Document:

Assignment and Assumption of Lease

 Exhibit 10.14 
 ASSIGNMENT AND ASSUMPTION OF LEASE 
 THIS ASSIGNMENT AND ASSUMPTION OF
LEASE (this “Assignment”) is entered into as of this 16th day of May, 2005, by and between HCAP STRATEGIES, INC., a Wisconsin corporation (“Assignor”), and WAGEWORKS, INC., a Delaware corporation
(“Assignee”). 
 WITNESSETH: 
 WHEREAS, Assignor, as “Tenant,” and Applied Buildings, LLC, a Wisconsin limited liability company, as “Landlord,” are parties to that certain Commercial Building Lease dated
December 17, 2004 (the “Lease”), covering certain real property including all improvements thereon or to be constructed thereon (the “Premises”), located at 10375 North Baldev Court, Mequon, Wisconsin 53092, a copy of which
Lease is attached hereto as Appendix A; and 
 WHEREAS, Assignor, as “Seller,” and Assignee, as
“Buyer,” are parties to an Asset Purchase Agreement, dated May 16, 2005 (the “Purchase Agreement”), pursuant to which, subject to the terms and conditions set forth therein, the Assignor will sell to the Assignee, and the
Assignee will purchase from the Assignor, the Purchased Assets, and the Assignee will assume the Assumed Liabilities as described in the Purchase Agreement, including all of Assignor’s right, title and interest as Tenant in, under and to the
Lease; and 
 WHEREAS, simultaneously with the closing of the transactions contemplated by the Purchase Agreement, the
Parties mutually desire: (a) that Assignor assign all of its right, title and interest as Tenant in, under and to the Lease to Assignee; (b) Assignee desires to succeed to the interest of Assignor, and to assume the obligations of Assignor
under the Lease; and (c) that Landlord consents to the assignment contemplated hereby, all on the terms and conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other valuable consideration, the receipt and adequacy of which are expressly acknowledged, the parties hereto agree as
follows: 
 1. Effective Time. For all purposes under this Assignment, the term “Effective Time”
shall mean that time, if any, on which the closing of the transactions contemplated by the Purchase Agreement is consummated. 

2. Assignment and Assumption. 
 (a) Effective as of the Effective Time, Assignor hereby assigns, transfers and sets over unto all of Assignor’s right, title and interest as Tenant in, under and to the Lease to Assignee, its
successors and permitted assigns. 
 (b) Assignee hereby accepts the foregoing assignment and hereby agrees to perform all of
the terms and conditions of the Lease to be performed on the part 

 
of Assignor and assumes all of the liabilities and obligations of Assignor under the Lease arising or accruing on or after the Effective Time, including, without limitation, liability for the
payment of rent and for the due performance of all the terms, covenants and conditions of the Tenant pursuant to the Lease. 

3. Additional Instruments. Assignor agrees to make, execute and deliver all such further or additional instruments as may
be necessary to satisfy the intent and purposes hereof and to perfect the assignment made hereby. 
 4. Notice.
Whenever Assignor receives notice pursuant to the Lease, Assignor agrees to promptly provide Assignee with a copy of such notice. 
 5. Landlord’s Consent. This Assignment is expressly conditioned upon (a) Assignor obtaining the written consent of Landlord to (i) this Assignment and (ii) the
execution and delivery by Assignee and Assignor of that certain Occupancy Agreement by and between Assignee and Assignor for the premises located at 10406 North Baehr Road, Mequon, Wisconsin 53092. 

6. Miscellaneous. 
 (a) Headings. The section headings used herein are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Assignment. 

(b) Binding Effect. This Assignment shall be binding upon the parties hereto, their heirs, successors, and assigns. 

(c) Governing Law. This Assignment shall be governed by and construed in accordance with the laws of the State of Wisconsin.

 (d) Counterparts. This Assignment may be executed in one or more counterparts, each of which shall be deemed an
original but all of which together will constitute one and the same instrument. 
 (e) Integrated Agreement. This is an
integrated agreement and contains the full, final, and complete expressions of the parties hereto. This Assignment shall only be modified in writing containing the signatures of the parties hereto. 

 IN WITNESS WHEREOF, the parties hereto have executed this Assignment as of the day
and year first above written. 
  

							
	ASSIGNOR:	 	ASSIGNEE:
		
	HCAP STRATEGIES, INC.	 	WAGEWORKS, INC.
				
	By:	 	 /s/ Dennis A. Christiansen
	 	By:	 	 /s/ John Kessler

				
	Name:	 	 Dennis A. Christiansen
	 	Name:	 	 John Kessler

				
	Title:	 	 Chairman & CEO
	 	Title:	 	 Chairman

 CONSENT OF LANDLORD 

The undersigned Landlord hereby consents to the above and foregoing Assignment; provided, that this consent shall not be or be deemed to
be a waiver of any of the provisions of the Lease. In connection with the Assignment granted herein, Landlord hereby agrees that as of the Effective Time Assignor shall be released from each and every obligation to Landlord. 

Landlord hereby confirms that: (a) the Lease attached as Exhibit A to the foregoing Assignment and Assumption of Lease is a true and
correct copy of the agreement between Landlord and Assignor, the Lease has not been amended or modified except as set forth in Exhibit A, and the Lease is now in full force and effect; (b) neither Landlord nor Assignor is in default under the
Lease, nor has any event occurred which with the passage of time or the giving of notice or both, would constitute a breach or default by Landlord or Assignor under the terms of the Lease; (c) all rent has been paid in accordance with the terms
of the Lease; and (d) Assignee, its successors and/or assignees shall have the right to exercise any options to extend granted to the Tenant under the Lease. 

 

			
	LANDLORD:
	
	APPLIED BUILDINGS, LLC
		
	By:	 	 /s/ S.K. Mehta

	Name:	 	 S.K. MEHTA

	Title:	 	 MEMBER APPLIED BUILDINGS, LLC

	Dated:	 	 5/13/05

 APPENDIX A 

The Lease 

See attached copy 

					
	 Document Number
	  	 MEMORANDUM OF LEASE
 Title of Document
	  	
	  
 THIS MEMORANDUM OF LEASE
AGREEMENT (the “Memorandum”), is made effective as of the 17 day of December, 2004, by and between HCAP STRATEGIES, INC., a Wisconsin corporation (hereinafter referred to as “Tenant”), and APPLIED
BUILDINGS, LLC, a Wisconsin limited liability company (hereinafter referred to as “Landlord”).
  

W I T N E S S E T H:

 
	  	 Recording Area
 Name and Return Address
  

Timothy E. Kronquist, Esq.
 Davis & Kuelthau,
s.c.
 111 East Kilbourn Avenue, Suite 1400
 Milwaukee, Wisconsin 53202
  
 Parcel Identification Number (PIN)

	 WHEREAS, Landlord and Tenant entered into that certain Commercial Building Lease Agreement (the
“Lease”) dated December 17, 2004, wherein Landlord, leased certain premises to Tenant; and 
  

WHEREAS, this Memorandum is being executed for the purpose of providing notice of the Lease and terms thereof in the Office of
the Register of Deeds for Ozaukee County, State of Wisconsin in order to place third parties on notice of the Lease and Landlord’s and Tenant’s rights and obligations thereunder, some of which are hereinafter summarized.
	  
	  
 NOW, THEREFORE, in
consideration of the mutual covenants and promises contained in the Lease, Landlord and Tenant hereby acknowledge as follows:
  

1. PREMISES. The “Premises” is the entire real property and improvements thereon or to be
constructed thereon pursuant to the Lease and located at 10375 North Baldev Court, Mequon, Wisconsin, which property is legally described on Exhibit A attached hereto.

 
 2. TERM. The initial term of the Lease is for a
period of ten (10) years commencing on September 1, 2005, and terminating on August 31, 2015, unless otherwise terminated as provided in the Lease. Tenant has the option to renew and extend the Lease for two (2) additional periods of five
(5) years each, at such rental rate and upon such other terms as are set forth in the Lease.
  
 3. RIGHT OF FIRST REFUSAL. If during any term or extended term of the Lease, Landlord receives a bonafide offer from any third party to purchase, gift, assign, exchange or otherwise transfer
the Premises and Landlord intends to accept or negotiate to accept a bona fide offer, Landlord grants and conveys to Tenant the exclusive first right to purchase the Premises upon the limitations, terms and conditions described in the
Lease.

 Information Professionals Co., Fond du Lac, WI 

800-655-2021 

 4. LEASE CONTROLLING. This Memorandum of Lease is only a summary of some of the terms
and conditions contained in the Lease and is not intended in any way to amend, alter, modify, abrogate, substitute or otherwise affect any of the terms or conditions contained in the Lease, all of which are hereby incorporated herein in full by this
reference. It is hereby understood and agreed that, notwithstanding this Memorandum, the terms and conditions contained in the Lease shall in all events control the relationship between Landlord and Tenant with respect to the subject matter therein
contained. 
 5. PURPOSE; NO MODIFICATION. The Memorandum is solely for recording purposes and shall not be
construed to alter, modify or supplement the Lease of which this is a Memorandum. 
 6. NOT A CONVEYANCE. The
Lease is a lease of less than 99 years and not a conveyance subject to return and fee per sec. 77.21(1), Stats. 
 IN WITNESS
WHEREOF, Landlord and Tenant have executed this Memorandum of Lease effective as of the date first written above. 
  

			
	TENANT:
	
	HCAP STRATEGIES, INC.
		
	By:	 	 /s/ Dennis A. Christiansen

		 	 Dennis A. Christiansen, Chief Executive Officer and

Chairman of the Board

  

					
	STATE OF WISCONSIN	  	)	  	
		  	)	  	SS
	OZAUKEE COUNTY	  	)	  	

 Personally came before me this 17 day of December, 2004, the above named Dennis a. Christiansen,
the Chief Executive Officer and Chairman of the Board, respectively, of HCAP Strategies, Inc., and acknowledged that they executed the foregoing instrument as such officers as the deed of such entity, by its authority. 

 

	
	 /s/ Robin L. Oleszak

	 *   ROBIN L. OLESZAK

	Notary Public, State of Wisconsin
	My commission (is)(expires) 12-4-05

 
			
	LANDLORD:
	
	APPLIED BUILDINGS, LLC
		
	By:	 	 /s/ S.K. Mehta

		 	S.K. Mehta, Member

  

							
	STATE OF WISCONSIN	  	)	  		  	
		  	)	  	SS	  	
	OZAUKEE COUNTY	  	)	  		  	

 Personally came before me this 17 day of December, 2004, the above named S.K. Mehta, Member of
Applied Buildings, LLC, and acknowledged that he executed the foregoing instrument as such member as the deed of such entity, by its authority. 
  

	
	 /s/ Robin L. Oleszak

	 *   ROBIN L. OLESZAK

	Notary Public, State of Wisconsin
	My commission (is)(expires) 12-4-05

  

					
		 		  	
		 	 This Document was drafted by:

 
 Timothy E. Kronquist, Esq.

Davis & Kuelthau, s.c.
 111 East Kilbourn Avenue, Suite
 Milwaukee, Wisconsin 53202

(414) 276-0200
	  

 EXHIBIT A 

Description of the Leased Premises 
 LOT 1 OF CERTIFIED SURVEY MAP NO. 3464, BEING A DIVISION OF THE NORTHWEST 1/4 OF SECTION 35, TOWNSHIP 9 NORTH, RANGE 21 EAST, IN THE CITY OF MEQUON, OZAUKEE COUNTY, WISCONSIN.Amendment to Commercial Building Lease

 Exhibit 10.15 
 AMENDMENT TO COMMERCIAL BUILDING LEASE 
 THIS AGREEMENT
made this 8th day of September, 2005, by and between
Applied Buildings, LLC, hereinafter referred to as “Lessor”, and Wageworks, Inc., hereinafter referred to as “Tenant”. 
 WHEREAS, Lessor and HCAP Strategies, Inc., on the 17th day of December, 2004, entered into a Commercial Building Lease for 10375 North Baldev Court, Mequon, Wisconsin, which Lease was assigned to Tenant on the 15th day of May, 2005; and 

WHEREAS, the parties hereto axe desirous of amending said Commercial Building Lease. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties intending to be legally bound
do hereby agree as follows: 
 The provisions of Paragraph #2 are deleted in their entirety, and the following new Paragraph #2
is inserted: 
 2. PAYMENT OF RENTALS. The Tenant covenants and agrees to pay the Lessor at its office or at such other
place as the Lessor may from time to time designate in writing, a fixed annual minimum rent, hereinafter called “rent” of Four hundred twenty four thousand two hundred seventy two Dollars ($424,272.00), payable in equal monthly
installments of Thirty five thousand three hundred fifty six Dollars ($35,356.00) on the first day of each and every month, in advance, during the Term of this Lease. The first monthly installment of the rent shall become due and payable upon
February 1, 2006. Upon Tenant’s acceptance and occupancy of the Premises as set forth in Section 33, below (“Commencement Date”) which is anticipated to be on or about November 1, 2005, but the Commencement Date is
subject to and shall be finally determined by Sections 33 and 34, the Tenant shall commence to pay all other costs which are the responsibility of the Tenant as further set forth in this Lease. Such additional rent may be estimated and billed
monthly by the Lessor, and in such case as the same shall be adjusted annually. Such additional rent shall be paid by the Tenant within ten (10) business days after billing. Lessor shall provide a detailed statement showing what is included as
additional rent, and Lessor and Tenant shall resolve any disputes over any additional rental in good faith. 

 The provisions of Paragraph #36 are deleted in their entirety. 

The Commercial Building Lease dated the 17th day of December, 2004, as modified by this Agreement, shall continue to define the rights and obligations of the
parties hereto. 
 IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have duly executed, sealed and
delivered this Agreement the day and year first written above. 
  

									
		 		 	APPLIED BUILDINGS, LLC	 	
					
		 		 	By:	 	 /s/ S.K Mehta
	 	
		 		 		 	    S.K. Mehta, Member	 	
				
		 		 	WAGE WORKS, INC.	 	
					
		 		 	By:	 	 /s/ Scott P. Halstead
	 	September 8, 2005
		 		 		 	    Scott P. Halstead, President	 	
	 		 	By:	 	  
 /s/ Dickson
Leung
	 	  
 September 8, 2005

	 		 		 	    Dickson Leung, Secretary	 	

			
	 STATE OF WISCONSIN)
	 	
		 	ss
	     WI     COUNTY)
	 	

 Personally came before me this 13 day September, A.D. 2005. the above-named Applied Buildings,
LLC. By S.K. Mehta, Member, to me known to be the person who executed the foregoing instrument and acknowledged the same. 
  

							
		 		 	 /s/ Rosanne J. Mehta

		 		 	Notary Public, State of Wisconsin
		 		 	My Commission:	 	 3 - 4 - 2007

 

			
	 STATE OF CALIFORNIA)
	 	
		 	ss
	     San Mateo     COUNTY)
	 	

 Personally came before me this 8 day of September, A.D. 2005, the above-named Wageworks, Inc., by
Scott P. Halstead, its President, and Dickson Leung, its Secretary, to me known to be the persons who executed the foregoing instrument and acknowledged the same. 
  

							
		 		 	 /s/ Metrock Nushwat

		 		 	Notary Public, State of California
		 		 	My Commission:	 	 2 - 11 - 2007

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]