Exhibit 10.2


 


FOURTH
ADDENDUM TO LEASE AGREEMENT WITH


OPTION TO PURCHASE


 


THIS
FOURTH ADDENDUM TO LEASE AGREEMENT (this “Addendum”), dated this 22nd day of
December, 2009, by and between VIKING PROPERTIES, LLC, an Indiana limited
liability company, and LOGAN INDIANA PROPERTIES, LLC, an Indiana limited
liability company (collectively “Landlord”) and ACCURIDE CORPORATION, a
Delaware corporation, (“Tenant”).


 


WITNESSETH, THAT:


 


WHEREAS, Woodward, LLC, as the landlord, and Tenant
have heretofore executed a certain Lease with Option to Purchase dated the 26th day of October, 1998, as amended by the First
Addendum to Lease Agreement with Option to Purchase dated the 6th day of January, 1999, as further amended by
the Second Addendum to Lease Agreement with Option to Purchase dated effective
the 1st day of November, 1999, and as amended by the
Third Addendum dated effective the 1st day of June 2008
(collectively the “Lease”); and


 


WHEREAS, the Landlord is the assignee and the
successor-in-interest to the interests of Woodward, LLC, as the landlord, under
the Lease; and


 


WHEREAS, on October 8, 2009 (the “Petition Date”),
Tenant filed a petition with the United Stated Bankruptcy Court for the
District of Delaware under chapter 11 of the Bankruptcy Code , Case No. 09-13449
(BLS); and


 


WHEREAS,
The Tenant has filed its First Amended Plan of Reorganization for Accuride
Corporation et al. (as amended from time to time, the “Plan”).  The Tenant will seek entry of an order
confirming the Plan (the “Confirmation Order”). 
The Plan will become effective upon the occurrence of the Effective Date
(as such term is defined in the Plan) of the Plan (the “Plan Effective Date”);
and


 


WHEREAS, the Landlord and Tenant desire to amend the
Lease with regard to the term, capital investment and certain other matters and
desire to make such amendments effective as of the Plan Effective Date; and


 


NOW, THEREFORE, in consideration of the
recitals and in consideration of the mutual promises and covenants hereinafter
set forth, and other valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows:


 


1.  Effective Date/Condition
Precedent.  The
modifications to the lease agreement reflected in this 4th Addendum will be effective as of Plan
Effective Date.  The occurrence of the
Plan Effective Date shall satisfy all conditions precedent, and no further
action shall be required by any of the parties hereto in order to make this 4th Addendum effective.  All conditions and obligations as set forth
in the Lease through the 3rd Addendum shall remain in effect
until the Plan Effective Date.


 


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2.  Term.  The second grammatical sentence of Section 2.01
of the Lease shall be deleted in its entirety and the following shall be
inserted in the Lease, in lieu thereof, as if originally part of the Lease:


 


“The
term of the lease shall expire five (5) years from the Plan Effective
Date, subject to renewal as provided for herein below.”


 


3.  Monthly Rental.  Section 1.01 of the Lease shall be
modified to read as follows, as if originally part of the Lease:


 


“1.01:  MONTHLY RENTAL:


 


Five
Year Term                     The monthly
rental amount shall be Forty Thousand


Commencing
On                   Eight Hundred and
00/100 Dollars ($40,800.00) per month, the Plan Effective Date representing an
annual rate of Fourteen and 40/100 Dollars ($14.40) per square foot.


 


4.  Renewal of Lease.  Section 25.01 of the Lease shall be
modified to read as follows, as if originally part of the Lease:


 


“25.01:  RENEWAL OF LEASE:  Provided that the Tenant is not in default,
at the end of the current term of the Lease, which expires five (5) years
from the Plan Effective Date, the Tenant shall have the right to renew and
extend the term of this Lease for two (2) separate successive additional
terms of five (5) years each.  To
exercise the right to renew and extend the term of this Lease for an additional
five (5) year term, Tenant shall provide written notice to the Landlord of
its desire and intent to extend and renew the term of this Lease which notice
must be provided not less than six (6) months prior to the end of the then
current Lease term.  The rental rate for
each renewal term shall be at the then current market rate but not to exceed an
annual rate of Seventeen and 71/100 Dollars ($17.71) per square foot.  If the Tenant and the Landlord are unable to
agree upon the current market rental rate in any renewal term, and Tenant still
desires to renew the Lease, Landlord and Tenant shall submit the matter to
arbitration pursuant to Section 34.01 of the Lease.”


 


5.  Capital for Improvements.  The following provision shall be added as Section 38.01
to the Lease, as if originally part of the Lease:


 


“38.01
ADDITIONAL CAPITAL FOR IMPROVEMENTS:  At
Tenant’s option, Tenant may choose to draw up to One Hundred Fifty Thousand
Dollars ($150,000.00) as a capital contribution from Landlord to be used for
improvements to the existing Leased Premises. 
Upon written notice to Landlord of this draw, the requested money shall
be paid to Tenant in a lump sum amount within five (5) business days of
such notice.  This money, if drawn, will
be repaid as additional monthly rent amortized over the then remaining term of
the Lease at an interest rate 


 


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of
thirteen percent (13%).(1)   Tenant
may repay the principal on this capital draw at any time with no penalties,
along with any interest that would have accrued to that point”


 


6.  Alterations.  The following shall be added as the second
sentence of Section 6.01 of the Lease, as if originally part of the Lease:


 


“The parties have
conceptually agreed upon alterations to allow Tenant to implement a shared
services center and alterations to the building to provide a more open
architecture.  Such alterations shall be
subject to final approval by the Landlord whose approval shall not be
unreasonably withheld.”


 


7.  Events of Default by
Landlord.  Section 14.01(a) of
the Lease shall be modified to change the word “TENANT” to “LANDLORD,” as if
originally reflected in the Lease.


 


8.  Notices.  Section 22.01 of the Lease shall be
modified to list the following contact for notices to the Tenant going forward:


 


“Attention:            General Counsel


Accuride Corporation


7140 Office Circle


Evansville, IN 47715


Facsimile Number: 
(812) 962-5030.”


 


9.  Intent of the Parties.  It is the intent and desire of the parties to
amend and modify the terms and conditions of the Lease in accordance with the
terms of this Addendum as if the Lease originally contained such terms and
conditions as set forth herein.  As
amended by this Addendum, the parties hereto hereby ratify and confirm the said
conditions shall remain in full force and effect.  In the event any of the terms and conditions
of the Lease are in conflict with the terms and conditions of this Addendum,
the terms and conditions of this Addendum are paramount and this Addendum shall
govern the terms of the relationship of the parties and the Lease shall be
construed accordingly.


 






(1) For
example:  If $150,000 is drawn and paid
with the full five (5) year term remaining, this would be monthly payments
of $3,412.00 in addition to regular monthly lease payments.


 


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10.  Authority to Execute.  The individual(s) executing this Addendum
on behalf of the Tenant and Landlord represent and warrant that they are duly
authorized to deliver this Addendum and that this Addendum is binding upon each
party in accordance with its terms.


 


 


	
   

  	
  VIKING PROPERTIES, LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/
  Thomas B. Logan

  
	
   

  	
   

  	
  Thomas B. Logan, Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LOGAN INDIANA PROPERTIES,
  LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/
  Thomas B. Logan

  
	
   

  	
   

  	
  Thomas B. Logan, Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “Landlord”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ACCURIDE CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/
  James H. Woodward, Jr.

  
	
   

  	
   

  	
  James Woodward, Chief
  Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “Tenant”

  



 


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