Addendum to Lease


    Exhibit
      10.16

     

     

    

      
        	 	 	 


      

    

    

       

      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 Lab
        #8 consisting
        of 1375
        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.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

       

      EXHIBIT
        "B"

       

      RENT
        SCHEDULE 

       

      Subsidized
        Rent 70% and 20% Subsidy

       

      
        	 	
                1st
                  12

                months

              	 	
                2nd
                  12

                months

              
	 	 	 	 
	
                Stipulated
                  Fair Market

              	
                $
                  22.00

              	
                Stipulated
                  Fair Market

              	
                $
                  23.00

              
	
                Rent*

              	 	
                Rent*

              	 
	 	 	 	 
	
                70%
                  Rent Subsidy*

              	
                $
                  15.40

              	
                20%
                  Rent Subsidy*

              	
                $
                  4.60

              
	 	 	 	 
	
                Monthly
                  Rent*

              	
                $
                  6.60

              	
                Monthly
                  Rent*

              	
                $
                  18.40

              
	 	 	 	 


      

      


       

      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 Nine Hundred Forty Five Dollars ($ 945.00),
        being
        the sum of: (a) Subsidized Rent of Seven Hundred Fifty Six Dollars ($ 756.00)
        [being the product of $ 6.60, the subsidized annual
        rent per square foot, and 1375
        square
        feet, the area of the Leased Premises, divided by 12
        months]; and (b) common area monthly rent of One Hundred Eighty Nine Dollars
        ($
        189.00), 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:     $
        2,635.00 / Month

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    


       

      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:
                  

              	 	
                BY:
                  

              
	
                Ed
                  Dickerson

              	 	
                Art
                  Patterson, Executive
                  Director