Document:

ex_126962.htm

Exhibit 10.02

 

First Amendment to 

Amended and restated EMPLOYMENT AGREEMENT

 

This First Amendment (“Amendment”) to the Amended and Restated Employment Agreement by and between Natural Alternatives International, Inc., a Delaware corporation (“Company”), and Kenneth E. Wolf (“Employee”), dated effective as of October 1, 2015 (“Agreement”), is made and entered into effective as of July 1, 2018. Unless otherwise defined herein, capitalized terms shall have the meanings given them in the Agreement.

 

1.      Pursuant to Section 4(a) of the Agreement, Employee’s base salary is hereby increased to Four Hundred Thousand dollars ($400,000) per year.

 

2.     Except as set forth herein, all other terms and conditions of the Agreement shall remain in full force and effect.

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of September 20, 2018.

 

 

EMPLOYEE

 

 

/s/ Kenneth E. Wolf                     

Kenneth E. Wolf

 

 

COMPANY

 

Natural Alternatives International, Inc.,

a Delaware corporation

 

 

/s/ Mark LeDoux                    

Mark LeDoux, Chief Executive Officerex_126969.htm

Exhibit 10.03

 

Second Amendment to 

EMPLOYMENT AGREEMENT

 

This Second Amendment (“Amendment”) to the Employment Agreement by and between Natural Alternatives International, Inc., a Delaware corporation (“Company”), and Michael E. Fortin (“Employee”), dated effective as of October 1, 2015, and previously amended effective September 1, 2016 (“Agreement”), is made and entered into effective as of July 1, 2018. Unless otherwise defined herein, capitalized terms shall have the meanings given them in the Agreement.

 

1.      Pursuant to Section 4(a) of the Agreement, Employee’s base salary is hereby increased to Two Hundred Twenty-Five Thousand dollars ($225,000) per year.

 

2.     Except as set forth herein, all other terms and conditions of the Agreement shall remain in full force and effect.

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of September 20, 2018.

 

 

EMPLOYEE

 

 

/s/ Michael E. Fortin                    

Michael E. Fortin

 

 

COMPANY

 

Natural Alternatives International, Inc.,

a Delaware corporation

 

 

/s/ Kenneth E. Wolf                    

Kenneth E. Wolf, Presidentex_126970.htm

 

TARCHINI REAL ESTATE SA - Manno, Centro Galleria 3, further mentioned as landlord and represented by Mrs. Alessandra Tarchini Marra and Mrs Giorgia Tarchini Gygax (VAT # CHE-100.072.922)

 

 

 

 

and

 

 

 

 

NAIE NATURAL ALTERNATIVES INTERNATIONAL EUROPE SA –

 

Manno,

 

Centro Galleria 1, further mentioned as tenant, represented by Mr. Mark

 

LeDoux and Mr. Fausto Petrini (VAT # CHE-105.013.401)

 

 

 

 

enter the following

 

 

 

 

LEASE CONTRACT

 

 

 

 

1.

 

TARCHINI      REAL      ESTATE     SA     –     Manno,      lease     to      NAIE      NATURAL ALTERNATIVES INTERNATIONAL EUROPE SA – Manno a surface of

 

8'153.39 sqm, located in the building Centro Galleria 1, Map 433 in Manno, ground and first floors

 

 

2.

 

The leased surface is highlighted in yellow in the attached layouts, the areas are identified as # 1, 2, 4, 5, 6, 7, 8, 10, 11, 12, 13, 15, 16, 17, 18, 22, 25, and 31.

 

 

3.

 

The tenant will use the areas as offices, laboratory, warehouse and production, in agreement with the current regulations.

 

 

4.

 

The lease is effective as of July 01, 2019 for a 5-year duration having a binding expiry on June 30, 2024. Nonetheless, if none of the parties will terminate the lease on maturity by means of a written registered letter to

 

address to the landlord one year ahead, the lease shall be considered renewed for a further period of one year.

 

 

 

 

LEASE

 

 

 

 

5.

 

The yearly lease is fixed at CHF 1’250’000.- (one million two hundred fifty thousand/00 Swiss francs) VAT excluded, property expenses included, payable in advance with quarterly settlements on January 01, April 01, July

01 and October 01 of every year.

 

 

Overdue settlements of the quarterly lease portions will be increased by an interest rate of 7% (seven percent).

Upon 1 month delay of the lease portion payments, the landlord has the faculty to initiate a legal recovery, being the present contract an acknowledgement of indebtedness as per article 82 – LEF (National Law on Failure & Insolvency).

 

 

6.

 

The existing deposit # 550557-10 of CHF 45’103.70 executed on May 07, 2003 in favor of the landlord at the Credit Suisse bank guarantees any subsequent duty deriving from the present contract.

 

 

 

 

LEASE INDEXING

 

 

7.

 

The lease is index-linked. It will be yearly adjusted to the national cost of living index with one-month notice.

Contract initial index: 336.20.

 

The first adjustment may occur on July 01, 2020.

 

 

8.

 

In the event the tenant, for whatever reason, would not leave the leased areas at the contract termination date or at any extended date settled by the judge, the tenant already agrees to pay to the landlord a lease equivalent to

 

150% of the last lease for the months the tenant will occupy the areas,

 

against the landlord’s will.

 

 

9.

 

All costs for lightening, power or whatever energy used in the leased areas

 

are at the tenant’s expenses.

 

 

10.

 

The lease includes the property expenses, as well as administration costs, routine maintenance and operating expenses of the shared utilities.

 

 

The following expenses, costs or taxes are included in the lease:

 

 

-     Heating and air conditioning of the offices

 

-     Shared spaces lightening and powering

 

-     Shared spaces drinkable water

 

-     Sewage and cleansing

 

-     Gardening and maintenance of the shared areas

 

-     Snow removal

 

-     Cleaning of the shared spaces.

 

 

 

 

In the event the tenant’s activity would cause a high usage of heating or any other utility, causing an increase in cost above the average, such costs will be at the tenant’s expenses.

 

 

Beside the above mentioned expenses, the property expenses include all expenses as stated in the “Catef” lease contract (Camera Ticinese dell’Economia Fondaria = Tessin Association of the real estate owners).

 

 

11.

 

The landlord will insure the building against fire, whilst the tenant will insure his properties stored in the leased areas against fire, water damages, natural events etc.

 

MODIFICATIONS INTO THE LEASED AREAS

 

12.

 

The tenant is allowed to modify the leased areas at his own expenses and whereas those modifications are necessary to his specific activity, previous written agreement by the landlord.

 

 

13.

 

Upon lease contract termination, the leasehold improvements to walls and building will remain the property of the landlord, with no obligation of refunding from his side, in the event such modifications cannot be removed without causing damages to the structure.

 

 

14.

 

The tenant will pay all costs such as electrical connections to the existing central heating, power system, phone lines already installed in the leased areas. The RASI certifications and all future controls to the electrical system, as legally stated, are at his costs as well (Low tension regulations – OIBT).

 

 

 

 

All electric connections or installations in building Galleria 1 must be carried out by contractors hired by Tarchini Real Estate SA.

 

 

The phone connections will be ruled by a separate contract between the landlord and tenant. The tenant is not allowed to use external phone, fax, telex lines if not connected to the Alcatel main switchboard.

 

 

Parking signals, logos, signs will be placed by the company SPM S.A. and costs invoiced to the tenant. It is forbidden to place any type of panel, commercial, logo without prior approval by the landlord.

 

DISPUTE AND LITIGATION

 

 

15.

 

Governing Law for any dispute, where not regulated by the present contract, is the Pretura di Lugano (Court of Lugano).

 

 

 

 

16.

 

This contract is undersigned in two originals, one for each party.

 

 

 

 

IN WITNESS WHEREOF, Manno, September 03, 2018

 

 

 

 

The Landlord :     The Tenant :

 

 

TARCHINI REAL ESTATE SA     NAIE NATURAL ALTERNATIVES INT. EUROPE SA

 

 

 

 

/s/ Alessanda Tarchini Marra                           /s/ Mark LeDoux

---------------------------------------     ---------------------------------------------

 

 

/s/ Giorgia Tarchini Gygax                            /s/ Kenneth Wolf

---------------------------------------     ---------------------------------------------

 

 

 

 

TECHNICAL DESCRIPTION OF THE LEASED AREAS

 

NAIE NATURAL ALTERNATIVES INTERNATIONAL EUROPE SA BUILDING : Centro Galleria 1 – Manno

 

FLOOR : Ground and first

 

 

REFERENCES : # 1, 2, 4, 5 ,6, 7, 8, 10, 11, 12, 13, 15, 16, 17, 18, 22, 25, 31

 

 

FINISHES :

 

 

The areas are let in their present state, except for the warehouse inner walls that the landlord will dismantle at his expenses.

 

Manno, September 03, 2018ex_126960.htm

 

1. PARTIES

 

 

Landlord: TARCHINI REAL ESTATE SA – Manno

 

Via Cantonale - Centro Galleria 3 (VAT # CHE-100.072.922)

further mentioned as landlord and represented by Mrs. Alessandra Tarchini Marra and

 

Mrs Giorgia Tarchini Gygax

 

 

Tenant : NAIE NATURAL ALTERNATIVES INTERNATIONAL EUROPE SA – Manno, Via Cantonale - Centro Galleria 1

(VAT # CHE-105.013.401)

 

further mentioned as tenant, represented by Mr. Mark LeDoux and Mr. Fausto Petrini

 

 

2. LEASE OBJECT

 

 

Location: Manno Municipality, Map 433, building Centro Galleria 1

 

n. 16 indoor parking places identified as # 71, 72, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86,

 

87, 88, 89 and n. 39 outdoor parking places identified as # 101, 102, 103, 104, 125, 126, 127,

 

128, 129, 130, 141, 142, 143, 144, 145, 146, 147, 148, 149, 150, 151, 152, 154, 155, 156, 157,

 

158, 159, 164, 165, 166, 230, 231, 232, 233, 234, 235, 236, 237, as highlighted in yellow in the attached layouts.

 

 

3. LEASE TERM

 

 

The lease is effective as of July 01, 2019 having a binding expiry on June 30, 2020. Nonetheless, the tenant has the faculty to renew the present contract for additional 1 (one) year, by means of a written registered letter to address to the landlord six months ahead.

 

 

4. LEASE AMOUNT

 

 

The yearly lease is fixed at CHF 58’680.- (fifty eight thousand six hundred eighty/00

 

Swiss francs), + the yearly connection tax of CHF 48’180.- (forty eight thousand one hundred eighty/00 Swiss francs), for a total amount of 106’860.- (one hundred six thousand eight hundred sixty/00 Swiss francs) VAT excluded, payable in advance with quarterly settlements.

 

4.a

 

 

This contract cancels and replaces all the current lease contracts between Tarchini real estate Sa and NAIE SA and specifically the lease concerning 10 external parking spaces dated 27 February 2017, the lease concerning 2 internal parking lots dated 29 January

2016 and the lease re. 2 internal parking lots dated 30 December 2014, within the building

 

Galleria 1, in Manno.

 

 

5. CONNECTION TAX

 

 

The tenant acknowledges that the State Council has submitted to the High Council the note 7139 dated November 4, 2015 as a review of the Law on Public Transport dated December 6, 1994. The note provides for the introduction of the connection tax against the landlords.

 

 

On June 5, 2016 the cantonal vote has decreed the approval of the connection tax, effective August 2016.

 

 

In the light of the above, the Tenant acknowledges that the rent for each parking place increases of CHF 73.-/month from August 1, 2016 as the above mentioned tax repayment.

 

 

6. FLP – Lugano Rail Project

 

 

The tenant claims to be informed of the content of the above mentioned project concerning the construction of a tram railway, published on the Official Journal 99/2017 dated December 12, 2017.

In particular, the Tenant knows that the project provides for the partial expropriation of Maps # 818, 819, 822, 841 and 885 in Manno and that viability and accessibility might change and the parking places might be reduced.

In this respect, the Tenant should not claim any allowance and/or compensation against the Landlord for any modification of the leased property and for any possible inconvenience or impediment arising under the subject project.

 

 

7. MISCELLANEOUS

 

 

Failing Landlord’s written consensus, it is prohibited for the Tenant to:

 

 

–     Partially or totally sublet or transfer the lease to any third party;

 

	 	
			–

				
			Use the parking garage electricity for different purposes than regular lighting;

			

 

–     Wash/carry out any maintenance works inside the building boundary.

 

 

 

The Landlord declines any responsibility for any damage or accident the vehicles might face.

The Tenant is bound to respect the Fire Department provisions. The vehicles shall be parked facing the wall.

It is forbidden to leave the car running in the parking lot

 

The Tenants shall leave/arrive the most quietly and silently, especially by night. Governing Law for any dispute, where not regulated by the present contract, is the Pretura di Lugano (Court of Lugano).

 

The parties agree on the content of this Lease contract. IN WITNESS WHEREOF,

Manno, September 10, 2018

 

 

 

The Landlord :     The Tenant :

 

 

TARCHINI REAL ESTATE SA     NAIE NATURAL ALTERNATIVES INT. EUROPE SA

 

 

 

 

 

/s/ Alessanda Tarchini Marra                           /s/ Mark LeDoux

---------------------------------------     ---------------------------------------------

 

 

/s/ Giorgia Tarchini Gygax                            /s/ Kenneth Wolf

---------------------------------------     ---------------------------------------------

 

 

 

EDIFICAZIONE AL MAPP. 433 - MANNO

GALLERIA 1 -  PIANO TERRENO

TARCHINI REAL ESTATE SA - Centro Galleria 3 - 6928 Manno

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