EX-10.14 Modification and Ratification of Lease



 


Exhibit 10.14


MODIFICATION AND RATIFICATION OF LEASE


     This Modification and Ratification of
Lease Agreement is made and entered
into between SPRINGCREEK PLACE, LTD. (Lessor or Landlord) and TRADESTATION
TECHNOLOGIES, INC. (formerly MarketArts, Inc., a Texas corporation) (Lessee or
Tenant) for and in consideration of One Dollar ($1.00) and other good and
valuable consideration, receipt of which is hereby acknowledged.


WITNESSETH:



     1.     Lessor and Lessee hereby confirm and ratify, except as modified below,
all of the terms, conditions and covenants in that certain written Lease
Agreement dated June 12, 1996 and amended October 12, 1998 and May 28, 1999,
between Lessor and Lessee, for the rental of the following described property:
1820 North Glenville Drive, Suite 110 containing approximately 6,345 square
feet and 1820 North Glenville Drive, Suite 100 containing approximately 7,180
square feet for a total of 13,525 square feet located in Richardson, Texas
75081.


     2.     Lessor and Lessee agree that the term of this Lease Agreement shall be
extended for sixty (60) months so that the expiration date shall be changed
from July 31, 2002 to July 31, 2007.


     3.     Lessor and Lessee agree that effective August 1, 2002, the base year
shall be changed to 2002.


     4.     Lessor and Lessee agree that the Lessee changed from MarketArts, Inc.,
a Texas corporation to TradeStation Technologies, Inc.


     5.     Lessor
and Lessee agree that anytime at Lessee’s request (which may be
given anytime after August 1, 2002,) Lessor shall
provide Lessee with an HVAC allowance totaling $20,000 to repair or replace the
existing HVAC units.


     6.     Lessor and Lessee agree that effective August 1, 2002, the base rent
shall decrease from $11,270.83 per month by $2,254.16 per month for a new base
rent of $9,016.67 per month.


     7.     Lessor and Lessee agree that effective August 1, 2003, the base rent
shall increase from $9,016.67 per month by $563.54 per month for a new base
rent of $9,580.21 per month.


     8.     Lessor and Lessee agree that effective August 1, 2004, the base rent
shall increase from $9,580.21 per month by $563.54 per month for a new base
rent of $10,143.75 per month.


     9.     Lessor and Lessee agree that effective August 1, 2005, the base rent
shall increase from $10,143.75 per month by $563.54 per month for a new base
rent of $10,707.29 per month.


     10.     Lessor and Lessee agree that effective August 1, 2006, the base rent
shall increase from $10,707.29 per month by $563.54 per month for a new base
rent of $11,270.83 per month.


     11.     Lessor and Lessee agree
that Lessor shall pay Maverick Commercial Real
Estate, L.P. (“Broker”) whatever commissions are owed in
connection with this agreement.


     12.     Option to Cancel Lease.
Provided Lessee is not in monetary default of
the Lease Agreement, Lessor hereby grants to Lessee a one-time option to cancel
this Lease as of July 31, 2005, provided Lessee (i) gives Lessor prior written notice of the
exercise of this option no later than April 30, 2005 and (ii) simultaneously with
the giving of such notice pays to Lessor $28,750 as consideration for the
early cancellation of this Lease.


SIGNED at
          Dallas,
Texas          ,
this
     25     
day of July, 2002.



	 	 	 
	 	 	LESSOR:
	 	 	 
	Attest	 	SPRINGCREEK PLACE, LTD.
	
	 	

	 	 	 
	 	 	By: /s/ John S. Dryden
	 	 	

	 	 	John S. Dryden
	 	 	 
	 	 	Title: President of 46 Corp
	 	 	

	 	 	G.P. of Springcreek, Ltd
	 	 	 
	 	 	 
	 	 	LESSEE:
	 	 	 
	Attest /s/ Kathy Jennings	 	TRADESTATION TECHNOLOGIES, INC.
	
	 	

	 	 	 
	 	 	By: /s/ John Jennings
	 	 	

	 	 	 
	(Corporate Seal)	 	Title: : Vice President