exv10w25







	 	 	 	 	 



EXHIBIT
10.25




Third Amendment to Lease Agreement



This Third Amendment to Lease Agreement (the “Amendment”) is made and entered into as of April
10, 2002, by Crossroads Technology Partners and Nearon Crossroads, LLC., as successors in
interest to Principal Development Investors, LLC. (“Landlord”), and Abaxis, Inc., a California
corporation (“Tenant”), with reference to the following facts.






Landlord and Tenant have entered into that certain Lease
Agreement dated as of June 21, 2000 and that certain First Amendment
dated as of August 28, 2000, and Second Amendment to Lease Agreement
dated as of November 20, 2000 (hereinafter, collectively the
“Lease”) for the leasing of certain premises consisting of
approximately 91,124 rentable square feet located at 3240 Whipple
Road, Union City, California (the “Premises”) as such Premises are
more fully described in the Lease.




Pursuant to Lease Exhibit B, paragraph 10 “Excess Tenant
Improvement Cost”, Landlord funded excess tenant improvements of
$455,650.00. On April 1, 2002, Tenant paid off the remaining
principal balance on the Excess Tenant Improvement cost,
$425,388.02. Landlord acknowledges receipt of payment.




Landlord and Tenant now wish to amend the Lease to provide for
a modification to the Base Rent schedule for the Term of this Lease.


in consideration of the foregoing and for other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, Landlord and Tenant agree as follows:





Landlord and Tenant agree that the above recitals are true and correct and are hereby
incorporated herein as though set forth in full.




Landlord and tenant agree that the Base Rent will be adjusted on the dates and in the amounts as
set forth below:




for the period of April 1, 2002 to December 31, 2002, the monthly
Base Rent shall be $71, 076.72;




for the period of January 1, 2003 to December 31, 2003, the monthly
Base Rent shall be $73,919.79;




for the period of January 1, 2004 to December 31, 2004, the monthly
Base Rent shall be $76,876.58;




for the period of January 1, 2005 to December 31, 2005, the monthly
Base Rent shall be $79,951.64;




for the period of January 1, 2006 to December 31, 2006, the monthly
Base Rent shall be $83,149.71;




for the period of January 1, 2007 to December 31, 2007, the monthly
Base Rent shall be $86,475.70;




for the period of January 1, 2008 to December 31, 2008, the monthly
Base Rent shall be $89,934.73;




for the period of January 1, 2009 to December 31, 2009, the monthly
Base Rent shall be $93,532.12;




for the period of January 1, 2010 to December 31, 2010, the monthly
Base Rent shall be $97,273.40.



     Except as modified herein, the terms and conditions of the Lease shall remain unmodified and
continue in full force and effect. In the event of any conflict between the terms and conditions
of the Lease and this Amendment shall prevail.



     Unless otherwise defined in this Amendment, all terms not defined in this Amendment shall have
the meaning set forth in the Lease.



     Subject to the provisions of the Lease, this Amendment shall be binding upon and inure to the
benefit of the parties hereto, their respective heirs, legal representatives, successors and
assigns. Each party hereto and the persons signing below warrant that the person signing below
on such party’s behalf is authorized to do so and to bind such party to the terms of this
Amendment.



     The terms and provisions of the Lease are hereby incorporated in this Amendment.



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	 	 	The parties have executed this Amendment as of the date and year first above written.





	 	 	 	 	 
	Abaxis, Inc.,

a California corporation

 	 	 
	By:  	/s/ Clint Severson
 	 	 
	 	Its:      President & CEO 	 	 
	 	 	 
	Date: 10/28/02 	 	 
	 	 	 
	By:  	      /s/ Alberto Santa Ines
 	 	 
	 	Its: VP Finance & CFO 	 	 
	 	 	 
	Date:  10/28/02 	 	 
	 
	Crossroads Technology Partners:

Nearon Crossroads, LLC

 	 	 
	By:  	/s/ Kirk Syme
 	 	 
	 	Its: Managing Partner 	 	 
	 	 	 
	Date: 11/01/02 	 	 




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