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<SEC-DOCUMENT>0001181431-10-044443.txt : 20100826
<SEC-HEADER>0001181431-10-044443.hdr.sgml : 20100826
<ACCEPTANCE-DATETIME>20100826171402
ACCESSION NUMBER:		0001181431-10-044443
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100820
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100826
DATE AS OF CHANGE:		20100826

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LRAD Corp
		CENTRAL INDEX KEY:			0000924383
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD AUDIO & VIDEO EQUIPMENT [3651]
		IRS NUMBER:				870361799
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24248
		FILM NUMBER:		101041355

	BUSINESS ADDRESS:	
		STREET 1:		15378 AVENUE OF SCIENCE, SUITE 100
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92128
		BUSINESS PHONE:		858-676-1112

	MAIL ADDRESS:	
		STREET 1:		15378 AVENUE OF SCIENCE, SUITE 100
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN TECHNOLOGY CORP /DE/
		DATE OF NAME CHANGE:	19940602
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rrd285011.htm
<DESCRIPTION>SPIN OFF RECORD DATE AND LEASE
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			Prepared By R.R. Donnelley Financial -- Form 8-K
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				<b>UNITED STATES </b>
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				<b>SECURITIES AND EXCHANGE COMMISSION</b>
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				<b>Washington, D.C. 20549</b>
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				<b>Form 8-K </b>
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				<b>CURRENT REPORT</b>
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				<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b>
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				<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;08/20/2010 </b>
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				<b>LRAD Corporation</b>
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				<b>(Exact name of registrant as specified in its charter)</b>
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				<b>Commission File Number:&nbsp;&nbsp;000-24248</b>
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								<b>Delaware</b>
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							&nbsp;&nbsp;
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								<b>87-0361799</b>
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								<b>(State or other jurisdiction of</b>
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							&nbsp;&nbsp;
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								<b>(IRS Employer</b>
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								<b>incorporation)</b>
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							&nbsp;&nbsp;
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								<b>Identification No.)</b>
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				<b>15378 Avenue of Science, Ste 100,</div><div Align="center">San Diego, California 92128</b>
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				<b>(Address of principal executive offices, including zip code)</b>
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				<b>858-676-1112</b>
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				<b>(Registrant&#146;s telephone number, including area code)</b>
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				<b> </b>
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				<b>(Former name or former address, if changed since last report)</b>
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			<b>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:<BR><BR></b>
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			<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
			[&nbsp;&nbsp;]&nbsp;&nbsp;
			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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				<b>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement</b>
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				On August 20, 2010, LRAD Corporation (the "Company") entered into a first amendment to its sublease agreement with Anacomp, Inc. for its corporate headquarters located at 15378 Avenue of Science, San Diego, California 92128.  The lease amendment reduces the monthly base rent amount commencing on August 1, 2010 from $29,622.50 to $17,773.50. In addition, the amendment extends the term of the sublease by one year. The sublease, originally scheduled to expire on May 31, 2011, will now expire on May 31, 2012. All other terms and conditions remain unchanged. The total leased premises equal approximately 23,698 square feet.
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				<b>Item 8.01.&nbsp;&nbsp;&nbsp;&nbsp;Other Events</b>
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				On August 26, 2010, the Company announced that its Board of Directors had set the stockholder of record and distribution dates in connection with the spin-off of its wholly owned subsidiary, Parametric Sound Corporation.  Stockholders of record of the Company as of 5:00 p.m., California time, on September 10, 2010 will receive on September 27, 2010 a pro rata dividend of one share of Parametric Sound Corporation common stock for every two shares of the Company's common stock owned on the record date.  Fractional shares will be rounded up to the next whole share.<p>The press release is being filed herewith as Exhibit 99.1 and the information contained therein is incorporated herein by reference into Item 8.01 of this Current Report on Form 8-K.
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				<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b>
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				(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed with this report:</div><div align="left" style="text-indent:4%">Exhibit </div><div align="left" style="text-indent:4%">Number&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description</div><div align="left" style="text-indent:4%">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's press release, dated August 26, 2010.</div><div align="left" style="text-indent:4%">99.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First amendment to corporate headquarters sublease
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			<b>SIGNATURES</b>
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			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.
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							LRAD Corporation
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							Date: August 26, 2010
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							By:
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					&nbsp;
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						/s/&nbsp;&nbsp;&nbsp;&nbsp;Katherine H. McDermott</font>
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						Katherine H. McDermott</font>
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						CFO
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			<b>EXHIBIT INDEX</b>
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			&nbsp;
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								<b>Exhibit&nbsp;No.</b>
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								<b>Description</b></font>
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								EX-99.1
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						<font Face="times New Roman" Size="2">&nbsp;&nbsp;</font>
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								Company's press release, dated August 26, 2010</font>
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								EX-99.2
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								First amendment to corporate headquarters sublease</font>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>rrd285011_32763.htm
<DESCRIPTION>COMPANY'S PRESS RELEASE, DATED AUGUST 26, 2010
<TEXT>
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<TITLE>FOR RELEASE UPON APPROVAL</TITLE>
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<BODY VLINK="#ffff00">
<B><P>FOR IMMEDIATE RELEASE&#9;&#9;&#9;&#9;&#9;</P>
<P>&#9;&#9;&#9;</P>
<P>&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;</P>
<FONT FACE="Times" SIZE=4><FONT FACE="Times" SIZE=4><P ALIGN="CENTER">LRAD CORPORATION ANNOUNCES RECORD DATE FOR </P>
<P ALIGN="CENTER">SPIN-OFF OF HSS&reg; BUSINESS IN </P>
<P ALIGN="CENTER">TAX FREE DISTRIBUTION TO STOCKHOLDERS </P>
</B></FONT></FONT><P>&nbsp;</P>
<B><P>SAN DIEGO, CA, August 26, 2010 - LRAD Corporation (NASDAQ: LRAD)</B>, the global leader in acoustic hailing devices (AHDs), announced today that September 10, 2010<I> </I>has been set as the record date to fix the number of shares and recipients of Parametric Sound Corporation (&quot;Parametric Sound&quot;) common stock to be distributed. September 27, 2010 has been set as the share distribution date to complete the spin-off of the HSS&reg; technology business as a separate public company. Both dates are subject to Parametric Sound's Form 10 being declared effective by the Securities and Exchange Commission (SEC). As announced on April 8, 2010, most of LRAD Corporation's HSS related assets will be contributed to Parametric Sound, which intends to finance, develop and introduce a new generation of HSS products.</P>
<FONT SIZE=2><P>&nbsp;</P>
</FONT><P>When the spin-off is completed, stockholders of LRAD Corporation (the &quot;Company&quot;) will own the same number of shares of the Company and receive one share of Parametric Sound as a tax-free dividend for every two shares of the Company they hold as of the record date. LRAD Corporation will continue to build markets for its LRAD&reg; products and other technologies and complete HSS product orders received prior to the spin-off.</P>
<FONT SIZE=2>
</FONT><P>&quot;When Company founder and the inventor of HSS, Elwood G. Norris, approached the board of directors earlier this year regarding spinning off HSS through a tax free distribution, we viewed it as the best opportunity to create shareholder value for a business that has historically contributed significant losses to the Company's operating results and contributed less than 5% to our total business revenues through the fiscal nine months ended June 30, 2010,&quot; remarked Tom Brown, president and CEO of LRAD Corporation. &quot;The engineering team that developed our successful LRAD-X&reg; product line will remain intact and continue to innovate and expand our directed sound technologies and product offerings.&quot;</P>
<FONT SIZE=2>
</FONT><P>&quot;We expect this shareholder approved transaction will improve our financial results and free up additional resources for our LRAD AHD business that has reported three consecutive fiscal years of record revenue growth,&quot; concluded Brown. </P>
<B><FONT SIZE=3><P>About LRAD Corporation</P>
</B><P>LRAD Corporation's Long Range Acoustic Device&reg; (LRAD&reg;) directional sound systems are being used around the world in diverse applications including, fixed and mobile military deployments, maritime security, critical infrastructure and perimeter security, commercial security, border and port security, law enforcement and emergency responder communications, and wildlife preservation and control. For more information about LRAD Corporation and its long-range directional sound systems, please visit the company's web site at <B>www.lradx.com.</B> </P>
</FONT><FONT SIZE=3>
</FONT><B><FONT SIZE=2><P>Forward-looking Statements:</B> Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development as well as our perception of historical trends, current market conditions, current economic data, expected future developments and other factors that we believe are appropriate under the circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements, including but not limited to, the performance of our management team, market acceptance of our directed sound technologies and products, entry of competitors, the possibility our intellectual property protections will n
ot prevent others from marketing products similar to or competitive with our products, potential technical or manufacturing difficulties that could delay product deliveries or increase warranty costs, and other risks identified and discussed in our filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management's expectations as of the date hereof. Future results may differ materially from our current expectations. For more information regarding other potential risks and uncertainties, see the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended September 30, 2009.  LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.</P>
</FONT>
<FONT SIZE=3><P>FOR FURTHER INFORMATION CONTACT:</P>
<P>Robert Putnam </P>
<P>Investor Relations </P>
<P>(858) 676-0519  &#9;</P>
<P>robert@lradx.com</P>
</FONT>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>rrd285011_32769.htm
<DESCRIPTION>FIRST AMENDMENT TO CORPORATE HEADQUARTERS SUBLEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>TENANT EXPANSION AND EXTENSION AMENDMENT</TITLE>
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<BODY>
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">FIRST AMENDMENT TO SUBLEASE</P>
<P ALIGN="CENTER"></P>
</B><P ALIGN="JUSTIFY">THIS FIRST AMENDMENT TO SUBLEASE (the "Amendment") is made and entered into as of July 26, 2010, by and between <B>ANACOMP, INC., an Indiana corporation</B> ("Sublandlord") and <B>LRAD CORPORATION, a Delaware corporation</B> (&quot;Subtenant&quot;).</P>
<P ALIGN="JUSTIFY"></P>
<B><P ALIGN="CENTER">RECITALS</P>
</B><P ALIGN="JUSTIFY"></P><DIR>
<DIR>
<P ALIGN="JUSTIFY">A.<B>&#9;</B>Sublandlord  and Subtenant (formerly known as American Technology Corporation, a Delaware corporation) are parties to that certain sublease dated December 13, 2005, (the "Sublease").  Pursuant to the Sublease, Sublandlord has leased to Subtenant space currently containing approximately 23,698 rentable square feet (the &quot;Original Premises&quot;) described as the building located at 15378 Avenue of Science, San Diego, California (the "Building").</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">B.<B>&#9;</B>The Sublease by its terms shall expire at midnight on May 31, 2011 ("Expiration Date"), and the parties desire to extend the Term of the Sublease, all on the following terms and conditions.</P>
<P ALIGN="JUSTIFY"></P></DIR>
</DIR>
<B><P ALIGN="JUSTIFY">NOW, THEREFORE</B>, in consideration of the above recitals which by this reference are incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Sublandlord and Subtenant agree as follows:</P>
<P ALIGN="JUSTIFY"></P><DIR>
<DIR>
<B><P ALIGN="JUSTIFY">I.&#9;<U>Effective Date.</B></U>  </P>
<P ALIGN="JUSTIFY">The new Term and Rent shall commence (&quot;Effective Date&quot;) on August 1, 2010.  </P>
<P ALIGN="JUSTIFY"></P>
<B><P ALIGN="JUSTIFY">II.&#9;<U>Extension.</B></U>  </P>
<P ALIGN="JUSTIFY">&#9;The Term of the Sublease, as referenced in Section 2 of the Sublease, shall hereby be extended and shall expire at midnight on May 31, 2012 ("Extended Expiration Date&quot;).  </P>
<P ALIGN="JUSTIFY"></P>
<B><P ALIGN="JUSTIFY">III.&#9;<U>Rent.</P>
</B></U><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&#9;Rent, as referenced in Section 10.1 of the Sublease, shall hereby be amended as follows.  </P>
<P ALIGN="JUSTIFY"></P></DIR>
</DIR>
</FONT></FONT>
<P ALIGN="RIGHT"><TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=498 DIR="LTR">
<TR><TD WIDTH="34%" VALIGN="TOP" BGCOLOR="#ffffff">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Months of Term or Period</B></FONT></FONT></TD>
<TD WIDTH="36%" VALIGN="TOP" BGCOLOR="#ffffff">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Monthly Rate Per</P>
<P ALIGN="CENTER">Square Foot</B></FONT></FONT></TD>
<TD WIDTH="30%" VALIGN="TOP" BGCOLOR="#ffffff">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">Monthly Basic Rent</B></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="34%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">8/1/10-5/31/12</FONT></FONT></TD>
<TD WIDTH="36%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">$0.75</FONT></FONT></TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">$17,773.50</FONT></FONT></TD>
</TR>
</TABLE>
</P>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="JUSTIFY"></P><DIR>
<DIR>
<P ALIGN="JUSTIFY">All such Basic Rent shall be payable by Subtenant in accordance with the terms of the Sublease. There shall not be any Tenant Improvements provided by Sublandlord related to this Extension and First Amendment to Sublease, and Subtenant accepts the Premises in their existing condition.</P>
<P ALIGN="JUSTIFY"></P></DIR>
</DIR>
<B><P ALIGN="JUSTIFY">IV.&#9;<U>Brokerage.</P><DIR>
<DIR>
</B></U><P ALIGN="JUSTIFY">Irving Hughes has served in a dual agency capacity representing both Sublandlord and Subtenant, but there shall not be any commission payable by either party to Irving Hughes or any other brokerage firm related to this First Amendment to Sublease.  </P>
<B><P ALIGN="JUSTIFY"></P></DIR>
</DIR>
<P ALIGN="JUSTIFY">IN WITNESS WHEREOF</B>, Sublandlord and Subtenant have duly executed this Amendment as of the day and year first above written.</P>
<P ALIGN="JUSTIFY"></P></FONT></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=631 DIR="LTR">
<TR><TD WIDTH="50%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="JUSTIFY">SUBLANDLORD:</B></FONT></FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<B><FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="JUSTIFY">SUBTENANT:</B></FONT></FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="50%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP"><DIR>
<DIR>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="JUSTIFY">ANACOMP, INC.</P>
<P ALIGN="JUSTIFY"></P></DIR>
</DIR>
<P ALIGN="JUSTIFY">By:&#9;<U>/s/ Howard Dratler</U>______________</P>
<P ALIGN="JUSTIFY">Printed Name:_<U>Howard Dratler</U>__________</P>
<P ALIGN="JUSTIFY">Title:&#9;<U>CEO</U>_________________________</P>
<B><P ALIGN="JUSTIFY"></B></FONT></FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P>LRAD CORPORATION</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">By:&#9;<U>/s/ Thomas R. Brown</U>____________</P>
<P ALIGN="JUSTIFY">Printed Name: <U>Thomas R. Brown</U>_________</P>
<P ALIGN="JUSTIFY">Title:&#9;<U>President/CEO</U>_________________</P>
<P ALIGN="JUSTIFY"></FONT></FONT></TD>
</TR>
</TABLE>
<FONT FACE="Arial" SIZE=2><FONT FACE="Arial" SIZE=2><P ALIGN="CENTER">&nbsp;</P></FONT></FONT></BODY>
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