Document:

FIRST AMENDMENT TO LEASE

  

This First Amendment to Lease (this "First Amendment"), entered into as of the 3rd day of January, 2017, by and between 2319 HAMDEN CENTER I, L.L.C., as Landlord, and TRANSACT TECHNOLOGIES INCORPORATED, as Tenant.

WITNESSETH:

WHEREAS, Landlord and Tenant are parties to that certain Lease dated November 27, 2006 (the "Lease") with respect to that certain premises known as Suite 3-B, 2319 Whitney Avenue, Hamden, Connecticut (the "Premises") in Landlord's Building known as One Hamden Center, 2319 Whitney Avenue, Hamden, Connecticut 06518; and

WHEREAS, Landlord and Tenant mutually desire to amend the Lease;

NOW, THEREFORE, in consideration of the sum of $1.00 and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1.            Unless otherwise defined in this First Amendment, all defined terms shall have the meanings set forth in the Lease.

2.            The Term of the Lease is hereby extended commencing on May 1, 2017 until April 30, 2027 (the "Extended Term"). Notwithstanding the foregoing, the Tenant shall have two (2) options to terminate the Lease as follows: (a) Tenant shall have the one-time right to terminate this Lease effective on April 30, 2020 upon no less than six (6) months' prior written notice to Landlord and Tenant shall pay Landlord a penalty of one year's Base Rent (or $211,551.81 as set forth in Section 3 below); (b) if Tenant has not previously terminated this Lease in accordance with subsection (a) hereof, Tenant shall have an additional one-time right to terminate this Lease effective April 30, 2022 upon no less than six (6) months prior written notice to Landlord and if Tenant does not elect to terminate, Tenant shall be responsible for the remainder of the Extended Term.

3.            In addition to any and all applicable Additional Rent, the monthly Base Rent payable under the Lease for the Extended Term shall be as follows:

	
Period

	 	
Base Rent Per SF

	 	 	
Monthly Base Rent

	 	 	
Annual Base Rent

	 
	
5/1/2017 – 4/30/2018

	 	
$

	
18.00

	 	 	
$

	
16,612.50

	 	 	
$

	
199,350.00

	 
	
5/1/2018 – 4/30/2019

	 	
$

	
18.36

	 	 	
$

	
16,944.75

	 	 	
$

	
203,337.00

	 
	
5/1/2019 – 4/30/2020

	 	
$

	
18.73

	 	 	
$

	
17,283.65

	 	 	
$

	
207,403.74

	 
	
5/1/2020 – 4/30/2021

	 	
$

	
19.10

	 	 	
$

	
17,629.32

	 	 	
$

	
211,551.81

	 
	
5/1/2021 – 4/30/2022

	 	
$

	
19.48

	 	 	
$

	
17,981.90

	 	 	
$

	
215,782.85

	 
	
5/1/2022 – 4/30/2023

	 	
$

	
19.87

	 	 	
$

	
18,338.36

	 	 	
$

	
220,060.25

	 
	
5/1/2023 – 4/30/2024

	 	
$

	
20.27

	 	 	
$

	
18,707.52

	 	 	
$

	
224,490.25

	 
	
5/1/2024 – 4/30/2025

	 	
$

	
20.68

	 	 	
$

	
19,085.92

	 	 	
$

	
229,031.00

	 
	
5/1/2025 – 4/30/2026

	 	
$

	
21.10

	 	 	
$

	
19,473.55

	 	 	
$

	
233,682.50

	 
	
5/1/2026 – 4/30/2027

	 	
$

	
21.53

	 	 	
$

	
19,870.40

	 	 	
$

	
238,444.75

	 

  

4.            Tenant Improvements. Landlord shall undertake the following tenant improvements at Landlord expense: repaint the twelve (12) walls currently painted green with a new color chosen by Tenant (all walls shall be painted the same color).

5.            Option to Renew. Paragraph 39(a) of the Lease is hereby deleted in its entirety.

6.            Tenant's Address for Notices.  Tenant's address for notices, set forth on the Basic Lease Information page attached to the Lease is amended as follows:

TransAct Technologies Incorporated

One Hamden Center

2319 Whitney Avenue, Suite 3-B

Hamden, Connecticut 06518

7.            Consent.  Landlord represents and warrants that no consent or approval of this First Amendment by any third party (expressly including the holder of any mortgage encumbering the Building) is required or that each such consent or approval has been obtained by Landlord and is in full force and effect.

8.            Brokers.  Landlord and Tenant each warrant and represent to the other that it has had no dealing with any real estate broker or agent in connection with the negotiation of this First Amendment.  Except for any commission claims made by a broker claiming to represent Tenant in connection with this First Amendment, Landlord shall pay any commissions payable to any brokers pursuant to any agreement to which Landlord may be a party.

9.            No Further Modification.   Except as hereby modified, the Lease remains in full force and effect.

10.            Governing Law.   This First Amendment shall be governed by and construed in accordance with the laws of the State of Connecticut.

11.            Counterparts.   This First Amendment may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

[Signature page follows]

IN WITNESS WHEREOF, Landlord and Tenant have executed this First Amendment as of the day and date first above written.

2319 HAMDEN CENTER I, L.L.C.

By: Hamden Center Investors, Inc., its Manager

By:   /s/ Michael Belfonti

Michael Belfonti, President

TRANSACT TECHNOLOGIES INCORPORATED

By:/s/ Steven A. DeMartino

Name:  Steven A. DeMartino

Its:        President and CFOExhibit

Exhibit 10.52

[COMPANY LOGO]

June 29, 2016

Richard Frankel
RE: Internal Transfer to Part Time Status Dear Richard,
On behalf of Rocket Fuel Inc. (“Rocket Fuel”) I am pleased to offer you an internal transfer to the part time position of Co-Founder and Advisor beginning on July 15, 2016 reporting to Randy Wootton, our CEO.

We expect that your hourly commitment to Rocket Fuel will generally constitute approximately 25% of full time hours (approximately 10 hours per week).

Your annual salary will be $45,000, paid in accordance with Rocket Fuel’s standard payroll procedures. As a part time employee, you will not be eligible for participation on our company bonus program. You will also not be eligible for participation in our company benefits program, which requires a minimum number of hours worked to participate. However, you will continue to be eligible to participate in any refresh equity grant programs as approved by the compensation committee in each applicable year of your continued service to the company.

If, during the term of the Management Retention Agreement between you and Rocket Fuel executed by you in May 2015 (the “MRA”), you become entitled to receive cash severance payments under the MRA, Rocket Fuel will pay you a lump-sum severance payment of $172,500 (the “Severance”), less applicable tax withholding, at the same time, and subject to the same terms and conditions, as any cash severance benefits would (but for any reduction of such payments under Section 4.3 of the MRA) be payable to you under the MRA. For the avoidance of doubt, you may become entitled to the Severance only once. Pursuant to the MRA, any Severance paid to you under this letter will reduce the benefits to which you are entitled under your MRA as set forth in Section 4.3 therein.

If at any time during your employment with Rocket Fuel (or one of its subsidiaries or an acquirer), you decide to take employment with, or act as an advisor in any capacity to, any business or commercial entity that may compete with Rocket Fuel (or one of its subsidiaries or an acquirer) including advertising agencies, marketing services companies, attribution providers, or other companies in related fields, you will provide prompt notice to Rocket Fuel.  Upon such notice, Rocket Fuel may elect, in its sole discretion, to terminate your employment with Rocket Fuel.

You agree and acknowledge that your internal transfer to the part time position of Co-Founder and Advisor does not constitutes grounds for “Good Reason” under your MRA.

We encourage you to contact a Human Resource Benefits Specialist to review COBRA benefits that you may be eligible for when you cease working full time for Rocket Fuel.

Nothing in this letter changes the nature of your “at will” employment. Except as provided above, your internal transfer does not amend or otherwise affect the terms and conditions set forth in your At-Will Employment, Confidential Information, and Invention Assignment, and Arbitration Agreement, or any other confidentiality agreement that you have entered with Rocket Fuel..

I believe this to be a great opportunity for you to continue your excellent contribution to Rocket Fuel and remain as part of Rocket Fuel’s exciting future. Please indicate your acceptance by signing the copy of this letter and returning to us no later than Tuesday, June 21, 2016.

Sincerely,

/s/ Jennifer Trzepacz
Jennifer Trzepacz
Senior Vice President, Employee Success
	
				
	AGREED TO AND ACCEPTED:
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	/s/ Richard Frankel
	 
	Jul-01-2016
	 

	Signature
	 
	Date
	 

	 
	 
	 
	 

	Richard Frankel
	 
	 
	 

	Printed NameExhibit

Exhibit 10.53

June 27th, 2012

JoAnn Covington
[address]

Dear JoAnn,

On behalf of Rocket Fuel, Inc. (“Rocket Fuel”), I am pleased to offer you full-time employment with Rocket Fuel on the terms and conditions contained in this letter (the “Offer Letter”).  Your title will be Vice President, General Counsel and you will report to Peter Bardwick, Chief Financial Officer.

Your annual salary will be $225,000, and will be paid in accordance with Rocket Fuel’s normal payroll procedures.  In addition, because your role can have significant impact on the success of the company, you will be eligible for an annual bonus of $50,000,  paid quarterly, based upon the goals set between you and your manager. You will also be eligible to participate in Rocket Fuel’s complete package of employee benefits that are generally made available to all of Rocket Fuel’s full-time employees. Details about these benefit plans will be made available for your review. You should note that Rocket Fuel may modify or terminate benefits from time to time as it deems necessary or appropriate.

Additionally, it will be recommended to the Board of Directors (“Board”) that you be granted an option to purchase 100,000 shares of Rocket Fuel's common stock at a price per share equal to the fair market value per share of Rocket Fuel's common stock on the date of grant, as determined by the Board in its sole discretion. This option will be subject to the terms and conditions of Rocket Fuel's 2008 Stock Plan and stock option agreement.

As a Rocket Fuel employee, you will be expected to abide by Rocket Fuel rules and regulations and sign and comply with Rocket Fuel’s Proprietary Information and Inventions Agreement that, among other things, prohibits the unauthorized use or disclosure of Rocket Fuel proprietary information. We also ask that, if you have not already done so, you disclose to Rocket Fuel any and all agreements relating to your prior employment that may affect your eligibility to be employed by Rocket Fuel or limit the manner in which you may be employed. It is Rocket Fuel’s understanding that any such agreements will not prevent you from performing the duties of your position and you represent that such is the case.

In addition, you agree that, during the term of your employment with Rocket Fuel, you will not engage in any other employment, occupation, consulting, or other business activity directly related to the business in which Rocket Fuel is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to Rocket Fuel.  Similarly, you agree not to bring any third-party confidential information to Rocket Fuel, including that of your former employer, and that you will not in any way utilize any such information in performing your duties for us.

By signing below, you agree that your employment with Rocket Fuel is an employment “at will.” Employment “at will” means either party may terminate the relationship at any time for any reason whatsoever, with or without cause or advance notice. Rocket Fuel reserves the right to revoke this offer should it not receive a satisfactory reference check and background screen for you.

This Offer Letter will be governed by the laws of the State of California, without reference to rules relating to conflicts of law. In the event of any dispute or claim relating to or arising out of our employment relationship, you and Rocket Fuel agree to an arbitration in which (i) you are waiving any and all rights to a jury trial but all court remedies will be available in arbitration, (ii) we agree that all disputes between you and Rocket Fuel shall be fully and finally resolved by binding arbitration, (iii) all disputes shall be resolved by a neutral arbitrator who shall issue a written opinion, (iv) the arbitration shall provide for adequate discovery, and (v) Rocket Fuel shall pay those arbitration fees required by law.

This Offer Letter, together with the Proprietary Information and Inventions Agreement, is the entire agreement between you and Rocket Fuel with respect to your employment and supersedes any other agreements or promises made to you by anyone, whether oral or written. As required by law, this offer is subject to satisfactory proof of your right to work in the United States.

Please sign and date this Offer Letter and return one copy to Rocket Fuel by June 29th, 2012 if you wish to accept employment under the terms described above. If you accept our offer, the first day of your employment will begin on July 23rd, 2012. This offer of employment will terminate if it is not accepted, signed and returned to me by June 29th, 2012.

We welcome you to the Rocket Fuel team and look forward to your contribution to Rocket Fuel’s success.  If you have any questions regarding this letter, feel free to contact me at any time.

Sincerely,
/s/ J. Peter Bardwick
J. Peter Bardwick
CFO

AGREED TO AND ACCEPTED:

	
					
	 
	 
	 
	 
	 

	/s/ JoAnn Covington
	 
	6/28/2012
	 
	 

	Signature
	 
	Date
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	JoAnn Covington
	 
	 
	 
	 

	Printed Name

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