4
PUERTO RICO INDUSTRIAL DEVELOPMENT COMPANY
▇.▇. ▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇
SUPPLEMENT AND AMENDMENT TO LEASE CONTRACT
NOW COME the PUERTO RICO INDUSTRIAL DEVELOPMENT COMPANY (hereinafter
referred to as the "LANDLORD"), and INTEGRA NEUROSCIENCES P.R., INC.
(hereinafter referred to as the "TENANT") and agree to Supplement and Amend
certain Lease Contract entered into by them on April 11, 2003 (hereinafter
referred to as the "Lease Contract") covering certain landsite and building
identified as Project No. T-0810-0-68 and its extensions, located at ANASCO,
Puerto Rico, in the following aspects:
ONE: Project Number T-0994-0-70, with floor area of 22,445.75 sq. ft.,
located in Anasco, Puerto Rico is hereby included in the Lease Contract as
additional leased premises (the "Additional Leased Premises").
TWO: The TENANT takes possession of the Additional Leased Premises in
their present "as is" condition, and agrees to be responsible for any and all
repairs necessary to the Additional Leased Premises, including the basic
electrical and mechanical systems thereof, upon the expiration or sooner
termination of the lease term, in accordance with the terms and conditions of
the Lease Contract.
In addition to the foregoing, the TENANT agrees to be responsible for
certain special facilities located in the Additional Leased Premises, and to
remove the same upon the request of the LANDLORD upon the expiration or sooner
termination of the lease term, in accordance with the terms and conditions of
the Lease Contract, including the following:
1. Fluorescent lamps throughout the building.
2. Metal Halide exterior lamps.
3. Fire alarm system.
4. Electrical Power System.
5. Air conditioning system throughout the building, including seven
(7) air conditioning units, with ducts and flashing.
6. Water sprinkler system.
THREE: Term - the term of the Lease Contract is not amended hereby.
FOUR: Rent - the rent provided under the Lease Contract is hereby
amended as follows:
Commencing on the first day of the month following the date of delivery
of the Additional Leases Premises to the TENANT, the rent for the Additional
Leased Premises shall be at the rate of $3.25 per square feet during the term of
the Leased Contract, equivalent to $6,079.06 monthly and $72,948.72 annually.
FIVE: Deposit - the TENANT shall deposit with the LANDLORD the amount
of $8,753.85, by Certified or Manager's Check, as a security deposit for the
Additional Leased Premises.
SIX: Employment - The number of employees required under Section SIX of
the Lease Contract is hereby amended to a minimum of sixty (60) production
workers with an annual payroll of $1,200,000.00.
SEVEN: Section SIX of the Lease Contract is hereby amended to provide
that the TENANT agrees to install manufacturing machinery and equipment with the
value of $1,000,000, within eighteen (18) months from the date of commencement
of operations in the Additional Leased Premises.
EIGHT: The Additional Leased Premises shall be used and occupied by
the TENANT exclusively in the manufacture of Medical Devices and Biomaterials
(SIC. NO. 3841).
NINE: On June 7, 2005, the TENANT executed an agreement with Caribe GE
International of Puerto Rico, Inc. in order to share the entranceway and guard
services to the Additional Lease Premises, and the TENANT agrees to be bound by
the terms of the agreement, identified as Exhibit I hereof.
Furthermore, the TENANT agrees to comply with the accords contained in
the letters dated November 23, 2004, May 23, 2005 and July 8, 2005, identified
as Exhibit II hereof.
All of the other terms and conditions of the Lease Contract, to the
extent not inconsistent with this Supplement and Amendment, shall remain in full
force and effect.
This is the sole agreement between the parties hereto with respect to
the Additional Leased Premises and the Lease Contract; and any clause in
conflict with the above that is contained in the Lease Contract is hereby
amended.
IN WITNESS HEREOF, the parties hereby execute this Supplement and
Amendment to the Lease Contract, at San ▇▇▇▇, Puerto Rico, on this 24th day
of October, 2005.
PUERTO RICO INDUSTRIAL DEVELOPMENT COMPANY
SSP #▇▇-▇▇▇▇▇▇▇
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇
----------------------------------------
INTEGRA NEUROSCIENCES P.R., INC.
SSP #▇▇-▇▇▇▇▇▇▇
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇
----------------------------------------