Document:

Exhibit 10.29

 

WAREHOUSE ASSOCIATES

 

LEASE AMENDMENT #4

This LEASE AMENDMENT #4 (the “Agreement”) is made and entered as of August 5, 2015 by and between Sharps Compliance, Inc. (“Tenant”) and Warehouse Associates Corporate Centre Kirby II, Ltd. (“Landlord”) plus Warehouse Associates Corporate Centre Kirby IV, Ltd. (“Landlord”).

WITNESSETH:

A.    Landlord, or its predecessor in Interest, and Tenant, or its predecessor in Interest, have heretofore entered into that certain lease dated July 13, 2006 (the “Lease”), and for Lease Amendment #1 dated December 12, 2007, and for Lease Amendment #2 dated March 8, 2010, and for Lease Amendment #3 dated February 6, 2015 for 9220 Kirby Drive, Suite 500 containing 18,231 rentable square feet in the Project known as Corporate Centre Kirby II, located at 9220-9230 Kirby Drive, Houston, Texas, 77054 (the “Premises”),

B.    The parties mutually desire to amend the Lease, subject to the terms and conditions hereof.

NOW THEREFORE, in consideration of the mutual terms and conditions herein contained, the parties hereby agree as follows:

1.     The parties agree that:

		A.	Tenant will lease an additional 9,368 rentable square feet at 9310 Kirby Drive in Warehouse Associates Corporate Centre Kirby IV. See attached Exhibit “A”. Tenant will be allowed to move into lease space on the established Effective Date as defined below.

		B.	The lease term shall be sixty-three (63) months. The Lease Commencement date and rent commencement date shall be ninety (90) days from the Effective date.

		C.	The Net Monthly Base Rent for this lease space will be: Months 1 – 3 will be $0; Months 4 - 63 will be $1.40 per square foot $13,115.20 per month. In addition to base rent, Tenant shall also pay $0.39 per square foot $3,653.52 per month for estimated operating expenses.

		D.	The lease expiration for the 9,368 square foot space shall be sixty-three (63) months from the Lease Commencement date.

		E.	Landlord will provide a Tenant allowance $44.20 per square foot ($414,065.60) to be used for construction as outlined in the attached bid dated July 28, 2015 from Horizon Builders (see attached Exhibit “B”) in the amount of $441,685. Tenant shall be responsible for the cost difference in this bid of $27,620 above the Tenant allowance. Tenants construction plan is outlined in Exhibit “C”

		F.	Tenant shall have the right to terminate the lease on the 9,368 square foot space at the point at which Tennant enters into a new lease for approximately 21,307 square feet at 9220 Kirby Drive, Suite 100 (currently occupied by Harris County Public Library). The base rental rate for this space will be $1.25 per square foot plus operating expenses. There will not be a gap in rent payments from the 9,368 sf space to the 21,307 sf space. This space will be available as early as December 31, 2016 and as late as July 1, 2017.

		G.	In the event that Tenant leases the 21,307 sf space, the rent will commence immediately on the day after either expiration date for the Harris County Public Library as listed in paragraph “F” above, or the date at which they vacate the premises and the premises are in acceptable condition for occupancy by Tenant. The 21,307 sf space will be leased in “AS-IS” condition.

 

1

WAREHOUSE ASSOCIATES

 

2.        Effective Date. The Effective Date will be the later of November 15th, 2015 or upon receipt of the Temporary Certificate of Occupancy and the acceptance of the buildout in accordance with the agreed upon specifications. (herein referred to as the “Effective Date”).

3.        Whole Agreement. This Agreement sets forth the entire agreement between the parties with respect to the matters set forth herein. There have been no additional oral or written representations or agreements. As amended herein, the Lease between the parties shall remain in full force and effect. In case of any inconsistency between the provisions of the Lease and this Agreement, the latter provisions shall govern and control.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

	
LANDLORD:

	
Warehouse Associates Corporate Centre Kirby II, Ltd

	 	
Warehouse Associates Corporate Centre Kirby IV, Ltd

 

	 	
By:

	
/s/ David R. David

	 	 	 
	 	
Name:

	
David R. David

	 	 	 
	 	
Its:

	
Authorized Agent

	 	 	 
	 	
TENANT: Sharps Compliance, Inc

	 	 	 
	 	
By:

	
/s/ Diana P. Diaz

	 	 	 
	 	
Name:

	
Diana P. Diaz

	 	 	 
	 	
Its:

	
Vice President and Chief Financial Officer

 

2EX-4.4

 Exhibit 4.4: Form of Stock Option Agreement 

 Exhibit 4.4 

FORM OF 
 STOCK OPTION
AWARD AGREEMENT 
 CLIFTON BANCORP INC. 2015 EQUITY INCENTIVE PLAN 

This Stock Option Grant is awarded to
                     (the “Participant”) by Clifton Bancorp Inc. (the “Company”) as of
                         (the “Grant Date”), the date the Committee of the Board of Directors of the Company
(the “Committee”) granted the Participant the right and option to purchase                      Shares pursuant to the Clifton
Bancorp Inc. 2015 Equity Incentive Plan (the “2015 Plan”), subject to the terms and conditions of the 2015 Plan and this Award Agreement: 
  

			
	Type of Option(s):	  	Incentive Stock Option (ISO)
		  	Non-Qualified Stock Option (NQO)
	Shares Subject to the ISO Portion of this Stock Option Award:	  	_________ shares of Common Stock.
		
	Shares Subject to the NQO Portion of this Stock Option Award:	  	_________ shares of Common Stock.
		
	Date of Grant:	  	_________
		
	Exercise Price:	  	$________
		
	Expiration Date:	  	_________, unless sooner as set forth in this Award Agreement
		
	Vesting Schedule:	  	Unless sooner vested in accordance with Section 2 of the Terms and Conditions (attached hereto) the Options shall vest (become exercisable) in accordance with the following schedule:

  

							
	 ISO Schedule
	 	 NQO Schedule

	 Installment
	 	 Vesting Date
	 	 Installment
	 	 Vesting Date

		 		 		 	
		 		 		 	

 IN WITNESS WHEREOF, Clifton Bancorp Inc., acting by and through the Committee, has caused this Award
Agreement to be executed as of the Grant Date set forth above. 
  

			
	CLIFTON BANCORP INC.
		
	By:	 	  

		 	On behalf of the Committee

  

			
	Accepted by Participant:
	
	  

		
	Date:	 	  

 TERMS AND CONDITIONS 
  

	1.	Grant of Option. The Grant Date, Exercise Price and number of Shares subject to your Option are stated on page 1 of this Award Agreement. Capitalized terms used herein and not otherwise defined shall have
the meanings assigned to such terms in the 2015 Plan. 

  

	2.	Vesting of Options. The Option shall vest (become exercisable) in accordance with the vesting schedule shown on page 1 of this Award Agreement. Notwithstanding the vesting schedule on page 1, the Option will
also vest and become exercisable upon your death or Disability during your Continuous Status as a Participant. 

  

	3.	Term of Options and Limitations on Right to Exercise. The term of the Option will be for a period of ten (10) years, expiring at 5:00 p.m., Eastern Time, on the tenth anniversary of the Grant Date (the
“Expiration Date”). To the extent not previously exercised, the vested portion of your Option will lapse prior to the Expiration Date upon the earliest to occur of the following circumstances: 

 

	 	(a)	Three (3) months after the termination of your Continuous Status as a Participant for any reason other than your death or Disability. 

 

	 	(b)	Twelve (12) months after termination of your Continuous Status as a Participant by reason of Disability. 

  

	 	(c)	Twelve (12) months after the date of your death, if you die while employed, or during the three-month period described in subsection (a) above or during the twelve-month period described in subsection
(b) above and before the Option would otherwise lapse. Upon your death, your beneficiary (designated pursuant to the terms of the 2015 Plan) may exercise your Option. 

 

	 	(d)	At the end of the remaining original term of the Option if your employment is involuntarily or constructively terminated within twelve (12) months of a Change in Control. 

If you or your beneficiary exercises an Option after your termination of service, the Option may be exercised only with respect to the Shares
that were otherwise vested on the date of your termination of service. 
  

	4.	Exercise of Option. You may exercise your Option by providing: 

  

	 	(a)	a written notice of intent to exercise to the address and in the form specified by the Committee from time to time; and 

  

	 	(b)	payment to the Company in full for the Shares subject to the exercise (unless the exercise is a cashless exercise). Payment for the Shares can be made in cash, Company common stock (“stock swap”), a
combination of cash and Company common stock or by means of a cashless exercise (if permitted by the Committee). 

  

	5.	Beneficiary Designation. You may, in a manner determined by the Committee, designate a beneficiary to exercise your rights under the 2015 Plan and to receive any distribution with respect to this Option upon your
death. A beneficiary, legal guardian, legal representative, or other person claiming any rights under the 2015 Plan is subject to all terms and conditions of this Award Agreement and the 2015 Plan, and to any additional restrictions deemed necessary
or appropriate by the Committee. If you have not designated a beneficiary or none survives you, the Option may be exercised by the legal representative of your estate, and payment shall be made to your estate. You may change or revoke a beneficiary
designation at any time provided the change or revocation is filed with the Company. 

	6.	Withholding. The Company or any employer Affiliate has the authority and the right to deduct or withhold, or require you to remit to the Company, an amount sufficient to satisfy federal, state, and local (if any)
withholding taxes and employment taxes (i.e., FICA and FUTA). 

  

	7.	Limitation of Rights. This Option does not confer on you or your beneficiary designated pursuant to Paragraph 5 any rights as a shareholder of the Company unless and until the Shares are in fact issued in
connection with the exercise of the Option. Nothing in this Award Agreement shall interfere with or limit in any way the right of the Company or any Affiliate to terminate your employment at any time, nor confer upon you any right to continue in the
service of the Company or any Affiliate. 

  

	8.	Restrictions on Transfer and Pledge. You may not pledge, encumber, or hypothecate your right or interest in this Option to or in favor of any party other than the Company or an Affiliate, and this Option shall
not be subject to any lien, obligation, or liability of the Participant to any other party other than the Company or an Affiliate. You may not assign or transfer this Option other than by will or the laws of descent and distribution or pursuant to a
domestic relations order that would satisfy Section 414(p)(1)(A) of the Code if such Section applied to an Option under the 2015 Plan; provided, however, that the Committee may (but need not) permit other requested transfers. Only you or any
permitted transferee may exercise this Option during your lifetime. 

  

	9.	Plan Controls. The terms contained in the 2015 Plan are incorporated into and made a part of this Award Agreement and this Award Agreement shall be governed by and construed in accordance with the 2015 Plan. In
the event of any actual or alleged conflict between the provisions of the 2015 Plan and the provisions of this Award Agreement, the provisions of the 2015 Plan will control. 

 

	10.	Successors. This Award Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Award Agreement and the 2015 Plan. 

 

	11.	Severability. If any one or more of the provisions contained in this Award Agreement is invalid, illegal or unenforceable, the other provisions of this Award Agreement will be construed and enforced as if the
invalid, illegal or unenforceable provision had never been included in this Award Agreement. 

  

	12.	Notice. Notices and communications under this Award Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid.
Notices to the Company must be addressed to: 

 [INSERT CONTACT] 

or any other address designated by the Company in a written notice to the Participant. Notices to you will be directed to your address, as then
currently on file with the Company, or to any other address that you provide in a written notice to the Company.

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