Exhibit 10.1


 


ADDENDUM I TO THE LEASE AGREEMENT


 


This agreement (hereinafter “Addendum I to the Lease Agreement” or “Addendum
I”) is entered into this 3rd day of February, 2010, by and between 30 West 46
LLC d/b/a Goldhaber Las Colinas, LLC, a New York limited liability
corporation, (“Landlord”),
successor-in-interest to1440 Corporate, L.P., a Texas limited partnership,  and EFJ, Inc. n/k/a EF Johnson Technologies, Inc.,
a Delaware corporation with its principal place of business at 1440 Corporate
Drive, Irving, Texas  75038 (“Tenant”).  Landlord and Tenant may be collectively
referred to as the “Parties”.


 


WHEREAS, Tenant and the Landlord’s predecessor-in-interest entered into a
certain Lease Agreement (the “Lease”) dated March 31, 2006 whereby
Landlord agreed to lease to Tenant a certain building whose street address is
1440 Corporate Drive, Irving, Texas (the “Building”) and the parcel of land
upon which the Building is located (the “Land”).  The Building and the Land are collectively
referred to as the “Premises”.


 


WHEREAS, the initial term of the Lease is 120 months, commencing on March 31,
2006 and ending on March 31, 2016 (the “Term”) pursuant to Article 4
of the Lease;


 


WHEREAS, the Parties have agreed to modify and extend the Term for an
additional three-year period commencing on March 31, 2016 and ending on March 31,
2019 (the “Extension Term”) with monthly rental payments for the Extension Term
as set forth below;


 


WHEREAS, in consideration of Tenant agreeing to the Extension Term at the
agreed-upon terms, Landlord agrees to reduce twelve (12) monthly rental
payments for the Premises due and owing from Tenant for the period of time
defined below and shall agree to release the escrow currently being held by the
Unum Group (the “Unum”) to Tenant;


 


WHEREAS, Landlord and Tenant agree to modify the Lease accordingly.


 


W I T N E S S E T H:


 


1.     Article 4 is
hereby modified to read in its entirety as follows:


 


Term.   The term of
this Lease is 156 months, commencing on March 31, 2006 (the “Commencement
Date”) and ending at 5:00 p.m. on March 31, 2019.


 


2.     Article 6 is
hereby modified to include the following provision:  The Basic Rent for twelve (12) monthly
payments commencing May 2009 and ending April 2010 shall be reduced
by the amount of Six Thousand and NO/100 Dollars ($6,000.00) per month;
therefore, the monthly payments for such period shall be Thirty-Five Thousand
Six Hundred Sixty-Six and NO/100 Dollars ($35,666.66).  The Basic Rent shall increase to Forty-One
Thousand Six Hundred Sixty-Six and 66/100 Dollars ($41,666.66) for the period
commencing May 2010 and ending March 2016.  For the Extension Term, the Basic Rent shall
be the  current market rate determined by
mutual agreement of the parties.  Such
agreement shall be in writing and based on the research and conclusions of two
independent real estate professionals (one 


 

















 


named by each of the parties) who have extensive and proven knowledge and
expertise in the Dallas-Fort Worth commercial real estate market.  In the event the aforementioned real estate
professionals cannot agree on the current market rate, they shall jointly name
an independent mediator who has extensive and proven knowledge and expertise in
the Dallas-Fort Worth commercial real estate market to resolve the dispute.  The arbitrator’s decision shall be final and
binding upon the parties.  Each party
shall bear the expenses of its respectively named real estate professional and
any expenses incurred for the mediator shall be born equally by the parties.


 


3.     Landlord hereby
agrees to release to Tenant the escrow in the amount of Twenty-Eight Thousand
and NO/100 Dollars ($28,000.00) currently being held by Unum and shall execute
all required paperwork to effect such release. 
It shall be the Tenant’s responsibility to obtain the estoppel certificate
from the Las Colinas Association 
required to release the escrow.


 


4.     In the event of inconsistencies
between Addendum I to the Lease Agreement and the Lease, Addendum I shall take
precedence.


 


5.     All other terms and conditions
of the Lease remain in full force and effect.


 


IN WITNESS WHEREOF, the
undersigned parties have caused this Addendum I to the Lease Agreement to be
executed as of the day and year first above written.


 


	
  TENANT:

  	
   

  
	
   

  	
   

  
	
  EFJ, Inc. n/k/a EF
  Johnson Technologies, Inc.

  	
   

  
	
   

  	
   

  
	
  Name: 

  	
  /s/ Michael E. Jalbert

  	
   

  
	
   

  	
   

  	
   

  
	
  Title: 

  	
  Chairman & CEO

  	
   

  
	
   

  	
   

  	
   

  
	
  Date: 

  	
  1-25-10

  	
   

  
	
   

  	
   

  	
   

  
	
  LANDLORD:

  	
   

  
	
   

  	
   

  
	
  30
  West 46, LLC d/b/a Goldhaber Las Colinas, LLC

  	
   

  
	
   

  	
   

  	
   

  
	
  Name: 

  	
  /s/ Sanford Goldhaber

  	
   

  
	
   

  	
   

  	
   

  
	
  Title: 

  	
  Managing Member

  	
   

  
	
   

  	
   

  	
   

  
	
  Date: 

  	
  2/3/10

  	
   

  



 


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