Exhibit 10.15
 
 

 [flagship_logo.jpg]   [altair_logo.jpg] 

 
ADDENDUM
TO CLIENT LEASE
[RENT SUBSIDY]
 
 
    THIS LEASE, is made and entered into this 1st Day of February, 2007, by and
between FLAGSHIP ENTERPRISE CENTER, INC., an Indiana not-for-profit corporation
Altairnano Technologies, Inc., a Nevada Corporation, and Tenant an Indiana
Limited Liability Corporation (hereinafter called "Tenant").
 
Witnesseth That:
 
Article I.
Leased Premises.
 
    Section 1.01. Lease and Description of Premises. Landlord, for and in
consideration of the rent, covenants, agreements and conditions stated herein,
does hereby lease to Tenant and Tenant does hereby lease from Landlord the
following described premises (hereinafter referred to as the "Leased Premises")
situated in the Flagship Enterprise Center Building located at 2701 Enterprise
Drive, Flagship Business Park, Anderson, Indiana 46013 (hereinafter referred to
as "Building") and including all that certain space, which is on the second
floor of the Flagship Enterprise Center Building which is designated Suite #111
consisting of 440 square feet of space as shown in Exhibit "A." Because of the
special nature of Landlord's building, Landlord has the option, in its sole
discretion, to require Tenant to move to comparable space in the Building during
the term of this Lease. Tenant may cancel with 30 day notice.
 
 

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[suite111_floorplan.jpg]
 

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EXHIBIT "B"
 
RENT SCHEDULE
 
Subsidized Rent /  20% Subsidy
 

 
1st 12
months
2nd 12
months
3rd 12
months
4th 12
months
5th 12
months
Stipulated Fair
Market Rent
$ 16.00
$17.00
$ 18.00
$ 19.00
$ 20.00
           
20% Rent Subsidy*
$ 3.20
$ 3.40
$ 3.60
N/A
N/A
           
Monthly Rent*
$ 12.80
$ 13.60
$ 14.40
$ 19.00
$ 20.00
           

 
Rent Calculation
 
During the first 12 months of this Lease, Tenant shall pay to Landlord, with
respect to each calendar year or fractional calendar year, as the case may be,
total rental payments in the monthly sum of Five Hundred Eighty Seven Dollars ($
587.00), being the sum of: (a) Subsidized Rent of Four Hundred Seventy Dollars
($ 470.00) [being the product of $ 12.80, the subsidized annual rent per square
foot, and 440square feet, the area of the Leased Premises, divided by 12
months]; and (b) common area monthly rent of One Hundred Seventeen Dollars ($
117.00), representing a surcharge of twenty-five percent (25%) of the basic
monthly rent to cover the Landlord's cost of maintaining and improving the
common areas within the building.
 
During subsequent 12 Month periods of this Lease, by similar calculation, Tenant
shall pay to Landlord, with respect to each calendar year or fractional calendar
year, as the case may be, total rental payments as follows:
 
2nd 12 Months:
$ 623.00 / Month
3rd 12 Months:
$ 660.00 / Month
4th 12 Months
$ 871.00 / Month
5th 12 Months
$ 917.00 / Month

 

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IN WITNESS WHEREOF, the said parties have hereunto set their hands and seals
this 1st, day of February, 2007.
 
 
Altairnano Technologies, Inc.
 
 
Flagship Enterprise Center
LESSEE
 
LESSOR
           
 
 
BY: [dickerson_sig.jpg]
 
BY: [patterson_sig2.jpg]
Chief Financial officer
 
Arthur L. Patterson, Executive Director