Document:

Exhibit 10.5.16

 

Exhibit 10.5.16

			
	
	 	The Gale Company

Real Estate Investment&Services

Corporate Headquarters

100 Campus Drive

Suite 200

Florham Park NJ 07932

Tel: 973.301.9500

Fax: 973.245.3614

February 24, 2004

Lynn A. Siverd

Vice President and Chief Privacy Officer

Harris Interactive, Inc.

135 Corporate Woods

Rochester, New York 14623-1457

	 	 	 	 	 	 	 
	RE:

	 	Tenant
	 	-
	 	Harris Interactive, Inc.
	 

	 	Premises
	 	-
	 	33,675 rentable square feet
	 

	 	Building
	 	-
	 	5 Independence Way, Princeton, New Jersey

Dear Lynn:

     In connection with the above-referenced matter, I am pleased to enclose for your files
two (2) fully executed original counterparts of the Eighth Amendment of Lease and Partial
Surrender Agreement dated February 20, 2004

     We thank you for your cooperation in successfully consummating this transaction and
look forward to serving your real estate needs in a manner that exceeds all expectations.

     If you have any questions or comments with regard to the foregoing, do not hesitate
to contact me.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	/s/ Marc Ripp
 	 
	 	Marc Ripp  	 
	 	Counsel 	 
	 

FLORHAM PARK NJ      PRINCETON NJ   
   NEW YORK NY      BOSTON MA      IRVINE CA   
   LONDON UK

 

     EIGHTH AMENDMENT OF LEASE AND PARTIAL SURRENDER AGREEMENT

     THIS EIGHTH AMENDMENT OF LEASE AND PARTIAL SURRENDER AGREEMENT (this
“Agreement”) dated as of the 20th day of February, 2004, between 5 INDEPENDENCE
ASSOCIATES LIMITED PARTNERSHIP, a New Jersey limited partnership, having an address c/o PW/MS
Management Co., Inc., The Gale Company, LLC, Park Avenue at Morris County, 100 Campus Drive,
Florham Park, New Jersey 07932-1007 (“Landlord”) and HARRIS INTERACTIVE, INC., a Delaware
corporation, having an address at 135 Corporate Woods, Rochester, New York 14623-1457 (“Tenant”).

WITNESSETH: 

     WHEREAS:

     A. Bellemead Development Corporation, predecessor-in-
interest to Landlord, and Total Research Corporation,
predecessor-in-interest to Tenant, heretofore entered into a
certain lease dated December 2, 1985, as amended on July 31,
1986, January 5, 1987, November 27, 1990, December 27, 1995,
December 12, 1996, February 19, 1998, June 15, 1998, September
28, 1999, January 17, 2000 and December 15, 2000 (said lease as
it was or may hereafter be amended is hereinafter called the
“Lease”) with respect to a portion of the building commonly
known as 5 Independence Way, Princeton, New Jersey;

     B. Tenant desires to (i) surrender to Landlord a portion
of the Demised Premises, as shown on Exhibit A attached hereto
(the “Surrender Premises”), and (ii) remain obligated under the
Lease for the balance of the Demised Premises, as shown on
Exhibit B attached hereto (the “Retained Premises”);

     C. Landlord is willing to accept Tenant’s surrender of
the Surrender Premises, subject, however, to the terms and
conditions contained herein;

     D. The term of the Lease with respect to the Demised
Premises, excluding the Growth Space (as defined in the Sixth
Amendment of Lease dated as of September 28, 1999) , is set to
expire on July 31, 2006 and the term of the Lease with respect
to the Growth Space is set to expire on May 31, 2004; and

     E. Landlord and Tenant desire to extend the Term of the
Lease with respect to the Retained Premises, excluding the
Growth Space, so that its scheduled expiration date is February

 

 

28, 2011, subject, however, to the terms and conditions contained herein.

     NOW THEREFORE, in consideration of the promises and mutual covenants hereinafter contained,
the parties hereto agree as follows:

     1. Defined Terms. All terms contained in this Agreement
that are defined in the Lease, shall, for the purposes hereof,
have the same meaning ascribed to them in the Lease.

     2. Surrender. (a) Subject to the provisions of this
Agreement, the Lease and the term and estate granted thereunder
with respect to the Surrender Premises shall terminate and
expire as of January 31, 2004 (the “Surrender Date”), as fully
and completely as if the Surrender Date were the date originally
fixed in the Lease as the Termination Date with respect to the
Surrender Premises, and Tenant shall surrender the Surrender
Premises on the Surrender Date to Landlord as fully and
completely as if the Surrender Date were the date originally
fixed in the Lease as the Termination Date with respect to the
Surrender Premises, and Landlord shall accept the Surrender
Premises on the Surrender Date, to have and to hold the same for
the unexpired residue of the term of the Lease. After the
Surrender Date, Tenant shall have no further rights, obligations
or liabilities of any kind or nature under the Lease with
respect to the Surrender Premises, except as expressly provided
in this Agreement.

          (b) On or before the Surrender Date, Tenant shall, with respect to the Surrender Premises,
comply with all of the terms and conditions of the Lease which are applicable to the surrender
and termination of the Lease, including, but not limited to, the provisions of Article 21
of the Lease. In the event that Tenant fails to surrender the Surrender Premises to Landlord on
the Surrender Date in accordance with the terms of this Agreement, then Tenant’s occupancy of the
Surrender Premises shall be deemed a holdover tenancy for the period commencing on the Surrender
Date to and including the date on which Tenant surrenders the Surrender Premises to Landlord in
accordance with the terms of this Agreement and such occupancy shall be subject to the terms of
Paragraph 55 of the Lease. Landlord acknowledges that the condition of the Surrender
Premises, as of the date of this Agreement, satisfies the requirements of Article 21 of
the Lease and Landlord accepts the Surrender Premises in their “AS IS” physical condition as of
the date of this Agreement.

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          (c) Effective as of the Surrender Date, the term “Demised Premises” as used in
the Lease, shall be deemed to mean and consist of the Retained Premises and the Demised
Premises shall be deemed to consist of 33,675 rentable square feet.

     3. Extension of Term. (a) The term of the Lease with respect to the Retained
Premises, excluding the Growth Space, is hereby extended so that the Termination Date shall
be February 28, 2011. Landlord and Tenant acknowledge and agree that the term of the Lease
with respect to the Growth Space shall expire on May 31, 2004, as set forth in the Sixth
Amendment of Lease.

          (b) During the term of the Lease, as extended hereby, Tenant shall continue to perform
all of its obligations under the Lease, as amended hereby, including, without limitation,
the payment of Minimum Rent, Adjusted Minimum Rent, costs of electricity and all other
charges under the Lease, as amended hereby.

     4. Minimum Rent. (a) Without limiting Tenant’s obligation to pay Minimum Rent
in accordance with the terms of the Lease prior to the Surrender Date, effective as of the
Surrender Date, the Lease is hereby amended to provided that Tenant shall pay to Landlord
Minimum Rent in the following amounts:

	 	 	 	 	 	 	 	 	 
	Time Period	 	Monthly Minimum Rent	 	 	Annual Minimum Rent	 
	2/1/2004 to 5/31/2004
	 	$	70,118.23	 	 	$	841,418.70	 
	6/1/2004 to 7/31/2006
	 	$	60, 650.00	 	 	$	727,800.00	 
	8/1/2006 to 1/31/2009
	 	$	61,863.00	 	 	$	742,356.00	 
	2/1/2009 to 2/28/2011
	 	$	65,502.00	 	 	$	786,024.00	 

          (b) Notwithstanding anything to the contrary contained in subparagraph
(a), provided Tenant is not in default under the Lease, as amended hereby, as of the
Surrender Date, Tenant shall be entitled to a credit in the amount of $9,319.48 against the
next monthly installment of Minimum Rent due after the Surrender Date. If Tenant is in
default beyond the expiration of any applicable cure or grace period under the Lease, as
amended hereby, as of the Surrender Date, then Tenant shall have no right to any rent credit
pursuant to this subparagraph (b).

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     5. Adjusted Minimum Rent. (a) During the term of the Lease, as extended
hereby, Tenant shall pay Adjusted Minimum Rent and all other sums due under the Lease, as amended
hereby.

          (b) The term “Occupancy Percentage” as used in the
Lease shall mean (i) 29.74%, during the period commencing on the
Surrender Date and ending on May 31, 2004, inclusive; and (ii)
25.70%, effective as of June 1, 2004.

          (c) Effective as of the Surrender Date, for purposes
of computing Adjusted Minimum Rent with respect to the Retained
Premises, excluding the Growth Space, after the Surrender date,
the terms “First Tax Year” and “First Operating Year” shall each
mean the calendar year ending December 31, 2004. For purposes
of calculating Adjusted Minimum Rent with respect to the Growth
Space, the terms “First Tax Year” and “First Operating Year”
shall not be amended hereby and shall continue to have their
respective meanings as in effect prior to the date of this
Agreement.

          (d) Nothing in this Agreement shall be construed to
affect Tenant’s obligation to reimburse Landlord for increases
in Taxes and Building Operating Costs with respect to the
Surrender Premises for the period up to and including the
Surrender Date based upon a reconciliation of same by Landlord
after the Surrender Date, pursuant to the terms of the Lease.

     6. Condition of Demised Premises.

          (a) Tenant acknowledges that it is in occupancy of
the Retained Premises and hereby accepts the Retained Premises
in their “AS IS” physical condition and state of repair as of
the Surrender Date, subject, however, to the terms of this
Paragraph 6. Landlord shall have no obligation to do any work,
perform any services or grant any construction allowances in
connection with this Agreement or the extension of the term of
the Lease, except as set forth in this Paragraph 6.

          
(b) Within sixty (60) days after the date of this
Agreement, Landlord shall shampoo the carpets in the Retained
Premises (“Landlord’s Work”). After Landlord commences
Landlord’s Work, Landlord shall complete Landlord’s Work in a
reasonably diligent manner. Tenant shall cooperate with
Landlord in connection with Landlord’s Work, including, without
limitation, moving, at Tenant’s cost and expense, such
employees, personal property and trade fixtures in the Retained
Premises as Landlord may reasonably request. Tenant

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acknowledges and agrees that the performance of Landlord’s Work may result in inconvenience
to Tenant and agrees that Landlord’s Work and the resulting inconvenience shall not constitute an
actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement of
Minimum Rent or Adjusted Minimum Rent, or relieve Tenant from any of its obligations under the
Lease, as amended hereby, or impose any liability upon Landlord or its agents.

          (c) Landlord shall reimburse Tenant in an amount equal to the lesser of (i) Tenant’s
out-of-pocket expenses actually paid in connection with painting the Retained Premises, or (ii)
$10,000.00 (such lesser amount being referred to herein as the “Painting Allowance”) . Provided
Tenant is not in default beyond the expiration of any applicable cure or grace period under the
Lease (as amended hereby) , Landlord shall pay the Painting Allowance to Tenant within fifteen
(15) days after Tenant submits to Landlord invoices evidencing Tenant’s out-of-pocket expenses
actually paid in connection with painting the Retained Premises.

     7. Parking. Effective as of the Surrender Date, Paragraph 43.1 of the Lease is
hereby amended to provide that Tenant’s Allotted Parking shall be reduced to (a) 118 spaces
during the period commencing on the Surrender Date and ending on May 31, 2004, inclusive; and (b)
102 spaces effective as of June 1, 2004.

     8. Security Deposit. Landlord hereby agrees that as of the date of this Agreement,
the amount required as security under the Lease shall be reduced to $88,600.00; provided,
however, that there shall be no reduction as of the date of this Agreement if Tenant is in default
beyond the expiration of any applicable cure or grace period under the Lease, as amended hereby,
as of the date of this Agreement; and provided, further, the amount of security required under the
Lease shall never be less than $88,600.00. In the event that Tenant is in default beyond the
expiration of any applicable cure or grace period under the Lease, as amended hereby, as of the
date of this Agreement, then the security deposit shall not be reduced by the scheduled amount,
and said reduction shall be deemed forever waived even though the default in question is
subsequently cured. For the purposes hereof, the term “security” or “security deposit”
shall mean the amount of security required under the Lease, as amended hereby, as of the date in
question.

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     9. Landlord’s Notice Address. (a) Effective as of the date of this Agreement,
Landlord’s address for notices as set forth in Paragraph 57 of the Lease shall be:

5 Independence Way Associates

c/o PW/MS Management Co., Inc.

The Gale Company, LLC

Park Avenue at Morris County

100 Campus Drive

Florham Park, New Jersey 07932-1007

With a copy to:

Marc Leonard Ripp, Esq.

General Counsel

The Gale Company, LLC

Park Avenue at Morris County

100 Campus Drive

Florham Park, New Jersey 07932-1007

     (b) Effective as of the date of this Agreement, Tenant’s address for notices as set forth
in Paragraph 57 of the Lease shall be:

Bruce Newman

Chief Financial Officer

Harris Interactive, Inc.

60 Corporate Woods

Rochester, New York 14623-1457

With a copy to:

Gregory W. Lane, Esq.

Harris Beach LLP

99 Garnsey Road

Pittsford, New York 14534

     10. Overtime HVAC. The first sentence of Paragraph 39.2 of the Lease is
hereby supplemented and amended to provide that, with regard to any after-hours air conditioning,
ventilation or heating: (a) supplied at any time between October 1 and March 31 to all or any part
of the Retained Premises after the date of this Agreement, Tenant shall pay to Landlord, as
additional rent and upon Landlord’s demand, a sum equal to $55.00 per hour (subject to the last two
(2) sentences of Paragraph 39.2 of the Lease), and (b) supplied at any time between April 1
and September 30 to all or any part of the Retained Premises on or

6

 

after the date of this Agreement, Tenant shall pay to Landlord, as additional rent and upon
Landlord’s demand, a sum equal to $75.00 per hour (subject to the last two (2) sentences of
Paragraph 39.2 of the Lease) . The charges for after-hours air-conditioning, ventilation
or heating set forth in this Paragraph 10 remain subject to the provisions of
Paragraph 19 of the Sixth Amendment of Lease dated as of September 28, 1999.

     11. Ratification. Except as expressly amended by this Agreement, the Lease, and
all terms, covenants and conditions thereof, shall remain in full force and effect and is hereby in
all respects ratified and confirmed.

     12. Brokers. Tenant hereby represents and warrants to Landlord that Tenant has
not dealt with any broker, agent or finder in connection with this Agreement other than
Triad Properties LLC (the “Broker”). Tenant shall indemnify and hold the Landlord harmless from
and against any claim or claims for brokerage or other commissions or fees asserted by any broker,
agent or finder, other than the Broker, claiming to have dealt with such party in connection
with this Agreement. This provision shall survive the Surrender Date and the expiration or
earlier termination of the Lease.

     13. Merger. All prior oral or written understandings and agreements between the
parties with respect to the subject matter of this Agreement are merged into this Agreement,
which alone fully and completely expresses the agreement of the parties.

     14. Counterparts. This Agreement may be executed in any number of counterparts, each
of which, when so executed and delivered, shall constitute an original, fully enforceable
counterpart for all purposes.

     15. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New Jersey.

     16. Non-Binding Draft. The mailing or delivery of this document or any draft of this
document by Landlord or its agent to Tenant, its agent or attorney shall not be deemed an offer by
the Landlord on the terms set forth in this document or draft, and this document or draft may be
withdrawn or modified by Landlord or its agent at any time and for any reason. The purpose of
this paragraph is to place Tenant on notice that this document or draft shall not be effective, nor
shall Tenant have

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any rights with respect hereto, unless and until Landlord shall execute and accept this document.

     17. No Default. Tenant hereby agrees that there are, as of the date hereof,
regardless of the giving of notice or the passage of time, or both, no defaults or breaches on the
part of Landlord under the Lease, as amended hereby.

     18. Corporate Authority. Tenant represents that the undersigned corporate officer
of the Tenant corporation has been duly authorized on behalf of the Tenant corporation to enter
into this Agreement in accordance with the terms, covenants and conditions set forth herein, and
upon Landlord’s request, Tenant shall deliver evidence, in form and substance satisfactory to
Landlord, to the foregoing effect.

8

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on
the day and year first written above.

	 	 	 	 	 	 	 
	Signed and delivered
	 	 	 	 	 	 
	 
	WITNESSED BY:	 	LANDLORD:
	 
	 	 	5 INDEPENDENCE ASSOCIATES
	 	 	LIMITED PARTNERSHIP
	 
	 	 	 	 	 	 
	 	 	By:	 	PW/MS OP SUB I, LLC
	 

	 	 	 	By:
	 	The Gale Real Estate
	 

	 	 	 	 	 	Advisors Company, LLC

	 	 	 	 	 
	/s/ Marc Leonard Ripp, Esq.

	 	By:
	 	/s/ Mark Yeager
	 

	 	 	 	 
	Marc Leonard Ripp, Esq.

	 	 	 	Name: Mark Yeager
	 

	 	 	 	Title: President

	 	 	 	 	 
	ATTESTED BY:	 	AGENT FOR LANDLORD:
	 
	 	 	 	 
	 	 	PW/MS MANAGEMENT CO., INC.
	 
	 	 	 	 
	/s/ Marc Leonard Ripp, Esq.

	 	By:
	 	/s/ Mark Yeager
	 

	 	 	 	 
	Marc Leonard Ripp, Esq.

	 	 	 	Name: Mark Yeager
	Corporate Secretary

	 	 	 	Title : President
	 
	 	 	 	 
	APPLY CORPORATE SEAL HERE
	 	 	 	 
	 
	 	 	 	 
	ATTESTED BY:

	 	TENANT:
	 
	 	 	 	 
	 	 	HARRIS INTERACTIVE, INC,
	 
	 	 	 	 
	/s/ Bruce A Newman

	 	By:
	 	/s/ Lynn A. Siverd
	 

	 	 	 	 
	Name : Bruce A Newman

	 	 	 	Name: Lynn A. Siverd
	          (Please Print)	 	 	 	          (Please Print)
	 
	Title: Corporate Secretary

	 	 	 	Title: VP. Chief Privacy Officer
	 
	APPLY CORPORATE SEAL HERE

	 	 	 	          (Please Print)

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EXHIBIT A

SURRENDER PREMISES

10

 

Surrender Premises

SECOND FLOOR PLAN

5 INDEPENDENCE WAY

PRINCETON, NJ

 

EXHIBIT B

RETAINED PREMISES

11

 

RETAINED PRE

FOURTH FLOOR PLAN

5 INDEPENDENCE WAY

PRINCETON, NJ

 

 

SEVENTH AMENDMENT OF LEASE

     This SEVENTH AMENDMENT OF LEASE is made as of the 15th day of December, 2000 between 5
INDEPENDENCE ASSOCIATES LIMITED PARTNERSHIP, a New Jersey limited partnership, having an address
c/o P/W Management Co., Inc., c/o Gale & Wentworth, LLC, Park Avenue at Morris County, 200 Campus
Drive, Suite 200, Florham Park, New Jersey 07932-1007 (hereinafter called “Landlord”) and TOTAL
RESEARCH CORPORATION, a New Jersey corporation, having an office at 5 Independence Way, Princeton,
New Jersey 08540 (hereinafter called “Tenant”).

WITNESSETH:

     WHEREAS:

     A. Bellemead Development Corporation, predecessor-in-interest to Landlord, and
Tenant heretofore entered into a certain lease dated December 2, 1985, as amended on July 31,
1986, January 5, 1987, November 27, 1990, December 27, 1995, December 12, 1996, February
19, 1998, June 15, 1998, September 28, 1999 and January 17, 2000 (said lease as it was or may
hereafter be amended is hereinafter called the “Lease”) with respect to a portion (“Demised
Premises”) of the building known as 5 Independence Way, Princeton, New Jersey (“Building”);
and

     B. Tenant is desirous of (i) reducing the size of the Demised Premises by
surrendering 9,702 rentable square feet (“Surrender
Space”) on the second
(2nd) floor of the
Building, as illustrated on Schedule A attached hereto and made a part hereof and (ii)
extending the term with respect to 4,563 rentable square feet (“Growth Space”) on the first (1st) floor
of the

 

 

Building, as illustrated on Schedule B attached hereto and made a part hereof, so that it
expires on May 31, 2004 (“Growth Space Termination
Date”).

     NOW, THEREFORE, in consideration of the promises and mutual covenants hereinafter contained,
the parties hereto modify the Lease as follows:

     1. DEFINED TERMS. Except as specifically provided otherwise in this Seventh
Amendment of Lease, all defined terms contained in this Seventh Amendment of Lease, shall,
for the purposes hereof, have the same meaning ascribed to them in the Lease.

     2. SURRENDER SPACE. The“ Ruested Surrender Date” is herein defined
as December 31, 2000. Tenant shall deliver possession of the Surrender Space to Landlord by
the Requested Surrender Date in the same physical condition and state of repair that would
apply to the Surrender Space as if the Requested Surrender Date were the Termination Date with
respect thereto. The earliest date after the Requested Surrender Date by when Tenant has
delivered to Landlord the Surrender Space in the physical condition and state of repair as
required hereunder is hereinafter called the“ Actual Surrender Date”. If the Actual
Surrender Date fails to occur by the Requested Surrender Date, then Tenant shall be deemed a holdover
tenant for the Surrender Space and shall be liable to Landlord under Article 55 of the Lease
as if December 31, 2000 were the Termination Date with respect to the Surrender Space. As of the
Actual Surrender Date, Exhibit A (Rental Plan) to the Lease shall be deemed to have
excluded therefrom the Surrender Space. Nothing in this Paragraph shall be deemed to constitute a
release or discharge of Tenant with respect to any outstanding and unsatisfied obligation or
liability, whether unbilled or calculated, accrued or incurred under the Lease, such as, but not limited
to, Minimum Rent, Adjusted Minimum Rent, additional rent and other charges payable by Tenant in
connection with the Surrender Space for the period up to and including January 15, 2001.

- 2 -

 

Tenant shall not have any legal or equitable right or interest in or to the Surrender Space after
the Requested Surrender Date. As of the date hereof, Tenant hereby releases Landlord from and
against all claims, demands, liabilities, costs and expenses arising out of the Lease in connection
with the Surrender Space which Tenant ever had, now has or shall hereafter have against Landlord.
In consideration for Landlord’s agreement to accept the
Surrender Space Tenant agrees to pay to
Landlord a fee (the ‘Termination Fee”) in the amount of Fifty-Nine Thousand
Two Hundred Eighty-One Dollars (59,281 which Termination Fee shall be due in immediately available
funds immediately upon execution of this Agreement as a condition precedent to Landlord’s
obligation to accept the Surrender Space. Notwithstanding anything to the contrary contained
herein or in the Lease, Landlord and Tenant agree that as additional consideration for Landlord’s
agreement to accept the Surrender Space, Tenant agrees to pay to Landlord the full installment of
Minimum Rent, Adjusted Minimum Rent, additional rent and other charges payable by Tenant in
connection with the Surrender Space due for the period up to and including January 15, 2001; any
amounts so paid by Tenant (including any payments made in advance) shall not be refunded to Tenant
after the Actual Surrender Date. Tenant acknowledges and agrees that the foregoing shall not serve
to minimize or limit Tenant’s liability as a holdover Tenant in the event Tenant were to fail to
tender possession of the Surrender Space to Landlord on or prior to the Requested
Surrender Date.

     3. TERMINATION DATE. Notwithstanding anything to the contrary contained in the Lease,
the date set forth in the Lease for the expiration of the term thereof with respect to the Growth
Space is hereby modified so that the Termination Date therefor shall be May 31, 2004, which date
shall be deemed the “Scheduled Surrendered Date” with respect to the Growth Space for all
purposes under the Lease.

- 3 -

 

     4. MINIMUM RENT. The Lease is hereby amended to provide that the Minimum
Rent, on an annual basis, shall be:

(i) ONE MILLION SIXTY-NINE THOUSAND FIVE HUNDRED FIFTY-SIX AND
70/100 DOLLARS ($1,069,556.70) for the period commencing on July 1,
1999 and ending on November 30, 1999, payable in advance on the
first day of each calendar month in equal monthly installments of
EIGHTY-NINE THOUSAND ONE HUNDRED TWENTY-NINE AND 73/100 DOLLARS
($89,129,73);

(ii) ONE MILLION ONE HUNDRED EIGHTY-THREE THOUSAND ONE HUNDRED
SEVENTY-FIVE AND 46/100 DOLLARS ($1,183,175.46) for the period
commencing on December 1, 1999 and ending on January 15, 2001,
payable in advance on the first day of each calendar month in equal
monthly installments of NINETY-EIGHT THOUSAND FIVE HUNDRED
NINETY-SEVEN AND 96/100 DOLLARS ($98,597.96);

(iii) NINE HUNDRED EIGHTY THOUSAND FOUR HUNDRED THREE AND 72/100
DOLLARS ($980,403.72) for the period commencing on January 16, 2001
and ending on February 28, 2003 (which date shall be the Scheduled
Surrender Date under the Fifth Amendment of Lease), payable in
advance on the first day of each calendar month in equal monthly
installments of EIGHTY-ONE THOUSAND SEVEN HUNDRED AND 31/100 DOLLARS
($81,700.31);

(iv) NINE HUNDRED TWENTY-SEVEN THOUSAND NINE HUNDRED THREE AND
72/100 DOLLARS ($927,903.72) for the period commencing on March 1,
2003 and ending on June 30, 2003, payable in advance on the first day of each calendar month
in equal monthly installments of SEVENTY-SEVEN THOUSAND THREE HUNDRED TWENTY-FIVE AND 31/100
DOLLARS ($77,325.31);

(v) NINE HUNDRED SEVENTY THOUSAND SEVEN HUNDRED SIXTY AND 76/100
DOLLARS ($970,760.76) for the period commencing on July 1, 2003 and
ending on May 31, 2004, payable in advance on the first day of each calendar month
in equal monthly installments of EIGHTY THOUSAND EIGHT
HUNDRED NINETY-SIX AND 73/100 DOLLARS ($80,896.73);
and

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(vi) EIGHT HUNDRED FIFTY-SEVEN THOUSAND ONE HUNDRED FORTY-TWO AND
00/100 DOLLARS ($857,142.00) for the period commencing on June 1,
2004 and ending on July 31, 2006, payable in advance on the first day
of each calendar month in equal monthly installments of SEVENTY-ONE
THOUSAND FOUR HUNDRED TWENTY-EIGHT AND 50/100 DOLLARS ($71,428.50).

     5. DEMISED PREMISES LEASE AMENDMENT. Section 36.2 of the Lease shall be amended as follows:

(i) as of the Actual Surrender Date to provide that (a) the Demised
Premises shall be deemed to contain a floor area of 46,024 square
feet and (b) the Occupancy Percentage shall be
40.7%;

(ii) as of March 1, 2003 to provide that (a) the Demised Premises
shall be deemed to contain a floor area of 43,524 square feet and
(b) the Occupancy Percentage shall be 38.5%; and

(iii) as of June 1, 2004 to provide that (a) the Demised Premises
shall be deemed to contain a floor area of 38,961 square feet and
(b) the Occupancy Percentage shall be 34.4%.

     6. FIRST TAX YEAR. For purposes of computing the additional rent accruing
after the Actual Surrender Date that is due Landlord under Section 36.4(1) of the Lease, the
terms of the Lease shall continue in effect without modification hereby.

     7. FIRST OPERATING YEAR. For purposes of computing the additional rent
accruing after the Actual Surrender Date that is due Landlord under Section 36.5(1) of the
Lease, the terms of the Lease shall continue in effect without modification hereby.

     8. PARKING. As of the Actual Surrender Date, Tenant’s Allotted Parking
referenced in Section 43.1 of the Lease shall be for one hundred forty-seven (147) cars.

     9. BROKERAGE. Tenant represents that it has had no dealings or
communications with any real estate broker or agent in connection with this Seventh

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Amendment of Lease, except Gale & Wentworth Real Estate Advisors, LLC. Tenant agrees to defend
indemnify and hold Landlord, its affiliates and/or subsidiaries and the partners, directors,
officers of Landlord and its affiliates and/or subsidiaries harmless from and against any and all
costs, expenses or liability (including attorney’s fees, court costs and disbursements) for any
commission or other compensation claimed by any broker or agent (except Gale & Wentworth Real
Estate Advisors, LLC) with respect to this Seventh Amendment of Lease.

     10. CORPORATE AUTHORITY. Tenant represents that the undersigned
officer of the Tenant corporation has been duly authorized on behalf of the Tenant corporation
to enter into this Seventh Amendment of Lease in accordance with the terms, covenants and
conditions set forth herein, and, upon Landlord’s request, Tenant shall deliver an appropriate
certification by the Secretary of the Tenant corporation to the foregoing effect.

     11. LEASE RATIFICATION. Except as expressly amended by this Seventh
Amendment of Lease, that certain letter agreement dated January 17, 2000, that certain Sixth
Amendment of Lease dated September 28, 1999, that certain letter agreement dated June 15,
1998, that certain Fifth Amendment of Lease dated February 19, 1998, that certain Fourth
Amendment of Lease dated December 12, 1996, that certain Third Amendment of Lease dated
December 27, 1995, that certain Second Amendment of Lease dated November 27, 1990, that
certain letter agreement dated July 31, 1986 and that certain First Amendment of Lease dated
January 5, 1987, the Lease and all terms, covenants and conditions thereof, shall remain in
full force and effect and are hereby in all respects ratified and confirmed.

     12. NON-BINDING DRAFT. The mailing or delivery of this document or any
draft of this document by Landlord or its agent to Tenant, its agent or attorney shall not be
deemed an offer by the Landlord on the terms set forth in this document or draft, and this

- 6 -

 

document or draft may be withdrawn or modified by Landlord or its agent at any time and for
any reason. The purpose of this section is to place Tenant on notice that this document or draft
shall not be effective, nor shall Tenant have any rights with respect hereto, unless and until
Landlord shall execute and accept this document. No representations or promises shall be
binding on the parties hereto except those representations and promises contained in a fully
executed copy of this document or in some future writing signed by Landlord and Tenant.

     13. NO
EXPANSION, PURCHASE OR CONTRACTION OPTIONS. As of the date
hereof, (i) any rights of first offer, rights of first refusal, rights of first
negotiation, purchase rights, contraction rights or any other expansion, contraction or purchase options,
rights, privileges or opportunities (hereinafter collectively referred to as “Expansion Rights”)
that Tenant may have under the Lease or otherwise shall be deemed without legal force, (ii)
any exercise or attempted exercise of any Expansion Rights by Tenant shall be deemed
ineffective and (iii) all of Landlord’s duties, liabilities, obligations, responsibilities and
commitments incidental to such Expansion Rights shall be deemed null and void. The parties
acknowledge and agree that this provision shall not affect the scheduled surrender of the Growth
Space as described herein or the scheduled surrender of certain space totaling 2,500 rentable
square feet as described in the Lease.

     14. NO ORAL CHANGES. This Seventh Amendment of Lease may not be
changed orally, but only by a writing signed by both Landlord and Tenant.

     15. RELEASE. Tenant hereby waives, releases and forever discharges any
claims which it may have against Landlord as a result of the surrender of the Surrender Space,
except for claims or liabilities arising hereunder or under the Lease through the Requested
Surrender Date. Tenant further agrees to indemnify, defend and hold Landlord harmless from and
against

- 7 -

 

any and all losses, claims or expenses relating to the occupancy by Tenant or its sublessee of the
Surrender Space. This provision shall survive the surrender of the Surrender Space.

     16. NO DEFAULT. Tenant confirms that (i) Landlord has complied with all of its
obligations contained in the Lease and (ii) no event has occurred and no condition exists which,
with the passage of time or the giving of notice, or both, would constitute a default by Landlord
under the Lease.

[Signature Page Follows]

- 8 -

 

     IN WITNESS WHEREOF, the parties hereto have caused this Seventh Amendment of
Lease to be executed on the day and year first written above.

	 	 	 	 	 	 	 
	Signed, sealed and delivered
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	WITNESSED BY:	 	LANDLORD:
	 
	 	 	5 INDEPENDENCE ASSOCIATES
	 	 	LIMITED PARTNERSHIP
	 
	 	 	By: PW/MS OP SUBI, LLC
	 	 	       By: Gale &
Wentworth, Real Estate Advisor, LLC
	 
	 	 	 	 	 	 
	/s/ Marc Leonard Ripp	 	By:	 	/s/ Robert R. Mastie
	 	 	 	 	 
	NAME: MARC LEONARD RIPP	 	 	 	Name: Robert R. Mastie
	(Please Print)
	 	 	 	Title: Senior Vice President
	ATTORNEY AT
LAW
	 	 	 	 
	OF NEW JERSEY
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	ATTESTED BY:	 	AGENT FOR LANDLORD:
	 
	 	 	PW/MS MANAGEMENT CO., INC.
	 
	 	 	 	 	 	 
	/s/ Marc Leonard Ripp	 	By:	 	/s/ Robert R. Mastie
	 	 	 	 	 
	NAME: MARC LEONARD RIPP	 	 	 	Name: Robert R. Mastie
	(Please Print)
	 	 	 	Title: Senior Vice President
	ATTORNEY AT
LAW
	 	 	 	 
	OF NEW JERSEY
	 	 	 	 	 	 
	 
	APPLY
CORPORATE SEAL HERE
	 	 	 	 	 	 
	 
	ATTESTED BY:	 	TENANT:
	 
	 	 	TOTAL RESEARCH CORPORATION
	 
	 	 	 	 	 	 
	/s/ Jane B. Giles	 	By:	 	/s/ Patti B. Hoffman
	 	 	 	 	 
	Name: Jane B. Giles	 	 	 	Name: Patti B. Hoffman
	(Please Print)
	 	 	 	Title: Chief
Administration Officer
	Title:
	 	 	 	 	 	 
	 
	APPLY CORPORATE SEAL HERE
	 	 	 	 	 	 

-9-

 

 

SCHEDULE A

Surrender Space

 

 

SCHEDULE

Growth Space

FIRST
FLOOR PLAN

5 INDEPENDENCE WAY

PRINCETON, NJ

 

 

SIXTH AMENDMENT OF LEASE

     This
SIXTH AMENDMENT OF LEASE is made as of the 28th day of September, 1999 between 5
INDEPENDENCE ASSOCIATES LIMITED PARTNERSHIP, a New Jersey limited partnership, (“Landlord”) having
an address at PW/MS Management Co., Inc., c/o Gale & Wentworth, LLC, Park Avenue at Morris County,
200 Campus Drive, Suite 200, Florham Park, New Jersey 07932-1007 and TOTAL RESEARCH CORPORATION, a
New Jersey corporation, having an office at 5 Independence Way, Princeton, New Jersey 08540
(hereinafter called “Tenant”).

W
I T N E S S E
T H :

     WHEREAS:

     A. Bellemead Development Corporation, predecessor-in-interest to Landlord, and Tenant
heretofore entered into a certain lease dated December 2, 1985, as amended on July 31, 1986,
January 5, 1987, November 27, 1990, December 27, 1995, December 12, 1996 and February 19, 1998
(said lease as it was or may hereafter be amended is hereinafter called the “Lease”) with respect
to a portion (“Demised Premises”) of the building known as 5 Independence Way, Princeton,
New Jersey (“Building”), for a term ending on July 31, 2006 or on such earlier date upon which said
term may expire or be terminated pursuant to any conditions of limitation or other provisions of
the Lease or pursuant to law; and

     B. Tenant is desirous of increasing the size of the Demised Premises by the addition of 4,563
rentable square feet (“Growth Space”) on the first (1st) floor of the Building, as illustrated on
Schedule A, attached hereto and made a part hereof.

     NOW, THEREFORE, in consideration of the promises and mutual covenants hereinafter contained, the
parties hereto modify the Lease as follows:

     1. DEFINED TERMS. Except as specifically provided otherwise in this Sixth Amendment of
Lease, all defined terms contained in this Sixth Amendment of Lease, shall, for the purposes
hereof, have

 

 

the same meaning ascribed to them in the Lease.

     2. GROWTH SPACE COMMENCEMENT DATE. The Demised Premises shall be deemed expanded to include
the Growth Space on the earlier of (“Growth Space Commencement
Date”) (i) the day Tenant occupies
all or any part of the Growth Space or (ii) three (3) days after the date, as established by
Landlord and communicated by Landlord to Tenant, on which Landlord has substantially completed the
work described on (a) the Space Plan, attached hereto as Schedule B, and made a part hereof and (b)
the Leasehold Improvement Specifications, attached hereto as
Schedule B-1 and made a part hereof.
If substantial completion of the work described on Schedules B and B-1 hereof is postponed by
reason of any delays beyond the reasonable control of Landlord (including, but not limited to,
delays caused by Tenant and extras and change orders requested by Tenant), then, the date by when
Landlord shall have substantially completed such work shall be deemed to be the date, as determined
by Landlord, by when such work would have been substantially completed but for those delays beyond
the reasonable control of Landlord (including, but not limited to, delays caused by Tenant and
extras and change orders requested by Tenant). As of the Growth Space Commencement Date, the
attached Schedule A shall be added to and become a part of Exhibit A (Rental Plan) to the Lease. On
or about the Growth Space Commencement Date, Landlord may deliver to Tenant a notice (“Growth Space
Commencement Date Notice”) confirming, among other things, the inclusion of the Growth Space within
the Demised Premises as of the Growth Space Commencement Date. If
Tenant receives the Growth Space
Commencement Date Notice, Tenant shall sign same and return it fully executed to Landlord within
five (5) days after Tenant’s receipt thereof. Tenant’s failure to timely return a fully executed
unamended original counterpart of the Growth Space

2

 

Commencement Date Notice shall constitute Tenant’s express consent with and agreement to all
the terms contained in the Growth Space Commencement Date Notice as prepared by Landlord.

     3. CONDITION OF GROWTH SPACE. As of the Growth Space Commencement Date, Tenant shall be
deemed to have accepted the Growth Space in its then “as is” physical condition and state of
repair. In that regard, Landlord shall have no obligation to do any work or perform any services
with respect to the Growth Space or grant Tenant any construction allowance, except that Landlord,
at its expense, shall once, using Building standard means, methods, materials and manpower,
perform the work described on Schedules B and B-l. Tenant agrees that, as of the date hereof,
Tenant owes Landlord $33,046.00 as additional rent. If Landlord performs any additional work or
work differing from that shown on Schedules B and B-l, Tenant shall pay Landlord’s entire charge
therefor as additional rent and upon Landlord’s demand. Tenant shall pay Landlord said $33,046.00
as additional rent in two (2) installments. The first
(1st) installment of $11,015.00 shall
be due as additional rent from Tenant to Landlord on the date hereof.

     The second (2nd) and final installment of $22,031.00 shall be due as additional rent
from Tenant to Landlord on the date, established by Landlord, when the work described in Schedules
B and B-l is substantially complete. If Tenant fails to pay Landlord the first
(1st) of
said two (2) installments when due, then, the second
(2nd) and final
installment shall be automatically accelerated and immediately due and payable at once. If less
than all the work shown on Schedules B and B-l is performed, Tenant shall forever forfeit its
entitlement to the unperformed work and waive and release Landlord from any claim for a credit
associated with such unperformed work.

     4. MINIMUM RENT. The Lease shall be deemed amended to

3

 

provide that the Minimum Rent, on an annual basis is:

(i) ONE
MILLION SIXTY NINE THOUSAND FIVE HUNDRED FIFTY SIX AND 70/100 DOLLARS ($1,069,556.70) for
the period commencing on July 1, 1999 and ending on the day immediately preceding the Growth Space
Commencement Date, payable in advance on the first day of each calendar month in equal
monthly installments of EIGHTY NINE THOUSAND ONE HUNDRED TWENTY NINE AND 73/100 DOLLARS ($89,129.73);

(ii) ONE MILLION ONE HUNDRED EIGHTY THREE THOUSAND ONE HUNDRED SEVENTY FIVE AND 46/100 DOLLARS
($1,183,175.46) for the period commencing on the Growth Space Commencement Date and ending on
February 28, 2003, payable in advance on the first day of each calendar month in equal monthly
installments of NINETY EIGHT THOUSAND FIVE HUNDRED NINETY SEVEN AND 96/100 DOLLARS ($98,597.96);

(iii) If the Scheduled Surrender Date occurs on or before June 30, 2003, then

(a) for the period beginning on March 1, 2003 and ending on the day immediately preceding the
Scheduled Surrender Date, the annual Minimum Rent shall be ONE MILLION ONE HUNDRED THIRTY THOUSAND
SIX HUNDRED SEVENTY FIVE AND 46/100 DOLLARS ($1,130,675.46), payable in advance on the first day
of each calendar month in equal monthly installments of NINETY FOUR THOUSAND TWO HUNDRED TWENTY TWO
AND 96/100 DOLLARS ($94,222.96);

(b) for the period beginning on the Scheduled Surrender Date and ending on June 30, 2003, the
annual Minimum Rent shall be ONE MILLION SEVENTEEN THOUSAND FIFTY SIX AND 70/100 DOLLARS
($1,017,056.70), payable in advance on the first day of each calendar month in equal monthly
installments of EIGHTY FOUR THOUSAND SEVEN HUNDRED FIFTY FOUR AND 73/100 DOLLARS ($84,754.73);

(c) for the period beginning on July 1, 2003 and ending on July 31, 2006, the annual Minimum Rent
shall be ONE MILLION SEVENTY THOUSAND FIVE HUNDRED EIGHTY SIX AND 00/100 DOLLARS
($1,070,586.00), payable in advance on the first day of each calendar month in equal monthly
installments of EIGHTY NINE THOUSAND TWO HUNDRED FIFTEEN AND 50/100 DOLLARS ($89,215.50);

(iv) If the Scheduled Surrender Date occurs after June 30, 2003, then

(a) for the period beginning on July 1, 2003 and ending on the day immediately preceding the
Scheduled Surrender Date, the annual Minimum Rent shall be ONE MILLION ONE HUNDRED EIGHTY FOUR
THOUSAND TWO HUNDRED FOUR AND 76/100 DOLLARS ($1,184,204.76), payable in advance on

4

 

the first day of each calendar month in equal
monthly installments of NINETY EIGHT THOUSAND
SIX HUNDRED EIGHTY THREE AND 73/100 DOLLARS ($98,683.73); and

(b) for the period beginning on the Scheduled Surrender Date and ending on July 31, 2006, the
annual Minimum Rent shall be ONE MILLION SEVENTY THOUSAND FIVE HUNDRED EIGHTY SIX AND 00/100
DOLLARS ($1,070,586.00), payable in advance on the first day of each calendar month in equal
monthly installments of EIGHTY NINE THOUSAND TWO HUNDRED FIFTEEN AND 50/100 DOLLARS ($89,215.50).

     5. SIZE OF GROWTH SPACE. (A) Section 36.2 of the Lease shall be amended as of the date hereof
to provide that, only for the period beginning on the Growth Space Commencement Date until the
Actual Surrender Date [hereinafter defined in Paragraph 6.
(B) hereof], (i) the Demised Premises
shall be deemed to contain a floor area of 55,726. square feet and (ii) the occupancy Percentage
shall be 49.21%. For the period beginning on the day following the Actual Surrender Date until
July 31, 2006, Section 36.2 of the Lease shall be amended to provide that (a) the Demised Premises
shall be deemed to contain a floor area of 51,163 square feet and (b) the Occupancy Percentage
shall be 46%.

     (B) Notwithstanding anything contained to the contrary in subsection (A) hereof, on the day that
the 2,500 rentable square foot unit is delivered, as required by Section 6 of that certain Fifth
Amendment of Lease dated as of February 19, 1998 between Landlord and Tenant, (i) the floor area of
the Demised Premises shall be deemed reduced by 2,500 square feet and (ii) the Occupancy Percentage
shall be deemed reduced by 2.20%, which represents the quotient of 2,500 and 113,244.

     6. SURRENDER OF GROWTH SPACE. (A) The Scheduled Surrender Date shall mean the date
falling forty-two (42) months after the Growth Space Commencement Date. If, however, (i) any
sublease or other shared occupancy agreement encumbering all or any part of the Demised Premises as
of the date hereof is extended, renewed,

5

 

expanded or modified, or (ii) any assignee, subtenant or other user or tenant, who is
not in occupancy of all or any part of the Demised Premises as of the date hereof, takes
occupancy of all or any part of the Demised Premises after the date hereof, then, at Landlord’s
sole option. Landlord may at any time change the definition of the Scheduled Surrender Date so that
it means the date falling sixty (60) months, not forty-two (42) months, after the Growth Space
Commencement Date. If Landlord so exercises its option described in the preceding sentence. Tenant
shall be strictly bound by the changed definition of the Scheduled Surrender Date.

       (B) Tenant shall deliver the Growth Space to Landlord by the Scheduled Surrender Date in the same
physical condition and state of repair that would apply to the Growth Space as if the Scheduled
Surrender Date were the Termination Date. The earliest date after the Scheduled Surrender Date by
when Tenant has delivered to Landlord the Growth Space in the physical condition and state of
repair as required hereunder is hereinafter called the “Actual Surrender Date”. If the Actual
Surrender Date fails to occur by the Scheduled Surrender Date, then, Tenant shall be deemed a
holdover tenant at sufferance for the Growth Space and shall be liable to Landlord under Article 55
of the Lease as if the Scheduled Surrender Date were the Termination Date. As of the Actual
Surrender Date, Exhibit A to the Lease shall be deemed to have excluded therefrom the Growth Space
shown on Schedule A hereof. Nothing in this Sixth Amendment of Lease shall be deemed to constitute
a release or discharge of Tenant with respect to any outstanding and unsatisfied obligation or
liability, whether unbilled or calculated, accrued or incurred under the Lease, such as, but not
limited to, Minimum Rent, Adjusted Minimum Rent, additional rent and other charges payable by
Tenant in connection

6

 

FIFTH AMENDMENT OF LEASE

     This FIFTH AMENDMENT OF LEASE is made as of the 19 day of February, 1998 between 5 INDEPENDENCE
ASSOCIATES LIMITED PARTNERSHIP, a New Jersey limited partnership, (“Landlord”) having an address at
PW/MS Management Co., Inc., c/o Gale & Wentworth, LLC, Park Avenue at Morris County, 200 Campus
Drive, Suite 200, Florham Park, New Jersey 07932-1007 and TOTAL RESEARCH CORPORATION, a New Jersey
corporation, having an office at 5 Independence Way, Princeton, New Jersey 08540 (hereinafter
called “Tenant”).

W
I T N E S S E
T H :

     WHEREAS:

     A. Bellemead Development Corporation, predecessor-in-interest to Landlord, and Tenant
heretofore entered into a certain lease dated December 2, 1985,
as amended on July 31, 1986,
January 5, 1987, November 27, 1990, December 27, 1995 and December 12, 1996 (said lease as it was
or may hereafter be amended is hereinafter called the “Lease”) with respect to a portion (“Demised
Premises”) of the building known as 5 Independence Way, Princeton, New Jersey (“Building”), for
a term ending on July 31, 2006 or on such earlier date upon which said term may expire or be
terminated pursuant to any conditions of limitation or other provisions of the Lease or pursuant to
law; and

     B. Tenant is desirous of increasing the size of the Demised Premises by the addition of 2,500
rentable square feet (“Additional Space”) on the first (1st) floor of the Building, as illustrated
on Schedule A, attached hereto and made a part hereof.

     NOW, THEREFORE, in consideration of the promises and mutual covenants hereinafter contained, the
parties hereto modify the Lease as follows:

     l. DEFINED TERMS. Except as specifically provided

 

 

otherwise in this Fifth Amendment of Lease, all defined terms contained in this Fifth
Amendment of Lease, shall, for the purposes hereof, have the same meaning ascribed to them in the
Lease.

     2. ADDITIONAL SPACE COMMENCEMENT DATE. The Demised Premises shall be deemed expanded
to include the Additional Space on (“Additional Space Commencement Date”) March 1, 1998. As of the
Additional Space Commencement Date, the attached Schedule A shall be added to and become a part of
Exhibit A (Rental Plan) to the Lease. On or about the Additional Space Commencement Date, Landlord
may deliver to Tenant a notice (“Additional Space Commencement Date Notice”) confirming, among
other things, the inclusion of the Additional Space within the Demised Premises as of the
Additional Space Commencement Date. If Tenant receives the Additional Space Commencement Date
Notice, Tenant shall sign same and return it fully executed to Landlord within five (5) days after
Tenant’s receipt thereof. Tenant’s failure to timely return a fully executed unamended original
counterpart of the Additional Space Commencement Date Notice shall constitute Tenant’s express
consent with and agreement to all the terms contained in the Additional Space Commencement Date
Notice as prepared by Landlord.

     3. CONDITION OF ADDITIONAL SPACE. As of the Additional Space Commencement Date, Tenant
shall be deemed to have accepted the Additional Space in its then “as is” physical condition and
state of repair. In that regard, Landlord shall have no obligation to do any work or perform any
services with respect to the Additional Space or grant Tenant any construction allowance, except
that Landlord, at its expense, shall once, using Building standard means, methods, materials and
manpower, (i) patch and paint those walls of the Demised Premises, as selected by landlord and (ii)
clean areas of carpeting in the Demised Premises, as determined by Landlord.

     4. MINIMUM RENT. The Lease is hereby amended to provide that the Minimum Rent, on an
annual basis, shall be:

2

 

(i) SEVEN HUNDRED NINETY FIVE THOUSAND ONE HUNDRED FIFTY THREE AND 42/100 DOLLARS
($795,153.42) for the period commencing on July 1, 1996 and ending on February 28, 1998, payable in
advance on the first day of each calendar month in equal monthly installments Of SIXTY SIX THOUSAND
TWO HUNDRED SIXTY TWO AND 79/100 DOLLARS ($66,262.79);

(ii) EIGHT HUNDRED FORTY SEVEN THOUSAND SIX HUNDRED FIFTY THREE AND 42/100 DOLLARS ($847,653.42)
for the period commencing on March 1, 1998 and ending on June 30, 1999, payable in advance on the
first day of each calendar month in equal monthly installments of SEVENTY THOUSAND SIX HUNDRED
THIRTY SEVEN AND 79/100 DOLLARS ($70,637.79);

(iii) ONE MILLION SIXTY NINE THOUSAND FIVE HUNDRED FIFTY SIX AND 70/100 DOLLARS ($1,069,556.70) for
the period commencing on July 1, 1999 and ending on the last day of February in 2003, payable in
advance on the first day of each calendar month in equal monthly installments of EIGHTY NINE
THOUSAND ONE HUNDRED TWENTY NINE AND 73/100 DOLLARS ($89,129.73);

(iv) ONE MILLION SEVENTEEN THOUSAND FIFTY SIX AND 70/100 DOLLARS ($1,017.056.70) for the period
commencing on March 1, 2003 and ending on June 30, 2003, payable in advance on the first day of
each calendar month in equal monthly installments of EIGHTY FOUR THOUSAND SEVEN HUNDRED FIFTY FOUR
AND 73/100 DOLLARS ($84,754.73); and

(v) ONE MILLION SEVENTY THOUSAND FIVE HUNDRED EIGHTY SIX AND 00/100 DOLLARS ($1,070,586.00) for the
period commencing on July 1, 2003 and ending on July 31, 2006, payable in advance on the first day
of each calendar month in equal monthly
installments of EIGHTY NINE THOUSAND TWO HUNDRED FIFTEEN AND 50/100 DOLLARS ($89,215.50).

     5. SIZE OF ADDITIONAL SPACE. Section 36.2 of the Lease shall be amended as of the date
hereof to provide that, only for the period beginning on the Additional Space Commencement Date
until the Actual Surrender Date (hereinafter defined in Paragraph 6), (i) the Demised Premises
shall be deemed to contain a floor area of 51,163 square feet and (ii) the Occupancy Percentage
shall be 46%. For the period beginning on the day following the Actual Surrender Date until July
31, 2006, Section 36.2 of the Lease shall be amended to provide that (a) the Demised Premises shall
be deemed to contain a floor area of 48,663 square feet and (b) the Occupancy Percentage shall be
43%.

3

 

     6. SURRENDER OF ADDITIONAL SPACE. Tenant shall deliver the Additional Space to Landlord
by January 31,2003 in the same physical condition and state of repair that would apply to the
Additional Space as if January 31, 2003 were the Termination Date, January 31, 2003 is
hereinafter referred to as the “Scheduled Surrender Date”. The earliest date after the Scheduled
Surrender Date by when Tenant has delivered to Landlord the Additional Space in the physical
condition and state of repair as required hereunder is hereinafter called the “Actual Surrender
Date”, If the Actual Surrender Date fails to occur by the Scheduled Surrender Date, then, Tenant
shall be deemed a holdover tenant at sufferance for the Additional Space and shall be liable to
Landlord under Article 55 of the Lease as if the Scheduled Surrender Date were the Termination
Date. As of the Actual surrender Date, Exhibit A to the Lease shall be deemed to have excluded
therefrom the Additional Space. Nothing in this Fifth Amendment of Lease shall be deemed to
constitute a release or discharge of Tenant with respect to any outstanding and unsatisfied
obligation or liability, whether unbilled or calculated, accrued or incurred under the Lease,
such as, but not limited to, Minimum Rent, Adjusted Minimum Rent, additional rent and other charges
payable by Tenant in connection with the Additional Space, up to and including the Actual Surrender
Date.

     7. PARKING. For the period commencing on the Additional Space Commencement Date and
ending on the Scheduled Surrender Date, Tenant’s Allotted Parking referenced in Section 43.1 of the
Lease shall be for one hundred sixty eight (168) cars.

     8. BROKERAGE. Tenant represents that it has had no dealings or communications with any
real estate broker or agent
in connection with this Fifth Amendment of Lease. Tenant agrees to defend indemnify and hold
Landlord, its affiliates and/or subsidiaries and the partners, directors, officers of Landlord and
its affiliates and/or subsidiaries harmless from and against any and all costs, expenses or
liability (including attorney’s fees, court costs and disbursements) for any commission or other

4

 

FOURTH AMENDMENT OF LEASE

     This FOURTH AMENDMENT OF LEASE is made as of the 12th day of December
1996 between 5 INDEPENDENCE ASSOCIATES LIMITED PARTNERSHIP, a New Jersey limited partnership,
having an address c/o Bellemead Management Co., Inc., 280 Corporate Center, 4 Becker Farm Road,
Third Floor, Roseland, New Jersey 07068-3788 (hereinafter called “Landlord”) and TOTAL RESEARCH
CORPORATION, a New Jersey corporation, having an office at 5 Independence Way, Princeton, New
Jersey 0854Q (hereinafter called “Tenant”).

W I T N E S S E T H :

     WHEREAS:

     A. Bellemead Development Corporation, predecessor-in-interest to Landlord, and Tenant
heretofore entered into a certain lease dated December 2, 1985, as amended on July 31, 1986,
January 5, 1987, November 27, 1990 and December 27, 1995 (said lease as it was or may hereafter be
amended is hereinafter called the “Lease”) with respect to a portion (“Demised Premises”) of the
building known as 5 Independence Way, Princeton, New Jersey (“Building”); and

     B. Landlord and Tenant are desirous of amending the Lease in certain respects.

     NOW, THEREFORE, in consideration of the promises and mutual covenants hereinafter contained, the
parties hereto modify the Lease as follows:

     1. DEFINED TERMS. Except as specifically provided otherwise in this Fourth Amendment of
Lease, all defined terms contained in this Fourth Amendment of Lease, shall, for the purposes
hereof, have the same meaning ascribed to them in the Lease.

     2. CREDIT DEMAND NOTICE. As of the date hereof, the date
“December 31, 1996”, found on lines 3-4 of Paragraph 5.(A) to the Third Amendment of Lease dated as
of December 27, 1995 between Landlord and Tenant, shall be deemed changed to “March 31, 1997”.

 

 

     3. CORPORATE AUTHORITY. Tenant represents that the undersigned officer of
the Tenant corporation has been duly authorized on behalf of the Tenant corporation to enter into
this Fourth Amendment of Lease in accordance with the terms, covenants and conditions set forth
herein, and, upon Landlord’s request, Tenant shall deliver an appropriate certification by the
Secretary of the Tenant corporation to the foregoing effect.

     4. LEASE RATIFICATION. Except as expressly amended by this Fourth Amendment of
Lease, that certain Third Amendment of Lease dated December 27, 1995, that certain Second Amendment
of Lease dated November 27, 1990, that certain letter agreement dated July 31, 1986 and that
certain First Amendment of Lease dated January 5, 1987, the Lease, and all terms, covenants and
conditions thereof, shall remain in full force and effect and is hereby in all respects ratified
and confirmed.

     5. NO ORAL CHANGES. This Fourth Amendment of Lease may not be changed orally, but only by
a writing signed by both Landlord and Tenant.

     6. NO DEFAULT. Tenant confirms that (i) Landlord has complied with all of its
obligations contained in the Lease and (ii) no event has occurred and no condition exists which,
with the passage of time or the giving of notice, or both, would constitute a default by Landlord
under the Lease.

2

 

THIRD AMENDMENT OF LEASE

     This THIRD AMENDMENT OF LEASE is made as of the 27th day of December, 1995 between
5 INDEPENDENCE ASSOCIATES LIMITED PARTNERSHIP, a New Jersey limited partnership, having an address
c/o Bellemead Management Co., Inc., 280 Corporate Center, 4 Becker Farm Road, Third Floor,
Roseland, New Jersey 07068-3788 (hereinafter called “Landlord”) and TOTAL RESEARCH CORPORATION, a
New Jersey corporation, having an office at 5 Independence Way, Princeton, New Jersey 08540
(hereinafter called “Tenant”).

W I T N E S S E T H :

     WHEREAS:

     A. Bellemead Development Corporation, predecessor-in-interest to Landlord, and Tenant heretofore
entered into a certain lease dated December 2, 1985, as amended on July 31, 1986, January 5, 1987
and November 27, 1990 (said lease as it was or may hereafter be amended is hereinafter called the
“Lease”) with respect to a portion (“Demised Premises”) of the building known as 5 Independence
Way, Princeton, New Jersey (“Building”), for a term ending on December 31, 1996 or on such earlier
date upon which said term may expire or be terminated pursuant to any conditions of limitation or
other provisions of the Lease or pursuant to law; and

     B. Tenant is desirous of (i) increasing the size of the Demised Premises by the addition of 19,401
rentable square feet (“Additional Space”) on the second (2nd) floor of the Building, as illustrated
on Schedule A, attached hereto and made a part hereof, (ii) reducing the size of the Demised
Premises by surrendering 8,278 rentable square feet
(“Surrender Space”) on the third (3rd) floor of the Building, as illustrated on Schedule B,
attached hereto and made a part hereof and (iii) extending the term so that it expires on the last
day of the month in which month occurs the tenth (10th) anniversary of the Additional Space
Commencement Date (hereinafter defined in Paragraph
2).

 

 

     NOW, THEREFORE, in consideration of the promises and mutual covenants hereinafter contained,
the parties hereto modify the Lease as follows:

     1. DEFINED TERMS. Except as specifically provided otherwise in this Third Amendment of Lease,
all defined terms contained in this Third Amendment of Lease, shall, for the purposes hereof, have
the same meaning ascribed to them in the Lease.

     2. ADDITIONAL SPACE COMMENCEMENT DATE. The Demised Premises shall be deemed expanded to
include the Additional Space on the earlier of (“Additional Space Commencement Date”) (i) the date
Tenant takes possession of all or any part of the Additional Space or (ii) the date by when the
work described in Paragraph 3 hereof is substantially completed by Landlord. If the date referred
to in subsection (ii) of this Paragraph occurs prior to July 1, 1996 and Tenant does not
take possession of all or any part of the Additional Space prior to the date referred to in
subsection (ii) of this Paragraph, then, notwithstanding the first sentence of this Paragraph, the
Additional Space Commencement Date shall be July 1, 1996. The work described in Paragraph 3 hereof
shall be deemed substantially completed by Landlord on the date by when both of the following
conditions have been met: (a) Landlord has procured, if required, a temporary or permanent
certificate of occupancy, permitting occupancy of the Additional Space by Tenant and
(b) the Landlord’s architect shall determine that Landlord has substantially performed the
work described in Paragraph 3 hereof. Substantial completion by Landlord of the work described in
Paragraph 3 hereof shall be deemed to have occurred even though minor details of work remain to be
done, provided such details do
not materially interfere with the Tenant’s use of the Additional Space. As of the Additional Space
Commencement Date, the attached Schedule A shall be added to and become a part of Exhibit A (Rental
Plan) to the Lease. On or about the Additional Space Commencement Date, Landlord may deliver to
Tenant a notice (“Additional Space Commencement Date Notice”) confirming, among other things, the
inclusion of Additional Space within the Demised Premises as of the

2

 

Termination Date. The earliest date after the Requested Surrender Date by when Tenant has delivered
to Landlord the Surrender Space in the physical condition and state of repair as required hereunder
is hereinafter called the “Actual Surrender Date”. If the Actual Surrender Date fails to occur by
the Requested Surrender Date, then, Tenant shall be deemed a holdover tenant for the Surrender
Space and shall be liable to Landlord under Article 55 of the Lease as if June 30, 1996 were the
Termination Date. As of the Actual Surrender Date, Exhibit A (Rental Plan) to the Lease shall be
deemed to have excluded therefrom the Surrender Space, Nothing in this Paragraph shall be deemed to
constitute a release or discharge of Tenant with respect to any outstanding and unsatisfied
obligation or liability, whether unbilled or calculated, accrued or incurred under the Lease, such
as, but not limited to, Minimum Rent, Adjusted Minimum Rent, additional rent and
other charges payable by Tenant in connection with the Surrender Space, up to and including the
Actual Surrender Date.

     8. TERMINATION DATE. Notwithstanding anything to the contrary contained in the Lease,
the date set forth in the Lease for the expiration of the term thereof is hereby modified so that
the Termination Date shall be the last day of the month in which month occurs the tenth (10th)
anniversary of the Additional Space Commencement Date.

     9. MINIMUM RENT. The Lease is hereby amended to provide that the Minimum Rent, on
an annual basis, shall be:

(i) SEVEN HUNDRED NINETY FIVE THOUSAND ONE HUNDRED FIFTY THREE AND 42/100 DOLLARS ($795,153.42) for
the period commencing on the Additional Space Commencement Date and ending on the third (3rd)
anniversary of the
Additional Space Commencement Date, payable in
advance on the first day of each calendar month in equal monthly installments of SIXTY SIX
THOUSAND TWO HUNDRED SIXTY TWO AND 79/100 DOLLARS ($66,262,79);

(ii) ONE MILLION SEVENTEEN THOUSAND FIFTY SIX AND 70/100 DOLLARS ($1,017,056.70) for the
period commencing on the day immediately following the third (3rd) anniversary of the
Additional Space Commencement Date and ending on the seventh (7th) anniversary of the Additional
Space Commencement Date, payable in advance on the first day of each calendar

8

 

month in equal monthly installments of EIGHTY FOUR THOUSAND SEVEN HUNDRED FIFTY FOUR AND
73/100 DOLLARS ($84,754.73); and

(iii) ONE MILLION SEVENTY THOUSAND FIVE HUNDRED EIGHTY SIX AND 00/100 DOLLARS ($1,070,586.00) for
the period commencing on the day immediately following the seventh (7th) anniversary of the
Additional Space Commencement Date and ending on the Termination Date, payable in advance on the
first day of each calendar month in equal monthly installments of EIGHTY NINE THOUSAND TWO HUNDRED
FIFTEEN AND 50/100 DOLLARS ($89,215.50).

     10. ADDITIONAL SPACE LEASE AMENDMENT. Section 36.2 of the Lease shall be amended as of
the Additional Space Commencement Date to provide that (i) the Demised Premises shall be deemed to
contain a floor area of 48,663 square feet and (ii) the Occupancy Percentage shall be 43%. If,
however, the Actual Surrender Date does not occur by the Additional Space Commencement Date, then,
(a) for the period beginning on the Additional Space Commencement Date and ending on the day prior
to the Actual Surrender Date, Section 36.2 of the Lease shall be amended to provide that (A) the
Demised Premises shall be deemed to contain a floor area of 56,941 square feet and (B) the
Occupancy Percentage shall be 50.3% and (b) for the period beginning on and at all times after the
Actual Surrender Date, Section 36.2 of the Lease shall be amended as set forth in the first
sentence of this Paragraph.

     11. FIRST TAX YEAR. For purposes of computing the additional rent
accruing after the Additional Space Commencement Date that is due Landlord under Section 36.4(1) of
the Lease, as of the Additional Space Commencement Date, (A) Section 36.1(4) of the Lease shall be
deleted and replaced with the following new Section 36.1(4): “The First Tax Year shall mean the
calendar year ending December 31, 1996. Tax Year shall mean any calendar year thereafter;” and
(B) Section 36.1(2) of the Lease shall be deleted and replaced with the following new Section
36.1(2): “The Base Tax Rate shall mean the real estate tax rate in effect on the date of the Third
Amendment of Lease;”

     12. FIRST OPERATION YEAR. For purposes of computing the additional
rent accruing after the Additional Space Commencement

9

 

SECOND AMENDMENT OF LEASE

     This SECOND AMENDMENT OF LEASE is made as of the 27th day of November, 1990 between 5 INDEPENDENCE
ASSOCIATES LIMITED PARTNERSHIP, a New Jersey limited partnership, having an address c/o Bellemead
Management Co., Inc., 280 Corporate Center, 4 Becker Farm Road, Roseland, New Jersey 07068
(hereinafter called “Landlord”) and TOTAL RESEARCH CORPORATION, a New Jersey corporation, having an
office at 5 Independence Way, Princeton, New Jersey 08540 (hereinafter called “Tenant”).

W I T N E S S E T H :

     WHEREAS:

     A. Bellemead Development Corporation, predecessor-in-interest to Landlord, and Tenant
heretofore entered into a certain lease dated December 2, 1985, as amended on July 31, 1986 and
January 5, 1987 (said lease as it was or may hereafter be amended is hereinafter called the
“Lease”) with respect to a portion (“Demised Premises”) of the building known as 5 Independence
Way, Princeton, New Jersey (“Building”), for a term ending on December 31, 1991 or on such earlier
date upon which said term may expire or be terminated pursuant to any conditions of limitation or
other provisions of the Lease or pursuant to law;

     B. Tenant is desirous of increasing the size of the Demised Premises by the addition of some
5,278 rentable square feet (“Additional Space I”) on the third (3rd) floor of the Building as
illustrated on Schedule A, attached hereto and made a part hereof;

     C. Tenant is also desirous of further increasing the size of the Demised Premises by the addition
of some 3,000 rentable square feet (“Additional Space II”) on the third (3rd) floor of the Building
as illustrated on Schedule B, attached hereto and made a part hereof; and

     D. The parties desire to amend the Lease in certain other respects.

     NOW, THEREFORE, in consideration of the premises and mutual covenants hereinafter contained, the
parties hereto modify the Lease as follows:

 

     1. All defined terms contained in this First Amendment of Lease, shall, for the purposes
hereof, have the same meaning ascribed to them in the Lease.

     2. The Demised Premises shall be deemed expanded to include Additional Space I on the date
occurring five (5) days after Landlord sends Tenant a notice stating that Additional Space I is
free of any occupants (the date occurring five (5) days after
Landlord sends Tenant said notice is hereinafter referred to as
“Additional Space I Commencement Date*”). As of the Additional
Space I Commencement Date, the attached Schedule A shall be added to and become a part of Exhibit A
to the Lease. On or about the Additional Space I Commencement Date, Landlord shall deliver to
Tenant a notice (“Additional Space I Commencement Date Notice”) confirming, among other things, the
inclusion of Additional Space I within the Demised Premises as of the Additional Space I
Commencement Date. Tenant shall acknowledge receipt of the Additional Space I Commencement Date
Notice by signing a copy of same and returning it to Landlord within five (5) days after Tenant’s
receipt thereof.

     3. The Demised Premises shall be deemed further expanded to include Additional Space II on
February 1, 1992 (hereinafter referred to as “Additional Space II Commencement Date”). As of the
Additional Space II Commencement Date, the attached Schedule B shall be added to and become a part
of Exhibit A to the Lease. On or about the Additional Space II Commencement Date, Landlord shall
deliver to Tenant a notice (“Additional Space II Commencement Date Notice”) confirming, among
other things, the inclusion of Additional Space II within the Demised Premises as of the
Additional Space II Commencement Date. Tenant shall acknowledge receipt of the Additional Space II
Commencement Date Notice by signing a copy of same and returning it to Landlord within five (5)
days after Tenant’s receipt thereof.

     4. Notwithstanding anything to the contrary contained in the Lease, the date set forth in the
Lease for the expiration of the term thereof is hereby modified so that the Termination Date shall be December 31,
1996.

 

			
	*	 	Which shall not be before April 1, 1991

2

 

SECOND AMENDMENT OF LEASE

     This SECOND AMENDMENT OF LEASE is made as of the 27th day of November, 1990 between 5 INDEPENDENCE
ASSOCIATES LIMITED PARTNERSHIP, a New Jersey limited partnership, having an address c/o Bellemead
Management Co., Inc., 280 Corporate Center, 4 Becker Farm Road, Roseland, New Jersey 07068
(hereinafter called “Landlord”) and TOTAL RESEARCH CORPORATION, a New Jersey corporation, having an
office at 5 Independence Way, Princeton, New Jersey 08540 (hereinafter called “Tenant”).

     W I T N E S S E T
H :

     WHEREAS:

     A. Bellemead Development Corporation, predecessor-in-interest to Landlord, and Tenant
heretofore entered into a certain lease dated December 2, 1985, as amended on July 31, 1986 and
January 5, 1987 (said lease as it was or may hereafter be amended is hereinafter called the
“Lease”) with respect to a portion (“Demised Premises”) of the building known as 5 Independence
Way, Princeton, New Jersey (“Building”) , for a term ending on December 31, 1991 or on such earlier
date upon which said term may expire or be terminated pursuant to any conditions of limitation or
other provisions of the Lease or pursuant to law;

     B. Tenant is desirous of increasing the size of the Demised Premises by the addition of some
5,278 rentable square feet (“Additional Space I”) on the third (3rd) floor of the Building as
illustrated on Schedule A, attached hereto and made a part hereof;

     C. Tenant is also desirous of further increasing the size of the Demised Premises by the addition
of some 3,000 rentable square feet (“Additional Space II”) on the third (3rd) floor of the Building
as illustrated on Schedule B, attached hereto and made a part hereof; and

     D. The parties desire to amend the Lease in certain other respects.

     NOW, THEREFORE, in consideration of the premises and mutual covenants hereinafter contained, the
parties hereto modify the Lease as follows:

 

 

     5. The Lease is hereby amended to provide that the Minimum Rent, on an annual basis, shall
be:

(i) FIVE HUNDRED TWENTY SIX THOUSAND SEVEN HUNDRED SIXTEEN AND 00/100 DOLLARS

($526,716.00) for the period commencing on January 1, 1988 and ending one (1) day prior to the
date occurring four (4) months after the Additional Space I Commencement Date, payable in advance
on the first day of each calendar month in equal monthly installments of FORTY THREE THOUSAND EIGHT
HUNDRED NINETY THREE AND 00/10 DOLLARS ($43,893.00);

(ii) SIX HUNDRED TWENTY ONE THOUSAND SEVEN HUNDRED TWENTY AND 00/100 DOLLARS ($621,720.00) for the
period commencing on the date occurring four (4) months after the Additional Space I Commencement
Date and ending one (1) day prior to the Additional Space II Commencement Date, payable in advance
on the first day of each calendar month in equal monthly installments
of FIFTY ONE THOUSAND EIGHT
HUNDRED TEN AND 00/100 DOLLARS ($51,810.00); and

(iii) SIX HUNDRED SEVENTY FIVE THOUSAND SEVEN HUNDRED TWENTY AND 00/100 DOLLARS ($675,720.00) for
the period commencing on the Additional Space II Commencement Date and ending on the Termination
Date, payable in advance on the first day of each calendar month in equal monthly installments of
FIFTY SIX THOUSAND THREE HUNDRED TEN AND 00/100 DOLLARS ($56,310.00).

     6. Section 36.2 of the Lease shall be amended as of the Additional Space I Commencement Date to
provide that (i) the Demised Premises shall be deemed to contain a floor area of 34,540 square feet
and (ii) the Occupancy Percentage shall be 30.5 percent.

     7. Section 36.2 of the Lease shall be further amended as of the Additional Space II Commencement
Date to provide that (i) the Demised Premises shall be deemed to contain a floor area of 37,540
square feet and (ii) the Occupancy Percentage shall be 33.15 percent.

     8. As
of the date hereof, delete from Section 57.1 of the Lease the phrase “with a copy to:
Sanford Grossman, Esq., Simpson, Thacher & Bartlett, one Battery Park Plaza, New York, New York
10004”.

     9. As of the date hereof, Article 60 shall be deleted from the Lease.

     10. If, on the date hereof, Landlord receives from Tenant security in the form of (y) $100,000.00
cash or (z) a $100,000.00

3

 

FIRST AMENDMENT OF LEASE

     THIS
AGREEMENT is made this 5th day of January, 1987 between 5 INDEPENDENCE ASSOCIATES
LIMITED PARTNERSHIP, a New Jersey limited partnership, having an
address c/o Bellemead, 4 Becker
Farm Road, Roseland, New Jersey 07068 (“Landlord”) and TOTAL RESEARCH CORPORATION, a New Jersey
corporation, having an address at 5 Independence Way, Princeton, New Jersey 08540 (“Tenant”).

INTRODUCTION

     Landlord and Tenant have previously entered into a certain Agreement of Lease with Rider to Lease
dated December 2, 1985

(the “Lease”) for a portion of the fourth (4th) floor (the “Demised Premises”) in the building
located at 5 Independence Way, Princeton, New Jersey 08540 (“Building”).

     Tenant is desirous of increasing the size of the Demised Premises by the addition of some 12,262
square feet on the fourth (4th) floor (“Additional Space”) as illustrated on Exhibit A attached hereto and made a part
hereof. The parties hereto desire to modify the Lease in certain respects.

AGREEMENT

     Landlord and Tenant hereby agree as follows:

     1. The Demised Premises shall include
the Additional Space on a date (“Additional Space Commencement Date”) which shall be the
day when either (i) Substantial Completion (as defined in Section 37.1 of the Rider to
Lease) of the Additional Space occurs or (ii) Tenant or anyone claiming’ under or through
Tenant first occupies the Additional Space for the conduct of its business, whichever
occurs earlier.

 

 

31, 1991 (“Termination Date”).

     3. The Additional Space shall be completed and prepared for Tenant’s occupancy in the
manner, and subject to the terms, conditions and covenants set forth on Exhibit B. attached
hereto and made a part hereof. The services, materials and work to be so furnished, installed
and performed in the Additional Space by Landlord are hereinafter referred to as “Tenant’s Work”.

     4. In connection with Tenant’s Work, Tenant shall prepare a final plan or final set of plans
and specifications (“Final Plan”) which shall contain complete information and dimensions
necessary for the construction and finishing of the Additional
Space and for the engineering in connection therewith.

     5. Landlord shall grant Tenant an allowance in the amount of
Six and 00/100 Dollars ($6.00)
per useable square foot contained within the Additional Space less TWENTY TWO THOUSAND FIVE
HUNDRED FIFTY FOUR AND 00/100 DOLLARS ($22,554.00) pursuant to that certain letter agreement
between Landlord and Tenant dated October 16, 1986 said allowance shall be applied in reduction
of Tenant’s obligation to pay Landlord all costs and expenses incurred by Landlord in performing
Tenant’s “extra work”
(defined in Paragraph E.1. of Exhibit B). The difference between the cost of Tenant’s Work and
said allowance
plus an additional $2.50 per useable square foot
shall be paid by Landlord to Tenant to be applied toward moving, decorating and  telephone
installation, and shall be reimbursed to Tenant by Landlord within thirty (30) days following
the Additional Space Commencement Date.

     6. The Agreement of Lease is hereby amended to provide that Tenant shall pay to Landlord an
annual minimum rent (“Minimum Rent”) at the rate of FIVE HUNDRED TWENTY SIX THOUSAND SEVEN HUNDRED
SIXTEEN AND 00/100 DOLLARS ($526,716.00), payable in advance in equal monthly installments of
FORTY THREE THOUSAND EIGHT HUNDRED NINETY THREE AND 00/100 DOLLARS ($43,893.00).

     7. Article 37.3 of the Rider to Lease is hereby amended to provide that the Rent Commencement
Date shall be January 1, 1988.

     8. Article 36.2 of the Rider to Lease shall be deemed as of the Additional Space Commencement
Date to provide that (i) the

-2-

 

29,262
square feet, and (ii); the Occupancy percentage shall be 26 percent.

     9. The first sentence of Article 33 is hereby deleted and the following shall be deemed
inserted as the new first sentence of Article 33: “Tenant
has deposited with Landlord the sum
of $87,786.00 as security for the faithful performance and observance by Tenant of the
terms, provisions and conditions of this Lease:”

     10. The first sentence of Article 64.1 is hereby deleted and the following shall be deemed
inserted as the new first sentence of Article 64.1: “Tenant, in lieu of cash, may deliver to
Landlord an irrevocable negotiable Letter of Credit (the “Letter of Credit”) issued by and drawn
on a bank or trust company in form and content reasonably acceptable to Landlord for the account
of Landlord, in the amount of $87,786.00.”

     11. The following Article 65 shall hereby be added to the Rider of Lease:

          65. ADDITIONAL SECURITY

          65.1 Supplementing the requirements of paragraph 33 of the Printed Portion of this Lease and
Section 64.1 of the Rider to Lease, Tenant shall deposit with Landlord no later than
February 1, 1987 an additional sum in the amount of $131,689.00 as further security
(“Additional Security”) for the faithful performance and observance by Tenant of the terms,
provisions and conditions of this Lease.

          65.2 Tenant, in lieu of cash, may deliver to Landlord an irrevocable negotiable Letter of
Credit (“Letter of Credit for Additional Security”) issued by and drawn on a bank or trust company
in form and content reasonably acceptable to Landlord for the account of Landlord, in the amount
of $131,689.00. The Letter of Credit for Additional Security shall be for one year and shall be
renewed by Tenant each and every year until the termination of this Lease. Each renewal shall be
delivered to Landlord not less than 60 days before the expiration of the then current Letter of
Credit for Additional Security. Failure to deliver such new Letter of Credit for Additional
Security on or before said date shall be a material breach of this Lease and Landlord shall have
the right, among other remedies provided hereunder, to present for payment the existing Letter of
Credit for Additional Security.

          65.3 At Tenant’s election, Tenant may, in lieu of delivering $131,689.00 or the Letter
of Credit for Additional Security, furnish Landlord no later than December 7, 1986 a personal
guarantee in form satisfactory to Landlord (“Personal Guarantee”) executed individually by the
President and Chief Executive Officer of Tenant (“Guarantor”) as security for the faithful
performance and observance by Tenant of the terms, conditions and provisions of this Lease.

-3-

 

STANDARD FORM OF OFFICE LEASE

AGREEMENT
OF LEASE, made as of this 2nd day of December 1985, between BELLEMEAD
DEVELOPMENT CORPORATION, a Delaware corporation, having an office at 4 Becker Farm Road, Roseland,
New Jersey 07068 (the “Landlord”), and TOTAL RESEARCH CORPORATION, a New Jersey corporation,
having an address at 352 Wall Street, Princeton, New Jersey 08540  (the “Tenant”).

WITNESSETH: Landlord hereby leases to Tenant and Tenant hereby hires from Landlord a portion of
the fourth floor of a certain office building located at 5 Independence Way, Princeton, New
Jersey (the “Premises” or “Demised Premises”), more particularly shown upon the Rental Plan
annexed hereto and made a part thereof as Exhibit “A,” for a term commencing and terminating
as set forth in Article 37 of the Rider to Lease.

          The annual minimum rent (the “Minimum Rent”) for the Premises shall be Three Hundred Six
Thousand Dollars ($306,000.00) payable monthly in advance in equal installments of Twenty-Five
Thousand Five Hundred Dollars ($25,500.00) on the first day of each calendar month during the
term of this lease. Rent for any partial month at the commencement or termination of the term
of this Lease shall be appropriately prorated.

          Installments of Minimum Rent payable hereunder shall be paid at the office of Landlord or
at such other place as Landlord may designate from time to time by written notice to Tenant
hereunder.

 

 

RIDER TO LEASE 

          Dated: December 5, 1985

	 	 	 
	LANDLORD:

	 	BELLEMEAD DEVELOPMENT CORPORATION
	 
	 	 
	TENANT:

	 	TOTAL RESEARCH CORPORATION
	 
	 	 
	PREMISES:

	 	A portion of the fourth floor

	 

	 	5 Independence Way

	 

	 	Princeton, New Jersey

          36. DEFINITIONS; DEMISED PREMISES; ADJUSTED MINIMUM RENT

          36.1 Definitions. For purposes of this Article, the following terms shall have the
meanings set forth below:

          (1) Assessed Valuation shall mean the assessed valuation of the Real Estate for the
First Tax Year, as such assessed valuation is or may be ultimately determined by
final administrative or judicial proceedings, or by abatement by an
appropriate taxing authority;

          (2) Base Tax Rate shall mean the real estate tax rate in
effect on the date of this Lease;

          (3) First Operating Year shall mean the calendar year ending December 31, 1986.
Operating Year shall mean any calendar year thereafter;

          (4) First Tax Year shall mean the calendar year in which the Building is assessed as a
completed building. Tax Year shall  mean any calendar year thereafter;

          (5) Land shall mean the land described in Exhibit C to this Lease;

          (6) Occupancy Percentage shall mean the percentage of Tenant’s occupancy of the
entire Building;

          (7) Real Estate Tax Base shall mean the amount
determined by multiplying the Assessed Valuation by the Base Tax Rate;

          (8) Taxes shall mean all real estate taxes, charges and
assessments imposed upon the Land, Building and other improvements thereon (collectively, the “Real
Estate”). If and to the extent that due to change in the method of taxation or assessment, any
franchise, capital stock, capital gains, rent, income, profit or any other tax or charge shall be
substituted in whole or in part for the current ad valorem Taxes now or hereafter imposed upon the
Real Estate, such franchise, capital stock, capital gains, rent, income, profit or other tax or
charge shall be deemed included in the term “Taxes” for the purposes of this Article;

          36.2 The Demised Premises shall be deemed to contain a floor area of 17,000 square feet
and the building of which the Demised Premises form a part (“Building”) shall be deemed
to contain a total floor area of 113,244 square feet. Tenant’s Occupancy Percentage
shall be 15.0 percent. Landlord represents that of the 17,000 rentable square feet, 14,500
square feet will be usable by Tenant. Of the total floor area, (113,244 square feet)
the Building contains 96,574 usable square feet. The

 

 

6, 1985, and (ii) the Plans shall have been approved by December 16, 1985 (the
“Estimated Commencement Date”). Notwithstanding the above, the commencement date
(“Commencement Date”) as defined, fixed and ascertained in this Article shall be the date upon
which the work required to be performed by the Landlord pursuant to the Work Letter attached
hereto as Exhibit “B” (the “Work”), shall be substantially completed. The Work shall be
deemed to be substantially completed (“Substantial Completion”) for all purposes hereunder, on
the earlier of the date upon which:

          A. (i) Landlord has procured a temporary or permanent Certificate of Occupancy,
permitting occupancy of the Demised Premises, by the Tenant; and (ii) the Landlord’s
architects shall have certified that Landlord has substantially performed the
Work. Substantial Completion shall be deemed to have occurred even though minor
details of work remain to be done, provided such details do not materially interfere with
the Tenant’s use of the Demised Premises,

or

          B.
Tenant shall have taken possession of all or any part of the Demised Premises.

          37.2 On or after determination of the Commencement Date
as above provided. Landlord shall deliver to Tenant a notice (“Commencement Date Notice”)
fixing the Commencement Date and termination date which shall be a date five (5) years and
seven (7) months after the Commencement Date (“Termination Date”).

          37.3 The date upon which Tenant’s obligation for the payment of the Minimum Rent and
Adjusted Minimum Rent hereunder shall commence (“Rent Commencement Date”) shall be
deemed to be nineteen months after the Commencement Date.

          37.4 If, prior to the Commencement Date, Tenant shall enter the Demised Premises to
make any installations of its equipment, fixtures and furnishings. Landlord shall have
no liability or obligation for the care or preservation of Tenant’s property.

          37.5 Landlord agrees to provide access to the telephone company during the course of
construction, to permit Tenant’s installations of telephones. However, the parties
agree that the failure of the telephone company to complete the telephone installation
and to provide service shall not delay or defer the
determination of the Commencement Date or the Rent Commencement Date and the obligation of
tenant to pay rent therefrom.

          37.6 Anything contained in this Article 37 to the contrary notwithstanding, if for
any reason the Premises are not ready for occupancy on the Estimated Commencement Date, this
Lease shall nevertheless continue in full force and effect; the Commencement Date shall be
postponed until substantial completion has occurred and the Rent Commencement Date shall be
postponed for a like number of days. The Termination Date shall be adjusted to provide the
full term set forth in Section 37.2 hereinabove. Anything contained in this Article 37 to the
contrary notwithstanding. Landlord agrees that in the event the Demised Premises are not
substantially complete on or prior to the “Outside Date” as hereinafter defined Tenant shall
have the option to terminate and cancel this Lease, provided, however, that Tenant shall have
served written notice of its election under this

-5-

 

Article to
cancel and terminate the Lease within five (5) days following said Outside Date.
For purposes of this Article, Outside Date shall be defined as May 1, 1986, subject to an extension
for any delays which are attributable to Tenant, its agents, or its employees. If Tenant shall
fail to deliver notice to terminate and cancel this Lease, this lease shall remain in full force
and effect. The rights granted to Tenant in this paragraph to terminate the Lease are conditioned
upon Tenant’s execution of the Lease by December 27, 1985 and delivery of the Plans to Landlord by
December 16, 1985.

          38. LANDLORD’S WORK; LANDLORD’S WORK LETTER

          38.1 Annexed hereto as Exhibit “B” and made a part hereof is Landlord’s work letter (the
“Work Letter”). Tenant agrees that it shall either approve Landlord’s drawings or
provide to Landlord on or before the 16th day of December, 1985, such drawings and
specifications (the “Plans”), a preliminary version of which is attached hereto as Exhibit
“F”, required by Landlord for Tenant’s layout, partitioning, electrical, reflecting
ceiling and other installations for the approval and acceptance of Landlord. Landlord
shall furnish and install in accordance with such Plans, so much of the work required by
Tenant by the above Plans as allowed by Landlord’s Work Letter, and attached
itemized list in Exhibit G (the “Item List”) at no additional cost to Tenant. To the
extent Tenant’s final drawings require work, the cost of which is not in excess of 104% of
the cost contemplated by the Work Letter or the Item List, such work shall be reduced to
an “Extra or Change Order” to be executed by both Landlord and Tenant, which shall
indicate the work required, the cost thereof, and the additional time required, if any, for
completion. Tenant shall be responsible for any delays in completing the
Demised Premises by reason of Tenant’s failure to furnish Landlord with the requisite
approvals and drawings.

          38.2 Anything contained in this Article 38 and the Work
Letter to the contrary notwithstanding, Landlord agrees to credit (the “Relocation Credit”) towards
the cost of relocation expenses an amount equal to $5,000. The Relocation Credit shall only be
applicable towards the cost of relocation expenses and Landlord shall remit to Tenant an amount
equal to the Relocation Credit within thirty (30) days after the Commencement Date.

          39. HEATING, AIR-CONDITIONING AND VENTILATION;
LEGAL HOLIDAYS; “AFTER HOURS”

          39.1 Notwithstanding the provisions of subsections (b) and (e) of Article 28 of this
Lease, but subject to all of the other terms, covenants and conditions of said Article 28,
Landlord shall provide and furnish appropriate heat, air-conditioning, or ventilation
to the Demised Premises between the hours of 8:00 A.M. and 6:00 P.M., Monday through Friday,
other than Legal Holidays (which are listed on Exhibit “E”), attached to this Lease.

          39.2 At all other times not otherwise provided for in Section 39.1 above. Landlord
agrees that it shall, upon prior written request from Tenant, provide after-hours
air-conditioning, ventilation or heating, as the case may be, for which Tenant
shall pay to Landlord as additional rent hereunder, a sum equal to $75.00 per hour for
providing heat, and $75.00 per hour for providing air-conditioning, that being intended to
cover

-6-

 

Year. Thereafter, if for any subsequent Lease year the average tenant occupancy
of the Building is below ninety-five (95%), the Building Operating Costs for any such year
shall be adjusted by Landlord to the amount that such Building Operating Costs would have
been if the average tenant occupancy during that year had been ninety-five (95%) percent.

          36.6 If, pursuant to any Tax Statement or Operating Statement showing Taxes or
Building Operating Costs for any year subsequent to the First Tax Year or First Operating
Year, respectively, there shall be an additional amount payable or a refund due
with respect to Taxes and/or Building Operating Costs for the period covered by such
statement(s), the amount payable by the Tenant to the Landlord as additional rent or the
amount due to the Tenant as a refund, shall be calculated and paid accordingly. If
such calculation takes place and/or any payment in connection therewith becomes payable
after the expiration of the term of this Lease, this provision shall be deemed to Have
survived such
expiration. However, it is agreed by the parties that any refund shall not in any way
operate to reduce the Minimum Rent.

          36.7 Any increase in additional rent under this Article shall be prorated for the
final Operating Year if such Operating Year covers a period of less than twelve (12) full
months. Tenant’s obligation to pay additional rent under this Article for the final
Operating Year shall survive the expiration of the term of this Lease.

          36.8. In the event that the payment of any sum required to be paid by Tenant to Landlord under
this Lease (including, without limiting the generality of the
foregoing, Minimum Rent, Adjusted
Minimum Rent, or payment made by Landlord under any provision of this Lease for which Landlord is
entitled to reimbursement by Tenant) shall become overdue for 15 days beyond the date on which they
are due and payable as provided in this Lease*, then a delinquency service charge equal to four
percent of the amount overdue shall become immediately due and payable to Landlord as liquidated
damages for Tenants’ failure to make prompt payment. Further, such delinquency service charge
shall be payable on the first day of the month next succeeding the month during which such late
charges become payable as additional rent, together with interest on the amounts overdue from the
date on which they became due and payable. In the event of nonpayment of any delinquency service
charges and interest provided for above, Landlord shall have, in addition to all other rights and
remedies, all the rights and remedies provided for herein and by law in the case of nonpayment of
rent. No failure by Landlord to insist upon the strict performance by Tenant of Tenant’s
obligations to pay late charges shall constitute a waiver by Landlord of its rights to enforce the
provisions of this Section 36.8 in any instance thereafter occurring. The provisions of this
Section 36.8 shall not be construed in any way to extend any notice period provided for in this
Lease.

          37. COMMENCEMENT OF TERM; ESTIMATED COMMENCEMENT
DATE; COMMENCEMENT DATE AND TERMINATION DATE;
RENT COMMENCEMENT DATE

          37.1 The parties intend that the Lease shall commence on or about March 1, 1986 provided
that the following shall have occurred: (i) Tenant shall have executed this Lease by December

 

			
	*	 	More than once in any 12 month period

-4-EX-10.1

 

Exhibit 10.1

May 1, 2005

Mr. Michael S. Lipscomb

Argo-Tech Corporation

23555 Euclid Avenue

Cleveland, OH 44117-1795

Dear Mr. Lipscomb:

     Reference is hereby made to the agreement dated October 15, 1986 by and between Argo-Tech
Corporation (“Argo-Tech”) and yourself.

Argo-Tech proposes that the Agreement be amended as follows:

In the event a “Change in Control” (as hereinafter defined) occurs and you remain employed
by Argo-Tech on a full time basis through the effective date of the Change in Control,
Argo-Tech shall pay you in a single lump sum on the effective date of the Change in Control,
the amounts due under the last paragraph of Paragraph 1 of the Agreement. Upon any such
payment, the Agreement shall be cancelled and of no further force and effect.

A “Change in Control” shall have occurred if any of the following events shall occur:

	 	(i)	 	AT Holdings Corporation (“the Company”) is merged or consolidated or
reorganized into or with another corporation or other legal person, and as a result of
such merger, consolidation or reorganization less than a majority of the combined
voting power of the then-outstanding securities of such corporation or person
immediately after such transaction are held in the aggregate by the holders of “Voting
Stock” (as that term is hereafter defined) of the Company immediately prior to such
transaction;
	 
	 	(ii)	 	A majority of the Company’s Voting Stock is transferred to a corporation or
other legal person other than the current holders of the Company’s Voting Stock;
	 
	 	(iii)	 	The Company sells or otherwise transfers all or substantially all of its
assets to any other corporation or other legal person and less than a majority of the
combined voting power of the then-outstanding securities of such corporation or person
immediately after such sale or transfer is held in the aggregate by the holders of
Voting Stock of the Company immediately prior to such sale or transfer;
	 
	 	(iv)	 	If there is a report filed on Schedule 13D or 14D-1 pursuant to the Securities
Exchange Act of 1934 (the “Act”), disclosing that any person (under Section

Argo-Tech Corporation

23555 Euclid Avenue Cleveland, OH 44117-1795 USA

Phone: (216) 692-6000 www.argo-tech.com

 

 

Mr. Michael S. Lipscomb

May 1, 2005

Page 2

	 	 	 	13(d)(3) or Section 14(d)(2) of the Act) has become the beneficial owner (under Rule
13d-3) of securities representing 20% or more of the then-outstanding Voting Stock
of the Company; or
	 
	 	(v)	 	The Company shall file a report or proxy statement with the SEC pursuant to the
Act disclosing under Item 1 of Form 8-K thereunder or Item 6(e) of Schedule 14A
thereunder (or any successor schedule, etc.) that a Change in Control of the Company
has or may have occurred or will or may occur in the future pursuant to any
then-existing contract or transaction.

Anything herein to the contrary notwithstanding, a Change in Control shall not be deemed to
occur because (A) an entity in which the Company directly or indirectly controls a majority
of the voting securities, (B) any Company sponsored employee stock ownership plan or
employee benefit plan (or entity holding voting shares pursuant to such plan) or (C) former
and current employees of the Company either directly or indirectly or both own a majority of
the Voting Stock of the Company.

For the purpose of this Section, a corporation controlled by a corporate holder of Voting
Stock shall be deemed to be the same holder of Voting Stock. A legal person with respect to
which a holder of Voting Stock could make a “Permitted Disposition” pursuant to Section 3.01
of that certain 1994 Stockholders’ Agreement dated May 17, 1994 among certain of the holders
of Voting Stock shall be deemed to be the same holder of Voting Stock.

“Voting Stock shall mean the Company’s Voting Stock.

     Except as expressly amended hereby, the Agreement shall remain in full force and effect in
accordance with its terms.

     If you are in agreement, please so indicate by signing the enclosed copy of this letter and
return it to me.

	 	 	 	 	 
	 	ARGO-TECH CORPORATION

 	 
	 	By  	/s/ Frances S. St. Clair
 	 
	 	 	Frances S. St. Clair 
	 

	Its:	 	Executive Vice President and	 
	 

	 	 	Chief Financial Officer	 

ACCEPTED AND APPROVED

	 	 	 
	          /s/ Michael S. Lipscomb
 

	 	 
	Michael S. Lipscomb

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