Document:

exhibit10-21.htm

     

     

     

     

    Form of Building Lease Agreement

     

     

     

     

     

    by and between 

     

     

     

     

     

    Lessor: Alpha Electronics
Corporation

     

    and

     

    Lessee: Vishay Japan Co., Ltd.

     

     

     

     

     

    - 1 - 

     

    

    
    

    Summary of Lease
(Building Lease Agreement) 

     

    
    

     

    
      	
              (1) 

            	
              Lessor

            	
              Alpha
      Electronics K.K.

            
	(2)	
              Lessee

            	
              Vishay Japan
      Co., Ltd. 

            
	
              (3)

               

            	
              Building 

               

            	
              Name

            	
              VJQC
      

            
	Location	
            
	Structure and
Size 	
            
	Total area of
the building 	
            
	(4)	
              Purpose

            	
              Products
      inspection center 

            
	(5)	
            	
              Rent
      

            	
              Consumption
tax
      

            	
              Sub total
      

            
	
              Monthly
      Rent

            	
              295,000
      yen

            	14,750 yen	309,750 yen
	Security Deposit
(12 months
      worth of
monthly rent)	
              3,540,000
      yen

            
	Starting day of
rent
	
              [                                 ],
      2010

            
	(6)	
              Term of lease 

            	
              5 years from
      the delivery date 

            
	(7)	
              Special provisions 

            	
              	5 parking lots within Akita
        Facility (see Article 8 below)
                  
	Use of cafeteria of Akita
        Facility (see Article 8 below) 

            

    

     

    - 2 - 

     

    

    
    

    Building Lease Agreement 

     

    This Building Lease
Agreement (hereinafter referred to as the “Agreement”) is made and entered into by and between
Alpha Electronics K.K. (hereinafter referred to as the “Lessor”) and Vishay Japan Co., Ltd. (hereinafter
referred to as the “Lessee”) relating to the
Building that is to be leased by the Lessor to the Lessee and that is the
subject of the lease set forth in Column (3) of Summary of Lease (marked with
shaded area of the drawing set forth in Exhibit 1) (hereinafter referred to as
the “Building”) in the Akita Facility of the Lessee (“Akita
Facility”), as follows. 

     

    Article 1 (Lease of
Building) 

    
    

     

    
      	        	
              In accordance
      with the provisions of this Agreement, the Lessor shall lease the Building
      to the Lessee, and the Lessee shall lease the Building from the Lessor.
      

            

    

     

    Article 2 (Purpose)

    
    

     

    
      	        	
              The Lessee
      shall use the Building only for the purpose specified in Column (4) of
      Summary of Lease, and it may not use the Building for any other purposes
      unless the Lessee obtains prior written approval from the Lessor.
      

            

    

     

    Article 3 (Term of
Lease) 

    
    

     

    
      	1.       	
              The term of
      lease shall be as set forth in Column (6) of Summary of Lease and shall be
      automatically renewed on 5 year basis unless otherwise notified in writing
      by either party at least 6 months prior to the original or any extended
      term of the lease. 

            
	 	 
	2.	
              Notwithstanding
      paragraph 1 above, the Lessee may terminate the lease at any time by
      giving 6 months prior written notice.

            

    

     

    Article 4 (Rent)

    
    

     

    
      	        	
              In
      consideration for the lease, use of the 5 parking lots as set forth in
      Column (5) of Summary of Lease and the availability of the cafeteria in
      Akita Facility for employees of the Lessee and other valuable
      considerations, the Lessee agrees to pay the rent as set forth in Column
      (5) of Summary of Lease, and the payment of the monthly rent shall be made
      in advance before the end of each month immediately preceding the relevant
      month (when the payment day falls on a bank holiday, then on the previous
      business day) by means of bank transfer to the bank account designated by
      the Lessor. Such bank transfer fees shall be borne by the Lessee.
      

            

    

     

    

    
    

    Article 5 (Division
of Expenses to Be Borne) 

    
    

     

    
      	1.	
              The Lessor
      shall be responsible for expenses as listed below: 

            
	        	
            	
            
	 	(1)	
              Duties and
      taxes imposed on the Building and the premises including, but not limited
      to, the fixed assets tax and the city planning tax (excluding, however,
      those to be charged on facilities or fixtures, etc that the Lessee adds to
      the Building and the premises.); 

            
	
            	        	
            
	
            	(2)	
              Water charges;
      

            
	
            	 	
            
	
            	(3) 	
              Costs and
      expenses relevant to repairing works required to maintain and manage the
      Building itself and attached facilities (excluding, however, costs and
      expenses relevant to repairs and maintenance, replacement or renewal of
      fixtures set forth in Article 11); 

            
	
            	 	
            
	
            	(4)	
              Any and all
      costs and expenses other than those to be borne by the Lessee as set forth
      in the following Paragraph 2; 

            
	
            	 	
            
	2.	
              The Lessee
      shall be responsible for expenses as listed below: 

            
	
            	 	
            
	
            	(1) 	
              Electricity
      charges, and for this purpose the Lessee shall install a separate meter
      for electricity; 

            
	
            	 	
            
	
            	(2) 	
              Costs and
      expenses relevant to the repairs and maintenance, replacement or renewal
      of fixtures set forth in Article 11; 

            
	
            	 	
            
	
            	(3) 	
              Costs and
      expenses that are determined to be borne by the Lessee through mutual
      negotiations between the Lessor and the Lessee; and 

            
	
            	 	
            
	
            	(4)	
              Any and all
      consumption tax and local consumption tax relevant to those set forth
      above. 

            
	
            	 	
            
	
              Article 6
      (Security Deposit) 

            
	 	
            	
            
	1.
      	
              The Lessee
      shall furnish the Lessor with a security deposit in the amount set forth
      in Column (5) of Summary of Lease
      as the initial security deposit prior to the first day of the term of the
      lease by means of bank transfer to the Bank Account designated by the
      Lessor. 

            
	
            	 	
            
	2.	
              The handling of
      the security deposit set forth in the preceding Paragraph shall be as
      follows: 

            
	
            	 	
            
	
            	(1) 	
              The security
      deposit does not accrue interest. 

            
	
            	 	
            
	
            	(2) 	
              During the term
      of the lease, the Lessee may not demand to set off its payment obligations
      of the rent, or any other liabilities to the Lessor against the security
      deposit. 

            
	
            	 	
            
	
            	(3) 	
              In the event of
      default or liabilities of the Lessee concerning obligations set forth in
      this Agreement, including, but not limited to, delayed payment of the
      rent, the Lessor may, at any time, after notifying the Lessee thereof,
      appropriate a part or the whole of the security deposit for such.
      

            
	
            	 	
            
	
            	(4) 	
              In accordance
      with the Item (3) above, if the Lessor appropriates the security deposit
      for the liabilities of the Lessee, the Lessee shall make the security
      deposit whole by payment of the shortfall within five (5) business days
      after the receipt of notice of appropriation. 

            
	
            	 	
            
	3.
      	Upon termination of this Agreement
      and after the completion of surrender of the Building by the Lessee
      pursuant to the provisions of Article 15, the Lessor shall immediately
      repay the balance of the security
      deposit after appropriating such to fill unpaid rent, restoration
      expenses, and any and all liabilities that the Lessee is responsible for
      and owing to the Lessor under this Agreement up to the completion of
      surrender. 

    

    
    

     

    - 2 - 

     

    
    

     

    

    
    

    
      	
              Article 7 (Care
      of Good Manager) 

            
	        	        	
            
	
            	
              The Lessee
      shall use the Building with the due care of a good manager.
    

            
	 	
            	
            
	
              Article 8
      (Cafeteria and Parking Lots) 

            
	 	
            	
            
	
            	
              During the term
      of the lease the Lessor shall furnish the following services:
    

            
	 	
            	
            
	
            	(1) 	
              Use of and
      access to the cafeteria in the Akita Facility by the employees of the
      Lessee, and, with a prior notice and approval, visitors and other persons
      concerned ; and 

            
	 	
            	
            
	
            	(2) 	
              Use of 5
      parking lots in the Akita Facility for the employees of the Lessee, and,
      with a prior notice and approval, temporary use of the parking space by
      visitors and other persons concerned. 

            
	 	
            	
            
	
              Article 9
      (Alternation of Original Conditions) 

            
	 	
            	
            
	
            	
              The Lessee
      shall obtain prior written approval of the Lessor to do the following:
      

            
	 	
            	
            
	
            	
            	
              (1) Creation,
      addition, removal, improvement or redecoration, etc. of partitions,
      fittings or other fixtures and facilities; 

            
	 	
            	
            
	
            	
            	
              (2) New construction, addition or
      improvement of electrical facilities, plumbing and sanitary facilities,
      air-conditioning, gas, telephone and cable broadcasting system, etc.;
      

            
	 	
            	
            
	
            	
            	
              (3) Display or
      representation of trade names, trade marks and other marks on entrance
      doors, outer walls, windows, etc.; 

            
	 	
            	
            
	
            	
            	
              (4)
      Installation of money safe, and delivery and installation of other heavy
      items; 

            
	 	
            	
            
	
            	
            	
              (5) Replacement
      of the key of an entrance door; and 

            
	 	
            	
            
	
              Article 10
      (Cleaning, Etc.) 

            
	 	
            	
            
	1.
      	
              Cleaning
      services relevant to the Building shall be made by the Lessee at Lessee’s
      expenses. 

            
	 	
            	
            
	2.
      	
              General waste
      and industrial waste resulting from occupancy of the Building shall be
      disposed of by the Lessee at its expenses and in its responsibility.
      

            
	 	
            	
            
	
              Article 11
      (Repairs) 

            
	 	
            	
            
	1.
      	
              If a repair is
      or seemingly will be required because of damages or malfunction regarding
      the Building and the
      furniture and fixtures, and facilities owned by or under management of the
      Lessor, the Lessee shall notify the Lessor of the same promptly. Repairs
      that the Lessor acknowledges necessary upon the receipt of the notice from
      the Lessee shall be carried out by the Lessor at the Lessor’s expenses.
  

            

    

     

    - 3 - 

     

    

    
    

    
      	2.
      	
              Notwithstanding
      the Paragraph 1 above, the Lessee is responsible for and makes the repairs
      of the Building listed below at its expenses, regardless of the amount and
      the Lessor shall not bear any responsibility for any such repairs,
      monetary or not. 

            
	        	        	
            
	
            	(1)	
              Repairs
      relevant to fittings, lightning appliances, etc. under the ownership of
      the Lessee in the Building; 

            
	 	
            	
            
	
            	(2) 	
              Small repairs
      or normal wear and tear of walls, ceilings, floors, etc. in the Building;
      

            
	 	
            	
            
	
            	(3) 	
              Repairs of
      damages attributable to the Lessee; 

            
	 	
            	
            
	
            	(4) 	
              Repairs
      regarding fixtures, work pieces or facilities under the ownership of the
      Lessee; 

            
	 	
            	
            
	3.
      	
              The Lessee
      shall cooperate with the Lessor in repairs, improvements or betterment
      (including maintenance accompanied by stoppage of power or water supply;
      hereinafter the same) of the Building, its facilities, or other
      maintenance works, etc. carried out by the Lessor. 

            
	 	
            	
            
	
              Article 12
      (Expenses on Assets under the Ownership of the Lessee) 

            
	 	
            	
            
	
            	
              The Lessee
      shall be responsible for duties and taxes imposed on fixtures, facilities
      and other assets that the Lessee owns in the Building (regardless of the
      title or name). 

            
	 	
            	
            
	
              Article 13
      (Obligation to Compensate for Damages) 

            
	 	
            	
            
	1. 	
              If the Lessor
      or any other third party suffers damage or expense (including those
      suffered as a result of a claim from a third party) in connection with
      this Agreement due to willful misconduct or negligence of the Lessee or
      its agent, employee, subcontractor, visitor or other person concerned, the
      Lessee shall immediately notify the Lessor thereof and with respect to the
      matters attributable to the Lessee or its agent, employee, subcontractor,
      visitor or other party concerned, immediately compensate for any such
      damage or expense by restoring the Building to its original status or by
      other method at its own cost in accordance with the Lessor’s instructions.
      

            
	 	
            	
            
	2. 	
              If the Lessee
      or the Lessor fails to pay the amount payable to the other party under
      this Agreement or agreements incidental to this Agreement by the date
      designated under this Agreement or such agreements, such defaulting party
      shall pay to the other the default interest at an annual rate of 14.5%
      until the same is paid in full (calculated on a per diem basis of 365 days
      per year; any fraction smaller than one (1) yen shall be rounded down).
      Provided, however, that neither party shall be automatically excused from
      the termination of this Agreement by the other party even if such default
      interest is paid. 

            
	 	
            	
            
	
              Article 14
      (Termination of this Agreement) 

            
	 	
            	
            
	1. 	
              If either party
      commits a material breach with respect to its obligation to the other
      party set forth in this Agreement
      (including but not limited to a failure to pay the rent) and does not
      rectify such breach or failure within thirty (30) days (or seven (7) days
      in the case of monetary obligation) after receiving the written notice
      from the other party requiring such breach to be remedied, the other party
      may terminate this Agreement upon written notice to the defaulting party.
      

            

    

     

    - 4 - 

     

    

    
    

    
      	2. 	
              The Lessor may
      immediately terminate this Agreement without the requirement of any
      proceedings such as a notice to the Lessee in the event of any of the
      following acts or facts in respect of the Lessee. 

            
	        	        	
            
	
            	(1) 	
              When failing to
      pay the rent or other obligations for two (2) months or longer or delaying
      the payment several times; 

            
	 	
            	
            
	
            	(2) 	
              When being
      subject to provisional attachment (kari sashiosae), provisional disposition (kari shobun), compulsory execution (kyosei shikko), disposition for failure to pay tax
      (taino shobun), disposition for the suspension of
      business at a bank (ginko torhiki teishi
      shobun) or similar
      action; 

            
	 	
            	
            
	
            	(3) 	
              When a
      resolution of dissolution is passed, or a petition for the commencement of
      bankruptcy (hasan) proceedings, civil rehabilitation
      (minji saisei) proceedings, corporate reorganization
      (kaisha kosei) proceedings, special liquidation
      (tokubetsu seisan) proceedings or any other similar
      proceeding is filed; 

            
	  	
            	
            
	
            	(4) 	
              If there is a
      fact that causes the social credit to be significantly lost or act that is
      contrary to public order and good morals. 

            
	 	
            	
            
	
              Article 15
      (Obligation to Surrender) 

            
	 	
            	
            
	1. 	
              If this
      Agreement is terminated in accordance with Articles 14 or for any other
      reason, the Lessee shall (1) remove at the Lessee’s cost the fixtures,
      works or facilities installed in or added to the Building or changed by
      the Lessee and furnishings held or used by the Lessee, (2) remove the
      properties installed or added by the Lessor at the request of the Lessee
      and deliver them at the Lessee’s cost, and (3) surrender and return the
      Building to the Lessor after restoring the Building to its original status
      by repairing at the Lessee’s cost any breakage or breakdown or wear or
      tear (excluding normal wear and tear) caused due to special use by the
      Lessee with respect to the Building, fixtures or facilities.
    

            
	 	
            	
            
	2. 	
              If the Lessee
      fails to restore the Building to its original status in accordance with
      Articles 15.1, the Lessor or a person designated by the Lessor shall
      remove the fixtures, facilities and furnishings and repair any breakage or
      breakdown or wear or tear caused due to special use by the Lessee with
      respect to the Building, fixtures or facilities and the Lessor may request
      that the Lessee pay the cost thereof. 

            
	 	
            	
            
	3. 	
              If the Lessee
      does not remove its properties in the Building even after this Agreement
      is terminated and the Building is
      surrendered by the Lessee, the Lessor may, at its discretion, dispose of
      such properties considering that the Lessee has assigned such properties
      to the Lessor for free. In such case, the Lessor may request that the
      Lessee pay the cost for removing such properties. If such properties were
      owned by a third party, the Lessee shall indemnify the Lessor for damages
      claimed by such third party and any other expenses borne by the Lessor so
      long as the Lessor is in good faith and without negligence.
      

            

    

     

    - 5 - 

     

    

    
    

    
      	4. 	
              Upon the
      surrender of the Building, the Lessee shall not make any claims against
      the Lessor regardless of the reasons or nature of such claims, including
      any claim for the reimbursement of the necessary expenses or useful
      expenses incurred by the Lessee in connection with the Building,
      compensation for moving or removal, or key money. In addition, the Lessee
      shall not request that the Lessor purchase fixtures and facilities
      installed in the Building at the Lessee’s cost. 

            
	        	        	
            
	
              Article 16
      (Damages Incurred until Completion of Surrender) 

            
	 	
            	
            
	
            	
              If the Lessee
      fails to surrender the Building upon termination of this Agreement, the
      Lessee shall pay to the Lessor damages equivalent to twice the amount of
      the rent for the period from the day following the date of termination of
      this Agreement to the date of completion of the surrender.
  

            
	 	
            	
            
	
              Article 17
      (Entry) 

            
	 	
            	
            
	1. 	
              Unless
      otherwise required by law or ordinance, the Lessor shall not enter into
      the Building without prior written consent of the Lessee; provided,
      however, that the Lessee shall not unreasonably withhold such approval in
      case where, in the reasonable judgment of the Lessor, there exists any
      dangerous condition causing damage or injury to the Building or neighbors
      or neighboring Building. If any damage occurs due to rejection by the
      Lessee of such approval, the Lessee shall indemnify from and hold the
      Lessor and any third party harmless against any damage suffered thereby.
      

            
	 	
            	
            
	2. 	
              If the Lessor
      or a person designated by the Lessor enters the Building in accordance
      with Article 17.1, the entering party shall keep any trade secret of the
      Lessee obtained upon the entry in confidence not only during the term of
      this Agreement but also after the termination of this Agreement and shall
      not divulge it to a third party. 

            
	 	
            	
            
	
              Article 18
      (Exemption of Liability) 

            
	 	 	
            
	
            	
              The Lessor
      shall not be liable for any damage incurred by the Lessee due to cause,
      such as force majeure, fire, theft, riot, or damage or operation of the
      Building, equipment for electricity, water or air conditioning, or other
      equipment, unless the Lessor fails to act with the due care of a good manager or commits
      willful misconduct or gross negligence.

            

    

     

    - 6 - 

     

    

    
    

    
      	
              Article 19
      (Confidentiality) 

            
	        	        	
            
	 	
              Neither the
      Lessor nor the Lessee shall disclose the information about the parties
      concerned obtained under or in connection with this Agreement to a third
      party unless the disclosure is necessary under the Applicable Laws or upon
      request from the governmental authorities or otherwise agreed between the
      parties, or shall use it for any other purpose than the purpose of this
      Agreement.. 

            
	 	
            	
            
	
              Article 20
      (Amendment to this Agreement) 

            
	 	
            	
            
	
            	
              The provisions
      of this Agreement may be amended or modified only with the written consent
      of both parties. 

            
	 	
            	
            
	
              Article 21
      (Jurisdiction) 

            
	 	 	
            
	
            	
              The Lessor and
      the Lessee agree that any dispute arising in connection with this
      Agreement shall be submitted to the exclusive jurisdiction of the Tokyo
      District Court as the court of first instance. 

            
	 	
            	
            
	
              Article 22
      (Good Faith Consultation) 

            
	 	
            	
            
	
            	
              Any doubts in
      relation to the interpretation or application of the provisions of this
      Agreement or any matters not provided for in this Agreement shall be
      resolved upon consultation in good faith between the Lessor and the Lessee
      in accordance with the related laws and ordinances and customs.
      

            
	 	
            	
            
	
              Article 22
      (Negotiation for the Purchase of the Building) 

            
	 	
            	
            
	
            	
              The Lessor
      hereby grants to the Lessee the first refusal right (the “Option”) to buy
      the Building and the underlying land (the “Real Building”) exercisable
      during the term of the lease, subject to the terms and conditions
      mentioned below:

            
	 	
            	
            
	
            	(a) 	
              The Lessor and
      the Lessee shall determine the size of the underlying land and identify
      the boundaries of parcel of such land; 

            
	 	
            	
            
	
            	(b) 	
              The price for
      the Real Building shall be the average market price appraised by two real
      Building appraisers practicing in Akita, each one of them appointed by the
      Lessor and the Lessee, respectively; 

            
	 	
            	
            
	
            	(c) 	
              The Lessor and
      the Lessee shall negotiate in good faith the terms and conditions of the
      Service Agreement for the use by the Lessee of the cafeteria and the
      parking lots in the Akita Facility. 

            
	 	
            	
            
	
            	(d)	
              If the Lessee
      and the Lessor agree to the matters mentioned in (a) to (c) above, the
      terms and conditions of such sale
      and purchase shall be those as may be generally used in the sale and
      purchase agreements for real properties for factory use in Akita;
      Provided, however, that the Lessee may designate a third party nominated
      by the Lessee as the buyer from among Migdal Company.
    

            

    

     

    - 7 - 

     

    

    
    

    IN WITNESS WHEREOF,
the parties caused this Agreement to be signed and sealed in duplicate, and each
party shall retain one copy. 

     

         Date:
[                    ]

     

     

     

                   Lessor:

     

     

     

                   Lessee:

     

    - 8 - 

     

    

    
    

    Exhibit 1 

     

    Drawing of the Leased
Space 

     

    

     

    - 9 -exhibit10-22.htm

    FORM OF LEASE
AGREEMENT

     

    This lease agreement
(the “Lease”) is entered into on [ ], 2010, between Vishay Intertechnology, Inc.
(“Lessor”), a Delaware corporation, having its principal place of business at 63
Lancaster Avenue, Malvern, Pennsylvania, and Vishay Precision Group, Inc.
(“Lessee”), a Delaware corporation, having its principal place of business at
_________________________, Pennsylvania. 

     

    RECITALS

     

    The parties recite
and declare:

     

    A. Lessor is the sole
owner of an industrial facility, described below, a portion of which it desires
to lease to Lessee (the “Industrial Facility”).

     

    B. Lessee is a
corporation that desires and is empowered to lease from Lessor a portion of the
Industrial Facility.

     

    C. The parties desire
to enter into this Lease to define their respective rights, duties, and
liabilities concerning this Lease.

     

    In consideration of
the mutual covenants contained in this Lease, the parties agree as follows:

     

    SECTION ONE

     

    A. Lessor leases to
Lessee that portion of Lessor’s Industrial Facility located at 63 Lancaster
Avenue, Malvern, Pennsylvania, described on Schedule A annexed
hereto and made a part hereof (the “Leased Premises”). In addition to the Leased
Premises, Lessee and its invitees shall have the non-exclusive right to use, in
common with Lessor and other tenants, those applicable areas within the
Industrial Facility, including the entrances, roads, driveways, public and fire
stairways, sidewalks, exterior ramps and
other similar areas which enable Lessee to obtain full use and enjoyment of the
Leased Premises for all customary purposes. 

     

    

    
    

    B. The Leased
Premises will be leased in “as is” condition and used by Lessee solely for the
purpose of conducting quality assurance activities and operating demo-kit
laboratories in accordance with the terms of this Lease. 

     

    SECTION TWO

     

    The term of the Lease
shall be for a period of five (5) years (the
“Term”), commencing [__________] (the “Commencement Day”), provided Lessee shall
have the right, without penalty or liability, to terminate this Lease for any
reason or no reason prior to the scheduled expiration of the Term upon not less
than thirty (30) days’ prior written notice to Lessor.

     

    SECTION THREE

     

    Lessee shall pay an
annual rent of $73,704 (Seventy Three Thousand Seven Hundred and Four Dollars)
(“Rent”) during the Term of this Lease for the Leased Premises. All payments of
Rent shall be payable by Lessee in equal monthly installments of $6,142 (Six
Thousand One Hundred and Forty Two Dollars) in advance on the first day of each
calendar month. Rent for any partial calendar months included in the Term shall
be prorated on a per diem basis. Except as expressly set forth to the contrary
herein, Lessee shall not be obligated to pay any sum in addition to Rent to
Lessor on account of Lessee’s occupancy of the Leased Premises, the parties
intending this Lease to be a “gross lease”. 

     

    Rent payable by
Lessee pursuant to this Lease includes all expenses for water, HVAC,
electricity, trash collection, sewer, plumbing, all other utilities reasonably
consumed in the Leased Premises, two phone lines, Real Property Taxes (as
defined below) and, except to the extent caused by the negligence or willful
misconduct of Lessee, maintenance, repair and replacement of the Leased Premises
including security services. As used herein, the term “Real Property Taxes”
shall be deemed to mean the aggregate amount of all taxes and assessments
directly levied, assessed or imposed upon the Leased Premises, its land and
improvements. 

     

    SECTION FOUR

     

    A. Lessee has
examined and knows the condition of the Leased Premises and accepts the Leased
Premises in good condition and working order. Lessee acknowledges that no representations as to the
repair of the Leased Premises or promises to alter, remodel, or improve the
Leased Premises have been made by Lessor.

     

    2

     

    

    
    

    B. Lessee shall not
hold Lessor liable for any latent or non latent defects on the Leased
Premises.

     

    SECTION FIVE

     

    A. Lessee shall
maintain the Leased Premises in a clean and operational condition and, subject
to the provisions of Section 10(C), repair at Lessee’s sole cost all damages to
the Leased Premises occasioned by the fault or negligence of Lessee or its
agents or employees.

     

    B. Except for
Lessee’s obligations set forth in Section Five(A) above, Lessor shall be
responsible at Lessor’s sole cost and expense for all maintenance, repairs and
replacements to the Leased Premises and the Industrial Facility. Upon not less
than one (1) business day’s notice to Lessee, Lessor may enter the Leased
Premises at any and all reasonable hours to inspect the Leased Premises and to
perform Lessor’s obligations under this Lease. In connection with any such
entry, Lessor shall use reasonable efforts to minimize any interference with the
use of the Leased Premises by Lessee.

     

    C. Lessor shall
furnish all of the following services to the Leased Premises twenty four (24)
hours per day, seven (7) days per week: (i) heat, air conditioning and water
required for the occupancy of the Leased Premises, (ii) access to the Leased
Premises and the Industrial Facility, including elevators if applicable, (iii)
snow and ice removal, (iv) janitorial services to the Leased Premises Monday
through Friday, (v) electricity adequate for Lessee’s use of the Leased Premises
and the Industrial Facility, and (vi) such other services typical for an
industrial building similar to the Industrial Facility.

     

    SECTION SIX

     

    Lessee shall obtain
the written approval of Lessor, not to be unreasonably withheld, conditioned or
delayed, prior to making any alterations or modifications to the Leased
Premises. All approved and completed alterations or modifications shall become
part of the Leased Premises and title to such alterations and modifications
shall vest in Lessor. The alterations or modifications undertaken by Lessee
shall be performed and completed in a good and workmanlike manner.

     

    3

     

    

    
    

    Upon the expiration
of the tenancy hereby created, if Lessor so requires in writing at the time of
its approval, Lessee shall promptly remove at its sole cost any alterations,
additions, improvements and fixtures other than trade fixtures placed in the
Leased Premises by Lessee and designated in said request, and repair any damage
occasioned by such removal at Lessee’s expense. Notwithstanding the foregoing,
Lessee may install any necessary trade fixtures, equipment and furniture in the
Leased Premises without Lessor’s written approval and all such items shall
remain the property of Lessee during and after the Term. 

     

    SECTION SEVEN

     

    A. Lessee shall not
use the Leased Premises for any unlawful or immoral purpose and shall not
conduct any activity in the Leased Premises that could reasonably be expected to
increase the possibility of fire or any other hazard or materially increase the
rate of insurance on the Leased Premises or the Industrial Facility. Lessee
further covenants that it will not create, maintain or permit a nuisance in or
on the Leased Premises. Lessee further agrees to keep the Leased Premises clean
and reasonably free from rubbish and dirt at all times, and shall store all
trash within the areas designated by Lessor at the Leased Premises and will make
the same available for regular pick-up. Lessee will not burn any trash or
garbage at any time in or about the Industrial Facility.

     

    B. Lessee, at
Lessee’s sole cost and expense, shall promptly comply with the laws, ordinances
and regulations regarding Lessee’s particular use of the Leased Premises.
Lessor, at Lessor’s sole cost and expense, shall promptly comply with all laws,
ordinances and regulations applicable to the Leased Premises and the Industrial
Facility except for compliance that is Lessee’s responsibility pursuant to the
previous sentence. 

     

    C. Lessee shall not
cause any Hazardous Materials to be released, brought upon, stored, produced,
emitted, disposed of or used upon, about or beneath the Leased Premises by
Lessee, its agents, employees, contractors or invitees in violation of
Environmental Laws. As used herein, the term “Hazardous Materials” shall mean
any substance or condition (including mold) that could pose a threat to human
health and any flammable, explosive or radioactive materials, asbestos,
formaldehyde foam insulation, polychlorinated biphenyls, methane, hazardous
materials, hazardous wastes, hazardous or toxic substances or related materials,
as defined in the Comprehensive Environmental Response Compensation and
Liability Act of 1980, as amended (42 U.S.C. Sections 9601, et seq.), the
Hazardous Materials Transportation Act, as amended (49 U.S.C. Sections 1801, et
seq.), the Resource Conservation and
Recovery Act, as amended (42 U.S.C. Sections 6901, et seq.), the Toxic
Substances Control Act, as amended (15 U.S.C. Sections 2601, et seq.)
(collectively, “Environmental Laws”).

     

    4

     

    

    
    

    SECTION EIGHT 

     

    Except as otherwise
provided in this Lease, Lessee agrees that it will not pledge, loan, mortgage,
or attempt in any other manner to dispose of its interest in the Leased Premises
or to voluntarily permit any liens, encumbrances, or legal process to be
incurred or levied on the Leased Premises. 

     

    SECTION NINE

     

    A. Lessee shall not
assign its rights and duties under this Lease or sublease the demised Leased
Premises or any part of the demised Leased Premises. 

     

    B. Lessor, at any
time and from time to time, may make an assignment of its interest in this
Lease, the Leased Premises or the Industrial Facility and in the event of such
assignment and the assumption by the assignee of the covenants and agreements to
be performed hereunder by Lessor, Lessor shall be released from any and all
liability hereunder. 

     

    SECTION TEN

     

    A. Except for
negligent or willful acts or omissions of Lessor, its agents, contractors,
servants and employees (collectively, “Lessor Parties”) and subject to the
provisions of Section 10(C), Lessee agrees to indemnify and save Lessor Parties
harmless from and against any and all claims, demands, damages, costs and
expenses, including reasonable attorneys’ fees (collectively, “Loss and
Expense”), arising from or in connection with the Leased Premises. Except for
negligent or willful acts or omissions of Lessee, its agents, contractors,
servants or employees (collectively, “Lessee Parties”) and subject to the
provisions of Section 10(C), Lessor agrees to indemnify and save Lessee Parties
harmless from and against any and all Loss and Expense arising from any failure
by Lessor to perform any of the terms, covenants or conditions of this Lease on
Lessor’s part to be performed or the negligence or willful misconduct of Lessor
Parties. The provisions of this Section Ten shall survive the termination or
earlier expiration of this Lease.

     

    5

     

    

    
    

    B. Lessee will, at
its own expense, maintain a policy or policies of comprehensive general
liability insurance which will include coverage for theft with respect to the
respective property and
activities in the Leased Premises with the premiums thereon fully paid on or
before due date, issued by and binding upon a reputable insurance company, such
insurance to afford minimum protection of not less than $1,000,000 combined
single limit coverage of bodily injury, property damage or combination thereof.
Lessor shall be listed as an additional insured on Lessee's policy or policies
of comprehensive general liability insurance, and Lessee shall provide Lessor
with current certificates of insurance evidencing Lessee's compliance with this
Section. Lessee shall obtain the agreement of Lessee's insurers to endeavor to
notify Lessor that a policy is due to expire at least (10) days prior to such
expiration. Lessor shall only be required to maintain its standard insurance for
the building of the Leased Premises.

     

    C. Lessor and Lessee
each hereby release the other, its officers, directors, employees and agents,
from liability or responsibility (to the other or anyone claiming through or
under them by way of subrogation or otherwise) for any loss or damage to
property covered (or required under this Lease to be covered) by valid and
collectible insurance, even if such loss or damage shall have been caused by
fault of negligence of the other party, or anyone for whom such party may be
responsible. Lessor and Lessee each agree that any insurance policies carried by
either party covering the Leased Premises or their contents will include a
waiver of the insurer’s right of subrogation against the other party during the
Term. 

     

    SECTION ELEVEN

     

    A. Lessee shall not
be deemed to be in default hereunder unless an Event of Default, as hereinafter
defined, has occurred. The following shall constitute events of default by
Lessee hereunder (each, an “Event of Default”): 

     

         i. Failure to pay the Rent or any other sum of
money required to be paid by Lessee hereunder when due and continuance of such
failure for five (5) days after notice from Lessor to Lessee; or 

     

         ii. Failure to comply with or perform any of
the other terms, covenants, conditions or agreements to be complied with or
performed by Lessee and continuance of such failure for thirty (30) days after
notice from Lessor to Lessee, or, if the failure is of such a character as
cannot reasonably be cured within thirty (30) days, failure to initiate within
said thirty (30) day period such action as reasonably can be taken toward curing
the same and/or failure to prosecute such action as promptly as is reasonably
practicable after said action is initiated. 

     

    6

     

    

    
    

    B. Following the
occurrence of an Event of Default hereunder, Lessor shall have the right
to:

     

    (1) reenter and regain possession of the Leased Premises upon ten (10)
days prior written notice to Lessee, remove any property of Lessee found on the
Leased Premises, perform such maintenance and repairs as may be reasonably
required, and relet the Leased Premises upon commercially reasonable terms,
provided all consideration received by Lessor as a result of such reletting
shall be for the account of Lessee. Reentry shall not release Lessee from the
obligation to make payments of Rent or other amounts due pursuant to this Lease,
including Lessor’s reasonable and actual expenses incurred in preparing the
Leased Premises for reletting; or

     

    (2) terminate this Lease, such termination to be effective ten
(10) days following receipt by Lessee of written
notice of Lessor’s intention to terminate this Lease but Lessee shall remain
liable for all its outstanding obligations pursuant to this Lease prior to the
effective date of such termination. 

     

    C. If at any time
during the term of this Lease (a) Lessee shall file in any court a petition of
bankruptcy or insolvency or for reorganization, or for arrangement or for the
appointment of a receiver or trustee of all of all or portion of Lessee’s
property; or (b) an involuntary petition of any kind shall be filed against
Lessee, and such petition shall not be vacated or withdrawn within sixty (60)
days after the date of filing thereof; or (c) if Lessee shall make an assignment
for the benefit of creditors; or (d) if the Lessee shall be adjudicated a
bankrupt; or (e) a receiver shall be appointed for the property of Lessee by
order of a court of competent jurisdiction (except where such receiver shall be
appointed in an involuntary proceeding, if he shall not be withdrawn within
sixty (60) days from the date of the appointment), Lessee’s right to possession
hereunder shall terminate ipso facto upon the happening of any one of such
events, and Lessee shall then quit and surrender the Leased Premises to Lessor,
but Lessee shall remain liable for all its outstanding obligations pursuant to
this Lease. 

     

    D. In the event of
any Event of Default hereunder by Lessee, Lessor may immediately or at any time
thereafter, upon five (5) days prior written notice to Lessee and provided such
Event of Default remains uncured, cure such breach for the account and at the
expense of Lessee. 

     

    7

     

    

    
    

    SECTION TWELVE

     

    Lessee shall
surrender the Leased Premises (including all keys thereto) to Lessor on the
expiration or termination of this Lease. At the time of surrender, the Leased
Premises shall be in the same condition as on the Commencement Day, normal wear
and tear, casualty, condemnation and acts of Lessor excepted. If the Leased
Premises are not surrendered at the end of the Term or the sooner termination
thereof, (i) Lessee shall be deemed to be occupying the Leased Premises as a
tenant from month to month, at a monthly Rent equal to twice the Rent payable
during the last month of the Term, and (ii) Lessee shall indemnify Lessor
against loss or liability resulting from Lessee’s delay in so surrendering the
Leased Premises and first arising or accruing on or after sixty (60) days
following the expiration or termination of this Lease, excluding consequential,
indirect, punitive and special damages.

     

    SECTION THIRTEEN

     

    Lessee agrees that
this Lease shall be subordinate to any mortgages or deeds of trust that may
hereafter be placed upon the Leased Premises and to any and all advances to be
made thereunder, and to the interest thereon, and all renewals, replacements and
extensions thereof provided that any such mortgagee or trustee thereunder agrees
to recognize Lessee’s rights hereunder and to not disturb Lessee’s use and
occupancy of the Leased Premises. Lessee shall execute and deliver any
commercially reasonable instruments as may be required to confirm the provisions
of this Section 13. 

     

    SECTION FOURTEEN 

     

    A. It is agreed that
this Lease shall be governed by, construed, and enforced exclusively in
accordance with the laws of the Commonwealth of Pennsylvania. 

     

    B. LESSOR AND LESSEE
EXPRESSLY WAIVE TRIAL BY JURY IN ANY COURT WITH RESPECT TO ANY CLAIM,
COUNTERCLAIM OR CROSS-CLAIM AGAINST THE OTHER ARISING OUT OF OR CONNECTED IN ANY
WAY TO THIS LEASE. 

     

    C. Unenforceability
of any provision contained in this Lease shall not affect or impair the validity
of any other provision of this Lease. 

     

    D. Waiver by either
party of any breach of any covenant or duty of the other party under this Lease
shall not be deemed to be a waiver of a breach of any covenant or duty of the
other party, or of any subsequent breach of the same covenant or
duty.

     

    8

     

    

    
    

    E. This Lease may be
executed in any number of counterparts, each of which shall be deemed to be an
original, but all of which together shall constitute but one and the same
instrument. 

     

    F. The various rights
and remedies contained in this Lease shall not be considered as exclusive of any
other right or remedy, but shall be construed as cumulative and shall be in
addition to every other remedy now or hereafter existing at law, in equity, or
by statute.

     

    G. This Lease shall
constitute the entire agreement between the parties. Any prior understanding or
representation of any kind preceding the date of this Lease shall not be binding
upon either party except to the extent incorporated in this Lease. 

     

    H. Any modification
of this Lease or additional obligation assumed by either party in connection
with this Lease shall be binding only if evidenced in a writing signed by each
party. 

     

    I. Any notice
required or permitted under this Lease shall be in writing, sent by a reputable
private carrier of overnight mail or mailed by United States Certified Mail,
Return Receipt Requested, postage prepaid, in each case to the address set forth
below: 

     

    
      	If to
      Lessee:	If to
      Lessor:
	 	
            
	 	
            
	 	
            
	 	
            

    

    Either Lessor or
Lessee may, by notice to the other, change the address(es) to which notices are
to be sent. All notices shall be deemed effective upon receipt or upon refusal
to accept delivery. 

     

    J. This Lease shall
be binding upon and shall inure to the benefit of the parties hereto, their
executors, administrators, successors and permitted assigns. 

     

    K. Lessee shall have
the right to use ______ parking spaces located _______________. 

     

    9

     

    

    
    

    L. Lessee represents
that the undersigned individual has been duly authorized to execute this Lease
on behalf of Lessee and that the execution and consummation of this Lease by
Lessee does not and shall not violate any provision of any bylaws, certificate
of incorporation, partnership or agreement, or other agreement, order, judgment,
governmental regulation or any other obligations to which Lessee is a party or
is subject. Lessor represents that the undersigned individual has been duly
authorized to execute this Lease on behalf of Lessor and that the execution and
consummation of this Lease by Lessor does not and shall not violate any
provision of any bylaws, certificate of incorporation, partnership or agreement,
or other agreement, order, judgment, governmental regulation or any other
obligations to which Lessor is a party or is subject. 

     

     

     

    [The remainder of this
page left intentionally blank]

     

     

     

     

     

     

     

    10

     

    

    
    

         IN WITNESS WHEREOF the parties have executed
this Lease in duplicate originals upon the dates indicated below. 

     

    
      	        	VISHAY INTERTECHNOLOGY, INC.
	
            	 
	
            	 
	
            

    

    
      	        	By:	 

    

    
      	        	Printed Name:	 

    

    
      	        	Title:	 

    

    
      	        	Date:	 
	
            	 
	
            	 
	
            	VISHAY PRECISION GROUP, INC.
	
            	  
	
            	 

    

    
      	        	By:	 

    

    
      	        	Printed Name:	 

    

    
      	        	Title:	 

    

    
      	        	Date:	 

    

    11

     

    

    
    

    SCHEDULE A

     

    LEASED
PREMISES

     
 

    12

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