SEC Contract Filing

Filing Date: 2015-03-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.32
<SEQUENCE>2
<FILENAME>ex10-32.htm
<DESCRIPTION>EXHIBIT 10.32
<TEXT>
<HTML><HEAD><TITLE>ex10-32.htm</TITLE>
<!-- Created by RDG HTML Converter -->
</HEAD>
<BODY style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 10px; MARGIN-RIGHT: 10px">
<P id=PARA85 style="MARGIN-BOTTOM: 0px; TEXT-ALIGN: right; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit 10.32</B></FONT></P>
<P id=PARA86 style="MARGIN-BOTTOM: 0px; TEXT-ALIGN: left; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA2 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">AMENDMENT NO.3 TO LEASE</FONT></P>
<P id=PARA7 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA8 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA9 style="TEXT-ALIGN: justify; MARGIN: 0pt 2.35pt 0pt 7.15pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 33.5pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">This Amendment No. 3 to Lease is dated July, 30, 2014 and is between St. Paul Fire &amp; Marine Insurance Company, a Connecticut corporation ("<B>Landlord</B>"), and Kips Bay Medical, Inc., a Delaware corporation ("<B>Tenant</B>").</FONT></P>
<P id=PARA11 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P id=PARA12 style="TEXT-ALIGN: justify; MARGIN: 0pt 3.05pt 0pt 7.15pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 33.5pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Landlord and Tenant are the parties to the Lease Agreement dated July 26, 2007 (Landlord was then known as St. Paul Properties, Inc.), as amended by the Amendment No. 1 to Lease dated June 14, 2010, and by the Amendment No. 2 to Lease dated May 25, 2011. The premises under the Lease are Suite 200, 3405 Annapolis Lane, Plymouth, Minnesota, which contains 4,948 rentable square feet of floor area.</FONT></P>
<P id=PARA13 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA14 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-LEFT: 40.2pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The term of the Lease is scheduled to expire on September 30, 2014, and Landlord and</FONT></P>
<P id=PARA15 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-LEFT: 6.7pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Tenant desire to extend the term. Therefore, Landlord and Tenant agree as follows:</FONT></P>
<P id=PARA16 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA17 style="TEXT-ALIGN: justify; MARGIN: 0pt 4.6pt 0pt 7.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 33.75pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Extension of Term</B>. The term of the Lease is extended for the 36-month period from October 1, 2014 through September 30, 2017.</FONT></P>
<P id=PARA18 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA19 style="TEXT-ALIGN: justify; MARGIN: 0pt 4.3pt 0pt 7.15pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 33.25pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Base Rent</B>. Tenant agrees to pay base rent during the following periods in the following amounts:</FONT></P>
<P id=PARA20 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL37 style="FONT-SIZE: 10pt; BORDER-TOP: #000000 1px solid; FONT-FAMILY: Times New Roman, Times, serif; BORDER-RIGHT: #000000 1px solid; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; BORDER-LEFT: #000000 1px solid; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR id=TBL37.finRow.1>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BORDER-RIGHT: #000000 1px solid; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA21 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Period</B></FONT></P></TD>
<TD id=TBL37.finRow.1.lead.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid"><B>&nbsp;</B></TD>
<TD id=TBL37.finRow.1.amt.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 17.85pt">
<P id=PARA22 style="TEXT-ALIGN: center; MARGIN: 0pt 8.15pt 0pt 17.85pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -6.45pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Annual Base Rate </B></FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt 8.15pt 0pt 17.85pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -6.45pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>per square foot</B></FONT></P></TD>
<TD id=TBL37.finRow.1.trail.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BORDER-RIGHT: #000000 1px solid; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid"><B>&nbsp;</B></TD>
<TD id=