Document:

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                                                                   Exhibit 10.04

                                 LEASE EXTENSION

     We, the undersigned, hereby agree to renew and extend that lease (Lease)
between Sunbeam Properties, Inc. (Lessor) and Heartware, Inc. f/k/a Perpetual
Medical, Inc and successor to Kriton Medical, Inc. (Lessee) on property located
at 3351 Executive Way, Miramar, Broward County, Florida 33025, Florida, for an
additional one year, commencing May 1, 2004 and ending on April 30, 2005. The
monthly rent is to be as follows:

     $15,615.37 per month plus applicable sales tax from May 1, 2004 thru April
30, 2005, to be paid in advance on the 1st day of each month;

     Such payments are in addition to all other payments to be made under the
Lease by Lessee, including but not limited to Lessee's obligation to pay
increases in Expenses above the Base Year Expenses as described in Paragraphs 25
thru 28.

     Lessee and Lessor each represent to the other that CB Richard Ellis is the
only broker that may be due a commission from this Lease Extension. Such
commission, if due, shall be paid by Lessor.

     Within three (3) days of execution of this Lease Extension, Lessor shall
refund $14,300.25 of Lessee's security deposit to Lessor. This shall satisfy the
refund requirements of Lease Paragraph 45. The remaining balance of the security
deposit ($14,300.25) shall continue to be held by Lessor pursuant to the terms
of the Lease.

     All other terms and conditions will remain unchanged, except for:

     Paragraph 22: Replace "liability insurance containing a single limit of not
less than $500,000.00 for both property (including but not limited to fire
hazard) and bodily injury" with "liability insurance containing a single limit
of not less than $1,000,000.00 for both property (including but not limited to
fire hazard) and bodily injury".

     Paragraphs 36 & 37: These Paragraphs are hereby deemed null and void.

                                        LESSOR: Sunbeam Properties, Inc.

/s/ Clara Pink                          /s/ Andrew L. Ansin
-------------------------------------   ----------------------------------------
Witness Sign Name                       Andrew L. Ansin, V.P.

Clara Pink                              1/23/04
-------------------------------------   ----------------------------------------
Witness Print Name                      Date 1/23/04

/s/ Jamille McQueen
-------------------------------------
Witness Sign Name

Jamille McQueen
-------------------------------------
Witness Print Name

<PAGE>

                                        LESSEE: Heartware, Inc.

/s/ Mary D. Trueblood                   /s/ David McIntyre
-------------------------------------   ----------------------------------------
Witness Sign Name                       Sign

Mary D. Trueblood                       David McIntyre
Witness Print Name                      Print

                                        Chief Financial Officer
-------------------------------------   Title
Witness Sign Name

                                        1/9/04
-------------------------------------   Date
Witness Print Name<PAGE>
                                                                   Exhibit 10.05

                             SECOND LEASE EXTENSION

     We, the undersigned, hereby agree to renew and extend that lease (Lease)
between Sunbeam Properties, Inc. (Lessor) and Heartware, Inc. f/k/a Perpetual
Medical, Inc and successor to Kritan Medical, Inc. (Lessee) on property located
at 3351 Executive Way, Miramar, Broward County, Florida 33025, Florida, for an
additional three years, commencing May 1, 2005 and ending on April 30, 2008. The
monthly rent is to be as follows:

     $17,161.79 per month plus applicable sales tax from May 1, 2005 thru April
30, 2006;

     $17,654.78 per month plus applicable sales tax from May 1, 2006 thru April
30, 2007;

     $18,167.48 per month plus applicable sales tax from May 1, 2007 thru April
30, 2008.

     Such payments are in addition to all other payments to be made under the
Lease by Lessee, including but not limited to Lessee's obligation to pay
increases in Expenses above the Base Year Expenses as described in Paragraphs 25
thru 28.

     Lessee and Lessor each represent to the other that no broker is due a
commission from this Lease Extension.

     The security deposit in the amount of $14,300.25 shall continue to be held
by Lessor pursuant to the terms of the Lease.

     All other terms and conditions will remain unchanged.

                                        LESSOR: Sunbeam Properties, Inc.

/s/ Clara Pink                          /s/ Andrew L. Ansin
-------------------------------------   ----------------------------------------
Witness Sign Name                       Andrew L. Ansin, V.P.

Clara Pink                              2/20/05
Witness Print Name                      Date

/s/ Jamille McQueen
-------------------------------------
Witness Sign Name

Jamille McQueen
Witness Print Name
<PAGE>

                                        LESSEE: Heartware, Inc.

/s/ Iliana Garcia                       /s/ Jeffrey A. LaRose
-------------------------------------   ----------------------------------------
Witness Sign Name                       Sign

Iliana Garcia                           Jeffrey A. LaRose
Witness Print Name                      Print

/s/ Michael Ashenuga                    Chief Scientific Officer
-------------------------------------   Title
Witness Sign Name

Michael Ashenuga                        2/8/05
-------------------------------------   Date
Witness Print Name<PAGE>
                                                                   Exhibit 10.06

                               SUBLEASE AGREEMENT

     This SUBLEASE AGREEMENT ("Sublease") is made as of JUNE 1, 2006 by and
between Starkey Laboratories, Inc., a Minnesota corporation, having its
principal office at 6600 Washington Ave. South, Eden Prairie, Minnesota 55344
("Sublessor") and Heartware, Inc., a Florida corporation, having its principal
office at 3351 Executive Way, Miramar, Florida 33025 ("Sublessee"), individually
as a "Party" and collectively as the "Parties."

     RECITALS

     1. Sublessor leases approximately 14,617 rentable square feet of space (the
"Premises") in a building located at 3301 Executive Way, Miramar, Florida 33025
(the "Building"), pursuant to a "Business Lease" dated September 13, 1994
(attached hereto and made a part of as Exhibit A), as amended by a "Lease
Extension" Agreement dated March 29, 2005 (attached hereto and made a part of as
Exhibit B) by and between Sublessor as "Lessee" and Sunbeam Properties, Inc., a
Florida corporation, as Lessor ("Lessor");

     2. The Business Lease (Exhibit A) and Lease Extension Agreement (Exhibit B)
shall be referred to collectively herein as the "Lease";

     3. Sublessee wishes to sublet the entire Premises from Sublessor; and

     4. The Parties wish to set forth the terms and conditions on which
Sublessee shall sublet the Premises from Sublessor.

NOW, THEREFORE, in consideration of the rental payments to be made hereunder by
Sublessee to Sublessor and the mutual terms, covenants, and conditions set forth
herein, including without limitation the Recitals, Sublessor does hereby sublet
the Premises to Sublessee.

     1.   TERM.

          (a)  The term of this Sublease (the "Term") shall commence on JUNE 1,
               2006 (the "Commencement Date") and terminate on APRIL 30, 2008
               (the "Expiration Date"), unless terminated sooner or, extended
               under the terms of the Lease or this Sublease.

          (b)  Should the Lease terminate during the Term for any reason, other
               than the default of, or surrender of the Premises by Sublessor,
               the Sublease shall terminate with the same force and effect as if
               such Termination Date had been specified (in the Sublease) as the
               Expiration Date. Notwithstanding the foregoing, if the Lease
               gives Sublessor any right to terminate the Lease in the event of
               the partial or total damage, destruction, or condemnation of the
               Premises or the Building, the exercise of such right by Sublessor
               shall not constitute a default or breach by Sublessor.

          (c)  Possession of the Sublet Premises ("Possession") shall be
               delivered to Sublessee on the Commencement Date. If for any
               reason Sublessor does

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               not deliver Possession to Sublessee on the Commencement Date,
               Sublessor shall not be subject to any liability for such failure,
               the Termination Date shall not be extended by the delay, and the
               validity of this Sublease shall not be impaired, but rent shall
               abate until delivery of Possession. Notwithstanding the
               foregoing, if Sublessor has not delivered Possession to Sublessee
               by the close of business on the 30th day following the
               Commencement Date, Sublessee may, but shall not be required to,
               terminate this Sublease without further obligation upon written
               notice to Sublessor. In such event, Sublessor shall promptly
               return the entire Security Deposit to Sublessee.

          (d)  If Sublessor permits Sublessee to take Possession prior to the
               Commencement Date, such early Possession shall not advance the
               Termination Date and shall be subject to the provisions of this
               Sublease, including without limitation, payment of rent.

     2.   RENT.

          (a)  Sublessee covenants and agrees to pay Sublessor the following
               amounts during the Term:

               (i)  Base Rent payable in monthly installments in accordance with
                    the Rent Schedule set forth in the Lease Extension (Exhibit
                    B): "$14,188.23 per month plus applicable sales tax from
                    June 1, 2006 through April 30, 2007; and, $14,755.76 per
                    month plus applicable sales tax from April 30, 2007 through
                    April 30, 2008";

               (ii) As Additional Rent, an amount equal to Sublessor's
                    proportionate share of any and all maintenance, taxes or
                    other assessments imposed by Lessor on Sublessor pursuant to
                    Paragraphs 25, 26, and 27 of Exhibit A, including all
                    escalations of such amounts;

               (iii) As Additional Rent, an amount equal to electricity, gas and
                    similar charges for the Premises as described in Paragraph 8
                    of Exhibit A, within ten (10) days of Sublessor's receipt of
                    an invoice from Lessor; and

               (iv) As Additional Rent, such other sums of money as shall become
                    due and payable by Sublessor to Lessor pursuant to Exhibits
                    A or B due to the actions or inactions of the Sublessee in
                    default of this Sublease within thirty (30) days of
                    Sublessee's receipt of an invoice from Sublessor.

          (b)  The Base Rent and Additional Rent described above shall be paid
               to Sublessor at the address set forth in Section 14, or at such
               other place as Sublessor may designate on the first day of each
               month throughout the Term, without any notice, set off, or
               deduction. If Sublessee fails to pay any Base Rent or Additional
               Rent within ten (10) days after same is due,

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               such unpaid amount shall bear an eight percent (8%) late charge,
               which will be immediately due and payable. The payment of such
               late charge shall be in addition to all other rights and remedies
               available to Sublessor in the case of nonpayment of Base Rent or
               Additional Rent. For any partial month, the Base Rent and
               Additional Rent shall be prorated on the basis of a thirty (30)
               day month.

          (c)  Sublessee's obligation to make payments of Base Rent and
               Additional Rent shall survive the Expiration Date or earlier
               termination of the Sublease.

     3.   TAXES. Sublessee shall pay before delinquency all occupancy taxes
          relating to Sublessee's occupancy, all rent taxes payable with respect
          to the rent payable herein (See, Section 2), and all property taxes
          and assessments on the furniture, fixtures, equipment, and other
          property of Sublessee at any time situated on, or installed in the
          Premises.

     4.   USE. Sublessee shall use the Premises as a medical laboratory and
          research and development and manufacturing facility with offices
          ancillary thereto and for no other purpose. Sublessee shall use and
          occupy the Premises in a manner not inconsistent with the terms of the
          Lease. Sublessee shall comply, at Sublessee's sole cost and expense,
          with all applicable federal, state, and local laws, regulations,
          codes, ordinances, and administrative orders having jurisdiction over
          the Premises, including without limitation, the Americans with
          Disabilities Act, the 1964 Civil Rights Act, the Foreign Investment in
          Real Property Tax Act, the Comprehensive Environmental Response
          Compensation and Liability Act, and the Resource Conservation and
          Recovery Act, and all amendments to any such laws. Sublessee shall not
          be responsible for any liability or damages (including attorneys' fees
          and expenses) arising out of or relating to Sublessor's non-compliance
          with any of the foregoing on or prior to the date Sublessor takes
          Possession of the Premises.

     5.   COMPLIANCE WITH UNDERLYING LEASE.

          (a) Sublessee covenants and agrees, to the extent the same relates to
          the Premises, to observe and perform all terms, covenants, and
          conditions to be performed by Sublessor, as Lessee, under the Lease,
          and further covenants and agrees not to do or suffer or permit
          anything to be done which would result in a default under or cause the
          Lease to be terminated. All terms, covenants, and conditions of the
          Lease are incorporated herein with the same force and effect as if
          herein set forth in full and wherever the term "Lessee" occurs in the
          Lease the same shall be deemed to refer to Sublessee and wherever the
          term "Lessor" occurs in the Lease, the same hall be deemed to refer to
          Sublessor, except as limited by Section 6 below. However, all grace
          and cure periods specified in the Lease shall, for purposes of
          determining compliance by Sublessee with the provisions herein, be
          each reduced by two (2) days.

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          (b) Sublessor represents and warrants that, as of the date hereof and
          as of the date it delivers Possession to Sublessee, the Lease shall
          constitute the entire contractual arrangement between Lessor and
          Sublessor with regard to the Premises and be in full force and effect,
          and no default shall have occurred and be continuing thereunder. This
          representation and warranty shall survive the execution, delivery and
          performance of this Sublease. During the term of this Sublease,
          Sublessor shall make all payments to Lessor required under the Lease
          as and when due, without offset or deduction.

     6.   PERFORMANCE BY LESSOR. Sublessor does not assume any obligation to
          perform the terms, covenants, obligations and conditions of the Lessor
          as set forth in the Lease. In the event Lessor fails to perform any of
          its terms, covenants, obligations or conditions set forth in the
          Lease, Sublessor shall be under no obligation to Sublessee. Sublessor
          shall cooperate with Sublessee, at no cost to Sublessor, in seeking to
          obtain the performance of Lessor under the Lease. In addition,
          Sublessee shall have the right to take any action against the Lessor
          in its own name, and for that limited and exclusive purpose, all
          rights of Sublessor under the Lease shall be conferred upon and
          assigned to Sublessee, and Sublessee shall be subrogated to such
          rights to the extent the same are applicable to the Premises. In any
          event, Sublessee shall not be allowed any abatement or diminution of
          Base Rent or Additional Rent under this Sublease because of Lessor's
          failure to perform any of its obligations under the Lease.
          Notwithstanding the foregoing, if Sublessor receives an abatement or
          diminution of rent or additional rent from Lessor that relates to the
          Premises, Sublessee shall be entitled to a proportional abatement or
          diminution of Base Rent or Additional Rent minus a deduction of a
          proportionate share of all expenses, if any, incurred by Sublessor in
          connection with obtaining the abatement or diminution.

     7.   SECURITY DEPOSIT. As additional security for faithful and prompt
          performance of its obligations, Sublessee shall concurrently with the
          execution of this Sublease pay to Sublessor the sum of Three Thousand
          and 00/100 Dollars ($3,000) (the "Security Deposit"). Sublessor may,
          but is not obligated to, apply the Security Deposit to cure any
          default of Sublessee. Sublessor shall not pay any interest on the
          Security Deposit except as required by law. If Sublessor has not
          applied all of the Security Deposit to cure one or more defaults under
          this Sublease, then the Security Deposit, or such remaining portion
          thereof, shall be paid to Sublessee thirty (30) days after termination
          of the Sublease. In the event Sublessor expends all or any part of the
          Security Deposit to cure a default, then, on notice from Sublessor to
          Sublessee, Sublessor shall pay to Sublessee an amount sufficient to
          replenish the Security Deposit to the sum of $3,000. The Security
          Deposit shall not be deemed an advance payment of rent or a measure of
          Sublessor's damages for any default by Sublessee.

     8.   ASSIGNMENT. Sublessee shall not have the right to:

          (a)  Assign or transfer any interest in this Sublease without the
               prior, written consent of Sublessor and Lessor, which consent may
               be withheld for any

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               reason; provided, that Sublessor's consent shall not be required
               for an assignment of this Sublease to a wholly-owned subsidiary
               of Sublessee or to successors of Lessee resulting from a merger
               or consolidation of Sublessee's assets or to any corporation or
               other business entity which controls, is controlled by, or is
               under common control with Lessee. For the purpose hereof,
               "control" shall be deemed to mean ownership of more than fifty
               (50%) percent of all of the voting stock of such corporation or
               more than fifty (50%) of all the legal and equitable interests in
               any other business entity, and in either case, the ability to
               control the actions and policies of such corporation or other
               business entity. Notwithstanding, Sublessee shall remain liable
               for all of its obligations under this Sublease irrespective of
               any assignment, unless specifically released in writing by
               Sublessor pursuant to this paragraph;

          (b)  Further sublet the Premises without the prior, written consent of
               Sublessor and Lessor, which consent may be withheld for any
               reason; or

          (c)  Use the Premises for any purpose other than as a medical
               laboratory and research and development and manufacturing
               facility with offices ancillary thereto.

     9.   INSURANCE. Sublessee shall maintain the insurance required in
          Paragraph 22 of the Lease Extension (Exhibit B): "Liability insurance
          containing a single limit of not less than $1,000,000 for both
          property (including but not limited to fire hazard) and bodily
          injury." All rights and benefits specified for Lessor pursuant to the
          Lease shall inure to the benefit of Lessor and Sublessor. Sublessee
          shall name Sublessor and Lessor as additional insured's in Sublessee's
          insurance policy which shall contain provisions that it will not be
          cancelable except upon at least thirty (30) days prior written notice
          to all insured's and that the act or omission of one insured will not
          invalidate the policy as to the other insured's. Upon the execution of
          this Sublease, Sublessee shall deliver to Sublessor a Certificate of
          Insurance evidencing said insurance coverage.

     10.  CONDITION OF SUBLET PREMISES. Sublessee represents that it has
          inspected the Premises and agrees to accept them in their present, "as
          is" condition. Sublessee acknowledges that no representations, express
          or implied, with respect to the condition of the Premises have been
          made to the Sublessee by the Sublessor. Any work required by Sublessee
          to prepare the Premises for its occupancy shall be paid for by
          Sublessee and shall be subject to all of the conditions set forth in
          this Sublease and/or the Lease. Notwithstanding the foregoing,
          Sublessor shall deliver Possession of the Premises in broom clean
          condition.

     11.  DEFAULT.

          (a) Sublessee shall be in breach and default of this Sublease upon the
          occurrence of any of the following events, after the notice and cure
          periods referred to in Section 11(b):

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               (i)  Fails to fulfill any terms, obligations, covenants, or
                    conditions of the Sublease;

               (ii) Fails to perform any terms, obligations, covenants, or
                    conditions of the Lease with respect to the Premises; or

               (iii) Is adjudged bankrupt or insolvent, or makes an assignment
                    for the benefit of creditors.

          In the event of default, Sublessor shall immediately have any and all
          rights and remedies available to it at law and equity, including all
          rights and remedies of Lessor described in the Lease, which are
          incorporated herein and made a part hereof with the same force and
          effect as if specifically set forth in full, and wherever in the Lease
          rights and remedies are given to Lessor, the same shall be deemed to
          refer to Sublessor.

          (b) Notwithstanding anything to the contrary contained in this
          Sublease, Sublessee shall, prior to Sublessee being in default or any
          interest or late charge being imposed, or Sublessor having any rights
          or remedies, be entitled to receive (i) ten (10) days advance written
          notice in the case of any non-payment of money (including rent) by
          Sublessee and (ii) thirty (30) days advance written notice in the case
          of non-performance of any term other than the payment of money;
          provided, however, in the event such non-performance cannot be
          reasonably cured by Sublessee within thirty (30) days after written
          notice from Sublessor, Sublessee shall have an additional period of
          time as is reasonable under the circumstances for Sublessee to cure
          said non-compliance with the terms of this Sublease provided Sublessee
          shall at all times diligently pursue said cure. Notwithstanding the
          previous statement, Sublessee shall have no more than sixty (60) days
          after written notice from Sublessor to cure non-compliance with the
          terms of this Sublease.

     12.  SUBLEASE CONSENT. This Sublease shall become effective only if the
          written consent of Lessor to this Sublease and the matters reflected
          under the heading "Lessor Consent" below is obtained by signature of
          this Sublease. If such written consent is not obtained then this
          Sublease shall be void and of no force or effect and Sublessor shall
          return any Security Deposit to Sublessee and neither Party shall have
          any further obligation to the other. Both Parties shall promptly
          furnish to the Lessor any information reasonably required by Lessor,
          and to execute any consent form reasonably required by the Lessor.

     13.  INDEMNITY.

          (a) Sublessee shall fully indemnify, defend, and hold Sublessor and
          its directors, officers, stockholders, employees and agents harmless
          from and against any and all actions, claims, demands, damages,
          liabilities, and expenses , including without limitation reasonable
          attorneys' fees and costs ("Claims"), asserted against, imposed upon,
          or incurred by any of them resulting from:

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               (i)  Any violation caused, suffered, or permitted by Sublessee,
                    its agents, contractors, servants, licenses, employees, or
                    invitees, of any of the terms, covenants, or conditions of
                    the Lease or this Sublease;

               (ii) Any violation of, or cost of compliance with, any federal,
                    state, and local laws, regulations, codes, ordinances, and
                    administrative orders having jurisdiction over the Premises,
                    including without limitation, the Americans with
                    Disabilities Act, the 1964 Civil Rights Act, the Foreign
                    Investment in Real Property Tax Act, the Comprehensive
                    Environmental Response Compensation and Liability Act, and
                    the Resource Conservation and Recovery Act, and all
                    amendments to any such laws, to the extent the facts giving
                    rise to the foregoing occur after Sublessee takes Possession
                    of the Premises; and

               (iii) Any damage or injury to persons or property occurring upon
                    or in connection with Sublessee's use or occupancy of the
                    Premises after Sublessee takes Possession of the Premises.

          (b) Sublessor shall fully indemnify, defend, and hold Sublessee and
          its directors, officers, stockholders, employees and agents harmless
          from and against any and all Claims asserted against, imposed upon, or
          incurred by any of them, resulting from the following:

               (i)  Any violation caused, suffered, or permitted by Sublessor,
                    its agents, contractors, servants, licenses, employees, or
                    invitees, of any of the terms, covenants, or conditions of
                    the Lease;

               (ii) Any violation of, or cost of compliance with, any federal,
                    state, and local laws, regulations, codes, ordinances, and
                    administrative orders having jurisdiction over the Premises,
                    including without limitation, the Americans with
                    Disabilities Act, the 1964 Civil Rights Act, the Foreign
                    Investment in Real Property Tax Act, the Comprehensive
                    Environmental Response Compensation and Liability Act, and
                    the Resource Conservation and Recovery Act, and all
                    amendments to any such laws, to the extent the facts giving
                    rise to the foregoing occur before Sublessee takes
                    Possession of the Premises; and

               (iii) Any damage or injury to persons or property occurring upon
                    or in connection with Sublessor's use or occupancy of the
                    Premises before Sublessee takes Possession of the Premises.

          (c) Any person seeking indemnification hereunder shall promptly notify
          the party from which indemnification is sought of the existence of a
          Claim; provided, that any delay in notifying the indemnifying party
          shall not affect the indemnification

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          hereunder unless the delay materially adversely affects the defense of
          the Claim or materially increases liability thereunder. The
          indemnifying party shall have the right to assume the defense of the
          Claim with counsel of its choosing, but shall consult with counsel for
          the indemnified party regarding the Claim subject to execution of a
          customary joint defense agreement. If the indemnifying party does not
          notify the indemnified party that it is assuming the defense of a
          Claim within 10 days after the indemnifying party receives notice of
          the Claim, the indemnified party may defend the Claim at the expense
          and for the account of the indemnifying party. The indemnifying party
          may not enter into a settlement of a Claim involving anything other
          than the payment of money (which it pays) without the prior consent of
          the indemnified party.

          (d) All obligations under this Section 13 shall survive the Expiration
          Date or earlier termination of this Sublease.

     14.  NOTICE. Any notice, request, consent, statement, or other
          communication required or made by either Party shall be in writing,
          effective upon receipt by the other Party and sent to each other by
          U.S. mail, postage prepaid, or by a recognized overnight delivery
          service such as Federal Express, at the following addresses:

                    Sublessor:                   Sublessee:

          Starkey Laboratories, Inc.      HeartWare, Inc.
          6600 Washington Ave. S.         3351 Executive Way
          Eden Prairie, Minnesota 55344   Miramar, Florida 33025
          Attn: Scott A. Nelson,          Attn: Iliana Garcia
          Vice President of Finance       Telephone: 954-874-1146
          Telephone: 952-941-6401         Telefax: 954-874-1156
          Telefax: 952-947-4739

     15.  SURRENDER OF SUBLET PREMISES. Upon the Expiration Date or earlier
          termination, Sublessee, at Sublessee's sole cost and expense, shall
          quit and surrender the Premises to Sublessor in the same good order
          and condition as Sublessor is delivering them to Sublessee, except for
          ordinary wear and tear.

     16.  SUBORDINATION. This Sublease shall, at Lessor's option, be subordinate
          or superior to the lien of any mortgage covering the Building.
          Sublessee shall execute promptly any instrument that Lessor may
          reasonably request to confirm that this Sublease is superior or
          subordinate in lien to any mortgage. In the event of a foreclosure of
          a mortgage covering the Building, which mortgage is prior in lien to
          this Sublease, then notwithstanding such foreclosure, Sublessee shall
          not disaffirm this Sublease or any of its obligations herein and at
          the request of the mortgagee or the purchaser at the foreclosure sale,
          Sublessee shall attorn to such mortgagee or purchaser and if required,
          execute a new Sublease for the Premises on the same terms and
          conditions of this Sublease, except that the term of a new sublease
          shall be for the balance of the Term.

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     17.  CONSENT. Sublessee acknowledges that where consent of Lessor is
          required under the Lease, Sublessor's consent is also required.

     18.  ACCESS. The Sublessor, its agents, employees, prospective purchasers,
          prospective mortgagees, and prospective Lessees may, from time to
          time, enter the Premises during the term of this Sublease during
          reasonable business hours upon reasonable notice for reasonable
          business purposes related to Sublessor's status as leaseholder;
          provided, that such access shall not disrupt Sublessee's business
          operations.

     19.  SEVERABILITY. If any term or provision of the Sublease shall be
          adjudged invalid or unenforceable, the remaining terms of the Sublease
          shall not be affected. Each term of this Sublease shall be valid and
          enforceable to the fullest extent permitted by law.

     20.  BROKER INDEMNITY. Each Party represents to the other and to Lessor
          that no broker participated in the negotiations leading to the
          Sublessee's rental of the Premises from the Sublessor and therefore no
          broker is due a commission from this Sublease. Sublessor and Sublessee
          hereby indemnify each other and Lessor against the claims of any
          broker for a commission or other payment or fee as a result of this
          Sublease.

     21.  LIMITATION OF LIABILITY. In no event shall either party be liable to
          the other for penalties or liquidated damages, or for special,
          indirect, consequential, or incidental losses or damages including,
          but not limited to, lost profits, lost or damaged data, loss of use of
          facility or equipment, or the failure or increased expense of
          operations, regardless of whether any such losses or damages are
          characterized as arising from breach of contract, breach of warranty,
          tort, strict liability, or otherwise, even if a party is advised of
          the possibility of such losses or damages, or if such losses or
          damages are foreseeable.

     23.  SUCCESSORS AND ASSIGNS. The obligations of the Parties set forth
          herein shall be binding upon and inure to the benefit of the Parties
          and their respective successors and assigns.

     24.  GOVERNING LAW. This Sublease shall be governed by and construed in
          accordance with the laws of the State of Florida.

     25.  ESTOPPEL CERTIFICATES. Each Party shall promptly furnish to the other
          (the "Requesting Party"), or to anyone whom the Requesting Party
          designates, a written statement regarding the status of any matter
          pertaining to the Sublease, including without limitation,
          acknowledgment of the extent to which each Party is in compliance with
          its obligations under the terms of the Sublease.

     27.  WAIVER OF SUBROGATION. Any insurance carried by Sublessee with respect
          to the Premises or property therein shall include a clause or
          endorsement denying to the insurer rights of subrogation against
          Sublessor to the extent rights have been waived by Sublessee prior to
          occurrence of injury or loss. Sublessee, hereby

                                       20

<PAGE>

          waives any rights of recovery against Sublessor for injury or loss due
          to assets covered by such insurance.

     28.  HOLDOVER. If, after the Expiration Date or earlier termination of the
          Sublease, Sublessee remains in possession of the Premises in such a
          manner as to create a holdover situation under the Lease, then
          Sublessee shall indemnify and hold Sublessor harmless from and against
          any and all actions, claims, demands, liabilities, loss, expenses, and
          damages incurred by Sublessor, including without limitation attorneys'
          fees and costs, under the Lease or otherwise arising from or related
          to Sublessee's failure to surrender possession of the Premises.

     29.  AUTHORITY. Each party represents and agrees that it has lawful
          authority to execute this Sublease and approval of any other person,
          firm, or corporation is not required or has been duly obtained, and
          that this Sublease constitutes its valid and binding obligation,
          enforceable against it in accordance with the terms hereof.

     30.  TIME OF THE ESSENCE. Time is of the essence of each and every
          provision of the Sublease.

     31.  FORCE MAJEURE. In no event shall either party be liable for the
          failure to perform any obligation under the Sublease in the event that
          such party is prevented from doing so by strike, lockout, breakdown,
          accident, order, regulation of or by any governmental authority, or
          failure of supply, or inability by the exercise of reasonable
          diligence to obtain supplies, parts, or employees necessary to furnish
          such services, or because of war or other emergency, or for any
          similar or dissimilar cause beyond such party's reasonable control
          ("Force Majeure"), or for any cause due to any act or neglect of the
          other party or its servants, agents, employees, licensees, or any
          person claiming through the other party.

     32.  MECHANICS' LIENS. Sublessee shall not permit any mechanics' or
          materialmens' liens to be filed against the Premises. In the event any
          such lien is filed, Sublessee shall discharge such lien within forty
          five (45) days. If Sublessee fails to do so, Sublessor hall have the
          right to discharge such lien and to be reimbursed by Sublessee for the
          full cost upon Sublessor's demand. Further, Sublessee shall hold and
          save Sublessor harmless and indemnify Sublessor of and from any and
          all loss, cost, damage, injury, or expense, including attorneys' fees
          and costs, arising out of or in any way related to such liens.

     33.  ENTIRE AGREEMENT. This Sublease contains the entire agreement between
          the Parties, and no rights are created in favor of either Party other
          than as set forth herein. This Sublease may be modified but only in
          writing signed by both Parties.

     34.  INCONSISTENCY. In the event of any inconsistency between the terms of
          the Lease and the terms of the Sublease, such inconsistency shall be
          resolved as follows: If

                                       21

<PAGE>

          the inconsistency relates to the obligations of or restrictions on
          Sublessee, it will be resolved in favor of that obligation which is
          more onerous to Sublessee or that restriction which is more
          restrictive of Sublessee, as the case may be.

     35.  HOLDOVER. Notwithstanding anything to the contrary contained
          hereinabove, Sublessor acknowledges that in the event Sublessee holds
          over in the Premises beyond the end of the term of the Lease,
          Sublessor shall be responsible for paying rent, Lessee's Proportionate
          Share of Expenses and the holdover penalty for the entire Premises
          during the period of the Sublessee's holdover, regardless of whether
          the Sublessee is subleasing and/or occupying all or only a portion of
          the Premises.

     36.  MATERIAL CONDITION. Lessor's consent herein is expressly conditioned
          upon Sublessor's continued liability to Lessor for the payment of Base
          Rent, Additional Rent, and the performance of all other duties and
          obligations of Lessee set forth in the Lease.

IN WITNESS WHEREOF, the parties have hereto executed this Sublease on the date
referenced above.

SUBLESSOR (STARKEY LABORATORIES, INC.):

/s/ Scott A. Nelson
-------------------------------------
BY: SCOTT A. NELSON,
VICE PRESIDENT OF FINANCE

SUBLESSEE (HEARTWARE, INC.):

BY: /s/ David McIntyre
    ---------------------------------
TITLE: Chief Financial Officer

                                LESSOR'S CONSENT

     Sunbeam Properties, Inc., a Florida corporation, as Lessor under a
"Business Lease" dated September 13, 1994 (Exhibit A), as amended by a "Lease
Extension" Agreement dated March 29, 2005 (Exhibit B), wherein Starkey
Laboratories, Inc., a Minnesota corporation, is Lessee, for certain Premises
located within 3301 Executive Way, Miramar, Florida 33025 (the "Lease"), hereby
acknowledges receipt of and consents to the foregoing Sublease Agreement between
Starkey Laboratories, Inc. (as "Sublessor") and Heartware, Inc. (as
"Sublessee"). In addition, Lessor agrees that:

                                       22

<PAGE>

1.   Lessor's consent shall not be required for an assignment of this Sublease
     to a wholly-owned subsidiary of Sublessee or to successors of Sublessee
     resulting from a merger or consolidation of Sublessee's assets or to any
     corporation or other business entity which controls, is controlled by, or
     is under common control with Sublessee. For the purpose hereof, "control"
     shall be deemed to mean ownership of more than fifty (50%) percent of all
     of the voting stock of such corporation or more than fifty (50%) of all the
     legal and equitable interests in any other business entity, and in either
     case, the ability to control the actions and policies of such corporation
     or other business entity. Notwithstanding, Lessee shall remain liable for
     all of its obligations under the Lease (Exhibit A) irrespective of any
     assignment, unless specifically released in writing by Lessor pursuant to
     this paragraph.

2.   The Lease constitutes the entire contractual arrangement between Lessor and
     Sublessor with regard to the Premises and is in full force and effect on
     the date hereof. No default has occurred and is continuing thereunder.

3.   Lessor shall deliver to Sublessee copies of all notices of default,
     non-compliance or late payment that Lessor delivers to Sublessor under the
     Lease, as and when such notices are delivered to Sublessor.

LESSOR (SUNBEAM PROPERTIES, INC.)

BY: /s/
    ---------------------------------
TITLE: Vice President
DATE: 9/5/06

                                       23

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