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Exhibit 10.10    
    

 
 

COMMERCIAL LEASE    
    

        THIS LEASE is entered into this date by and between DiiG, LLP, a Colorado limited liability company ("Lessor") and WESTERN BRANDS, LLC, a Colorado limited
liability company ("Lessee"). 

        In
consideration of the covenants, leases and stipulations herein contained on the part of the Lessee to be paid, kept and faithfully performed, the Lessor does hereby lease, demise and
let unto the said Lessee, and Lessee does hereby hire and take from Lessor the entire premise including the building containing 12,000 rentable square feet located at and commonly known as 6273
Monarch Park Place, Niwot, Colorado, 80503, including all parking associated with the building. 

        In
consideration of the leasing of said premises and of the mutual leases herein contained, each party hereto does hereby expressly covenant and agree to and with the other, as follows: 

        Section 1.    Acceptance of Lease.    The Lessee accepts said letting and agrees to pay to the order of the
Lessor the rentals stated below for the full term of this lease, in advance, at the times and in the manner aforesaid. 

        Section 2.    Term.    This lease shall commence January 1, 2005, and continue for a period of three
(3) years, ending at 5:00 P.M., December 31, 2007. 

        Section 3.    Option to Renew.    Lessee shall have the option to renew this lease for one additional three
(3) year term, if, at the time of renewal, Lessee is not then in default, as follows: 

        A.    The
options may be exercised by written notice to Lessor given not less than one hundred twenty (120) days prior to the last day of the term of this Lease for the
first option, and not less than one hundred twenty (120) days prior to the last day of the first option term for the second option. 

        B.    The
terms and conditions of the lease for the renewal term shall be identical with the original term except for the basic rent. The basic rent for each renewal term shall
be the then market rate for the premises, provided however, that the basic rent shall not increase by less than five percent (5%) over the prior year's basic rent. During each renewal term, the basic
rent shall increase at the rate of five percent (5%) per annum. During the renewal terms, Lessor shall be entitled to retain all rents received by Lessee from sublease, assignment and licensing of the
subject real property. 

        Section 4.    Basic Rent.    

        A.    Lessee
shall pay to Lessor for each full calendar month during the lease term, basic rent in the sum of nine thousand five hundred dollars ($9,500.00) per month. The
basic rent shall be payable in advance upon the 1st day of each calendar month through and including December 1, 2007. The first month's basic rent shall be paid on the commencement date of
this lease. If rent is not paid within five (5) days of its due date, Lessee shall pay an additional late fee of five percent (5%) of the monthly rental amount. Any amounts, whether basic rent
or additional rent which are not paid within ten (10) days after written notice to Lessee, shall bear interest at the rate of twelve percent (12%) per annum. 

        Section 5.    Additional Rent.    

        A.    The
Lessee shall pay Lessor additional annual rent equal to the cost of all operating expenses for the building and premises multiplied by one hundred percent (100%).
Operating expenses shall include, but not be limited to: (i) taxes, assessments and governmental taxes, whether federal, state, county or municipal, which are levied on or charged against the
premises and any other taxes and assessments attributable to the premises and its operation excluding, however, federal and state income taxes; (ii) all insurance premiums paid by the Lessor
attributable to the premises, for insurance customarily carried by owners of buildings of the same size and age as the demised premises; (iii) all expenses incurred in connection with the
maintenance, operation, and repair of the building, except as set forth in Section 9 B hereinafter, associated equipment, parking areas, and landscaped areas; 

 

(iv) building
and cleaning supplies and materials; (v) the cost of all charges for cleaning, maintenance and service contracts, trash collection, snow removal, and other services with
independent contractors; (vi) the reasonable amortization of any capital improvements which are made or installed by Lessor after the commencement of this lease for the purpose of saving labor
or otherwise reducing applicable operating expenses using generally accepted accounting practices consistently applied; and (vii) all other costs and expenses reasonably necessary in the
operation and maintenance of a first class building (any management fees shall not exceed five percent (5%) of the net income). Such additional rent shall be paid at monthly intervals in advance upon
receipt of statements of estimated charges from Lessor. At the end of each calendar year, or, at Lessor's option, at any other more frequent interval, Lessor shall provide a detailed accounting of the
total operating expenses for the Building, Lessee's share of such amount, and Lessee's payments toward such amount during the year or interval. During the thirty (30) day period following such
accounting, Lessor shall pay any excess to the Lessee if payments exceed expenses, and the Lessee shall pay additional rent to Lessor if expenses exceed payments. If Lessee does not agree with the
accounting provided by Lessor, Lessee shall have the right to examine the books and records of Lessor related to the premises for purposes of auditing the operating expenses, provided, however that
such audit shall be at Lessee's sole cost and expense unless the audit reveals a discrepancy of more than five percent (5%) in Lessor's favor, in which case the cost and expense of the audit shall be
reimbursed to Lessee by Lessor. 

        B.    Operating
expenses shall not include the cost of any work or service performed specially by the Lessor for the Lessee at the cost of such Lessee. 

        C.    During
the term of this lease, Lessee may, within Lessor's consent, which consent shall not be unreasonably withheld, contract with third parties to perform all or part
of the services described in Section 5 A above. 

        Section 6.    Adjustment of Basic Rent.    

        The
amount of basic monthly rent shall be adjusted for the succeeding twelve months on each anniversary date of this lease as follows: January 1, 2006—nine thousand
seven hundred fifty dollars ($9750.00); January 1, 2007—ten thousand dollars ($10,000). 

        Section 7.    Right to Contest Taxes.    Lessor, at Lessor's discretion, may protest the amount of any
assessment of real property taxes. If Lessor obtains a reduction in assessment and/or real property taxes and after deducting reasonable expenses involved in the contesting of said taxes, Lessor shall
credit to Lessee any net reduction in real estate taxes affected for a year for which Lessee has previously paid said taxes. If, in Lessor's discretion, Lessor refuses to contest the amount of any
assessment and/or real property taxes, then Lessee shall have the right to contest any such assessment and/or real property taxes. If Lessee elects to contest such assessment and/or real property
taxes, Lessee shall diligently conduct such proceedings on behalf of Lessor or other entity entitled to initiate such proceedings or other actions. Lessor shall cooperate with Lessee in any such
contest and shall execute and deliver any documents reasonably required to be executed by Lessor as owner of the demised premises in connection with
such contest. If the proceedings or other actions instituted by Lessee result in the reduction in the amount of assessment and/or tax, Lessee shall first be reimbursed from the amount of rebate or
reduction, if any, of taxes previously paid for Lessee's expenses in undertaking and prosecuting the proceeding or other action, and then Lessee shall be reimbursed the balance of any rebate. Lessee
shall also be entitled to a credit for of any net reduction in real estate taxes affected for future years by reason of the payment of any increase in real property taxes as set forth in this lease. 

        Section 8.    Use of Premises.    

        A.    The
Lessee shall use said demised premises during the term of this lease for general office purposes and warehousing, provided that said use complies with all applicable
laws, ordinances and 

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regulations,
and for no other purpose whatsoever without Lessor's written consent, which shall not be unreasonably withheld. 

        B.    The
Lessee will not make any unlawful, improper or offensive use of said premises; will not suffer any waste thereof; will not permit any objectionable noise or odor to
escape or to be emitted from said premises or do anything or permit anything to be done upon or about said premises in any way tending to create a nuisance; will not sell or permit to be sold any
spirituous, vinous or malt liquors on said premises, excepting such as Lessee may be licensed by law to sell and as may be herein expressly permitted; nor will it sell or permit to be sold any
controlled substance on or about said premises. 

        C.    The
Lessee will not allow the leased premises at any time to fall into such a state of repair or disorder as to increase the fire hazard thereon; shall not permanently
install any power machinery on said premises except under the supervision and with the written consent of the Lessor; shall not store gasoline or other highly combustible materials on said premises at
any time; will not use said premises in such a way or for such a purpose that the fire insurance rate on the building in which said premises are located is thereby increased or that would prevent the
Lessor from taking advantage of any rulings of any agency of the state in which said leased premises are situated or its successors, which would allow the Lessor to obtain reduced premium rates for
long term fire insurance policies. 

        D.    Lessee
accepts the premises in a where is, as is condition, and Lessor has no obligation to improve, repair, restore, or alter the premises. Lessee acknowledges that
neither the Lessor or any agent of Lessor has made any representation or warranty, except as otherwise expressly provided in this lease, with respect to the premises, including, without limitation,
any representation or warranty with respect to the suitability or fitness of the premises or any portion for the conduct of Lessee's business, or compliance of the premises with the Americans With
Disabilities Act of 1990, 42 U.S.C. § 12101 - 12213, as amended from time to time (the ADA). Notwithstanding the above, Landlord warrants that the HVAC,
electrical and mechanical systems are in good condition and repair as of September 1, 2004. Lessee shall comply in all material respects, at Lessee's own expense, with all laws and regulations
of any municipal, county, state, federal or other public authority respecting the use of said leased premises. Nothing herein shall require Lessee to make structural repairs or alterations to comply
with such laws and regulations unless Lessee has, by its manner of use of the demised premises or method of operation therein, violated any such laws or regulations with respect thereto, or caused the
premises to be in non-compliance. Lessee may, after securing Lessor to Lessor's reasonable satisfaction against all damages, interest, penalties and expenses, including, but not limited
to, reasonable attorney's fees, by cash deposit or by surety bond in an amount and in a company satisfactory to Lessor, contest and appeal any such laws or regulations provided same is done with all
reasonable promptness and provided such appeal shall not subject Lessor to prosecution for a criminal offense or cause the demised premises or any part thereof to be condemned or vacated. 

        Section 9.    Repairs and Improvements.    

        A.    The
Lessor shall not be required to make any repairs, alterations, additions or improvements to or upon said premises during the term of this lease, except only those
hereinafter specifically provided for; the Lessee hereby agrees to maintain and keep said leased premises including all interior and exterior doors, heating, ventilating and cooling systems, interior
wiring, plumbing fixtures and interior drain pipes in good order and repair during the entire term of this lease at Lessee's own cost and expense, and to replace all glass which may be broken or
damaged during the term hereof in the windows and doors of said premises with glass of as good or better quality as that now in use; Lessee further agrees that Lessee will make no alterations,
additions or improvements to or upon said premises without the written consent of the Lessor first being obtained. 

        B.    The
Lessor agrees to maintain in good order and repair during the term of this lease the exterior walls, roof, gutters, downspouts and foundations of the building on the
demised premises and 

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the
sidewalks thereabouts. Lessor will maintain and keep any wiring, plumbing and drain pipes outside the building, but on the demised premises, in good repair during the term of this lease, except as
such repairs are caused by the negligent acts or willful wrong doing of Lessee or agents, employees, or licensees of Lessee. It is understood and agreed that the Lessor reserves and at any and all
times shall have the right to alter, repair or improve the building, or to add thereto and for that purpose at any time may erect scaffolding and all other necessary structures about and upon the
demised premises and Lessor and Lessor's representatives, contractors and workmen for that purpose may enter in or about the said demised premises with such materials as Lessor may deem necessary
therefor, and Lessee waives any claim to damages, including loss of business resulting therefrom, provided, however, that Lessor shall use its best efforts not to interfere with the conduct and
operation of Lessee's business at the demised premises. 

        Section 10.    Lessor's Right of Entry.    It shall be lawful for the Lessor, its agents and representatives,
at any reasonable time, with twenty-four (24) hours notice, except for an emergency in which case no not ice shall be required, to enter into or upon said demised premises for the
purpose of examining into the condition thereof, or any other lawful purpose. 

        Section 11.    Utilities.    Lessee shall contract for and obtain, in its name, all utility services required
on the premises, including gas, electricity, telephone, water and sewer services, and Lessee shall pay all charges for those services as they become due. If Lessee fails to pay the charges, Lessor may
elect to pay them and the charges will then be added to the rental installment next due. Lessee shall be liable for any injury or damages to the equipment or service lines of the utility suppliers
that are located on the premises, resulting from the negligent acts or willful wrongdoing of Lessee, or the agents, employees or licensees of Lessee. 

        Section 12.    Right of Assignment.    The Lessee will not assign, transfer, pledge, hypothecate, surrender or
dispose of this lease, or any interest herein, sublet, or permit any other person or persons whomsoever to occupy the demised premises without the written consent of the Lessor being first obtained in
writing, which consent shall not be unreasonably withheld; this lease is personal to said Lessee; Lessee's interests, in whole or in part, cannot be sold, assigned, transferred, seized or taken by
operation at law, or under or by virtue of any execution or legal process, attachment or proceedings instituted against the Lessee, or under or by virtue of any bankruptcy or insolvency proceedings
had in regard to the Lessee, or in any other manner, except as above mentioned. Notwithstanding the foregoing, however, Lessee may assign this lease without Lessor's prior written consent to any
corporation, which is directly or indirectly controlled by or under common control with Lessee. 

        Section 13.    Liens.    The Lessee will not permit any lien of any kind, type or description to be placed or
imposed upon the building in which said leased premises are situated, or any part thereof, or the real
estate on which it stands, and shall discharge same within thirty (30) days after filing thereof by payment thereof or filing a bond required by law. 

        Section 14.    Ice, Snow, Debris.    At all times Lessee shall keep the sidewalks in front of the demised
premises free and clear of rubbish, debris and obstruction; and if the Lessee occupies the entire building, and Lessee will not permit rubbish, debris, ice or snow to accumulate on the roof of said
building so as to stop up or obstruct gutters or downspouts or cause damage to said roof, and will save harmless and protect the Lessor against any injury whether to Lessor or to Lessor's property or
to any other person or property caused by its failure in that regard. 

        Section 15.    Advertising Signs.    The Lessee will not use the outside walls of said premises, or allow signs
or devices of any kind to be attached thereto or suspended therefrom, for advertising or displaying the name or business of the Lessee or for any purpose whatsoever, other than in compliance with
applicable laws, regulations or ordinances. 

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        Section 16.    Liability Insurance.    The Lessee further agrees at all times during the term hereof, at
Lessee's own expense, to maintain and keep in effect, liability insurance policies in form and with an insurer reasonably satisfactory to the Lessor, insuring both the Lessor and the Lessee against
all liability for damages to person or property in or about said leased premises; the amount of said liability insurance shall not be less than two million dollars ($2,000,000.00) for injury to one
person, three million dollars ($3,000,000.00) for injuries arising out of any one accident and not less than one million dollars ($1,000,000.00) for property damage, and to furnish and deliver to the
Lessor certificates of said insurance. Lessee agrees to and shall indemnify and hold Lessor harmless against any and all claims and demands arising from the negligence of the Lessee, its officers,
agents, invitees and/or employees, as well as those arising from Lessee's failure to comply with any covenant of this lease on Lessee's part to be performed, and shall at Lessee's own expense defend
the Lessor against any and all suits or actions arising out of such negligence, actual or alleged, and all appeals therefrom and shall satisfy and discharge any judgment which may be awarded against
Lessor in any such suit or action. Notwithstanding the foregoing, Lessee may secure the insurance coverages required by this Section 16 under a blanket form of policy or policies 

        Section 17.    Fixtures.    All partitions, plumbing, electrical wiring, additions to or improvements upon said
leased premises, whether installed by the Lessor or Lessee, shall be and become a part of the building as soon as installed and the property of the Lessor unless Lessor notifies Lessee, within sixty
(60) days of the termination of this lease or any extension, to remove the same, in which case Lessee shall restore the premises to the condition existing prior to installation and repair any
damage due to such removal. Notwithstanding the foregoing, at the time of any request for approval of Lessee installed improvements, Lessee may also request that Lessor make a determination at that
time as to whether or not such improvements may remain at the termination of the lease. Lessee shall not be required to remove any improvements, which, at the time of Lessor approval, Lessor had
approved their remaining upon termination of the lease. Lessor's approval shall not be unreasonably withheld, and Lessor's
determination as to allowing improvements to remain shall be reasonable, provided however, that the parties acknowledge that Lessor may refuse any improvements, or require removal of any improvements
which detract from the operation of the premises as a multi-tenant facility. Nothing in this section shall be construed to give Lessor title to or to prevent Lessee's removal of business or trade
fixtures, machinery and equipment, moveable office furniture and equipment, but upon removal of any such items from the premises, Lessee shall immediately and at its expense, repair and restore the
premises to the condition existing prior to installation and repair any damage to the demised premises due to such removal. 

        Section 18.    Casualty & Fire Damage; Duty to Repair.    

        A.    In
the event of the total destruction of the building (defined as destruction of ninety percent (90%) or more of the building) in which said leased premises are located
by fire or other casualty, either party hereto may terminate this lease as of the date of said fire or casualty. 

        In
the event of partial damage to the building, the Lessor shall have the option to terminate the lease or to repair the building. If notice to repair is not given to Lessee within
twenty (20) days of the damage, Lessor conclusively shall be deemed to have elected not to repair. In the event Lessor elects or is deemed not to repair said building, then and in that event
this lease shall terminate with the date of said damage. If Lessor elects to repair as aforesaid, then the Lessor shall repair said building with all convenient speed and shall have the right to take
possession of and occupy, to the exclusion of the Lessee, all or any part of said building in order to make the necessary repairs, and the Lessee hereby agrees to vacate upon request, all or any part
of said building which the Lessor may require for the purpose of making necessary repairs. For the period of time between the day of such damage and until such repairs have been substantially
completed there shall be such an abatement of rent as the nature of the injury or damage and its interference with the occupancy of said leased premises by said Lessee shall warrant; however, if the
premises be but slightly injured and the damage so occasioned shall not 

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cause
any material interference with the occupation of the premises by said Lessee, then there shall be no abatement of rent and the Lessor shall repair said damage with all convenient speed. 

        B.    In
the event Lessor elects to repair under Section 18 A above, and such casualty and repairs have caused the Lessee to have vacated the premises for more than one
hundred twenty (120) days, or if Lessor is not able to determine, such determination to be made in good faith, that Lessee will be in occupancy on or within one hundred twenty (120) days
of such casualty, then, Lessee, at Lessee's option, may elect to terminate this lease. 

        Section 19.    Waiver of Subrogation Rights.    Neither the Lessor nor the Lessee shall be liable to the other
for loss arising out of damage to or destruction of the leased premises, or the building or improvement of
which the leased premises are a part or with which they are connected, or the contents of any thereof, when such loss is caused by any of the perils which are or could be included within or insured
against by a standard form of fire insurance with extended coverage. All such claims for any and all loss, however caused, hereby are waived. Such absence of liability shall exist whether or not the
damage or destruction is caused by the negligence of either Lessor or Lessee or by any of their respective agents, servants or employees. It is the intention and lease of the Lessor and the Lessee
that the rentals reserved by this lease have been fixed in contemplation that each party shall fully provide its own insurance protection at its own expense, and that each party shall look to its
respective insurance carriers for reimbursement of any such loss, and further, that the insurance carriers involved shall not be entitled to subrogation under any circumstances against any party to
this lease. Neither the Lessor nor the Lessee shall have any interest or claim in the other's insurance policy or policies, or the proceeds thereof, unless specifically covered therein as a joint
assured. Both parties shall give notice to their respective insurance carriers of this provision. 

        Section 20.    Eminent Domain.    In case of the condemnation or appropriation of all or any substantial part
of the said demised premises by any public or private corporation under the laws of eminent domain, this lease may be terminated at the option of either party hereto on thirty (30) days'
written notice to the other and in that case the Lessee shall not be liable for any rent after the date of Lessee's removal from the premises. Notwithstanding the above, Lessee may make its own claim
against the condemning authority based on the Lessee's leasehold interest in the premises. 

        Section 21.    Signage.    During the period of one hundred twenty (120) days prior to the date above
fixed for the termination of this lease, the Lessor herein may post on said premises or in the windows thereof signs of moderate size notifying the public that the premises are "for sale" or "for
lease." 

        Section 22.    Premises on Termination.    At the expiration of said term or upon any sooner termination
thereof, the Lessee will quit and deliver up said leased premises and all future erections or additions to or upon the same, broom-clean, to the Lessor or those having Lessor's estate in the premises,
peaceably, quietly, and in as good order and condition, reasonable use and wear thereof, damage by fire, unavoidable casualty and the elements alone excepted, as the same are now in or hereafter may
be put in by the Lessor. 

        Section 23.    Environmental Matters.    

        A.    Environmental Warranties.    Notwithstanding any other provision of this lease, Lessee's use of the subject real
property is expressly subject to the condition precedent that Lessee comply with the warranties, representations and covenants set forth in this section. Lessee warrants, represents and covenants as
follows: 

        (1)   Lessee
shall conduct no activity or allow to be conducted any activity or use of the property which would result in the presence of any "Hazardous Materials" or any
"Hazardous Materials Contamination" on the property; 

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        (a)   "Hazardous
Materials" means (a) any "hazardous waste" as defined by the Resource Conservation and Recovery Act of 1976 (42 U.S.C. § 6901, et seq.), as
amended from time to time, and regulations promulgated thereunder; (b) any "hazardous substance" as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980
(42 U.S.C. § 9601, et seq.), as amended from time to time, and regulations promulgated thereunder; (c) radon and material quantities of petroleum products; (d) any substance
the presence of which on the property is regulated by any federal, state or local law relating to the protection of the environment or public health; and (e) any other substance which by law
requires special handling in its collection, storage, treatment or disposal. 

        (b)   "Hazardous
Materials Contamination" means the contamination occurring after the date hereof of the improvements, facilities, soil, ground water, surface water, air or
other elements on or under the property by Hazardous Materials, or the contamination occurring after the date hereof of the buildings, facilities, soil, ground water, surface water, air or other
elements on or under any other property as a result of Hazardous Materials emanating from the property. 

        (2)   Lessee
will obtain all necessary federal, state and local environmental permits necessary for its business and use of the property; 

        (3)   Lessee
will at all times be in compliance, in all material respects, with the terms and conditions of its environmental permits; 

        (4)   Lessee
will be in compliance, in all material respects, with all applicable federal, state and local environmental statutory and regulatory requirements, other than
those contained in its permits; 

        (5)   There
are no pending environmental civil, criminal or administrative proceedings against Lessee, which will affect the leased premises; 

        (6)   Lessee
knows of no threatened civil, criminal or administrative proceedings against it relating to environmental matters, which will affect the leased premises; 

        (7)   Lessee
knows of no fact or circumstances that may give rise to any future civil, criminal or administrative proceedings against it relating to environmental matters,
which will affect the leased premises. 

        B.    Indemnification.    

        (1)   Lessee
agrees to indemnify, defend, reimburse and hold harmless the following persons from and against any and all "Environmental Damages" arising from activities of
Lessee or its employees, agents, or invitees which (a) result in the presence of "Hazardous Materials" upon, about or beneath the premises or migrating to or from the premises, or
(b) result in the violation of any "Environmental Requirements" pertaining to the premises and the activities thereon: 

        (a)   Lessor; 

        (b)   any
other person who acquires a portion of the premises in any manner, including but not limited to through purchase, at a foreclosure sale or otherwise through the
exercise of the rights and remedies of Lessor under this Lease; and 

        (c)   the
directors, officers, shareholders, employees, partners, agents, contractors, subcontractors, experts, licensees, affiliates, lessees, mortgagees, trustees, heirs,
devisees, successors, assigns and invitees of such persons. 

        (2)   "Environmental
Damages" means all claims, judgments, injuries, actual damages, losses, penalties, fines, liabilities (including strict liability), encumbrances, liens,
costs, and expenses of 

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investigation
and defense of any claim, and of any settlement of judgment subject to the provisions of Section 24 (5) below, of whatever kind or nature, contingent or otherwise, matured
or unmatured, foreseeable or unforeseeable, including, without limitation, reasonable attorneys' fees and disbursements and consultants' fees, but excluding consequential damages, any of which are
incurred at any time as a result of the existence of "Hazardous Material" upon, about, beneath the premises or migrating or threatening to migrate to or from the premises or the existence of a
violation of "Environmental Requirements" pertaining to the premises. 

        (3)   "Environmental
Requirements" means all applicable present and future statutes, regulations, rules, ordinances, codes, licenses, permits, orders, approvals, plans,
authorization, concessions, franchises, and similar items, of all governmental agencies, departments, commissions, boards, bureaus, or
instrumentalities, of the United States, states and political subdivisions thereof, and all applicable judicial, administrative, and regulatory decrees, judgments, and orders relating to the
protection of human health or the environment. 

        (4)   This
obligation shall include, but not be limited to, the burden and expense of defending all claims, suits and administrative proceedings (with counsel reasonably
approved by the indemnified parties), and conducting all negotiations of any description, and paying and discharging, when and as the same become due, any and all judgments, penalties or other sums
due against such indemnified persons. Lessor, at its sole expense, may employ additional counsel of its choice to associate with counsel representing Lessee. 

        (5)   If
Lessee or any indemnified party shall become aware of or receive notice or other communication concerning any actual, alleged, suspected or threatened violation of
"Environmental Requirements," or liability of Lessee for "Environmental Damages" in connection with the premises or past or present activities of any person thereon, or that any representation set
forth in this Section 23 is not or is no longer accurate, then such party shall deliver to the other party, within ten (10) days of the receipt of such notice, or communication or
correcting information by Lessee, a written description of such information or condition, together with copies of any documents evidencing same. Any indemnified party shall cooperate with Lessee and
Lessee shall not be required to indemnify any indemnified party for any settlement entered into without the prior consent of the Lessee, which consent may not be unreasonably withheld. 

        (6)   Lessor
shall have the right in its sole and absolute discretion, but not the duty, to enter and conduct an inspection of the premises at any reasonable time, with
reasonable notice, to determine whether Lessee is complying with the terms of this Lease, with respect to "Environmental Requirements" and the existence of "Environmental Damages." Lessee hereby
grants to Lessor the right to enter the premises and to perform such tests on the premises as are reasonably necessary in the opinion of Lessor to conduct such reviews and investigations. Lessor shall
use its best efforts to minimize interference with the business of Lessee but Lessor shall not be liable for any interference caused thereby. 

        (7)   Should
Lessee fail to perform or observe any of its obligations or leases pertaining to "Hazardous Materials" or "Environmental Requirements," then Lessor shall have the
right, but not the duty, without limitation upon any of the rights of Lessor pursuant to this lease, to enter the premises personally or through its agents, consultants or contractors and perform the
same. Lessee agrees to indemnify Lessor for the costs thereof and liabilities therefrom as set forth in Section B above. 

        Section 24.    Survival.    Lessor and Lessee agree that the provisions of Section 23 of this lease
shall survive the termination and/or expiration of this lease. 

        Section 25.    Quiet Enjoyment.    Lessor warrants and represents that Lessor is the owner of the leased
premises, has full authority and right to lease the premises and enter into this lease. Lessor will 

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defend
Lessee's right to quiet enjoyment of the leased premises from the claims of all persons during the lease term. 

        Section 26.    Good Faith.    The parties hereto covenant, warrant and represent to each other good faith,
complete cooperation, due diligence and honesty in fact in the performance of all obligations of the parties pursuant to this lease. All promises and covenants are mutual and dependent. 

        Section 27.    Attachment, Bankrupt, Default.    

        A.    The
Lessor or those having Lessor's estate in the premises, may terminate this lease and, lawfully, at Lessor's or their option immediately or at any time thereafter,
without demand or notice, may enter into and upon said demised premises and every part thereof and repossess the same as of Lessor's former estate, and expel said Lessee and those claiming by, through
and under Lessee and remove Lessee's effects at Lessee's expense, forcibly if necessary and store the same, all without being deemed guilty of trespass and without prejudice to any remedy which
otherwise might be used for arrears of rent or preceding breach of covenant if (i) the Lessee shall be in arrears in the payment of said rent for a period of ten (10) days after notice
of arrearage is given to Lessee; (ii) the Lessee shall fail or neglect to do, keep, perform or observe any of the covenants and leases contained herein on Lessee's part to be done, kept,
performed and observed and such default shall continue for ten (10) days or more after written notice of such failure or neglect shall be given to Lessee, or if such failure cannot be cured
within such ten (10) day period, if, within such 10 day period, Lessee has not commenced and is not diligently pursuing such cure; (iii) the Lessee shall be declared bankrupt or
insolvent according to law; (iv) any assignment of Lessee's property shall be made for the benefit of creditors; or (v) on the expiration of this lease Lessee fails to surrender
possession of said leased premises. 

        B.    Neither
the termination of this lease by forfeiture nor the taking or recovery of possession of the premises shall deprive Lessor of any other action, right or remedy
against Lessee for possession, rent or damages, nor shall any omission by Lessor to enforce any forfeiture, right or remedy to which Lessor may be entitled be deemed a waiver by Lessor of the right to
enforce the performance of all terms and conditions of this lease by Lessee. 

        C.    In
the event of any re-entry by Lessor, Lessor may lease or relet the premises in whole or in part to any tenant or tenants who may be satisfactory to Lessor,
for any duration, and for the best rent, terms and conditions as Lessor may reasonably obtain. Lessor shall apply the rent received from any new tenant first to the cost of retaking and reletting the
premises, including remodeling required to obtain any new tenant, and then to any arrears of rent and future rent payable under this lease and any other damages to which Lessor may be entitled
hereunder. 

        D.    Any
property which Lessee leaves on the premises after abandonment or expiration of the lease, or for more than thirty (30) days after any termination of the lease
by Lessor, shall be deemed to have been abandoned, and Lessor may remove and sell said property at public or private sale as Lessor sees fit, without being liable for any prosecution therefor or for
damages by reason thereof, and the net proceeds of said sale shall be applied toward the expenses of Lessor and rent as aforesaid, and the balance of such amounts, if any, shall be held for and paid
to the Lessee. 

        Section 28.    Holding Over.    In the event the Lessee for any reason shall hold over after the expiration of
this lease, such holding over shall not be deemed to operate as a renewal or extension of this lease, but shall only create a tenancy from month to month at a basic rental rate equal to one hundred
fifty percent (150%) of the prior rent, which may be terminated at will at any time by the Lessor. 

        Section 29.    Default by Lessor.    If at any time during the term Lessor shall fail to: (i) perform
any of its obligations under this lease, (ii) make any payments required of it pursuant to this lease, or 

9

 

(iii) make
any mortgage, ground rent or other required payments on the land, building or premises, then in any of such events, Lessee may: 

        A.    If
any such failure shall continue for a period of ten (10) consecutive business days after Lessee gives written notice thereof to Lessor, perform such obligations
and/or make such payments and deduct the cost thereof from the rent; and 

        B.    If
any such failure shall cause disruption in Lessee's normal business operations being conducted on the premises for a period of ten (10) consecutive business
days after Lessee gives written notice thereof to Lessor, abate the rent for the period of such disruption; and 

        C.    If
any such failure prohibits Lessee from conducting its normal business operations on the premises for a period of thirty (30) consecutive days after Lessee gives
written notice thereof to Lessor, terminate this lease; and 

        D.    Exercise
any and all other rights and remedies available to Lessee at law or in equity. 

        Section 30.    Waiver.    Any waiver by the Lessor of any breach of any covenant herein contained to be kept
and performed by the Lessee shall not be deemed or considered as a continuing waiver, and shall not
operate to bar or prevent the Lessor from declaring a forfeiture for any succeeding breach, either of the same condition or covenant or otherwise. 

        Section 31.    Notices.    Notice under this lease shall be in writing and shall be effective when actually
delivered. If mailed, notice shall be deemed effective 48 hours after mailing as registered or certified mail, postage prepaid, directed to the other party at the address set forth below or
such other address as the party may indicate by written notice to the other: 

	 	 	Lessor:	 	6955 Cordwood Ct

Boulder, CO 80301
	

 	
 	

Lessee:	
 	

6273 Monarch Park Place

Niwot, CO 80503

        Section 32.    Governing Law.    This lease shall be governed by and construed in accordance with the laws of
the State of Colorado. 

        Section 33.    Attorney Fees.    In the event of an arbitration, suit or action is brought by any party under
this lease to enforce any of its terms, or in any appeal therefrom, it is agreed that the prevailing party shall be entitled to reasonable attorneys fees to be fixed by the arbitrator, trial court,
and/or appellate court. 

        Section 34.    Titles and Captions.    All article, section and paragraph titles or captions contained in this
lease are for convenience only and shall not be deemed part of the context nor affect the interpretation of this lease. 

        Section 35.    Lease Binding.    This lease shall be binding upon the heirs, executors, administrators,
successors and assigns of the parties hereto. 

        Section 36.    Further Action.    The parties hereto shall execute and deliver all documents, provide all
information and take or forbear from all such action as may be necessary or appropriate to achieve the purposes of this lease. 

        Section 37.    Savings Clause.    If any provision of this lease, or the application of such provision to any
person or circumstance, shall be held invalid, the remainder of this lease, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not
be affected thereby. 

10

 

        Section 38.    Waiver of Trial by Jury.    It is mutually agreed by and between Lessor and Lessee that the
respective parties hereto shall and they hereby do waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other (except for personal injury
or property damage) on any matters whatsoever arising out of or in any way connected with this lease, the relationship of Lessor and Lessee and Lessee's use of or occupancy of said premises. 

        IN
WITNESS WHEREOF, the parties hereto have executed this lease as of this 26th day of December, 2004. 

	 	 	LESSOR:
	
 	
 	

DiiG, LLP
	

 	
 	

By:	

/s/  CARL J. VERTUCA, JR.      
	 	 	 	
 Carl R. Vertuca, Jr., Partner
	

 	
 	
LESSEE:
	
 	
 	

WESTERN BRANDS, LLC
	

 	
 	

By:	

/s/  RONALD SNYDER      
	 	 	 	
 Ronald Snyder, Manager/President

11

QuickLinks

Exhibit 10.10

COMMERCIAL LEASEQuickLinks
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Exhibit 10.11    
    

 
 

SUBLEASE    
    

by and between  

Flextronics USA, Inc.

a Delaware corporation  

("Sublessor")  

and  

Crocs, Inc.

a Colorado corporation  

("Sublessee")  

for improved real property at  

6268 Monarch Park Place

Niwot, Colorado  

 
  
 

    SUBLEASE    
    

        THIS SUBLEASE is made and entered into as of the 19th day of May, 2005, by and between Flextronics USA, Inc., a Delaware corporation ("Sublessor") and
Crocs, Inc., a Colorado corporation ("Sublessee"). 

 
 

WITNESSETH:    
    

        In consideration of the rents reserved and the covenants and conditions set forth herein, Sublessor and Sublessee agree as follows: 

A.    FUNDAMENTAL SUBLEASE TERMS.  

        i.    Parties.    

Sublessor:
Flextronics USA, Inc.

Sublessee: Crocs, Inc. 

        ii.    Sublease Premises (Section 1).    

The
building comprising approximately 37,250 rentable square feet of space, located at 6268 Monarch Park Place, Niwot, Colorado. 

        iii.    Term (Section 3).    

Commencement
Date: June 1, 2005

Termination Date: March 31, 2007

Extension Terms: None. 

        iv.    Base Rent (Section 6).    

	Months
 
	 	Monthly Rent per Sq.Ft.
	 	Annualized Base Rent

	1 - 12	 	$	13,037.50	 	$	156,450.00
	13 - 22	 	$	13,447.25	 	$	161,367.00

        v.    Addresses    

Sublessor:

Flextronics
International USA, Inc.

2090 Fortune Drive

San Jose, California 95131

Attn: Mr. Michael Carney 

With
a copy to: 

Robins,
Kaplan, Miller & Ciresi L.L.P.

800 Boylston Street

25th Floor

Boston, MA 02199-7610

Attn: Mark S. LaConte, Esq. 

Sublessee:

Crocs, Inc.

6273 Monarch Park Place

Niwot, Colorado 80503

Attn: President

Attn: General Counsel 

2

 

1.     THE SUBLEASE PREMISES.  

        Subject to the terms and conditions of this Sublease, Sublessor leases to Sublessee and Sublessee rents from Sublessor the building located at 6268 Monarch Park
Place, Niwot, Colorado (the "Building") consisting of approximately 37,250 square feet of rentable space (the "Sublease Premises"), together
with the non-exclusive right to use the common areas and facilities appurtenant thereto. The Building is located within the Real Property (as hereinafter defined). 

2.     MASTER LEASE.  

        Reference is made to that certain Lease dated as of January 17, 1997 (the "Building Lease"), by and between 1227 Spruce Street Company, LLP (the
"Master Lessor"), as lessor, and DTM Products, Inc. (predecessor to Sublessor), as lessee, with respect to the real property upon which the Building is located (the "Real Property"). 

        Except
for payment of Base Rent and as otherwise provided herein, Sublessee shall be responsible for and shall perform all obligations of Sublessor under the Building Lease which relate
to the Sublease Premises, the Building and/or the Real Property. This Sublease is a sublease under the Building Lease and is subject and subordinate to the terms and conditions of the Building Lease.
Neither Sublessee nor its agents, contractors or invitees shall cause or suffer any act or omission which would result in a default under the Building Lease. Notwithstanding anything to the contrary
herein contained, this Sublease shall terminate upon the expiration or earlier termination of the Building Lease. 

        Sublessee
shall pay any documented administrative fees charged by the Master Lessor in connection with this Sublease or any other document executed in connection herewith. 

3.     SUBLEASE TERM.  

        The term of this Sublease (the "Sublease Term") shall commence on June 1, 2005 (the "Commencement Date") and shall expire on March 31, 2007, unless
sooner terminated or extended as provided herein. 

        Notwithstanding
the foregoing, upon the execution hereof Sublessee shall have the right to access the Sublease Premises solely for the purpose of preparing the Premises for Sublessee's
business operations and storage of Sublessee's inventory, provided that Sublessee shall not occupy the Sublease Premises until the Commencement Date. 

4.     USE OF PREMISES.  

        Sublessee shall use the Sublease Premises solely for the uses set forth in the Building Lease. Sublessor shall be allowed to store certain personal property and
equipment in the Sublease Premises if Sublessor shall not be completely moved out of the Sublease Premises by the Commencement Date, provided that Sublessee shall be allowed a pro rata rent credit
(based on square footage used) for any space that is so used by Sublessor. Sublessee shall have the right to use the warehouse storage racks currently located within the Sublease Premises. 

5.     DELIVERY OF THE SUBLEASE PREMISES; SUBLESSEE'S WORK.  

        A.    Condition of Sublease Premises.    

	(1)
	On
the Commencement Date, Sublessor shall deliver possession of the Sublease Premises to Sublessee in an "AS IS" and with all faults condition, except that the Sublease Premises shall
be broom clean. 

3

 

	(2)
	BY
EXECUTION OF THIS SUBLEASE, SUBLESSEE ACKNOWLEDGES AND AGREES THAT IT HAS INSPECTED OR BEEN AFFORDED THE OPPORTUNITY TO INSPECT THE SUBLEASE PREMISES AND SHALL ACCEPT THE SUBLEASE
PREMISES ON THE COMMENCEMENT DATE IN ITS THEN "AS IS" AND "WHERE IS" CONDITION. SUBLESSEE ACKNOWLEDGES AND AGREES THAT NEITHER SUBLESSOR NOR ITS AGENTS OR EMPLOYEES HAS MADE ANY EXPRESS WARRANTY OR
REPRESENTATION REGARDING THE CONDITION OF THE SUBLEASE PREMISES, THE QUALITY OF MATERIAL OR WORKMANSHIP OF THE SUBLEASE PREMISES, LATENT OR PATENT, OR THE FITNESS OF THE SUBLEASE PREMISES FOR ANY
PARTICULAR USE OR PURPOSE AND THAT NO SUCH WARRANTY OR REPRESENTATION SHALL BE IMPLIED BY LAW, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY SUBLESSEE.

	(3)
	SUBLESSOR
MAKES NO REPRESENTATIONS WITH RESPECT TO THE NECESSITY (OR LACK OF NECESSITY) FOR OR AVAILABILITY OF ANY PERMITS, LICENSES, OR OTHER GOVERNMENTAL AUTHORIZATIONS IN ORDER TO
MODIFY, ALTER OR CHANGE THE SUBLEASE PREMISES OR TO OPERATE THE SUBLEASE PREMISES FOR THE USES INTENDED BY SUBLESSEE, IT BEING AGREED THAT, ALL SUCH RISKS ARE TO BE BORNE BY SUBLESSEE. 

        B.    Sublessee's Work.    

        Sublessee
shall be responsible, at its sole cost, to obtain, perform and pay for all work necessary or desirable to repair and alter and otherwise make fit the Sublease Premises for its
intended use (collectively, "Sublessee's Work"), provided, however, that (i) all plans and specifications for Sublessee's Work shall first be approved by Sublessor and Master Lessor; and
(ii) upon the termination and/or expiration of this Sublease, Sublessee shall, at its own expense, restore the Sublease Premises to the condition that it was in on the Commencement Date and
remove all signage erected by or for the benefit of Sublessee. 

	(2)
	Sublessee
agrees that, within thirty (30) days after notice thereof, it shall remove and discharge, at its expense, any charge, lien, security interest or encumbrance upon the
Sublease Premises, the Building, or the Real Property, which arises out of the construction, repair or rebuilding of the Sublease Premises or by reason of labor or materials furnished or claimed to
have been furnished to Sublessee, its subtenants or licensees, or for the Sublease Premises.

	(3)
	In
performing any work on, to or for the Sublease Premises, Sublessee shall: (i) perform all aspects of such work in an expeditious manner and in a good and workmanlike
condition in accordance with applicable law and the approved plans and specifications therefor; and (ii) at its cost, obtain all permits and approvals necessary to commence and complete such
work and to comply with applicable law and any provisions of the Building Lease relating thereto. 

6.     RENT.  

        Commencing on the Commencement Date, Sublessee hereby covenants and agrees to pay Sublessor as Base Rent for the Sublease Premises the amounts set forth in
Section A.iv. of the Fundamental Sublease Terms hereof. 

        All
other sums payable hereunder shall be deemed additional rent (collectively, the "Additional Rent"). From and after the Commencement Date, Sublessee shall pay to Sublessor all
Additional Rent. 

4

 

        Base
Rent and Additional Rent shall be payable in advance and without demand on the first (1st) day of each and every calendar month during the entire Sublease Term. Base Rent and
Additional Rent shall be prorated for any partial month at the beginning or end of the Sublease Term. Sublessee shall pay rent to Sublessor at the address provided for Sublessor in Section A.v.
of the Fundamental Sublease Terms hereof, unless otherwise designated by Sublessor. 

        No
payment by Sublessee or receipt by Sublessor of a lesser amount than the Base Rent or Additional Rent shall be deemed to be other than on account of the earliest stipulated rent, nor
shall any endorsement or statement on any check or any letter accompanying any check or payment as rent be deemed an accord and satisfaction, and Sublessor shall accept such check or payment without
prejudice to Sublessor's right to recover the balance of such Base Rent and Additional Rent or pursue any other remedy provided in this Sublease. 

7.     INCORPORATION OF BUILDING LEASE.  

        To the extent applicable to the Sublease Premises and subject to the provisions hereof, the terms and provisions of the Building Lease are hereby incorporated
into this Sublease, and this Sublease shall be deemed to contain all of such terms and provisions mutatis mutandis (the necessary changes being made to
reflect that "Landlord" is the Sublessor, "Tenant" is the Sublessee, "Leased Premises" or "Premises" are the Sublease Premises, and the "Lease Term" is the Sublease Term); provided, however, that the
following provisions of the Building Lease shall not apply hereto: Article I; Article II; clauses (a), (d) and (e) of Article III; Article IV;
Article V to the extent Taxes due or payable are attributable to any period other than the term of this Sublease; Article IX; Article X; Article XVII; and all Addendums to
the Building Lease. 

        To
the extent incorporated into this Sublease, Sublessee shall perform the obligations of the Sublessor as tenant under the Building Lease, with respect to the Sublease Premises,
Building and the Real Property. Notwithstanding any other provision of this Sublease, Sublessor, as sublandlord under this Sublease, shall have the benefit of all rights, remedies and limitations of
liability enjoyed by Master Lessor, as the landlord under the Building Lease, but (i) Sublessor shall have no obligations under this Sublease to perform the covenants or obligations of Master
Lessor, as landlord under the Building Lease, including without limitation any obligation to maintain and/or repair the Sublease Premises, Building, or Real Property, to construct improvements, or to
provide services or maintain insurance, and Sublessee agrees that it shall seek such performance and obtain such services solely from Master Lessor; (ii) Sublessor shall not be bound by any
representations or warranties of Master Lessor under
the Building Lease; (iii) in any instance where the consent of Master Lessor is required under the terms of the Building Lease, the consent of Sublessor and Master Lessor shall be required; and
(iv) Sublessor shall not be liable to Sublessee for any failure or delay in Master Lessor's performance of its obligations, as landlord under the Building Lease. Upon request of Sublessee,
Sublessor shall, at Sublessee's expense, use reasonable efforts to cause Master Lessor to perform its obligations under the Building Lease. 

        Notwithstanding
any contrary provision of this Sublease, (i) in any instances where Master Lessor, as landlord under the Building Lease, has a certain period of time in which to
notify Sublessor, as tenant under the Lease, whether Master Lessor will or will not take some action, Sublessor, as landlord under this Sublease, shall have an additional two business day period after
receiving such notice in which to notify Sublessee, (ii) in any instance where Sublessor, as tenant under the Building Lease, has a certain period of time in which to notify Master Lessor, as
landlord under the Building Lease, whether Sublessor will or will not take some action, Sublessee, as tenant under this Sublease, must notify Sublessor, as landlord under this Sublease, at least two
business days before the end of such period, but in no event shall Sublessee have a period of less than five business days in which so to notify Sublessor unless the period under the Building Lease is
five business days or less, in which case the period under this Sublease shall be one day less than the period provided to Sublessor under the 

5

 

Building
Lease, but not less than two (2) business days, (iii) in any instance where a specific grace period is granted to Sublessor, as tenant under the Lease, before Sublessor is
considered in default under the Building Lease, Sublessee, as tenant under this Sublease, shall be deemed to have a grace period which is two business days less than Sublessor before Sublessee is
considered in default under this Sublease, but in no event shall any grace period be reduced to less than five business days unless the period under the Building Lease is five business days or less,
in which case the period under this Sublease shall be one day less than the period provided to Sublessor under the Building Lease but not less than two (2) business days, and (iv) in the
event of any inconsistency between the terms of the Building Lease, as incorporated herein by reference, and the express terms of this Sublease, the express terms of this Sublease shall prevail. 

        In
no event shall Sublessee be liable to Sublessor or Master Lessor for any obligation, covenant or breach thereof of the Tenant under the Building Lease if such obligation, covenant or
breach thereof is primarily related to, or set forth in one of the excluded provisions listed in this Section 7 of the Sublease, except as may be herein provided. 

8.     UTILITIES.  

        Sublessee shall pay before delinquency all charges for water, gas, heat, electricity, power, telephone services, and all other services of utilities used in,
upon, or about the Sublease Premises or the Real Property by Sublessee or any of its subtenants, licensees, or concessionaires during the Sublease Term. If any utility is not separately metered,
Sublessee agrees to reimburse Sublessor for the cost of said
service on a pro-rata basis. Sublessor shall not be liable in damages or otherwise if the furnishings by any supplier of any utility service or other service to the Sublease Premises shall
be interrupted or impaired by fire, accident, riot, strike, act of God, the making of necessary repairs or improvements or by any causes beyond Sublessor's control, should it become necessary or
desirable because of recommendations or directives of public authorities to reduce its energy consumption in accordance with reasonable, uniform and non-discriminatory standards
established by Sublessor. 

9.     PAYMENTS TO MASTER LESSOR AND OTHER PARTIES.  

        Sublessor and Sublessee acknowledge and agree that Sublessor is making payments under the Building Lease to Master Lessor and other parties with respect to real
estate taxes, municipal assessments, operating expenses, repair and maintenance costs, insurance premiums, and other costs and charges with respect to the Building and/or the Real Property
(collectively, the "Building Lease Payments"). Sublessee shall be responsible for the payment of all of the Building Lease Payments, excluding Base Rent under the Building Lease, and shall make such
payments either to Sublessor or directly to Master Lessor or other third parties, as may be directed by Sublessor from time to time. Sublessee shall have the sole responsibility for all standard
maintenance, repairs and replacements, at its sole cost and expense, as set forth in Article VIII of the Building Lease, except that (i) Sublessee shall have no responsibility for
replacement of the structural elements of the Building, the roof membrane, the foundation, the exterior walls, the bearing walls, or the subflooring; (ii) in the event of any other replacement
having a cost which, under generally accepted accounting principles, must be capitalized and not expensed, Sublessee shall be responsible for paying only its pro-rata share of such cost,
based upon the useful life of the applicable item and the remaining term of this Sublease; and (iii) Sublessor shall engage third party contractors to inspect and maintain the roof and HVAC
systems on a regular, periodic basis, and Sublessee shall reimburse Sublessor for such costs within thirty days of request by Sublessor for such reimbursement. 

10.   INSURANCE.  

        Sublessee shall maintain (i) insurance of such types, in such policies, with such endorsements and coverages, and in such amounts as are set forth in
Article VI of the Building Lease and (ii) such 

6

 

additional
insurance as may be required by Sublessor, in Sublessor's reasonable discretion. All insurance policies (except those relating to Sublessor's personal property) shall name as additional
insureds and loss payees Sublessor and the parties required to be so named in Article VI of the Building Lease. Such insurance shall contain a provision that Sublessor, although named as an
additional insured, shall nonetheless be entitled to recovery under said policy for any loss occasioned to it, its servants, agents, and employees by reason of the negligence of Sublessee or
Sublessee's agents, servants, or employees. Such insurance shall also contain an endorsement that such policies may not be modified or canceled without 30 days prior written notice to all named
insureds. Sublessee shall promptly pay all insurance premiums and shall provide Sublessor with policies or certificates evidencing such insurance prior to entering the Sublease Premises. 

11.   NOTICES.  

        Any notice or consent required to be given by or on behalf of either party to the other shall be in writing and given by mailing such notice or consent by
registered or certified mail, return receipt requested, addressed to the other party as indicated in Section A(v) of the Fundamental Sublease Terms hereof, or at such other address as
may be specified from time to time in writing by either party. Any notice or consent given hereunder by either party shall be deemed effective when mailed as aforesaid, but the time period in which to
respond to any notice or consent shall commence to run on the date on which such notice or consent is actually received by the addressee. Refusal to accept delivery shall be deemed receipt thereof. 

12.   HAZARDOUS SUBSTANCES.  

	A.
	Sublessee, its agents, employees, or contractors shall not (i) cause or permit any Hazardous Materials (hereinafter defined) to
be brought upon, stored, used or disposed on, in or about the Real Property in violation of applicable law, or (ii) permit the release, discharge, spill or emission of any substance considered
to be a Hazardous Material from or into the Real Property in violation of applicable law.

	B.
	Any Hazardous Materials permitted by Sublessor, all containers therefor, and all materials that have been contaminated by Hazardous
Materials shall be used, kept, stored and disposed of by Sublessee in a manner that shall in all respects comply with all applicable federal, state and local laws, ordinances, regulations and
standards.

	C.
	Sublessee hereby agrees that it is and shall be fully responsible for all costs, expenses, damages or liabilities (including, but not
limited to those incurred by Sublessor and/or its mortgagee) which may occur from the use, storage disposal, release, spill, discharge or emissions of Hazardous Materials by Sublessee. Sublessee shall
defend, indemnify and hold harmless Sublessor, Master Lessor, their mortgagees and agents from and against any claims, demands, administrative orders, judicial orders, penalties, fines, liabilities,
settlements, damages, costs or expenses (including, without limitation, reasonable attorney and consultant fees, court costs and litigation expenses) of whatever kind or nature, known or unknown,
contingent or otherwise, arising out of Sublessee's failure to comply with any provision of this Section. The provisions of this Section shall be in addition to any other obligations and liabilities
Sublessee may have to Sublessor at law or in equity and shall survive the transactions contemplated herein or any termination of this Sublease. 

7

  

	D.
	As used in this Sublease, the term "Hazardous Materials" shall include, without limitation:

	(1)
	Those
substances included within the definitions of "hazardous substances", "hazardous materials," toxic substances," or "solid waste" in the Comprehensive Environmental Response
Compensation and Liability Act of 1980 (42 U.S.C. §9601 et seq.) ("CERCLA"), as amended by Superfund Amendments and Reauthorization Act of
1986 ("SARA"), the Resource Conservation and Recovery Act of 1976 ("RCRA"), and the Hazardous Materials Transportation Act, and in the regulations promulgated pursuant to said laws, all as amended;

	(2)
	Those
substances listed in the United States Department of Transportation Table (49 CFR 172.101 and amendments thereto) or by the Environmental Protection Agency (of any successor
agency) as hazardous substances (40 CFR Part 302 and amendments thereto);

	(3)
	Any
material, waste or substance which is (A) petroleum, (B) asbestos, (C) polychlorinated biphenyls, (D) designated as a "hazardous substance" pursuant to
Section 311 of the Clean Water Act, 33 U.S.C. §1251 et seq. (33 U.S.C. §1321) or listed pursuant to Section of the Clean
Water Act (33 U.S.C. §1317); (E) flammable explosives; or (F) radioactive materials;

	(4)
	Those
substances regulated pursuant to applicable federal, state or local law; and in the regulations promulgated pursuant to said laws, all as amended; and

	(5)
	Such
other substances, materials and wastes which are or become regulated as hazardous or toxic under applicable local, state or federal law, or the United States government, or which
are classified as hazardous or toxic under federal, state, or local laws or regulations. 

13.   BROKERAGE.  

        Sublessor and Sublessee each represents and warrants to the other that there is no obligation to pay any brokerage fee, commission, finder's fee or other similar
charge in connection with this Sublease, other than a brokerage fee to Commercial Property Services (the "Brokers"), and that neither has directly or indirectly communicated with any real estate agent
or broker in connection with the Sublease Premises, other than the Brokers. Each party covenants that it will defend, indemnify and hold harmless the other party from and against any loss or liability
by reason of brokerage or similar services alleged to have been rendered to, at the instance of, or agreed upon by said indemnifying party, other than the Brokers. Sublessor shall pay the brokerage
fees of the Brokers pursuant to a separate written instrument. 

14.   PARKING.  

        Sublessee and Sublessee's designees shall have the right to use the parking spaces currently located on the Real Property. Sublessee shall have the right to use
signage currently or formerly used by Sublessor, provided that all such use shall be in compliance with applicable laws and the Building Lease. 

15.   CONDITION PRECEDENT.  

        This Sublease, and the rights and obligations of Sublessor and Sublessee under this Sublease, are subject to the condition that Master Lessor consent to this
Sublease, and this Sublease shall be effective only upon the receipt by Sublessor of such consent. 

8

 

16.   SECURITY DEPOSIT. 

        Sublessee
has deposited with Sublessor the sum of $13,447.25 as security for the faithful performance and observance by Sublessee of the
terms, provisions and conditions of this Sublease. It is agreed that in the event Sublessee defaults in respect of any of the terms, provisions and conditions of this Sublease, including, but not
limited to, the payment of Base Rent or Additional Rent, Sublessor may
use, apply or retain the whole or any part of the security so deposited to the extent required for the payment of any rent or any other sum as to which Sublessor may expend or be required to expend by
reason of Sublessee's default in respect of any of the terms, covenants and conditions of this Sublease, including but not limited to, any damages or deficiency in the re-letting of the
Premises, whether such damages or deficiency occurred before or after summary proceedings or other re-entry by Sublessor. If Sublessor applies any part of said deposit to cure any default
of Sublessee, Sublessee shall upon demand deposit with Sublessor the amount so applied so that Sublessor shall have the full deposit on hand at all times during the Sublease Term. 

        In
the event that Sublessee shall fully and faithfully comply with all of the terms, provisions, covenants and conditions of this Sublease, the security shall be returned to Sublessee
without interest after the date fixed as the end of the Term of this Sublease and after delivery of the entire possession of the Sublease Premises to Sublessor. In the event of a sale or lease of the
Building and/or Real Property, Sublessor shall transfer the security to the vendee or lessee and Sublessor shall thereupon be released by Sublessee from all liability for the return of such security,
and Sublessee agrees to look solely to the new Sublessor for the return of said security, and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the security
to a new Sublessor. Sublessee further covenants that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as security and that neither Sublessor nor its
successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. 

17.   INDEMNIFICATION.  

        Sublessee shall save Sublessor harmless from, and indemnify Sublessor against, any and all injury, loss or damage, or claims for injury, loss or damage, including
reasonable legal fees and expenses, of whatever nature, caused by or resulting from any breach of a covenant of this Sublease by Sublessee, any act, omission or negligence of Sublessee or any
subtenant, invitee or concessionaire of Sublessee or any employee or agent of Sublessee, or any event occurring within or about the Sublease Premises. 

        Sublessor
shall save Sublessee harmless from, and indemnify Sublessee against, any and all injury, loss or damage, or claims for injury, loss or damage, including reasonable legal fees
and expenses, of whatever nature, caused by or resulting from any breach of a covenant of this Sublease by Sublessor, any obligations or liabilities of Sublessor under the Building Lease not assumed
by Sublessee under this Sublease, or any obligations or liabilities (including tax liabilities) attributable to periods prior to the term of this Sublease. 

18.   ENTIRE AGREEMENT.  

        This instrument shall merge all undertakings between the parties hereto with respect to the Sublease Premises and upon execution by both parties shall constitute
the entire sublease agreement, unless thereafter modified by both parties in writing. 

19.   HEADINGS.  

        The headings of the Sections of this Sublease are for convenience of reference only and do not form a part hereof, and they shall not be interpreted or
construed to modify, limit, or amplify the intent of such Sections. 

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20.   PARTIES IN INTEREST.  

        Subject to the provisions of this Sublease relating to assignment, subleasing and other transfers or the parties' interests, this Sublease shall inure to the
benefit of and be binding upon the successors in interest and assigns of the parties hereto. 

21.   COUNTERPARTS.  

        This Sublease may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same
instrument. 

22.   NUMBER AND GENDER.  

        Words in the singular, plural, masculine, feminine and neuter as used herein shall have the meanings and be construed as required by the context in which they are
used herein. 

23.   GOVERNING LAW.  

        This Sublease shall be construed under and governed by the laws of the state in which the Sublease Premises are located. 

24.   LIMITATION OF LIABILITY.  

        In the event that Sublessor shall have any liability to Sublessee relating to the Sublease Premises, the Building, the Real Property, or this Sublease, including
without limitation on account of any breach by Sublessor of its obligations hereunder, Sublessee shall have recourse only to the interest of Sublessor in the Building and Real Property, and not to any
other assets of Sublessor. 

25.   WAIVER OF SUBROGATION.  

        Anything in this Sublease to the contrary notwithstanding, Sublessor and Sublessee hereby waive and release each other of and from any and all right of recovery,
claim, action or cause of action, against each other, their agents, officers and employees, for any loss or damage that may occur to the Sublease Premises or personal property within the Sublease
Premises, by reason of fire or the elements, regardless of cause or origin, including negligence of Sublessor or Sublessee and their agents, officers and employees; provided, however, that the
foregoing waiver and release shall be effective only to the extent that any of the foregoing are covered by insurance. Sublessor and Sublessee agree immediately to give their respective insurance
companies which have issued policies of insurance covering all risk of direct physical loss, written notice of the terms of the mutual waivers contained in this Section, and shall require such
insurance companies to waive any rights of subrogation. 

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        IN WITNESS WHEREOF, the parties hereto have executed this Sublease as of the date first above written. 

	 	 	SUBLESSOR:
	
 	
 	
FLEXTRONICS USA, INC.
	

 	
 	
By:	

/s/  MIKE CARNEY      
	 	 	 	
 Name:  Mike Carney

Title:    General Manager
	

 	
 	
SUBLESSEE:
	
 	
 	
CROCS, INC.
	

 	
 	
By:	

/s/  RONALD SNYDER      
	 	 	 	
 Name:  Ronald Snyder

Title:    President and Chief Executive Officer

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QuickLinks

Exhibit 10.11

SUBLEASE

SUBLEASE

WITNESSETH

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}]]