Document:

exv10w4

 

EXHIBIT
10.4

2nd AMENDMENT TO LEASE

     This Second
Amendment to Lease is made and entered into this 31st day of January, 2006, by
and between, HEALTH FITNESS CORPORATION d.b.a. HEALTHCALC.NET, INC., hereinafter referred to as
“Tenant” and Parkway Commons, L.P., an Oklahoma limited partnership (formerly CMD Realty Investment
Fund II, Ltd.), hereinafter referred to as “Landlord”;

Whereas, Landlord and Tenant agree that they are the rightful parties to that certain lease
agreement dated September 29, 2003 and Amended April 29, 2005, for Suite 290 at 5068 W. Plano
Parkway, Plano, Texas 75093, and whereas Parkway Commons, L.P. (successor Landlord) and Tenant
desire to modify and extend said lease:

Now, therefore, in consideration of the premises and other good and valuable consideration receipt
of which is hereby acknowledged, the above-referenced lease is amended as follows:

	 	1.	 	Expansion. Commencing on March 1, 2007 (“Expansion Date”) or as soon
as space is available, Landlord and Tenant agree that Tenant shall expand into suite
256 consisting of approximately 2,003 rentable square feet as indicated on “Exhibit A”,
attached hereto and made apart of this lease, for a new total of 6,039 rentable square
feet.
	 
	 	2.	 	Extension. The lease shall be extended to February 28, 2010.
	 
	 	3.	 	Base Rent. Effective March 1, 2007, the Base Rental Rate shall be as follows
for Expansion Premises (2,003) sf):

	 	 	 
	March 1, 2007 – March 31, 2007:

	 	$       0.00/Month
	April 1, 2007 – December 31, 2007:

	 	$3,505.25/Month
	January 1, 2008 – June 30, 2008:

	 	$3,672.17/Month

	 	 	 	Current rent for Existing Premises, Suite 290 (4,036 sf), shall remain the same
through June 30, 2008 as per existing Lease (2/1/07 – 6/30/07 at $6,390/mo. and
7/1/07 – 6/30/08 at $7,399/mo. in addition to expansion space noted above).
	 
	 	 	 	Base Rent for Expansion Premises and Existing Premises (6,039 sf) shall be modified
as follows:

	 	 	 
	July 1, 2008 – December 31, 2008:

	 	$11,071.50/Month
	January 1, 2009 – February 28, 2010:

	 	$11,574.75/Month

	 	4.	 	Tenant Improvements. Landlord shall finish out expansion Premises according to
mutually agreed upon space plan not to exceed $700 per square foot.

 

 

	 	5.	 	Right of First Refusal. Tenant shall have an ongoing Right of First Refusal on
contiguous space, namely Suite 295 comprised of 1,222 rsf available after 1-31-09 and
Suite 250 comprised of 2,174 rsf available after 5-31-07. In the event either current
tenant in Suites 295 or 250 do not vacate the premises on or not later than the
aforementioned respective dates, Tenant shall have the option to terminate said lease
by providing Landlord notice in writing, delivered via certified registered mail with
return receipt with sixty days advance notice of its desire to terminate said lease.
(See Exhibit B and Exhibit B-1).
	 
	 	6.	 	Security Deposit. Tenant shall pay an additional Security Deposit for
Expansion Space; $3,839.08.

     IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first set forth
above.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	LANDLORD:	 	PARKWAY COMMONS, L.P.	 	 
	 	 	 	 	an Oklahoma Limited Partnership,	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Acron Parkway Commons, L.L.C.,	 	 
	 	 	 	 	 	 	an Oklahoma limited liability company	 	 
	 	 	 	 	 	 	it’s general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	Acron (USA), L.P.	 	 
	 	 	 	 	 	 	 	 	a Texas Limited Partnership,	 	 
	 	 	 	 	 	 	 	 	it’s Managing Member	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	By:	 	Acron U.S. Management, Inc.
	 	 	 	 	 	 	 	 	 	 	a Nevada Corporation
	 	 	 	 	 	 	 	 	 	 	it’s general partner
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	By:
	 	/s/ Greg W. Wilson	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 

Greg W. Wilson, President
	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	TENANT:	 	HEALTH FITNESS CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Wesley W. Winnekins
	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	Name:	 	Wesley W. Winnekins
	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	Its:	 	Chief Financial Officer
	 	 
	 	 	 	 	 	 	 	 	 

 

 

EXHIBIT B

Right of First Refusal

     Provided (a) that no Event of Default, assignment or sublease exists under any term or
provision contained in this Lease and no condition exists which with the passage of time or the
giving of notice or both would constitute an Event of Default pursuant to this Lease, (b) that
Tenant has continuously occupied the Premises for the Permitted Use during the Lease Term, and (c)
subject to the pre-existing rights of existing tenants in the Building and other prospective
tenants, Tenant (but not any assignee or subtenant) shall have the ongoing right, subject to the
terms and conditions set forth below, to lease that certain space as described on Exhibit
B-1 attached to this Lease (the “Right of First Refusal Space”) before it is leased to any
third party during the initial Lease Term.

     Subject to the terms above, in the event any third party expresses interest in leasing all or
any portion of the Right of First Refusal Space during the Lease Term (“Third Party Interest”),
Landlord shall offer the entire Right of First Refusal Space to Tenant in writing by certified mail
to either Peter Egan, John Ellis or authorized agent upon the same terms, covenants and conditions
as provided in this Lease for the original Premises, given that the base rent, the length of lease
term, the base year, and the tenant improvement allowance (if any) shall be the same as the terms
included in a written bona fide third party offer for the Right of First Refusal Space which are
acceptable to Landlord. Tenant shall accept the space “As-Is”, and Tenant shall have no further
rights with respect to the Right of First Refusal Space. If Tenant notifies Landlord in writing of
the acceptance of such offer within five days after Landlord has delivered such offer to Tenant,
Landlord and Tenant shall enter into a written agreement modifying and supplementing the Lease and
specifying that such Right of First Refusal Space accepted by Tenant is a part of the Premises
demised pursuant to the Lease for the remainder of the Lease Term and any renewal thereof, if
applicable, and containing other appropriate terms and conditions relating to the addition of the
Right of First Refusal Space to this Lease (including specifically any increase or adjustment of
the rent as a result of such addition). Any termination of the Lease shall terminate all rights of
Tenant with respect to the Right of First Refusal Space. The rights of Tenant with respect to the
Right of First Refusal Space shall not be severable from the Lease, nor many such rights be
assigned or otherwise conveyed in connection with any permitted assignment of the Lease.
Landlord’s consent to any assignment of the Lease shall not be construed as allowing an assignment
or a conveyance of such rights to any assignee (except for a Permitted Transfer). Nothing herein
contained should be construed so as to limit or abridge Landlord’s ability to deal with the Right
of First Refusal Space or to lease the Right of First Refusal Space to other tenants on the terms
set forth herein, Landlord’s sole obligation being to offer, and if such offer is accepted, to
deliver the Right of First Refusal Space to Tenant in accordance with this provision.

 

 

EXHIBIT A

Expansion Premises

[GRAPHIC]

 

 

EXHIBIT B-1

Right of First Refusal Space

[GRAPHIC]exv10w5

 

EXHIBIT
10.5

3rd AMENDMENT TO LEASE

     This Third Amendment To Lease is made and entered into this 9th day of May, 2007, by and
between, HEALTH FITNESS CORPORATION d.b.a. HEALTHCALC NET, INC, hereinafter referred to as “Tenant”
and Parkway Commons, L.P., an Oklahoma limited partnership (formerly CMD Realty Investment Fund II,
ltd), hereinafter referred to as “Landlord”;

Whereas, Landlord and Tenant agree that they are the rightful parties to that certain lease
agreement dated September 29, 2003, Amended April 29, 2005, for Suite 290, and Amended January 31,
2006 for suite 256 at 5068 W. Plano Parkway, Plano, Texas 75093, and whereas Parkway Commons, L P.
(successor Landlord) and Tenant desire to modify and extend said lease:

Now, therefore, in consideration of the premises and other good and valuable consideration receipt
of which is hereby acknowledged the above referenced lease is amended as follows:

	 	1.	 	Expansion. Commencing on June 1, 2007 (“Expansion Date”), or as soon
as space is available, Landlord and Tenant agree that Tenant shall expand into suite
250 consisting of approximately 2,174 rentable square feet as indicated on “Exhibit A”,
attached hereto and made a pert of this lease, for a new total of 8,213 rentable square
feet.
	 
	 	2.	 	Extension. The lease shall be extended to December 31, 2012.
	 
	 	3.	 	Base Rent. Effective June 1, 2007, the Base Rental Rate shall be as follows
for premises totaling 8,213rsf:

	 	 	 	 	 
	June 1, 2007 - June 30, 2007:
	 	$13,699.75/Month
	July 1, 2007 - December 31, 2007:
	 	$14,030.54/Month
	January 1, 2008 - December 31, 2008:
	 	$14,372.75/Month
	January 1, 2009 - December 31, 2009:
	 	$14,714.96/Month
	January 1, 2010 - December 31, 2010:
	 	$15,057.17/Month
	January 1, 2011 - December 31, 2011:
	 	S15,399.38/Month
	January 1, 2012 - December 31, 2012
	 	$15,741.58/Month

	 	4.	 	Tenant Improvements. Landlord shall finish out expansion Premises according to
mutually agreed upon space plan not to exceed $7.00 per square foot.
	 
	 	5.	 	Right of First Offer. Landlord agrees Tenant has the Right of First Offer on
any space which becomes available for lease on the second floor at the same rental rate
which is then in effect under said Third Amendment to Lease when Tenant exercises it
Right of First Offer. Tenant agrees to either accept or decline the space within 5
business days of Landlord’s written notice. If written notice is not

 

 

	 	 	 	received by Landlord by the close of business on the fifth day, Tenant’s option
becomes null and void.
	 
	 	6.	 	Security Deposit. Tenant shall pay an additional Security Deposit for
Expansion Space; $4,166.83.

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first set forth above.

LANDLORD: PARKWAY COMMONS, L.P.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	an Oklahoma Limited Partnership,	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Acron Parkway Commons, LL.C.,	 	 
	 	 	 	 	an Oklahoma limited liability company	 	 
	 	 	 	 	it’s general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Acron (USA), L.P.	 	 
	 	 	 	 	a Texas Limited Partnership,	 	 
	 	 	 	 	it’s Managing Member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Acron U.S. Management, Inc.	 	 
	 	 	 	 	 	 	a Nevada Corporation	 	 
	 	 	 	 	 	 	it’s general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	/s/ Greg W. Wilson	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Greg W. Wilson, President	 	 

TENANT: HEALTH FITNESS CORPORATION

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Wesley W. Winnekins
	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:
	 	Wesley W. Winnekins	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Its:
	 	Chief Financial Officer	 	 
	 

	 	 	 	 	 	 

 

 

EXHIBIT A

Expansion Premises

[GRAPHIC]

 

 

EXHIBIT B

Right of First Refusal

     Provided (a) that no Event of Default, assignment or sublease exists under any term or
provision contained in this Lease and no condition exists which with the passage of time or the
giving of notice or both would constitute an Event of Default pursuant to this Lease, (b) that
Tenant has continuously occupied the Premises for the Permitted Use during the Lease Term, and (c)
subject to the pre-existing rights of existing tenants in the Building and other prospective
tenants, Tenant (but not any assignee or subtenant) shall have the ongoing right, subject to the
terms and conditions set forth below, to lease that certain space as described on Exhibit
B-1 attached to this Lease (the “Right of First Refusal Space”) before it is leased to any
third party during the initial Lease Term.

     Subject to the terms above, in the event any third party expresses interest in leasing all or
any portion of the Right of First Refusal Space during the Lease Term (“Third Party Interest”),
Landlord shall offer the entire Right of First Refusal Space to Tenant in writing by certified mail
to either Peter Egan, John Ellis or authorized agent upon the same terms, covenants and conditions
as provided in this Lease for the original Premises, given that the base rent, the length of lease
term, the base year, and the tenant improvement allowance (if any) shall be the same as the terms
included in a written bona fide third patty offer for the Right of First Refusal Space which are
acceptable to Landlord. Tenant shall accept the space “As-Is”, and Tenant shall have no further
rights with respect to the Right of First Refusal Space. If Tenant notifies Landlord in writing of
the acceptance of such offer within five days after Landlord has delivered such offer to Tenant,
Landlord and Tenant shall enter into a written agreement modifying and supplementing the Lease and
specifying that such Right of First Refusal Space accepted by Tenant is a part of the Premises
demised pursuant to the Lease fin the remainder of the Lease Term and any renewal thereof, if
applicable, and containing other appropriate terms and conditions relating to the addition of the
Right of First Refusal Space to this Lease (including specifically any increase or adjustment of
the rent as a result of such addition). Any termination of the Lease shall terminate all rights of
Tenant with respect to the Right of First Refusal Space. The rights of Tenant with respect to the
Right of First Refusal Space shall not be severable from the Lease, nor may such rights be assigned
or otherwise conveyed in connection with any permitted assignment of the Lease. Landlord’s consent
to any assignment of the Lease shall not be construed as allowing an assignment or a conveyance of
such rights to any assignee (except for a Permitted Transfer). Nothing herein contained should be
construed so as to limit or’ abridge Landlord’s ability to deal with the Right of First Refusal
Space or to lease the Right of First Refusal Space to other tenants on the terms set forth herein,
Landlord’s sole obligation being to offer, and if such offer is accepted, to deliver the Right of
First Refusal Space to Tenant in accordance with this provision.

 

 

EXHIBIT “B”

Demised Premises

Suite 295

1,222 Rentable Square Feet

[GRAPHIC]

 

 

EXHIBIT B-1

Right of First Refusal Space

[GRAPHIC]

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