exv10w01




EXHIBIT 10.01





FIRST AMENDMENT TO OFFICE/WAREHOUSE LEASE




     THIS FIRST AMENDMENT TO OFFICE/WAREHOUSE LEASE (the “Amendment”) is made effective May 30,
2008, between SMD LINCOLN INVESTMENTS, a Minnesota limited liability company (“Landlord”) and
LECTEC CORPORATION, a Minnesota corporation (“Tenant”).




	 	A.	 	Pursuant to the Office/Warehouse Lease dated as of May 23, 2003 between
Landlord and Tenant (the “Lease”), Landlord leased to Tenant approximately 14,316
square feet of space in a building located at 5618 Lincoln Drive, Edina, Minnesota, as
more particularly described in the Lease (the “Demised Premises”).
	 
	 	B.	 	Except as hereinafter specifically provided, all words in this Amendment
beginning with capital letters which are not normally capitalized shall have the
meaning ascribed to such words in the Lease.
	 
	 	C.	 	Landlord and Tenant desire to amend the Lease to alter certain provisions
thereof on the terms and conditions hereinafter set forth.





     NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Landlord and Tenant agree as follows:




	 	1.	 	Each capitalized term used in this First Amendment shall have the same meaning
as is ascribed to such capitalized term in the Lease, unless otherwise provided for
herein.
	 
	 	2.	 	Effective May 30, 2008 the definition of the “Demised Premises” identified in
the Definitions Section of the Lease is hereby amended to reduce the square footage
leased for the remainder of the term of the lease from 14,316 square feet to 3,299
square feet (the “New Demised Premises”) as identified on the attached Exhibit A.
	 
	 	3.	 	Section 2 of the Lease is hereby amended as of June 1, 2008 to reduce the Net
Rent for the New Demised Premises for the remainder of the Term as follows:




 









 











	 	 	 	 	 	 	 	 	 
	 	 	Period	 	Monthly
	Period	 	Net Rent	 	Net Rent
	6/1/08-8/31/08
	 	$	4,428.84	 	 	$	1,476.28	 







	 	4.	 	The definition of “Tenant’s Proportionate Share” identified in the Definitions
Section of the Lease is hereby amended to decrease Tenant’s Proportionate Share from
18.35% to 4.23%.
	 
	 	5.	 	Landlord and Tenant represent and warrant that each has all the necessary
approvals and authority to enter into this Amendment, and shall indemnify and hold each
other harmless for any breach of this representation and warranty.
	 
	 	6.	 	Landlord and Tenant represent and warrant that there are currently no defaults
by either party under the Lease.
	 
	 	7.	 	This Amendment may be executed in any number of counterparts, each of which
shall be an original, but such counterparts shall together constitute one and the same
instrument. Faxed signatures shall be considered originals.
	 
	 	8.	 	All of the terms of the Lease, as amended hereby, are hereby ratified and
confirmed.





[SIGNATURE PAGES TO FOLLOW]




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     WHEREFORE, Landlord and Tenant have executed this Amendment as of the date first above
written.



	 	 	 	 	 	 	 
	 	 	LANDLORD:	 	 
	 
	 	 	 	 	 	 
	 	 	SMD LINCOLN INVESTMENTS, LLC,

a Minnesota limited liability company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Dennis J. Doyle
 

	 	 
	 

	 	 	 	Dennis J. Doyle	 	 
	 

	 	 	 	Its: President	 	 





	 	 	 	 	 	 	 
	 	 	TENANT:	 	 
	 
	 	 	 	 	 	 
	 	 	LEC TEC CORPORATION., 

a Minnesota corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Bill Johnson	 	 
	 

	 	 	 	 	 	 
	 

	 	Print Name:
	 	 Bill Johnson	 	 
	 

	 	Title:
	 	Controller	 	 






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EXHIBIT A




DEPICTION OF THE NEW DEMISED PREMISES





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