Document:

exv10w1w25

 

Exhibit 10.1.25

TERRA INDUSTRIES INC.

2006 OFFICERS AND KEY EMPLOYEES INCENTIVE PLAN

	•	 	Participation — Terra’s President and Chief Executive Officer (CEO) and the Terra
officers and key employees the CEO selects to participate.

	•	 	Authority — The CEO selects the bonus target for each participant and evaluates each
participant’s goal achievement. The Compensation Committee of the Board of Directors
approves the totals of the Plan’s targeted bonuses (the “Pool”) and amounts awarded.

	•	 	Goals — Each participant selects goals for the year. The CEO approves all goals and
any changes in goals during the year. Each participant evaluates his/her goal achievement
in January 2007. The CEO accepts each participant’s goal achievement or modifies it to
recognize the value of the goal achievement to Terra, changed conditions, etc.

	•	 	Bonuses awarded — While bonuses paid to each participant are subject to the CEO’s
judgment and Compensation Committee’s approval, the total of bonuses paid will depend on
Terra’s 2006 net income (“Income”) as follows:

	 	°	 	If Terra’s 2006 Income is less than $30 million — Discretionary
bonuses of as much as 50% of each participant’s targeted bonus (year-end base
salary times the percentage bonus target selected by the CEO) may be paid based on
Terra’s overall performance and each participant’s goal achievement.
	 
	 	°	 	If Terra’s 2006 Income is $30 million — Bonuses totaling 50% of the
Pool will be paid based on the individual and aggregate goal achievement of the
Plan’s participants.
	 
	 	°	 	If Terra’s 2006 Income is more than $30 million but not greater than
$105 million — The portion of the Pool paid will be increased by 1% for each $0.5
million Terra’s 2005 Income is above $30 million to a maximum payment of 200% of
the Pool.
	 
	 	°	 	If Terra’s 2006 Income exceeds $105 million — Bonuses in excess of
200% of the Pool may be awarded solely at the Compensation Committee’s discretion.

	•	 	Payment of bonuses — Bonuses will be paid after the Compensation Committee has approved
the discretionary bonuses, if any, or, in the event Terra’s 2006 Income is $30 million or
more, the bonus Pool calculation and distribution. To receive a bonus, a participant must be a Terra employee on the day the bonuses are paid.exv10w1w26

 

Exhibit 10.1.26

TERRA INDUSTRIES INC.

DESCRIPTION OF COMPENSATORY ARRANGEMENTS FOR 2006

APPLICABLE TO NAMED EXECUTIVE OFFICERS

Set forth below are compensatory arrangements as of March 1, 2006, applicable to Terra’s current
executive officers who will be named in the summary compensation table of Terra’s proxy statement
for the 2006 annual meeting of shareholders (“Named Executive Officers”). These arrangements are in
addition to the various other compensatory plans and arrangements in which Terra’s Named Executive
Officers participate and which are filed as exhibits to this report on Form 10-K for the year ended
December 31, 2005.

Annual Base Pay 

	 	 	 	 	 
	Michael L. Bennett
	 	$	500,000	 
	President and Chief Executive Officer
	 	 	 	 
	 
	 	 	 	 
	Francis G. Meyer
	 	$	334,000	 
	Senior Vice President and Chief Financial Officer
	 	 	 	 
	 
	 	 	 	 
	W. Mark Rosenbury
	 	$	255,000	 
	Senior Vice President and Chief Administrative Officer
	 	 	 	 
	 
	 	 	 	 
	Joseph D. Giesler
	 	$	224,000	 
	Senior Vice President, Commercial Operations
	 	 	 	 
	 
	 	 	 	 
	Mark A. Kalafut
	 	$	218,000	 
	Vice President, General Counsel and Corporate Secretary
	 	 	 	 

Executive Retention Agreements 

Each of the Named Executive Officers has entered into an executive retention agreement, the details
of which are set out in Terra’s proxy statement under the caption “Employee Contracts, Termination
of Employment and Change of Control Arrangements.”

Bonuses 

Each of the Named Executive Officers received a bonus for 2005, payable in 2006, the details of
which are set out in Terra’s proxy statement in the Summary Compensation Table.exv4w0

 

Exhibit 4.0

(FORM OF STOCK CERTIFICATE - FRONT SIDE)

NUMBER

SHARES

COMMON 

STOCK

CUSIP

See reverse for certain definitions

CFS BANCORP, INC.

INCORPORATED UNDER THE LAWS OF INDIANA

This certifies that

is the registered holder of

FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, PAR VALUE $.01 PER SHARE, 0F

CFS Bancorp, Inc.,

Munster, Indiana (the “Corporation”), incorporated under the laws of the State of Indiana.

     The shares evidenced by this Certificate are transferable only on the books of the Corporation
by the holder hereof, in person or by a duly authorized attorney or legal representative, upon surrender of this
Certificate properly endorsed. This Certificate and the shares represented hereby are subject to
all the Provisions of the Certificate of Incorporation and Bylaws of the Corporation and any and
all amendments thereto. The shares represented by this certificate are not deposits or accounts and
are not federally insured or guaranteed. This Certificate is not valid unless countersigned by the
Transfer Agent.

     IN WITNESS WHEREOF, the Corporation has caused this Certificate to be executed by the
facsimile signatures of its duly authorized officers and has caused its facsimile seal to be affixed hereto.

Dated:

(SEAL)

	 	 	 	 	 	 	 
	/s/

	 	 	 	/s/	 	 
	 

	 	 

	 	 	 	 

	 

	 	Monica F. Sullivan
	 	 	 	Thomas F. Prisby
	 

	 	Corporate Secretary
	 	 	 	Chairman and Chief Executive Officer

 

(FORM OF STOCK CERTIFICATE - BACK SIDE)

     The Corporation is authorized to issue more than one class of stock, including a class of
preferred stock which may be issued in one or more series. The Corporation will furnish to any stockholder, upon written
request and without charge, a full statement of the designations, preferences, limitations and
relative rights of the shares of each class authorized to be issued and, with respect to the
issuance of any preferred stock to be issued in series, the relative rights, preferences and
limitations between the shares of each series so far as the rights, preferences and limitations
have been fixed and determined and the authority of the Board of Directors to fix and determine the
relative rights, preferences and limitations of subsequent series.

     The Articles of Incorporation of the Corporation includes a provision which generally
prohibits any person (including an individual, company or group acting in concert) from directly or
indirectly offering to acquire or acquiring the beneficial ownership of more than 10% of any class
of equity securities of the Corporation. In the event that stock is acquired in violation of this 10% limitation, the excess shares will no longer be counted in
determining the total number of

 

 

outstanding shares for purposes of any matter involving stockholder action and the Board of
Directors of the Corporation may cause such excess shares to be transferred to an independent
trustee for sale in the open market or otherwise, with the expenses of such sale to be paid out of
the proceeds of the sale.

     The Articles of Incorporation of the Corporation contains provisions that the affirmative vote
of at least 80% of the Voting Shares (as defined) may be required to approve certain business combinations and other
actions.

     The following abbreviations, when used in the inscription on the face of this Certificate,
shall be construed as though they were written out in full according to applicable laws or
regulations:

			
	TEN COM — as tenants in common
	 	UNIF GIFT MIN ACT                    Custodian                    
	 
	 	(Cust)                         (Minor)     

			
	 
	TEN ENT — as tenants by the entireties
	 	under Uniform Gifts to Minors 

	 	 	 	 	 	 	 	 	 
	JT TEN —

	 	as joint tenants right
	 	Act	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	of survivorship and not as tenants
	 	 	 	(State)	 	 
	 

	 	in common	 	 	 	 	 	 

Additional abbreviations may also be used though not in the above list.

     For value received                                                                                                    hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER

TAXPAYER IDENTIFYING NUMBER OF ASSIGNEE

	 	 	 
	/

	 	/

(Please print or typewrite name and address including postal zip code of assignee)

                                                                                                                                                                                    shares
of Common Stock represented by this Certificate, and do hereby irrevocably constitute and appoint
                                                                                                                                                                as Attorney, to

transfer the said shares on the books of the within named Corporation, with full power of substitution.

	 	 	 	 	 
	Dated

	 	                         ,	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Signature
	 
	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Signature

NOTICE: The signature(s) to this assignment must correspond with the name(s) as written upon the
face of this Certificate in every particular, without alteration or enlargement, or any change whatever. The signature(s)
should be guaranteed by an eligible guarantor institution (bank, stockbroker, savings and loan association or credit union)
with membership in an approved signature medallion program, pursuant to S.E.C. Rule 17Ad-15.exv10w5

 

LINKS ASSOCIATES, LTD., LEASE

     THIS
LEASE Agreement made and entered into this 20th day of September, 2005, by and
between Links Associates, Ltd., a Florida Limited Partnership, hereinafter referred to as
LANDLORD, address of which is 1345 Main St. Suite C-2, Sarasota,
Florida, 34236, it’s successors
and assigns; and First State Bank, hereinafter referred to as TENANT, address of which is 22
South Links Ave. suite 100 Sarasota, Fl. 34236.

1. Premises

     In consideration of the rents and covenants herein stipulated to be paid and performed by
Tenant and upon the terms and conditions herein specified, Tenant takes from Landlord the following
described premises (the PREMISES):

     Approximately 5283 square feet of Gross Rentable Area, as such term is defined below, located on
the 2nd floor, known as Suite 200 located at 22 South Links Avenue, Sarasota, Florida
34236, as shown on exhibit A, attached hereto and made a part hereof, (The Property). Total gross
rentable area is deemed to be approximately 5283, square feet.

(a) ADDITIONAL RENT: all amounts which this Lease requires Tenant to pay in addition to Base
Monthly Rent.

(b) BUILDING: Entire building that the premises is contained in Square footage of building is
estimated to be 21,900 square feet.

(c) BUILDING/PROJECT COMMON AREA EXPENSES: An amount of money equal to the product
obtained by multiplying the Common Area Operating Expenses by a fraction, the numerator
of which is the rentable area of the premises and the denominator of which is the
rentable area of the Project.

(d) BUILDING/PROJECT OPERATING EXPENSES: Any and all reasonable and customary costs and
expenses paid or incurred by Landlord in the operation, maintenance, servicing and
management of the Building, including without limiting the generality of the foregoing,
all utilities and water and sewer charges, grounds maintenance, air conditioning repair
and maintenance, telephone, security, pest control, building cleaning, painting,
supplies, maintaining, repairing and replacing the building roof and building systems
equipment, parking lot maintenance and resurfacing, administration expenses,
insurance, personal property taxes, real estate taxes, garbage and trash collection and
such other miscellaneous items as Landlord may determine to be necessary.

(e) COMMON
AREA: All those interior and exterior portions of the Project as may be
designated from time to time by Landlord for use in common by Tenants of the Project and
their employees, guests, customers or prospective customers, agents or invitees.

(f) COMMON AREA OPERATING EXPENSES: Any and all reasonable customary costs and expenses
paid or incurred by Landlord in the operation, maintenance; servicing and management of
the Common Area, including, without limiting the generality of the foregoing, utilities
and water and sewer charges, grounds maintenance, air conditioning repair and
maintenance, telephone, security, pest control, building cleaning, painting, supplies,
maintaining, repairing and replacing the building, roof and building systems equipment,
parking lot maintenance and resurfacing, rent loss insurance, management fees,
professional fees and expenses, administration expenses, insurance,
personal property taxes, real estate taxes assessed against the common areas of the
project, garbage and trash collection and such other miscellaneous items as Landlord may
determine to be necessary, including a contingency charge.

(g) LEASE:
This office Lease (including Rider and Exhibits) as it may be amended from time to
time.

(h) LEASE
YEAR: A period of twelve (12) consecutive calendar months,
measured from the Commencement Date, or the anniversary thereof:
except that if the Commencement Date does not occur on the first day of a month, then the
period of twelve (12) consecutive months measured from the first day (or the anniversary
thereof) of the first full month immediately following the Commencement Date.

(i) PROJECT: The land and rights with all improvements located thereon.

 

 

(j) RENT: The Base Rent and Additional Rent.

(k) TAX YEAR: Means the twelve-month period commencing on January 1 immediately
proceeding the Commencement Date and each twelve-month period thereafter during the
Lease Term, or if the appropriate governmental tax fiscal period shall begin on any
date other than January 1, such other date.

(l) TENANT’S PERCENTAGE SHARE: Shall be determined from time to time by Landlord by
dividing the Rentable Area of the Premises by the Rentable Area of the project.

2. Use

     Tenant
may use the Premises for the operation of an Banking and related
office uses or other purpose Landlord may approve in writing, in advance, but for no other
purpose. Landlord reserves the right to approve or deny any other use, to be determined in
Landlord’s sole discretion. Tenant shall, at all times, conduct its business in a high grade and
reputable manner and in conformity with all applicable state, municipal or other regulatory body
having jurisdiction over the Tenant, and shall not commit waste or create a nuisance on the
Premises. Tenant will conform to the Declaration of Condominium, as well as any rules and
regulations incident thereto. The Tenant shall operate its business under the name of First State
Bank.

3. Term

     Subject to the terms, covenants, agreements and conditions contained herein, Tenant shall have
and hold the Premises for a term of three (5) years, commencing on January 1, 2006 and
terminating December 31, 2010. There shall be no delay in the commencement of the term of this
Lease or payment of rent as provided where Tenant fails to occupy the Premises when same are
substantially complete and available for Tenant’s use. The term shall commence on the following
date (hereinafter the “commencement date”):

     January 1,
2006*. *Tenant shall commence paying base and additional rent on the earlier to
occur: The date Tenant occupies the premises or January 1, 2006.

4. Base Rent

     Tenant
covenants to pay Landlord Base Rent, as that term is defined in this Section 4, which
is due and payable upon Tenant’s execution of this Lease as follows; the Base Rent shall be
computed at a rate of One Hundred and Twelve Thousand Fifty-Two 43/100 Dollars ($112,052.43)
annually equally divided into Twelve monthly installments of Nine Thousand Three Hundred
Thirty-Seven Dollars and 70/100 ($9,337.70). The Base Rent shall be due and payable in advance of
the 1st day of each month, without any offset or deduction, at the office of Landlord or elsewhere
as designated by Landlord’s written notice to Tenant.

A. It is understood that this Lease is a triple net Lease. Tenant is responsible for its
proportionate share of common area maintenance, real estate taxes and insurance. It is
estimated that these expenses will be approximately Two Thousand Three Hundred Twenty-Four
Dollars and 52/100 ($2,324.52) per month during the first year of the Lease. Future
adjustments are defined in this Lease Agreement. Items included in common area expenses
but are not limited to: management fees, liability and casualty insurance, Landscaping,
cleaning, electricity for common areas, fire protection, monitoring, elevator expenses
and other expenses that are necessary in order to keep a building of this type in good
working condition.

B.
Allocation of Operating Expenses: Tenant shall pay as Additional Rent
Tenant’s Percentage Share of Project Operating Expenses and Project Common Area
Expenses. On an annual basis and from time to time, as described herein, Landlord shall
advise Tenant of the estimated Tenant’s Percentage Share of Project Operating Expenses
and Project Common Area Expenses for the next relative period. Tenant shall pay in
advance in monthly installments the estimated Tenant’s Percentage Share of Operating
Expenses and Common Area Expenses. Tenant shall also pay Tenant’s Percentage Share of
adjustments to the actual Operating Expenses and actual Common Area Expenses on a
quarterly or annual basis (as more fully described below) at Landlord’s option.

At any time during the Lease Term, but no later than ten (10) days before the date a
rental payment is due, Landlord may deliver to Tenant a written estimate of any increase
in Tenant’s Percentage Share of Operating Expenses and Common
Area Expenses which may be
reasonably anticipated pursuant to this Section 5.1. Tenant shall pay to Landlord the
amount of any such estimated increase in equal monthly installments no later than the
first day of each month for such full or partial
calendar year for which the estimate was made.

 

 

Statements showing Tenant’s Percentage Share of the actual Operating Expenses and
actual Common Area Expenses shall be prepared in reasonable detail and according to
Generally Accepted Accounting Principles. Said statements shall be known as
“Statements of Actual Adjustment”. Landlord shall deliver such a Statement of Actual
Adjustment to Tenant within one hundred twenty (120) days after the end of any
calendar year in which additional charges were paid by Tenant under the provisions
of this Section 5.1 or, at the option of Landlord, within
forty-five (45) days after
the expiration of each calendar quarter. Any delays in notifying tenant of such
charges shall not waive tenant’s obligation to pay any charges due.

Within fifteen (15) days after Landlord delivers to Tenant such Statement of Actual
Adjustment, Tenant shall pay to Landlord the amount of any additional charges shown
as being due and unpaid on such Statement. If such Statement of Actual Adjustment
shows that Tenant paid to Landlord an aggregate amount in excess of the additional
charges due for the preceding calendar year, and Tenant is not then in default under
this Lease, Landlord shall credit the amount of overpayment against subsequent
obligations of Tenant, or shall pay such excess to Tenant in cash if no further
payments are due from Tenant hereunder.

If the Lease Term begins on a day other than the first day of a calendar year, or if
the Lease Term terminated on a day other than the last day of a calendar year, the
amount shown as due by Tenant on the Statement of Actual Adjustment will reflect a
proration based on the proportion that the number of days this Lease was in effect
during such calendar year bears to three hundred sixty days (360).

REAL ESTATE TAXES

C. As used herein, the term “Taxes” shall mean all real property taxes, rental sate tax,
assessments, general or specific (whether commenced or completed during the Lease Term),
ad valorem or non ad valorem taxes specific or otherwise levied or imposed by any
governmental authority on the land, building or improvements of the Project, or the
furniture, fixtures or equipment used to operate the Project; and also any tax or excise
in addition thereto or in substitution thereof levied by any governmental authority or in
respect of, or by reason of, ownership or operation of the land, building or improvements
of the Project, and incurred by Landlord; and any water charges and sewer rents which may
be assessed, levied, confirmed or imposed on or in respect of the land, building or
improvements of the Project. Taxes, as the term is used in this Lease, shall not include
income, excess profits, franchise, capital stock, inheritance and transfer taxes and
license, inspection and permit fees except that taxes or governmental impositions later
imposed, including any taxes or governmental imposition on gross or net profits, income
or revenues of Landlord from the operation of the land, improvements or building of the
Project or from the Premises or this Lease, in substitution for or of a character
substantially similar to what are presently known as real estate taxes shall be included
in Taxes as defined herein. The real estate taxes in question are those assessed against
the Condominium Unit of which the premises are a part, as well as it proportionate share
of common area.

D. Landlord shall pay all Taxes levied against the Project. Notwithstanding the
foregoing, Tenant shall pay to Landlord as Additional Rent Tenant’s Proportionate Share
of Taxes payable by Landlord with respect to the project. Tenant’s Proportionate Share of
Taxes shall be determined by multiplying Taxes by Tenant’s proportionate Share (“Tenant’s
Proportionate Share of Taxes”).

E. Tenant’s estimated payments of Tenant’s Proportionate Share of Taxes shall be made
monthly at the time and in the manner provided in this Lease for the payment of Base
Monthly Rent. Landlord shall estimate and determine from time to time the amount of
Tenant’s payment of Tenant’s Proportionate Share of Taxes
so that, together with other
tenants’ estimated tax payments, Landlord will have sufficient funds available to pay all
Taxes at least ten (10) days before such payments would otherwise be due. Promptly after
Landlord’s receipt of bills for such Taxes, Landlord shall advise Tenant of the amounts
of such bills, the total of the Taxes, and Tenant’s Proportionate Share of such Taxes,
and shall provide to Tenant copies of all such bills for Taxes. The Tenant is paying real
estate taxes against its Condominium Unit (second and/or third floor as the taxing agency
may designate from time to time) based upon the proportion of rentable square footage
that the premises bear to the total second and/or third floor space (as the taxing agency
may designate from time to time). Any delay in notifications regarding herein shall not
waive Tenant’s obligations to pay any amounts due to Landlord. Landlord’s calculation of
taxes shall be based on the lowest discounted amount available.

If estimated payments made by Tenant for any Tax Year exceed the required payments as calculated by
Landlord for such Tax Year, or if

3

 

Landlord successfully contests the Taxes and receives a refund, Landlord shall pay such excess
portion of the refund in cash to Tenant if the Lease Term has ended and Tenant has no further
obligation to Landlord. If Landlord’s required payments for such Tax Year are greater than the
estimated payments made by Tenant for such Tax Year, Tenant shall pay such difference to Landlord
within thirty (30) days after being so advised.

5.
Additional Rent, Sales Tax

A. All taxes, charges, costs and expenses payable by Tenant hereunder, together with all
interests and penalties that may accrue thereon in the event Tenant fails to pay those items,
and all other damages, costs, expenses and sums that Landlord may suffer or incur, or that
may become due, by reason of any default of Tenant or failure by Tenant to comply with the
terms and conditions of this Lease shall be deemed to be additional rent, and shall be due
and payable consistent with the terms for payment of Base Rent. In the event of nonpayment,
Landlord shall have a Landlord’s lien herein provided for
failure to pay rent. Common area
charges, real estate taxes, and insurance are considered additional
rent. Tenant shall pay its
own tangible tax on personal property and leasehold improvements.

B. All State of Florida sales tax, tax on rentals and any other charge or tax imposed on the
privilege of renting which may be required by law shall be paid by the Tenant to the Landlord
on a monthly basis in addition to the monthly base rental payments. This amount shall not
include taxes based on Landlord’s net income. It is the
intention of the parties that the
monthly base rent referenced in Section 4 herein is net rental, and the Landlord shall
receive the same, free from all sales taxes, that are due from Tenant.

6. Security Deposit

     Tenant, concurrently with the execution of this Lease, has deposited with Landlord the sum of
Zero Dollars
and 00/100 ($00,000.00), the receipt of which is hereby acknowledged by Landlord, which sum shall
be retained by Landlord as security for the payment by Tenant of the rents and all other payments
herein agreed to be paid by Tenant and for the faithful performance by Tenant of the terms,
provisions, covenants and conditions of this Lease. It is agreed that Landlord, at its option, may
at the time of any default by Tenant under any terms, provisions, covenant or conditions of this
Lease apply the Security Deposit or any part thereof towards the payment of rent and all other
sums payable by Tenant under this Lease and towards the performance of each and every one of the
Tenant’s covenants under this Lease. For all sums of the Security Deposit which are not utilized by
Landlord for the purposes set forth in this Section, Landlord shall return such balance of the
Security Deposit to tenant within thirty (30) days of the expiration of this Lease Term. Landlord
has no obligation to pay Tenant any interest on the Security Deposit. The Tenant is required to
replenish the security deposit in the event that the Landlord must utilize any parts of the
security deposit to cure defaults of the Tenant

7. Adjustment to Base Rent The base rent shall be increased by 3% each year during any
option terms of the Lease.

     Paragraphs A-D do not apply

A. Commencing on the first anniversary of this Lease and annually thereafter including any
option periods, the annual Base Rent shall be adjusted in accordance with fluctuations of
the Consumer Price Index which is published by the Bureau of Labor Statistics of the United
States Department of Labor. The Index which applies to the “All Item” category for the U.S.
City Average for Urban Wage Owners, Earners and Clerical Workers (the “CPI”) shall be used.
The annual Base Rent shall be adjusted as follows:

1. The Annualized CPI for the month which is three months preceding the
anniversary month of the commencement of this Lease shall be designated the
Comparison Index; and = Adjusted Annual Increase

2. The calculation of the adjusted annual Base Rent
shall be as follows:

Annual Base x Comparison Index = Adjusted Annual
Increase

B. Landlord shall notify Tenant of the adjustment to the Base Rent which is payable in
accordance with this Section. Tenant shall pay such adjusted Base
Rent, together with all
other rentals, taxes and costs payable hereunder on the first day of each and every month
thereafter.

C. Application of the adjustment to Bate Rent according to fluctuations in the CPI shall
never operate to reduce the rent payable hereunder. The CPI increase
shall not be less than
three percent (3%) in any one year.

D. Should the CPI cease to be published or be adjusted to any unit of measure by the
government, Landlord shall substitute a similar index which is intended to indicate
fluctuations in the purchasing power of a United States dollar and which is published by the
United States Department of Labor and other similar index.

4

 

E.
Should Landlord delay in notification of a rental adjustment, said adjustment shall
be retroactive to the date such adjustment should have occurred hereunder.

8. Improvements and Alterations; Signage

A. Landlord shall deliver the Premises to Tenant in “as is” condition.

B. Landlord shall provide $7,500.* as a build-out allowance for the Tenant’s
improvement of its premises. If the cost to improve Tenants premises exceeds the
allowance, the Tenant shall pay any excess costs directly to the general contractor for
building out Tenant’s premises. The build-out of the premises shall be based on the
detailed working drawings approved by Landlord and Tenant. *A not to exceed cost, pays
only actual paint and carpet expense, to be deducted from Base Rent.

C.
Tenant shall make any additional alterations, additions and improvements to the space
which are in accordance with detailed working drawings and specifications describing such
work which have been submitted in advance to Landlord, only when
approved in such drawings and specifications to Tenant in writing within fifteen (15)
days after their receipt by Landlord (the “improvements”). The alterations, additions and
improvements attached or made to the Premises prior to the commencement of the term of the
Lease or during the term of this Lease may not be removed without physical damage to the
Premises and shall become and be Landlord’s property and, unless Landlord otherwise elects,
shall be and remain part of the Premises as or the expiration to earlier termination of the
Term.

D. Construction of any Improvements may be made only by a licensed, bonded and insured
contractor who has been approved, in writing, by Landlord which approval shall not be
unreasonably withheld. Tenant agrees that construction of the
Improvements shall be performed diligently and in a
good and workmanlike manner and shall be expeditiously completed in compliance with all
applicable laws, ordinances, orders, rules, regulations and requirements. All work done in
connection with the Improvements shall comply with all requirements of insurance policies
maintained by Landlord, copies of which policies shall be available for inspection by Tenant.

E. In order to comply with the provisions of Section 713.10, Florida Statutes, it is
specifically provided that neither Tenant nor anyone claiming by, through or under Tenant,
including, but not limited to, contractors, subcontractors,
materialmen, mechanics’ or
materialmen’s liens of any kind whatsoever upon the Demised Premises or improvements thereon,
any such liens are hereby specifically prohibited. All parties with whom Tenant may deal are
put on notice that Tenant has no power to subject Landlord’s interest to any mechanic’s or
materialmen’s lien of any kind or character, and all such, persons so dealing with Tenant
must look solely to the credit of Tenant, and not to Landlord’s interest or assets.

F. Tenant shall maintain the Improvements in a first class manner during the term of the
Lease and shall be responsible for any and all damage to the Premises, the Building Areas,
the fixtures, appurtenances and equipment of Landlord, or the Building caused by the
installation, or removal of the Improvements or Tenant’s
Property as defined in Section 9
below. All provisions of this Section are applicable to any modifications or additions
thereto.

G. Tenant shall not have the right to construct, erect, place, put, paint, maintain or
control on the demised premises any exterior sign or signs, without first obtaining the
written consent and approval of the same from the Landlord, and on obtaining such sign or
signs must comply with all rules, regulations, laws, statutes and ordinances and/or
applicable governmental authorities, and must be erected and maintained so as to not cause
damage to the building which is situated on the demised premises. Tenant agrees to install
all signs in conformance with applicable government regulations and to keep the same in a
good state of repair and save Landlord harmless from any damages. Upper floor locations may
be allowed to post signage on the monument sign at Tenants sole cost and expense, after
receiving written approval from Landlord.

9. Property of Tenant

     Subject to the provisions of this section, Tenant may place office fixtures, furnishings,
furniture and equipment (“Tenant’s Property”) in the Premises. Tenant shall not place a load upon
any floor of the Premises exceeding 50 pounds per square foot unless Landlord authorizes reasonable
amounts exceeding this capacity in writing. Business machines and mechanical equipment and Tenant’s
other personal property shall be placed and maintained by Tenant, at its expense, in settings
sufficient to absorb and prevent vibration, noise and annoyance. Tenant

5

 

covenants
and agrees that all Tenant’s Property of every kind, nature and description which may be
in or upon the premises or Building, or in the Building Areas during
the term hereof, shall be at
the sole risk of Tenant. Tenant hereby indemnifies Landlord and holds it harmless from and against
any liability, loss, injury, claims or suit resulting directly or indirectly therefrom except as
may be caused by Landlord’s gross negligence or willful misconduct.

10. Maintenance and Repair of the Premises

     Tenant shall, at its sole cost and expense, maintain the interior of the Premises
in good order, condition and repair, and shall make all changes and repairs required
to keep the interior of the Premises in good repair, including, without limitation,
repairs to doors, locks, hardware, carpet, walls, ceilings, electrical fixtures,
interior and plate glass, equipment and HVAC systems in the Premises.* Tenant shall be
responsible for the repair and replacement of all glass and/or windows in the demised
premises. Structural repairs and common area maintenance shall be and remain the
obligation of the Landlord. Tenant shall maintain all areas of the Premises in a clean
and sanitary condition free of all vermin. *Landlord shall be responsible for the
costs in excess of ($1,000.) One Thousand Dollars for any single repair to the HVAC
system. This is per occurence. Tenant agrees at its sole cost and expense to keep
standard maintenance contracts in force on all HVAC equipment.

11. Services

A. Tenant shall pay, when due, all charges imposed by public or private utility companies for
telephone, electric, water and other utility service supplied to the Premises.

If Landlord elects or is required to supply any utility services to the Premises,
Tenant agrees to purchase from and pay Landlord for such utilities as Additional Rent
at the applicable rates which the utility company would have charged Tenant for
furnishing such utilities. Tenant shall only be charged on a pro-rata basis.

B. No electric current shall be used except that furnished or approved by Landlord, nor shall
electric cable or wire be brought into the Premises except upon the written consent and
approval by Landlord. Landlord estimates that 100 to 140 amps of electrical service will be
available to the Premises. Tenant shall use only office machines and equipment that operate
on the Building’s standard electric circuits but which in no event shall overload the
Building’s standard electric circuits from which Tenant obtains electric current. Any
consumption of electric current in excess of that or which requires special circuits or
equipment, the installation of which shall be at Tenant’s expense after approval in writing by
Landlord, shall be paid for by Tenant as additional rent and shall be in an amount determined
by Landlord, based upon Landlord’s estimated cost of such excess electric current consumption
or based upon the actual cost thereof, if such excess electric current consumption is
separately metered. Landlord shall maintain the building in a manner consistent with other
buildings similar in nature and character in downtown Sarasota, Florida.

12. Inspection and Landlord Reservation of Rights

A. Landlord shall have the right upon twenty four (24) hours notice, and when accompanied by
a representative of Tenant, to enter the Premises to inspect the same, to exhibit the
Premises to prospective tenants or others, and to introduce conduits and pipes or ducts, or
conduct repairs to the Premises not completed, or otherwise property undertaken by Tenant, as
may be necessary. Any such entry shall not be deemed an eviction or disturbance of Tenant’s
use or possession. Landlord shall immediately repair any damage to the Premises occasioned by
the exercise of its rights hereunder. If Tenant is not available to receive notice of entry,
Landlord may enter at will.

B. Tenant agrees to permit Landlord and Landlord’s agents, ninety (90) days prior to the
expiration of the term hereby granted, to place in one or more conspicuous places upon the
interior or exterior of the Premises, signs advertising the Premises “For Sale” and “To Let”,
and to otherwise prepare the property for subsequent occupancy.

13. Casualty

A.
If the Premises or any part thereof are damaged by fire or other casualty, Tenant shall
give immediate notice to Landlord. Landlord shall have the right to cause such damage to be
repaired within thirty (30) days from the casualty. If the Premises are not rendered
tenantable within said thirty (30) day period, either party shall have the option to cancel
this Lease. Upon such election to cancel rent shall be payable only to the date of the
casualty. All repairs to and replacements of Tenant’s Property and Improvements shall be made
by, and at the expense of Tenant. To the extent that the Premises have been rendered unfit for
use and occupation hereunder by reason

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of such damage, a portion of the Base Rent as adjusted in accordance with Section 4
hereof shall be abated until the Premises shall have been restored. Landlord shall not be
liable for delays in the making of any repairs to the Premises which are due to
governmental regulations, casualties and strikes, unavailability of labor and materials,
and other causes beyond the control of Landlord, nor shall Landlord be liable for any
inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from
delays in repairing such damage to the Premises; provided, however, that during any such
period of delay, Base Rent as adjusted in accordance with 4 hereof shall be equitably
abated.

B. If the Building or any part thereof is so damaged by such fire or other casualty that
substantial alteration or reconstruction of the Building shall be required, then this Lease
may be terminated at the election of either party by giving a written notice of termination
to the other party within one hundred eighty (180) days following such fire, or other
casualty. In the event of any such termination, this Lease shall expire as of such
effective termination date and Base Rent, as adjusted in accordance
with Section 8 hereof,
shall be apportioned and terminate as of the date of the casualty.

14. Condemnation

A. If there is taken by a condemnation proceeding or sought to be taken by a governmental
authority under threat of condemnation any part of the Premises, the Drive-In Facilities or
the Building, excluding any part not interfering with maintenance, operation or use of the
Premises, Landlord may elect to terminate this Lease or to continue same in effect. If
Landlord elects to continue the Lease, the Base Rent, as adjusted in accordance with Section
7 hereof shall be abated in proportion to the area of the Premises so taken and Landlord
shall repair any damage to the Premises or Building resulting from such taking. If any part
of the Premises is taken by condemnation, Tenant may elect to terminate this Lease or to
continue same in effect. If Tenant elects to continue this Lease, the Base Rent, as adjusted
in accordance with Section 7 hereof, shall be abated in
proportion to the area of the
Premises so taken and Landlord shall repair any damage to the Premises resulting from such
taking. If all of the Premises is taken by condemnation, this Lease shall terminate on the
date of taking. All sums awarded or agreed upon between Landlord and the condemning
authority for the taking of the Premises, or the total or partial taking, will be property
of Landlord. If this Lease is terminated under the provisions of this Section, tenant shall
pay Landlord all sums, owing hereunder up to the date possession is taken by the condemning
authority. Tenant’s right to abatement of rent or cancellation of this Lease shall be
Tenant’s sole remedy in the event of condemnation except that Tenant may maintain any action
for recovery of the loss of its Improvements.

B.
If Landlord or Tenant does not elect to terminate this Lease, Landlord shall, with
reasonable diligence, restore the remainder of the Premises, or the remainder of the means
of access to the Premises so as to provide that they shall be reasonably usable for Tenant’s
purposes, or so as to restore reasonable access. Landlord shall not be liable for any delays
in such restoration which are due to governmental regulations, casualties, strikes,
unavailability of labor or materials, or other causes beyond Landlord’s control. Nor shall
Landlord be liable for any inconvenience or annoyance to Tenant or injury to business of
Tenant resulting from delays in such restoration; provided, however,
that during any such
period of delay, Base Rent as adjusted in accordance with Section 7 hereof, shall equitably
be abated.

C. Landlord shall have no responsibility to restore or to compensate Tenant for any taking
by condemnation, as that term used in this Section, of the Premises, or the Improvements or
of Tenant’s Property.

15. Injury and Damage

     Landlord shall not be liable for any injury or damage to persons, tangible personal property,
or to the operation of Tenant’s business resulting from fire, explosion, falling plaster, broken
glass, steam, gas, electricity, electrical disturbance, water, rain or leaks from any part of the
Building or from pipes, appliances or plumbing works or from the roof, street, or subsurface or
from any other place or any dampness or by any other cause of whatever nature, unless caused by or
due to the act, omission, fault, gross negligence or willful misconduct of Landlord, or its
agents, servants or employees; nor shall Landlord or its agents be liable for any such damage
caused by either tenants or persons in the Building or caused by construction operations of any
private, public or quasi-public person; nor shall Landlord be liable
for any latent defect in the
Premises or in the Building.

16. Indemnification

     Tenant and Landlord hereby indemnifies and covenants to save each other harmless from and
against any and all claims, liabilities or penalties asserted by or on behalf of any person, firm,
corporation or public authority:

A. On account of or based upon any injury to person, or loss of or damage to a tangible
personal property, sustained or occurring on

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the Premises on account of or based upon the
act, omission, fault, negligence or misconduct or any person other than Landlord and Tenant
and or their servants, agents or employees; and

B. On account of or based upon any injury to person, or loss of or damage to tangible
personal property, sustained or occurring in or about the Premises and on or about the Common
Areas, sidewalks, approaches, roof or other appurtenances and facilities used in connection
with the Building or the Premises arising out of the use or occupancy of the Building or the
Premises by Tenant and Landlord or by any person claiming by, through or under Tenant or
Landlord, and caused by the act, omission, fault, negligence or misconduct of any person other
than Landlord and Tenant or its servants, agents or employees; and

C.
On account of or based upon any work or thing whatsoever done by
Tenant and/or Landlord on the Premises during the term of this Lease and during the period
of time, if any, prior to the Commencement Date when Tenant may have been given access to the
Premises; and, in respect of any of the foregoing, from and against all costs, expenses,
reasonable attorney’s fees, and liabilities incurred in or in connection with any such claim,
or any action or proceeding brought thereon. If any action or
proceeding be brought against Landlord or Tenant
by reason of any such claim, Tenant and Landlord shall, at their own expense, defend such
claim, action or proceedings if so required.

17. Insurance

     Tenant shall maintain public liability insurance in an amount not less than $2,000,000 per
occurrence, and property damage liability insurance in an amount not less than $1,000,000 per
occurrence, and shall submit and maintain copies of such policies
with Landlord. The insurers
under such policies shall be reasonably satisfactory to Landlord and
such policies shall name Landlord, Landlord's managing agent and Tenant as insured parties, as their
interests may appear, and shall provide twenty (20) days prior written notice to Landlord of lapse
or cancellation.

18. Assignment, Mortgaging, and Subletting

A. Tenant may not assign, transfer, sublet, mortgage, pledge or otherwise encumber this Lease
or the Premises or any part thereof without prior written consent of
owner which consent should be
unreasonably withheld. Any assignment of this Lease shall be upon the express condition that
the assignee and Tenant shall promptly execute acknowledge and deliver to Landlord an
agreement in form and substance satisfactory to Landlord whereby the assignee agrees to be
personally bound by the terms, covenants and conditions of this Lease and shall contain the
agreement of the subtenant thereunder that, upon default of this Lease and upon Landlord’s
written request, it will pay all rents under the sublease directly to Landlord. Tenant cannot
assign nor sublet for rent higher than rent stated in Lease.

B. Tenant agrees to pay the reasonable costs and attorneys fees of Landlord not to
exceed Five Hundred Dollars ($500.00) in
connection with Tenants request for Landlord’s approval of any assignment, sublease other
transfer.

C. If this Lease is assigned or if the Premises or any part thereof is sublet or
occupied by anyone other than Tenant, Landlord, after default by Tenant hereunder, may
collect the rents from such assignee, subtenant or occupant, as the case may be, and
apply the net amount collected to the rental herein reserved. No such assignment,
occupancy or collection shall be deemed a waiver of the requirement set forth in this
Section or be deemed the acceptance by Landlord of such assignee or occupant as Tenant
or be deemed a release of Tenant from the future performance by Tenant of its
obligations contained in this Lease. The consent by Landlord to an assignment of the
lease shall not in any way be construed to relieve Tenant from obtaining the express
consent in writing of Landlord to any further assignment. No assignment, subletting or
use of the Premises shall affect the purpose for which the Premises may be used.

19. Default

A. If Tenants defaults in the payment of the Base Rent, or any other sums due hereunder and
such default continues for seven (7) days after the date such sums are payable hereunder, or
if Tenant defaults in the performance of any other of its obligations
or otherwise breaches or fails to
perform any other provision of this Lease and such default continues for ten (10) days after
written notice thereof by Landlord to Tenant unless Tenant diligently commences to cure said
default, or if Tenant files a petition under any bankruptcy insolvency law or code, or if
Tenant is adjudicated bankrupt or insolvent according to law, or if Tenant makes any
assignment for the benefit of creditors, or if Tenant files any petition seeking a
reorganization, arrangement or similar relief, or if a receiver, custodian, trustee or similar
agent of the Premises or of all or a substantial part of Tenant’s property it appointed, or if
the operation of Tenant’s

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business
is assumed by a bank regulatory agency, or if Tenant’s interest
in this Lease is taken upon execution or other process of law in any action against Tenant, or if Tenant
abandons the Premises, then Landlord may lawfully terminate this Lease by written notice to
Tenant and, expel Tenant and those claiming by, through, or under Tenant, and remove their
effects, if necessary, without being deemed guilty of any manner of trespass and without
prejudice to any as aforesaid, this Lease shall terminate. Tenant
covenants, in case of any default by Tenant hereunder, to pay Landlord all costs of enforcing Landlord’s rights under
this Lease, including, without limitation, reasonable attorney’s fees and expenses, loss of
rent, reletting expenses, and brokerage fees, together with the agreed liquidated damages
described in this Section. Landlord and Tenant agree that Landlord shall suffer damages
from Tenant’s breach of this Lease and Landlord’s necessity to recover possession of the
Premises and that such damages are difficult or impossible to ascertain. For this reason,
Landlord and Tenant agree that Tenant shall pay Landlord as liquidated damages for Tenant’s breach of this Lease which remains uncured an amount equal to the total Base Rent
over the term of this Lease and other sums which would have been payable had the Lease not
so terminated, as offset by net rents actually received by Landlord from reletting, after
deducting the expenses of reletting.

B. Landlord may bring legal proceedings for the recovery of such damages.
Nothing contained herein shall be deemed to require Landlord to postpone
suit until the date when this Lease would have expired if it had not been
terminated.

C. Nothing herein contained shall be construed as limiting or precluding the recovery by
Landlord from Tenant of any sums or damages including, without limitation, reasonable
attorney’s fees and expenses, to which, in addition to the damages particularly provided
above, Landlord may lawfully be entitled by reason of any default hereunder on the part of
Tenant.

D. Tenant agrees that its failure timely to cure an event of default in accordance with this
provision of Subsection A. of this Section shall entitle Landlord to declare the balance of the Base Rent for the
entire term of this lease to be immediately due and payable. Upon such declaration, Landlord
shall be entitled to proceed to collect all unpaid Base Rent by Distress or other Procedure.

E. In addition to any late charges, Tenant shall pay Landlord interest on any rental due that
remains unpaid seven (7) days after its due date. Such interest will be computed at the rate
of eighteen percent (18%) per year.

20. Landlord’s Right to Cure

     If Tenant defaults in the performance of any term, covenant or condition on its part to be
performed under this Lease, Landlord, without being under any obligation to do so without thereby
waiving such default, may remedy such default for the account and at the expense of Tenant,
immediately and without notice in case of emergency, or in any other case, if Tenant fails to
remedy such default with reasonable diligence within the time set forth under Section 20 and after
Landlord has notified Tenant of such default. If Landlord makes any expenditures or incurs any
obligations for the payment of money in connection therewith, including but not limited to,
reasonable attorney’s fees, such sums paid or obligations incurred shall be paid to Landlord by
Tenant as additional rent hereunder.

21. Subordination

A. This Lease is subject and subordinate in all aspects to any mortgage which may now or at
any time hereafter be placed on or affect this Lease, the Building Areas, the Links Office
Condominium or Landlord’s interest or estate therein, and to each advance make or hereafter
to be made under any such mortgages, and to all renewals, modifications, consolidations,
replacements and extensions thereof and all substitutions therefore and to such mortgagee’s
exercise of all other rights regarding the Building and the Building Areas. This Section
shall be self operative and no further instrument or subordination shall be required. In
confirmation of such subordination, Tenant shall execute and deliver, within seven (7) days
of receipt, any certificate acknowledging or confirming such subordination that Landlord or
any mortgagee or their respective successors in interest may request from time to time.

B, If the Building is, at any time, subject to a mortgage, and if Tenant has received written
notice, any mortgagee shall have the right, but not the obligation, to cure any default on
the part of the Landlord of its obligations under this Lease. Tenant shall accept any cure
offered by any such mortgagee as if it were made by Landlord.

22. Surrender of Possession: holdover

     At the expiration or earlier termination of this Lease, Tenant will remove Tenant’s Property
and will peaceably yield up to Landlord the Premises, together with the Improvements made and
designated to remain in the Premises, in the same condition as they were on the

9

 

Commencement Date, except for reasonable wear and tear.

Any holdover by Tenant without a written agreement to extend its occupancy beyond the expiration
date outlined in paragraph 3 of this Lease Agreement, shall cause the rent due, as outlined in
paragraph 4 of this lease agreement, to be increased (11/2) one and one half times.

23. Notices

     Any notice or demand by Tenant to Landlord shall be served by registered or certified mail
addressed to Landlord at Landlord’s address above indicated or at such other address indicated to
Tenant in writing. Any notice or demand by Landlord to Tenant shall be served by registered or
certified mail addressed to Tenant. Notice shall be deemed effective
upon receipt.

24. Rules and Regulations and Governmental Regulations

     Tenant
will faithfully observe and comply with the Rules and Regulations of
the Building, together with all regulations imposed, from time to time, by local and state governmental entities
which regulate the Building. Tenant acknowledges that the building is designated a “non-smoking
building” and therefore shall not smoke cigarettes, cigars or pipes in the building or in the
Premises, nor allow his employees, agents, representatives or
clients/customers to smoke in the
building. Tenant shall also comply with the Declaration of Condominium.

25. Quiet Enjoyment

     The Tenant, on paying the Base Rent, as adjusted in accordance with Section 4 hereof, and other
sums payable hereunder and performing the covenants of this Lease on its part to be performed, shall
and may peaceably and quietly have, hold and enjoy the Premises for the term of this Lease.

26. Limitation of Landlord’s Liability

     The
term “Landlord” as used in this Lease so far as obligations
to be performed by Landlord are
concerned is limited to mean and include only the owner or owners of the Building at the time in
question. In the event of any transfer or transfers of title to the Building occur, the Landlord
herein named and, in case of any subsequent transfers or conveyances, the then grantor shall be
automatically relieved from and after the date of such transfer or conveyance on the part of the
Landlord contained in this Lease on the Part of Landlord assigns, only during and in respect of the respective successive
periods of ownership of the Building. This paragraph does not release Landlord from liability for
matters, acts, occurrence or obligations, arising before such conveyance and transfer.

27. Binding Agreement

     This Lease shall bind and inure to the
benefit of the parties hereto and their respective
heirs, representatives, successors or assigns.
This Lease contain the entire agreement of the
parties no verbal commitments have been made or
are binding and this Lease may not be modified
except by an instrument in writing.

A. The various rights and remedies contained in this Lease and reserved to
Landlord shall not be exclusive of any other right or remedy of such party, but shall
be constructed as cumulative and shall be in addition to every other remedy now or
hereafter existing at law, in equity or by statute. No delay or omission of the right
to exercise any power by Landlord shall impair any such right or power, or shall be
construed as a waiver of any default or as acquiescence in any default. One or more
waivers of any covenant, term or condition of this Lease by either party shall not be
construed by Landlord as a waiver of a subsequent breach of the same covenants, terms,
or conditions. The consent or approval of Landlord to or of any act by Tenant of a
nature requiring consent or approval shall not be deemed to waive or render
unnecessary consent to or approval of any subsequent similar act.

B. Payments to Landlord under this Lease are rental for the use of the Premises
and nothing herein contained shall be deemed or construed to make Landlord a partner or
associate of Tenant in the conduct of any business, or rendering Landlord liable for
any debts, liabilities or obligations incurred by Tenant in the conduct of any
business, it being expressly agreed that the relationship between the

10

 

parties is, and shall at times, remain that of Landlord and Tenant.

C. Where the words “Landlord” and ‘Tenant” are used in this Lease, they shall include
Landlord and Tenant and shall apply to persons, both men and women, associations,
partnerships and corporations, and in reading this Lease the necessary grammatical changes
required to make in the same manner as if written in the Lease.

D. Tenant hereby declares that in entering into this Lease, Tenant relied solely upon the
statements contained in this Lease and fully understands that no agents or representatives
of Landlord have authority to in any manner change, add to, or detract from the terms of
this Lease.

E. The invalidity of one or more of the provisions of this Lease shall not affect the
remaining portions of this Lease and if any one or more of the provisions of this Lease
should be declared invalid by final order, decree or judgment of a court of competent
jurisdiction, this Lease shall be construed as if such invalid provisions had not been
included in this Lease.

F. If Tenant shall be two or more persons or entities, each such person or entity shall be
jointly and severally liable for the payment of all sums due to Landlord from Tenant under
this Lease and the performance of all of Tenant’s covenants, agreements obligations under
this Lease.

G. On request from Landlord, Tenant shall promptly execute and deliver an
estoppel statement setting forth: The term of the Lease; the rental and all
other sums payable hereunder; and whether Tenant claims any offsets under
the Lease.

H. The captions contained herein are for the convenience of the parties and do not limit or
modify the provisions of this Lease.

28. Control of Common Areas and Parking Facilities by Landlord

     All automobile parking areas, driveways, entrances and exits thereto, common areas, the Building
Areas, and other facilities furnished by Landlord, including all parking areas, truck way or ways,
loading areas, pedestrian walkways and ramps, landscaping areas, stairways, corridors, common areas
and other areas, and improvements provided by Landlord for the general use, in common, of Tenants,
their officers, agents, employees, servants, shall be at all times subject to the exclusive control
and management of Landlord and the other owners of Links Office Condominium acting through the
Links Office Condominium Association (hereinafter “the Association”) and pursuant to the
Declaration of the Links Office Condominium and any rules and regulations thereto. Landlord and the
Association shall have the right, from time to time to: Establish, modify and enforce reasonable
rules and regulations with respect to all facilities and areas and improvements; to police same; to
change the area, level and location and arrangement of parking areas and other facilities herein
above referred to; to restrict parking by and enforce parking charges to tenants, their officers,
agents, invitees, employees, servants, licensees, visitors, patrons,
and customers; to close all or
any portion of said areas or facilities to such extent as may, in the
option of Landlord’s and/or
the Association’s counsel, be legally sufficient to prevent a dedication thereof or the accrual of
any rights to any person or the public therein; to close temporarily all or any portion of the
public areas, common areas or facilities; to discourage no-lessee parking; and to do and perform
such other acts in and to said areas and improvements as, in the sole
judgment of Landlord and/or the Association, are advisable with a
view to the improvement of the convenience and use thereof by
tenants, their officers, agents, employees, servants, invitees,
visitors, patrons, licensees and customers.  Landlord will operate
and maintain the Common
Areas, the Building Areas, and other facilities referred to in such manner as Landlord shall
determine from time to time, in it’s sole discretion.  Without
limiting the scope of such discretion, Landlord shall have the full
right and authority to designate a manager for the parking facilities, Building Areas, Common Areas and other
facilities who shall have full authority to make Landlord enforce rules and regulations regarding
the use of the same or to employ all personnel to and necessary for the proper operation and
maintenance of the parking areas, Building Areas and Common Areas and other facilities.

29. Prior Occupancy

     If Tenant, with Landlord’s consent, occupies the Premises prior to the beginning of the term of
this Lease specified in Section 3 hereof, all provisions of this Lease shall be in full force and
effect commencing upon such occupancy, and the rental commencement date shall be adjusted to
reflect the earlier occupancy date.

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30. Short Form Lease

     Tenant shall, if so requested by Landlord at any time, execute a short form Lease in
recordable form setting forth the name of the parties, the term of the Lease, and the description
of the Premises.

31. Payment of Rental

     Tenant shall pay all Rental when due and payable, without any set off, deduction or prior demand
therefore whatsoever. If Tenant shall fail to pay any Rental within seven (7) days after the same
is due, Tenant shall be obligated to pay a late payment charge equal to the greater of One
Hundred Dollars ($100.00) or ten percent (10%) of any Rental payment not paid when due to
reimburse Landlord for its additional administrative costs. In
addition, any Rental which is not
paid within seven (7) days after the same is due shall bear interest at the Default Rate from the
first day due until paid. Any additional Rental which shall become
due shall be payable, unless otherwise provided herein, with the next installment of Annual Basic Rental. Rental and statements required of Tenant shall
be paid and delivered to Landlord at the management office of Landlord at 1345 Main St. Suite
C-2, Sarasota, FL 34236 between the hours of 9:00 a.m. and 5:00 p.m. Monday through Friday or at
such other place as Landlord may, from time to time, designate in a notice to Tenant. Any payment
by Tenant or acceptance by Landlord of a lesser amount than shall be due from Tenant to Landlord
shall be treated as a payment on account. The acceptance by Landlord of a check for a lesser
amount with an endorsement or statement thereon, or upon any letter accompanying such check, that
such lesser amount is payment in full shall be given no effect, and Landlord may accept such
check without prejudice to any other rights or remedies which Landlord may have against Tenant.

32. Disclosure of Representation

     Corporate
Property Resources, Inc., is giving notice to First State Bank, that Corporate
Property Resources, Inc., is the agent and representative of Links Associates, Ltd., a Florida
Limited Partnership, and is the sole real estate broker in this transaction and will be
compensated by the Landlord.

     The
Tenant acknowledges that this written notice was received before the undersigned signed a
contractual offer or Lease Agreement, in compliance with the 475.25 (1) (q), Florida statutes,
and Rule 21V-10.033, Florida Administrative Code.

33. Radon Gas — Notice to Prospective Tenant

     Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in
sufficient quantities, may present health risks to person who are exposed to it over time. Levels
of radon that exceed federal and state guidelines have been found in buildings in Florida.
Additional information regarding radon and radon testing may be obtained from your county public
health unit. Pursuant to S404.056 (8), Florida Statutes.

34. Hazardous Waste

     Tenant
agrees that the Premises shall not be used for the discharge or storage of any Hazardous
Substance as defined in any federal, state or local statute, rule, regulations or ordinance.
Tenant agrees to indemnify Landlord and hold Landlord harmless from and against any and all
losses, liabilities, including strict liability, damages, injuries, expenses, including
reasonable attorney’s fees, paralegal fees and legal assistants’ fees, costs
of any settlement or judgement in claims of any and every kind, whatsoever paid, incurred or
suffered by, or served against Landlord by any person or entity or governmental agency for, with
respect to, or as a direct or indirect result of, the presence on or
under, or the escape,
seepage, leakage, spillage, discharge, emission or release from the Premises, in connection with
Tenant’s operations thereon, of any Hazardous Substance, including any such loss or liability
arising under the Comprehensive Environmental Response, Compensation and Liability Act, and any
similar federal, state or local laws or ordinances. If Tenant receives any notice of: (i) the
happening of any material event involving the escape, seepage leakage, spillage, discharge,
emission, release or clean up of any Hazardous Substance on the Premises in connection with
Tenant’s operations thereon, or (ii) any complaint, order, citation, or material notice with
regard to air emission, water discharge or any other environmental health or safety matter
affecting Tenant (an “environmental complaint”) from any person or entity, Tenant shall
immediately notify Landlord orally and in writing of said notice. Any breach of any warranty or
representation contained in this paragraph shall be an event of default under the Lease, which,
if not cured within thirty (30) days of notice thereof, shall entitle Landlord to exercise any
and all remedies provided in the Lease or otherwise provided by law;
provided, however, Landlord
agrees that if the remedy or such default cannot be reasonably achieved within said thirty (30)
day period, then Tenant shall have such further time as is reasonable under the circumstances to
effect such remedy provided that Tenant shall notify Landlord within the thirty (30) day curative
period of the necessity for additional time and provides

12

 

further that Tenant shall institute
immediate steps to effect such remedy and shall continuously and diligently pursue such remedy to
completion

35. Landlord Reservation

Landlord hereby reserves the right at any time, and from time to time, to add other uses to the
Project, to expand the Project to other lands; to make alterations or additions to, the buildings
of the Project, to build adjoining the same an to install, maintain, use, repair and replace
pipes, ducts, conduits and wire throughout the Premises which will not materially interfere with
Tenant’s Permitted Use of the Premises. Landlord also reserves
the right to construct other improvements on the Project from time to
time, to make alterations or additions to such property.  Landlord
also reserves the right from time to time to
change, modify, rearrange or alter the Common Areas; provided that such actions by Landlord shall
not unreasonably interfere with Tenant’s use and enjoyment of the Premises. Any capital expenses
to the project shall not be passed on to the Tenant in the form of common area expense, unless the
expense is for the common area. If the expense is capital in nature, it must be amortized over a
five (5) year period.

36. Option to Renew

     Provided
it is not in default of its obligations under this Lease and has not assigned or
sublet the Premises, Tenant shall have Two five(5) year options to renew the Lease. The base rent,
as that term is defined in Section 4 hereof, shall continue to be payable in equal monthly
installments in advance and shall include Tenant’s prorata share of common area expenses, as
described elsewhere in this Lease and rent during all years of the renewal terms shall be subject
to increase, as elsewhere provided in the Lease. (3% annually)

     Tenant, in order to exercise the renewal option, must give Landlord written notice of
Tenant’s exercise of the option to renew, which notice shall be given not less than 180 days
prior to the end of the initial term of the Lease.

IN WITNESS
WHEREOF, the parties hereto have executed this Lease in duplicate,
the original as sealed
instrument on the day and year first above written.

	 	 	 	 	 	 	 
	WITNESSES:	 	 
	 
	 	 	 	 	 	 
	 	 	LINKS ASSOCIATES , LTD.,
	 	 	A FLORIDA LIMITED PARTNERSHIP
	 	 	“LANDLORD”
	[ILLEGIBLE]
	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	[ILLEGIBLE]	 	By:	 	[ILLEGIBLE]
	 	 	 	 	 
	 	 	Print Name:	 	 [ILLEGIBLE]
	 	 	 	 	 
	 	 	Print Title:	 	[ILLEGIBLE]
	 	 	 	 	 
	 
	 	 	 	 	 	 
	WITNESSES:
	 	 	 	 	 	 
	 	 	First State Bank
	 
	 	 	 	 	 	 
	[ILLEGIBLE]	 	By:	 	/s/ COREY J. COUGHLIN
	 	 	 	 	 
	 
	 	 	 	 	 	 
	[ILLEGIBLE]	 	Print name and title	Corey J. Coughlin, Pres-CEO
	 

	 	 	 	 	 	 

13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]