THIRD AMENDMENT TO LEASE AGREEMENTExhibit 10.29     THIS THIRD AMENDMENT TO LEASE AGREEMENT (**“Third Amendment”**) is entered into onSeptember 30, 2003, by RYAN COMPANIES US, INC., a Minnesota corporation (“Landlord”),PEGASUS SOLUTIONS COMPANIES, a Delaware corporation (“Tenant”), and PEGASUS SOLUTIONS, INC.,a Delaware corporation (“Guarantor”).Recitals:     A. Landlord and Tenant entered into that certain Lease Agreement (“Lease”)for the Premises dated September 14, 2001, as amended by the First Amendment toLease Agreement dated as of June 28, 2002, and by the Second Amendment to LeaseAgreement dated February 28, 2003. Undefined capitalized terms in this ThirdAmendment are defined in the Lease.     B. Tenant desires to lease an additional 19,975 square feet of Rentable Areaon the third floor of the Building (the **“Expansion Space”**) for a term coterminous withthe existing Term of the Lease.     C. Upon execution of this Amendment by the parties hereto, the RentableArea of the Premises will be 144,959 square feet (as calculated and certified by theProject Architect) which represents the entire Rentable Area of the Building.     D. Landlord and Tenant wish to amend the Lease to provide for theexpansion of Tenant’s Premises.Covenants:     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiencyof which are hereby acknowledged, Landlord and Tenant agree as follows:     1. Landlord will cause Ryan Companies US, Inc. as the general contractor toconstruct and install the tenant improvements for the Expansion Space (the **“ExpansionSpace Tl”**). The Expansion Space Tl will be the improvements shown on the plan(**“Plan”**) for the Expansion Space prepared by Evolution Design, who has beendesignated by Landlord and Tenant as the Architect for the Expansion Space. If thePlan has not been completed by the date of this Third Amendment, Landlord andTenant will work diligently with the Architect to complete the Plan.     2. Landlord will contribute Forty Dollars ($40.00) per rentable square foot inthe Expansion Space for the cost of design, space planning, construction andinstallation of the Expansion Space Tl (**“Allowance”**). The general contractor willreceive a total fee of eight percent (8%) of the cost of the Expansion Space Tl for its
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profit and overhead together with its general conditions and all sales and excise taxes(**“Markups”**). The Markups will be a charge against the Allowance. If the final cost of theExpansion Space Tl *exceeds*the Allowance, Tenant will reimburse Landlord for the overage beforetaking occupancy of the Expansion Space unless Landlord in its sole discretion elects in writingto amortize the overage over the Term of the Lease.     3. Landlord will deliver the space to Tenant fifty working days (50) fromissuance of a building permit, as such date may be extended by reason of Tenant Delayor Force Majeure. Any delay in Substantial Completion will not affect the terms andconditions of the Lease or Tenant’s obligations to Landlord. If Substantial Completiondoes not occur on or before thirty (30) days after the 50 working days (the **“AdjustedDelivery Date”**), as such date may be extended by reason of Tenant Delay or ForceMajeure, then Tenant’s sole and exclusive remedy will be to receive one (1) day of freerent credit (for the Expansion Space only) for each day after the Adjusted Delivery Dateuntil the date of Substantial Completion.     4. The Term of the Lease as to the Expansion Space (the **“ExpansionSpace Term”**) will commence five (5) calendar days after Substantial Completion of theExpansion Space Tl (the **“Expansion Space CommencementDate”**), and will expireon January 31, 2013 unless the Lease is sooner terminated or thereafter extended asprovided in the Lease.     5. Beginning on the Expansion Space Commencement Date: a. The Rentable Area of the Premises will be increased by theRentable Area of the Expansion Space which will be calculated bythe Architect.  b. Tenant’s share of Operating Costs for the Building will be onehundred percent (100%).  c. Tenant will pay Annual Base Rent to Landlord for the ExpansionSpace *(in addition to*Annual Base Rent for the existing Premises)calculated as set forth below, without prior notice or demand,monthly in installments on the first day of each calendar monthduring the Term:       Years 1–5 $17.59 per rentable square foot, *net* ofOperating Costs       Years 6 - End ofinitial 10-year term    $20.23 per rentable square foot, *net* ofOperating Costs     6. Landlord will pay CB Richard Ellis and Colliers Classis a brokeragecommission on this transaction per separate agreements with the brokers.
 

 
     7. Guarantor consents to this Third Amendment.     8. Exceptas otherwise expressly provided herein, all other terms andconditions of the Lease will apply to the Expansion Space commencing on theExpansion Space Commencement Date unless patently inapplicable.     9. In the event of any inconsistency between the provisions of the Lease (asearlier amended) and this Third Amendment, this Third Amendment will govern. Exceptas expressly provided above, the Lease (as earlier amended) will remain in full forceand effect without change.   **LANDLORD:** **TENANT:**   **RYAN COMPANIES US, INC.,** **PEGASUS SOLUTIONS COMPANIES,**a Minnesota corporation a Delaware corporation               By:     By:                 Its:       Its:                                          **GUARANTOR:**                         **PEGASUS SOLUTIONS,INC.,**a Delaware corporation                         By:                           Its: