Exhibit 10.22


 


LEASE
MODIFICATION


 


PARTIES:


 


	
  LANDLORD:

  	
   

  	
  David E. Cookson

  
	
   

  	
   

  	
   

  
	
  TENANT:

  	
   

  	
  Advanced Power Technology,
  Inc.

  
	
   

  	
   

  	
   

  
	
  PROPERTY:

  	
   

  	
  405 S. W. Columbia, Bend,
  Oregon 97702

  



 


The parties agree to modify
that certain lease dated August 27, 1985 and modified September 15, 1995,
September 15, 1999, July 1,2001 and amended July 14,
1998 as follows:


 


	
  Basic Rent:

  	
   

  	
  September 15, 2003 through
  September 14, 2004

  	
   

  	
  $16,410.00 per month

  
	
   

  	
   

  	
  September 15, 2004 through
  September 14, 2005

  	
   

  	
  $17,066.00 per month

  
	
   

  	
   

  	
  September 15, 2005 through
  September 14, 2006

  	
   

  	
  $17,749.00 per month

  
	
   

  	
   

  	
  September 15, 2006 through
  September 14, 2007

  	
   

  	
  $18,459.00 per month

  
	
   

  	
   

  	
  September 15, 2007 through
  September 14, 2008

  	
   

  	
  $19,197.00 per month

  
	
   

  	
   

  	
   

  
	
  Lease Term:

  	
   

  	
  The term of the lease
  shall be from September 15, 2003 through September 14, 2008.

  
	
   

  	
   

  	
   

  
	
  CAM Charges:

  	
   

  	
  The CAM charges will
  continue to be assessed as per the original lease dated March 21, 1985.

  



 


Option to Renew:                                                  In consideration of the mutual covenants of
the Lease, and if Tenant is not in default,


Tenant shall have the option
to renew the Lease of the property located at 405 S. W. Columbia Street, Bend,
Deschutes County, Oregon, for one five (5) year period. The renewed Lease shall
be on the same terms as the original Lease, except for rental amount, which
shall be negotiated at the time Tenant exercises its option. Tenant shall
notify Landlord in writing of its intention to renew not more than nine (9) and
not less than six (6) months prior to the end of the original Lease term.
Failure to so notify Landlord shall result in forfeiture of the option to
renew.


 


DISCLOSURE: Tenant
acknowledges that Compass Commercial Real Estate Services, agent for owners, is
licensed by the State of Oregon, as a real estate broker. Said agent is not
representing Tenant in any manner.


 


DISCLAIMER: This lease
modification has been prepared and approved upon the instruction of the
Landlord. Compass Commercial Real Estate Services claims no responsibility for
the legal consequences of the above lease modification and has only acted as
the scribner to fill in the blanks as directed by the parties.


 


This modification is
effective September 15, 2003. All other provisions of the original lease shall
remain in full force and effect.


 


	
  LANDLORD:

  	
  TENANT:

  
	
  DAVID E. COOKSON

  	
  ADVANCED POWER TECHNOLOGY,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  BY:

  	
   

  	
   

  	
  BY:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
  Dated:

  	
   

  	
   

  
								



 





















 


PARTIES:


 


LANDLORD:                         David E. Cookson, Trustee of Cookson Family
Trust, and Margot K. Cookson, Trustee of Cookson Family Trust


 


TENANT:                                          Advanced Power Technology, Inc.


 


PROPERTY:                               405 S.W. Columbia, Bend, Oregon 97702


 


The parties agree to modify
that certain lease dated August 27, 1985 and modified September 15, 1995 and
September 15, 1999 as follows:


 


Terms:                                                           Tenant is authorized to complete an
approximately 526sf addition to the existing building at Tenants expense with
Landlord approval as per the attached plan. All work to be completed in
compliance with existing building codes, permits and requirements, by a
licensed contractor. This addition brings the total square footage of the
leased space to approximately 18,776sf. In recognition of the efforts and
expense of the tenant the rental amount will remain at its current rate as
stated in the lease and lease modifications mentioned above. All other terms
and conditions of the existing lease shall remain in effect.


Tenant agrees to provide an “as
built” plan to Landlord at completion of improvement.


 


Disclosure:                                 Tenant acknowledges that Compass Commercial
Real Estate Services, agent for owner, is licensed by the State of Oregon as a
real estate broker. Said agent is not representing Tenant in any manner.


 


Disclaimer:                                     This lease modification has been prepared and
approved upon the instruction of the Landlord. Compass Commercial Real Estate
Services claims no responsibility for the legal consequences of the above lease
modification and has only acted as the scribner to fill in the blanks as
directed by the parties.


 


This modification is
effective July 1, 2001. All other provisions of the original lease shall remain
in full force and effect.


 


LANDLORD:                        David E. Cookson, Trustee of Cookson Family
Trust, and Margot K. Cookson, Trustee of Cookson Family Trust


 


	
  BY:

  	
   

  	
   

  	
  Dated:

  	
   

  	
   

  
	
                     David
  E. Cookson, Trustee

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  TENANT:

  	
  Advanced Power Technology,
  Inc.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BY:

  	
   

  	
   

  	
  Dated:

  	
   

  	
   

  
								



 


 





















 


LEASE
ADDENDUM


 


	
  DATE:

  	
   

  	
  July 8, 1998

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  PARTIES:

  	
   

  	
  David E. Cookson

  	
   

  	
  (“Landlord”)

  
	
   

  	
   

  	
  664 WoodStock Road

  	
   

  	
   

  
	
   

  	
   

  	
  Hillsborough, CA 94010

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Advanced Power Technology,
  Inc.

  	
   

  	
  (“Tenant”)

  
	
   

  	
   

  	
  405 SW Columbia Street

  	
   

  	
   

  
	
   

  	
   

  	
  Bend, OR 97702-1000

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  PREMISES:

  	
   

  	
  405 SW Columbia Street

  	
   

  	
   

  
	
   

  	
   

  	
  Bend, OR 97702-1000

  	
   

  	
   

  



 


LEASE AMENDED:


That Commercial Lease
between Landlord and Tenant dated March 21, 1985 (the “Lease”).


 


RECITALS:


 


A.                                  Tenant is in possession of the Premises under
the terms of the Lease.


 


B.                                  Tenant wishes to extend fiber optic cables
from its offices at 296 SW Columbia Street, Bend, Oregon, and fiber optic and
copper cable from its offices at 397 SW Columbia Street, Bend, Oregon to the
Premises. Landlord has agreed to such installation.


 


C.                                  The parties wish to amend the Lease to
provide for the installation of cable and the restoration and maintenance of
areas though which cable will be installed.


 


It is, therefore, agreed
that the Lease be amended to include the following terms:


 


AGREEMENT:


1.                                    Permission to Install
conduits and cables.  Landlord grants to Tenant the right to install
and maintain underground conduits containing fiber optic and copper cables on
and under the property of Landlord on which the premises are located. Installation
shall be at the location identified on Exhibit A attached hereto and
incorporated herein by reference.


 


2.                                      Tenant’s Obligations. Tenant shall have the following obligations
with regard to the cable:


 


2.1 Restoration of the surface of the ground,
including asphalt and concrete surfaces, immediately following underground
installation.


 


2.2 Installation in a prompt and workmanlike
manner, including appropriate signange during excavation.


 


3.                                      Landlord’s Obligations. Landlord shall have no responsibilty for
maintenance and/or repair of the cable.


 


4.                                      Lease Preserved. Upon execution, this Addendum shall be
attached to and become a part of the Lease. Except as specifically set forth
herein, the terms of the Lease remain unmodified and fully enforceable.


 


	
  Landlord:

  	
   

  	
  Tenant:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Advanced
  Power Technology, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  David E. Cookson

  	
  Greg Haugen

  
	
   

  	
  Vice-President, Finance
  and Administration