Exhibit 10.7


 


Amendment to Lease Agreement

Amendment # 1


 


Whereas, on
January 3, 2002, a certain Lease Agreement was entered between Seven October
Hill, LLC (“Landlord”) and Harvard Bioscience, Inc. (“Tenant”), covering a
certain space being 20,000 square feet on the lower level at 84 October Hill
Road in Holliston, Massachusetts.


 


Whereas, it is
the desire of the parties to amend the Lease, in certain particulars.  Now, therefore, for and in consideration of
value received, the undersigned Landlord and Tenant confirm their agreement as
follows:


 


1.               Area as defined in the Premises section
of the Basic Lease Information of the Lease dated January 3, 2002, shall be
amended to 24,500 square feet as reflected on the site plan attached
hereto.  Approximately 20,000 square
feet of space shall be on the lower level of the building and 4,500 square feet
shall be on the upper level of the building located at 84 October Hill Road
(Building # 7), Holliston,  MA.


 


2.               Tenant’s Proportionate Share of
Operating Expenses and Real Estate Taxes shall be adjusted from 17.86 % to
21.90%, which is the percentage obtained by dividing the total square feet
rented (24,500) by Harvard Bioscience, Inc. (“Tenant”) by the rentable square
footage in the building (112,000).   The
Operating Expenses and Real Estate Taxes shall begin on February 1, 2003.


 


3.               The Term for the additional 4,500 square
feet shall begin on February 1, 2003 and run co-terminus with the original
lease dated January 3, 2002, ending on March 31, 2005.


 


4.               Basic Rental Rate shall be $ 8.00 + NNN.


 


Basic Rent
shall be charged on a graduated square footage increase for the additional
(4,500 s.f.) leased on the upper level for the following periods:


 


	
  Lease Months:

  	
   

  	
  Square
  Footage

  Basic Rent billed on:

  	
   

  	
  Basic Rent
  (p.s.f.):

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  February 1 , 2003 – July 31, 2003

  	
   

  	
  2,500 s.f.

  	
   

  	
  $

  	
  8.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  August 1, 2003 – January 31, 2004

  	
   

  	
  3,500  s.f.

  	
   

  	
  $

  	
  8.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  February 1, 2004 – March 31, 2005

  	
   

  	
  4,500  s.f.

  	
   

  	
  $

  	
  8.00

  	
   

  



 


5.               Landlord agrees to touch-up the existing
paint; clean, wax and seal the tiled floors; remove one wall at the end of the
cafeteria area; install one new door; exterminate as required; and perform
general clean-up before occupancy. Landlord and tenant agree to split the cost
for new carpeting throughout the additional 4,500 square foot space, the
identical carpet as was recently installed on the lower level.


 


In all other
respects, the terms and conditions of the Original Lease shall remain in full
force and effect. All parties hereto, their successors and assigns and is
hereby made a part of the above described Lease Agreement.


 


	
  EXECUTED AND
  DELIVERED this  31st day of 
  January 2003.

  
	
   

  	
   

  	
   

  
	
  Landlord:

  	
  Tenant:

  	
   

  
	
   

  	
   

  	
   

  
	
  Seven
  October Hill LLC

  	
  Harvard
  Bioscience, Inc.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ John R.
  Parsons, Jr.

  	
   

  	
  By:   /s/
  Robert D. Bohne

  	
   

  
	
   

  	
  John R.
  Parsons, Jr.

  	
  Robert D.
  Bohne

  	
   

  
	
   

  	
  Managing
  Member

  	
  V.P.
  Operations & Engineering