Exhibit 10.3


 


Aerospace/Defense, Inc.


4838 Jenkins Avenue


North Charleston, SC 29405


Telephone: (843) 744-5174


Facsimile: (843) 747-4092


E-mail:
garfinklej@intertechsc.com


 


August 26, 2008


 


John F. Wall, III,
Esquire


Vice President, Legal
Affairs


Force Protection Industries, Inc.


9601 Highway 78


Ladson, SC  29456


 


Re:                               Amendment to each of the following Leases between Aerospace/Defense, Inc.
(the “Landlord”) and Force Protection Industries, Inc. and Force
Protection, Inc. (collectively, the “Tenant”) (covering various
buildings/sites located at the Landlord’s industrial development situated in
Ladson (Charleston County) South Carolina — extending the Initial Term from March 31,
2009 to June 30, 2009:


 


1.                                       Fourth Amended and Restated Industrial Lease
(covering certain premises within Building No. 1) effective as of July 1,
2007;


2.                                       Office Lease dated June 1, 2005
(covering a portion of the Office Area in Building No. 1) last amended by
First Amendment to Office Lease effective as of July 1, 2007;


3.                                       Industrial Lease dated July 13, 2004
(covering a portion of Building No. 2) last amended by Fourth Amendment to
Lease effective as of November 1, 2007;


4.                                       Industrial Lease dated September 2, 2003
(covering Building No. 3) last amended by Second Amendment to Lease effective
as of July 1, 2007; and


5.                                       Ground Lease dated February 1, 2007
(covering the Ground Lease on which Building No. 6 has been built) last
amended by First Amendment to Ground Lease effective as of July 1, 2007.


 


(collectively, the “Leases” and individually
a “Lease”).


 


Dear Mr. Wall:


 


Pursuant to Section 27K
of the Leases (referencing amending each Lease), this letter, when signed by an
authorized representative of each Tenant, shall serve as an amendment (the “Third
Extension Amendment”) to each of the Leases referenced above (as last amended
by Second Extension Amendment dated June 2, 2008).


 


The Initial Term (as
that term is defined in each such Lease) is hereby extended to and will expire
on June 30, 2009.


 


For clarification and
avoidance of doubt, Section 2 of each Lease (with respect to extending the
terms of each Lease) provides in part that the Tenant may extend its option to
renew by notice in


 

















 


writing to the Landlord
served at least six (6) months and not more than twelve (12) months prior
to the end of the Initial Term or the then-current Option Period, as the case
may be. Therefore, in order for the Tenant to exercise its option to extend the
Initial Term of each Lease (should the Tenant so desire to exercise such
right(s)) due to expire on June 30, 2009, as provided for in this Third
Extension Amendment, the Tenant must serve a notice in writing upon the
Landlord no later than December 31, 2008.


 


If this Third Extension
Amendment or the signature page, as executed, is transmitted by one party to
the other by facsimile transmission or electronic “pdf” transmission, such
transmission shall be deemed an executed original of this Third Extension
Amendment and of such signature.


 


Except as modified by this
Third Extension Amendment, the Leases remain unchanged.


 


If the Tenants agree to the
terms and provisions of this Third Extension Amendment, please have an
authorized representative of each Tenant sign below and thereafter either fax
or pdf to me the original hereof.


 


Aerospace/Defense, Inc.


 


 


	
  By:

  	
   /s/ M. Jerry Garfinkle

  	
   

  
	
   

  	
  M. Jerry Garfinkle

  
	
  Its:

  	
  Senior Vice President

  
				



 


 


We agree to the above
Third Extension Amendment:


 


	
  Force Protection
  Industries, Inc.

  	
   

  	
  Force
  Protection, Inc.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ M. Moody

  	
   

  	
  By:

  	
   /s/ M. Moody

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Its: 

  	
  CEO

  	
   

  	
  Its: 

  	
  CEO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date: 

  	
   8/27/08

  	
   

  	
  Date: 

  	
  8/27/08

  
										



 


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