Document:

Exhibit 10.3

 

 

The undersigned:

 

1.                          PHILIPS ELECTRONICS NEDERLAND B.V., acting  herein under the name “EXPLOITATIEMAATSCHAPPIJ PHILIPS HIGH TECH CAMPUS,” having
a principal place of business in (5656 AA) Eindhoven at Prof. Holstlaan 100,
Building HTC, for the purposes of this transaction represented by Mr. C.H.L.
van der Linden and Mr. J. Wilkes in their capacity as managing directors
of the company under its articles and in their capacity as special authorized
representatives of this company,

 

hereinafter referred
to as “Lessor,”

 

and

 

2.                          PHILIPS SEMICONDUCTORS B.V.,  acting herein for the account and risk of Philips
Semiconductors-SLE, having its principal place of business in (5656
AA) Eindhoven at Prof. Holstlaan 4, for the purposes of this transaction represented
by Mr. J. Lobbezoo and Mr. T. Claasen,

 

hereinafter
referred to as “Lessee,”

 

whereas:

 

•                             Lessor wishes to lease the
office/business premises referenced hereinafter to Lessee, and Lessee wishes to
lease the office/business premises referenced hereinafter from Lessor;

•                             Lessor derives its
authority to lease out said premises from a leasing agreement that it has
entered into with Tetona Investments B.V., with registered office in Amsterdam;

•                             Unless context indicates
otherwise, references in the present agreement to leasing between the parties
shall be understood as denoting subleasing;

•                             The parties wish to set
forth their arrangements concerning this leasing in writing.

 

do hereby agree to
the following:

 

1.                         The Leased Property, Intended
Purpose and Use

 

1.1                    The present
leasing agreement relates to the office/business premises with a leasable floor
area (“v.v.o.”) of 5,805 m2, which has been constructed at Prof.
Holstlaan in Eindhoven and is also referred to as “Building WDN,” in both
respects in accordance with the site plan and other plans attached as Annex 2,
with which the parties are sufficiently acquainted, hereinafter referred to as “the
leased property,” with 130 parking spaces in a parking garage on the Philips
High Tech Campus to be further specified.

 

1.2                    The leased
property may be used exclusively as office/business premises, research
and/or development premises, or laboratories.

 

	
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1.3                    Lessee is not
permitted, without the prior written content of Lessor, to use the leased
property for any purpose other than as described in Sec. 1.2.

 

1.4                    The maximum
permitted load on the floor(s) of the leased property is 400 kilograms per
square meter.

 

1.5                    After
consultation with Lessee, Lessor’s site management is entitled to reduce the
number of parking spaces allotted to Lessee, if a change in the expected number
of parking spaces needed for the users of the Philips High Tech Campus
constitutes reasonable cause to do so. The rental fee for the leased property
shall in that case be lowered by €919 per parking space per year for each
parking space by which Lessee’s allotment is reduced. If at any time Lessee
uses more or fewer parking spaces than the amount to which it is entitled under
the terms of the present agreement (“actual overuse” or “actual underuse”),
then it shall be charged an amount of €919 per actually overused parking space
per year or be given a discount of €919 per actually underused parking space
per year, or, if the actual overuse or actual underuse occurs for a period
longer or shorter than one year, an amount prorated to the duration of the
actual overuse or actual underuse, all as further stipulated in the regulations
of the Philips High Tech Campus, to be approved by the Managing Board, on which
one or more representatives of Lessor and one or more representatives of Lessee
shall hold seats.

 

2.                         Terms and Conditions

 

2.1                    The following
are integral parts of the present agreement:

 

(i)                       the “General
Stipulations of Leasing Agreements for Office Premises and Other Business
Premises Not Subject to Article 7A (1624) of the Civil Code,” filed at the
Office of the District Court in The Hague on February 29, 1996 and
registered there under No. 34/1996, hereinafter referred to as the “General
Stipulations”;

 

(ii)                    the appendix
to the present agreement contained in Annex 6 to the present agreement,
hereafter referred to as the “Appendix”;

 

(iii)                 the annexes to
the present agreement.

 

The
parties are acquainted with the contents of the General Stipulations, the
Appendix, and the annexes. Lessee has received a copy thereof and declares its
acceptance thereof upon signing the present agreement.

 

2.2                    The
stipulations of Sec. 2.1 apply insofar as not provided otherwise in the present
agreement or unless the application thereof with respect to the leased property
is not possible.

 

3.                         Term, Duration, and
Termination

 

3.1                    The present
agreement enters into force on June 21, 2002, hereinafter referred to as
the “effective date.” Notwithstanding the provisions of Stipulations 17.1-17.3
of the “General Stipulations,” Lessee is obligated to accept leasing of the
leased property and the appurtenant parking spaces effective from June 21,
2002, hereafter referred to as the “date of delivery,” and Lessor is obligated,
effective from the date of delivery, to provide leasing of the leased property
and the

 

	
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appurtenant
parking spaces. If the leased property is not available on the date of
delivery, Lessor shall, with due regard for Lessee’s reasonable interests, set
a new date that shall replace the date of delivery and shall also be referred
to hereinafter as the “date of delivery.”

 

3.2                    The present
agreement ends, without any notice requirement, on June 21, 2007
(hereinafter referred to as the “end date”), unless the agreement is extended
or has been previously terminated pursuant to the terms of the present
agreement. Lessor shall notify Lessee at least six months prior to the end date
whether the agreement can be extended. If the present agreement has been
extended pursuant to the terms of the agreement, it ends, without any notice
requirement, on the last day of the extension period, unless the agreement is
again extended or has been previously terminated pursuant to the terms of the
present agreement.

 

3.3                    If Lessor in
any way obtains the authority to lease the leased property and the appurtenant
parking spaces to Lessee after the end date, the present agreement shall, if so
requested by Lessee, be extended for the duration of the period for which
Lessor has obtained said authority. Both Lessor and Lessee can, however, limit
said extension to a period of five years. In the event of any extension of the
present agreement, Lessor and Lessee shall decide on a new rental fee by mutual
consent, with said rental fee to be in conformity with market conditions.
However, the rental fee shall in all instances be adequate to cover Lessor’s
reasonable costs arising from the acquisition, use, administration, and preservation
of the aforesaid authority, said costs expressly including but not limited to
the financing costs and/or rental fees incurred by Lessor with respect to the
leased property and the appurtenant parking spaces. Lessor and Lessee shall
enter into consultation concerning a further extension of the  present agreement no later than six months
prior to the end of the extension period.

 

Lessor
shall make every commercially reasonable effort to obtain the authority
referred to in the first sentence of this section under terms and
conditions convenient to Lessor.

 

3.4                    Lessor is
entitled to effect premature termination of the present agreement, with notice:

 

(i)                       effective
from the date on which its authority to lease the leased property and the
appurtenant parking spaces to Lessee ends;

 

(ii)                    if a
circumstance as specified in Stipulation 7 of the “General Stipulations”
arises; or

 

(iii)                 if Lessee is no
longer a subsidiary of Koninklijke Philips Electronics N.V. within the meaning
of Article 24a, Book 2, of the Civil Code.

 

Premature
termination of the present agreement by Lessee is not possible. Insofar as
Lessor has granted its advance, written, express consent thereto, Lessee has
the authority to substitute a third party in its stead, in whole or in part, with
respect to the present agreement. Lessor shall not withhold its consent on
unreasonable grounds nor attach unreasonable conditions to its consent to the
substitution. At Lessee’s request, Lessor shall make every commercially
reasonable effort to find a third party for the aforesaid substitution. Any
costs incurred through such efforts shall be

 

	
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borne
by Lessee, if approved in advance and in writing by Lessee.

 

3.5                    Notice as
referred to in Sec. 3.4 shall be effected by way of writ or by registered mail.

 

4.                         Payment Obligation, Payment
Period

 

4.1                    Lessee’s
payment obligation arising from the present agreement comprises:

 

•                            the
rental fee (said fee being inclusive of the fee for leasing the parking spaces
named in Sec. 1)

 

•                            the
value-added tax owed on this rental fee or an amount corresponding thereto, in
accordance with and with due regard for the provisions of Stipulations 15.2 and
15.3 of the General Stipulations, provided that the parties have agreed to a
rental fee subject to value-added tax

 

•                            compensation
for the user-specific investments as referred to in Sec. 9.6.

 

4.2                    The annual
rental fee is €1,049,316 (one million forty-nine thousand three hundred sixteen
euros). This amount is derived as the total of €160.18 per square meter of
v.v.o. per year for the leased property plus €919 per parking space per year.

 

4.3                    The rental fee
is adjusted one year after the effective date in the first instance, and
subsequently as of February 1 of each year, in accordance with
Stipulations 4.1 and 4.2 of the “General Stipulations,” on the understanding
that the consumer price index series CPI-Employees Low (1990=100) is
replaced by the consumer price index series CPI-Employees Low (1995=100).

 

4.4                    The fees for
additional facilities and services are determined in accordance with
Stipulation 12 of the “General Stipulations.” Such fees shall be subject to a
system of advance payments with settlement at a later date, as indicated there.

 

4.5                    The payments
to be made to Lessor by Lessee are due in lump sums payable in advance for
successive payment period(s) as indicated in Sec. 4.6 and must be paid in full
prior to or on the first day of the period to which the payments relate.

 

4.6                    The rental fee
per payment period of one calendar month is €87,443.00. The rental fee per year
is €1,049,316.00. These amounts are exclusive of value-added tax.

 

4.7                    In view of the
effective date of the lease, the first payment period relates to the period
from the date of delivery through the last day of the respective calendar
month. The amount owed for that period shall be prorated according to the
number of days in that period. Lessee shall pay that amount, plus any
value-added tax owed thereon, prior to the date of delivery.

 

4.8                    The leasable
floor area named in Sec. 1.1 has been determined in accordance with the

 

	
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measurements
indicated in the Measurement Certificate prepared in conformity with NEN 2580,
Elta J. Class. Adjustments between Lessee and Lessor for under- or
over-measurement of the leased property are barred.

 

5.                         Value-Added Tax

 

5.1                    The parties
agree that Lessor shall charge Lessee no value-added tax on the rental fee if
they belong to the same VAT tax entity. If Lessor and Lessee cease to belong to
the same VAT tax entity, Annex 5 shall apply immediately.

 

6.                         Facilities and Services

 

6.1                    The Philips
High Tech Campus shall offer a number of centrally provided additional facilities
and services for all lessees. These are facilities and services that are of
interest to all lessees and are not business-specific, such as catering,
security, landscaping, etc. The Philips High Tech Campus site management and
Lessee shall in due course enter into consultation concerning additional
facilities and services to be utilized by Lessee by way of the consultation
body established for this purpose, known as the “Managing Board.”

 

6.2                    If specific
facilities and/or services on the so-called Central Strip of the Philips High
Tech Campus are provided or offered, Lessee is immediately barred from
(further) offering, directly or by way of third parties, these or comparable
facilities and/or services on the High Tech Campus to its employees whose normal
workplace is on the Philips High Tech Campus.

 

6.3                    Lessee and the
Philips High Tech Campus site management shall enter into further agreements
concerning the terms and conditions of facilities and services as referred to
in Sec. 6.1 and 6.2. The fees to be charged to Lessee shall be determined in
conformity with market conditions.

 

7.                         Bank Guarantee

 

7.1                    Contrary to
Stipulation 8 of the “General Stipulations,” Lessee is not obligated to furnish
a bank guarantee to Lessor.

 

8.                         Coordination

 

8.1                    Lessor designates
as its agent for performance of the present agreement the Philips High Tech
Campus site management, which shall act on its behalf.

 

9.                         Special Stipulations

 

9.1                    Substantive
alterations in the leased property require the advance written approval of Lessor.

 

	
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9.2                    Notwithstanding
the authorities to terminate the present agreement that Lessor may hold
under the provisions of Sec. 3.4 (iii) of the agreement, the parties agree
that if Lessee ceases to belong to the tax entity for value-added tax to which
Lessor and Lessee belong at the time when the agreement is entered into, then
they, if Lessor fails to exercise its authority to terminate the present
agreement as described hereinabove, effective from the time at which Lessee
ceases to belong to the tax entity as referred to hereinabove, shall enter into
a new leasing agreement with respect to the leased property and the appurtenant
parking spaces:

 

(i)                       in which it
is stipulated that the rental fee shall be subject to value-added tax;

(ii)                    that shall
incorporate the stipulations as attached to the present agreement as Annex 5;

(iii)                 whereby said
agreement shall be substantively identical to the present agreement, except
that Sec. 7 of the present agreement shall be replaced by a new Sec. 7 reading
as follows: “The bank guarantee referred to in Stipulation 8.1 of the “General
Stipulations” shall be in an amount equivalent to six times the rental fee for
the leased property per month plus the costs of the additional facilities and
services over that same period, as stipulated in the agreement that the present
agreement replaces and at the time immediately preceding the time at which the
present agreement replaces the previous agreement”; and

(iv)                in which it is
stipulated that the present agreement is terminated effective from the date on
which the new agreement enters into force.

 

9.3                    The October 1998
report by DNV B.V. concerning the exploratory soil study and the March 1999
report by Oranjewoud B.V. (Document No. 947051772) concerning the soil
study are deemed the environmental study whose performance is required prior
the start of the present agreement, as referred to in Stipulation 2.6.1 of the
General Stipulations.

 

9.4                    With the prior
written consent of Lessor, Lessee has the right, with due regard for locally
applicable ordinances and other regulations, to place advertising materials on,
in, near, or alongside the leased property. Lessor shall not exercise its right
to place advertising materials on and/or alongside the leased property as
referred to in the “General Stipulations.”

 

Lessor
shall grant or deny written consent in conformity with the policy pertaining
thereto, to be established as appropriate by the steering committee.

 

9.5                    The following
elements of Stipulations 9.2.1 and 9.2.4 of the “General Stipulations” are
considered altered:

 

(i)                       the
following is added to the stipulation under 9.2.1 (c): “insofar as mounted on
the interior of the leased property and subject to renovation owing to normal
wear and tear”;

(ii)                    the following
is added to the stipulation under 9.2.1 (d): “subject to renovation owing to
normal wear and tear”;

(iii)                 in the
stipulation under 9.2.1 (g), the parentheses around “and renovation of small
components” are disregarded;

(iv)                in the stipulation
under 9.2.4, the phrase “and the cleaning of ventilation conduits is

 

	
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6

 

disregarded.”

 

Costs
of maintenance, repair, and renovation that are not borne by Lessee pursuant to
the stipulations of (i) through (iv) shall be borne by Lessor.

 

9.6                    Notwithstanding
the provisions of Stipulation 5.1 of the “General Stipulations,” with respect
to the so-called user-specific investments made by Lessor on behalf of Lessee
as further specified in Annex 7 to the present agreement, the interest and
repayment of principal on said user-specific investments shall be paid by
Lessee in the form of an annual payment over the term of the present
agreement, due each January 1, of €310,829.00, this being the annual
annuity for interest and repayment of principal for said user-specific
investments calculated with a term of 15 years and an interest rate of 7% per
annum paid in arrears. At the end of the present leasing agreement, unless
Lessor is at fault for termination, the cash value—calculated at an interest
rate of 7% per annum paid in arrears—of the remaining annual annuities—over the
period of 15 years after the date of delivery—shall be payable immediately and
in full by Lessee to Lessor. If a subsequent owner or lessee wishes to retain user-specific
investments in the leased property. Lessee’s obligation to remove user-specific
investments at the end of the leasing agreement expires and any compensation
paid for them by the subsequent owner or lessee shall be for the benefit of
Lessee.

 

9.7                    The present
agreement supersedes all prior arrangements made between Lessee and Lessor with
respect to the subject matter of the present agreement (including all
appurtenant annexes).

 

Made
and subscribed in duplicate

 

	
  Place:

  Date:

  	
  Place: Eindhoven

  Date: 9-26-2002

  
	
   

  	
   

  
	
  Philips Semiconductors B.V.

  	
  Philips Electronics Nederland B.V.

  
	
   

  	
   

  
	
  [signature]

  	
  [signature]

  
	
   

  	
   

  
	
  J. Lobbezoo

  	
  T. Classen

  	
  J. Willed

  	
  C.H.L van der Linden

  
				

 

	
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7Exhibit 10.4

 

 

Strijbosch Thunnissen

 

 

LEASE AGREEMENT

 

Bijsterhuizen 11-36

in Nijmegen

 

DYNAMIS

 

 

 

 

 

Copy: 

0 Lessor 

0 Lessee 

0 Broker

 

	
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2

 

	
  ESSENTIALS

  	
   

  	
   

  
	
  Lessor

  	
   

  	
  :Spronsen Vastgoed [real estate]
  B.V.

  
	
  Lessee

  	
   

  	
  :Philips Semiconductors B.V.

  
	
  Property

  	
   

  	
  :Bijsterhuizen 1136 in Nijmegen

  
	
  Initial
  rental fee

  	
   

  	
  :NLG 250.00 per m(2) per year
  excluding VAT and excluding service costs and NLG 700.00 excluding VAT per
  parking space per year

  
	
  Lease
  period

  	
   

  	
  :April 01, 2001 or as much earlier
  as possible 

  through March 31, 2006

  
	
  Option
  period

  	
   

  	
  :April 01, 2006 through March 31,
  2011

  

 

	
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3

 

LEASE
AGREEMENT FOR OFFICE PREMISES and other commercial space following Model ROZ

 

	
  The
  undersigned

  	
  Spronsen Vastgoed B.V.,

  
	
   

  	
   

  
	
   

  	
  legally represented in this matter by its directors,

  Ms. M. E. Malenstein and Mr. A. P. S. Malenstein

   

  having its principal place of business in 6546 AS
  Nijmegen at Bijsterhuizen 11-38, telephone 024 —345 55 40, fax 024 — 345 55
  04,

  
	
   

  	
   

  
	
  hereinafter called “the lessor”

  
	
   

  
	
  and

  	
  Philips Semiconductors B.V.

  
	
   

  	
   

  
	
   

  	
  legally represented in this matter by

  Mr. J. W. Ramaekers, Eng.,

  
	
   

  	
   

  
	
   

  	
  with registered office in 5652 AH Eindhoven at
  Hurksestraat 19,

  telephone 024 — 353 27 90, fax 024 — 353 31 01,

  
	
   

  	
   

  
	
   

  	
  registered in the Commercial Register for Southeast
  Brabant 

  under number 70621

  

 

hereinafter called “the
lessee,” the lessor and the lessee hereinafter also called “the parties,”

declare that they have agreed the following:

 

The
leased property, intended purpose and use

 

1.1                    The lease
agreement relates to the office premises located on the first, the third, the
fourth and the fifth floor as well as the cafeteria on the second floor and the
share in the general spaces belonging to these spaces and 60 nearby parking
spaces, hereinafter called “the leased property,” known locally as
Bijsterhuizen 11-36 in Nijmegen, known cadastrally as the Municipality of
Neerbosch, Section L, Number 264, and further indicated in yellow on the
drawing of the leased property attached to this agreement and authenticated by
the parties and sufficiently known to the parties that they desire no further
description.

 

1.2                    The leased
property may only be used as office premises, inter
alia for test setups which are coupled to test equipment and serve
for the testing of whether the functionality of chips or parts of chips is
correct. In this, no hazardous or risk–elevating substances shall be used.

 

1.3                    It shall not
be permitted to the lessee and/or user to use the leased property for any
purpose other than that described in 1.2 without prior written permission from
the lessor.

 

	
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4

 

1.4                    A difference
between the floor space(s) of the leased property mentioned in this lease
agreement and the actual floor space(s) shall not give to either of the parties
any right of adjustment of the rental fee and/or the terms and conditions. The
parties agree to the floor space calculation drawn up by Zegers Bouwbedrljf
[construction company] attached to this agreement and authenticated.

 

1.5                    The lessor
agrees not to load the floor space in use greater than that which is
technically permissible: 300 kg/m(2).

 

Terms
and conditions

 

2.1                    A part of this
lease agreement shall be the general stipulations for a lease agreement for
office premises not from Article 7A: 1624 of the Civil Code, deposited with the
Clerk of the Court in The Hague on February 29, 1996 and registered there under
number 34/1996, hereinafter called the “general stipulations.”

 

The content of these
general stipulations is known to the parties. The lessee has received a copy of
them, or they are attached to this lease agreement.

 

2.2                    The provisions
referred to in 2.1 shall be applicable except insofar as they are expressly
deviated from in this lease agreement or application thereof with respect to
the leased property is not possible.

 

Duration,
extension and cancellation

 

3.1                    This lease
agreement shall be entered into for a period of 5 (five) years, starting on
April 01, 2001 and running through March 31, 2006.

 

3.2                    After the end
of the period stated in 3.1, this lease agreement, unless cancellation by the
lessee in accordance with 3.3 has taken place, shall be continued for a subsequent
period of 5 (five) years, therefore through March 31, 2011. This agreement
shall then be continued for subsequent periods each time of 12 (twelve) months
unless the lease agreement is cancelled by one of the parties or by both
parties, with observance of a notice period of at least 12 (twelve) months.

 

3.3                    Termination of
this agreement shall take place by cancellation toward the end of a lease
period with observance of a notice period of at least 12 (twelve) months.

 

3.4                    Cancellation
should occur by means of a writ or by registered letter.

 

3.5                    Interim
termination of this lease agreement shall be possible in a circumstance as
stated in Article 7 of the general stipulations, Art 10.3 of the lease
agreement and with the observance of the applicable mandatory requirements.

 

	
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5

 

Payment obligation,
payment period

 

4.1                    The payment
obligation of the lessee consists of:

 

•                            the
rental fee;

•                            compensation
for any additional supplies and services mentioned under 6;

•                            the
value-added tax on this rental fee and additional supplies and services or a
corresponding amount in accordance with and taking into account Article 5 of
this lease agreement, at least if the parties have agreed upon a lease subject
to value-added tax.

 

4.2                    The rental fee
per quarter shall amount to NLG 186,187.50. 

in words: – one hundred eighty-six thousand one hundred eighty-seven guilders
and fifty cents–

 

4.3                    The rental fee
shall be adjusted annually on 01 April, for the first time on 01 April 2002 and
then further in accordance with Articles 4.1 through 4.3 of the general
stipulations.

 

4.4                    Notwithstanding
a rental fee adjustment on the basis of 4.3, each of the parties shall be
entitled to request an adjustment of the rental fee based on market value. That
adjustment can take place for the first time starting on April 01, 2006 and
then each time after a period of at least 5 (five) years after the last rental
fee adjustment to the market value. If a party wishes to make use of this
entitlement, he shall notify the other party thereof by means of a registered
letter with a return receipt, at the latest 6 (six) months before the date on
which the revised rental fee must start.

 

If the parties have not
come to an agreement about the rental fee adjustment within 2 (two) months
after receipt of this notification, the rental fee shall be determined by three
experts. The experts should receive the instruction to take into account all
that has been agreed between the parties with respect to the leased property
and the circumstances of the case, such as location, size, layout and quality
of the leased property and the facilities in and around the leased property, as
well as the mutually agreed or judicially determined rental fees of comparable
commercial spaces.

 

Of these three experts,
one will be designated by each of the parties within fourteen days after the
request by one of the parties for that purpose has reached the other party.

 

An expert shall make
known within eight days after the date of the assignment whether he accepts it.

 

The third expert shall be
designated by these two experts within eight days after they both have accepted
their designation. The judgment of the three experts shall be decisive in case
of lack of agreement among the experts on the rental fee to be established. If
one of the parties remains in default in designating an expert or if the
experts designated by the parties cannot come to an agreement on the third
expert, then the party taking the initiative can ask the Chairman of the
Chamber of Commerce and Industry of the region in which the leased property is
located to appoint the expert(s). A party shall bear the costs of the expert
designated by that party. The costs of the third expert shall be divided in half
between the two parties. The experts shall receive the instruction to issue
their report within six weeks after their designation is firm.

 

	
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6

 

After the rental fee has
been adjusted to the market value, the next rental fee indexation shall take
place on the date as agreed in 4.3 of the lease agreement with the
understanding that that rental fee adjustment shall take place in proportion to
the period that has passed since the date of the rental fee adjustment to the
market value.

 

4.5                    The
compensation for any agreed additional supplies and services shall be
determined in accordance with Article 12 of the general stipulations. A system
of advance payments with later settlement shall be applied to this compensation
as is indicated there.

 

4.6                    The lessor
shall see to it that an invoice is sent to the accounts payable department of
the lessee with a statement of order number: 

 

The lessee shall ensure
payment in one amount within 30 calendar days after the date of the invoice
provided the invoice is drawn up correctly according to agreement.

 

The dating of the invoice
shall be a maximum of 30 calendar days prior to the first of each pay period
and should be received by the lessee at the latest 5 days after date.

 

4.7                    Per pay period
of 1 (one) quarter, the amounts are:

 

	
  •                             the
  rental fee 

  	
   

  	
  NLG

  	
  186,187.50 

  
	
  •                             the
  advance payment on the compensation for additional supplies and services

  	
   

  	
  NLG

  	
  21,082.50

  
	
  •                             Total

  	
   

  	
  NLG

  	
  207,270.00

  

 

in words: – two hundred
seven thousand two hundred seventy guilders–

 

to be increased by the
value-added tax.

 

Value-added tax

 

5.1                    All amounts
mentioned in this lease agreement shall be exclusive of value-added tax (VAT).
The parties agree that the lessor shall invoice the lessee value-added tax
(VAT) on the rental fee and any agreed additional supplies and services.

 

The value-added tax (VAT)
shall be invoiced by the lessor and should be paid at the same time as the
rental fee and any agreed compensation for additional supplies and services, or
the advance payment thereon.

 

	
  [initials]

  Initials of lessee

  	
   

  	
  [initials]

  Initials of lessor

  

 

7

 

5.2                    The lessee and
the lessor declare expressly that, in determining the rental fee, the
assumption was that the lessee shall continue to use the leased property at
least the minimum percentage established by law or to be established by law for
activities which give the right to deduct value-added tax (VAT), such that they
can opt for a lease subject to value-added tax.

 

5.3                    The lessee and
the lessor shall make use of the possibility on the basis of Notice 45, Decree
of March 24 1999, Number VB 99/571, to waive the submission of a joint option
request for a lease subject to value-added tax and to confine themselves to a
statement to be completed and signed by the lessee, which statement shall be an
integral part of the present lease agreement.

 

5.4                    Before or at
the latest at the signing of this lease agreement, the lessee shall submit to
the lessor a statement completed and signed by the lessor, in accordance with a
model made available to the lessee by the lessor, which shows that the lessee
shall use the leased property for purposes for which a complete or almost
complete right of deduction of value-added tax exists as laid down in Article
15 of the Value-added Tax Act of 1968.

 

5.5                    The lessee
herewith states that his fiscal year runs from January 01 through December 31.

 

5.6.a           If the lessee is not/no
longer using the leased property for activities which give the right to deduct
value-added tax (VAT) and because of that the exception to the deduction of
value-added tax (VAT) is ended, the lessee shall no longer owe value-added tax
(VAT) on the rental fee to the lessor or his legal successor(s), but then the
lessee, starting on the date on which that termination becomes effective, in
addition to the rental fee less value-added tax (VAT), shall owe as a separate
compensation to the lessor or his legal successor(s) and amount such that the
latter shall be completely compensated for:

 

I                              The
value-added tax (VAT) no longer deductible as a result of the ending of the
option for the lessor or his legal successor(s) on the operating costs of the
leased property or investments therein.

 

II                          The
value-added tax (VAT) that the lessor or his legal successor(s) will have to
pay to the tax authorities as a result of the ending of the option because of
recalculation as referred to in Article 15, Paragraph 4, of the Value-added Tax
Act of 1968 or revision as referred to in Articles 11 though 13 of the
Value-added Tax implementation Decree of 1968.

 

III                      All other
damage suffered by the lessor or his legal successor(s) because of the ending
of the option.

 

5.6.b          The damage as a result
of the ending of the option for the lessor or his legal successor(s) of not/no
longer being able to deduct value-added tax (VAT) as referred to in I under
5.6.a shall be established by the parties in advance at 9% of the (indexed)
rental fee.

 

5.6.c           The financial
disadvantage suffered by the lessor or his legal successor(s) after the ending
of the option because of the ending of the option shall be paid each time to
the lessor or his legal successor(s) simultaneously with the periodic rental
fee payments and shall be, with the exception of damage as referred to in I
under 5.6.a, if possible by means of an annuity, equally distributed over the
remaining duration of the current lease period, but can be immediately,
completely and at one time be made due and payable from the lessee if this
lease agreement is terminated in the interim for whatever reason.

 

	
  [initials]

  Initials of lessee

  	
   

  	
  [initials]

  Initials of lessor

  

 

8

 

5.7                    That which is
stated under 5.6.a shall not be applicable if, when entering into the present
lease agreement, the revision period for the deduction of VAT already paid,
with respect to the leased property has already passed.

 

5.8                    That which is
stated under 5.6 shall also be applicable if the lessee, upon entering into the
lease agreement, does not complete, sign and has not given to the lessor a VAT
declaration as referred to under 5.4. That which is stated in 15.2 of the
general stipulations which are part of this agreement is therefore herewith
expressly declared not applicable.

 

5.9                    When a
situation as referred to under 5.6 occurs, the lessor or his legal successor(s)
shall notify the lessee what amounts must be paid by the lessor or his legal
successor(s) to the tax authorities and give an insight into the other damage
as referred to under 5.6, such with the exception of the damage determined in
advance as referred to in I under 5.6.a. The lessor or his legal successor(s)
shall provide his cooperation if the lessee wishes to verify the statement of
the lessor or his legal successor(s) by an independent certified public
accountant. The costs of this shall be for the lessee’s account.

 

5.10              In case in any
fiscal year, the requirement of use for purposes as reflected under 5.2 is not
met, the lessee shall notify the lessor or his legal successor(s) within four
weeks after the end of the relevant fiscal year by means of a statement to that
effect signed by the lessee. Within that same period, the lessee shall send a
copy of that statement to the Inspector of Value-added Tax.

 

5.11              If the lessee does
not satisfy the notification obligation as referred to under 5.4 or under 5.10
and/or does not satisfy the obligation for putting into use as referred to
under 5.13, or it turns out afterwards that he made an incorrect assumption and
the lessor or his legal successor(s) because of that, according to what turns
out afterwards, erroneously invoiced value-added tax (VAT) on the rental fee,
lessee shall be in default and the lessor or his legal successor(s) shall be
entitled to claim the financial damage occurring therefrom from the lessee.

 

This damage shall concern
the entire value-added tax (VAT) still owed to the tax authorities by the
lessor or his legal successor(s), increased by interest, any increases, as well
as further costs and damages. This article provides a damage compensation
arrangement in case the option should be ended with retroactive effect, such in
addition to the arrangement reflected under 5.6. The extra damage that arises
for the lessor or his legal successor(s) from that retroactive effect shall be
immediately, completely and at once due and payable by the lessee. The lessor
or his legal successor(s) shall cooperate if the lessee wishes to verify the
statement of the lessor or his legal successor(s) by an independent certified
public accountant. The costs of this shall be for the lessee’s account.

 

5.12              That which is stated
under 5.6, 5.9 and 5.11 shall likewise be applicable if the lessor or his legal
successor(s) for the first time after termination, interim or not, of this
lease agreement are confronted with damage because of the termination of the
option valid for the parties, which damage then shall be Immediately,
completely and at once due and payable to the lessor or his legal successor(s).

 

	
  [initials]

  Initials of lessee

  	
   

  	
  [initials]

  Initials of lessor

  

 

9

 

5.13              Without prejudice to
the other provisions of this lease agreement, the lessee shall in any case put
into use the leased property, with application of the option right, before the
end of the fiscal year in which he leases the leased property.

 

Supplies and services

 

6.1                    The parties
agree on the following as additional supplies or services to be provided by or
on behalf of the lessor:

 

•                            gas
consumption, including standing charges, for the individual consumption of the
lessee;

•                            electricity
consumption, including standing charges, for the individual consumption of the lessee;

•                            electricity
consumption, including standing charges, for the installation(s) and the
lighting of the community areas;

•                            water
consumption, including standing charges, for the individual consumption of the
lessee;

•                            maintenance
(not being replacement maintenance as referred to in Article 9.1 of the general
stipulations) and periodic checks of heating and air conditioning
installation(s):

•                            maintenance
(not being replacement maintenance as referred to in Article 9.1 of the general
stipulations) and periodic checks of the elevator installation(s);

•                            maintenance
(not being replacement maintenance as referred to in Article 9.1 of the general
stipulations) and periodic checks of fire alarm, building security, malfunction
alarm and emergency power installation(s);

•                            cleaning
costs of the community areas, elevators, glazing, outside glazing of the
community areas, awnings, terraces, parking lot/basement;

•                            insurance
premium for outside glazing and glazing of the community areas;

•                            administrative
costs at NLG 1,000.00 excluding VAT per year to be indexed at the same time and
in the same manner as the rental fee, on the above-named supplies and services.

 

For the above supplies
and services, the lessor shall invoice the lessee for a cash advance to be settled
later of NLG 30.00 per m2 per year, to be increased by value-added
tax. The actual consumption shall be determined on the basis of the readings
from individual meters and for the other supplies and services which cannot be
registered by means of individual meters, the total costs for the
abovementioned supplies and services divided by the total surface area of the
building multiplied by the leased surface area.

 

If, in the building of
which the leased property is a part, there are one or more users who make
relatively more use of the above-named supplies and services, the
above-mentioned formula should possibly be adjusted.

 

Within a month after the
effective date of the present lease agreement, the parties shall hold a
consultation and make further agreements about the service levels of the
service contracts to be entered into.

 

The parties have agreed
that the lessee shall receive copies of the agreements entered into by the
lessor with respect to the above supplies and services. The copies must be sent
by the lessor to the lessee within a reasonable period after they have been
entered into.

 

	
  [initials]

  Initials of lessee

  	
   

  	
  [initials]

  Initials of lessor

  

 

10

 

Bank
guarantee

 

7.1                    Contrary to
Article 8 of the general stipulations, the parties have agreed that the lessee
need not provide a bank guarantee.

 

Manager

 

8.1                    Until the
lessor announces otherwise, Malcon Beheer [management] B.V. shall act as
manager for the leased property.

 

Annexes

 

9.1                    The following
annexes shall accompany this lease agreement:

 

•                            the
general stipulations;

•                            the
drawing of the leased property attached to this lease agreement and
authenticated by the parties;

•                            the
statement for taxed lease;

•                            surface
area calculation from Zegers Bouwbedrijf.

 

Special provisions

 

10.1              The parties agree
that the lessee shall have the right of substitution with respect to the leased
property, in which the lessor reserves the right of approval of the successive
lessee. The lessor shall only be able to withhold his approval of a candidate
proposed by the lessee on the basis of reasonableness and fairness—by this is
meant inter alia that the new
lessee is creditworthy, shall continue to use the leased property at at least
the minimum percentage established by law or to be established by law for
activities which give the right to deduct value-added tax (VAT), such that they
can opt for a lease subject to value-added tax or, if this is not done, that
the lessor is completely compensated herefor and they are prepared to issue a
rent guarantee of three months’ payment obligation.

 

10.2              After consultation
and written approval from the lessor and the responsible (government) agencies,
the lessee may affix his name on or to the leased property.

 

10.3              The lessee shall
have the right to end this lease agreement prematurely after the second year in
the first option period and therefore only as of April 1, 2008 without legal
intermediary with observance of a notice period of a minimum of 12 months. That
is to say that cancellation must take place in accordance with the provisions
of Art. 3.3 and 3.4 and before April 1, 2007. If the lessee makes use of this
right, the lessee shall owe a lump sum payment equal to a quarter of the annual
rental fee applicable as of April 1, 2008 to the lessor.

 

	
  [initials]

  Initials of lessee

  	
   

  	
  [initials]

  Initials of lessor

  

 

11

 

10.4              Supplementary to the
provisions of Art. 3.2, the parties have agreed that the lessor, with
observance of a period of at least 14 (fourteen) months and therefore before or
at the latest on January 1, 2005, shall indicate to the lessee that the lessee
can have cancellation take place in accordance with Art. 3. If the lessor does
not indicate, or indicates too late, that the lease cancellation can take
place, the notice period and option period shall be correspondingly changed.

 

Thus drawn up and signed
in triplicate,

 

 

	
  Place

  	
  Date

  	
  Place

  	
  Date

  
	
  Nijmegen

  	
  April 2, 2001

  	
  Nijmegen

  	
  April 3, 01

  
	
  

  (lessee)

  	
   

  	
  (lessor)

  	
   

  
	
  

  [signature]

  	
   

  	
  [signature]

  	
   

  
	
   

  	
   

  	
  [signature]

  	
   

  

 

	
  [initials]

  Initials of lessee

  	
   

  	
  [initials]

  Initials of lessor

  

 

12

 

HOMBURG

 

RIDER I

 

To accompany the lease
agreement dated April 1, 2001 with respect to the office premises located on
the first, the third, the fourth, the fifth floor as well as the cafeteria on
the second floor and part of the general area and 60 parking spaces located at
Bijsterhuizen 11-36 in Nijmegen.

 

The undersigned:

 

N.V. Interpolis Onroerend
Goed [real estate], legally represented by Interpolis Vastgoed B.V., with
registered office in Zoetermeer, at Louis Braillelaan 100, 2700 AG, legally represented
by Mr. G. T. J. Droge, Esq., and Mr. C. van Gent, as legal successor
to Spronsen Vastgoed B.V.

 

hereinafter
called “the lessor”

 

and

 

Philips Semiconductors
B.V., with registered office in Eindhoven at Hurksestraat 19, 5652 AH,
registered in the Commercial Register for Southeast Brabant under number 70621,
represented in this matter by Mr. J. W. Ramaekers, Eng.,

 

hereinafter
called “the lessee”

 

Considering that:

 

1.                          The
lessee and the lessor entered into a lease agreement with respect to the office
premises located on the first, the third, the fourth, the fifth floor as well
as the cafeteria on the second floor and part of the general area and 60
parking spaces located at Bijsterhuizen 11-36 in Nijmegen.

 

2.                          The
lessee and the lessor have agreed that, contrary to Article 3.2 of the lease
agreement mentioned in the heading, the lease agreement, after the first lease
period elapses, shall be continued through June 30, 2007.

 

3.                          Contrary
to Article 10.3 of the lease agreement, the lessee and the lessor have agreed
that the lessee shall make use of the lessee’s right to end the lease agreement
in the first option period already on June 30, 2007, in which the lessee has
already taken into account a notice period of a minimum of 12 months. In
connection with this, the parties have agreed that the lessee owes the lessor a
lump sum of EUR 55,000.00 (excluding VAT).

 

declare – in connection
with or contrary to the above-named lease agreement dated April 1, 2001 to have
agreed as follows:

 

A.                      contrary to
Article 3.2, the lease agreement between the parties, after the end of the
first lease period, shall be extended through June 30, 2007.

 

Homburg Vastgoed Management B.V.

[illegible]

 

 

 

B.                        the lease
agreement between the parties shall legally end on June 30, 2007.

 

C.                        the lessee
herewith makes use of its right to end the lease agreement prematurely in the
first option period, however contrary to Article 10.3 on June 30, 2007, in
which the lessee has already taken into account a notice period of a minimum of
12 months. Since the lessee is making use of this right of premature
termination, the lessee, contrary to Article 10.3, shall on June 30, 2007 owe
to lessor a lump sum of EUR 55,000.00 (excluding VAT).

 

D.                       all
provisions of the lease agreement mentioned in the heading dated April 1, 2001
shall remain or shall be in full force insofar as not changed by the foregoing.

 

Thus drawn up in
triplicate and signed at

 

 

	
        ,
  dated         

  	
  Nijmegen, dated Aug 19, 2005

  
	
  

  N.V. Interpolis Onroerend Goed

  	
  Philips Semiconductors B.V.

  
	
   

  	
   

  
	
  [signature]

  	
  [signature]

  
	
  

  Mr. G. T. J. Droge, Esq.

  	
  Mr. J. W. Ramaekers, Eng.

  
	
  

  [signature]

  	
   

  
	
   

  	
   

  
	
  Mr.
  C. van Gent

  	
   

  

 

 

 

	
  Annex
  to contract

  	
  PHILIPS

  

 

Philips
Semiconductors

 

Gerstweg 2, 6534 AE
Nijmegen, The Netherlands

 

Spronsen Vastgoed B.V.

Attn: Ms. Margriet Malenstein

Bijsterhuizen 11-38

6546 AS Nijmegen

 

 

	
  Date

  	
  : Nijmegen, April 3, 2001

  
	
  Reference

  	
  : RNB-B77/01-III-044

  
	
  Re

  	
  : Supplement to lease contract for Bijsterhuizen
  11-34

  

 

Dear Ms. Malenstein,

 

[Initials]

 

By means of this letter,
I confirm our agreement that, supplemental to what is written in the lease
contract, the original condition as described in the contract shall be
determined based on a final delivery after the end of the *alterations.

 

The condition applicable
at that moment shall be considered as the original condition in which the
building must again be delivered at the end of the contract. With the aid of
photos, which are being provided by Mr. M. B. Honee of Strijbosch
Thunissen brokers, a delivery file will be assembled which shall be signed by
both parties.

 

We also confirm that,
contrary to what is stated in the contract, the first invoice need not be
provided with an order number. This invoice should be sent to the attention of
Mr. S. J. Nagtegaal, Philips Nijmegen. Philips will ensure timely
provision of the order number before the next invoice should be sent.

 

Signed in agreement by
both parties:

 

	
  April 3, 01

  	
  April 3, 01

  
	
   

  	
   

  
	
  [signature]

  	
  [signature]

  
	
   

  	
   

  
	
  Sietse Nagtegaal
  

  Purchasing FBN 

  Philips Semiconductors BV Nijmegen

  	
                                      

  Spronsen Vastgoed BV 

  Nijmegen

  

 

	
  * approved and agreed

  	
   

  

 

	
  Purchasing Dept.
  FBN 

  Kme.FE 0.007 

  Tel 024-3532849/3534846 

  Fax 024-3536100

  	
  Philips Semiconductors B.V.

  Nijmegen, The Netherlands 

  Commercial Register Eindhoven No. 17070621

  

 

 

 

	
  M-O-G

  	
  Lange Vlierstraat 365

  
	
   

  	
   

  
	
  Vastgoed/Management
  B.V.

  	
  P. O. Box 19060

  2501 DB Utrecht

  Telephone 030 232 69 99 

  Fax 030 232 69 70

  

 

Philips Semiconductors
B.V.

c/o Hurkestraat 18 

5652 AH EINDHOVEN

 

	
  Utrecht,

  	
   

  	
  May 28, 2001

  
	
  Reference:

  	
   

  	
  ES/DR

  
	
  Handled
  by:

  	
   

  	
  Dick Roest

  
	
  Re:

  	
   

  	
  Office premises at BIJSTERHUIZEN 11-36 in Nijmegen

  

 

Dear Sir/Madam,

 

Recently, the commercial
complex “De Hanze” was purchased by N.V. Interpolis Onroerend Goed. The
management of the relevant commercial space will be performed by M.O.G.
Vastgoed/Management B.V. in Utrecht effective today.

 

With regard to the
above-mentioned building, we call your attention to the following.

 

Lease payment

 

We request you to
transfer (have transferred) the obligation owed monthly for the lease,
effective April 1, 2001 and then at the latest on the first day of the calendar
quarter to the provisional bank account number 30.00.29.780 in the name of N.V. Interpolis Onroerend Goed in
Rotterdam.

 

With respect to the
definitive bank account number, we will inform you as quickly as possible. The
rent invoices, with respect to the second quarter of 2001, we will likewise
send to you as soon as possible.

 

Below you will find some
information for your own administration:

 

	
  Owner:

  	
   

  	
  N.V. Interpolis Onroerend Goed

  
	
  VAT number:

  	
   

  	
  94 57 513 B.011030

  
	
  Address:

  	
   

  	
  P. O. Box 973

  
	
   

  	
   

  	
  3000 AZ Rotterdam

  

 

Maintenance Matters

 

We request that you
inform our office in Utrecht, to the attention of Mr. G. J. Bouts,
regarding maintenance matters with respect to the leased property. For urgent
cases, you can of course contact us by telephone at the emergency number
030-233 09 50. Outside of office hours, the answering machine will let you know
what persons and telephone numbers you can reach for urgent matters.

 

 

M.O.G.
Vastgoed/Management BV, Chamber of Commerce Utrecht No. 27134417

Real estate specialists in Commercial Real Estate, Residences and Owners’
Associations

with branches in Utrecht, Eindhoven and Zoetermeer

 

 

 

Other matters

 

For all other matters,
you can also contact our branch in Utrecht

 

	
  Street
  address: 

  Mailing address:

  	
   

  	
  Langevlierstraat 365

  P.O. Box 19060

  3501 DB UTRECHT

  
	
   

  	
   

  	
   

  
	
  Telephone
  number: 

  Fax number: 

  Emergency number:

   

  Contact person:

  	
   

  	
  030 — 232 66 99 

  030 — 232 69 70 

  030 — 233 09 50

   

  Mr. E. A. Schoonderwoerd, Esq.
  

  Mr. G. J. Bouts (technical matters)

  

 

We trust that we have
informed you sufficiently and hope for good cooperation.

 

With best regards,

M.O.G. Vastgoed/Management BV

 

[signature]

 

E. A. Schoonderwoerd,
Esq. 

Account Manager, Real Estate

 

 

	
   

  	
  -M.O.G.-

  
	
   

  	
  Vastgoed/Management BV

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