Document:

ex-10.htm

    

      Exhibit
10.1 sixth Amendment to Lease Agreement

      SIXTH
AMENDMENT

      to

      LEASE
BETWEEN

       

      EMERY
STATION OFFICE II, LLC (LANDLORD)

      And

      NOVACAL
PHARMACEUTICALS, INC. (TENANT)

       

      EMERYSTATION
NORTH PROJECT

      Emeryville,
California

       

       

      That
certain lease dated June 3, 2004, by and between Emery Station Office II, LLC, a
California Limited Liability Company, as Landlord (“Landlord”),
and NovaBay Pharmaceuticals, Inc. (formerly Novacal Pharmaceuticals, Inc.), a
California Corporation, as Tenant (“Tenant”),
a such lease was amended by First Amendment dated June 22, 2004, by Second
Amendment dated July 22, 2004, by Third Amendment dated March 25, 2005, by
Fourth Amendment dated September 30, 2006 and by Fifth Amendment dated November
20, 2007 (collectively, the “Lease”),
is hereby further amended as outlined below.  The effective date of
this Sixth Amendment shall be September 1, 2008 (the “Sixth
Amendment Effective Date”).  From and after the Sixth Amendment
Effective Date the Lease and this Sixth Amendment thereto shall be referred to
as the “Lease”
for all purposes.

       

      RECITALS:

       

      Under the
Lease, Tenant currently leases from Landlord, all in the EmeryStation North
building at 5980 Horton Street in Emeryville, CA:  Suite 550
(containing 8,478 rentable square feet), Suite 575 (containing 2,248 rentable
square feet), Suite 580 (containing 952 rentable square feet), Suite 370
(containing 3,701 rentable square feet) and Suite 395 (containing 325 rentable
square feet), and has an obligation to lease Suite 360 (containing 3,052
rentable square feet) upon Landlord’s delivery of said suite to Tenant, which
Landlord and Tenant hereby acknowledge has not yet occurred.  Per the
Lease, various of the above Suites have different maturity dates.

       

      Tenant
has requested to lease from Landlord and Landlord has agreed to lease to
Tenant  Suite 525 in the same building.  Tenant has also
requested, and Landlord has agreed, to terminate Tenant’s lease as it pertains
to Suites 360 and 370.  Additionally, Tenant and Landlord have agreed
to extend the Term of Tenant’s Lease and make all portions thereof co-terminus,
and to modify rental and other terms, all per the specifics enumerated
herein.

       

      SIXTH
AMENDMENT TERMS:

       

      
        	
                I.  

              	
                SUITE
      525:

              

      

       

      Suite
525, more fully described in Exhibit A hereto, measures 6,420 rentable square
feet.  Tenant understands and acknowledges that Suite 525 is currently
leased to and occupied by tenant Neosil, Inc. under a lease set to expire per
its terms on October 31, 2008.  Suite 525 will be added to Tenant’s
Premises effective November 1, 2008 or as soon thereafter as Neosil has vacated
the upon the scheduled expiry of Neosil’s lease is terminated and it has left
the space in the condition required under its lease (the “Suite
525 Commencement Date”).  If Landlord is able, under
commercially-reasonable terms, to arrange for Neosil’s departure prior to their
scheduled lease expiry, then Landlord and Tenant agree that the Suite 525
Commencement Date shall be accelerated to that date which is ten  (10)
days following Landlord’s written notice to Tenant that the space shall be
available to it earlier.  As detailed in Section 2.3 of the Lease,
Landlord shall not be liable for any delay in being able to deliver the Suite
525 space to Tenant for any reason including but not limited to Neosil’s
unauthorized holdover in the space.  Landlord agrees to use
commercially-reasonable efforts to cause Neosil to vacate Suite 525 per the
terms of its occupancy.  Tenant agrees to accept Suite 525 in its then
as-is condition, with no TI Allowance or other improvements from
Landlord.

      

        
          	
                  II.  

                	
                  SUITES
      360 AND 370:

                

        

         

        Landlord
and Tenant acknowledge that Tenant is currently leasing and occupying Suite 370
per the terms of the Fifth Amendment but that Tenant’s lease of Suite 360 has
not yet commenced.  With this Sixth Amendment, Landlord and Tenant
hereby terminate Tenant’s lease of Suite 360 before it has
commenced.  Similarly, as soon after the Suite 525 Commencement Date
that Tenant vacates Suite 370 and leaves it in the condition required under the
Lease, Landlord and Tenant hereby agree to terminate Tenant’s lease on Suite 370
as well.  In consideration for Landlord’s termination of Tenant’s
lease on Suites 360 and 370, Tenant agrees to forgo receipt of any of the
$86,000 Tenant Improvement Allowance referenced in Section V of the Fifth Lease
Amendment.  As outlined in Section VI hereof, Tenant has agreed that
Landlord shall retain the Security Deposit relating to Suite 370 as security for
the overall Lease and reflecting the addition to the Premises of Suite
525.

         

        
          	
                  III.  

                	
                  LEASE
      TERM:

                

        

         

        Landlord
and Tenant hereby extend the Term of the Lease such that it will expire October
31, 2015.  This new expiry date will now apply to the entirety of
Tenant’s Premises and all Suites leased hereunder.

         

        
          	
                  IV.  

                	
                  RENT
      AND EXPENSES:

                

        

         

        Beginning
on the first day of the first calendar month following the Suite 525
Commencement Date (the “New
Rent Schedule Start Date”), Rent and Expenses due and payable by Tenant
under the Lease will be altered as follows:

         

        
          	
                  a)  

                	
                  The
      Monthly Base Rent due and payable for the entirety of Tenant’s Premises
      (other than for Suite 370, if in fact Tenant still occupies that Suite as
      of the New Rent Schedule Start Date) shall be $48,500.00.  That
      Monthly Base Rent amount shall increase three percent (3%) upon the first
      anniversary of the New Rent Schedule Start Date and annually thereafter
      throughout the Lease Term.  This Monthly Base Rent shall be
      deemed fully net of all Operating Expenses and Taxes except in the case of
      Suite 395, which is more fully discussed below.  If Tenant
      continues to occupy Suite 370 after the New Rent Schedule Start Date, then
      it shall continue to pay Monthly Base Rent (as well as all Operating
      Expenses and Taxes) for that Suite per the terms of the Fifth Amendment
      until such time as Tenant vacates that suite, leaving it in the condition
      required by the Lease.

                

        

         

        
          	
                  b)  

                	
                  For
      the period from the Suite 525 Commencement Date and the New Rent Schedule
      Start Date (in the event those two dates are not the same), Tenant shall
      continue to pay the amounts of rent and expenses currently specified under
      the existing Lease for all of its existing suites, and shall pay $896.16
      per diem in regards of all Base Rent and Operating Expenses and Taxes due
      for Suite 525.

                

        

         

        
          	
                  c)  

                	
                  Commencing
      on the New Rent Schedule Start Date, the entirety of Tenant’s Premises and
      its Lease thereof shall be deemed fully net of all Operating Expenses and
      Taxes for the remainder of the Lease Term.  In addition to
      Monthly Base Rent, Tenant shall be obligated to pay Rent Adjustments and
      Rent Adjustment Deposits per the terms of the Lease, and all references to
      “Base Year” that appear in the definitions of Rent Adjustments and Rent
      Adjustment Deposits, Operating Expenses, Taxes and in Lease Sections
      1.1(13) and 4.1 shall no longer apply.  There shall be two
      exceptions to the above:

                

        

         

        
          	
                  i)  

                	
                  As
      long as it continues only to be used only for storage, Landlord has agreed
      that Suite 395 shall not subject to a share of Operating Expenses and
      Taxes.

                

        

         

        
          	
                  ii)  

                	
                  As
      it relates to Suites 525, 550, 575 and 580, for the period from the New
      Rent Schedule Start Date through October 31, 2009, Landlord has agreed to
      fix Tenant’s Rent Adjustments (i.e. fix its share of Operating Expenses
      and Taxes due on those suites) at $22,668 per month.  Beginning
      November 1, 2009 and thereafter through the Lease Term Tenant shall pay
      its otherwise-calculated share of Operating Expenses and
      Taxes.

                

        

         

                    V.   PARKING:

         

        As of the
Sixth Amendment Effective Date, Tenant shall be entitled under the Lease to use
a total of up to fifty-four (54) ) unreserved parking stalls in the Terraces
Garage at Landlord’s quoted rates, which number shall not be subject to downward
adjustment due to the termination of either Suites 360 nor
370.  Tenant shall have the right twelve (12) of these total parking
spaces be located on the so-called “Amtrak” lot immediately east of the
Building.  Landlord reserves the right to relocate those spaces
elsewhere in the event of that site being developed.  Further, Tenant
shall have the right five (5)  spaces of its total parking allotment
be so-called “premium” spaces located in the parking garage in the ground level
of the Building, for which Tenant shall pay  Landlord’s quoted rates
for such premium spaces.

         

           VI.  SECURITY
DEPOSIT:

         

        In
consideration of Landlord’s willingness to lease Suite 525 to Tenant, Tenant
shall increase its Security Deposit under the Lease by a total of $27,282.12, as
follows:

         

        
          	
                  a)  

                	
                  Within
      five (5) business days of the Sixth Amendment Effective Date, Tenant shall
      remit  to Landlord $12,330.08 in good and collectible funds,
      and

                

        

         

        
          	
                  b)  

                	
                  Tenant
      agrees that Landlord shall not return the $14,952.04 Security Deposit
      originally applicable to Suite 370 once Tenant’s lease thereon is
      terminated per Section II above.

                

        

         

                       
VII.   MISCELLANEOUS:

         

        
          	
                  a)  

                	
                  Landlord
      and Tenant agree that Section VIII of the Fourth Amendment, relating to
      potential relocation by Tenant to EmeryStation East, is
    void.

                

        

         

        
          	
                  b)  

                	
                  Tenant
      represents and warrants that it has represented itself in the above
      transactions and that no brokerage commission will be due and payable by
      Landlord as a result hereof.

                

        

         

        Except
for those terms outlined above, all other terms and conditions of the Lease
shall apply.  Except as modified hereby, the Lease is ratified and
confirmed in its entirety.

         

        In
witness hereof, the parties have executed this Fourth Amendment as of the date
noted below.

      
        Dated:  August
13, 2008

         

        TENANT:                                                                               LANDLORD:

        NovaBay
Pharmaceuticals,
Inc.                                                          Emery
Station Office II, LLC

        A
California
Corporation                                                                      A
California Limited Liability Company

         

        /s/
Thomas
Paulson___________________                                  /s/
Richard K
Robbins________________

                    Chief
Financial
Officer                                                                 Managing
Manager

         

               

      

        
          
             

          

          
             

            
              

            

          

          
             

          

        

       

       

      EXHIBIT
A

      Space
Plan of Suite 525exhibit10_1.htm

    Exhibit
10.1

     

    SALES
AND PURCHASE AGREEMENT ON OFFICE UNITS AT 17 JINYUN ROAD, BEIBEI,
CHONGQING

    

    Party A
refers to Jia Sheng Hechuan Development Co., Ltd. of Chongqing Hechuan No 2.
Ruishan Silu, Chongqing and Party B refers to Trio-Tech Chongqing Co., Ltd.,
“Buyer.”

    

    Whereas

    

    Party A
and Party B entered into a series of 6 Sale and Purchase Agreements concerning 3
units of non-residential property units and 3 units of residential property of
the project Jiashengjingyunhuafu. Clause 1 to 4 of the Chinese agreement is
summarized in the following table.

    

    
      
        	
                Units

              	 Agreement
      No. 	 Type	 Block
      Unit No.	
                 Area
      (Sqm)

              	
                Px/Sqm

              	
                Total
      Px (RMB)

              
	 	 	 	 	 	 	 
	1	CQ-367385	Commercial	301-01 	320.29 	4134 	1,324,078.86
	2	CQ-367213	Commercial	302-01 	257.04 	7254 	1,864,568.16
	3	CQ-367491	Commercial	401-01	312.65 	4134 	1,292,495.10
	4	CQ-367450	Commercial	402-01	270.08 	7254 	1,959,160.32
	5	CQ-367699 	Residential	403-02 	115.82 	2600 	301,132.00
	6	CQ-367715 	Residential	1403-03 	115.82 	2600 	301,132.00

      

    

     

    Clause
1.

    

    Name of
Property: JiashengJingyunhuafu

    Usage:
For Rental

    

    Clause
2.

    

    The
units’ ownership certificate number is: 422

    

    Clause 3.

    

    The
building has in total 13 stories of commercial and residential
space.

    

    Clause 4.

    

    The total
purchase price for the 6 units purchased is RMB 7,042,566.44.

    

    Clause 5.

    

    The
investment will be paid via HuaXia Bank Shares Co., Ltd. Payment
Mode:

    

    i) 10%
upon signing of Agreement

    ii) 50%
upon registration of Agreement

    iii) 40%
upon handing over the property

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Clause
6.

    

    In the
event that the property size or structure differs from the agreement, the
agreement will follow the contract; in the event that the difference is less
than 3%, Party A will be able to compensate the difference. If the difference is
more than 3%, Party B reserves the right to terminate the
agreement.

    

    In the
event that Party B returns the units, Party A shall within 30 days of the notice
of termination compensate Party B the unit price paid and the interest according
to the bank rate.

    

    In the
event that Party B does not wish to return the units, Party A will compensate
the difference of up to 3% to Party A.

    

    Clause
7.

    

    Party A
shall handover the premises to Party B before December 31, 2008.  In
the event that Party A is unable to handover before the deadline, Party A should
notify Party B.

    

    Clause 8.

    

    Party A
shall inform Party B to prepare to takeover the premises seven days before the
actual handover. Both parties shall go through a check first and both parties
shall sign the handover documents. Party A will provide Party B documents
regarding the property guarantee and the use of the property.

    

    Clause 9.

    

    N/A

    

    Clause 10.

    

    N/A

    

    Clause 11.

    

    Party A
guarantees that the property sold is free from any encumbrances and
disputes.

    

    Clause 12.

    

    Party A
will inform Party B should there be any changes in the design and layout within
10 days after getting the approval from the approving government bodies, failing
which Party B will have the right to return the property to Party A. Party B
should respond within 15 days whether they still wish to keep the property or
return the property to Party A. If Party B wants to return the property, Party A
requires Party B to send in a request within 30 days to refund the money to
Party A together with the interest at the prevailing bank rate.

    

    Should
Party B decide to keep the property, Party B should sign another agreement with
Party A in acceptance of the property.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Clause
13.

    

    Within 30
days of signing the agreement, both parties will apply to the relevant
registration authorities for the transfer of the property rights.

    

    Clause 14.

    

    N/A

    

    Clause 15.

    

    Party A
is to adhere to the regulations to build the property and is not to change
anything of its own accord.

    

    Clause 16.

    

    N/A

    

    Clause 17.

    

    Party A
shall ensure that the supply of electricity, water and gas is activated before
December 31, 2008.

    

    Clause
18.

    

    Party B
should abide by the rules of the agreement (property maintenance). In the event
of damages under unforeseen circumstances, Party A will not be responsible for
the damages, but will assist to reinstate or repair, and all such costs will be
borne by Party B.

    

    Clause
19.

    

    Usage of
the building and the units are subjected to the regulations of the country and
the city.

    

    Clause
20.

    

    With
regards to the outside walls and signboards, Party B is not allowed to alter the
units’ main structure and authorized usage for the units. Party B is authorized
to use the common shared areas and facilities around the units but has no rights
to make any changes to the common shared areas. As currently there is no
management committee, Party B is to entrust the management of the units to
existing property management services offered by the present
management.

    

    Clause
21.

    

    Party B
should have read the maintenance agreement and the regulations governing this
property before signing the agreement.

    

    Clause
22.

    

    Fees and
expenses, including taxes, related to this Sales & Purchase Agreement shall
be borne by both Party A and Party B.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Clause 23.

    

    N/A

    

    Clause
24.

    

    In the
case of disputes, both parties will first go into mutual discussion, and in the
event of disagreement, the disputes will be settled in the Chinese court of
law.

    

    Clause
25.

    

    Whatever
matters arising from the contract after the agreement has been signed can be
resolved via ordinary resolutions.

    

    Clause
26.

    

    The
supplementary agreements shall have the same effect as this main
agreement.

    

    Clause 27.

    

    N/A

    

    Clause
28.

    

    This
agreement is effective within the date herein and both parties are to sign the
agreement.

    

    Party
A                                                                                                Party
B

    

    Zhang
Xiao
Dong                                                                                 Victor
Ting

    Legal
Representative                                                                           Legal
Representative

    Date:
October 23,
2008                                                                      Date:
October 23, 2008

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