Exhibit 10.08



 Exhibit 10.08 
 CERTAIN PORTIONS 
 HEREOF DENOTED WITH “[***]” 
 HAVE BEEN OMITTED 
 PURSUANT TO A
REQUEST 
 FOR CONFIDENTIAL TREATMENT 
 AND HAVE BEEN FILED 
 SEPARATELY WITH THE 
 COMMISSION 
 FIRST AMENDMENT TO LEASE 
 THIS FIRST AMENDMENT TO LEASE (“First Amendment”) is made this 23rd day of February, 2006, by and between THE REALTY ASSOCIATES FUND
V, L.P., a Delaware limited partnership (“Landlord”) and UNDER ARMOUR, INC., a Maryland corporation, f/k/a K.P. Sports, Inc. (“Tenant”). 
 W I T N E S S E T H: 
 WHEREAS, Landlord and Tenant entered into that certain Standard
Industrial Lease dated December 22, 2003, together with that certain Addendum attached thereto and made a part thereof (the “Addendum”) (collectively, the “Original Lease”), as amended by that certain letter agreement dated
September 22, 2005 (the “Letter Agreement”) (the Original Lease and the Letter Agreement are collectively referred to herein as the “Lease”) pursuant to which Tenant leased that certain premises in the building located at
1010 Swan Creek Drive, Glen Burnie, Maryland (the “Building”), said premises containing Two Hundred Sixty-Four Thousand Six Hundred Seventy-Six (264,676) rentable square feet (the “Original Premises”); 
 WHEREAS, pursuant to the Lease, Tenant’s obligations with respect to the Original Premises have been scheduled to increase incrementally based
on the portion of the Original Premises occupied by Tenant; 
 WHEREAS, Tenant has exercised its option to expand the square footage of
the Original Premise pursuant to Paragraph 9 of the Addendum on the terms and conditions set forth herein; and 
 WHEREAS, Landlord and
Tenant desire to amend the Lease to (i) accelerate the date by which Tenant’s obligations with respect to the Original Premises increase, (ii) increase the square footage of the Original Premises, (iii) extend the Term of the
Lease, and (iv) amend certain other terms and conditions of the Lease as herein provided. 
 NOW, THEREFORE, in consideration of
the premises and mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree to the following: 
 1. Recitals. The recitals set forth above are incorporated herein by this reference with the same force and effect as if fully set forth
hereinafter. 
 2. Capitalized Terms. Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in
the Lease. From and after the date hereof, the Original Lease, the Letter Agreement and this First Amendment shall be known collectively as the “Lease”. 
  

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 3. Effective Date. The Effective Date shall be the date on which this First Amendment is
executed by Landlord and Tenant, whichever signs last. 
 4. Premises. 
 a. Notwithstanding anything to the contrary contained in the Lease, as of the Effective Date the Original Premises shall be increased by Ninety-Four
Thousand Six Hundred (94,600) rentable square feet of space in the Building as shown on the floor plan attached hereto as Exhibit A-2 (the “Expansion Premises”) to a total of Three Hundred Fifty-Nine Thousand Two Hundred
Seventy-Six (359,276) rentable square feet. 
 b. As of the Effective Date, Section 1.5 of the Original Lease shall be deleted in
its entirety and the following Section 1.5 substituted in lieu thereof: 
 “1.5. Approximate Leasable Area of
Premises: 359,276 rentable square feet consisting of the “Original Premises” containing 264,676 rentable square feet and the “ Expansion Premises” containing 94,600 rentable square feet.” 
 c. From and after the Effective Date, except as otherwise provided herein, all references in the Lease to the Premises shall refer collectively to the
Original Premises and the Expansion Premises. 
 5. Term. Notwithstanding anything to the contrary contained in the Lease, as of
the Effective Date the Term of the Lease shall be extended for a period of six (6) months, and, accordingly, shall now expire as of September 30, 2009 (the “Extended Term”), unless sooner terminated pursuant to the terms of the
Lease or hereof. The Term of the Lease with respect to the Expansion Premises shall be coterminous with the Term of the Lease with respect to the Original Premises. 
 6. Rent. As of the Effective Date, Paragraph 3 of the Addendum shall be deleted in its entirety and the following substituted in lieu thereof: 
  

							
	 Lease Period
	  	 Rate Per Square
 Foot/Square
 Footage
Used
	  	Annual Base Rent	  	Monthly Base Rent
	 	  	 	  	(annualized amount)	  	 
	 Effective Date – 06/30/06
	  	$[***]/[***]	  	$[***]	  	$[***]
				
	 07/01/06 – 09/30/06
	  	$[***]/[***]	  	$[***]	  	$[***]
				
	 10/01/06 – 12/31/06
	  	$[***]/[***]	  	$[***]	  	$[***]
				
	 01/01/07 – 03/31/07
	  	$[***]/[***]	  	$[***]	  	$[***]
				
	 04/01/07 – 03/31/08
	  	$[***]/[***]	  	$[***]	  	$[***]
				
	 04/01/08 – 03/31/09
	  	$[***]/[***]	  	$[***]	  	$[***]
				
	 04/01/09 – 09/30/09
	  	$[***]/[***]	  	$[***]	  	$[***]

 The amounts set forth herein as Tenant’s Base Rent are subject to adjustment in the event
Landlord reasonably determines that Tenant is occupying more of the Premises than the square footage referenced in the chart hereinabove during the applicable period. In the event any of the foregoing events shall occur, Base Rent shall be adjusted
by multiplying the amount of square feet being utilized by Tenant in excess of the square footage referenced in the chart hereinabove 

  

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during the applicable period by the Rate per Square Foot referenced for such period. 
 7. Tenant’s Percentage Share. As of the Effective Date, Section 1.12 of the Original Lease and Paragraph 4 of the Addendum shall
be deleted in their entireties and the following Section 1.12 substituted in lieu thereof: 
 “1.12 Tenant’s
Share. Tenant’s Percentage Share shall be adjusted during the Term of the Lease according to the following schedule: 
  

			
	 Lease Period
	  	 Tenant’s Percentage Share*

	 Effective Date – 06/30/06
	  	[***]% (based on 244,745 sq.ft.)
	 07/01/06 – 09/30/06
	  	[***]% (based on 264,676 sq.ft.)
	 10/01/06 – 12/31/06
	  	[***]% (based on 289,676 sq.ft.)
	 01/01/07 – 09/30/09
	  	[***]% (based on 359,276 sq.ft.)



	*	The amounts set forth herein as Tenant’s Percentage Share are subject to adjustment in the event Landlord reasonably determines that Tenant is occupying more of the Premises
than the square footage referenced in the chart hereinabove during the applicable lease period for the operation of Tenant’s business, including the storage of product. 

 8. Utilities. As of the Effective Date, the last sentence of Section 8.1 of the Original Lease shall be deleted in its entirety and the
following substituted in lieu thereof: 
 “Notwithstanding anything to the contrary in the Lease, in the event any
utilities and services are not separately metered, Tenant shall pay Tenant’s Percentage Share (based on [***]%) of all of the costs incurred for the utilities and services referenced in Section 8.1 of the Original Lease with respect to the
Premises.” 
 9. Tenant Improvements. 
 a. Tenant acknowledges that Landlord has met its obligations to construct tenant improvements with respect to the Original Premises pursuant to Paragraph 1 of the Addendum and Schedules 2 and 3 attached to the
Original Lease and those provisions shall not apply with respect to this First Amendment or Tenant’s lease of the Expansion Premises. Landlord shall have no obligation to construct any tenant improvements for the Original Premises during the
Extended Term. 
 b. Tenant hereby agrees to accept the Expansion Premises in its “as-is” condition existing on the Effective Date
and Landlord shall have no obligation to construct any tenant improvements to the Expansion Premises on behalf of Tenant. Landlord represents and warrants to Tenant that, to the best of Landlord’s knowledge, all Code Compliance Work in the
Expansion Premises (as described in Schedule 3 of the Lease) and items 1, 2 and 3 of the Demising Work (as described in Schedule 4 of the Lease) have been completed. If it is discovered that any of the Code Compliance Work or Demising Work for the
Expansion Premises referenced 

  

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hereinbefore was not completed, Landlord, at Landlord’s expense, shall be obligated to take action and complete the same following such discovery.

 10. Options to Renew. The Options to Renew contained in Paragraph 8 of the Addendum shall apply with respect to the Expansion
Premises, it being understood that Tenant must exercise the Options to Renew with respect to the entire Premises (i.e., the Original Premises and the Expansion Premises) and not merely a part thereof. 
 11. Miscellaneous. Paragraphs 2, 5, 9 and 10 of the Addendum are hereby deleted in their entireties and shall be of no further force and
effect. 
 12. Brokers. Tenant represents and warrants to Landlord that Tenant has not had any dealings or entered into any
agreements with any person, entity, realtor, broker, agent or finder in connection with the negotiation of this First Amendment other than Coldwell Banker Commercial NRT. Tenant and Landlord shall indemnify and hold each harmless from and against
any loss, claim, damage, expense (including costs of suit and reasonable attorneys’ fees) or liability for any compensation, commission or charges claimed by any other realtor, broker, agent or finder claiming to have dealt with Tenant in
connection with this First Amendment. 
 13. Reaffirmation of Terms. Except as modified herein, all of the terms, covenants and
provisions of the Lease are hereby confirmed and ratified and shall remain unchanged and in full force and effect. 
 14.
Representations. Tenant hereby represents and warrants to Landlord that Tenant (i) is not in default of any of its obligations under the Lease and that such Lease is valid, binding and enforceable in accordance with its terms,
(ii) has full power and authority to execute and perform this First Amendment, and (iii) has taken all action necessary to authorize the execution and performance of this First Amendment. 
 15. Counterpart Copies. This First Amendment may be executed in two or more counterpart copies, each of which shall be deemed to be an
original and all of which counterparts shall have the same force and effect as if the parties hereto had executed a single copy of this First Amendment. 
  

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 IN WITNESS WHEREOF, Landlord and Tenant have executed this First Amendment as of the day and year
first above written. 
  

									
	LANDLORD:
	
	THE REALTY ASSOCIATES FUND V, L.P.,
	a Delaware limited partnership
		
	By:	 	Realty Associates Fund V LLC,
		 	a Massachusetts limited liability company, general partner
			
		 	By:	 	 Realty Associates Advisors LLC, a Delaware
 limited liability company, Manager

				
		 		 	By:	 	Realty Associates Advisors Trust, a Massachusetts business trust, sole member
					
		 		 		 	By:	 	 /s/ Kimberly Hourihan

		 		 		 		 	Kimberly M. Hourihan
		 		 		 		 	Regional Director
		
	By:	 	Realty Associates Fund V Texas Corporation,
		 	A Texas corporation, general partner
			
		 	By:	 	 /s/ Kimberly Hourihan

		 		 	Kimberly M. Hourihan
		 		 	Regional Director


  

	
	 2/23/06

	 Date of Execution

	 By Landlord


  

			
	TENANT:
	
	UNDER ARMOUR, INC.,
	 a Maryland corporation

		
	By:	 	 /s/ J. Scott Plank

	Name:	 	J. Scott Plank
	Title:	 	 CAO



  

	
	 2/10/06

	 Date of Execution

	 By Tenant


  

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 EXHIBIT A-2 
 THE EXPANSION PREMISES 
 (Floor Plan) 
  

 A-2-1