Document:

Exhibit 10.33

THIRD
AMENDMENT TO LEASE

This Third Amendment to Lease (“Amendment”) made and
entered into this 10th day of March, 2006, by and between BRANDYWINE OPERATING PARTNERSHIP, L.P., hereinafter referred
to as “Landlord” and MEDQUIST INC., hereinafter
referred to as “Tenant”.

WHEREAS, Landlord leased certain premises consisting
of 36,372 rentable square feet of space commonly referred to Suite 200 and 300
(“Original Premises”) located at 1000 Bishops Gate Boulevard, Mt.  Laurel, New Jersey 08054 (“Building”), to
Tenant pursuant to that certain Lease dated June 17, 2003 (“Original Lease”),
as amended August 26, 2003 (“First Amendment”) and November 30, 2003 (“Second
Amendment”), hereinafter collectively referred to as “Lease,” the Original Premises
being more particularly described therein; and

WHEREAS, Tenant desires to expand the size of the
Original Premises by adding an additional 2,941 rentable square feet (“RSF”) of
space under the Lease;

WHEREAS, Landlord and Tenant wish to amend the Lease
as follows;

NOW, THEREFORE, in consideration of these present and
the agreement of each other, Landlord and Tenant agree that the Lease shall be
and the same is hereby amended as follows:

1.             Incorporation of
Recitals.  The recitals set forth
above, the Lease referred to therein and the exhibits attached hereto are
hereby incorporated herein by reference as if set forth in full in the body of
this Amendment.  Capitalized terms not
otherwise defined herein shall have the meanings given to them in the Lease.

2.             Lease of
Additional Premises.

a.             The Lease is hereby
amended to provide that Landlord hereby demises and lets unto Tenant, and
Tenant hereby leases and hires from Landlord, all that certain space on the
first floor of the Building containing approximately 2,941 RSF of space (the “Additional
Premises”), as shown on Exhibit “A” and made a part hereof The term of
the Lease for the Additional Premises shall commence upon substantial
completion of the Landlord’s Work (as defined in subparagraph (b) hereof) (“Additional
Premises Commencement Date”).  The
Additional Premises shall be deemed “substantially completed” when the Landlord’s
Work has been completed to the extent that the Additional Premises maybe
occupied by Tenant for its Permitted Uses, subject only to completion of minor
finishing, adjustment of equipment, and other minor punchlist items and
construction aspects, and Landlord has procured a temporary or permanent
certificate of occupancy permitting the occupancy of the Premises (hereafter, “substantially
completed”).  It is the mutual intention
of Landlord and Tenant that the Additional Premises shall be leased to and
occupied by Tenant on and subject to all of the terms, covenants and conditions
of the Lease except as otherwise expressly provided to the contrary in this
Amendment, and to that end Landlord and Tenant hereby agree that from and after
the Additional Premises Commencement Date the word ‘Premises”, as defined in
the Lease, shall mean and include both the Original Premises and the Additional
Premises, containing a total of 

39,313 RSF, unless the context otherwise
requires.  On or before sixty (60) days
following the Additional Premises Commencement Date, Landlord’s architect shall
utilize the 1996 BOMA standard to determine Tenant’s rentable square footage
for the Additional Premises, thereafter Tenant’s Fixed Rent for the Additional
Premises and Tenant’s Allocated Share of the Building shall be adjusted to
accurately reflect their respective values based on the rentable square footage
so determined.

b.             Landlord shall
construct and do such other work in the Additional Premises (collectively, the “Landlord’s
Work”) in substantial conformity with the plans and outline specifications of
the plan, SK/4-0l prepared by Space Designs, Inc. dated January 19,
2006, which have been initialed by the parties, and which arc herein
incorporated by reference.  Tenant shall
deliver final plans and finish specifications on or before the date that is the
earlier of (i) five (5) days after the date of this Amendment, or (ii)
March 15, 2006.  Landlord shall have
five (5) business days in which to review such final plans and finish
specifications and to notify Tenant of Landlord’s approval or disapproval,
which, in either event, shall not be unreasonably withheld, conditioned or
delayed.  Landlord shall only be
responsible for payment of a maximum cost of $106,905.35 (i.e., $36.35 per
rentable square foot for the Landlord’s Work) (the “Tenant Allowance”), all
such costs in excess thereof to be borne by Tenant, and shall be paid to
Landlord within thirty (30) days of delivery of an invoice and reasonable
documentation there for.  If any material
revision or supplement to Landlord’s Work is deemed necessary by Landlord,
those revisions and supplements shall be submitted to Tenant for approval,
which approval shall not be unreasonably withheld or delayed (provided that
such revisions or supplements do not materially Increase Tenant’s costs
hereunder).  If Landlord shall be delayed
in such “substantial completion” as a result of (i) Tenant’s failure to furnish
plans and specifications within the time frame stated herein above; (ii) Tenant’s
request for materials, finishes or installations other than Landlord’s
standard, (iii) Tenant’s changes in said plans; (iv) the performance or
completion of any work, labor or services by a party employed by Tenant; or (v)
Tenant’s failure to approve final plans, change orders, working drawings or
reflective ceiling plans within five (5) business days following Landlord’s
written request for the same (each, a “Tenant’s Delay”); then the Additional
Premises Commencement Date and the payment of Fixed Rent hereunder shall be
accelerated by the number of days of such delay.  If any change, revision or supplement to the
scope of the Landlord’s Work is requested by Tenant and such change, revision
or supplement results in an increase in cost to Landlord, then Landlord will
notify Tenant in writing of such increased cost before preceding with such
change, revision or supplement.  If after
such notification from Landlord, Tenant notifies Landlord to proceed with such
change, revision or supplement, then such increased costs associated with such
change, revision or supplement shall be paid by Tenant within five (5) days of
notice form Tenant to proceed, and such occurrence shall not change the
Additional Premises Commencement Date and shall not alter Tenant’s obligations
under this Lease as amended hereby. 
Notwithstanding anything to the contrary stated in Section 2(a) above,
the Additional Premises Commencement Date shall occur on the date the
Additional Premises would have been delivered to Tenant but for Tenant’s Delay
or Tenant’s change order.  Landlord’s
Work will not constitute an Alteration under Article 10 of the Original
Lease.  Notwithstanding anything to the
contrary contained herein, lithe entire Tenant Allowance is not spent by Tenant
on Landlord’s Work, the balance may be spent by Tenant for furniture, fixtures,
or equipment.

 2
  
 

c.             Upon notification by
Landlord, Landlord and Tenant shall schedule a pre-occupancy inspection of the
Additional Premises at which time a punchlist of outstanding items, if any,
shall be completed.  For the purpose of
the Lease, punchlist items are those minor adjustments, repairs, replacements
and the failure to complete associated with Landlord’s Work of which, taken as
a whole shall not interfere with or disrupt Tenant’s Permitted Uses of the
Premises.  Landlord shall complete the
punchlist items to Tenant’s reasonable satisfaction within thirty (30) days
thereafter or the expiration of such additional time period as is reasonably
necessary to cure such obligation, provided Landlord immediately commences and
thereafter proceeds with all due diligence and in good faith to cure such
obligation. During completion of the punchlist items, Landlord will take
commercially reasonable measures to not unreasonably interfere with Tenant’s
business operations in the Additional Premises.

d.             The Additional
Premises Commencement Date shall be confirmed by Landlord and Tenant by the
execution of a Confirmation of Lease Term in the form attached hereto as Exhibit
“B”.  If Tenant fails to execute or
object to the Confirmation of Lease Tern within ten (10) business days of its
delivery, Landlord’s determination of such dates shall be deemed accepted.

e.             Landlord anticipates
that the Additional Premises Commencement Date will occur on or before the date
which is one hundred forty (140) days after the date of this Amendment (the “Outside
Delivery Date”).  If the Additional Premises
Commencement Date has not occurred by the Outside Delivery Date, subject to the
provisions herein relating to a Tenant’s Delay or Force Majeure, then Tenant
shall be entitled to a rent credit equal to one day’s Fixed Rent for each day
that the Additional Premises Commencement Date is delayed beyond the Outside
Delivery Date.

3.             Term:  The Lease Term for the Additional Premises
shall commence on the Additional Premises Commencement Date and terminate on
June 30, 2014, coterminously with the Lease.

a.             From and after the
Additional Premises Commencement Date (“APCD”), Tenant Shall pay to Landlord
Fixed Rent for the Additional Premises (2,941 RSF) as follows:

	
  TIME

  PERIOD

  	
   

  	
  PER

  RSF

  	
   

  	
  MONTHLY

  INSTALLMENT

  	
   

  	
  ANNUAL

  BASE RENT

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  APCD-06/30/07

  	
   

  	
  $

  	
  23.50

  	
  *

  	
  $

  	
  5,759.46

  	
   

  	
  $

  	
  69,113.50

  	
   

  
	
  07/01/07-06/30/08

  	
   

  	
  $

  	
  24.00

  	
  *

  	
  $

  	
  5,882.00

  	
   

  	
  $

  	
  70,584.00

  	
   

  
	
  07/01/08-06/30/09

  	
   

  	
  $

  	
  24.50

  	
  *

  	
  $

  	
  6,004.54

  	
   

  	
  $

  	
  72,054.50

  	
   

  
	
  07/01/09-06/30/10

  	
   

  	
  $

  	
  25.00

  	
  *

  	
  $

  	
  6,127.08

  	
   

  	
  $

  	
  73,525.00

  	
   

  
	
  07/01/10-06/30/11

  	
   

  	
  $

  	
  25.50

  	
  *

  	
  $

  	
  6,249.63

  	
   

  	
  $

  	
  74,995.50

  	
   

  
	
  07/01/11-06/30/12

  	
   

  	
  $

  	
  26.00

  	
  *

  	
  $

  	
  6,372.17

  	
   

  	
  $

  	
  76,466.00

  	
   

  
	
  07/01/12-06/30/13

  	
   

  	
  $

  	
  26.50

  	
  *

  	
  $

  	
  6,494.71

  	
   

  	
  $

  	
  77,936.50

  	
   

  
	
  07/01/13-06/30/14

  	
   

  	
  $

  	
  27.00

  	
  *

  	
  $

  	
  6,617.25

  	
   

  	
  $

  	
  79,407.00

  	
   

  

 

 3
  
 

 

*Plus costs associated
with Article 6 and Article 7 of the Original Lease.

Tenant’s Fixed Rent shall be adjusted, if required,
following Landlord’s Architect’s re-measurement of the Additional Premises as
provided in Article 2(a) above.

b.             Notwithstanding
anything in the Lease to the contrary, Tenant shall pay to Landlord without
notice or demand, and without set-off except as set forth in this Lease, the
annual Fixed Rent payable in the monthly installments of Fixed Rent as set
forth above, in advance on the first day of each calendar month during the Term
by (i) check sent to Landlord, P.O. Box 8538-363, Philadelphia, PA 19171 or
(ii) wire transfer of immediately available funds to the account at Wachovia
Bank, Salem NJ account no. 2030000359075 ABA #031201467; such transfer to be
confirmed by Landlord’s accounting department upon written request by
Tenant.  All payments must Include the following Information: Building #292 and
Lease
#             .  Such numbers shall be provided by Landlord
within a reasonable time following execution of this Amendment.

4.             Tenant’s
Allocated Share.  From and after the
Additional Premises Commencement Date, Tenant’s Allocated Share shall be 73.56%
(based upon the anticipated 39,313 RSF), subject to adjustment as provided in Article
2(a) above.

5.             Base
Year for Additional Premises.  From
and after the Additional Premises Commencement Date, the term “Base Year”, as
it applies to the Additional Premises only, shall mean the calendar year 2006.

6.             Notice
Addresses:  All notices wider the
Lease shall be sent to Tenant at the following address:

MedQuist Inc.

1000 Bishops Gate Boulevard

Mt. Laurel, NJ  08054

Attn:  General Counsel

and to Landlord at:

Brandywine Operating Partnership, L.P.

10000 Midlantic Drive, Suite 300 West

Mt.  Laurel, NJ 08054

Attn:  George D. Sowa, Senior Vice
President

Phone No. 856-787-1600

Fax No. 856-787-1310

E-mail:  George.Sowa@brandywinerealty.com

with a copy to:

Brandywine Realty
Trust

401 Plymouth Road, Suite 500

Plymouth Meeting, PA 19462

Attn:  Brad A. Molotsky

 4
  
 

 

Phone No. 610-325-5600

Fax No. 610-832-4928

E-mail:  brad.molotsky@brandywinerealty.com

7.             Tenant
Representations : Tenant hereby confirms that (i) the Lease is in full
force and effect and Tenant is in possession of the Premises; (ii) to
Tenant’s actual knowledge as of the date hereof, Landlord has performed all
outstanding Tenant improvements and Landlord’s Work obligations, except as
provided in Article 2(b) above; (m) to Tenant’s actual knowledge as of the
date hereof, there are no defaults by Landlord under the Lease, (iv) Tenant’s
security deposit is $0.00; and (v) the Base Year for the Original Premises
is 2004.

8.             Brokerage
Commission.  Landlord and Tenant
mutually represent and warrant to each other that they have not dealt, and will
not deal, with any real estate broker or sales representative in connection
with this proposed transaction, except CBRE (“Broker”).  Landlord will pay the Broker’s commission
pursuant to a separate written agreement. 
Each party agrees to indemnify, defend and hold harmless the other and
their directors, officers and employees from and against all threatened or
asserted claims, liabilities, costs and damages (including reasonable attorney’s
fees and disbursements) which may occur as a result of a breach of this
representation.

9.             Binding
Effect.  Except as expressly amended
hereby, the Lease remains in full force and effect in accordance with its
terms.

IN WITNESS WHEREOF, Landlord and Tenant have duly
executed this agreement on the dale first above written

	
  

  	
   

  	
  LANDLORD: 

  
	
   

  	
   

  	
  BRANDY WINE OPERATING PARTNERSHIP, L.P. 

  
	
  WITNESS:

  	
   

  	
  By:

  	
  Brandywine Realty Trust, its general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
  /s/ George D. Sowa 

  	
   

  
	
   

  	
   

  	
   

  	
  George D. Sowa 

  
	
   

  	
   

  	
   

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TENANT: 

  
	
  ATTEST:

  	
   

  	
  MEDQUIST INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
  /s/ Frank W. Lavelle

  	
   

  
	
   

  	
   

  	
   

  	
  Frank W. Lavelle 

  
	
   

  	
   

  	
   

  	
  President

  

 

 5Exhibit 10.34

CONFIRMATION OF LEASE TERM

THIS MEMORANDUM made as of the 10th day of August,
2006, between BRANDYWINE OPERATING PARTNERSHIP, a Delaware Limited Partnership,
with an office at 401 Plymouth Road. 
Suite 500, Plymouth Meeting, Pennsylvania 19462 (“Landlord”) and
MEDQUIST INC. (“Tenant”), who entered into a lease amendment dated for
reference purposes as of March 10, 2006 covering certain premises located at
1000 Bishops Gate Boulevard, Mt.  Laurel,
New Jersey 08054.  All capitalized terms,
if not defined herein, shall be defined as they are defined in the Lease.

1.             The
Parties to this Memorandum hereby agree that the date of July 24, 2006 is the “Additional
Premises Commencement Date” of the Term, that the date June 30, 2014 is the
expiration date of the Lease.

2.             Tenant
hereby confirms the following:

a.             That
it has accepted possession of the Additional Premises pursuant to the terms of
the Amendment;

b.             That
the improvements, if any, including the Landlord Work, required to be furnished
according to the Amendment by Landlord have been substantially completed in
accordance with the terms and conditions of the Amendment;

c.             That
Landlord has fulfilled all its duties of an inducement nature or as otherwise
set forth in the Lease;

d.             That
there are no offsets or credits against rentals.

e.             That
there is no default by Landlord or Tenant under the Lease or Amendment and the
Lease and Amendment is in full force and effect.

f.              The
Rentable Square Footage of the Additional Premises is 2,941.

g.             Tenant’s
Fixed Rent for the Additional Premises (2,941 RSF) is as follows:

 

 

	
  LEASE YEAR

  	
   

  	
  PER SF

  	
   

  	
  MONTHLY

  INSTALLMENT

  	
   

  	
  ANNUAL

  FIXED RENT

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  APCD-06/30/07

  	
   

  	
  $

  	
  23.50

  	
   

  	
  $

  	
  5,795.46

  	
   

  	
  $

  	
  69,113.52

  	
   

  
	
  7/1/07-6/30/08

  	
   

  	
  $

  	
  24.00

  	
   

  	
  $

  	
  5,882.00

  	
   

  	
  $

  	
  70,584.00

  	
   

  
	
  7/1/08-6/30/09

  	
   

  	
  $

  	
  24.50

  	
   

  	
  $

  	
  6,004.54

  	
   

  	
  $

  	
  72,054.48

  	
   

  
	
  7/1/09-6/30/10

  	
   

  	
  $

  	
  25.00

  	
   

  	
  $

  	
  6,127.08

  	
   

  	
  $

  	
  73,524.96

  	
   

  
	
  7/1/10-6/30/11

  	
   

  	
  $

  	
  25.50

  	
   

  	
  $

  	
  6,249.63

  	
   

  	
  $

  	
  74,995.56

  	
   

  
	
  7/1/11-6/30/12

  	
   

  	
  $

  	
  26.00

  	
   

  	
  $

  	
  6,372.17

  	
   

  	
  $

  	
  76,466.04

  	
   

  
	
  7/1/12-6/30/13

  	
   

  	
  $

  	
  26.50

  	
   

  	
  $

  	
  6,494.71

  	
   

  	
  $

  	
  77,936.52

  	
   

  
	
  7/1/13-6/30/14

  	
   

  	
  $

  	
  27.00

  	
   

  	
  $

  	
  6,617.25

  	
   

  	
  $

  	
  79,407.00

  	
   

  

 

*Plus costs associated with Article 6 and Article
7 of the Original Lease.

h.             Tenant’s
Allocated Share of the Building is 73.56%.

3.             Landlord
hereby confirms to Tenant that its Building Number is 292 and its Lease
Number is 005342.  This information
must accompany each Rent check or wire payment.

4.             Tenant’s
Notice Address is:

Medquist Inc.

1000 Bishops Gate Boulevard

Mt. Laurel, NJ  08054

Attn:  General Counsel

Phone No.:  (856) 206-4000

Fax No.:  (856) 206-4020

E-mail:  msullivan@medquist.com

Tenant’s Billing Address is:

Medquist Inc.

1000 Bishops Gate Boulevard

Mt. Laurel, NJ  08054

Attn:  Real Estate

Phone No.:  (856) 206-4227

Fax No.:  (856)206-4228

E-mail:                                

 2
 

5.             This Memorandum, each
and all of the provisions hereof, shall inure to the benefit, or bind, as the
case may require, the parties hereto, and their respective successors and
assigns, subject to the restrictions upon assignment and subletting contained
in the Lease.

	
  

  	
   

  	
  LANDLORD: 

  
	
   

  	
   

  	
  BRANDYWINE OPERATING PARTNERSHIP, L.P. 

  
	
  WITNESS:

  	
   

  	
  By:

  	
  Brandywine Realty Trust, its general partner  

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ George D. Sowa

  	
   

  
	
   

  	
   

  	
   

  	
  George D. Sowa 

  
	
   

  	
   

  	
   

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TENANT: 

  
	
  ATTEST:

  	
   

  	
  MEDQUIST INC. 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
  /s/ Kathleen Donovan

  	
   

  
	
   

  	
   

  	
   

  	
  Kathleen Donovan 

  
	
   

  	
   

  	
   

  	
  Senior Vice President & Chief Financial Officer

  

 

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]