SEC Contract Filing

Filing Date: 2019-11-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>f8k111919ex10-1_purple.htm
<DESCRIPTION>FIRST AMENDMENT TO LEASE DATED NOVEMBER 19, 2019 BETWEEN THE COMPANY AND NORTH SLOPE ONE, LLC
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>FIRST AMENDMENT TO LEASE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">North Slope One, LLC / Purple Innovation,
LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIS AMENDMENT </B>(this
&ldquo;<B><I>Amendment</I></B>&rdquo;) is entered into as of the 15<FONT STYLE="font-size: 12pt"><SUP>th</SUP></FONT> day of November,
2019, between <B>NORTH SLOPE ONE, LLC</B>, a Utah limited liability company (&ldquo;<B><I>Landlord</I></B>&rdquo;), and <B>PURPLE
INNOVATION, LLC</B>, a Delaware limited liability company (&ldquo;<B><I>Tenant</I></B>&rdquo;). (Landlord and Tenant are referred
to in this Amendment collectively as the &ldquo;<B><I>Parties</I></B>&rdquo; and individually as a &ldquo;<B><I>Party</I></B>.&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>FOR GOOD AND VALUABLE
CONSIDERATION</B>, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. <U>Definitions</U>.
As used in this Amendment, each of the following terms shall have the indicated meaning, and any term used in this Amendment that
is not defined shall have the same meaning as set forth in the Lease (defined below in this <U>Paragraph 1</U>), as amended by
this Amendment:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;<B><I>Additional
Space</I></B>&rdquo; means the additional space being added to the Lease by this Amendment, described as the balance of the space
on the first floor of the Building, consisting of approximately 12,492 usable square feet and approximately 14,697 rentable square
feet, as shown on the attached <U>Exhibit A.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;<B><I>Existing
Space</I></B>&rdquo; means the space covered by the Lease prior to this Amendment, described as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) Suite 100 on the
first floor of the Building, consisting of approximately 2,065 usable square feet and approximately 2,430 rentable square feet,
as shown on the attached <U>Exhibit A.1</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) Suite 150 on the
first floor of the Building, consisting of approximately 8,613 usable square feet and approximately 10,133 rentable square feet,
as shown on the attached <U>Exhibit A.1</U>; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) Suite 200 on
the second floor of the Building, consisting of approximately 25,733 usable square feet and approximately 30,274 rentable square
feet,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">comprising in the aggregate a total of
approximately 36,411 usable square feet and approximately 42,837 rentable square feet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;<B><I>Expansion
Date</I></B>&rdquo; means July 1, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&ldquo;<B><I>Lease</I></B>&rdquo;
means the Lease, dated June 7, 2019, entered into between Landlord, as landlord, and Tenant, as tenant, and, where applicable,
as amended by this Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. <U>Purpose</U>.
The Lease currently covers the Existing Space. The Parties desire to add the Additional Space to the Lease as of the Expansion
Date in accordance with the terms and