Document:

EXHIBIT 10.1

                        RECKSON ASSOCIATES REALTY CORP.
                                  EXHIBIT 10.1

                            INDEMNIFICATION AGREEMENT
                            -------------------------

This Agreement, made and entered into as of the 23rd day of May, 2002 (the
"Agreement"), by and between Reckson Associates Realty Corp., a Maryland
corporation (the "Company"), and Donald J. Rechler ("Indemnitee").

WHEREAS, at the request of the Company, Indemnitee currently serves as a
director and executive officer of the Company and may, therefore, be subjected
to claims, suits or proceedings arising as a result of his service; and

WHEREAS, Section 2-418 of the Maryland General Corporation Law (the "MGCL") sets
forth the terms of permitted and required indemnification of, and advancement of
expenses to, directors and officers of a Maryland corporation;

WHEREAS, as an inducement to Indemnitee to continue to serve as such director
and executive officer, the Company has agreed to indemnify Indemnitee against
expenses and costs incurred by Indemnitee in connection with any such claims,
suits or proceedings, to the fullest extent that is lawful; and

WHEREAS, the parties by this Agreement desire to set forth their agreement
regarding indemnification;

NOW, THEREFORE, in consideration of the premises and the covenants contained
herein, the Company and Indemnitee do hereby covenant and agree as follows:

1.  Acts or Omissions Covered by This Agreement.
    -------------------------------------------

This Agreement shall cover any act or omission by Indemnitee after the date of
his commencement of service as a director and executive officer, regardless of
whether said act or omission occurred prior to the date of this Agreement, which
(i) occurs or is alleged to have occurred by reason of his being or having been
a director and/or executive officer (ii) occurs or is alleged to have occurred,
during or after the time when Indemnitee served as a director and/or executive
officer and (iii) gives rise to, or is the direct or indirect subject of a claim
in any threatened, pending or completed action, suit or proceeding at any time
or times whether during or after his service as a director and/or executive
officer.

2.  Indemnity.
    ---------

(a) The Company shall indemnify the Indemnitee to the fullest lawful extent
permitted by Maryland law (including, without limitation, indemnification
permitted under Section 2-418(g) of the MGCL), as amended from time to time, in
connection with any threatened, pending or completed action, suit or proceeding,
whether civil, criminal, administrative or investigative (a "Proceeding"), by
reason of the fact that he is or was a director and/or executive officer of the
Company or is or was serving at the request of the Company as a director,
trustee, officer, partner, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise and whether or not such
action is by or in the right of the Company or that other corporation,
partnership, joint venture, trust or other enterprise with respect to which the
Indemnitee serves or has served.

(b) Notwithstanding anything to the contrary in subsection (a), the Company
shall indemnify Indemnitee in a Proceeding initiated by Indemnitee only if
Indemnitee acted with the authorization of the Company in initiating that
proceeding. However, any proceeding brought by the Indemnitee to enforce his
rights under this Agreement shall not be subject to this subsection (b).

(c) An indemnification under this Agreement shall be made upon Indemnitee's
written request to the Board of Directors of the Company (the "Board of
Directors"), setting forth the grounds and lawfulness of such indemnification.
For purposes of this Agreement, references to "other enterprises" shall include,
without limitation, employee benefit plans; references to "fines" shall include
any excise taxes assessed on a person with respect to an employee benefit plan;
and references to "serving at the request of the Company" shall include any
service as a trustee, director, officer, employee or agent of any other
partnership, trust or corporation which imposes duties on, or involves services
by, Indemnitee which are requested in writing by the Board of Directors, or
which involve services by such trustee, director, officer, employee or agent
with respect to an employee benefit plan, its participants or beneficiaries.

<PAGE>

                            INDEMNIFICATION AGREEMENT

3.  Burden of Proof.
    ---------------

Indemnitee shall be presumed to be entitled to indemnification for any act or
omission covered in Section 1 or 2 of this Agreement. The burden of proof of
establishing that Indemnitee is not entitled to indemnification because of the
failure to fulfill some requirement of Maryland law, the charter of the Company,
or bylaws as in effect from time to time or this Agreement shall be on the
Company.

4.  Notice by Indemnitee.
    --------------------

Indemnitee shall notify the Company in writing of any matter with respect to
which Indemnitee intends to seek indemnification hereunder as soon as reasonably
practicable following the receipt by Indemnitee of written threat thereof,
provided that failure to so notify the Company shall not constitute a waiver by
Indemnitee of his rights hereunder.

5.  Advancement of Expenses.
    -----------------------

In the event of any Proceeding involving Indemnitee which may give rise to a
right of indemnification from the Company pursuant to this Agreement, the
Company shall advance to Indemnitee amounts to cover expenses (including fees
and disbursements of counsel) incurred by Indemnitee in connection with any
Proceeding in advance of final disposition within one business day after receipt
by the Company of (i) an undertaking by or on behalf of the Indemnitee to repay
the amount advanced in the event that it shall be ultimately determined in
accordance with this Agreement that he is not entitled to indemnification by the
Company, (ii) a written affirmation by the Indemnitee of his good faith belief
that the standard of conduct necessary for indemnification by the Company has
been met and (iii) satisfactory evidence as to the amount of such expenses.
Indemnitee's written certification together with a copy of the statement paid or
to be paid by Indemnitee shall constitute satisfactory evidence of the amount of
such expenses.

6.  Defense of Claim.
    ----------------

The Indemnitee shall have the absolute right to employ his own counsel in
respect of any Proceeding; provided, that in the event that more than one
director or executive officer is entitled to indemnification under this
Agreement or a similar agreement arising out of the same Proceeding, all such
directors and/or executive officers, including Indemnitee, shall, to the extent
practicable, endeavor to use the same counsel; and further provided that the
counsel selected by the Indemnitee would not be precluded as a matter of
professional ethics from representing the Company or a person adverse to the
Company.

7.  Non-Exclusivity of Right of Indemnification.
    -------------------------------------------

The indemnification rights granted to Indemnitee under this Agreement shall not
be deemed exclusive of, or in limitation of, any rights to which Indemnitee may
be entitled under Maryland law, the charter of the Company, or bylaws, any other
agreement, vote of stockholders or directors or otherwise.

8.  Term of Agreement and Survival of Right of Indemnification.
    ----------------------------------------------------------

(a) Subject to subparagraph (b) of this section, the term of this Agreement
shall continue for as long as the Indemnitee serves as a director and/or an
executive officer of the Company.

(b) The rights granted to Indemnitee hereunder shall continue after termination
as provided in Section 1 and shall inure to the benefit of Indemnitee, his
personal representative, heirs, executors, administrators and beneficiaries, and
this Agreement shall be binding upon the Company, its successors and assigns.

9.  Legal Fees and Expenses.
    -----------------------

The Company shall pay all legal fees and expenses which Indemnitee may incur to
collect money due under this Agreement or as a result of the Company's
contesting the validity or enforceability of this Agreement.

                                       2
<PAGE>

10.  Governing Law.
     -------------

This Agreement shall be governed by the laws of the State of Maryland.

11.  Severability.
     ------------

If any provision of this Agreement is determined to be invalid or unenforceable,
the invalidity or unenforceability shall not affect the validity or
enforceability of any other provision of this Agreement, and this Agreement
shall be interpreted as though the invalid or unenforceable provision was not a
part of this Agreement.

12.  Changes in Law.
     --------------

This Agreement is intended to provide to Indemnitee, to the fullest lawful
extent permitted by Maryland law as in effect from time to time, indemnification
and advancement of expenses in connection with a Proceeding as described in
Sections 2 and 5 hereof; provided, however, that no change in Maryland law shall
have the effect of reducing the benefits available to Indemnitee hereunder based
on Maryland law as in effect on the date hereof.

The parties have executed this Agreement as of the day and year first above
stated.

                                            RECKSON ASSOCIATES REALTY CORP.

                                            By /s/ Scott H. Rechler
                                               ---------------------------------
                                               Name: Scott H. Rechler
                                               Title: Co-Chief Executive Officer

                                               INDEMNITEE

                                            By /s/ Donald J. Rechler
                                               ---------------------------------
                                               Name: Donald J. Rechler

                                       309302002 Form 10-Q Exhibit

FIRST AMENDMENT TO OFFICE LEASE AGREEMENT

THIS FIRST AMENDMENT TO OFFICE LEASE AGREEMENT (this
"Amendment") is executed as of December 21, 2001, by and between
WEO-CONCAR, LLC, a California limited liability company, formerly known as
Office Opportunity Associates, LLC, a California limited liability company
("Landlord"), and SIEBEL SYSTEMS, INC., a Delaware corporation
("Tenant").

Recitals

    
	Landlord and Tenant are parties to that certain Office Lease Agreement,
    dated as of September 14, 2000, as modified by that certain letter agreement
    dated March 8, 2001 (as so modified, the "Original Lease"). Pursuant
    to the Original Lease, Landlord has agreed to construct the Project and
    Tenant has agreed to lease from Landlord all of the rentable square feet of
    office space in the Project. The Project is expected to consist of two
    office buildings of approximately 217,018 total rentable square feet, a
    retail building of approximately 2,200 rentable square feet that will be for
    retail use for another tenant(s), and a parking garage. The foregoing shall
    not limit or modify the provisions of Section II of the Lease providing
    for remeasurement of the Premises and Buildings upon completion of the
    Building Shells. Capitalized terms not defined in this Amendment shall have
    the meanings given them in the Original Lease. As used in this Amendment,
    "Lease" shall mean the Original Lease, as amended by this Amendment.
    

    

    
	As part of the Original Lease, Tenant approved a set of Building Shell
    specifications set forth in Exhibit D-2 thereof. Landlord previously has
    exchanged with Tenant various draft construction drawings for the Building
    Shell for Tenant's review and to allow Tenant to begin to prepare the Space
    Plans, and thereafter has sent Tenant final construction documents for the
    Building Shell ("Building Shell CD's"). Landlord also has obtained
    the required building permits for construction of the Building Shell from
    the City of San Mateo ("City"). Landlord has hired Webcor
    Construction, Inc., dba Webcor Builders ("Webcor") as the general
    contractor for the Building Shell, and as of the Effective Date, Webcor has
    commenced construction of the parking structure and the Buildings.
    

    

    
	In the process of reviewing the draft Building Shell CD's, Tenant
    determined that there are certain changes and additions to the Building
    Shell that Tenant would like to have incorporated therein. Landlord is
    willing to accommodate Tenant's desires to incorporate such changes, subject
    to the terms and conditions of this Amendment.
    

    

    
	Landlord and Tenant desire to amend the Original Lease (i) to make
    certain changes and additions to the Building Shell and any changes to the
    Tenant Improvements resulting therefrom, (ii) to set forth Tenant's
    obligations to pay agreed upon costs in connection with such changes and
    additions, and (iii) to otherwise provide for all impacts that such changes
    and additions may have on the Original Lease and the economic terms thereof,
    all upon and subject to the terms and conditions set forth in this
Amendment.
    

NOW THEREFORE, in consideration of, and incorporating, the
foregoing recitals and the mutual agreements of the parties herein, Landlord and
Tenant hereby agree as follows:

    
    
	Changes and Additions to Building Shell.
    

    

      

	Tenant hereby requests Landlord make and incorporate those changes and
      additions to the Building Shell which are set forth in Attachment A
      hereto ("Building Shell Changes"), which Building Shell Changes
      Landlord hereby approves and agrees to incorporate into the Buildings
      pursuant to the provisions of this Amendment. The costs to be charged to
      Tenant in connection with such Building Shell Changes shall be the
      Estimated Costs set forth on Attachment A ("Tenant's Shell
      Costs"), together with reasonable design and architectural fees
      incurred by Landlord in connection with the Building Shell Changes, which
      fees have been approved by Tenant, which approval shall not be
      unreasonably withheld ("Design Costs"). In addition to Tenant's
      Shell Costs and Design Costs, Tenant shall pay to Landlord a development
      and construction management fee ("Landlord's Overhead") equal to
      five percent (5%) of Tenant's Shell Costs.
      

      

      
	Tenant acknowledges that the Building Shell Changes do not constitute
      and are not being sought as Warm Shell Construction Item changes to the
      Building Shell pursuant to Section 9 of Exhibit D
      (Construction Rider) to the Original Lease. Tenant acknowledges that the
      date for exercising its rights for the Warm Shell Construction Items under
      said Section 9 has passed and Tenant hereby waives and releases all
      its rights under said Section 9.
      

      

      
	Landlord and Tenant acknowledge and agree that no Tenant Delay shall
      be deemed to have occurred as a result of the Building Shell Changes,
      including as a result of any preparation or modification of building plans
      and drawings, cost estimates, construction contracts or change orders, or
      as a result of Landlord's construction of such Building Shell Changes.
      

    

    	Application of the Tenant Improvement Allowance to Tenant's Shell
    Costs. Landlord agrees to pay for the costs of constructing the Building
    Shell Changes, and for the Design Costs and Landlord's Overhead, as an
    offset against the Tenant Improvement Allowance, and that therefore the
    Tenant Improvement Allowance will be reduced by Tenant's Shell Costs, the
    Design Costs and Landlord's Overhead.
    

    

    
	Required Removables. Landlord has indicated on Attachment A
    which of the Building Shell Changes will need to be removed upon the
    expiration or earlier termination of the Lease, and therefore, same shall
    constitute Required Removables under the Lease. Landlord's approval of any
    Changes to the Tenant Improvements resulting from Building Shell Changes may
    be conditioned upon Tenant's agreement to remove any particular items
    thereof which are expressly so identified by Landlord as a Required
    Removable at the time Landlord finally and formally approves such Change.
    All such Required Removables shall be removed and the Property restored in
    connection with said removal, in the same manner as required of Tenant with
    respect to all other Required Removables pursuant to all applicable
    provisions of the Lease, including, without limitation, Sections VIII and
    XXX of the Original Lease. Notwithstanding the foregoing, although
    Attachment A indicates that the Building Shell Changes listed as items 56,
    61, 64, 100 and 101 are Required Removables, Tenant will not be required to
    remove any below-grade piping or conduit that are part of such items, but
    shall be required to remove all above grade-elements, such as piping,
    conduit and fixtures and to cap any piping or conduit flush with slabs or
    ground surface.
    

    

    
	Base Rent During Pre-Term Period. Tenant agrees to pay to Landlord
    Base Rent for each floor of the Premises for which the Rent Commencement
    Date has occurred from the Rent Commencement Date therefor until the
    Commencement Date of the Lease at the same rate per rentable square foot of
    the Premises as is applicable to the Premises for Months 1-12 as set forth
    in the Basic Lease Information.
    

    

    
	Letter of Credit.
    

    

      

	Tenant has previously delivered to Landlord the sum of One Million One
      Hundred Ninety-Nine Thousand Two Hundred and Fifty Dollars
      ($1,199,250.00), which represents the estimated first month's Base Rent.
      Concurrently with its execution of this Amendment, Tenant shall deliver to
      Landlord a clean, unconditional, irrevocable, transferable standby letter
      of credit (the "Letter of Credit"), naming Landlord as beneficiary,
      in the form of Attachment B to this Amendment, and issued by a
      financial institution, satisfactory to Landlord. The amount available to
      be drawn under the Letter of Credit shall be One Million One Hundred
      Ninety-Nine Thousand Two Hundred and Fifty Dollars ($1,199,250.00).
      Provided that Tenant has delivered the Letter of Credit to Landlord,
      Landlord shall return to Tenant, within five (5) days after the execution
      of this Amendment, the full amount of the Prepaid Rent, as defined in
      Section I.H of the Basic Lease Information.
      

      

      
	Landlord shall hold the Letter of Credit in support of Tenant's
      obligations under the Lease, including damages that may accrue after a
      termination of the Lease under California Civil Code Section 1951.2.
      Tenant expressly waives the provisions of California Civil Code Section
      1950.7 with respect to the Letter of Credit. Landlord shall be entitled to
      draw any portion or the entire amount under the Letter of Credit upon
      notice that the Letter of Credit will not be renewed or will be terminated
      or upon default by Tenant, provided that Landlord shall not be obligated
      to give Tenant notice or opportunity to cure prior to drawing on the
      Letter of Credit. Landlord may apply such amounts drawn to satisfy
      Tenant's obligations under the Lease (in such order as Landlord may
      elect). The Letter of Credit shall provide for partial draws by Landlord.
      To the extent the Letter of Credit or the amounts drawn thereunder have
      not been previously applied against Tenant's other obligations under the
      Lease, Landlord shall be entitled to make draws from the Letter of Credit
      and apply it against the Base Rent as it comes due, provided, however,
      that if Tenant pays all such Base Rent in cash at or before the time such
      Base Rent comes due, Landlord shall return the Letter of Credit (including
      any unapplied amounts drawn against the Letter of Credit by Landlord) to
      Tenant, together with such instructions and documentation as the issuer of
      the Letter of Credit may require to cancel the same, within five (5) days
      after the first date on which Landlord has received payments of Base Rent
      from Tenant (exclusive of any Base Rent paid during the
      period described in Paragraph 4) in the aggregate amount of at least
      One Million One Hundred Ninety-Nine Thousand Two Hundred and Fifty Dollars
      ($1,199,250.00).
      

      

      
	Tenant shall not assign or encumber or attempt to assign or encumber
      the Letter of Credit and neither Landlord nor its successors or assigns
      shall be bound by any such assignment or encumbrance or attempted
      assignment or encumbrance.
      

      

      
	In the event of a financing, sale or other transfer of the Building,
      Tenant, if requested by Landlord in writing, at its sole cost and expense
      within ten (10) Business Days after receiving such request, will cause the
      issuing bank of the Letter of Credit to consent to the assignment or to
      issue a substitute letter of credit on identical terms to the Letter of
      Credit, other than the stated beneficiary, from the same issuing bank or,
      if the lender or transferee so requests, from another bank acceptable to
      such lender or transferee in its reasonable discretion, naming such lender
      or transferee as the beneficiary thereof, upon delivery by Landlord of the
      then outstanding Letter of Credit.
      

    

    	Entire Agreement. All attachments, exhibits and addenda attached
    hereto are incorporated into this Amendment. This Amendment, together with
    the Original Lease, contains the entire agreement of the parties hereto with
    respect to the subject matter hereof and may not be changed or terminated
    orally or by course of conduct.
    

    

    
	Counterparts. This Amendment may be executed in counterparts, each
    of which shall be deemed an original as against the party whose signature is
    affixed thereto, and all of which together shall constitute but one and the
    same agreement.
    

    

    
	Reaffirmation of Lease. Except as specifically set forth in this
    Amendment, the Original Lease remains unchanged and, as modified by this
    Amendment, is in full force and effect. This Amendment shall be binding upon
    and inure to the benefit to the parties and their respective successors and
    assigns. All references in the Original Lease to "this Lease" shall mean the
    Original Lease as amended by this Amendment.
    

    IN WITNESS WHEREOF, Landlord and Tenant have entered
    into and executed this Amendment as of the Effective Date.

	
        LANDLORD:

        WEO - CONCAR, LLC,
a California limited
        liability company

        

         

        By: /s/ Thomas P. Sullivan 
Name: Thomas P.
        Sullivan
Title: Manager
	
        TENANT:

        SIEBEL SYSTEMS, INC.,
a Delaware corporation

         

        By: /s/ Jeffrey T. Amann 
Name: Jeffrey T.
        Amann
Title: Vice President, Legal
  Affairs

  

  

  

   

   

  ATTACHMENT A

  BUILDING SHELL CHANGES

  [SEE ATTACHED]

   

  

  

  	
        Exhibit A to Second Amendment to Office Lease
        Agreement
	
         
	
         
	
         

	
        Log
	
         
	
         
	
         
	
         
	
         
	
        Required

	
        Number
	
        Date
	
        Description
	
        Comments
	
        Costs
	
        Subcontractor
	
        Removable

	
         
	
         
	
         
	
         
	
         
	
         
	
         

	
         
	
         
	
         
	
         
	
         
	
        
	
        

	
        61
	
        04/03/01
	
        additional parking drains
	
        Due to the daycare play yard intruding into the parking lot,
        additional parking drains will be required on the garage
      deck.
	
        $20,000 
	
        Therma
	
        yes

	
        64
	
        04/03/01
	
        outdoor drinking fountain
	
        New outdoor drinking fountains are planned within the daycare play
        yard. Includes stub to fountain location. Fountains to be
      TI.
	
        $3,500 
	
        Therma
	
        yes

	
        65
	
        04/03/01
	
        outdoor hose bib
	
        New outdoor hose bib is planned within the daycare play yard.
        Includes piping and fixture.
	
        $1,500 
	
        Therma
	
        Yes

	
        67
	
        04/03/01
	
        play equipment bolting
	
        The daycare play equipment will require structural embeds within the
        parking slab to accommodate their support.
	
        $5,000 
	
        Webcor/Romek
	
        yes

	
        82a
	
        05/04/01
	
        revised daycare play area
	
        The structural review of the daycare play area, required an
        additional 15 psf load be added. Cost of Design/Build structural
        fee
	
        $2,000 
	
        Nishkian/Dean
	
        No

	
        83
	
        05/04/01
	
        revised daycare play area
	
        The structural review of the daycare play area, required additional
        slab reinforcing to meet the governing code requirements.
	
        $6,500 
	
        Webcor Concrete
	
        No

	
        84
	
        05/04/01
	
        revised daycare play area
	
        The structural review of the daycare play area required 6 additional
        piles to be added to accommodate the updated loads. Includes $850
        contingency for obstructions.
	
        $7,246 
	
        Foundation Constructors/ Webcor
	
        No

	
        85
	
        05/04/01
	
        revised daycare play area
	
        The structural review of the daycare play area shows there is an
        additional load impact to the respective precast concrete
        beams.
	
        $7,600 
	
        Confab
	
        No

	
        87
	
        05/04/01
	
        generator enclosure
	
        The new below grade Siebel emergency generator vault requires the
        addition of 6 concrete piles for the foundation support. Includes $850
        for obstructions.
	
        $7,246 
	
        Foundation Constructors/ Webcor
	
        No

	
        88a
	
        05/04/01
	
        enclosure slab & wp
	
        The new below grade Siebel emergency generator vault requires adding
        approximately 1008 square feet of 1.25' thick slab on grade. Includes
        $12,287 conc. Plus $3,686 rebar.
	
        $15,973 
	
        Webcor Concrete Regional Steel
	
        No

	
        88b
	
        05/04/01
	
        enclosure walls & wp
	
        The new below grade Siebel emergency generator vault requires adding
        92 linear feet of 10" thick cast in place wall or cmu. Includes $54,791
        conc. Plus $16,000 rebar.
	
        $70,791 
	
        Webcor Concrete Regional Steel
	
        No

	
        88c
	
        05/04/01
	
        enclosure shore & excavate
	
        The new below grade Siebel emergency generator vault requires shoring
        in order to be built adjacent to the planned Building 1. Includes $1,500
        for piling cutoff (Webcor).
	
        $40,000 
	
        Foundation Constructors/ Webcor
	
        No

	
        88d
	
        05/04/01
	
        enclosure spoils dispose
	
        The new below grade Siebel emergency generator vault requires off
        haul of soils (clean). 439 cy at $22.50/cy.
	
        $9,878 
	
        Peak
	
        No

	
        89
	
        05/04/01
	
        generator enclosure
	
        The new below grade Siebel emergency generator vault requires the
        addition of (6) W12 x 26 x 20' galvanized beams
	
        $33,266 
	
        Romek
	
        No

	
        90a
	
        05/04/01
	
        generator enclosure
	
        The new below grade Siebel emergency generator vault requires an
        additional 1,200 square feet of 1 1/2" galvanized bar
      grating.
	
        incl. Above
	
        Romek
	
        No

	
        90b
	
         
	
        added exterior galv door
	
        The modified enclosure for the enlarged transformer required an
        additional exterior galvanized door which was not necessary
        before.
	
        $2,500 
	
        Romek
	
        No

	
        41
	
        03/13/01
	
        enlarge trash enclosure
	
        Based on the revised Siebel demands, namely the cafeteria, the trash
        enclosure was required to be enlarged and the access point
        revised.
	
        $10,000 
	
        Webcor Concrete
	
        No

	
        97
	
        05/30/01
	
        revised access to loading dock 
	
        The current kitchen layout requires exterior service access. Add door
        1112B.
	
        $3,500 
	
        Architectural Glass
	
        No

	
        5
	
        11/29/00
	
        re-size electrical room
	
        The Siebel upgraded electrical requirements required the electrical
        rooms to be re-sized for both buildings 1 and 2. Cost for Design/Build
        fee.
	
        $2,000 
	
        Schwartz & Lindheim
	
        No

	
        13
	
        01/11/01
	
        increase main switch boards
	
        S&L bid draft tabulation estimate of additional cost for the
        Siebel requested increase to the main switchboards.
	
        $38,716 
	
        Schwartz & Lindheim
	
        No

	
        14
	
        01/11/01
	
        telecom interconnect conduits
	
        S&L bid draft tabulation estimate of additional cost for the
        Siebel requested increase to the telecom interconnect conduits. Includes
        trench $4250 (Webcor)
	
        $48,252 
	
        Schwartz & Lindheim Webcor
	
        No

	
        15
	
        01/11/01
	
        telecom conduits from prop line
	
        S&L bid draft tabulation estimate of additional cost for the
        Siebel requested increase to the telecom conduits to the property line.
        Includes trench $4250 (Webcor)
	
        $30,399 
	
        Schwartz & Lindheim Webcor
	
        No

	
        3
	
        11/29/00
	
        cafe ́ duct shaft
	
        Cafe ́ duct shaft, penetrations only. Two shfts, 8'-3" X 6'-6" and
        3'-0" X 4'-0". Duct to be TI.
	
        $7,500 
	
        Gale Steel
	
        Yes

	
        35
	
        03/07/01
	
        revise the height of penthouse
	
        Penthouse screen height increased by 1'-0" to screen increased height
        of cooling tower mandated by Siebel requirements. Previous height set by
        elevator penthouse. $22 sf X 773 sf
	
        $17,006 
	
        Metal panel subcontractor TBD
	
        No

	
        45
	
        03/22/01
	
        enlarged penthouse footprint
	
        The Siebel requested changes to mechanical system necessitate a
        larger penthouse footprint. Increase of 1500 sf per penthouse at
        $12/sf.
	
        $36,000 
	
        Gale, Webcor
	
        No

	
        78
	
        05/04/01
	
        vent the washer/dryer
	
        The Siebel fitness area on the second floor of Building 1 will
        require a vent for washer/dryer. Cost is for penetrations. Vent and duct
        to be TI.
	
        $1,000 
	
        Webcor
	
        Yes

	
        94
	
        05/17/01
	
        boiler and water heater on roof
	
        Structural reinforcement for increased water heater on in rooftop
        penthouse. 
	
        $7,500 
	
        Webcor
	
        No

	
        96
	
        05/17/01
	
        grease exhaust in penthouse
	
        The Siebel cafe ́ on the ground floor of Building 1 will require a
        grease exhaust whose costs will be divided between core and shell and
        TI.
	
        TI
	
         
	
        Yes

	
        80
	
        05/04/01
	
        lab loading of 5,300 lbs.
	
        The Siebel planned lab rooms will require a loading of 5,300 pounds
        which will have to be specifically accommodated in the overall
        structure.
	
        $10,600 
	
        Gale
	
        No

	
        26
	
        02/21/01
	
        cafe ́ access to exterior
	
        The Siebel cafe ́ requires addition of exterior door
      #1109A.
	
        $5,500 
	
        Architectural Glass
	
        Yes

	
        56
	
        04/01/01
	
        cafe ́ grease interceptor
	
        The cafe ́ on the ground floor of Building 1 will require a grease
        interceptor. Cost includes drain line below slab stubbed to location
        near future grease interceptor.
	
        $7,000 
	
        Therma, MJB
	
        Yes

	
        47
	
        04/01/01
	
        revise exiting layout- daycare
	
        The Siebel childcare on the ground floor of Building 2 requires
        addition of exterior door #2107A.
	
        $3,500 
	
        Architectural Glass
	
        Yes

	
        49
	
        04/01/01
	
        bathroom reconfiguration
	
        The Siebel childcare on the ground floor of Building 2 requires
        substantial addition of plumbing for additional and reconfigured
        toilets. Cost for waste upgrades and trenching ($7,800).
	
        $32,661 
	
        Therma, Webcor
	
        No

	
        91
	
        05/09/01
	
        security hardware
	
        Siebel security design requires empty conduit in ground floor slab.
        
	
        $3,000 
	
        Schwartz & Lindheim
	
        No

	
        100
	
         
	
        bldg 1 plumbing upgrades
	
        Due to space constraints and the larger Siebel design load from
        childcare and fitness. Cost for upgrades to plumbing and hot water
        system. (portion of item formerly labeled "Therma 1")
	
        $30,480 
	
        Therma
	
        Yes

	
        101
	
         
	
        bldg 2 plumbing upgrades
	
        Due to space constraints and the larger Siebel design load from cafe ́.
        Cost for upgrades to plumbing and hot water system. (Portion of item
        formerly labeled "Therma 1")
	
        $32,619 
	
        Therma
	
        Yes

	
        102
	
         
	
        booster pump upgrade 
	
        Due to the larger Siebel design load from the daycare and cafe ́ an
        upgrade was necessary for the overall size and configuration of the
        booster pump.
	
        $15,465 
	
        Therma
	
        No

	
        103
	
         
	
        bldg 1 waste upgrades
	
        Cafe ́ in bldg 1 requires substantial upgrade to waste piping in slab.
        Cost for waste upgrades and trenching
	
        $118,799 
	
        Therma
	
        No

	
        104
	
         
	
        upgrade cooling tower
	
        Cooling tower upgrade due to increased loads. Both
        buildings.
	
        $35,200 
	
        CMI
	
        No

	
        105
	
         
	
        relocate fire pump room in building 2
	
        Childcare requirements forced relocation of fire pump room. Cost
        includes 140 ln ft 6" piping plus design/build engineering ($2,240).
        Design change reduced prior cost.
	
        $5,940 
	
        Golden Bear
	
        No

	
        106
	
         
	
        electrical service to domestic booster pumps.
	
        electrical service to domestic water booster pumps.
	
        $11,596 
	
        Schwartz & Lindheim 
	
        No

	
        107
	
         
	
        sprinkler increase in bldg 2, rooms 102/109.
	
        Siebel-related revisions increase sprinkler head
      density.
	
        $1,050 
	
        Golden Bear
	
        No

	
        108
	
         
	
        penthouse equipment revisions
	
        Design/build fees for Siebel mandated changes in mechanical equipment
        layout in penthouses.
	
        $5,000 
	
        Schwartz & Lindheim 
	
        No

	
        109
	
         
	
        penthouse ventilation
	
        add sidewall draft fans to penthouses to provide for ventilation to
        domestic water boilers.
	
        $6,400 
	
        CMI
	
        No

	
        
	
        
	
        
	
        
	
         
	
        
	
        

	
        Subtotal of Line Items
	
        
	
        
	
        $759,683 
	
        
	
        

	
        General contractor fee, liability ins. And subguard bond
        (4.38%)
	
        $33,274 
	
        
	
        

	
        General contractor allocation of general conditions
(4%)
	
        
	
        $30,387 
	
        
	
        

	
        Developer project management fee (5%)
	
        
	
        $37,984 
	
        
	
        

	
        
	
        
	
        
	
        
	
         
	
        
	
        

	
        Total
	
        
	
        
	
        
	
        $861,329 
	
        
	
        

  

  

  

 

  ATTCHEMENT B

  

  FORM LETTER OF CREDIT

  

  [SEE ATTACHED]

  

  

  

  Date: _________________
IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER:
  _______________

  BENEFICIARY:
WEO-CONCAR, LLC, a California Limited liability
  company
199 First Street
San Francisco, CA 94105
Attn: Robert A.
  Paratte

  APPLICANT:
Siebel Systems, Inc.
2207 Bridgepointe Parkway
San
  Mateo, CA 94404

  AMOUNT: US$ 1,199,250.00
Currency: USD 

  Not exceeding One Million One Hundred Ninety Nine
Thousand Two
  Hundred and Fifty Dollars and no cent.

  EXPIRATION: November 16, 2002
AT OUR COUNTERS

  We hereby issue our irrevocable standby letter of credit ("Letter of
  Credit") in your favor, for the account of Siebel Systems, Inc., a Delaware
  corporation ("Siebel"), in the amount of One Million One Hundred Ninety Nine
  Thousand Two Hundred and Fifty Dollars and no cent. This letter of credit is
  available by sight payment with ourselves only against presentation to us at
  333 South Beaudry Avenue, 19th Floor, Mail Code CA9-703-19-23, Los
  Angeles, California 90017 Attention: Standby Letter of Credit Department of
  the following documentations:

  Your sight draft drawn on us marked: "Drawn Under Bank of America N.A.,
  Irrevocable Standby Letter of Credit No. ______________, Dated __________
  _____, _______." 

  "IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT IS DEEMED TO BE
  AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONE YEAR FROM THE EXPIRY DATE
  HEREOF, OR ANY FUTURE EXPIRATION DATE, UNLESS AT LEAST 30 DAYS PRIOR TO ANY
  EXPIRATION DATE WE NOTIFY YOU BY REGISTERED MAIL OR OVERNIGHT COURIER SERVICE
  AT THE ABOVE ADDRESS THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT
  RENEWED FOR ANY SUCH ADDITIONAL PERIOD."

  Multiple drawings are permitted. This letter of credit is transferable.
  Transfer of this letter of credit is subject to our receipt of beneficiary's
  instruction in the form attached hereto as Exhibit A accompanied by the
  original letter of credit and amendment(s), if any. Costs or expenses of such
  transfer shall be for the account of the Applicant. 

  We hereby agree with you that drafts drawn under and in compliance with the
  terms of this Letter of Credit will be duly honored upon presentation.

  This Letter of Credit is subject to the International Standby Practices
  1998, ICC Publication No. 590.

  ________________________
Justin R. Dooley
Vice President, Finance and
  Operations

  ________________________
Kenneth A. Goldman
Senior Vice President and
  Chief Financial Officer

  

  

  EXHIBIT A

  REQUEST FOR ENTIRE ABSOLUTE AND IRREVOCABLE TRANSFER
  OF
LETTER OF CREDIT WITHOUT SUBSTITUTION OF INVOICES

  
  	
        _________________________________
NAME

	
          
	
        _________________________, 20_______

	
        _________________________________
ADDRESS
      
	
          
	
        Letter of Credit
    No.____________________

	
        _________________________________
	
          
	
        Issued By
    ________________________

  

  TO: Bank of America, N.A.

  

  We request you to transfer all of our rights as beneficiary
  under the Letter of Credit referenced above to the new beneficiary named
  below:

  

  _________________________________________________________
NAME
  OF NEW BENEFICIARY

  _________________________________________________________
ADDRESS

  

  By this transfer, all our rights as the original beneficiary,
  including all rights to make drawings under the Letter of Credit, go to the
  new beneficiary. The new beneficiary shall have sole rights as beneficiary,
  whether existing now or in the future, including sole rights to agree to any
  amendments, including increases or extensions or other changes. All amendments
  will be sent directly to the new beneficiary without the necessity of consent
  by or notice to us.

  We enclose the original letter of credit and any amendments.
  Please indicate your acceptance of our request for the transfer by endorsing
  the letter of credit and send it to the new beneficiary with your customary
  notice of transfer. 

  The Applicant is responsible for the transfer fee.

  
  	
        The signature and title at the right conform
        with
those shown in our files as authorized to sign for 
the
        beneficiary. Policies governing signature
authorization as required
        for withdrawals from
customer accounts shall also be applied to the
        
authorization of signatures on this
        form.

______________________________________
NAME OF
        BANK

_______________________________________
AUTHORIZED
        SIGNATURE AND TITLE

	
          
	
        

_______________________________________________
NAME
        OF BENEFICIARY

        _______________________________________________
NAME
        OF AUTHORIZED SIGNER AND TITLE

        

        _______________________________________________
AUTHORIZED
        SIGNATURE

  

  

  SECOND AMENDMENT TO OFFICE LEASE AGREEMENT

  

  THIS SECOND AMENDMENT TO OFFICE LEASE AGREEMENT (this
  "Amendment") is executed as of September 25, 2002, by and between
  WEO - CONCAR, LLC, a California limited liability company, formerly known as
  Office Opportunity Associates, LLC, a California limited liability company
  ("Landlord"), and SIEBEL SYSTEMS, INC., a Delaware corporation
  ("Tenant").

  Recitals

  

  

      
	Landlord and Tenant are parties to that certain Office Lease
      Agreement, dated as of September, 2000 (the "Original Lease"), as
      modified by that certain letter agreement dated March 8, 2001, and First
      Amendment to Office Lease Agreement dated December 21, 2001 (the "First
      Amendment"). (The Original Lease as so modified is called the
      "Existing Lease"). Pursuant to the Original Lease, Landlord has
      agreed to construct the Project and Tenant has agreed to lease from
      Landlord all of the rentable square feet of office space in the Project.
      The Project is expected to consist of the following in San Mateo,
      California: an office building ("Building 1") located at 900 Concar
      Drive containing approximately 116,592 rentable square feet, an office
      building ("Building 2") located at 800 Concar Drive, containing
      approximately 100,526 rentable square feet, a retail building of
      approximately 2,200 rentable square feet that will be for retail use for
      another tenant(s), and a parking garage. The foregoing shall not limit or
      modify the provisions of Section II of the Lease providing for
      remeasurement of the Premises and Buildings upon completion of the
      Building Shells. Capitalized terms not defined in this Amendment shall
      have the meanings given them in the Existing Lease. As used in this
      Amendment, "Lease" shall mean the Existing Lease, as amended by
      this Amendment.
      

      

      

      
	Tenant and Landlord wish to amend the Lease, inter alia,
      (i) to provide that Tenant and not Landlord shall be obligated to
      construct the Tenant Improvements, (ii) to change the definition of
      Landlord Work to be performed by Landlord and the completion dates for
      Landlord Work, (iii) to eliminate the Tenant Improvement Allowance,
      (iv) to reduce Base Rent, and (v) to provide certain other
      changes to the Existing Lease, all on the following terms and conditions:
      

  NOW THEREFORE, in consideration of, and incorporating,
  the foregoing recitals and the mutual agreements of the parties herein,
  Landlord and Tenant hereby agree as follows:

  

      
      
	Elimination of Tenant Improvement Allowance. The Tenant
      Improvement Allowance is changed to zero dollars ($0.00).
      

      

      
	Modification of Landlord Work. The term "Landlord Work" shall be
      changed to mean the development, design and construction of the Project
      and Building Shell, but not the Tenant Improvements. The Building Shell
      shall substantially conform with the specifications described in Paragraph
      A of Exhibit D-2 of the Lease except as follows: (i) that portion of
      Item 3.4 thereof described as "perimeter walls taped and sanded,
      ready for tenant finish" (the "Perimeter Tape Work") is hereby eliminated,
      (ii) the ground floor of Building 1 (but not of Building 2) will
      include one men's and women's restroom as described in Item 3.1 of
      Paragraph A of Exhibit D-2 (the "Building 1 Restroom"), and
      (iii) the Building Shell Changes will be incorporated into the
      Building Shell. Landlord shall Substantially Complete the Landlord Work no
      later than December 31, 2002, except to the extent that any delay in such
      Substantial Completion is a result of a Tenant Delay. As provided in the
      second paragraph of Section III.A of the Lease, Landlord Work shall
      be deemed to be "Substantially Complete" on the date that all Landlord
      Work has been substantially performed, other than any details of
      construction, mechanical adjustment or any other similar matter, the
      non-completion of which does not materially interfere with Tenant's use of
      the Premises as certified by Landlord's architect and approved by Tenant
      (such approval not to be unreasonably withheld, conditioned or
      delayed). Notwithstanding the above, Landlord Work may be
      deemed Substantially Complete even if Landlord has not installed the wood
      paneling in the Buildings' lobbies. Landlord shall install such paneling
      as soon as commercially reasonable, subject to Tenant Delay and Force
      Majeure. In the event that installation of such paneling has not been
      completed by December 31, 2002, then Landlord shall endeavor to perform
      any such installation work during 2003 that occurs after Tenant commences
      conducting its business operations within the Buildings during
      non-business hours. If Landlord has not Substantially Completed all
      of the Landlord Work (other than the lobby paneling) on or before December
      31, 2002, neither Landlord nor its representatives shall be liable to
      Tenant for any damage resulting from the delay in completing such
      construction obligations and the Lease shall remain in full force and
      effect; provided however that if the Commencement Date has not occurred or
      been deemed to have occurred by December 1, 2003, then (i) if
      the same is not due to a Tenant Delay, Tenant, by written notice to
      Landlord given within ten (10) days after the expiration of such
      period, may terminate this Lease without any liability to Landlord and
      (ii) and if the same is not due to a delay caused by Landlord, then
      Landlord, by written notice to Tenant given within ten (10) days
      after the expiration of such period, may terminate this Lease without
      liability to Tenant. Notwithstanding the foregoing, Tenant shall have no
      right to terminate this Lease if and to the extent such delay in
      Substantial Completion of the Landlord Work is caused by a Tenant Delay.
      

      

      
	Reimbursement for Tenant's Shell Costs, Design Costs and Landlord's
      Overhead. No later than January 10, 2003, Tenant shall reimburse
      Landlord for the aggregate amount of (i) Design Costs, design and
      architectural costs for the Tenant Improvements and permitting fees for
      the Building Shell Changes ("Accrued Design Costs") incurred through
      December 31, 2002 and (ii) Tenant's Shell Costs and Landlord's
      Overhead. A schedule of said amounts as of the date of this Amendment is
      attached to this Amendment as Exhibit A.
      

      

      
	Payment of the Cost of the Work.  Tenant shall be solely
      responsible for paying the entire Cost of the Work, as defined in the
      Construction Rider to the Lease, and shall reimburse Landlord promptly on
      demand any Cost of the Work which Landlord incurs after the date of this
      Amendment; provided that with respect to any third party costs, Tenant has
      approved such costs or the scope of the work, which approval shall not be
      unreasonably withheld, conditioned or delayed. Tenant shall not be
      required to deposit any shortfall with Landlord, as described in
      Section 2.3 of the Construction Rider.
      

      

      
	Commencement Date.  The parties agree that the Commencement
      Date shall be January 1, 2003, regardless of whether Tenant has then
      completed its Tenant Improvements. The Commencement Date shall be delayed
      only to the extent that Tenant can reasonably demonstrate that Landlord's
      failure to substantially complete Landlord Work, Landlord's failure to
      approve or disapprove plans within the time frames set forth herein, or
      any other failure by Landlord to perform its obligations herein or under
      the Lease causes a delay in Tenant's completion of its Tenant Improvements
      ("Landlord Delay"). Tenant shall provide Landlord with written notice of
      any act or omission which Tenant alleges is a Landlord Delay, and such act
      or omission shall not be deemed to have caused a Landlord Delay if cured
      within ten (10) days after such notice. Neither the delivery of such
      notice, nor Landlord's election to cure or not cure the alleged Landlord
      Delay, shall be deemed an admission by Landlord of a Landlord Delay.
      Notwithstanding any such delay in the Commencement Date, the length of the
      Term shall be as set forth in the Original Lease.
      

      

      
	Base Rent.  The Base Rent set forth in Section I.D
      of the Lease is hereby amended and restated as follows:
      

      D. "Base Rent"

      
      	
            Months 1 - 12
Months 13 - 24
Months 25 -
            36
Months 37 - 48
Months 49 - 60
Months 61 - 72
Months
            73 - 84
Months 85 - 96
Months 97 - 108
Months 109 -
            120
Months 121 - 132
Months 133 - 144
Months 145 -
            156
	
              
	
            $5.63 per rentable square foot per month
$5.83
            per rentable square foot per month
$6.04 per rentable square foot
            per month
$6.26 per rentable square foot per month
$6.49 per
            rentable square foot per month
$6.73 per rentable square foot per
            month
$6.97 per rentable square foot per month
$7.19 per
            rentable square foot per month
$7.41 per rentable square foot per
            month
$7.64 per rentable square foot per month
$7.88 per
            rentable square foot per month
$8.12 per rentable square foot per
            month
$8.37 per rentable square foot per
        month

      

      
	Requirement for Tenant Improvement Build-Out. Tenant will no
      longer be required to use Landlord to construct the Tenant Improvements,
      and Landlord will no longer be obligated to construct the Tenant
      Improvements. Tenant shall engage Venture Builders to construct the Tenant
      Improvements. The Tenant Improvements shall be deemed Alterations under
      Section IX(C) of the Lease, except that Landlord shall not charge a 5% fee
      for Landlord's oversight and coordination in connection with the initial
      Tenant Improvements and no additional security shall be required. The
      parties acknowledge that Landlord has approved Tenant's Space Plans as set
      forth in the letter dated January 4, 2002. No later than September 27,
      2002, Tenant shall submit to Landlord for its approval the Construction
      Documents and the Final Construction Documents for the Tenant Improvements
      as described in Section 2.1.1 of the Construction Rider, and Landlord will
      have 10 business days after receipt of the Construction Documents and 10
      business days after receipt of the Final Construction Documents to give or
      withhold its approval to such submission in accordance with Section 2.1.1.
      Tenant shall also submit to Landlord, for its approval, any changes to the
      Final Construction Documents. Upon execution of this Amendment, Landlord
      shall permit entry onto the Project by Tenant and its contractors to
      construct the Tenant Improvements, subject to the conditions and covenants
      set forth in the letter dated September 19, 2002, a copy of which is
      attached to this Amendment and incorporated by reference herein. All such
      entries shall also be subject to the terms of the Lease, other than the
      payment of Rent which shall commence on the Commencement Date as set forth
      herein. The parties acknowledge that Landlord may be performing some
      Landlord Work while Tenant is constructing its Tenant Improvements, and
      each party agrees to cooperate reasonably with the other party so as not
      to hinder or interfere with the work of the other party. Tenant shall
      complete its Tenant Improvements on floors 2 through 5 of Building 1 and
      floors 3 through 5 of Building 2, and portions of the first floors of both
      Buildings no later than March 31, 2003. Tenant is anticipating completing
      the Tenant Improvements for the remainder of the Premises by December 31,
      2003.
      

      

      
	No Tenant or Landlord Delay. The parties hereto agree that, due to
      the provisions of this Amendment that eliminate Tenant Improvements from
      Landlord Work, as of the date of this Amendment neither Tenant nor its
      agents, employees, vendors or contractors has taken any action or failed
      to take any action (including the failure to act or deliver in accordance
      with the schedule set forth on Exhibit D-3 of the Lease) which has caused
      a Tenant Delay. Further, the parties agree that the negotiation of the
      terms and conditions of this Amendment, and Landlord's completion of
      Landlord Work, as modified herein, within the time period described
      herein, shall not be deemed to have caused a Landlord Delay in Tenant's
      completion of the construction of its Tenant Improvements.
      

      

      
	Construction Rider.  The following Sections of Exhibit D
      to the Original Lease ("Construction Rider") are hereby deleted: 2.1.5,
      2.2 (but not 2.2.1), 2.3, 2.5, 3, 4, 8 and 9.
      

      

      
	No Further Modifications.  The parties hereto agree that
      (i) the Lease is in full force and effect without default by either party,
      (ii) except as expressly modified hereby, the terms of the Existing Lease
      are in full force and effect, (iii) to the extent the terms and provisions
      of this Amendment expressly conflict with the terms and provisions of the
      Existing Lease, the terms and provisions of this Amendment will govern.
      

      

      
	Counterparts/Successors and Assigns. This Amendment may be
      executed in counterparts, each of which shall be deemed an original as
      against the party whose signature is affixed thereto, and all of which
      together shall constitute but one and the same agreement. This Amendment
      shall be binding upon and inure to the benefit of the parties and their
      respective successors and assigns.
      

	
        LANDLORD:

        WEO - CONCAR, LLC,
a California limited
        liability company

        

        By: Wilson/Equity Office, LLC
a Delaware limited
        liability company
its Manager

        

        By: Wilson Investors-California, LLC
a Delaware
        limited liability company
its Manager

        

        By: /s/ Thomas P. Sullivan 
Thomas P.
        Sullivan, Manager
	
        TENANT:

        SIEBEL SYSTEMS, INC.,
a Delaware corporation

        

        By: /s/ Craig Stevens 
Name: Craig
        Stevens
Title: Director, Legal Affairs

        

         

         

        By: 
Name: 
Title:
        

  

  

   

  EXHIBIT A

  Costs to be Reimbursed by Tenant

  
  	
        Tenant's Shell Costs under Amendment 1
	
        $ 823,344

	
        Landlord's Overhead under Amendment 1
	
        37,984

	
        Accrued Design Costs through 9/25/02
	
        222,596

	
        Credit for Perimeter Tape Work
	
        <73,289>

	
        Bathroom on Ground Floor
	
        50,000

	
        Conduit from Emergency Generator
	
        49,451

	
        Total as of date of Amendment 2:
	
        $1,110,086

  

  

September 19, 2002

Ms. Linda Jansen

Vice President, Real Estate and Facilities

Siebel Systems, Inc.

2207 Bridgepoint Parkway

San Mateo. CA 94404

Siebel Systems, Inc.

Attn:General Counsel

2207 Bridgepoint Parkway

San Mateo, CA 94404

Re: Concar - Office Lease Agreement, dated as of September 2000 by and between WEO CONCAR, LLC, a California limited liability company, formerly known as Office Opportunity Associates, LLC, a California limited liability company ("Landlord"), and SIEBEL SYSTEMS, INC., a Delaware corporation ("Tenant"), as modified by that certain letter agreement dated March 8, 2001, and First Amendment to Office Lease Agreement dated December 21, 2001 (such lease with all such amendments, the "Lease")

Ladies and Gentlemen:

This letter concerns your commencement of construction of tenant improvements in the Buildings 1 and 2 at the Concar project in San Mateo. (All capitalized terms used in this letter will have the meanings given in the Lease.)

We were very pleased to learn recently you reversed your plans to leave the Buildings unoccupied for the time being, and now want to complete your tenant improvements and move in as quickly as possible. We have been working very hard with you and the City to help you achieve this goal, and we certainly intend to continue cooperating in this effort as much as we can. As I am sure you understand there are certain details that need to be attended to prior to your continuation of the tenant improvement construction so as not to expose the Landlord or Tenant to undue risks, liabilities or other problems.

As of last week, Venture Builders has instructed their subcontractors to cease work until Landlord has formally released them to proceed. Landlord is prepared to do so in accordance with the current tenant improvement schedule. However, we ask that you acknowledge your agreement to abide by the terms of this letter and the Lease and by the following terms by signing the enclosed copy of this letter and returning it to Landlord:

1. You are the party contracting for and responsible for supervising, managing and paying for all tenant improvement work being performed by Venture Builders and its subcontractors.

2. You indemnify us and hold us harmless from and against any and all loss, cost, damage, expense or liability, including reasonable attorneys' fees and costs related to or arising out of the prior or future construction of the tenant improvements, including, without limitation, any liens resulting from your work and any delay in completion of our work directly or indirectly caused by your or your contractors', representatives' or agents' construction or other activities at the Premises.

We hope that these matters can be resolved quickly, so that you can finish your work and commence occupancy of the Premises as soon as possible.

Thank you for your cooperation.

Very truly yours,

WEO CONCAR. LLC., a California limited liability company

By:Wilson/Equity Office, LLC, a Delaware limited liability company

its Manager

By:Wilson Investors-California, LLC, a Delaware limited liability company

its Manager

By: /s/ Thomas P. Sullivan

Thomas P. Sullivan, Manager

The undersigned acknowledges and agrees to the terms and provisions of this letter.

SIEBEL SYSTEMS, INC.

A Delaware corporation

By: /s/ Linda S. Jansen

Name: Linda S. Jansen

Title: Vice President Facilities and Real Estate

Date: 9/26/02

cc: Bob Winter, EOP

Susan Sagy, EOP

Jeff Arnold, EOP

Mike Sanford, EOP

Jacqueline Moore

Jon Knorpp

Genelle Osendorf

Ken Morrison, The Rockridge Group

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]