Exhibit 10.1


 


FIFTH AMENDMENT TO LEASE


 


THIS AGREEMENT, dated
for reference purpose only, February 18, 2004, is made by and between
Union Bank of California, N.A., as Successor in interest to Copper Mountain
Trust Corporation, Trustees, for Quest Group
Trust VI (“Landlord”), and
Pixelworks, Inc., an Oregon Corporation (“Tenant”).


 


RECITALS:


 


A.                                   The
parties hereto entered into a Lease dated May 1, 1998, and amended by Addendum
A dated May 1, 1998 and First Amendment to Lease dated August 11, 2000,
and Second Amendment to Lease dated January 24, 2001, Third Amendment to
Lease dated March 1, 2002, and Fourth Amendment dated June 23, 2004
(the “Lease”), for certain real property commonly known as Suite 207, 4,671
rentable square feet, Suite 111, 997 rentable square feet, Suite 110, 1,742
rentable square feet, Suite 107, 1,910 rentable square feet, Suite 105, 1,374
rentable square feet, and Suite 100, 3,029 rentable square feet, for a total of
13,696 rentable square feet, known as the “Premises”, located in Lakeside
Center, a Class A office building described as 8100 S.W. Nyberg Road, Tualatin,
Oregon 97062.


 


B.                                     The
parties desire to amend certain provisions thereof.


 


NOW, THEREFORE, the
parties hereto hereby agree as follows:


 


1.               Expansion Space.  Effective March 1, 2004 Tenant shall lease an additional
3,857 rentable square feet, known as Suites 201 (2,107 rsf) and 210 (1,380 rsf)
plus an additional 370 rentable square feet of corridor.  Lease term shall be co-terminus with
existing Premises.  Tenant’s total square
footage shall be 17,553 rsf.


 


2.               Lease Extension.  Effective October 1, 2004, Tenant and Landlord agree to
extend the lease term for an additional 52 months, through February 28,
2009.


 


3.               Base Rent Schedule:


 


Rent for the additional 3,857 rsf shall start
at $21.00 per square foot through 12/31/05 with three percent bumps beginning
January, 2006.


 


	
  03/01/04 – 03/31/04 *

  	
   

  	
  $28,484.00
  per month

  	
   

  	
  ($19.47/sf/yr)

  
	
  04/01/04 – 09/30/04

  	
   

  	
  $31,859.00
  per month

  	
   

  	
  ($21.78/sf/yr)

  
	
  10/01/04 – 12/31/05

  	
   

  	
  $31,664.00
  per month

  	
   

  	
  ($21.67/sf/yr)

  
	
  01/01/06 – 12/31/06

  	
   

  	
  $32,613.00
  per month

  	
   

  	
  ($22.32/sf/yr)

  
	
  01/01/07 – 12/31/07

  	
   

  	
  $33,591.00
  per month

  	
   

  	
  ($22.99/sf/yr)

  
	
  01/01/08 – 02/28/09

  	
   

  	
  $34.598.00
  per month

  	
   

  	
  ($23.68/sf/yr)

  



 












*Tenant
paying half month’s rent ($3,375) on 3,857 rsf for the month of March, 2004.


 


4.               Tenant Improvements.  Landlord will provide Tenant a tenant
improvement allowance of $123,894.00 to be applied toward the cost associated
with the attached (Exhibit A) tenant improvement plans for floors one, two and
four.  Tenant is solely responsible for
any tenant improvement cost beyond Landlord’s tenant improvement
allowance.  Landlord approves of
Tenant’s Tenant improvement plan (Exhibit A) with the following qualifications:


 


A.                                   Any
tenant improvement construction work must be performed by a contractor
signatory to the appropriate collective bargaining agreement. All tenant
improvements have been approved by all appropriate City and County inspectors.


B.                                     Tenant
shall provide Landlord a payment of $9,500.00 at the end of the Lease Term (or
upon vacation of Suite 100) to remove bathroom/showers in Suite 100. Tenant
agrees to remove bike racks(s) in Suite 100 at the end of Lease Term or upon
vacation of Suite 100.


C.                                     Tenant
agrees to remove all accordion doors and repair ceiling grid (if needed)
located in Suites 105/111 and in area known as Suite 200 at the end of the
Lease Term or upon vacation of the Premises.


 

















 


 


Fifth Amendment to Lease


Pixelworks, Inc.


 


D.                                    Second
Floor corridor shall be restored upon the end of the Lease term or upon
Tenant’s vacation of the Premises. Fourth floor also requires one-hour fire
walls around elevators as provided for on the third floor.


E.                                      Tenant
will provide Landlord with updated floor plans in CAD format upon completion of
tenant improvements.


 


5.               Tenant’s base year
for operating expenses for the Premises shall be calendar year 2004. Prorata
share of operating expenses for the Premises shall be 31.65%.


 


6.               Landlord does not
pay a broker fee on the Premises lease extensions. Landlord will pay a 5% fee
to Integrated Corporate Property Services for the expansion space in Suites 201
and 210 and corridor (3,857 rsf).


 


7.               As amended by this
Fifth Amendment to Lease, the Lease shall remain in full force and effect,
including all items in the Fourth Amendment to Lease now signed.


 


IN WITNESS WHEREOF,
the parties hereto have executed this Lease Amendment.


 


 


	
   

  	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
  Union Bank of California, N.A., as Trustee

  for Quest Group Trust VI

  	
  Pixelworks, Inc., an Oregon Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Tim West, Vice President

  	
   

  	
   

  	
  Hans Olsen, Executive Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  	
   

  
										



 


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