Document:

Exhibit

10.29

 

FIRST

AMENDMENT TO LEASE

 

(Building

4 and 5 - 1700 and 1800 Seaport Boulevard)

 

(LEASE

TERMINATION AND

MUTUAL

GENERAL RELEASE AGREEMENT)

 

This First

Amendment to Lease (Lease Termination and Mutual General Release Agreement) (“Agreement”)

is dated for reference purposes, entered into and made effective as of May 9,

2002 at San Francisco, California, by and between PACIFIC SHORES DEVELOPMENT, LLC,

a Delaware limited liability company (“Lessor”) and BROADVISION, INC., a Delaware

corporation (“Lessee”).

 

R

E C I T A L S

 

A.  Lessor and Lessee entered into that certain

written Lease dated April 12, 2000 (“B-4 Lease”), with respect to certain

premises identified therein and commonly known as Building 4, Pacific Shores

Center, 1800 Seaport Boulevard, Redwood City, California  94060 (“B-4  Premises”).

 

B.  Lessor and Lessee entered into that certain

written Lease dated February 15, 2000 (“B-5 Lease”), with respect to certain

premises identified therein and commonly known as Building 5, Pacific Shores Center,

1700 Seaport Boulevard, Redwood City, California  94060 (“B-5  Premises”).

 

C.  Lessor and Lessee entered into that certain

written Lease dated February 15, 2000 (“B-6 Lease”), with respect to certain

premises identified therein and commonly known as Building 6, Pacific Shores

Center, 1600 Seaport Boulevard, Redwood City, California  94060 (“B-6  Premises”).

 

D.  Lessee is actively engaged in seeking

subtenants who would be acceptable to Lessor as direct tenants upon any

termination of the B-4 and B-5 Leases.

 

E.  Lessor and Lessee now desire to amend the

B-4 and B-5 Leases and to terminate both Leases effective as of May 14, 2002

(the “Termination

Date”),

so that all matters arising out of the B-4 and B-5 Leases are fully and finally

resolved on the terms and conditions set forth herein.

 

 

AGREEMENT

 

NOW THEREFORE,

for good and valuable consideration, receipt of which is hereby acknowledged,

Lessor and Lessee each agrees as follows:

 

1.  Recitals.  Each of the foregoing recitals is true and correct and each of

these Leases is confirmed and ratified as being in full force and effect.

 

2.  Termination: Survival of Indemnity.  Lessor and Lessee agree that, in

consideration of the timely performance by Lessee of all of its obligations

hereunder, each of the B-4 and B-5 Leases and all rights, obligations and

liabilities of Lessor and Lessee under the B-4 and B-5 Leases with respect to

the time period following the Termination Date (including, without limitation,

the option to extend the Lease Term in Section 3.02, the Right of First Offer

to Lease in Section 17.25 and all other options and right of first refusal or

first offer contained therein) are hereby terminated as of the Termination

Date, provided that Lessee’s indemnity obligations under Sections 7.07, 7.08

and 17.22(d) of the B-4 and B-5 Leases (copies of which Sections are attached

hereto as part of Exhibit “A” and incorporated herein by this reference) shall

survive said termination as to acts, omissions, conditions and events which

occur on or before the later of (i) the Termination Date, or (ii) the date upon

which Lessee vacates the Premises and surrenders legal and actual possession of

same to Lessor.

 

3.  Termination Payment.  As additional consideration for Lessor’s

entering into this Agreement, on or before the Termination Date Lessee shall

pay to Lessor in cash or immediately available funds (i) a lease buyout fee

(the “Lease

Buyout Fee”) in the total sum of Forty Five Million Dollars and no

cents ($45,000,000.00), and (ii) an amount equal to fifty percent (50%) of Base

Rent and NNN installments otherwise due on May 1, 2002, i.e., $542,372.64.

 

4.  Surrender of Premises.  On the Termination Date, Lessee shall vacate

and thereby surrender legal and actual possession of the B-4 and B-5 Premises including

all existing Tenant Improvements and existing generators at the B-4 and B-5

Premises to Lessor in the condition required by Section 17.09(a) of the B-4 and

B-5 Leases (a copy of which Section is attached hereto as part of Exhibit “A”

and incorporated herein by this reference). 

If Lessee remains in possession of either or both of the B-4 and B-5

Premises after the Termination Date, Lessee shall be a tenant at sufferance,

subject to immediate eviction without notice and to liability for damages under

California law, and shall be in material breach of this Agreement and the B-4

and B-5 Leases.  The provisions of

Section 17.09(b) of the B-4 and B-5 Leases (set forth in Exhibit “A”) are

incorporated herein by the reference and shall apply to any holdover by Lessee

beyond the Termination Date.

 

5.  Lease Obligations to be Performed.  As a condition to Lessor’s obligations

hereunder (but not as consideration therefore), through and including the

Termination Date, Lessee shall comply fully and timely with all the terms,

obligations, covenants, and conditions of the B-4 and B-5 Leases, including,

without limitation, payment of Base Rent and Additional Rent and all other

amounts to be paid by Lessee under the B-4 and B-5 Leases.

 

6.  B-4 and B-5 Letters of Credit to be

Returned.  Within ninety-two (92)

days after the Termination Date provided that no bankruptcy petition (voluntary

or involuntary) is filed with respect to BVSN during said ninety-two days (in

which case Lessor may immediately draw on the letters of credit deposited with

Lessor under the Building 4 Lease and the Building 5 Lease, provided that, if

and when a final adjudication determines that Lessor is entitled to keep the

entire Lease Buyout Fee, Lessor will within thirty (30) days thereafter return

the amount drawn, without interest, less all reasonable expenses, including

attorneys’ fees and expert witness fees, which Lessor incurs in the bankruptcy

case (or otherwise) with respect to or in connection with obtaining such final

adjudication) and further conditioned upon the full and timely performance and

observance by Lessee of all of its obligations hereunder and under the B-4 and

B-5 Leases (pursuant to Lessee’s obligation to do so under the B-4 and B-5

Leases and not as consideration for the termination of the Leases) through the

Termination Date, Lessor shall deliver to Lessee the two letters of credit

being held as Security Deposits under the B-4 Lease and B-5 Lease and provided

that Lessee has performed its obligations pursuant to that certain First

Amendment to Lease being executed currently herewith for the B-6 Lease to

deliver a $3,500,000.00 letter of credit as additional security under the B-6

Lease.  In the event Lessor is entitled

to keep only a portion of the Lease Buyout Fee, Lessor shall be entitled to

keep the amounts drawn

 

2

 

on the letters of credit to

make up the portion of the Lease Buyout Fee disallowed, and shall return the

remainder to Lessee.

 

7.  Tenant Improvement Deposits.  Lessee hereby acknowledges that all monies

on deposit with Lessor or its lender which were deposited under the B-4 and B-5

Leases for the purpose of paying for Tenant Improvements have been released and

transferred by Lessee to be applied by Lessor to payment of Tenant

Improvements, pursuant to Lessee’s obligations to do so under the B-4 and B-5

Leases (and not as consideration hereunder) and Lessee relinquishes and waives

any claim to said monies (and to any accounting therefor).

 

8.  All Obligations Performed.  Lessor and Lessee each acknowledge that the

other has performed and observed all its obligations to be performed and

observed under the B-4, B-5 and B-6 Leases through and including the date

hereof and neither Lessee nor Lessor is in default under the B-4, B-5 or B-6

Leases.  Within thirty (30) days after

the Termination Date, Lessee, at its sole cost and expense, shall (i)

disconnect and sever all existing telephone, security and any and all other

services or systems which are connected between any of B-4, B-5 and B-6

Buildings and repair any damage caused thereby as reasonably approved by

Lessor, such that the affected service and system in each Building is a usable

stand alone system, (ii) deliver to Lessor all reader cards, any other service or

system components necessary or appropriate to utilize said services and

systems, “as-built” plans, manufacturers handbooks and other information which

Lessee possesses concerning such services and systems, and (iii) assign to

Lessor, in form reasonably acceptable to Lessor, all warranties and guaranties

related to said services and systems.

 

9.  Lessee’s Breach; Specific Performance and

Liquidated Damages.  Notwithstanding

any other provisions hereof, if Lessee fails to comply timely with any of its

obligations set forth in paragraph 3, 4 or 5 hereof, including, without

limitation, payment of the Lease Buyout Fee as well as, vacation and surrender

of the B-4 and B-5 Premises on the Termination Date, or if a Lessee

representation in paragraphs 11 or 12 hereof is untrue, Lessee shall be in

material breach hereof, and Lessor may elect either to (i) sue for specific

performance and for damages, or (ii) elect to cancel this Agreement in which

case the B-4 and B-5 Leases shall not terminate and/or (iii) pursue any and all

other legal or equitable remedies it may have.

 

10.  Lender’s Consent; Board Authorization.  Lessee’s and Lessor’s obligations hereunder

are subject to the receipt (i) by Lessee, no later than thirty (30) business

days after the date hereof, of the Lender’s Consent, as hereinafter defined,

and (ii) by Lessor, no later than May 2, 2002, of a certified resolution of

Lessee’s Board of Directors authorizing the execution of this Amendment.  Lessor hereby agrees to use diligent efforts

to obtain the Lender’s Consent by such date; however, if Lessee does not

receive the Lender’s Consent by such date, this Amendment shall, at either

Lessor’s or Lessee’s option, thereupon be deemed terminated and of no further

force or effect, and neither party shall have any further rights, obligations,

or liabilities hereunder.  As used

herein, the term “Lender’s Consent” means a written consent

to this Agreement (including, without limitation, Section 13 hereof), executed

by the holder of the promissory note secured by that certain Deed of Trust

encumbering the fee interest in the real property of which the Premises are a

part) recorded on March 31, 2001 in the Official Records of San Mateo,

California, as Document No 2000-037860.

 

11.  No Prior Transfer or Rights.  Lessee hereby represents and warrants that

it has not made any assignment, sublease, license, conveyance, encumbrance,

lien or any other transfer of any nature whatsoever of (i) the B-4 and B-5

Leases, (ii) the Tenant Improvement Deposits, (iii) any rights or benefits

under the B-4 and B-5 Leases, including, without limitation, the right to

possession, use or occupancy of the B-4 and B-5 Premises, or any part thereof

and that Lessee has all power, authority and right necessary to terminate the

B-4 and B-5 Leases as of the Termination Date and to otherwise enter into and

perform this Agreement and Lessee further represents and warrants that neither

the execution nor compliance with this Agreement will conflict with or result

in a breach of any other agreement, instrument, order, injunction, judgment or

decree to which Lessee is a party or by which Lessee is bound or constitutes a

default hereunder.

 

12.  Solvency.  Lessee represents and warrants that, as of the date of this

Agreement, and after giving effect to the transactions contemplated hereby,

Lessee is paying and is and will be able to pay its debts in the ordinary

course of its business and consistent with its past practices and Lessee does

and will have capital sufficient to carry on its business.

 

3

 

13.  General Release and Indemnity.  Effective as of the Termination Date, Lessor

and Lessee, each on behalf of itself, its respective shareholders, partners,

officers, directors, constituent members, lenders, associates, affiliates,

attorneys, trustees, trusts as to which it serves as trustee, employees,

agents, and all others claiming through same and each of their successors and

assigns (collectively, disjunctively, and conjunctively its “Affiliates”)

hereby generally releases and forever discharges the other party and its

Affiliates from and against any and all claims, demands, charges, costs,

liabilities, expenses (including reasonable attorneys’ fees), accounts, actions

or causes of action of any nature, whether absolute or contingent, tort or

contract, legal or equitable, common law or statutory, now or hereafter

occurring, and no matter by whom alleged or asserted, and including, without

limitation, both known and unknown liabilities, claims and causes of action

arising out of, related to or in connection with (i) the B-4 and B-5 Leases,

(ii) the design, construction, characterization and costs of Tenant

Improvements, (iii) Lessee’s possession or use of the B-4 and B-5 Premises

during the terms of the B-4 and B-5 Leases and through and including the

Termination Date, and/or (iv) any other relationship dealing or occurrence

between Lessor and Lessee or anyone else acting on behalf of Lessor or Lessee

except for obligations expressly excluded below (collectively “Claims”).  The foregoing shall not release Lessor’s

obligation to return the Letters of Credit pursuant to Section 6 hereof.  Each party agrees to indemnify and hold

harmless the other party and its Affiliates as to any of the Claims released by

such party which is brought against such other party and/or its Affiliates.

 

14.  Full and Final Release; Unknown Claims.  This is a full and final release of any and

all Claims by Lessor and Lessee and their respective Affiliates against the

other and its Affiliates.  This

Agreement shall apply to all unknown and unanticipated damages or injuries

resulting from any such Claims.  Lessor

and Lessee each on behalf of itself and its Affiliates, in its capacity as the

holder of potential unknown claims (“Creditor”) against the other and its

Affiliates (“Debtor”), expressly waives the provisions of California Civil

Code Section 1542, which provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS

WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF

EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS

SETTLEMENT WITH THE DEBTOR.”

 

	

  /s/ fb

  	

   

  
	

  Lessee’s

  Initials

  	

   

  
	

   

  	

   

  
	

  /s/ jp

  	

   

  
	

  Lessor’s

  Initials

  	

   

  

 

15.  No Prior Assignment of Claims.  Each party warrants and represents that no

other person has any interest in the Claims it is releasing and that no

assignment or transfer of any of such Claims has occurred.

 

16.  Expressly Excluded Claims.  The parties expressly exclude from the

Claims being released hereunder, their respective obligations and any claims

related to or arising from the B-6 Lease.

 

17.  Indefeasibility Covenants and Conditions.

 

(a)           Lessee shall indemnify and hold

harmless Lessor from any cost, liability, expense, claim or damage that Lessor

may suffer as a consequence of the failure of Lessor to obtain or retain the

benefits of this Agreement as a result of any action of Lessee, including,

without limitation, the cost and expenses of defending or otherwise seeking to

preserve its rights pursuant to this Agreement.

 

(b)           Lessee and Lessor each hereby

covenants and agrees that they will not, by voluntary action, by amendment of

this Agreement or through any reorganization, recapitalization, transfer of

assets, consolidation, merger or dissolution or any other voluntary action,

avoid or seek to avoid the observance or performance of any of the terms to be

observed or performed hereunder by them, but will at all times in good faith

assist in the carrying out of all the provisions of this Agreement and in the

taking of all such action as may be necessary or appropriate to protect the

rights and benefits of the other party against impairment.

 

(c)           Lessee and Lessor each hereby

covenants and agrees that they shall not initiate, assign, maintain, prosecute

or otherwise participate or assist in, or benefit from, or assist in, or

benefit from, or finance, support or otherwise encourage the institution,

maintenance or pursuit of any action, claim, demand, cause of action,

 

4

 

defense, or proceeding (whether

at law or otherwise) against the other party that would impair any of the

rights or benefits of the other party hereunder.

 

18.  Further Cooperation.  Each party shall take such further action,

including, without limitation, the execution of additional documents, as may be

reasonably required to effectuate the terms and conditions of this Agreement.

 

19.  Dismissal of Litigation.  Lessee and Lessor each shall dismiss with

prejudice, within five (5) days after the date of this Agreement, any and all

legal or equitable actions it has filed against the other in a court of law

prior to the date of this Agreement.

 

20.  Attorneys’ Fees for Breach of this

Agreement.  If any party brings an

action or proceeding to enforce the terms hereof or declare rights hereunder,

the prevailing party in any such proceeding, action or appeal thereon, shall be

entitled to reasonable attorneys’ fees. 

Such fees may be awarded in the same suit or recovered in a separate suit

whether or not such action or proceeding is pursued to decision or judgment.

 

21.  Legal Representation.  Each party hereby acknowledges and

represents that it has been represented by legal counsel with respect to this

Agreement and understands and assumes the risk of all rights surrendered and

all burdens assumed by entering into this Agreement and is in no manner relying

on any representations of the other party or its agents or employees with

respect to the subject matter of this Agreement.  Each party shall bear its own attorneys’ fees incurred in

connection with this Agreement and the subject matter hereof with respect to

the time period preceding the execution hereof.

 

22.  WAIVER OF RIGHT TO JURY TRIAL.  LESSOR AND LESSEE WAIVE THEIR RESPECTIVE

RIGHTS TO TRIAL BY JURY OF ANY CONTRACT, STATUTORY OR TORT CLAIM, DEFENSE,

COUNTERCLAIM, CROSS-COMPLAINT, OR CAUSE OF ACTION IN ANY ACTION, PROCEEDING, OR

HEARING BROUGHT BY EITHER PARTY AGAINST THE OTHER ON ANY MATTER ARISING OUT OF

OR IN ANY WAY CONNECTED WITH OR RELATED TO THIS AGREEMENT, OR ITS NEGOTIATION

OR EXECUTION, THE B-4 OR B-5 BUILDINGS OR LEASES WHETHER FOR EQUITABLE RELIEF

OR DAMAGES OR THE ENFORCEMENT OF ANY OTHER REMEDY UNDER ANY CURRENT OR FUTURE

LAW, STATUTE, REGULATION, CODE, OR ORDINANCE.

 

23.  Time is of the Essence.  Time is of the essence of each provision

hereof.

 

5

 

24.  Notices.

 

(a)           Written Notice.  Any notice required or permitted to be given

hereunder shall be in writing and shall be given by a method described in

paragraph (b) below and shall be addressed to Lessee or to Lessor at the

addresses noted below, next to the signature of the respective parties, as the

case may be.  Either party may by notice

to the other specify a different address for notice purposes.  A copy of all notices required or permitted

to be given to Lessor hereunder shall be concurrently transmitted to such party

or parties at such addresses as Lessor may from time to time hereafter

designate by notice to lessee, but delay or failure of delivery to such person

shall not affect the validity of the delivery to Lessor or Lessee.

 

(b)           Methods of Delivery.

 

(i)            When personally delivered to the

recipient, notice is effective on delivery. 

Delivery to the person apparently designated to receive deliveries at the

subject address is personally delivered if made during business hours (e.g.

receptionist).

 

(ii)           When mailed by certified mail with

return receipt requested, notice is effective on receipt if delivery is

confirmed by a return receipt.

 

(iii)          When delivery by overnight delivery

Federal Express/Airborne/United Parcel Service/DHL WorldWide Express with

charges prepaid or charged to the sender’s account, notice is effective on

delivery if delivery is confirmed by the delivery service.

 

(c)           Refused, Unclaimed or

Undeliverable Notices.  Any

correctly addressed notice that is refused, unclaimed, or undeliverable because

of an act or omission of the party to be notified shall be considered to be

affective as of the first date that the notice was refused, unclaimed, or

considered undeliverable by the postal authorities, messenger, or overnight

delivery service.

 

25.  Counterparts.  This Agreement may be executed in

counterpart originals, in which case all such counterpart originals, taken

together, shall constitute one and the same Agreement.

 

26.  Entire Agreement and Integration Clause.  This Agreement constitutes the entire

Agreement between the parties as to the subject matter contained herein and

supersedes all prior discussions, negotiations, and agreements whether oral or

written.  Any amendment to this

 

6

 

Agreement, including oral

modification supported by new consideration, must be reduced to writing and

signed by both parties before it will be effective.

 

	

  LESSOR

  	

   

  	

  LESSEE

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  “PACIFIC SHORES”

  	

   

  	

  “BROADVISION”

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  Pacific

  Shores Development, LLC,

  	

  BroadVision,

  Inc., a

  
	

  a Delaware

  limited liability company

  	

   

  	

  Delaware

  corporation

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  By:

  	

  Technology

  Land, LLC,

  	

   

  	

   

  	

   

  
	

   

  	

  a California

  limited

  	

   

  	

   

  	

   

  
	

   

  	

  liability

  company

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  By:

  	

  /s/ Jay Paul

  	

   

  	

  By:

  	

  /s/ Fran

  Barton

  
	

   

  	

  Jay Paul,

  	

   

  	

   

  	

  Fran Barton

  
	

   

  	

  (type or

  print name)

  	

   

  	

   

  	

  (type or

  print name)

  
	

  Its:

  	

  President

  	

   

  	

  Its:

  	

  EVP &

  CFO

  

 

 

	

  Notice

  Address:

  	

  Notice

  Address:

  
	

   

  	

   

  	

   

  	

   

  
	

  Attn:

  	

  Jay Paul

  	

  Attn:

  	

  Legal

  Department

  
	

   

  	

  Technology

  Land, LLC

  	

   

  	

  BroadVision,

  Inc.

  
	

   

  	

  350

  California Street, Ste. 1905

  	

   

  	

  585 Broadway

  
	

   

  	

  San

  Francisco, CA  94104-1432

  	

   

  	

  Redwood

  City, CA  94063

  
	

   

  	

   

  	

   

  	

   

  
	

  With a copy

  to:

  	

  With a copy

  to:

  
	

   

  	

  Thomas G.

  Perkins, Esq.

  	

   

  	

  Elizabeth A.

  Willes, Esq.

  
	

   

  	

  99 Almaden

  Blvd., 8th Floor

  	

   

  	

   

  	

  Cooley Godward

  LLP

  
	

   

  	

  San Jose,

  CA  95113

  	

   

  	

   

  	

  4401

  Eastgate Mall

  
	

   

  	

   

  	

   

  	

   

  	

  San Diego,

  CA  92121

  

 

7

 

EXHIBIT A

 

Section 7.07 

Indemnification and Exculpation.

 

(a)    

Except as otherwise provided in Section 7.07.(b), Lessee shall indemnify

and hold Lessor free and harmless from any and all liability, claims, loss,

damages, causes of action (whether in tort or contract, law or equity, or

otherwise), expenses, charges, assessments, fines, and penalties of any kind,

including without limitation, reasonable attorney fees, expert witness fees and

costs, arising by reason of the death or injury of any person, including any

person who is an employee, agent, invitee, licensee, permittee, visitor, guest

or contractor of Lessee, or by reason of damage to or destruction of any

property, including property owned by Lessee or any person who is an employee,

agent, invitee, permittee, visitor, or contractor of Lessee, caused or

allegedly caused (1) while that person or property is in or about the Premises;

(2) by some condition of the Premises; (3) by some act or omission by Lessee or

its agent, employee, licensee, invitee, guest, visitor or contractor or any

person in, adjacent, on, or about the Premises with the permission, consent or

sufferance of Lessee; (4) by any matter connected to or arising out of Lessee’s

occupation and use of the Premises, or any breach or default in timely

observance or performance of any obligation on Lessee’s part to be observed or

performed under this Lease.

 

(b)    

Notwithstanding the provisions of Section 7.07.(a) of this Lease,

Lessee’s duty to indemnify and hold Lessor harmless shall not apply to any

liability, claims, loss or damages arising because of Lessor’s active

negligence or willful acts of misconduct.

 

(c)    

Lessee hereby waives all claims against Lessor for damages to goods,

wares and merchandise and all other personal property in, on or about the

Premises and for injury or death to persons in, on or about the Premises from

any cause arising at any time to the fullest extent permitted by law. In no

event shall Lessor be liable (i) for lost profits or other consequential

damages arising from any cause or (ii) for any damage which is or could be

covered by the insurance Lessee is required to carry under this Lease.

 

Section 7.08.  Lessor as Party Defendant.    If by reason of an act or omission of

Lessee or any of its employees, agents, invitees, licensee, visitors, guests or

contractors,  Lessor is made a party defendant or a cross-defendant to any action

involving the Premises or this Lease, Lessee shall hold harmless and indemnify

Lessor from all liability or claims of liability, including all damages,

attorney fees and costs of suit.

 

Section 17.09.  Surrender of Possession; Holding Over.

 

(a)           At

the expiration of the Lease, Lessee agrees to deliver up and surrender to

Lessor possession of the Premises and all improvements thereon broom clean and,

in as good order and condition as when possession was taken by Lessee,

excepting only ordinary wear and tear (wear and tear which could have been

avoided by first class maintenance practices and in accordance with industry

standards shall not be deemed “ordinary”). 

Upon expiration or sooner termination of this Lease, Lessor may reenter

the Premises and remove all persons and property therefrom.  If Lessee shall fail to remove any personal

property which it is entitled or obligated to remove from the Premises upon the

expiration or sooner termination of this Lease, for any cause whatsoever,

Lessor, at its option, may remove the same and store or dispose of them, and

Lessee agrees to pay to Lessor on demand any and all expenses incurred in such

removal and in making the Premises free from all dirt, litter, debris and

obstruction, including all storage and insurance charges.  If the Premises are not surrendered at the

end of the Lease Term, Lessee shall indemnify Lessor against loss or liability

resulting from delay by Lessee in so surrendering the Premises, including, without

limitation, actual damages for lost rent and with respect to any claims of a

successor occupant.

 

(b)           If

Lessee, with Lessor’s prior written consent, remains in possession of the

Premises after expiration of the Lease Term and if Lessor and Lessee have not

executed an express written agreement as to such holding over, then such

occupancy shall be a tenancy from month to month at a monthly Base Rent

equivalent to one hundred fifty percent (150%) of the monthly rental in effect

immediately prior to such expiration, such payments to be made as herein

provided for Base Rent. In the event of such holding over, all of the terms of

this Lease, including the payment of Additional Rent all charges owing

hereunder other than rent shall remain in force and effect on said month to

month basis.

 

8

 

Section 17.22.   Hazardous Materials.

 

(d)           Lessee’s

Environmental Indemnity.  Lessee

agrees to indemnify and hold Lessor harmless from any liabilities, losses,

claims, damages, penalties, fines, attorney fees, expert fees, court costs,

remediation costs, investigation costs, or other expenses resulting from or

arising out of the use, storage, treatment, transportation, release, presence,

generation, or disposal of Hazardous Materials on, from or about the Project,

and/or subsurface or ground water, from an act or omission of Lessee (or

Lessee’s successor), its agents, employees, invitees, vendors, contractors,

guests or visitors.

 

9Exhibit

10.30

 

FIRST

AMENDMENT TO LEASE

 

(Building 6 – 1600 Seaport Boulevard)

 

This First

Amendment to Lease (“First Amendment”) is dated for reference

purposes, entered into and made effective as of May 9, 2002 at San Francisco,

California, by and between PACIFIC SHORES DEVELOPMENT, LLC, a Delaware

limited liability company (“Lessor”) and BROADVISION, INC., a Delaware

corporation (“Lessee”).

 

R

E C I T A L S

 

A.            Lessor and Lessee entered into that

certain written Lease dated February 15, 2000 (“Lease”), with respect to

certain premises identified therein and commonly known as Building 6, Pacific

Shores Center, 1600 Seaport Boulevard, Redwood City, California  94060 (“Premises”).

 

B.            Lessor and Lessee now desire to

amend the Lease (i) to provide for an additional Three Million Five Hundred

Thousand Dollar ($3,500,000.00) letter of credit, (ii) to provide an occupancy

agreement, and (iii) to release certain Claims (defined herein), all on the

terms and conditions set forth below.

 

AGREEMENT

 

NOW THEREFORE,

for good and valuable consideration, receipt of which is hereby acknowledged,

Lessor and Lessee each agrees as follows:

 

1.  Recitals.  Each of the foregoing recitals is true and correct and each of

these Leases is confirmed and ratified as being in full force and effect.

 

2.  Additional Letter of Credit.  Within ninety (90) days after the execution

of this First Amendment, Lessee shall deliver to Lessor an additional Three

Million Five Hundred Thousand Dollar ($3,500,000.00) letter of credit, payable

to Lessor and its lender as co-beneficiaries, which complies with the letter of

credit requirements of Section 4.06 of the Lease, substantially in the form of

the letter of credit currently held by lessor under the Lease, and, in all

other respects, is in a form and with a bank satisfactory to Lessor. The

additional letter of credit delivered pursuant to this Section 2 shall become

part of Security Deposit so that the total Security Deposit shall be Fourteen

Million Four Hundred Three Thousand, Seven Hundred Seventy-Six Dollars and no

cents ($14,403,776.00).

 

3.  Occupancy Requirement.  Lessee agrees that, on or before December

31, 2003, and at all times thereafter (subject to the Force Majeure provision

of Section 17.21 of the Lease), Lessee shall cause the Premises to be and

remain no less than eighty percent (80%) occupied, i.e, eighty percent (80%) of

the Premises shall be utilized by Lessee (or its subtenants) on a daily basis

for the conduct of business.

 

4.  Release of Claims; Indemnity.  Lessor and Lessee, each on behalf of itself,

its respective shareholders, partners, officers, directors, constituent

members, lenders, associates, affiliates, attorneys, trustees, trusts as to

which it serves as trustee, employees, agents, and all others claiming through

same and each of their successors and assigns (collectively, disjunctively, and

conjunctively its “Affiliates”) hereby generally releases and

forever discharges the other party and its Affiliates from and against any and

all claims, demands, charges, costs, liabilities, expenses (including

reasonable attorneys’ fees), accounts, actions or causes of action of any

nature, whether absolute or contingent, tort or contract, legal or equitable,

common law or statutory, now or hereafter occurring, and no matter by whom

alleged or asserted, and including, without limitation, both known and unknown

liabilities, claims and causes of action based upon facts, circumstances,

occurrences or conditions which have existed on or before the date of this

First Amendment and arising out of, related to or in connection with (i) the

negotiation and execution of the Lease, (ii) the Commencement Date of the Lease

Term, (iii) the design, construction, characterization and costs of Tenant

Improvements, (iv) Lessee’s acceptance of possession and occupying the

Premises, and/or (v) any other

 

 

relationship, dealing or

occurrence outside of the Lease between Lessor and Lessee or anyone else acting

on behalf of Lessor or Lessee (collectively “Claims”), but nothing in this

First Amendment is meant to waive, release or discharge (a) the parties

respective ongoing rights and obligations under the Lease with respect to

matters other than those described in subparts (i) through (v) and which are

based upon facts, circumstances, occurrences or conditions which either occur

after the date hereof or occurred on or prior to the date hereof but were

unknown to the releasing party on the date hereof, or (b) under Sections 5.04

and 6.01(b) of the Lease with respect to any defective condition at the Premises

as of the Lease Commencement Date, or (c) any matters involving Hazardous

Materials.    Each party agrees to

indemnify and hold harmless the other party and its Affiliates as to any of the

Claims released by such party which is brought against such other party and/or

its Affiliates.  Each party represents

to the other that it knows of no facts or circumstances, occurrences or

conditions which with the passage of time or the giving of notice or both would

serve as a basis for a cause of action against the other, except that Lessee is

aware that the Building has had an odor problem that is being addressed by

Lessor and Lessee.

 

5.  Full and Final Release; Unknown Claims.  This is a full and final release of any and

all Claims by Lessor and Lessee and their respective Affiliates against the

other and its Affiliates.  This First

Amendment shall apply to all unknown and unanticipated damages or injuries

resulting from any such Claims.  Lessor

and Lessee each on behalf of itself and its Affiliates, in its capacity as the

holder of potential unknown claims (“Creditor”) against the other and its

Affiliates (“Debtor”), expressly waives the provisions of California Civil

Code Section 1542, which provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS

WHICH CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF

EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS

SETTLEMENT WITH THE DEBTOR.”

 

	

  /s/ fb

  	

   

  
	

  [Lessee’s

  Initials]

  	

   

  
	

   

  	

   

  
	

  /s/ jp

  	

   

  
	

  [Lessor’s

  Initials]

  	

   

  

 

6.  All Obligations Performed.  Lessor and Lessee each acknowledge that the

other has performed and observed all its obligations to be performed and

observed under the Lease through and including the date hereof, neither Lessee

nor Lessor is in default under the Lease. 

Lessee further acknowledges that it has previously exercised its Right

of First Offer under Section 17.25 of the Lease to lease Building 4, the

parties hereby agree that Section 17.25 is null and void.

 

7.  Further Cooperation.  Each party shall take such further action,

including, without limitation, the execution of additional documents, as may be

reasonably required to effectuate the terms and conditions of this First

Amendment.

 

8.  Dismissal of Litigation.  Lessee and Lessor each shall dismiss with

prejudice, within five (5) days after the date of this First Amendment, any and

all legal or equitable actions it has filed against the other in a court of law

prior to the date of this First Amendment.

 

9.  Counterparts.  This First Amendment may be executed in counterpart

originals, in which case all such counterpart originals, taken together, shall

constitute one and the same First Amendment.

 

10.  Lender’s Consent: Board Authorization.  Lessee’s and Lessor’s obligations hereunder

are subject to the receipt (i) by Lessee, no later than thirty (30) business

days after the date hereof, of the Lender’s Consent, as hereinafter defined and

(ii) by Lessor, no later than May 2, 2002, of a certified resolution of

Lessee’s Board of Directors authorizing the execution of this First

Amendment.  Lessor hereby agrees to use

diligent efforts to obtain the Lender’s Consent by such date; however, if

Lessee does not receive the Lender’s Consent by such date, this First Amendment

shall, at either Lessor’s or Lessee’s option, thereupon be deemed terminated

and of no further force or effect, and neither party shall have any further

rights, obligations, or liabilities hereunder. 

As used herein, the term “Lender’s Consent” means a written consent

to this First Amendment (including, without limitation, Section 4

 

2

 

hereof), executed by the holder

of the promissory note secured by that certain Deed of Trust encumbering the

fee interest in the real property of which the Premises are a part) recorded on

March 31, 2001 in the Official Records of San Mateo, California, as Document No

2000-037860.

 

 

3

 

Except to the

extent amended by the foregoing provisions, and as so amended, the Lease is hereby

ratified and confirmed as being in full force and effect.

 

	

  LESSOR

  	

   

  	

  LESSEE

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  “PACIFIC SHORES”

  	

   

  	

  “BROADVISION”

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  Pacific

  Shores Development, LLC,

  	

  BroadVision,

  Inc., a

  
	

  a Delaware

  limited liability company

  	

   

  	

  Delaware

  corporation

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  By:

  	

  Technology

  Land, LLC,

  	

   

  	

   

  	

   

  
	

   

  	

  a California

  limited

  	

   

  	

   

  	

   

  
	

   

  	

  liability

  company

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  By:

  	

  /s/ Jay Paul

  	

   

  	

  By:

  	

  /s/ Fran

  Barton

  
	

   

  	

  Jay Paul,

  	

   

  	

   

  	

  Fran Barton

  
	

   

  	

  (type or

  print name)

  	

   

  	

   

  	

  (type or

  print name)

  
	

  Its:

  	

  President

  	

   

  	

  Its:

  	

  EVP &

  CFO

  

 

	

  Notice

  Address:

  	

  Notice

  Address:

  
	

   

  	

   

  	

   

  	

   

  
	

  Attn:

  	

  Jay Paul

  	

  Attn:

  	

  Legal

  Department

  
	

   

  	

  Technology

  Land, LLC

  	

   

  	

  BroadVision,

  Inc.

  
	

   

  	

  350

  California Street, Ste. 1905

  	

   

  	

  585 Broadway

  
	

   

  	

  San

  Francisco, CA  94104-1432

  	

   

  	

  Redwood

  City, CA  94063

  
	

   

  	

   

  	

   

  	

   

  
	

  With a copy

  to:

  	

  With a copy

  to:

  
	

   

  	

  Thomas G.

  Perkins, Esq.

  	

   

  	

  Elizabeth A.

  Willes, Esq.

  
	

   

  	

  99 Almaden

  Blvd., 8th Floor

  	

   

  	

   

  	

  Cooley

  Godward LLP

  
	

   

  	

  San Jose,

  CA  95113

  	

   

  	

   

  	

  4401

  Eastgate Mall

  
	

   

  	

   

  	

   

  	

   

  	

  San Diego,

  CA  92121

  

 

4

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