Document:

Exhibit 10.15(b)

 

EXHIBIT 10.15(b)

SECOND AMENDMENT TO LEASE

     THIS
SECOND AMENDMENT to Lease (“Second Amendment”) is dated for
reference purposes December 10th,
2007 and is entered into by and between ProLogis California I LLC (“Landlord”), and Skechers USA,
Inc (“Tenant”).

RECITALS

     WHEREAS Landlord and Tenant executed that certain lease dated November 21, 1997, a First Amendment
to Lease dated April 26, 2002 (collectively, the “Lease”) whereby Landlord leased to Tenant those
certain Premises comprised of approximately 127,799 square feet commonly known as 1661 S. Vintage
Avenue, Ontario, California 91761 (the “Premises”). Capitalized terms used and not otherwise
defined herein shall have the meanings given those terms in the original Lease dated November 21,
1997, and or subsequent amendments, as applicable.

     WHEREAS Tenant and Landlord desire to amend the Lease, including but not limited to the extension
of the Lease Term, pursuant to this Second Amendment to Lease.

     NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties agree to amend the Lease as follows:

	1.	Term: 	 The Term shall be extended for One year (1) and six (6) months
and shall commence on December 1, 2007 and shall expire on May 31, 2009.
The monthly triple net Base Rent during the extended Term shall be as
follows:

	 	 	 	 	 
	 	 	Months	 	Monthly Base Rent
	 

	 	December 1, 2007-May 31, 2009
	 	$48,563.62/Mo./NNN

	2.	Other Terms and Conditions: 	All other terms of the Lease shall remain unmodified and in
full force and effect.

     IN WITNESS WHEREOF, the parties hereto have signed this Second Amendment to Lease as of the day and
year first above written.

TENANT:

SKECHERS USA, INC

	 	 	 
	 
	 
	 
	 
	By:

	 	/s/ David Weinberg
	 

	 	 
	 
	 	 
	Name:

	 	David Weinberg
	 

	 	 
	 
	 	 
	Title:

	 	Chief Operating Officer
	 

	 	 

LANDLORD:

PROLOGIS CALIFORNIA I LLC

a Delaware limited liability company

By ProLogis, a Maryland real estate

investment trust, its Managing member

	 	 	 	 	 
	 
	By:
	 	/s/ W. Scott Lamson	 	 
	 

	 

	 

	 
	Name: W. Scott Lamson	 	 
	 
	 	 	 	 
	Title: Senior Vice PresidentExhibit 10.16(b)

 

Exhibit 10.16(b)

SECOND AMENDMENT TO LEASE

     THIS SECOND AMENDMENT TO LEASE, dated this 14th day of May, 2002, between
CABOT INDUSTRIAL PROPERTIES, L.P., a Delaware limited partnership (“Landlord”) and SKECHERS
USA, INC., a Delaware corporation (“Tenant”), for the premises located in the City of Ontario,
County of San Bernardino, State of California, commonly known as 1777 S.Vintage Avenue (the
“Premises”).

W I T N E S S E T H :

     WHEREAS, Landlord and Tenant entered into that certain Lease dated November 21, 1997 and
that certain First Amendment to Lease dated April 26, 2002 (hereinafter collectively referred to
as the “Lease”); and

     WHEREAS, Landlord and Tenant desire to clarify their agreement involving Tenant’s desire to
replace the existing warehouse lighting system and to amend the Lease as more fully set forth
below.

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

	1.	 	Definitions. Unless otherwise specifically set forth herein, all
capitalized terms herein shall have the same meaning as set forth in
the Lease.
	 
	2.	 	Warehouse Lighting.  Tenant intends to replace the lighting system
and fixtures servicing the warehouse portion of the Premises with a
new system and fixtures (“Replacement Lighting System”). In
contracting for the Replacement Lighting System, Tenant intends to
enter into an operating lease with a third party, at the end of which
Tenant will have the option of purchasing the Replacement Lighting
System and to keep it in the Premises. If Tenant purchases the
Replacement Lighting System, it is understood that it shall become
property of Landlord and remain upon and be surrendered with the
Premises at the expiration of the Term. If Tenant does not purchase
the Replacement Lighting System, Tenant shall restore the warehouse
lighting to the same condition as existed prior to Tenant’s
installation of the Replacement Lighting System.
	 
	3.	 	Incorporation.  Except as modified herein, all other terms and
conditions of the Lease between the parties above described, shall
continue in full force and effect.
	 
	4.	 	Limitation of Landlord’s Liability.  It is expressly understood and
agreed that none of Landlord’s covenants, undertakings or agreements
made in this Amendment or the Lease are made or intended as personal
covenants, undertakings or agreements by Landlord, and any
liability of Landlord for damages for breach or nonperformance
by Landlord or otherwise arising under or in connection with this
Amendment or the Lease or the relationship of Landlord and Tenant
hereunder, shall be collectible only out of Landlord’s interest in
the Land and the Building, in each case as the same may then be
encumbered, and no personal liability is assumed by, nor at any time
may be asserted against, Landlord, or its shareholders, officers,
directors, employees, agents, legal representatives, successors or
assigns, all such liability, if any, being expressly waived and
released by Tenant.

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

	 	 	 	 	 	 	 	 	 	 	 
	LANDLORD:

	 	 	 	TENANT:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	CABOT INDUSTRIAL PROPERTIES, L.P.,	 	 	 	SKECHERS USA, INC., a Delaware	 	 
	a Delaware limited partnership

	 	 	 	corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	Cabot Industrial Trust, a Maryland real

estate investment trust,its General Partner
	 	 	 	By:
	 	/s/ David Weinberg 

	 	 
	By:

	 	     RREEF America L.L.C., a Delaware
	 	 	 	Title:
	 	CFO	 	 
	 

	 	     limited liability company, its
	 	 	 	Date:
	 	5/23/02	 	 
	 

	 	     Authorized Agent	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Daniel J. Schmidt	 	 	 	By:	 	/s/ Philip Paccione	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Daniel J. Schmidt	 	 	 	 	 	 	 	 
	Title:

	 	Vice President
	 	 	 	Title:
	 	Executive VP & General Counsel	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Date:

	 	5/29/02
	 	 	 	Date:
	 	5/23/02	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Address: 1777 S. Vintage Avenue	 	 
	 	 	 	 	 	 	Ontario, CA 91761Exhibit 10.16(c)

 

Exhibit 10.16(c)

THIRD AMENDMENT TO LEASE

     THIS AMENDMENT, dated this 7th day of May, 2007, between CLP INDUSTRIAL PROPERTIES, LLC,
a Delaware Limited Liability Company (“Lessor”) and SKECHERS USA, INC., a Delaware corporation
(“Lessee”), for the premises located in the City of Ontario, County of San Bernardino, State of
California, commonly known as 1777 S. Vintage Avenue (the “Premises”).

WITNESSETH:

     WHEREAS, Lessor’s Predecessor, CABOT INDUSTRIAL PROPERTIES, L.P., a Delaware corporation, and
Lessee, entered into that certain Lease dated November 21, 1997, the First Amendment to Lease dated
April 26, 2002, and Second Amendment to Lease dated May 14, 2002 (hereinafter collectively referred
to as the “Lease”); and

     WHEREAS, Lessor and Lessee desire to amend the Lease as more fully set forth below.

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

     1. Definitions. Unless otherwise specifically set forth herein, all capitalized terms
herein shall have the same meaning as set forth in the Lease.

     2. Term: Paragraph 2, Term, of the First Amendment to Lease, shall be deleted in its
entirety and the following substituted therefore: The term of the Lease shall be extended until and
shall terminate on, May 31, 2009, which shall be deemed to be the Expiration Date for all purposes
under the Lease.

     3. Base Rental: Paragraph 5, Base Rental, of the First Amendment to Lease, shall be amended
effective December 1, 2007 as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period	 	Rentable Square	 	Annual Rent	 	Annual Rent	 	Monthly Installment
	from	 	through	 	Footage	 	Per Square Foot	 	Base Rent	 	of Base Rent
	12/1/2007

	 	5/31/2009
	 	 	284,559	 	 	$	5.10	 	 	$	1,451,250.90	 	 	$	120,937.58	 

     4. Renewable Option. The Renewal Option set forth in the First Amendment to Lease is
hereby deleted and terminated and Lessee shall have not rights to exercise the Option as set forth
therein.

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Page 1 of 3

 

     5. Authority. Paragraph 44, of the Lease shall be deleted in its entirety and the following
substituted therefore: Lessee’s Authority (OFAC): If Lessee signs as a corporation, partnership,
trust or other legal entity each of the persons executing this Lease on behalf of Lessee represents
and warrants that Lessee has been and is qualified to do business in the state in which the
Building is located, that the entity has full right and authority to enter into this Lease, and
that all persons signing on behalf of the entity were authorized to do so by appropriate actions.
Lessee agrees to deliver to Lessor, simultaneously with the delivery of this Lease, a corporate
resolution, proof of due authorization by partners, opinion of counsel or other appropriate
documentation reasonably acceptable to Lessor evidencing the due authorization of Lessee to enter
into this Lease.

Lessee hereby represents and warrants that neither Lessee, nor any person or entities holding any
legal or beneficial interest whatsoever in Lessee, are (i) the target of any sanctions program that
is established by Executive Order of the President or published by the Office of Foreign Assets
Control, U.S. Department of the Treasury (“OFAC”); (ii) designated by the President or OFAC
pursuant to the Trading with the Enemy Act, 50 U.S.C. App. § 5, the International Emergency
Economic Powers Act, 50 U.S.C. §§ 1701-06, the Patriot Act, Public Law 107-56, Executive Order
13224 (September 23, 2001) or any Executive Order of the President issued pursuant to such statues;
or (iii) named on the following list that is published by OFAC: “List of Specially Designated
Nationals and Blocked Persons.” If the foregoing representation is untrue at any time during the
Term, an Event of Default will be deemed to have occurred, without the necessity of notice to
Lessee.

     6. Financial Statements and Credit: At Lessor’s request, Lessee shall deliver to Lessor a
copy, certified by an officer of Lessee as being a true and correct copy, of Lessee’s most recent
audited financial statement, or if unaudited, certified by Lessee’s chief financial officer as
being true, complete and correct in all material respects. Lessee hereby authorizes Lessor to
obtain one or more credit reports on Lessee at any time, and shall execute such further
authorizations as Lessor may reasonably require in order to obtain a credit report.

     7. Broker Indemnification. Lessee represents and warrants to Lessor that no real estate
broker, agent, commissioned salesperson or other person has represented Lessee in the negotiations
of this Agreement, other than CB Richard Ellis and RREEF Management Company. Lessor agrees to pay
all commissions due the foregoing broker. Lessee agrees to indemnify and hold Lessor harmless from
and against any claim for any such commissions, fees or other form of compensation by any such
third party claiming through the Lessee, including, without limitation, any and all claims, causes
of action, damages, costs and expenses, including attorneys’ fees associated therewith.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

Page 2 of 3

 

     8. Incorporation. Except as modified herein, all other terms and conditions of the Lease
between the parties above described, as attached hereto, shall continue in full force and effect.

     9. Limitation of Lessor’s Liability. Redress for any claim against Lessor under this
Amendment and the Lease shall be limited to and enforceable only against and to the extent of
Lessor’s interest in the Building. The obligations of Lessor under this Amendment and the Lease are
not intended to be and shall not be personally binding on, nor shall any resort be had to the
private properties of, any of its or its investment manager’s trustees, directors, officers,
partners, beneficiaries, members, stockholders, employees, or agents, and in no case shall Lessor
be liable to Lessee hereunder for any lost profits, damage to business, or any form of special,
indirect or consequential damages.

     IN WITNESS WHEREOF, Lessor and Lessee have executed the Amendment as of the day and year first
written above.

LESSOR:

CLP INDUSTRIAL PROPERTIES, LLC,

a Delaware limited liability company

BY: RREEF Management company, a

Delaware corporation, Authorized Agent

	 	 	 
	By:

	 	/s/ Elaine M. Seaholm
	 

	 	 
	 
	 	 
	Name:

	 	Elaine M. Seaholm
	 

	 	 
	 
	 	 
	Title:

	 	Vice President/District Manager
	 

	 	 
	 
	 	 
	Dated:

	 	5/21/07
	 

	 	 

LESSEE:

SKECHERS USA, INC., a Delaware

corporation

	 	 	 
	By:
	 	 
	 

	 	 
	 
	 	 
	Name:
	 	 
	 

	 	 
	 
	 	 
	Title:
	 	 
	 

	 	 
	 
	 	 
	Dated:
	 	 
	 

	 	 
	 
	 	 
	By:

	 	/s/ David Weinberg
	 

	 	 
	 
	 	 
	Name:

	 	David Weinberg
	 

	 	 
	 
	 	 
	Title:

	 	COO/Executive VP
	 

	 	 
	 
	 	 
	Dated:

	 	5-11-07
	 

	 	 

Page 3 of 3

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