Document:

Exhibit 10.57
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Pursuant to Item 601(b)(10) of Regulation S-K, certain information contained in this document, marked by brackets as [***], has been omitted because it is both (i) not material and (ii) would likely cause competitive harm to the registrant if publically disclosed.
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SIXTH AMENDMENT AGREEMENT
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This Sixth Amendment Agreement (this “Amendment”) is made and entered into as of May 29, 2021 by and between SoftBank Corp., a company incorporated under the laws of Japan and having its principal place of business at 1-7-1 Kaigan, Minato-ku, Tokyo (formerly 1-9-1 Higashi-shimbashi, Minato-ku, Tokyo), Japan (“SoftBank”) and AeroVironment Inc., a company incorporated under the laws of the State of Delaware and having its principal place of business at 900 Innovators Way, Simi Valley, CA 93065 (formerly 800 Royal Oaks Drive, Suite 210, Monrovia, CA 91016), U.S.A. (“AV”). SoftBank and AV are hereinafter referred to collectively as the “Parties” and individually as a “Party”.
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All Capitalized terms not otherwise defined herein shall have the same meaning as assigned to them in the Original Agreement (as such term is defined below).
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RECITALS
WHEREAS:
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	(A)
	SoftBank and AV entered into a Joint Venture Agreement dated as of December 1, 2017 under which they agreed to establish a joint venture company named HAPSMobile Inc., and SoftBank and AV subsequently amended such Joint Venture Agreement by the certain Amendment Agreement dated November 29, 2018, the certain Second Amendment Agreement dated February 8, 2019, the certain Third Amendment Agreement dated June 21, 2019, the certain Fourth Amendment Agreement dated October 30, 2019, and the certain Fifth Amendment Agreement dated March 31, 2021 (such Joint Venture Agreement, Amendment Agreement, Second Amendment Agreement, Third Amendment Agreement, Fourth Amendment Agreement, and Fifth Amendment Agreement being referred to collectively as the “Original Agreement”); and

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	(B)
	SoftBank and AV now desire to amend a portion of the Original Agreement as set forth in this Amendment.

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NOW THEREFORE, the Parties hereby agree to amend and supplement the terms of the Original Agreement as follows:
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1.Amendment to Section 7.10 (Preferred Supplier).
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Section 7.10 of the Original Agreement is deleted in its entirety and replaced with the following:
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Preferred Supplier. AV will have exclusive rights from the Company for future design and manufacturing work for the existing Solar HAPS currently referred to as the “Sunglider” and future variants thereof (which may be categorized as “Flying Wing” type and “Paul MacCready” type aircrafts) subject to AV’s terms (and AV’s ongoing compliance with such terms) with respect to ensuring that the quality, performance and cost for such work is competitive with third parties. Subject to the foregoing, AV must remain the design authority and manufacturing authority for the existing Sunglider and any future variants thereof and is responsible for providing (i) a certifiable and manufacturable aircraft system for the existing Sunglider and any future variants thereof (including, without limitation, all of the Sunglider’s subsystems and components with the exception of the payload), and (ii) evidence of AV’s quality and cost competitiveness to the Company by the use of transparency standards, such as a preferred supplier certification process and the Company shall review the evidence presented by AV. However, in the event that AV is not capable of performing the necessary work due to unforeseen events, including but not limited to force majeure, or where the quality, performance or cost of the work by AV is not competitive with that of third parties, the
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[***] Information has been omitted pursuant to Item 601(b)(10) of Regulation S-K.

Company shall have the right to use a second supplier. In furtherance of the Company’s overall business, the Company and SoftBank may advise AV to select other resources for certain components, which advice AV shall consider in good faith and will not unreasonably withhold consent.
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2.Amendment to Section 12 (Non-Compete).
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Section 12 of the Original Agreement is deleted in its entirety and replaced with the following:
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The Parties agree that the Solar HAPS currently referred to as the “Sunglider” is being developed exclusively for the Company. The Parties further agree that neither of the Parties will compete with the Company, including by engaging in any similar project(s) with third parties, in the area of the use of Solar HAPS in commercial telecommunication applications; provided, however, that since the Company, as a high altitude platform station operator, may provide services utilizing various high altitude platform station vehicles, the foregoing prohibition shall not apply to SoftBank and/or AV discussing, testing, partnering or conducting any other activities with aircraft manufacturers or Solar HAPS providers where such activities are conducted on behalf of or for the ultimate benefit of the Company to the extent such activities do not adversely impact the development or maturation to commercialization of Sunglider or future variants thereof, but only for as long as such development or maturation to commercialization of the Sunglider and its derivative platforms remains in the best interest of the Company (as determined independently of the interests of the Company's individual shareholders as suppliers or commercial partners). The Company shall have the exclusive right to the Solar HAPS in any application other than Non-Commercial applications. AV shall have the exclusive rights to the Solar HAPS for Non-Commercial applications which is an extension of its now current business; provided, however, the Company shall have the exclusive rights to Non-Commercial applications for the Solar HAPS for Japan. If AV’s Non-Commercial applications of Solar HAPS impact the Company’s overall business in a materially and demonstrably negative way, then AV shall cease the activities directly causing such negative impact within a commercially reasonable time after receiving written notice from the Company providing AV with evidence of such negative impact. In the event that AV is required to cease such activities pursuant to this Section 12, the Steering Committee shall promptly and in good faith work to resolve the issues causing such material and demonstrable negative impact to allow AV to resume such activities in a timely manner while eliminating such negative impact to the Company’s business. In the event that AV is required to disclose to its government customers that the Solar HAPS includes technology licensed by the Company, AV shall promptly notify the Company in advance of such requirement and take steps reasonably necessary to seek to maintain the confidentiality of the information to be disclosed.
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3.Amendment to Section 7.9 (Purchase Orders).
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Section 7.9 of the Original Agreement is deleted in its entirety and replaced with the following:
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Purchase Orders. For purchase or work orders issued by the Company to AV to continue the design and development of the Solar HAPS for the Company, the profit that AV may include in its prices to the Company shall be no greater than [***] ([***]%) of AV’s total cost. For purchase or work orders issued by SoftBank to AV under the Master Design and Development Agreement, the profit that AV may include in its prices to SoftBank shall be no greater than [***] ([***]%) of AV’s total cost.
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4.Effective Date.
Notwithstanding the signing date, this Amendment shall be in full effect from May 29, 2021.
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5.Other.
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[***] Information has been omitted pursuant to Item 601(b)(10) of Regulation S-K.
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Except as expressly modified by this Amendment, the Original Agreement shall remain in full force and effect.
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[Signature page follows.]
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[***] Information has been omitted pursuant to Item 601(b)(10) of Regulation S-K.
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IN WITNESS WHEREOF, the Parties have executed this Amendment by their respective duly authorized representatives. This Amendment may be executed in counterparts, including by facsimile or any other electronic transmission.
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[Signature Page]

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	SoftBank Corp.
	    
	AeroVironment, Inc.

	By:
	/s/ Hidebumi Kitahara
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	By:
	/s/ Wahid Nawabi

	Print Name: 
	Hidebumi Kitahara
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	Print Name:
	Wahid Nawabi

	Title: 
	VP, Head of Global Business Strategy
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	Title:
	President and CEO

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	Division
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	Date: 
	May 29, 2021
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	Date: 
	May 29, 2021

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[Signature Page]Exhibit 10.66
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SECOND AMENDMENT TO LEASE AGREEMENT
(994 Innovators Way, Simi Valley, CA 93065)
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THIS SECOND AMENDMENT TO LEASE AGREEMENT (this "Second Amendment") dated for reference as of June 1, 2021, is entered into by and between HILLSIDE ASSOCIATES II, LLC, a California limited liability company, as Lessor, and AEROVIRONMENT, INC., a Delaware corporation, as Lessee, with reference to the following:
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Recitals
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A.Lessor and Lessee have entered into that certain AIR Commercial Real Estate Association Standard Industrial/Commercial Lease - Net, dated April 21, 2008, as addended, and as amended by that certain First Amendment to Lease Agreement, dated December 1, 2013 (the "First Amendment"), for the premises formerly known as 994 Flower Glen Street, Simi Valley, CA 93065 and now commonly known as 994 Innovators Way, Simi Valley, CA 93065, more particularly described therein (collectively, the "Lease") . Each initially capitalized term not defined in this Second Amendment shall have the meaning ascribed to such term in the Lease. Each sectional reference below shall mean and refer to the corresponding section of the Lease.
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B.Lessor and Lessee desire and intend to amend the Lease on the terms and conditions set forth hereinbelow.
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NOW, THEREFORE, in consideration of the terms and provisions contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee hereby amends the Lease as follows:
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1.TERM. The term of the Lease is hereby extended for a period of six (6) years, commencing on December 1, 2021 and terminating on November 30, 2027 (the "Termination Date"), subject to Lessee's one-time only right to terminate the Lease prior to the Termination Date as such right is provided and conditioned in Paragraph 2 below.
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2.LESSEE'S RIGHT TO TERMINATE LEASE EARLY.   Notwithstanding the terms of Paragraph 1 above, Lessee shall have the right to terminate ("Termination") the Lease for any reason or for no reason upon twelve (12) months prior written notice to Lessor of Termination, provided in no event shall this Lease be terminated by Lessee earlier than November 30, 2024 and provided further Lessee shall satisfy in addition each of the following conditions (each, a "Condition," and, collectively, the "Conditions"):
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(a)Lessee shall not be in uncured breach or default of any of its obligations under the Lease on the date of Lessee's delivery to Lessor of Lessee's notice of Termination or at any time thereafter;
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(b)Lessee shall pay to Lessor, within thirty (30) days of the Lease Termination Date, good funds in the amount of a total of six (6) months of Base Rent at the rate applicable under Paragraph 3 below for Base Rent on the date Lessee returns to Lessor all keys for the Premises and Lessee has satisfied all Conditions in addition; and
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(c)Lessor's identification of the amount to be paid by Lessee to Lessor, and Lessee's payment of such amount in full to Lessor, for the repair and/or restoration of the Premises as required under the Lease, as amended.
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(d)During the twelve (12) months immediately following Tenant’s notice of Termination, Lessee shall provide Lessor reasonable access to the Premises for the purpose of showing the Premises to prospective lessees, (or purchasers, as applicable), understanding this is an ITAR (International Traffic Arms Regulation) compliant building and Premises, and as such, the building and Premises can not be toured by persons who are not citizens of the United States, and further, the building and Premises may contain certain areas which contain sensitive information and such areas may not be toured or seen unless all visitors receive prior security clearance and special permission from Lessee.
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All other conditions under the Lease applicable to Lessee's termination and/or vacation of the Premises shall remain in full force and effect and shall be satisfied by Lessee.
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3.BASE RENT: The Base Rent for the Premises shall be increased to the amounts provided below during the applicable periods listed below:
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(a)For the period from December 1, 2021 to and including November 30, 2022, the Base Rent for the Premises shall be $34,416.00 per month, together with such other assessments, additions and pass-throughs as are set forth in the Lease, as amended;
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(b)For the period from December 1, 2022 to and including November 30, 2023, the Base Rent for the Premises shall be $35,448.00 per month, together with such other assessments, additions and pass-throughs as are set forth in the Lease, as amended;
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(c)For the period from December 1, 2023 to and including November 30, 2024, the Base Rent for the Premises shall be $36,511.00 per month, together with such other assessments, additions and pass-throughs as are set forth in the Lease, as amended;
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(d)For the period from December 1, 2024 to and including November 30, 2025, the Base Rent for the Premises shall be $37,606.00 per month, together with such other assessments, additions and pass-throughs as are set forth in the Lease, as amended; and
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(e)For the period from December 1, 2025 to and including November 30, 2026, the Base Rent for the Premises shall be $38,734.00 per month, together with such other assessments, additions and pass-throughs as are set forth in the Lease, as amended.
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(f)For the period from December 1, 2026 to and including November 30, 2027, the Base Rent for the Premises shall be $39,896.00 per month, together with such other assessments, additions and pass-throughs as are set forth in the Lease, as amended.
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4.NO ABATEMENT OF RENT. Paragraph 3 of the First Amendment relating to prior Base Rent partial abatement is deleted in its entirety. There shall be no abatement of Base Rent under this Second Amendment.
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5.OPTION TO EXTEND TERM: Provided Lessee is not in an uncured breach or default of any of its obligations under the Lease on the date of Lessee’s delivery to Lessor of Lessee’s intent to exercise its renewal option. Lessee shall have one option to renew the Lease for a term of five (5) years at the-then-current market rent; however, in no event will the Base Rent during the first month of the renewal term be less than the monthly Base Rent for the last month of the initial lease term, or any extensions. The Base Rent during the renewal term shall be increased by three percent (3%) each year, adjusting on the anniversary of the renewal term commencement date. Lessee shall provide Lessor not less than nine (9) months prior written notice of its intent to exercise its renewal option.
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6.BROKER'S FEE.   Except as previously paid by either Lessor or Lessee, Lessor agrees to pay to CBRE. Inc., (the "Broker") any broker's fee due to the Broker as a result of the terms of this Second Amendment.
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7.WARRANTIES AND REPRESENTATIONS. Lessee warrants and represents to Lessor that: (a) there are no present and outstanding breaches of the Lease by Lessor and (b) Lessee currently has no claims or offsets of any kind or nature against Lessor.
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8.LEASE CONTINUES IN FULL FORCE AND EFFECT. Except as set forth in this Second Amendment, the Lease (including the First Amendment) remains unmodified and continues in full force and effect in accordance with its terms.
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9.SUCCESSES AND ASSIGNS. This Second Amendment shall be binding on Lessor's and Lessee's respective successors and assigns.
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10.COUNTERPARTS. This Second Amendment may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
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IN WITNESS WHEREOF, Lessor and Lessee hereby execute this Second Amendment as of the date and year first written above.
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Dated this 15 day of June, 2021.
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	"LESSOR"
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	"LESSEE"

	HILLSIDE ASSOCIATES, II, LLC,
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	AEROVIRONMENT, INC,

	a California limited liability company
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	a Delaware corporation 

	MID VALLEY PROPERTIES,
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	Managing Agent
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	By:
	/s/ Margaret Kestly
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	By:
	/s/ Ken Karklin

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	Margaret Kestly, Authorized Agent
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ADDENDUM TO OPTION TO RENEW 
RENT ESCALATIONS FIXED INCREASE
994 Innovators Way, Simi Valley, CA. 93065, formerly 994 Flower Glen Street, Simi 
Valley, CA 93065
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THIS ADDENDUM is attached to and integrated as part of that certain Option to Renew and that certain Lease Agreement dated June 1, 2021, by and between Hillside Associates II, LLC, Lessor, and AeroVironment Inc., a Delaware Corporation, Lessee, and constitutes additional Agreements and Conditions contained herein, which Addendum shall prevail in the event of any conflict between the Agreements and Conditions contained herein and those in said Option to Renew.
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RENT ESCALATIONS NOTICE:
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On each anniversary date of the renewal term, the monthly rental payment shall be increased by Three percent (3%). Lessor’s failure to request payment of the rental increase when due shall not constitute a waiver of the right to any adjustment provided for herein or the right to demand payment or seek enforcement of any rental increase, including but not limited to the filing of an unlawful detainer action.
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Initials MK/ KK
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OPTION TO RENEW
994 Innovators Way, Simi Valley, CA 93065, formerly 994 Flower Glen Street, Simi Valley, CA 93065
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Provided Lessee has never been in default in any of the agreements, covenants, terms or conditions of this Lease, Lessee shall have the Option to Renew the term of this Lease for ONE (1) FIVE (5)YEAR TERM following the expiration of the initial term (herein called "renewal term") provided written notice is delivered to Lessor at least NINE (9) months before the expiration of the initial term of this Lease (or, as to any successive renewals, written notice to Lessor at least three months (3) prior to the expiration of the immediately preceding term). The terms and conditions of this Lease shall remain in full force and effect during the renewal term, except that:
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1.There shall be no free rent or other rent concessions.
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2.The monthly rent shall be equal to the rent charged for comparable space in the geographical area ("market rate"). However, in no event will the monthly rent during the renewal term be less than the monthly rent for the last month of the initial Lease term or any extensions thereto. If the renewal term is greater than one (1) year, the rent for the first year of the renewal term shall be at market rate; thereafter, on each yearly anniversary of the renewal term, the rent shall be increased as set forth in the Addendum to Option to Renew. If successive options are granted, this Option to Renew shall apply to each renewal term.
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3.Lessee shall accept the Premises "as is" and "with all faults" and Lessor has no obligation to improve same in any way.
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4.The security deposit shall be increased in direct proportion to each and every rent increase. Promptly upon Lessee's receipt of written notification from Lessor as to the rent applicable to such renewal term, at Lessors direction, Lessor may request that Lessee pay to Lessor the rent for the first month of the renewal term and the amount of any increase in security deposit.
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5.In the event that Lessee has multiple options to extend or renew this Lease, a later option cannot be exercised unless prior option to extend or renew this Lease has been exercised. This option to extend is personal to the original Lessee and is not transferable or assignable in any manner whatsoever.

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6.Lessee shall have no other right to extend the term beyond the renewal term.

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7.In the event Lessor has prepared a new or revised Lease Agreement covering the subject business or industrial complex, then, in that event, Lessee shall execute a new Lease Agreement for the extended term and said new Lease Agreement shall be applicable and operative during the extended option period.
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8.If Lessee is in default on the date of giving the option notice or at any time prior to the commencement of the renewal term, the option notice shall be totally ineffective and this Lease shall expire at the end of the initial term.

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The parties hereto have executed this Option to Renew on the date set forth below:
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	LESSOR:
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	LESSEE:

	Hillside Associates II, LLC
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	AeroVironment, Inc.

	By Mid Valley Properties,
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	A Delaware CORPORATION

	Managing Agent
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	By
	/s/ Margaret Kestly
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	By
	/s/ Ken Karklin

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	Margaret M. Kestly, Authorized Agent
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	Kenneth Karklin, Sr. Vice President & COO

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	DATE:
	6/15/2021

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Initials MK / KK

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