically defined herein, shall have the meaning ascribed to them
      in the Lease.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td><font size="2" face="Times New Roman, Times, serif"></font></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">9.</font></td>
    <td> <font size="2" face="Times New Roman, Times, serif"><i><b>Binding Effect.</b></i>
      This Third Amendment to Lease shall bind and inure to the benefit of the
      parties hereto and their respective heirs, successors and assigns.<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td colspan="3">
      <p style="text-indent: 40px;"><font size="2" face="Times New Roman, Times, serif">IN
        WITNESS WHEREOF, Landlord and Tenant have caused this Third Amendment
        to Lease to be executed as of the day and year first above written.<br>
        &nbsp;</font></p>
    </td>
  </tr>
</table>

<table border="0" cellspacing="0" cellpadding="0" width="100%">
  <tr>
    <td width="50%"></td>
    <td colspan="2"><font size="2" face="Times New Roman, Times, serif"><b>CARLSON
      REAL ESTATE COMPANY,<br>
      A MINNESOTA LIMITED PARTNERSHIP</b><br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td></td>
    <td colspan="2"><font size="2" face="Times New Roman, Times, serif">By Carlson
      Real Estate Company, Inc.<br>
      Its Agent<br>&nbsp;<br>&nbsp;</font></td>
  </tr>
  <tr>
    <td></td>
    <td valign="top" width="1%"><font size="2" face="Times New Roman, Times, serif">By&nbsp;</font></td>
    <td><font size="2" face="Times New Roman, Times, serif"><u>/s/ MARK G. HERREID</u><br>
      Mark G. Herreid<br>
      Its Senior Vice President and CFO<br>
      &nbsp; </font></td>
  </tr>
  <tr>
    <td></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">By</font></td>
    <td> <font size="2" face="Times New Roman, Times, serif"><u>/s/ MATT VAN SLOOTEN</u><br>
      Matt Van Slooten<br>
      Its President<br>&nbsp;<br>&nbsp;</font></td>
  </tr>
  <tr>
    <td></td>
    <td colspan="2"><b><font size="2" face="Times New Roman, Times, serif">NVE
      CORPORATION, A MINNESOTA<br>
      CORPORATION<br>&nbsp;<br>&nbsp;</font></b></td>
  </tr>
  <tr>
    <td></td>
    <td valign="top"><font size="2" face="Times New Roman, Times, serif">By</font></td>
    <td> <font size="2" face="Times New Roman, Times, serif"><u>/s/ DANIEL BAKER</u><br>
      Daniel Baker<br>
      Its President and CEO<br>&nbsp;<br>&nbsp;</font></td>
  </tr>
</table>
<p align="center"><font face="Times New Roman, Times, serif" size="2"><br>
  3</font>
<hr>
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