Document:

EX-10.33

 

Exhibit 10.33

FIRST AMENDMENT TO LEASE

          This FIRST AMENDMENT TO LEASE dated as of March 12, 2007 (this “Amendment”) between RCPI
LANDMARK PROPERTIES, L.L.C., a Delaware limited liability company having an office c/o Tishman
Speyer Properties, L.P., 45 Rockefeller Plaza, New York, New York 10111 (“Landlord”), and OMRIX
BIOPHARMACEUTICALS INC., a Delaware corporation having an office at 630 Fifth Avenue,
22nd Floor, New York, New York 10111 (“Tenant”).

W I T N E S S E T H:

          WHEREAS, Landlord and Tenant entered into that certain Lease dated as of September 19, 2006
(the “Original Lease”), covering a portion of the 22nd floor (the “Original
Premises”) of the building known as 630 Fifth Avenue, New York, New York, all as more
particularly described in the Original Lease; and

          WHEREAS, Landlord and Tenant desire to modify the Original Lease to (i) provide for the
leasing by Tenant of a portion of the 23rd floor of the building known as One
Rockefeller Plaza, New York, New York (“One Rockefeller Plaza”), designated as Suite ‘D’ and being
more particularly shown on Exhibit A attached hereto (the “Additional Premises”)
and (ii) otherwise modify the terms and conditions of the Original Lease, all as hereinafter set
forth (the Original Lease, as modified by this Amendment, the “Lease”).

          NOW, THEREFORE, in consideration of the mutual covenants herein contained, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and
Tenant agree as follows:

     1. Capitalized Terms. All capitalized terms used and not otherwise defined in this

Amendment shall have the respective meanings ascribed to them in the Original Lease.

     2. Lease of Additional Premises, (a) Landlord hereby leases to Tenant, and
Tenant hereby leases from Landlord the Additional Premises for a term commencing on the
date that Landlord delivers possession of the Additional Premises to Tenant free of all
tenancies and occupants with the work set forth on Exhibit B (“Landlord’s Additional Premises
Work”) having been Substantially Completed (the “Additional Premises Commencement Date”) and
ending on the date which is the last day of the month in which the ten year and two (2) month
anniversary of the Additional Premises Commencement Date occurs (the “One Rockefeller
Plaza Expiration Date”), or such earlier date upon which the term of the Lease may
expire or be terminated pursuant to any of the conditions of limitation or other provisions of the Lease or
pursuant to law, upon all of the terms and conditions of the Original Lease, as modified by
this Amendment,

          (b) Landlord shall not be liable for failure to deliver possession of the Additional Premises
to Tenant on any specified date, and such failure shall not impair the validity of this Amendment.
Landlord shall be deemed to have delivered possession of the Additional Premises to Tenant upon
the giving of notice by Landlord to Tenant stating that the Additional Premises are vacant and
available for Tenant’s occupancy and in the condition required by this Amendment. There shall be
no postponement of the Additional Premises Commencement Date or the Additional Premises Rent
Commencement Date (as hereinafter defined) for any delay in the delivery of possession of the
Additional Premises to Tenant that

 

 

results from any Tenant Delay. The provisions of this paragraph are intended to constitute
“an express provision to the contrary” within the meaning of Section 223-a of the New York Real
Property Law or any successor Requirement,

          (c) Effective as of the Additional Premises Commencement Date, Tenant
shall lease the Additional Premises upon all of the terms and conditions of the Original
Lease, except as follows:

          (i) The Fixed Rent payable under the Lease with respect to the Additional Premises
shall be an amount equal to (A) $791,632.50 per annum ($65,969.38 per month) for the period
commencing on the Additional Premises Commencement Date and ending on the day preceding the
5-year anniversary of the Additional Premises Commencement Date, both dates inclusive, and
(B) $854,247.50 per annum ($71,187.29 per month) for the period commencing on the 5-year
anniversary of the Additional Premises Commencement Date and ending on the One Rockefeller
Plaza Expiration Date, both dates inclusive, payable at the times and in the manner
specified in the Lease for the payment of Fixed Rent.

          (ii) The Additional Premises shall be deemed to consist of 8,945 rentable square feet
for all purposes of the Lease.

          (iii) Tenant shall pay all Additional Rent payable pursuant to the Original Lease,
including Article 7 thereof, except with respect to the Additional Premises only,
(A) “Base Tax Year” shall mean the calendar year 2007 (i.e., the second half of the Tax
Year commencing on July 1, 2006 and ending on June 30, 2007 and the first half of the Tax
Year commencing on July 1, 2007 and ending on June 30, 2008), (B) “Base Expense Year” shall
mean the calendar year commencing on January 1, 2007 and ending on December 31, 2007, (C)
“Tenant’s Area” shall mean 8,945 rentable square feet, and (D) “Comparison Year” shall mean
(i) with respect to Taxes, each calendar year commencing subsequent to the first day of the
2006/2007 Tax Year, and (ii) with respect to Operating Expenses, each calendar year
commencing subsequent to the first day of the Base Expense Year.

          (iv) Notwithstanding the foregoing, provided that Tenant shall not be in default
beyond the expiration of any applicable notice and cure periods set forth in the Lease of
any of the terms, conditions or covenants contained in the Lease, Tenant’s obligation to
pay Fixed Rent in respect of the Additional Premises only shall be abated for the period
commencing on the Additional Premises Commencement Date and ending on the date which is 59
days following the Additional Premises Commencement Date, both dates inclusive. The date
which is 60 days following the Additional Premises Commencement Date shall be referred to
herein as the “Additional Premises Rent Commencement Date”.

          (d) Tenant has inspected the Additional Premises and agrees (A) to accept
possession of the Additional Premises in the “as is” condition existing on the Additional
Premises Commencement Date, (B) that neither Landlord nor Landlord’s agents have made any
representations or warranties with respect to the Additional Premises or One Rockefeller Plaza
except as expressly set forth herein, and (C) except for Landlord’s Additional Premises Work
(as defined above and in Exhibit B). Landlord has no obligation to perform any work, supply any
materials, incur any expense or make any alterations or improvements to the Additional
Premises to prepare the Additional Premises for Tenant’s occupancy. Tenant’s occupancy of
any part of the Additional Premises shall be conclusive evidence, as against Tenant, that (1)

2

 

Landlord has Substantially Completed Landlord’s Additional Premises Work, (2) Tenant has
accepted possession of the Additional Premises in their then current condition, and (3) the
Additional Premises and the Building are in a good and satisfactory condition as required by this
Amendment.

          (e) (i) Tenant shall, upon execution of this Amendment, deliver to Landlord as additional
security for the faithful performance and observance by Tenant of the terms, covenants and
conditions of the Lease, a clean, irrevocable, non-documentary and unconditional letter of credit
(the “Additional Letter of Credit”) in the amount of $950,406.25, which Additional Letter
of Credit shall satisfy all of the requirements for letters of credit set forth in Article
27 of the Original Lease. Landlord shall hold the Additional Letter of Credit, and shall be
entitled to draw upon the Additional Letter of Credit, in accordance with the provisions of
Article 27 of the Original Lease. Upon the delivery thereof, the Additional Letter of
Credit shall be deemed to be part of the Letter of Credit pursuant to the provisions of Article
27 of the Original Lease for all purposes of the Lease. In furtherance of the foregoing,
Landlord may apply the Letter of Credit provided pursuant to the Original Lease and/or the
Additional Letter of Credit (or the cash proceeds of either) in any priority or combination as it
sees fit in its sole and absolute discretion, with respect to the Original Premises and/or the
Additional Premises, in any event in accordance with the provisions of Article 27 of the Original
Lease. Notwithstanding the foregoing, upon execution of this Amendment, Tenant shall be permitted
to deposit a cash security deposit in the amount of $950,406.25 (the “Cash Security”) with Landlord
in lieu of the Additional Letter of Credit, which Landlord shall hold as security for the faithful
performance and observance by Tenant of the terms, covenants and conditions of the Lease. On or
before 45 days after the date hereof, Tenant shall deliver the Additional Letter of Credit to
Landlord in the form required by this Amendment. Upon receipt of the Additional Letter of Credit,
Landlord shall promptly return the Cash Security to Tenant. In the event that Tenant fails to
timely replace the Cash Security with the Additional Letter of Credit, Landlord shall continue to
hold the Cash Security as security under the Lease, and may, at its option, deem such failure to be
an Event of Default under the Lease. Landlord shall not be required to deposit the Cash Security
into an interest bearing account.

               (ii) If (A) Tenant has not previously defaulted in its obligation to pay Rent to Landlord
within the time periods set forth in the Lease and (B) no Event of Default then exists, then,
provided that Tenant complies with the provisions of this
Section 2(e)(ii), on the
2nd anniversary of the Additional Premises Commencement Date, the amount of the
Additional Letter of Credit or cash proceeds of the Additional Letter of Credit shall be reduced
to $760,325.00. The Additional Letter of Credit or cash proceeds of the Additional Letter of
Credit shall be reduced as follows: (1) if in the form of cash proceeds, Landlord shall, within 10
Business Days following notice by Tenant to Landlord that Tenant is entitled to reduce the amount
thereof pursuant to this Section 2(e)(ii), deliver to Tenant the amount by which the cash
proceeds are reduced, or (B) if in the form of the Additional Letter of Credit, Tenant shall
either (x) deliver to Landlord a consent to an amendment to the Additional Letter of Credit (which
amendment must be reasonably acceptable to Landlord in all respects), reducing the amount of the
Additional Letter of Credit by the amount of the permitted reduction, and Landlord shall execute
such consent and such other documents as are reasonably necessary to reduce the amount of the
Additional Letter of Credit in accordance with the terms hereof, or (y) deliver a substitute
Additional Letter of Credit in compliance with this Section 2(e) and Article 27 of
the Original Lease which Landlord will simultaneously exchange for the existing Additional Letter
of Credit and Landlord shall consent to the cancellation of such existing Additional Letter of
Credit. If Tenant delivers to Landlord a consent to an amendment to the Additional Letter of
Credit in accordance with the terms hereof, Landlord shall, within 10 Business Days after delivery
of such

3

 

consent, either (1) provide its reasonable objections to such amendment or (2) execute such
consent in accordance with the terms hereof.

          (f) Landlord shall redistribute or furnish electricity to or for the use of Tenant
in the Additional Premises for the operation of Tenant’s electrical systems and equipment in
the Additional Premises in accordance with Section 10.1 of the Original Lease, except that
with respect to the Additional Premises only, the “Electrical Inclusion Factor” shall be
$31,307.50 per annum, which estimated charge for such electricity is included in Fixed Rent with respect to
the Additional Premises on a so-called “rent inclusion” basis (subject to adjustment as provided
in Section 10.1 of the Original Lease).

          (g) Section 4.2 and Article 28 of the Original Lease shall be deemed not
applicable to the leasing of the Additional Premises.

          (i) Except as provided in this Amendment, all references in the Original Lease to the
“Premises” shall be deemed to include the Additional Premises for all purposes of the Lease. With
respect to the Additional Premises only, all references in the Original Lease to “Term” or “term of
this Lease” or words of similar import shall be deemed to refer to the term of the leasing of the
Additional Premises, all references to the “Expiration Date” or words of similar import shall be
deemed to refer to the One Rockefeller Plaza Expiration Date, and all references to “the Building”
shall be deemed to refer to One Rockefeller Plaza. Each reference in the Original Lease to “this
Lease”, “herein”, “hereunder” or words of similar import shall be deemed to refer to the Lease.

     3. Brokerage. Each of Landlord and Tenant represents and warrants to the other
that it has not dealt with any broker in connection with this Amendment other than Tishman
Speyer Properties, L.P. and Cushman & Wakefield, Inc. (collectively, the “Brokers”) and that,
to the best of its knowledge, no other broker negotiated this Amendment or is entitled to any fee
or commission in connection herewith. Landlord shall pay the Brokers any commission which may
be due in connection with this Amendment pursuant to separate agreements. Each of Landlord
and Tenant shall indemnify, defend, protect and hold the other party harmless from and against
any and all losses, liabilities, damages, claims, judgments, fines, suits, demands, costs,
interest and expenses of any kind or nature (including reasonable attorneys’ fees and disbursements)
incurred in connection with any claim, proceeding or judgment and the defense thereof which
the indemnified party may incur by reason of any claim of or liability to any broker, finder
or like agent (other than the Brokers) arising out of any dealings claimed to have occurred between
the indemnifying party and the claimant in connection with this Amendment, or the above
representation being false. The provisions of this Section 3 shall survive the
expiration or earlier termination of the term of the Lease.

     4. Representations and Warranties. Tenant represents and warrants to Landlord
that, as of the date hereof, (a) the Original Lease is in full force and effect and has not
been modified except pursuant to this Amendment; (b) there are no defaults existing under the
Lease; (c) there exist no valid abatements, causes of action, counterclaims, disputes, defenses,
offsets, credits, deductions, or claims against the enforcement of any of the terms and conditions of
the Lease; (d) this Amendment has been duly authorized, executed and delivered by Tenant and
constitutes the legal, valid and binding obligation of Tenant; (e) Landlord has paid all
amounts and performed all work required to be paid or performed under the Lease in connection with
Tenant’s initial occupancy of the Original Premises under the Lease; and (f) Landlord is not
in default of any of its obligations or covenants under the Lease.

4

 

     5. Miscellaneous. (a) Except as set forth herein, nothing contained in this
Amendment shall be deemed to amend or modify in any respect the terms of the Original Lease and
such terms shall remain in full force and effect as modified hereby. If there is any inconsistency
between the terms of this Amendment and the terms of the Original Lease, the terms of this
Amendment shall be controlling and prevail.

          (b) This Amendment contains the entire agreement of the parties with
respect to its subject matter and all prior negotiations, discussions, representations,
agreements and understandings heretofore had among the parties with respect thereto are merged herein.

          (c) This Amendment may be executed in duplicate counterparts, each of
which shall be deemed an original and all of which, when taken together, shall constitute one
and the same instrument.

          (d) This Amendment shall not be binding upon Landlord or Tenant unless
and until Landlord shall have delivered a fully executed counterpart of this Amendment to
Tenant.

          (e) This Amendment shall be binding upon and inure to the benefit of
Landlord and Tenant and their successors and permitted assigns.

          (f) This Amendment shall be governed by the laws of the State of New York
without giving effect to conflict of laws principles thereof.

          (g) The captions, headings, and titles in this Amendment are solely for
convenience of reference and shall not affect its interpretation.

5

 

          IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the day
and year first above written.

	 	 	 	 	 
	 	LANDLORD:

RCPI LANDMARK PROPERTIES, L.LC.

 	 
	 	By:  	                                      Tishman Speyer Properties, L.P., its Agent
 	 
	 
	 	 	 
	 	By:  	                /s/ Steven R. Wechsler
 	 
	 	 	Steven R. Wechsler 	 
	 	 	Senior Managing Director 	 
	 
	 	TENANT:

OMRIX BIOPHARMACEUTICALS INC.

 	 
	 	By:  	/s/ Michael Burshtine
 	 
	 	 	Name: Michael Burshtine     	 
	 	 	Title:  	EVP & CFO 	 
	 

6EX-10.34

 

Exhibit 10.34

Amendment to Construction Agreement 

Of March 13, 2008

			
	Between:	 	Omrix Biopharmaceuticals Ltd.

Company No. 512166059

Of Blood Services Building, P.O. Box 888 Tel Hashomer, Kiryat Ono, 55100

(hereinafter: the “Customer”)

of the First Part;

			
	And:	 	S&A DESIGN AND CONSTRUCTION LTD.

Company No. 512410218

Of 4 Hasadna’ot Street, Herzliya Pituach, 54728

(hereinafter: the “Contractor”)

of the Second Part;

	 	 	 
	WHEREAS:

	 	On August 2, 2006, the Customer and the Contractor signed a
global payment contract for the design and construction of a
medical preparations factory (hereinafter: the “Original
Agreement”) under which the Contractor is performing design and
construction works for a new factory for the Customer
(hereinafter: the “Original Project”); and
	 
	 	 
	WHEREAS:

	 	The Customer wishes to expand the Original Project and perform
additional works on the site, in accordance with the provisions
of this document (hereinafter: the “Current Project”),

Now, therefore, it is declared, stipulated and agreed by and between the parties as follows:

	1.	 	The Current Project shall be performed in accordance with the conditions of this document of
principles and the appendixes hereto, and in accordance with the conditions of the Original
Agreement, mutatis mutandis (in the event of any conflict, the provisions of this document of
principles and the appendixes to it shall prevail).
	 
	2.	 	The Current Project shall include initial planning and purchase of parts, materials and
devices as set out in this document of principles and the appendixes hereto, and the doing of
particular works as set out below.
	 
	3.	 	Under the Current Project, the Contractor shall design the Project up to the design level and
performance stage defined in Appendix A.

 

 

 - 2 - 

	4.	 	The Contractor shall order and perform the works set out in Appendix B in the Current
Project in accordance with the timetable set out in Appendix D.
	 
	5.	 	The Contractor shall supply the materials, parts and devices set out in Appendix C
under the Current Project.
	 
	6.	 	The areas included in the Current Project shall be marked on a sketch to be attached to this
document of principles as Appendix E.
	 
	7.	 	Consideration:

	 	7.1.	 	In consideration for performance of the Current Project (i.e., all of the works
set out in this document of principles — sections 1-6 above), the Customer shall pay
the Contractor final and total consideration in New Israeli Shekels in the equivalent of
the sum of $8,000,000, in accordance with completion of the following milestones:

	 	7.1.1.	 	$2,000,000 shall be paid to the Contractor as a down payment on the date of
execution of this document of principles;
	 
	 	7.1.2.	 	$400,000 shall be paid upon completion of the initial design, and approval of
it by the Customer;
	 
	 	7.1.3.	 	$500,000 shall be paid after 90% of the design review has been completed and
approved by the Customer;
	 
	 	7.1.4.	 	$800,000 shall be paid when the panels of the clean rooms arrive on site;
	 
	 	7.1.5.	 	$800,000 shall be paid when the air conditioning units for the clean rooms
arrive on site;
	 
	 	7.1.6.	 	$800,000 shall be paid upon mechanical completion of the clean rooms — i.e.,
construction of the clean rooms, assembly of the FFUs, light fittings, flooring
and paneling, installation of air conditioning units and other installations
such that it shall be possible to operate the clean rooms on demand.
	 
	 	7.1.7.	 	$600,000 shall be paid after completion of mechanical construction of the
laboratory, i.e., completion of construction of the structure of the laboratory
and preparation of it for installation of furniture (including walls, floor,
air conditioning, electricity, plumbing, etc., except for equipment);
	 
	 	7.1.8.	 	$1,000,000 shall be paid at the end of installation of all laboratory
equipment within the laboratory so that it shall be possible to commence
working in the laboratory immediately;
	 
	 	7.1.9.	 	$600,000 shall be paid after the containers arrive on site;
	 
	 	7.1.10.	 	$500,000 shall be paid upon execution of an agreement between the Contractor
and the manufacture of the filling machines (subject to an agreement that shall
be signed with the machine manufacturer).

 

 - 3 - 

	8.	 	Guarantee:
	 
	 	 	In assurance of the performance of all of its undertakings under this Contract, on the date
of execution of this Contract, and in return for payment of the down payment (the first
installment as set out in section 7.1.1), the Contractor shall deposit an autonomous
dollar-linked bank guarantee in the New Israeli Shekel equivalent of the sum of $1,000,000
(one million dollars) in the form attached to the Original Agreement as Appendix L1
(hereinafter: the “Autonomous Guarantee”), and sections 27, 28 and 29 of the Original
Agreement shall also apply to this document of principles, mutatis mutandis. For the
avoidance of doubt, it is hereby clarified that those provisions of the Original Agreement
related to the possibility of exercising the bank guarantee and the method of exercise of it
shall also apply to this document of principles, mutatis mutandis. In the event of a
fundamental breach of this document of principles, the Customer may, pursuant to the
conditions of the Original Agreement, exercise the Autonomous Guarantee.

	9.	 	General Provisions:

	 	9.1.	 	Should the Parties to this amendment decide to expand the Current Project
(hereinafter: the “Future Project”) and should an agreement be reached regarding the
price, timetable, and other relevant conditions of the Future Proect, the Future Project
shall be performed under the conditions of the Original Agreement and in accordance with
the principles thereof (including the type nature and scope of securities), which shall
be re-executed for the purpose of performance of the Future Project, mutatis mutandis
only, together with all of the appropriate technical appendixes.
	 
	 	9.2.	 	For the avoidance of doubt, it is hereby clarified that all of the products of
the Current Project shall belong to the Customer only, subject to payment of the full
consideration as set out in section 7 above.
	 
	 	9.3.	 	The provisions of this amendment shall not require the customer to order the rest
of the work required to complete the Future Project from the Contractor. If no
agreement is reached by the Parties with respect to performance of the Future Project,
the Customer shall be entitled to contact a third party to perform the Future Project,
on the basis of the products of the work done by the Contractor in accordance with this
amendment, and the Contractor shall have no claims against the Customer and/or such
third party in respect thereof. Without derogating from the aforesaid, the Contractor
undertakes to keep skilled and professional manpower in order to enable performance of
the works to complete the Future Project within a reasonable and acceptable timetable.
The Contractor shall be released from this undertaking if the Parties do not reach an
agreement regarding the performance of the Future Project by the contractor within 4
months after completion of the Future Project.
	 
	 	9.4.	 	For the avoidance of doubt, it is hereby clarified that a fundamental breach of
the Original Agreement by the Contractor shall be deemed to also be a breach of this
document of principles, which shall enable the Customer to rescind this document of
principles (subject to rescission of the Original Agreement).

 

 - 4 - 

	 	9.5.	 	For the avoidance of doubt, it is hereby clarified that the Customer’s right to
rescind this document of principles, should such right arise, due to breach of this
document of principles, shall not be dependent upon the Original Agreement, and shall
not require rescission of the Original Agreement.

In witness whereof, the Parties have hereunto set their hands:

	 	 	 
	/s/ Nissim Mashiach
	 	/s/ Eric Shem Tov
	 
	 	 
	Omrix Biopharmaceuticals Ltd.
	 	S&A Design and Construction Ltd.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}]]