Document:

Exhibit 10.2

 

FOURTH
ADDENDUM TO LEASE AGREEMENT WITH

OPTION TO PURCHASE

 

THIS
FOURTH ADDENDUM TO LEASE AGREEMENT (this “Addendum”), dated this 22nd day of
December, 2009, by and between VIKING PROPERTIES, LLC, an Indiana limited
liability company, and LOGAN INDIANA PROPERTIES, LLC, an Indiana limited
liability company (collectively “Landlord”) and ACCURIDE CORPORATION, a
Delaware corporation, (“Tenant”).

 

WITNESSETH, THAT:

 

WHEREAS, Woodward, LLC, as the landlord, and Tenant
have heretofore executed a certain Lease with Option to Purchase dated the 26th day of October, 1998, as amended by the First
Addendum to Lease Agreement with Option to Purchase dated the 6th day of January, 1999, as further amended by
the Second Addendum to Lease Agreement with Option to Purchase dated effective
the 1st day of November, 1999, and as amended by the
Third Addendum dated effective the 1st day of June 2008
(collectively the “Lease”); and

 

WHEREAS, the Landlord is the assignee and the
successor-in-interest to the interests of Woodward, LLC, as the landlord, under
the Lease; and

 

WHEREAS, on October 8, 2009 (the “Petition Date”),
Tenant filed a petition with the United Stated Bankruptcy Court for the
District of Delaware under chapter 11 of the Bankruptcy Code , Case No. 09-13449
(BLS); and

 

WHEREAS,
The Tenant has filed its First Amended Plan of Reorganization for Accuride
Corporation et al. (as amended from time to time, the “Plan”).  The Tenant will seek entry of an order
confirming the Plan (the “Confirmation Order”). 
The Plan will become effective upon the occurrence of the Effective Date
(as such term is defined in the Plan) of the Plan (the “Plan Effective Date”);
and

 

WHEREAS, the Landlord and Tenant desire to amend the
Lease with regard to the term, capital investment and certain other matters and
desire to make such amendments effective as of the Plan Effective Date; and

 

NOW, THEREFORE, in consideration of the
recitals and in consideration of the mutual promises and covenants hereinafter
set forth, and other valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.  Effective Date/Condition
Precedent.  The
modifications to the lease agreement reflected in this 4th Addendum will be effective as of Plan
Effective Date.  The occurrence of the
Plan Effective Date shall satisfy all conditions precedent, and no further
action shall be required by any of the parties hereto in order to make this 4th Addendum effective.  All conditions and obligations as set forth
in the Lease through the 3rd Addendum shall remain in effect
until the Plan Effective Date.

 

1

 

2.  Term.  The second grammatical sentence of Section 2.01
of the Lease shall be deleted in its entirety and the following shall be
inserted in the Lease, in lieu thereof, as if originally part of the Lease:

 

“The
term of the lease shall expire five (5) years from the Plan Effective
Date, subject to renewal as provided for herein below.”

 

3.  Monthly Rental.  Section 1.01 of the Lease shall be
modified to read as follows, as if originally part of the Lease:

 

“1.01:  MONTHLY RENTAL:

 

Five
Year Term                     The monthly
rental amount shall be Forty Thousand

Commencing
On                   Eight Hundred and
00/100 Dollars ($40,800.00) per month, the Plan Effective Date representing an
annual rate of Fourteen and 40/100 Dollars ($14.40) per square foot.

 

4.  Renewal of Lease.  Section 25.01 of the Lease shall be
modified to read as follows, as if originally part of the Lease:

 

“25.01:  RENEWAL OF LEASE:  Provided that the Tenant is not in default,
at the end of the current term of the Lease, which expires five (5) years
from the Plan Effective Date, the Tenant shall have the right to renew and
extend the term of this Lease for two (2) separate successive additional
terms of five (5) years each.  To
exercise the right to renew and extend the term of this Lease for an additional
five (5) year term, Tenant shall provide written notice to the Landlord of
its desire and intent to extend and renew the term of this Lease which notice
must be provided not less than six (6) months prior to the end of the then
current Lease term.  The rental rate for
each renewal term shall be at the then current market rate but not to exceed an
annual rate of Seventeen and 71/100 Dollars ($17.71) per square foot.  If the Tenant and the Landlord are unable to
agree upon the current market rental rate in any renewal term, and Tenant still
desires to renew the Lease, Landlord and Tenant shall submit the matter to
arbitration pursuant to Section 34.01 of the Lease.”

 

5.  Capital for Improvements.  The following provision shall be added as Section 38.01
to the Lease, as if originally part of the Lease:

 

“38.01
ADDITIONAL CAPITAL FOR IMPROVEMENTS:  At
Tenant’s option, Tenant may choose to draw up to One Hundred Fifty Thousand
Dollars ($150,000.00) as a capital contribution from Landlord to be used for
improvements to the existing Leased Premises. 
Upon written notice to Landlord of this draw, the requested money shall
be paid to Tenant in a lump sum amount within five (5) business days of
such notice.  This money, if drawn, will
be repaid as additional monthly rent amortized over the then remaining term of
the Lease at an interest rate 

 

2

 

of
thirteen percent (13%).(1)   Tenant
may repay the principal on this capital draw at any time with no penalties,
along with any interest that would have accrued to that point”

 

6.  Alterations.  The following shall be added as the second
sentence of Section 6.01 of the Lease, as if originally part of the Lease:

 

“The parties have
conceptually agreed upon alterations to allow Tenant to implement a shared
services center and alterations to the building to provide a more open
architecture.  Such alterations shall be
subject to final approval by the Landlord whose approval shall not be
unreasonably withheld.”

 

7.  Events of Default by
Landlord.  Section 14.01(a) of
the Lease shall be modified to change the word “TENANT” to “LANDLORD,” as if
originally reflected in the Lease.

 

8.  Notices.  Section 22.01 of the Lease shall be
modified to list the following contact for notices to the Tenant going forward:

 

“Attention:            General Counsel

Accuride Corporation

7140 Office Circle

Evansville, IN 47715

Facsimile Number: 
(812) 962-5030.”

 

9.  Intent of the Parties.  It is the intent and desire of the parties to
amend and modify the terms and conditions of the Lease in accordance with the
terms of this Addendum as if the Lease originally contained such terms and
conditions as set forth herein.  As
amended by this Addendum, the parties hereto hereby ratify and confirm the said
conditions shall remain in full force and effect.  In the event any of the terms and conditions
of the Lease are in conflict with the terms and conditions of this Addendum,
the terms and conditions of this Addendum are paramount and this Addendum shall
govern the terms of the relationship of the parties and the Lease shall be
construed accordingly.

 

(1) For
example:  If $150,000 is drawn and paid
with the full five (5) year term remaining, this would be monthly payments
of $3,412.00 in addition to regular monthly lease payments.

 

3

 

10.  Authority to Execute.  The individual(s) executing this Addendum
on behalf of the Tenant and Landlord represent and warrant that they are duly
authorized to deliver this Addendum and that this Addendum is binding upon each
party in accordance with its terms.

 

 

	
   

  	
  VIKING PROPERTIES, LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/
  Thomas B. Logan

  
	
   

  	
   

  	
  Thomas B. Logan, Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LOGAN INDIANA PROPERTIES,
  LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/
  Thomas B. Logan

  
	
   

  	
   

  	
  Thomas B. Logan, Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “Landlord”

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ACCURIDE CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
      /s/
  James H. Woodward, Jr.

  
	
   

  	
   

  	
  James Woodward, Chief
  Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  “Tenant”

  

 

4Exhibit
10.3

 

FOURTH AMENDMENT TO AMENDED AND RESTATED BUILD TO
SUIT INDUSTRIAL LEASE AGREEMENT

 

THIS FOURTH AMENDMENT TO AMENDED
AND RESTATED BUILD TO SUIT INDUSTRIAL LEASE AGREEMENT (this “Fourth
Amendment”) is made and entered into as of the 18th day of February, 2010, by and
between INDUSTRIAL REALTY PARTNERS, LLC, a Tennessee limited liability company
(“Lessor”), and IMPERIAL GROUP, L.P., a Delaware limited partnership (“Lessee”).
All capitalized terms which are used but not otherwise defined herein shall
have the same meanings ascribed to them in the Lease (hereinafter defined).

 

WITNESSETH:

 

WHEREAS, Lessor and Lessee entered into that
certain Amended and Restated Build to Suit Industrial Lease Agreement dated March 17,
2000, as amended by that certain First Amendment to Amended and Restated Build
to Suit Industrial Lease Agreement dated June 22, 2000, as further amended
by that certain Second Amendment to Amended and Restated Build to Suit
Industrial Lease Agreement dated August 1, 2000, as further amended by
that certain Third Amendment to Amended and Restated Build to Suit Industrial
Lease Agreement dated August 31, 2000 (as amended, the “Lease”);
and

 

WHEREAS, on October 8, 2009 (the “Petition
Date”), Lessee’s parent company, Accuride Corporation (“Accuride”),
filed a petition with the United States Bankruptcy Court for the District of
Delaware under chapter 11 of the Bankruptcy Code, Case No. 09-13349; and

 

WHEREAS,
Accuride  has filed its Third
Amended Plan of Reorganization for Accuride Corporation et al. (as
amended from time to time, the “Plan”) and Accuride  will
seek entry of an order confirming the Plan; and

 

WHEREAS, Lessor and
Lessee desire to amend the Lease with regard to the term and certain other
matters and desire to make such amendments effective as of the Effective Date
(as such term is defined in the Plan) of the Plan (the “Plan Effective Date”),
all as more particularly set forth herein.

 

NOW, THEREFORE, for and in consideration of the mutual covenants herein
contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Lessor and Lessee hereby agree as
follows:

 

1.             Effective Date.  The modifications
to the Lease reflected in this Amendment will be effective as of the Plan
Effective Date.

 

2.
            Term.  Section 4(A) of the Lease is hereby
amended in all respects necessary to reflect that the Initial Term is hereby
extended to the date which is ten (10) years from the Plan Effective Date.

 

3.             Rent.  Sections 5(A) and 5(B) are hereby
amended in all respects necessary to reflect that, commencing on the Plan
Effective Date, the Base Rent shall be $3.09 per square foot of the
Premises.  The Base Rent shall increase
by two percent (2%) per annum on the first (1st) anniversary of the Plan Effective Date and by two
percent (2%) per annum on each successive anniversary of the Plan Effective
Date thereafter.

 

4.             Purchase Option.  Section 36 is hereby amended to delete
the third grammatical sentence thereof and insert the following sentence in
lieu thereof:

 

 

“In
the event that the Lessee does not enter into a binding contract to purchase
the Premises during such sixty (60) day period, then, subject to Lessee’s right
of first refusal set forth in Section 37 hereof and Lessee’s Option to
Purchase (hereinafter defined) set forth in Section 42 hereof, the Lessor
shall have the right to sell the Premises to a third party upon terms and
conditions acceptable to the Lessor.”

 

5.             Amendments to paragraphs 36 and 37.  The Lease is hereby amended by deleting the following
sentence which was added by the Third Amendment to the end of each of paragraph
36 and 37:

 

“In
the event Lessee purchases the Premises pursuant to this paragraph, Lessee
shall be entitled at the closing of the purchase thereof to a credit against
the purchase price in an amount equal to five (5%) percent of the gross
purchase price (provided, however, that the terms and provisions of this
paragraph are subject to the terms and provisions of that certain Specific
Assignment, Subordination, Non-Disturbance and Attornment by and among Lessor,
Lessee and Aid Association for Lutherans).”

 

6.             Right of Early Termination.  The following Section 41 is hereby added
to the Lease as if originally part of the Lease:

 

“41.         Right
of Early Termination.  Notwithstanding
anything to the contrary contained herein, Lessee shall have a continuing
option to terminate the Lease (“Termination Option”), which termination
may occur at any time on or after March 1, 2016.  If Lessee desires to exercise the Termination
Option, Lessee shall deliver Lessor written notice of Lessee’s exercise of the
Termination Option, which notice must be received by Lessor no later than six (6) months
prior to the desired termination date, which will be specified in the Lessee’s
notice (the “Early Termination Date”) and which notice shall be
accompanied by a termination fee in an amount equal to six (6) months of
rent at the then applicable base rate, which such termination fee shall be
fully refundable to Lessee in the event the Lease is not terminated for any
reason.  If Lessee exercises its
Termination Option in accordance with the foregoing, this Lease shall terminate
as of 11:59 p.m. on the Early Termination Date.

 

7.
            Option to Purchase.  The following Section 42 is hereby added
to the Lease as if originally part of the Lease:

 

“42.         Option
to Purchase:  At any time prior to
the expiration of the then current term of this Lease (i.e., the Initial Term
or any Renewal Term, as applicable) Lessee, upon giving written notice to
Lessor (the “Option Notice”), shall have the right to purchase the
Premises as set forth in this Section 42 (the “Option to Purchase”).  The purchase price shall be the Fair Market
Value of the Premises as established pursuant to the appraisal procedure
described on Exhibit “C” attached hereto.  If the Option to Purchase is exercised (i) the
purchase price shall be paid at closing, which shall take place ninety (90)
days following Lessor’s receipt of the Option Notice; (ii) Lessee shall
take title subject only to those encumbrances of record in the Register’s
Office of Sumner County, Tennessee as of the Plan Effective Date (exclusive any
instrument evidencing a monetary lien, all of which shall be satisfied by
Lessor and released of record at or prior to closing) and real property taxes
for the then current year, but Lessee shall not be obligated to take title
subject to any other lien or other encumbrance; (iii) adjustment and
prorations for taxes, utility charges and insurance premiums are to be made as
of the date of closing; (iv) the deed shall be a special warranty deed
conveying marketable and insurable fee simple title to the Premises, subject
only to the exceptions hereinabove referred to; (v) Lessor shall furnish
Lessee an ALTA (Form B) owner’s policy of title insurance insuring title
to the Premises subject only to the foregoing exceptions and to such other
exceptions as Lessee may waive in writing; and (vi) 

 

2

 

Lessor
will pay all customary closing costs except that Lessee shall be responsible
for recording costs, transfer taxes and its own attorney’s fees.

 

The parties hereby acknowledge and agree that the Option to Purchase
set forth in this Section 42 shall be independent of and in addition to
the purchase option set forth in Section 36 hereof.”

 

8.
            Memorandum of Lease.  On the Plan Effective Date, the parties
hereto agree to execute and deliver an amendment to the Memorandum of Lease, or
other such instrument in recordable form, memorializing the Option to Purchase
set forth in Section 42 hereof.

 

9.             Exhibit C.  Exhibit C attached hereto is hereby
incorporated into and made a part of the Lease.

 

10.           Counterparts.  This Amendment may be executed in several
counterparts, as long as each party to this Amendment executes at least one
such counterpart.  Each of such
counterparts shall be an original but all of the counterparts, when taken
together, shall constitute one and the same instrument and shall become
effective when each party hereto has executed at least one such counterpart.
The parties hereto agree that a facsimile signature shall constitute an
original signature hereunder.

 

11.           No Other Modifications.  Except as expressly provided hereby, the
terms and provisions of the Lease shall continue in full force and effect.

 

[signature page follows]

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed as of the day first above written.

 

 

	
   

  	
  LESSOR:

  
	
   

  	
   

  
	
   

  	
  INDUSTRIAL
  REALTY PARTNERS, LLC, a Tennessee limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Joe A. Hicks

  
	
   

  	
  Name:

  	
  Joe
  A. Hicks

  
	
   

  	
  Title:

  	
  Chief
  Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LESSEE:

  
	
   

  	
   

  
	
   

  	
  IMPERIAL
  GROUP, L.P., a Delaware limited partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  William M. Lasky

  
	
   

  	
  Name:

  	
  William
  M. Lasky

  
	
   

  	
  Title:

  	
   

  

 

 

Guarantor
joins in the execution of this Fourth Amendment to the Lease solely for the
purposes of consenting to the modifications to the Lease made herein.

 

GUARANTOR:

 

TRANSPORTATION
TECHNOLOGIES

INDUSTRIES,
INC., a Delaware corporation

 

	
  By:

  	
  /s/
  William M. Lasky

  	
   

  
	
  Name:

  	
  William
  M. Lasky

  	
   

  
	
  Title:

  	
   

  	
   

  

 

4

 

JOINDER TO FOURTH AMENDMENT TO

AMENDED AND RESTATED BUILD TO SUIT INDUSTRIAL LEASE AGREEMENT

 

The
undersigned, being the successor in interest to Aid Association for Lutherans
(the “Lender”) and the holder of the indebtedness which is secured, in
part, by a deed of trust lien on the Premises, joins in the execution of this
Fourth Amendment to Amended and Restated Build to Suit Industrial Lease
Agreement for the sole purposes of (a) consenting to the terms of such
amendment, (b) agreeing that, nothwithstanding anything to the contrary
set forth in that certain Specific Assignment Subordination, Nondisturbance and
Attornment Agreement dated as of September 19, 2000, by and between
Lessee, Lessor and Lender, of record at Book 1163, page 690, Register’s
Office for Sumner County, Tennessee, Lender hereby agrees that the early
termination option set forth in Section 41 of the Lease (as amended) shall
survive any foreclosure of Lender’s lien on the Premises, any purchase
conducted in connection therewith, or any conveyance pursuant to a deed-in-lieu
of foreclosure (collectively, the “Default Conveyances”) and be binding
upon any successors to Lessor following a Default Conveyance, subject to the
terms of the Lease (as amended), and (c) agreeing that Lender shall give
written notice to Tenant prior to any foreclosure by Lender of its lien on the
Premises.

 

Lender:

 

Thrivent
Financial for Lutherans

 

	
  By:

  	
  /s/
  Wayne C. Streck

  	
   

  
	
  Name:

  	
  Wayne
  C. Streck

  	
   

  
	
  Title:

  	
  Ass’t
  Vice President

  	
   

  

 

	
  Date:

  	
  2-18-2010

  	
   

  

 

5

 

Exhibit C

 

Appraisal Process to Establish Fair
Market Value

 

“Fair Market Value” of the Premises shall
mean the value of the Premises as determined in this Exhibit “C”.  Not later than the (10) business days
after Lessor’s receipt of the Option Notice, Lessor and Lessee shall each
select one Appraiser (as defined below) to participate in the determination of
Fair Market Value .  For all purposes
under this Lease, the Fair Market Value of the Premises shall be based on the
Fair Market Value of the Premises unencumbered by this Lease.  Within five (5) business days of such
selection, the Appraisers so selected by Lessor and Lessee shall select a third
Appraiser.  The three (3) selected
Appraisers shall each determine the Fair Market Value of the Premises within
thirty (30) days of the selection of the third appraiser.  Each of Lessee and Lessor shall pay the fees
and expenses of any Appraiser which such party appoints pursuant to this Exhibit plus
50% of the cost of the third appraiser.

 

In the event either Lessor or Lessee
fails to select a Appraiser within the time period set forth in the foregoing
paragraph, the Appraiser selected by the other party shall alone determine the
Fair Market Value of the Premises in accordance with the provisions of this Exhibit and
the Fair Market Value so determined shall be binding upon Lessor and Lessee.

 

In the event the Appraisers selected by
Lessor and Lessee are unable to agree upon a third Appraiser within the time
period set forth in the first paragraph of this Exhibit, either Lessor or
Lessee shall have the right to apply at their mutual expense to the presiding
judge of the court of original trial jurisdiction in the county in which the
Premises is located to name the third Appraiser.

 

Within five (5) business days after
completion of the third Appraiser’s appraisal, all three Appraisers shall meet
and a majority of the Appraisers shall attempt to determine the Fair Market
Value of the Premises.  If a majority are
unable to determine the Fair Market Value at such meeting, the three appraisals
shall be added together and their total divided by three.  The resulting quotient shall be the Fair
Market Value of the Premises.  If,
however, either or both of the low appraisal or the high appraisal are more
than ten percent (10%) lower or higher than the middle appraisal, any such
lower or higher appraisal shall be disregarded. 
If only one appraisal is disregarded, the remaining two appraisals shall
be added together and their total divided by two, and the resulting quotient
shall be such Fair Market Value.  If both
the lower appraisal and higher appraisal are disregarded as provided herein,
the middle appraisal shall be such Fair Market Value.  In any event, the result of the foregoing
appraisal process shall be final and binding.

 

Lessor and Lessee will exercise their
respective best efforts to expedite the appraisal process and will cooperate
fully and with all deliberate speed with each other and with all appraisers in
order to allow the determination of Fair Market Value to be finally
completed.  Notwithstanding anything else
in this Exhibit, if any appraiser appointed hereunder fails to complete his or
her report  within thirty (30) days
of his or her appointment, the Fair Market Value of the Premises will be
determined by reference to the other report or reports completed within such
period.

 

“Appraiser” shall mean an appraiser
licensed or otherwise qualified to do business in Tennessee and who has
substantial experience in performing appraisals of facilities similar to the
Premises.

 

6

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