Massachusetts | 04-2882273 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
400 Wood Road, Braintree, Massachusetts 02184-9114 (Address of principal executive offices) | (781) 848-7100 (Registrant’s telephone number) |
(Title of Each Class) | (Name of Exchange on Which Registered) | |
Common stock, $.01 par value per share | New York Stock Exchange |
Large accelerated filer þ | Accelerated filer o | Non-accelerated filer o | Smaller reporting company o | |||
(Do not check if a smaller reporting company) |
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EX-21.1 | ||
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EX-31.1 | ||
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EX-32.1 | ||
EX-32.2 | ||
EX-101 INSTANCE DOCUMENT | ||
EX-101 SCHEMA DOCUMENT | ||
EX-101 CALCULATION LINKBASE DOCUMENT | ||
EX-101 LABELS LINKBASE DOCUMENT | ||
EX-101 PRESENTATION LINKBASE DOCUMENT | ||
EX-101 DEFINITION LINKBASE DOCUMENT |
• | Plasma |
• | Blood Center |
• | Hospital |
• | Software Solutions |
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||
Fiscal year ended March 30, 2013: | |||||||||||||||
Market price of Common Stock: | |||||||||||||||
High | $ | 37.06 | $ | 40.70 | $ | 41.38 | $ | 44.44 | |||||||
Low | $ | 33.44 | $ | 34.32 | $ | 38.92 | $ | 40.78 | |||||||
Fiscal year ended March 31, 2012: | |||||||||||||||
Market price of Common Stock: | |||||||||||||||
High | $ | 35.10 | $ | 34.59 | $ | 32.29 | $ | 35.16 | |||||||
Low | $ | 31.21 | $ | 28.02 | $ | 27.50 | $ | 30.92 |
* | $100 invested on 3/29/08 in stock or index, including reinvestment of dividends. Fiscal year ended March 30. |
3/08 | 3/09 | 3/10 | 3/11 | 3/12 | 3/13 | |||||||||||||
Haemonetics Corporation | 100.00 | 92.45 | 95.94 | 110.00 | 116.95 | 139.85 | ||||||||||||
S&P 500 | 100.00 | 60.32 | 88.41 | 100.24 | 106.48 | 118.64 | ||||||||||||
S&P Health Care Equipment | 100.00 | 68.74 | 95.94 | 97.34 | 101.08 | 113.56 |
Period | Total Number of Shares Repurchased | Average Price Paid per Share including Commissions | Total Dollar Value of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs | |||||||||||
12/30/2012-1/26/2013 | 160,365 | $ | 41.81 | $ | 6,704,229 | $ | 22,133,953 | ||||||||
1/27/2013-2/23/2013 | 291,650 | $ | 41.54 | $ | 12,114,521 | $ | 10,019,432 | ||||||||
2/24/2013-3/30/2013 | 242,629 | $ | 41.30 | $ | 10,019,432 | $ | — | ||||||||
Total | 694,644 | $ | 41.52 | $ | 28,838,182 |
(In thousands, except per share and employee data) | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||
Summary of Operations | |||||||||||||||||||
Net revenues | $ | 891,990 | $ | 727,844 | $ | 676,694 | $ | 645,430 | $ | 597,879 | |||||||||
Cost of goods sold | 463,859 | 358,604 | 321,485 | 307,949 | 289,709 | ||||||||||||||
Gross profit | 428,131 | 369,240 | 355,209 | 337,481 | 308,170 | ||||||||||||||
Operating expenses: | |||||||||||||||||||
Research and development | 44,394 | 36,801 | 32,656 | 26,376 | 23,859 | ||||||||||||||
Selling, general and administrative | 323,053 | 245,261 | 213,899 | 214,483 | 198,744 | ||||||||||||||
Contingent consideration income | — | (1,580 | ) | (1,894 | ) | (2,345 | ) | — | |||||||||||
Asset write-down | 4,247 | — | — | 15,686 | — | ||||||||||||||
Total operating expenses | 371,694 | 280,482 | 244,661 | 254,200 | 222,603 | ||||||||||||||
Operating income | 56,437 | 88,758 | 110,548 | 83,281 | 85,567 | ||||||||||||||
Other income (expense), net | (6,540 | ) | 740 | (467 | ) | (2,010 | ) | (565 | ) | ||||||||||
Income before provision for income taxes | 49,897 | 89,498 | 110,081 | 81,271 | 85,002 | ||||||||||||||
Provision for income taxes | 11,097 | 22,612 | 30,101 | 22,901 | 25,698 | ||||||||||||||
Net income | 38,800 | 66,886 | 79,980 | 58,370 | 59,304 | ||||||||||||||
Income per share: | |||||||||||||||||||
Basic | $ | 0.76 | $ | 1.32 | $ | 1.59 | $ | 1.15 | $ | 1.17 | |||||||||
Diluted | $ | 0.74 | $ | 1.30 | $ | 1.56 | $ | 1.12 | $ | 1.13 | |||||||||
Weighted average number of shares | 51,349 | 50,727 | 50,154 | 50,902 | 50,778 | ||||||||||||||
Common stock equivalents | 910 | 863 | 1,038 | 1,224 | 1,568 | ||||||||||||||
Weighted average number of common and common equivalent shares | 52,259 | 51,590 | 51,192 | 52,126 | 52,346 |
2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||
Financial and Statistical Data: | |||||||||||||||||||
Working capital | $ | 416,866 | $ | 396,385 | $ | 340,160 | $ | 250,888 | $ | 289,530 | |||||||||
Current ratio | 3.3 | 4.0 | 4.1 | 2.9 | 4.1 | ||||||||||||||
Property, plant and equipment, net | $ | 256,953 | $ | 161,657 | $ | 155,528 | $ | 154,313 | $ | 137,807 | |||||||||
Capital expenditures | $ | 62,188 | $ | 53,198 | $ | 46,669 | $ | 56,304 | $ | 56,379 | |||||||||
Depreciation and amortization | $ | 65,481 | $ | 49,966 | $ | 48,145 | $ | 43,236 | $ | 36,462 | |||||||||
Total assets | $ | 1,461,917 | $ | 911,135 | $ | 833,264 | $ | 760,928 | $ | 649,693 | |||||||||
Total debt | $ | 480,094 | $ | 3,771 | $ | 4,879 | $ | 20,520 | $ | 6,038 | |||||||||
Stockholders’ equity | $ | 769,182 | $ | 732,631 | $ | 686,136 | $ | 593,124 | $ | 539,884 | |||||||||
Debt as a % of stockholders’ equity | 62.4 | % | 0.5 | % | 0.7 | % | 3.5 | % | 1.1 | % | |||||||||
Employees | 3,563 | 2,337 | 2,201 | 2,327 | 2,016 |
• | Purchase and consumption of a minimum level of disposables products; |
• | Payment of monthly rental fees; and |
• | An asset utilization performance metric, such as performing a minimum level of procedures per month per device. |
• | Industry consolidation continues among plasma collectors and fractionators. As customers become more vertically integrated, the number of centers served, and collections at those centers, can change. Consolidation can also impact the choice in plasma collection system used to perform some or all of those collections. |
• | Several blood collectors supply additional plasma to fractionators, and thus collection volumes can rise overall but not directly impact our commercial plasma business. |
• | The newer plasma fractionation facilities are more efficient in their production processes, helping companies meet growing demand for pharmaceuticals without requiring an equivalent increase in plasma supply. |
• | Reimbursement guidelines affect the demand for end product pharmaceuticals, although off-label use of pharmaceuticals is growing, in particular for Alzheimer's treatment. |
• | Newly approved indications for, and the growing understanding and thus diagnosis of auto-immune diseases treated with plasma derived therapies increase the demand for plasma, as do longer lifespans and a growing aging patient population. |
• | Geographical expansion of biopharmaceuticals also increases demand for plasma. |
(In thousands, except per share data) | March 30, 2013 | March 31, 2012 | April 2, 2011 | % Increase/(Decrease) 13 vs. 12 | % Increase/(Decrease) 12 vs. 11 | ||||||||||||
Net revenues | $ | 891,990 | $ | 727,844 | $ | 676,694 | 22.6 | % | 7.6 | % | |||||||
Gross profit | $ | 428,131 | $ | 369,240 | $ | 355,209 | 15.9 | % | 4.0 | % | |||||||
% of net revenues | 48.0 | % | 50.7 | % | 52.5 | % | |||||||||||
Operating expenses | $ | 371,694 | $ | 280,482 | $ | 244,661 | 32.5 | % | 14.6 | % | |||||||
Operating income | $ | 56,437 | $ | 88,758 | $ | 110,548 | (36.4 | )% | (19.7 | )% | |||||||
% of net revenues | 6.3 | % | 12.2 | % | 16.3 | % | |||||||||||
Other income (expense), net | $ | (6,540 | ) | $ | 740 | $ | (467 | ) | |||||||||
Income before taxes | $ | 49,897 | $ | 89,498 | $ | 110,081 | (44.2 | )% | (18.7 | )% | |||||||
Provision for income tax | $ | 11,097 | $ | 22,612 | $ | 30,101 | (50.9 | )% | (24.9 | )% | |||||||
% of pre-tax income | 22.2 | % | 25.3 | % | 27.3 | % | |||||||||||
Net income | $ | 38,800 | $ | 66,886 | $ | 79,980 | (42.0 | )% | (16.4 | )% | |||||||
% of net revenues | 4.3 | % | 9.2 | % | 11.8 | % | |||||||||||
Earnings per share-diluted | $ | 0.74 | $ | 1.30 | $ | 1.56 | (43.1 | )% | (16.7 | )% |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | % Increase/(Decrease) 13 vs. 12 | % Increase/(Decrease) 12 vs. 11 | ||||||||||||
United States | $ | 454,874 | $ | 352,160 | $ | 317,355 | 29.2 | % | 11.0 | % | |||||||
International | 437,116 | 375,684 | 359,339 | 16.4 | % | 4.5 | % | ||||||||||
Net revenues | $ | 891,990 | $ | 727,844 | $ | 676,694 | 22.6 | % | 7.6 | % |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | % Increase/(Decrease) 13 vs. 12 | % Increase/(Decrease) 12 vs. 11 | ||||||||||||
Disposables | $ | 757,765 | $ | 594,933 | $ | 551,836 | 27.4 | % | 7.8 | % | |||||||
Software solutions | 69,952 | 70,557 | 66,876 | (0.9 | )% | 5.5 | % | ||||||||||
Equipment & other | 64,273 | 62,354 | 57,982 | 3.1 | % | 7.5 | % | ||||||||||
Net revenues | $ | 891,990 | $ | 727,844 | $ | 676,694 | 22.6 | % | 7.6 | % |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | % Increase/(Decrease) 13 vs. 12 | % Increase/(Decrease) 12 vs. 11 | ||||||||||||
Plasma disposables | $ | 268,900 | $ | 258,061 | $ | 227,209 | 4.2 | % | 13.6 | % | |||||||
Blood center disposables | |||||||||||||||||
Platelet | 169,602 | 167,946 | 156,251 | 1.0 | % | 7.5 | % | ||||||||||
Red cell | 49,733 | 48,034 | 46,828 | 3.5 | % | 2.6 | % | ||||||||||
Whole blood | 138,436 | — | — | 100.0 | % | — | % | ||||||||||
357,771 | 215,980 | 203,079 | 65.7 | % | 6.4 | % | |||||||||||
Hospital disposables | |||||||||||||||||
Surgical | 73,508 | 66,619 | 66,503 | 10.3 | % | 0.2 | % | ||||||||||
OrthoPAT | 30,230 | 31,186 | 35,631 | (3.1 | )% | (12.5 | )% | ||||||||||
Diagnostics | 27,356 | 23,087 | 19,414 | 18.5 | % | 18.9 | % | ||||||||||
131,094 | 120,892 | 121,548 | 8.4 | % | (0.5 | )% | |||||||||||
Total disposables revenue | $ | 757,765 | $ | 594,933 | $ | 551,836 | 27.4 | % | 7.8 | % |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | % Increase/(Decrease) 13 vs. 12 | % Increase/(Decrease) 12 vs. 11 | ||||||||||||
Software solutions | $ | 69,952 | $ | 70,557 | $ | 66,876 | (0.9 | )% | 5.5 | % | |||||||
Equipment and other | 64,273 | 62,354 | 57,982 | 3.1 | % | 7.5 | % | ||||||||||
Net other revenues | $ | 134,225 | $ | 132,911 | $ | 124,858 | 1.0 | % | 6.4 | % |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | % Increase/(Decrease) 13 vs. 12 | % Increase/(Decrease) 12 vs. 11 | ||||||||||||
Gross profit | $ | 428,131 | $ | 369,240 | $ | 355,209 | 15.9 | % | 4.0 | % | |||||||
% of net revenues | 48.0 | % | 50.7 | % | 52.5 | % |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | % Increase/(Decrease) 13 vs. 12 | % Increase/(Decrease) 12 vs. 11 | ||||||||||||
Research and development | $ | 44,394 | $ | 36,801 | $ | 32,656 | 20.6 | % | 12.7 | % | |||||||
% of net revenues | 5.0 | % | 5.1 | % | 4.8 | % | |||||||||||
Selling, general and administrative | $ | 323,053 | $ | 245,261 | $ | 213,899 | 31.7 | % | 14.7 | % | |||||||
% of net revenues | 36.2 | % | 33.7 | % | 31.6 | % | |||||||||||
Contingent consideration income | $ | — | $ | (1,580 | ) | $ | (1,894 | ) | (100.0 | )% | (16.6 | )% | |||||
% of net revenues | — | % | (0.2 | )% | (0.3 | )% | |||||||||||
Asset write-downs | $ | 4,247 | $ | — | $ | — | — | % | — | % | |||||||
% of net revenues | 0.5 | % | — | % | — | % | |||||||||||
Total operating expenses | $ | 371,694 | $ | 280,482 | $ | 244,661 | 32.5 | % | 14.6 | % | |||||||
% of net revenues | 41.7 | % | 38.5 | % | 36.2 | % |
March 30, 2013 | March 31, 2012 | April 2, 2011 | % Increase/(Decrease) 13 vs. 12 | % Increase/(Decrease) 12 vs. 11 | ||||||||||
Reported income tax rate | 22.2 | % | 25.3 | % | 27.3 | % | (3.1 | )% | (2.0 | )% |
(In thousands) | March 30, 2013 | March 31, 2012 | |||||
Cash & cash equivalents | $ | 179,120 | $ | 228,861 | |||
Working capital | $ | 416,866 | $ | 396,385 | |||
Current ratio | 3.3 | 4.0 | |||||
Net cash (debt) position(1) | $ | (300,974 | ) | $ | 225,090 | ||
Days sales outstanding (DSO) | 62 | 66 | |||||
Disposables finished goods inventory turnover | 4.0 | 5.7 |
(1) | Net cash (debt) position is the sum of cash and cash equivalents less total debt. |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | Increase/(Decrease) 13 vs. 12 | Increase/(Decrease) 12 vs. 11 | ||||||||||||||
Net cash provided by (used in): | |||||||||||||||||||
Operating activities | $ | 85,074 | $ | 115,318 | $ | 123,455 | $ | (30,244 | ) | $ | (8,137 | ) | |||||||
Investing activities | (596,395 | ) | (52,196 | ) | (51,558 | ) | (544,199 | ) | (638 | ) | |||||||||
Financing activities | 461,853 | (30,470 | ) | (18,084 | ) | 492,323 | (12,386 | ) | |||||||||||
Effect of exchange rate changes on cash and cash equivalents(1) | (273 | ) | (498 | ) | 1,332 | 225 | (1,830 | ) | |||||||||||
Net increase/(decrease) in cash and cash equivalents | $ | (49,741 | ) | $ | 32,154 | $ | 55,145 | $ | (81,895 | ) | $ | (22,991 | ) |
(1) | The balance sheet is affected by spot exchange rates used to translate local currency amounts into U.S. dollars. In accordance with GAAP, we have removed the effect of foreign currency throughout our cash flow statement, except for its effect on our cash and cash equivalents. |
Payments Due by Period | |||||||||||||||||||
(In thousands) | Total | Less than 1 year | 1-3 years | 4-5 years | After 5 years | ||||||||||||||
Debt | $ | 480,094 | $ | 23,150 | $ | 118,969 | $ | 337,975 | $ | — | |||||||||
Operating leases | 23,985 | 7,742 | 9,766 | 3,788 | 2,689 | ||||||||||||||
Purchase commitments* | 131,734 | 126,734 | 5,000 | — | — | ||||||||||||||
Expected retirement plan benefit payments | 10,611 | 1,200 | 2,635 | 2,062 | 4,714 | ||||||||||||||
Total contractual obligations | $ | 646,424 | $ | 158,826 | $ | 136,370 | $ | 343,825 | $ | 7,403 |
* | Includes amounts we are committed to spend on purchase orders entered in the normal course of business for capital equipment and for the purpose of manufacturing our products including contract manufacturers, specifically JMS Co. Ltd., and Kawasumi Laboratories, for the manufacture of certain disposable products. The majority of our operating expense spending does not require any advance commitment. |
First Quarter | Favorable / (Unfavorable) | Second Quarter | Favorable / (Unfavorable) | Third Quarter | Favorable / (Unfavorable) | Fourth Quarter | Favorable / (Unfavorable) | ||||||||||||||||
Euro - Hedge Spot Rate (US$ per Euro) | |||||||||||||||||||||||
FY11 | 1.36 | (13 | )% | 1.41 | (5 | )% | 1.43 | 8 | % | 1.35 | 5 | % | |||||||||||
FY12 | 1.24 | (9 | )% | 1.30 | (8 | )% | 1.36 | (5 | )% | 1.37 | 1 | % | |||||||||||
FY13 | 1.43 | 15 | % | 1.42 | 9 | % | 1.36 | — | % | 1.32 | (4 | )% | |||||||||||
FY14 | 1.27 | (11 | )% | 1.25 | (12 | )% | 1.29 | (5 | )% | 1.35 | 2 | % | |||||||||||
Japanese Yen - Hedge Spot Rate (JPY per US$) | |||||||||||||||||||||||
FY11 | 98.17 | (7 | )% | 94.91 | (10 | )% | 89.13 | (8 | )% | 89.78 | (4 | )% | |||||||||||
FY12 | 88.99 | (9 | )% | 85.65 | (10 | )% | 81.73 | (8 | )% | 82.45 | (8 | )% | |||||||||||
FY13 | 79.40 | (11 | )% | 76.65 | (11 | )% | 77.58 | (5 | )% | 78.69 | (5 | )% | |||||||||||
FY14 | 79.85 | 1 | % | 79.68 | 4 | % | 84.32 | 9 | % | 93.92 | 19 | % | |||||||||||
Canadian Dollar - Hedge Spot Rate (CAD per US$) | |||||||||||||||||||||||
FY11 | 1.10 | (4 | )% | 1.09 | (3 | )% | 1.07 | (4 | )% | 1.03 | (6 | )% | |||||||||||
FY12 | 1.05 | (5 | )% | 1.03 | (6 | )% | 1.00 | (7 | )% | 0.99 | (4 | )% | |||||||||||
FY13 | 0.98 | (7 | )% | 0.99 | (4 | )% | 1.01 | 1 | % | 1.00 | 1 | % | |||||||||||
FY14 | 1.01 | 3 | % | 1.00 | 1 | % | 1.00 | (1 | )% | 1.02 | 2 | % | |||||||||||
British Pound - Hedge Spot Rate (US$ per GBP) | |||||||||||||||||||||||
FY11 | 1.47 | 1 | % | 1.65 | 15 | % | 1.63 | 15 | % | 1.59 | 14 | % | |||||||||||
FY12 | 1.50 | 2 | % | 1.54 | (7 | )% | 1.57 | (4 | )% | 1.58 | (1 | )% | |||||||||||
FY13 | 1.62 | 8 | % | 1.63 | 6 | % | 1.60 | 2 | % | 1.57 | (1 | )% | |||||||||||
FY14 | 1.59 | (2 | )% | 1.57 | (4 | )% | |||||||||||||||||
Swiss Franc - Hedge Spot Rate (CHF per US$) | |||||||||||||||||||||||
FY11 | 1.05 | 1.04 | 1.05 | ||||||||||||||||||||
FY12 | 1.05 | 1.01 | (4 | )% | 0.96 | (8 | )% | 0.92 | (12 | )% | |||||||||||||
FY13 | 0.82 | (22 | )% | 0.85 | (16 | )% | 0.92 | (4 | )% | 0.92 | — | % | |||||||||||
FY14 | 0.96 | 17 | % | 0.95 | 12 | % | 0.92 | — | % | 0.94 | 2 | % |
We generally place our cash flow hedge contracts on a rolling twelve month basis. |
Hedged Currency | (BUY)/SELL Local Currency | Weighted Spot Contract Rate | Weighted Forward Contract Rate | Fair Value Gain/(Loss) | Maturity | Quarter Expected to Affect Earnings | |||||||||||
EUR | 7,609,000 | 1.266 | 1.272 | $ | (113,172 | ) | Mar 2013 - May 2013 | Q1 FY14 | |||||||||
EUR | 8,474,000 | 1.248 | 1.253 | $ | (289,142 | ) | Jun 2013 - Aug 2013 | Q2 FY14 | |||||||||
EUR | 8,549,000 | 1.293 | 1.297 | $ | 64,875 | Sep 2013 - Nov 2013 | Q3 FY14 | ||||||||||
EUR | 6,539,000 | 1.353 | 1.355 | $ | 403,373 | Dec 2013 -Feb 2014 | Q4 FY14 | ||||||||||
YEN | 895,856,000 | 79.61 per US$ | 79.13 per US$ | $ | 1,795,161 | Mar 2013 - May 2013 | Q1 FY14 | ||||||||||
YEN | 1,415,955,000 | 79.68 per US$ | 79.35 per US$ | $ | 2,739,127 | Jun 2013 - Aug 2013 | Q2 FY14 | ||||||||||
YEN | 1,473,623,000 | 84.32 per US$ | 84.03 per US$ | $ | 1,798,356 | Sep 2013 - Nov 2013 | Q3 FY14 | ||||||||||
YEN | 1,415,536,000 | 93.92 per US$ | 93.57 per US$ | $ | 53,287 | Dec 2013 -Feb 2014 | Q4 FY14 | ||||||||||
GBP | (777,000 | ) | 1.593 | 1.590 | $ | (58,703 | ) | Feb 2012- Apr 2013 | Q1 FY14 | ||||||||
GBP | (777,000 | ) | 1.568 | 1.567 | $ | (40,758 | ) | May 2012- Jul 2013 | Q2 FY14 | ||||||||
CAD | (1,868,000 | ) | 1.01 per US$ | 1.02 per US$ | $ | 2,483 | Mar 2013 - May 2013 | Q1 FY14 | |||||||||
CAD | (1,587,000 | ) | 1.00 per US$ | 1.01 per US$ | $ | (22,283 | ) | Jun 2013 - Aug 2013 | Q2 FY14 | ||||||||
CAD | (1,853,000 | ) | 1.00 per US$ | 1.01 per US$ | $ | (29,503 | ) | Sep 2013 - Nov 2013 | Q3 FY14 | ||||||||
CAD | (436,000 | ) | 1.02 per US$ | 1.03 per US$ | $ | 2,102 | Dec 2013 - Feb 2014 | Q4 FY14 | |||||||||
CHF | (5,527,000 | ) | 0.96 per US$ | 0.95 per US$ | $ | 10,666 | Apr 2013 - Jun 2013 | Q1 FY14 | |||||||||
CHF | (6,083,000 | ) | 0.95 per US$ | 0.95 per US$ | $ | 8,425 | Jul 2013 - Sep 2013 | Q2 FY14 | |||||||||
CHF | (7,070,000 | ) | 0.92 per US$ | 0.91 per US$ | $ | (236,730 | ) | Jul 2013 - Sep 2013 | Q3 FY14 | ||||||||
CHF | (1,604,800 | ) | 0.94 per US$ | 0.94 per US$ | $ | (11,474 | ) | Oct 2013 - Dec 2013 | Q4 FY14 | ||||||||
MXN | (8,629,000 | ) | 12.34 per US$ | 12.36 per US$ | $ | (891 | ) | Feb 2013 - Apr 2013 | Q1 FY14 | ||||||||
MXN | (8,629,000 | ) | 12.39 per US$ | 12.45 per US$ | $ | 2,275 | May 2013- Jul 2013 | Q2 FY14 | |||||||||
$ | 6,077,474 |
Year Ended | |||||||||||
March 30, 2013 | March 31, 2012 | April 2, 2011 | |||||||||
Net revenues | $ | 891,990 | $ | 727,844 | $ | 676,694 | |||||
Cost of goods sold | 463,859 | 358,604 | 321,485 | ||||||||
Gross profit | 428,131 | 369,240 | 355,209 | ||||||||
Operating expenses: | |||||||||||
Research and development | 44,394 | 36,801 | 32,656 | ||||||||
Selling, general and administrative | 323,053 | 245,261 | 213,899 | ||||||||
Contingent consideration income | — | (1,580 | ) | (1,894 | ) | ||||||
Asset write-down | 4,247 | — | — | ||||||||
Total operating expenses | 371,694 | 280,482 | 244,661 | ||||||||
Operating income | 56,437 | 88,758 | 110,548 | ||||||||
Other income (expense), net | (6,540 | ) | 740 | (467 | ) | ||||||
Income before provision for income taxes | 49,897 | 89,498 | 110,081 | ||||||||
Provision for income taxes | 11,097 | 22,612 | 30,101 | ||||||||
Net income | $ | 38,800 | $ | 66,886 | $ | 79,980 | |||||
Net income per share - basic | $ | 0.76 | $ | 1.32 | $ | 1.59 | |||||
Net income per share - diluted | $ | 0.74 | $ | 1.30 | $ | 1.56 | |||||
Weighted average shares outstanding | |||||||||||
Basic | 51,349 | 50,727 | 50,154 | ||||||||
Diluted | 52,259 | 51,590 | 51,192 |
Year Ended | |||||||||||
March 30, 2013 | March 31, 2012 | April 2, 2011 | |||||||||
Net income | $ | 38,800 | $ | 66,886 | $ | 79,980 | |||||
Other comprehensive (loss)/income: | |||||||||||
Impact of defined benefit plans, net of tax | (820 | ) | (3,988 | ) | 555 | ||||||
Foreign currency translation adjustment | (4,705 | ) | (2,813 | ) | 6,380 | ||||||
Unrealized (loss)/gain on cash flow hedges, net of tax | 4,594 | 3,140 | (4,068 | ) | |||||||
Reclassifications into earnings of cash flow hedge losses/(gains), net of tax | (2,746 | ) | 3,230 | 769 | |||||||
Other comprehensive (loss)/income | (3,677 | ) | (431 | ) | 3,636 | ||||||
Comprehensive income | $ | 35,123 | $ | 66,455 | $ | 83,616 | |||||
March 30, 2013 | March 31, 2012 | ||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 179,120 | $ | 228,861 | |||
Accounts receivable, less allowance of $1,727 at March 30, 2013 and $1,480 at March 31, 2012 | 170,111 | 135,464 | |||||
Inventories, net | 183,784 | 117,163 | |||||
Deferred tax asset, net | 13,782 | 9,665 | |||||
Prepaid expenses and other current assets | 50,213 | 35,976 | |||||
Total current assets | 597,010 | 527,129 | |||||
Property, plant and equipment: | |||||||
Land, building and building improvements | 82,898 | 59,816 | |||||
Plant equipment and machinery | 205,698 | 136,057 | |||||
Office equipment and information technology | 103,235 | 88,185 | |||||
Haemonetics equipment | 240,889 | 226,476 | |||||
Total property, plant and equipment | 632,720 | 510,534 | |||||
Less: accumulated depreciation | (375,767 | ) | (348,877 | ) | |||
Net property, plant and equipment | 256,953 | 161,657 | |||||
Other assets: | |||||||
Intangible assets | 264,388 | 96,549 | |||||
Goodwill | 330,474 | 115,058 | |||||
Deferred tax asset, long term | 1,751 | 23 | |||||
Other long-term assets | 11,341 | 10,719 | |||||
Total other assets | 607,954 | 222,349 | |||||
Total assets | $ | 1,461,917 | $ | 911,135 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
Current liabilities: | |||||||
Notes payable and current maturities of long-term debt | $ | 23,150 | $ | 894 | |||
Accounts payable | 49,893 | 35,425 | |||||
Accrued payroll and related costs | 45,697 | 29,451 | |||||
Accrued income taxes | 4,053 | 8,075 | |||||
Other liabilities | 57,351 | 56,899 | |||||
Total current liabilities | 180,144 | 130,744 | |||||
Long-term debt, net of current maturities | 456,944 | 2,877 | |||||
Long-term deferred tax liability | 29,552 | 23,332 | |||||
Other long-term liabilities | 26,095 | 21,551 | |||||
Commitments and contingencies (Note 12) | |||||||
Stockholders’ equity: | |||||||
Common stock, $0.01 par value; Authorized — 150,000,000 shares; Issued and outstanding — 51,031,563 shares at March 30, 2013 and 50,603,798 shares at March 31, 2012 | 510 | 506 | |||||
Additional paid-in capital | 365,040 | 322,232 | |||||
Retained earnings | 398,199 | 400,783 | |||||
Accumulated other comprehensive income | 5,433 | 9,110 | |||||
Total stockholders’ equity | 769,182 | 732,631 | |||||
Total liabilities and stockholders’ equity | $ | 1,461,917 | $ | 911,135 |
Common Stock | Additional Paid-in | Retained | Accumulated Other Comprehensive | Total Stockholders’ | ||||||||||||||||||
Shares | $’s | Capital | Earnings | Income/(Loss) | Equity | |||||||||||||||||
Balance, April 3, 2010 | 50,882 | $ | 508 | $ | 252,070 | $ | 334,641 | $ | 5,905 | $ | 593,124 | |||||||||||
Employee stock purchase plan | 156 | 2 | 3,679 | — | — | 3,681 | ||||||||||||||||
Exercise of stock options and related tax benefit | 2,024 | 20 | 44,885 | — | — | 44,905 | ||||||||||||||||
Shares repurchased | (1,814 | ) | (18 | ) | (8,991 | ) | (40,991 | ) | — | (50,000 | ) | |||||||||||
Issuance of restricted stock, net of cancellations | 72 | 1 | (1 | ) | — | — | — | |||||||||||||||
Stock compensation expense | — | — | 10,810 | — | — | 10,810 | ||||||||||||||||
Net income | — | — | — | 79,980 | — | 79,980 | ||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | 3,636 | 3,636 | ||||||||||||||||
Balance, April 2, 2011 | 51,320 | $ | 513 | $ | 302,452 | $ | 373,630 | $ | 9,541 | $ | 686,136 | |||||||||||
Employee stock purchase plan | 154 | 2 | 3,721 | — | — | 3,723 | ||||||||||||||||
Exercise of stock options and related tax benefit | 738 | 7 | 17,021 | — | — | 17,028 | ||||||||||||||||
Shares repurchased | (1,704 | ) | (17 | ) | (10,248 | ) | (39,733 | ) | — | (49,998 | ) | |||||||||||
Issuance of restricted stock, net of cancellations | 96 | 1 | — | — | — | 1 | ||||||||||||||||
Stock compensation expense | — | — | 9,286 | — | — | 9,286 | ||||||||||||||||
Net income | — | — | — | 66,886 | — | 66,886 | ||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | (431 | ) | (431 | ) | ||||||||||||||
Balance, March 31, 2012 | 50,604 | $ | 506 | $ | 322,232 | $ | 400,783 | $ | 9,110 | $ | 732,631 | |||||||||||
Employee stock purchase plan | 151 | 1 | 4,141 | — | — | 4,142 | ||||||||||||||||
Exercise of stock options and related tax benefit | 1,398 | 14 | 35,801 | — | — | 35,815 | ||||||||||||||||
Stock-based compensation adjustment related to acquisition | — | — | 504 | — | — | 504 | ||||||||||||||||
Shares repurchased | (1,236 | ) | (12 | ) | (8,607 | ) | (41,384 | ) | — | (50,003 | ) | |||||||||||
Issuance of restricted stock, net of cancellations | 115 | 1 | — | — | — | 1 | ||||||||||||||||
Stock compensation expense | — | — | 10,969 | — | — | 10,969 | ||||||||||||||||
Net income | — | — | — | 38,800 | — | 38,800 | ||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | (3,677 | ) | (3,677 | ) | ||||||||||||||
Balance, March 30, 2013 | 51,032 | $ | 510 | $ | 365,040 | $ | 398,199 | $ | 5,433 | $ | 769,182 |
Year Ended | |||||||||||
March 30, 2013 | March 31, 2012 | April 2, 2011 | |||||||||
Cash Flows from Operating Activities: | |||||||||||
Net income | $ | 38,800 | $ | 66,886 | $ | 79,980 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Non cash items: | |||||||||||
Depreciation and amortization | 65,481 | 49,966 | 48,145 | ||||||||
Amortization of financing costs | 1,139 | — | — | ||||||||
Stock compensation expense | 10,969 | 9,286 | 10,810 | ||||||||
Deferred tax expense | 589 | 5,878 | 5,782 | ||||||||
Loss on sale of property, plant and equipment | 351 | 772 | 674 | ||||||||
Unrealized loss from hedging activities | 700 | 166 | (614 | ) | |||||||
Contingent consideration income | — | (1,580 | ) | (1,894 | ) | ||||||
Reversal of interest expense on contingent consideration | — | (574 | ) | (416 | ) | ||||||
Asset write-down | 4,247 | — | — | ||||||||
Change in operating assets and liabilities: | |||||||||||
Increase in accounts receivable, net | (38,080 | ) | (10,539 | ) | (3,920 | ) | |||||
Increase in inventories | (18,685 | ) | (32,528 | ) | (2,560 | ) | |||||
(Increase)/decrease in prepaid income taxes | (4,025 | ) | 3,058 | 1,680 | |||||||
(Increase)/decrease in other assets and other long-term liabilities | (6,187 | ) | 3,156 | (470 | ) | ||||||
Tax benefit of exercise of stock options | 4,194 | 1,958 | 4,941 | ||||||||
(Decrease)/increase in accounts payable and accrued expenses | 25,581 | 19,413 | (18,683 | ) | |||||||
Net cash provided by operating activities | 85,074 | 115,318 | 123,455 | ||||||||
Cash Flows from Investing Activities: | |||||||||||
Capital expenditures on property, plant and equipment | (62,188 | ) | (53,198 | ) | (46,669 | ) | |||||
Proceeds from sale of property, plant and equipment | 1,968 | 1,002 | 1,468 | ||||||||
Acquisition of Whole Blood Business | (535,175 | ) | — | — | |||||||
Acquisition of Global Med Technologies | — | — | (128 | ) | |||||||
Acquisition of ACCS | — | — | (6,229 | ) | |||||||
Investment in Hemerus | (1,000 | ) | — | — | |||||||
Net cash used in investing activities | (596,395 | ) | (52,196 | ) | (51,558 | ) | |||||
Cash Flows from Financing Activities: | |||||||||||
Payments on long-term real estate mortgage | (886 | ) | (815 | ) | (632 | ) | |||||
Net (decrease)/increase in short-term loans | 7,446 | (288 | ) | (15,153 | ) | ||||||
Term loan borrowings | 475,000 | — | — | ||||||||
Debt issuance costs | (5,467 | ) | — | — | |||||||
Proceeds from employee stock purchase plan | 4,142 | 3,723 | 3,681 | ||||||||
Proceeds from exercise of stock options | 27,517 | 15,475 | 40,896 | ||||||||
Excess tax benefit on exercise of stock options | 4,101 | 1,433 | 3,124 | ||||||||
Share repurchase | (50,000 | ) | (49,998 | ) | (50,000 | ) | |||||
Net cash provided by (used in) financing activities | 461,853 | (30,470 | ) | (18,084 | ) | ||||||
Effect of exchange rates on cash and cash equivalents | (273 | ) | (498 | ) | 1,332 | ||||||
Net (Decrease)/Increase in Cash and Cash Equivalents | (49,741 | ) | 32,154 | 55,145 | |||||||
Cash and Cash Equivalents at Beginning of Year | 228,861 | 196,707 | 141,562 | ||||||||
Cash and Cash Equivalents at End of Period | $ | 179,120 | $ | 228,861 | $ | 196,707 | |||||
Non-cash Investing and Financing Activities: | |||||||||||
Transfers from inventory to fixed assets for placement of Haemonetics equipment | 21,677 | 18,333 | 5,069 | ||||||||
Supplemental Disclosures of Cash Flow Information: | |||||||||||
Interest paid | $ | 5,910 | $ | 414 | $ | 487 | |||||
Income taxes paid | $ | 13,178 | $ | 10,764 | $ | 16,669 |
Asset Classification | Estimated Useful Lives | |
Building | 30 years | |
Building improvements | 5-20 Years | |
Plant equipment and machinery | 3-10 Years | |
Office equipment and information technology | 3-10 Years | |
Haemonetics equipment | 3-7 Years |
• | Purchase and consumption of a certain level of disposable product |
• | Payment of monthly rental fees |
• | An asset utilization performance metric, such as performing a minimum level of procedures per month per device |
(In thousands) | March 30, 2013 | March 31, 2012 | |||||
VAT Liabilities | $ | 5,121 | $ | 6,875 | |||
Forward Contracts | 1,786 | 1,185 | |||||
Deferred Revenue | 23,737 | 24,132 | |||||
HS Core Liability (a) | 156 | 3,654 | |||||
All Other | 26,551 | 21,053 | |||||
Total | $ | 57,351 | $ | 56,899 |
(a) | See Note 10, Commitments and Contingencies, for details of the HS Core quality issue that occurred during the first quarter of 2012. |
Asset class | Amounts Recognized as of March 30, 2013 (Provisional) | |||
(In thousands) | ||||
Inventories | $ | 49,917 | ||
Property, plant and equipment | 85,984 | |||
Intangible assets | 188,500 | |||
Other assets/liabilities, net | (6,166 | ) | ||
Goodwill | 216,940 | |||
Fair value of net assets acquired | $ | 535,175 |
(In thousands) | March 30, 2013 | March 31, 2012 | ||||||
Net sales | $ | 963,923 | $ | 963,643 | ||||
Net income | 56,540 | 77,984 | ||||||
Basic earnings per share | $ | 1.10 | $ | 1.54 | ||||
Diluted earnings per share | $ | 1.08 | $ | 1.51 |
(In thousands) | March 30, 2013 | March 31, 2012 | ||||||
Transaction costs (1) | $ | 3,184 | $ | 3,000 | ||||
Amortization of inventory fair value adjustment (2) | 11,948 | (11,948 | ) | |||||
Amortization of acquired intangible assets (3) | (5,236 | ) | (15,708 | ) | ||||
Interest expense incurred on acquisition financing (4) | (3,173 | ) | (9,520 | ) | ||||
Selling, general and administrative expenses (5) | (3,513 | ) | (10,540 | ) |
(1) | Eliminated transactions costs as these non-recurring costs were incurred in fiscal 2013. |
(2) | Added additional expense in the period ended March 31, 2012 to reflect the inventory fair value adjustments which would have been amortized had the transaction been consummated on April 3, 2011 as the corresponding inventory would have been completely sold during the first two quarters of 2011. Also, deducted the actual inventory fair value adjustment recorded in the fiscal year ended March 30, 2013 to reflect the pro-forma consumption of inventory in 2011. |
(3) | Added additional amortization of the acquired whole blood intangible assets recognized at fair value in purchase accounting. |
(4) | Added additional interest expense for the debt used to finance the acquisition. |
(5) | Additional investments in infrastructure costs to replicate certain support functions performed by division or corporate organizations of Pall that did not transfer in the acquisition. These costs are primarily related to information technology infrastructure and application costs, and personnel costs required to expand regional and corporate administrative and sales support functions. These costs are not intended to be representative of actual costs incurred by Pall Corporation, and represent Haemonetics' best estimate of future incremental costs on an annualized basis. Actual incremental investments may differ from these estimates. |
(In thousands) | March 30, 2013 | March 31, 2012 | |||||
Warranty accrual as of the beginning of the period | $ | 796 | $ | 1,273 | |||
Warranty provision | 1,180 | 2,430 | |||||
Warranty spending | (1,303 | ) | (2,907 | ) | |||
Warranty accrual as of the end of the period | $ | 673 | $ | 796 |
(In thousands) | March 30, 2013 | March 31, 2012 | |||||
Raw materials | $ | 70,716 | $ | 41,219 | |||
Work-in-process | 7,829 | 4,640 | |||||
Finished goods | 105,239 | 71,304 | |||||
$ | 183,784 | $ | 117,163 |
(In thousands) | |||
Carrying amount as of April 2, 2011 | $ | 115,367 | |
Effect of change in foreign currency exchange rates | (309 | ) | |
Carrying amount as of March 31, 2012 | $ | 115,058 | |
Whole blood business (a) | 216,940 | ||
Effect of change in foreign currency exchange rates | (1,524 | ) | |
Carrying amount as of March 30, 2013 | $ | 330,474 |
(a) | See Note 3, Acquisitions, for a full description of the acquisition of the whole blood assets, which occurred on August 1, 2012. |
Gross Carrying Amount | Accumulated Amortization | Net | Weighted Average Useful Life | ||||||||||
(In thousands) | (In thousands) | (In thousands) | (In years) | ||||||||||
As of March 30, 2013 | |||||||||||||
Patents | $ | 8,706 | $ | 6,397 | $ | 2,309 | 10 | ||||||
Capitalized software | 26,841 | 2,333 | 24,508 | 6 | |||||||||
Other developed technology | 99,486 | 24,843 | 74,643 | 12 | |||||||||
Customer contracts and related relationships | 196,365 | 36,552 | 159,813 | 12 | |||||||||
Trade names | 5,383 | 2,268 | 3,115 | 10 | |||||||||
Total intangibles | $ | 336,781 | $ | 72,393 | $ | 264,388 | 11 |
Gross Carrying Amount | Accumulated Amortization | Net | Weighted Average Useful Life | ||||||||||
(In thousands) | (In thousands) | (In thousands) | (In years) | ||||||||||
As of March 31, 2012 | |||||||||||||
Patents | $ | 13,463 | $ | 7,843 | $ | 5,620 | 11 | ||||||
Capitalized software | 20,597 | 1,394 | 19,203 | 6 | |||||||||
Other developed technology | 42,693 | 20,120 | 22,573 | 11 | |||||||||
Customer contracts and related relationships | 69,361 | 23,639 | 45,722 | 12 | |||||||||
Trade names | 5,408 | 1,977 | 3,431 | 10 | |||||||||
Total intangibles | $ | 151,522 | $ | 54,973 | $ | 96,549 | 11 |
Derivative Instruments | Amount of Gain/(Loss) Recognized in OCI (Effective Portion) | Amount of Gain/(Loss) Reclassified from OCI into Earnings (Effective Portion) | Location in Statement of Operations | Amount of Gain/(Loss) Excluded from Effectiveness Testing (*) | Location in Statement of Operations | |||||||||||
(In thousands) | ||||||||||||||||
Designated foreign currency hedge contracts, net of tax | $ | 5,104 | $ | 2,746 | Net revenues, COGS, and SG&A | $ | (337 | ) | Other income (expense), net | |||||||
Non-designated foreign currency hedge contracts | — | — | $ | 1,214 | Other income (expense) | |||||||||||
Designated interest rate swaps, net of tax | $ | (779 | ) | $ | (269 | ) | Interest income (expense), net | $ | — |
(*) | We exclude the difference between the spot rate and hedge forward rate from our effectiveness testing. |
(In thousands) | Location in Balance Sheet | Balance as of March 30, 2013 | Balance as of March 31, 2012 | ||||||
Derivative Assets: | |||||||||
Designated foreign currency hedge contracts | Other current assets | $ | 7,030 | $ | 6,186 | ||||
$ | 7,030 | $ | 6,186 | ||||||
Derivative Liabilities: | |||||||||
Designated foreign currency hedge contracts | Other current liabilities | $ | 954 | $ | 1,185 | ||||
Designated interest rate swaps | Other current liabilities | 671 | — | ||||||
$ | 1,625 | $ | 1,185 |
• | Level 1 — Inputs to the valuation methodology are quoted market prices for identical assets or liabilities. |
• | Level 2 — Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs. |
• | Level 3 — Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk. |
As of March 30, 2013 | Quoted Market Prices for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||
(In thousands) | (In thousands) | (In thousands) | (In thousands) | ||||||||||||
Assets | |||||||||||||||
Money market funds | $ | 141,120 | $ | — | $ | — | $ | 141,120 | |||||||
Foreign currency hedge contracts | — | 7,030 | — | 7,030 | |||||||||||
$ | 141,120 | $ | 7,030 | $ | — | $ | 148,150 | ||||||||
Liabilities | |||||||||||||||
Foreign currency hedge contracts | $ | — | $ | 954 | $ | — | $ | 954 | |||||||
Interest rate swap | — | 671 | — | 671 | |||||||||||
$ | — | $ | 1,625 | $ | — | $ | 1,625 |
As of March 31, 2012 | Quoted Market Prices for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |||||||||||
(In thousands) | (In thousands) | (In thousands) | (In thousands) | ||||||||||||
Assets | |||||||||||||||
Money market funds | $ | 194,574 | $ | — | $ | — | $ | 194,574 | |||||||
Forward currency hedge contracts | — | 6,186 | — | 6,186 | |||||||||||
$ | 194,574 | $ | 6,186 | $ | — | $ | 200,760 | ||||||||
Liabilities | |||||||||||||||
Forward currency hedge contracts | $ | — | $ | 1,185 | $ | — | $ | 1,185 | |||||||
$ | — | $ | 1,185 | $ | — | $ | 1,185 |
(In thousands) | March 30, 2013 | March 31, 2012 | |||||
Term loan, net of financing fees | $ | 471,016 | $ | — | |||
Real estate mortgage | 2,877 | 3,771 | |||||
Bank loan | 6,201 | — | |||||
Less current portion | (23,150 | ) | (894 | ) | |||
Long term debt | $ | 456,944 | $ | 2,877 |
Fiscal Year | Term Loan Amortization Schedule | ||
(In thousands) | |||
2014 | $ | 17,813 | |
2015 | $ | 47,500 | |
2016 | $ | 71,250 | |
2017 | $ | 190,000 | |
2018 | $ | 148,438 |
Fiscal Year Ending | |||
(In thousands) | |||
2014 | $ | 23,150 | |
2015 | 47,553 | ||
2016 | 71,416 | ||
2017 | 189,556 | ||
2018 | 148,419 | ||
$ | 480,094 |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||||
Domestic | $ | 17,360 | $ | 40,666 | $ | 58,040 | |||||
Foreign | 32,537 | 48,832 | 52,041 | ||||||||
Total | $ | 49,897 | $ | 89,498 | $ | 110,081 |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||||
Current | |||||||||||
Federal | $ | 3,795 | $ | 8,505 | $ | 14,982 | |||||
State | 1,324 | 2,275 | 2,111 | ||||||||
Foreign | 5,389 | 5,954 | 7,226 | ||||||||
Total current | $ | 10,508 | $ | 16,734 | $ | 24,319 | |||||
Deferred | |||||||||||
Federal | 1,644 | 7,522 | 4,931 | ||||||||
State | (229 | ) | (597 | ) | 438 | ||||||
Foreign | (826 | ) | (1,047 | ) | 413 | ||||||
Total deferred | $ | 589 | $ | 5,878 | $ | 5,782 | |||||
Total | $ | 11,097 | $ | 22,612 | $ | 30,101 |
(In thousands) | March 30, 2013 | March 31, 2012 | |||||
Depreciation | $ | (25,186 | ) | $ | (17,208 | ) | |
Amortization | (14,776 | ) | (19,249 | ) | |||
Inventory | 7,884 | 4,224 | |||||
Hedging | (162 | ) | (589 | ) | |||
Accruals and reserves | 7,208 | 6,352 | |||||
Net operating loss carry-forward | 1,877 | 3,354 | |||||
Stock based compensation | 7,834 | 8,649 | |||||
Tax credit carry-forward, net | 2,243 | 2,328 | |||||
Gross deferred taxes | $ | (13,078 | ) | $ | (12,139 | ) | |
Less valuation allowance | (1,009 | ) | (1,569 | ) | |||
Net deferred tax liability | $ | (14,087 | ) | $ | (13,708 | ) |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | |||||||||||||||||
Tax at federal statutory rate | $ | 17,464 | 35.0 | % | $ | 31,324 | 35.0 | % | $ | 38,528 | 35.0 | % | ||||||||
Domestic manufacturing deduction | (504 | ) | (1.0 | )% | (700 | ) | (0.8 | )% | (1,120 | ) | (1.0 | )% | ||||||||
Difference between U.S. and foreign tax | (5,584 | ) | (11.2 | )% | (8,539 | ) | (9.5 | )% | (8,610 | ) | (7.9 | )% | ||||||||
State income taxes net of federal benefit | 718 | 1.4 | % | 1,136 | 1.3 | % | 1,741 | 1.6 | % | |||||||||||
Repatriation of earnings | — | — | % | — | — | % | (506 | ) | (0.5 | )% | ||||||||||
Research credit | (799 | ) | (1.6 | )% | (752 | ) | (0.9 | )% | (209 | ) | (0.2 | )% | ||||||||
Other, net | (198 | ) | (0.4 | )% | 143 | 0.2 | % | 277 | 0.3 | % | ||||||||||
Income tax provision | $ | 11,097 | 22.2 | % | $ | 22,612 | 25.3 | % | $ | 30,101 | 27.3 | % |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||||
Beginning Balance | $ | 6,885 | $ | 4,669 | $ | 4,620 | |||||
Additions based upon positions related to the current year | 1,192 | 1,124 | 20 | ||||||||
Additions for tax positions of prior years | 18 | 1,216 | 1,641 | ||||||||
Reductions of tax positions | — | (124 | ) | (1,042 | ) | ||||||
Settlements with taxing authorities | (80 | ) | — | — | |||||||
Closure of statute of limitations | (1,085 | ) | — | (570 | ) | ||||||
Ending Balance | $ | 6,930 | $ | 6,885 | $ | 4,669 |
Fiscal Year Ending | |||
(In thousands) | |||
2014 | $ | 7,742 | |
2015 | 6,321 | ||
2016 | 3,445 | ||
2017 | 2,103 | ||
2018 | 1,685 | ||
Thereafter | 2,689 | ||
$ | 23,985 |
Options Outstanding (shares) | Weighted Average Exercise Price per Share | Weighted Average Remaining Life (years) | Aggregate Intrinsic Value ($000’s) | |||||||||
Outstanding at March 31, 2012 | 4,847,134 | $ | 26.15 | 3.87 | $ | 42,134 | ||||||
Granted | 904,998 | 38.60 | ||||||||||
Exercised | (1,402,298 | ) | 22.86 | |||||||||
Forfeited | (280,076 | ) | 29.05 | |||||||||
Outstanding at March 30, 2013 | 4,069,758 | $ | 29.85 | 4.31 | $ | 48,061 | ||||||
Exercisable at March 30, 2013 | 2,052,602 | $ | 26.42 | 4.22 | $ | 31,287 | ||||||
Vested or expected to vest at March 30, 2013 | 3,838,353 | $ | 29.56 | 3.09 | $ | 46,433 |
March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||
Volatility | 26.4 | % | 27.5 | % | 28.2 | % | ||
Expected life (years) | 4.9 | 4.9 | 4.9 | |||||
Risk-free interest rate | 0.8 | % | 1.1 | % | 1.8 | % | ||
Dividend yield | 0.0 | % | 0.0 | % | 0.0 | % |
March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||
Volatility | 24.9 | % | 26.3 | % | 21.1 | % | ||
Expected life (months) | 6 | 6 | 6 | |||||
Risk-free interest rate | 0.2 | % | 0.1 | % | 0.2 | % | ||
Dividend Yield | 0.0 | % | 0.0 | % | 0.0 | % |
Shares | Weighted Average Market Value at Grant Date | |||||
Nonvested at March 31, 2012 | 321,526 | $ | 25.86 | |||
Awarded | 178,322 | 32.85 | ||||
Released | (112,986 | ) | 27.47 | |||
Forfeited | (30,443 | ) | 31.23 | |||
Nonvested at March 30, 2013 | 356,419 | $ | 34.06 |
(In thousands) | Foreign Currency Translation | Unrealized Gain/(Loss) on Derivatives, Net of Tax | Impact of Defined Benefit Plans, Net of Tax | Accumulated Other Comprehensive Income | ||||||||||||
Balance, April 3, 2010 | $ | 5,271 | $ | 1,454 | $ | (820 | ) | $ | 5,905 | |||||||
Changes during the year | 6,380 | (3,299 | ) | 555 | 3,636 | |||||||||||
Balance, April 2, 2011 | $ | 11,651 | $ | (1,845 | ) | $ | (265 | ) | $ | 9,541 | ||||||
Changes during the year | (2,813 | ) | 6,370 | (3,988 | ) | (431 | ) | |||||||||
Balance, March 31, 2012 | $ | 8,838 | $ | 4,525 | $ | (4,253 | ) | $ | 9,110 | |||||||
Changes during the year | (4,705 | ) | 1,848 | (820 | ) | (3,677 | ) | |||||||||
Balance, March 30, 2013 | $ | 4,133 | $ | 6,373 | $ | (5,073 | ) | $ | 5,433 |
(In thousands, except per share amounts) | March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||||
Basic EPS | |||||||||||
Net income | $ | 38,800 | $ | 66,886 | $ | 79,980 | |||||
Weighted average shares | 51,349 | 50,727 | 50,154 | ||||||||
Basic income per share | $ | 0.76 | $ | 1.32 | $ | 1.59 | |||||
Diluted EPS | |||||||||||
Net income | $ | 38,800 | $ | 66,886 | $ | 79,980 | |||||
Basic weighted average shares | 51,349 | 50,727 | 50,154 | ||||||||
Net effect of common stock equivalents | 910 | 863 | 1,038 | ||||||||
Diluted weighted average shares | 52,259 | 51,590 | 51,192 | ||||||||
Diluted income per share | $ | 0.74 | $ | 1.30 | $ | 1.56 |
(In thousands) | March 30, 2013 | March 31, 2012 | ||||||
Land | $ | 4,216 | $ | 1,136 | ||||
Building and building improvements | 78,682 | 58,680 | ||||||
Plant equipment and machinery | 205,698 | 136,057 | ||||||
Office equipment and information technology | 103,235 | 88,185 | ||||||
Haemonetics equipment | 240,889 | 226,476 | ||||||
Total | 632,720 | 510,534 | ||||||
Less: accumulated depreciation and amortization | (375,767 | ) | (348,877 | ) | ||||
Property, plant and equipment, net | $ | 256,953 | $ | 161,657 |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||||
Service cost | $ | 2,759 | $ | 2,545 | $ | 667 | |||||
Interest cost on benefit obligation | 639 | 601 | 283 | ||||||||
Expected (return)/loss on plan assets | (413 | ) | 2 | (467 | ) | ||||||
Actuarial (gain)/loss | 196 | (385 | ) | (48 | ) | ||||||
Amortization of unrecognized prior service cost | (14 | ) | (31 | ) | 381 | ||||||
Amortization of unrecognized transition obligation | 48 | 221 | 30 | ||||||||
Totals | $ | 3,215 | $ | 2,953 | $ | 846 |
(In thousands) | March 30, 2013 | March 31, 2012 | |||||
Change in Benefit Obligation: | |||||||
Benefit Obligation, beginning of year | $ | (27,150 | ) | $ | (22,707 | ) | |
Service cost | (2,759 | ) | (2,545 | ) | |||
Interest cost | (639 | ) | (601 | ) | |||
Benefits paid | 3,210 | 1,952 | |||||
Actuarial (loss)/gain | (1,364 | ) | (1,244 | ) | |||
Employee and plan participants contribution | (2,926 | ) | (1,728 | ) | |||
Plan Amendments | — | (193 | ) | ||||
Foreign currency changes | 1,502 | (84 | ) | ||||
Benefit obligation, end of year | $ | (30,126 | ) | $ | (27,150 | ) | |
Change in Plan Assets: | |||||||
Fair value of plan assets, beginning of year | $ | 18,185 | $ | 15,798 | |||
Company contributions | 2,381 | 2,156 | |||||
Benefits paid | (3,210 | ) | (1,873 | ) | |||
Gain/(Loss) on plan assets | 397 | 124 | |||||
Employee and plan participants contributions | 2,926 | 1,728 | |||||
Foreign currency changes | (1,102 | ) | 252 | ||||
Fair value of Plan Assets, end of year | $ | 19,577 | $ | 18,185 | |||
Funded Status | $ | (10,549 | ) | $ | (8,965 | ) | |
Unrecognized net actuarial loss/(gain) | 5,418 | 4,513 | |||||
Unrecognized initial obligation | 184 | 141 | |||||
Unrecognized prior service cost | 138 | 254 | |||||
Net amount recognized | $ | (4,809 | ) | $ | (4,057 | ) |
Balance, April 3, 2010 | $ | (820 | ) |
Obligation at transition | 574 | ||
Actuarial loss | (50 | ) | |
Prior service cost | 31 | ||
Balance as of April 2, 2011 | $ | (265 | ) |
Obligation at transition | 30 | ||
Actuarial loss | (3,701 | ) | |
Prior service cost | (317 | ) | |
Balance as of March 31, 2012 | $ | (4,253 | ) |
Obligation at transition | 556 | ||
Actuarial loss | (1,237 | ) | |
Prior service cost | (139 | ) | |
Balance as of March 30, 2013 | $ | (5,073 | ) |
March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||
Discount rate | 1.97 | % | 2.40 | % | 5.30 | % | ||
Rate of increased salary levels | 1.42 | % | 1.50 | % | 2.60 | % | ||
Expected long-term rate of return on assets | 1.92 | % | 2.10 | % | 1.60 | % |
Expected Benefit Payments | |||
Fiscal Year 2014 | $ | 1,200 | |
Fiscal Year 2015 | $ | 1,327 | |
Fiscal Year 2016 | $ | 1,308 | |
Fiscal Year 2017 | $ | 1,217 | |
Fiscal Year 2018 | $ | 844 | |
Fiscal Year 2019-2023 | $ | 4,714 |
(In thousands) | March 30, 2013 | March 31, 2012 | April 2, 2011 | ||||||||
Disposable revenues | |||||||||||
Plasma disposables | $ | 268,900 | $ | 258,061 | $ | 227,209 | |||||
Blood center disposables | |||||||||||
Platelet | 169,602 | 167,946 | 156,251 | ||||||||
Red cell | 49,733 | 48,034 | 46,828 | ||||||||
Whole blood | 138,436 | — | — | ||||||||
357,771 | 215,980 | 203,079 | |||||||||
Hospital disposables | |||||||||||
Surgical | 73,508 | 66,619 | 66,503 | ||||||||
OrthoPAT | 30,230 | 31,186 | 35,631 | ||||||||
Diagnostics | 27,356 | 23,087 | 19,414 | ||||||||
131,094 | 120,892 | 121,548 | |||||||||
Disposables revenue | 757,765 | 594,933 | 551,836 | ||||||||
Software solutions | 69,952 | 70,557 | 66,876 | ||||||||
Equipment & other | 64,273 | 62,354 | 57,982 | ||||||||
Total revenues | $ | 891,990 | $ | 727,844 | $ | 676,694 |
March 30, 2013 | United States | Other North America | Total North America | Japan | Other Asia | Total Europe | Total Consolidated | ||||||||||||||||||||
Sales | $ | 454,874 | $ | 6,851 | $ | 461,725 | $ | 120,726 | $ | 84,860 | $ | 224,679 | $ | 891,990 | |||||||||||||
Total Assets | $ | 830,754 | $ | 225,849 | $ | 1,056,603 | $ | 44,189 | $ | 41,037 | $ | 320,088 | $ | 1,461,917 | |||||||||||||
Long-Lived Assets | $ | 503,606 | $ | 209,439 | $ | 713,045 | $ | 12,977 | $ | 8,076 | $ | 117,717 | $ | 851,815 |
March 31, 2012 | United States | Other North America | Total North America | Japan | Other Asia | Total Europe | Total Consolidated | ||||||||||||||||||||
Sales | $ | 352,160 | $ | 512 | $ | 352,672 | $ | 124,381 | $ | 67,223 | $ | 183,568 | $ | 727,844 | |||||||||||||
Total Assets | $ | 634,171 | $ | 15,365 | $ | 649,536 | $ | 50,509 | $ | 27,353 | $ | 183,737 | $ | 911,135 | |||||||||||||
Long-Lived Assets | $ | 305,370 | $ | 12,796 | $ | 318,166 | $ | 13,128 | $ | 3,961 | $ | 38,009 | $ | 373,264 |
April 2, 2011 | United States | Other North America | Total North America | Japan | Other Asia | Total Europe | Total Consolidated | ||||||||||||||||||||
Sales | $ | 316,447 | $ | 908 | $ | 317,355 | $ | 110,263 | $ | 61,594 | $ | 187,482 | $ | 676,694 | |||||||||||||
Total Assets | $ | 582,733 | $ | 15,903 | $ | 598,636 | $ | 47,156 | $ | 18,164 | $ | 169,308 | $ | 833,264 | |||||||||||||
Long-Lived Assets | $ | 305,305 | $ | 12,715 | $ | 318,020 | $ | 12,391 | $ | 4,181 | $ | 38,092 | $ | 372,684 |
• | Stock compensation expense of $1.7 million resulting from the acceleration of unvested stock options in accordance to terms of an employment contract for an employee. This expense is included as part of our restructuring charges and reflected in our consolidated statements of income as selling, general and administrative expense for the fiscal year ended April 2, 2011. |
• | $2.1 million of integration costs related to the Global Med acquisition. |
(In thousands) | Balance at March 31, 2012 | Cost Incurred | Payments | Asset Write down | Restructuring Accrual Balance at March 30, 2013 | ||||||||||||||
Employee-related costs | $ | 1,461 | $ | 6,214 | $ | (4,586 | ) | $ | — | $ | 3,089 | ||||||||
Facility related costs | 533 | 431 | (791 | ) | — | 173 | |||||||||||||
Asset write-down | — | 4,247 | — | (4,247 | ) | — | |||||||||||||
$ | 1,994 | $ | 10,892 | $ | (5,377 | ) | $ | (4,247 | ) | $ | 3,262 |
(In thousands) | Balance at April 2, 2011 | Cost Incurred | Payments | Asset Write down | Restructuring Accrual Balance at March 31, 2012 | ||||||||||||||
Employee-related costs | $ | 2,782 | $ | 4,112 | $ | (5,433 | ) | $ | — | $ | 1,461 | ||||||||
Facility related costs | 889 | 1,746 | (2,102 | ) | — | 533 | |||||||||||||
$ | 3,671 | $ | 5,858 | $ | (7,535 | ) | $ | — | $ | 1,994 |
(In thousands) | Balance at April 3, 2010 | Cost Incurred | Payments | Asset Write down | Restructuring Accrual Balance at April 2, 2011 | ||||||||||||||
Employee-related costs | $ | 9,761 | $ | 3,595 | $ | (10,574 | ) | $ | — | $ | 2,782 | ||||||||
Facility related costs | — | 889 | — | — | 889 | ||||||||||||||
$ | 9,761 | $ | 4,484 | $ | (10,574 | ) | $ | — | $ | 3,671 |
(In thousands) | Three months ended | ||||||||||||||
2013 | June 30, | September 29, | December 29, | March 30, | |||||||||||
Net revenues | $ | 176,475 | $ | 218,178 | $ | 247,395 | $ | 249,942 | |||||||
Gross profit | $ | 90,113 | $ | 101,762 | $ | 113,115 | $ | 123,141 | |||||||
Operating income | $ | 13,079 | $ | 9,901 | $ | 15,747 | $ | 17,710 | |||||||
Net income | $ | 9,787 | $ | 6,547 | $ | 9,904 | $ | 12,562 | |||||||
Per share data: | |||||||||||||||
Net Income: | |||||||||||||||
Basic | $ | 0.19 | $ | 0.13 | $ | 0.19 | $ | 0.24 | |||||||
Diluted | $ | 0.19 | $ | 0.13 | $ | 0.19 | $ | 0.24 | |||||||
Three months ended | |||||||||||||||
2012 | July 2, | October 1, | December 31, | March 31, | |||||||||||
Net revenues | $ | 170,569 | $ | 179,445 | $ | 191,160 | $ | 186,670 | |||||||
Gross profit | $ | 88,748 | $ | 89,949 | $ | 95,931 | $ | 94,612 | |||||||
Operating income | $ | 23,908 | $ | 18,566 | $ | 25,324 | $ | 20,960 | |||||||
Net income | $ | 16,947 | $ | 13,880 | $ | 18,254 | $ | 17,805 | |||||||
Per share data: | |||||||||||||||
Net Income: | |||||||||||||||
Basic | $ | 0.33 | $ | 0.27 | $ | 0.36 | $ | 0.35 | |||||||
Diluted | $ | 0.32 | $ | 0.27 | $ | 0.36 | $ | 0.35 |
(a) | (b) | (c) | ||||||||
Plan Category | Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights | Weighted Average Exercise Price of Outstanding Options, Warrants and Rights | Number of Securities Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)* | |||||||
Equity compensation plans approved by security holders | 4,426,177 | $ | 30.19 | 7,283,971 | ||||||
Equity compensation plans not approved by security holders | — | — | — | |||||||
Total | 4,426,177 | $ | 30.19 | 7,283,971 |
* | Includes 687,776 shares available for purchase under the Employee Stock Purchase Plan in future purchase periods. |
Financial Statements required by Item 8 of this Form | |
Schedules required by Article 12 of Regulation S-X | |
HAEMONETICS CORPORATION | ||
By: | /s/ Brian Concannon | |
Brian Concannon, | ||
President and Chief Executive Officer |
Signature | Title | Date | ||
/s/ Brian Concannon | President, Chief Executive Officer and Director | May 20, 2013 | ||
Brian Concannon | (Principal Executive Officer) | |||
/s/ Christopher Lindop | Chief Financial Officer and Executive Vice President Business Development | May 20, 2013 | ||
Christopher Lindop | (Principal Financial Officer) | |||
/s/ Susan Hanlon | Vice President Finance | May 20, 2013 | ||
Susan Hanlon | (Principal Accounting Officer) | |||
/s/ Lawrence Best | Director | May 20, 2013 | ||
Lawrence Best | ||||
/s/ Paul Black | Director | May 20, 2013 | ||
Paul Black | ||||
/s/ Susan Bartlett Foote | Director | May 20, 2013 | ||
Susan Bartlett Foote | ||||
/s/ Ronald Gelbman | Director | May 20, 2013 | ||
Ronald Gelbman | ||||
/s/ Pedro Granadillo | Director | May 20, 2013 | ||
Pedro Granadillo | ||||
/s/ Mark Kroll, Ph.D. | Director | May 20, 2013 | ||
Mark Kroll | ||||
/s/ Richard Meelia | Director | May 20, 2013 | ||
Richard Meelia | ||||
/s/ Ronald Merriman | Director | May 20, 2013 | ||
Ronald Merriman |
1. Articles of Organization | ||
3A* | Pro forma Amended and Restated Articles of Organization of the Company reflecting Articles of Amendment dated August 23, 1993 and August 21, 2006 (filed as Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q for the Quarter ended December 29, 2012 and incorporated herein by reference). | |
3B* | Articles of Amendment to the Articles of Organization of the Company filed August 21, 2006 with the Secretary of the Commonwealth of Massachusetts. | |
3C* | By-Laws of the Company, as amended through July 27, 2012 (filed as Exhibit 5.03 to the Company's Form 8-K filed August 2, 2012 and incorporated herein by reference). | |
2. Instruments defining the rights of security holders | ||
4A* | Specimen certificate for shares of common stock (filed as Exhibit 4B to the Company's Amendment No. 1 to Form S-1 No. 33-39490 and incorporated herein by reference). | |
3. Material Contracts | ||
10A* | Lease dated July 17, 1990 between the Buncher Company and the Company of property in Pittsburgh, Pennsylvania (filed as Exhibit 10K to the Company's Form S-1 No. 33-39490 and incorporated herein by reference). | |
10B* | First Amendment to lease dated July 17, 1990, made as of July 17, 1996 between Buncher Company and the Company of property in Pittsburgh, Pennsylvania (filed as Exhibit 10AI to the Company's Form 10-Q No. 1-10730 for the quarter ended December 28, 1996 and incorporated herein by reference). | |
10C* | Second Amendment to lease dated July 17, 1990, made as of October 18, 2000 between Buncher Company and the Company for the property in Pittsburgh, Pennsylvania (filed as Exhibit 10AG to the Company's Form 10-K No. 1-10730 for the year ended March 29, 2003 and incorporated herein by reference). | |
10D | Third Amendment to lease dated July 17, 1990, made as of March 23, 2004 between Buncher Company and the Company for the property in Pittsburgh, Pennsylvania (filed herewith as Exhibit 10D to the Company's Form 10-K No. 1-14041 for the year ended March 30, 2013). | |
10E | Fourth Amendment to lease dated July 17, 1990, made as of March 12, 2008 between Buncher Company and the Company for the property in Pittsburgh, Pennsylvania (filed herewith as Exhibit 10E to the Company's Form 10-K No. 1-14041 for the year ended March 30, 2013). | |
10F | Fifth Amendment to lease dated July 17, 1990, made as of October 1, 2008 between Buncher Company and the Company for the property in Pittsburgh, Pennsylvania (filed herewith as Exhibit 10F to the Company's Form 10-K No. 1-14041 for the year ended March 30, 2013). | |
10G | Sixth Amendment to lease dated July 17, 1990 made as of January 8, 2010 between Buncher Company and the Company for the property in Pittsburgh, Pennsylvania (filed herewith as Exhibit 10G to the Company's Form 10-K No. 1-14041 for the year ended March 30, 2013). | |
10H | Seventh Amendment to lease dated July 17, 1990, made as of March 31, 2011 between Buncher Company and the Company for the property in Pittsburgh, Pennsylvania (filed herewith as Exhibit 10H to the Company's Form 10-K No. 1-14041 for the year ended March 30, 2013). | |
10I | Eighth Amendment to lease dated July 17, 1990, made as of February 26, 2013 between Buncher Company and the Company for the property in Pittsburgh, Pennsylvania (filed herewith as Exhibit 10I to the Company's Form 10-K No. 1-14041 for the year ended March 30, 2013). | |
10J | Lease dated February 21, 2000 between BBVA Bancomer Servicios, S.A., as Trustee of the “Submetropoli de Tijuana” Trust and Haemonetics Mexico Manufacturing, S. de R.L. de C.V., as successor in interest to Ensatec, S.A. de C.V. with authorization of El Florido California, S.A. de C.V., for property located in Tijuana, Mexico (filed herewith as Exhibit 10J to the Company's Form 10-K No. 1-14041 for the year ended March 30, 2013). | |
10K | Amendment to Lease dated February 21, 2000 made as of July 25, 2008 between BBVA Bancomer Servicios, S.A., as Trustee of the “Submetropoli de Tijuana” Trust Haemonetics Mexico Manufacturing, S. de R.L. de C.V., as successor in interest to Ensatec, S.A. de C.V., for property located in Tijuana, Mexico (filed herewith as Exhibit 10K to the Company's Form 10-K No 1-14041 for the year ended March 30, 2013). |
10L | Extension to Lease dated February 21, 2000, made as of August 14, 2011 between PROCADEF 1, S.A.P.I. de C.V. and Haemonetics Mexico Manufacturing, S. de R.L. de C.V., as successor in interest to Ensatec, S.A. de C.V., for property located in Tijuana, Mexico (Spanish to English translation filed herewith as Exhibit 10L to the Company's Form 10-K No 1-14041 for the year ended March 30, 2013). | |
10M | Amendment Letter to Lease dated February 21, 2000, made as of August 14, 2011 between BBVA Bancomer Servicios, S.A., as Trustee of the “Submetropoli de Tijuana” Trust and Haemonetics Mexico Manufacturing, S. de R.L. de C.V., as successor in interest to Ensatec, S.A. de C.V., for property located in Tijuana, Mexico (filed herewith as Exhibit 10M to the Company's Form 10-K No 1-14041 for the year ended March 30, 2013). | |
10N | Notice of Assignment to Lease dated February 21, 2000, made as of February 23, 2012 between BBVA Bancomer Servicios, S.A., as Trustee of the “Submetropoli de Tijuana” Trust and Haemonetics Mexico Manufacturing, S. de R.L. de C.V., as successor in interest to Ensatec, S.A. de C.V. for property located in Tijuana, Mexico (Spanish to English translation filed herewith as Exhibit 10N to the Company's Form 10-K No 1-14041 for the year ended March 30, 2013). | |
10O* | Note and Mortgage dated December 12, 2000 between the Company and General Electric Capital Business Asset Funding Corporation relating to the Braintree facility (filed as Exhibit 10B to the Company's Form 10-Q No. 1-10730 for the quarter ended December 30, 2000 and incorporated herein by reference). | |
10P | Real Estate Lease Agreement dated November 2, 2002 between Haemonetics Produzione Italia S.r.l. as successor in interest to Pall Italia S.r.l and Tempera Infissi S.r.l for premises located in Ascoli, Italy (Italian to English translation filed herewith as Exhibit 10P to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10Q | Lease effective July 15, 2004 between Howard Commons Associates, LLC and Haemoscope Corporation for the property located in Niles, Illinois (filed herewith as Exhibit 10Q to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10R | First Amendment to Lease dated July 15, 2004, made as of June 10, 2004 between Howard Commons Associates, LLC and Haemoscope Corporation for the property located in Niles, Illinois (filed herewith as Exhibit 10R to the Company's10-K No.1-14041 for the year ended March 30, 2013). | |
10S | Second Amendment to Lease dated July 15, 2004, made as of June 5, 2007 between Cabot II - ILI W02-W03, LLC, predecessor-in interest to Howard Commons Associates, LLC and Haemoscope Corporation for the property located in Niles, Illinois (filed herewith as Exhibit 10S to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10T | Third Amendment to Lease dated July 15, 2004, made as of November 19, 2007 between Cabot II - ILI W02-W03, LLC, Haemoscope Corporation and Huron Acquisition Corporation, a wholly-owned subsidiary of the Company, as successor in interest to Haemoscope Corporation for the property located in Niles, Illinois (filed herewith as Exhibit 10T to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10U | Fourth Amendment to Lease dated July 15, 2004, made as of December 22, 2010 between Cabot II - ILI W02-W03, LLC, Haemoscope Corporation and the Company as assignee and New Tenant of the property located in Niles, Illinois (filed herewith as Exhibit 10U to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10V | Fifth Amendment to Lease dated July 15, 2004, made as of July 24, 2012 between Cabot II - ILI W02-W03, LLC and the Company of the property located in Niles, Illinois (filed herewith as Exhibit 10V to the Company's10-K No.1-14041 for the year ended March 30, 2013). | |
10W | Lease Agreement effective December 3, 2007 between Mrs. Blanca Estela Colunga Santelices, by her own right, and Pall Life Sciences Mexico, S.de R.L. de C.V., for the property located in Tijuana, Mexico (Spanish to English translation filed herewith as Exhibit 10W to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10X | Assignment to Lease Agreement effective December 3, 2007, made as of December 2, 2011 between Mrs. Blanca Estela Colunga Santelices, by her own right, Pall Life Sciences Mexico, S.de R.L. de C.V., (“Assignor”) and Haemonetics Mexico Manufacturing, S. de R.L. de C.V.as successor in interest to Pall Mexico Manufacturing S. de R.L. de C.V., (“Assignee”) assigned in favor of the property located in Tijuana, Mexico (filed herewith as Exhibit 10X to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10Y | Sublease Contract to Lease Agreement effective December 3, 2007, made as of December 3, 2011 between Haemonetics Mexico Manufacturing, S. de R.L. de C.V. as successor in interest to Pall Mexico Manufacturing, S.de R.L. de C.V., and Pall Life Sciences Mexico, S. de R.L. de C.V., for the property located in Tijuana, Mexico (filed herewith as Exhibit 10Y to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10Z | Sublease Contract to Lease Agreement effective December 3, 2007, made as of February 23, 2012 between Haemonetics Mexico Manufacturing, S. de R.L. de C.V. as successor in interest to Pall Mexico Manufacturing S. de R.L. de C.V. and Ensatec, S.A. de C.V., for the property located in Tijuana, Mexico (filed herewith as Exhibit 10Z to the Company's Form 10-K No.1-14041 for the year ended March 30, 2013). | |
10AA | Lease dated August 20, 2009 between Price Logistics Center Draper One, LLC and the Company for property located in Draper, Utah. (filed herewith as Exhibit 10AA to the Company's Form 10-K No. 1-14041 for the year ended March 30, 2013). |
10AB*† | Haemonetics Corporation 2000 Long-term Incentive Plan (filed as Exhibit 10A to the Company's Form 10-Q No. 1-10730 for the quarter ended December 30, 2000 and incorporated herein by reference). | |
10AC*† | Form of Option Agreement for Non-Qualified stock options for the 2000 Long Term-Incentive Plan for Employees (filed as Exhibit 10AJ to the Company's Form 10-K No. 1-10730 for the year ended March 29, 2003 and incorporated herein by reference). | |
10AD*† | Form of Option Agreements for Non-Qualified stock options for the 2000 Long- Term Incentive Plan for Non-Employee Directors (filed as Exhibit 10AK to the Company's Form 10-K No. 1-10730 for the year ended March 29, 2003). | |
10AE† | Pro Forma 2005 Long Term Incentive Compensation Plan, reflecting amendments dated July 31, 2008, July 29, 2009, July 21, 2011 and November 30, 2012 (filed herewith). | |
10AF*† | Form of Option Agreement for Non-Qualified stock options for the 2005 Long Term-Incentive Compensation Plan for Non-employee Directors (filed as Exhibit 10.1 to the Company's Form 10-Q No. 1-10730 for the quarter ended October 1, 2005). | |
10AG* | Form of Option Agreement for Non-Qualified stock options for the 2005 Long Term Incentive Compensation Plan for Employees. | |
10AH*† | Form of Option Agreement for Non-Qualified stock options for the 2005 Long Term-Incentive Compensation Plan for the Chief Executive Officer (filed as Exhibit 10.3 to the Company's Form 10-Q No. 1-10730 for the quarter ended October 1, 2005). | |
10AI* | Form of Restricted Stock Agreement with Employees under 2005 Long Term Incentive Compensation Plan. | |
10AJ*† | Form of Amended and Restated Change in Control Agreement made effective on April 2, 2009 between the Company and Brian Concannon (filed as Exhibit 10Y to the Company's Form 10-Q No. 1-10730 for the quarter ended June 27, 2009). | |
10AK† | Form of Amended and Restated Change in Control Agreement (filed herewith). | |
10AL*† | 2007 Employee Stock Purchase Plan (filed as Exhibit 10AS to the Company's Form 10-K No. 1-14041 for the year ended March 29, 2008 and incorporated herein by reference). | |
10AM† | Non-Qualified Deferred Compensation Plan made effective on July 27, 2012 (filed herewith). | |
10AN* | Asset Purchase Agreement, dated as of April 28, 2012, by and between Haemonetics Corporation and Pall Corporation (filed as Exhibit 10Z to the Company's Form 10-K No. 1-14041 for the fiscal year ended March 31, 2012). | |
21.1 | Subsidiaries of the Company. | |
23.1 | Consent of the Independent Registered Public Accounting Firm. | |
31.1 | Certification pursuant to Section 302 of Sarbanes-Oxley Act of 2002, of Brian Concannon, President and Chief Executive Officer of the Company. | |
31.2 | Certification pursuant to Section 302 of Sarbanes-Oxley of 2002, of Christopher Lindop, Executive Vice President and Chief Financial Officer of the Company. | |
32.1 | Certification Pursuant to 18 United States Code Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Brian Concannon, President and Chief Executive Officer of the Company | |
32.2 | Certification Pursuant to 18 United States Code Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of Christopher Lindop, Chief Financial Officer and Executive Vice President Business Development of the Company | |
101ˆ | The following materials from Haemonetics Corporation on Form 10-K for the year ended March 30, 2013, formatted in Extensive Business Reporting Language (XBRL): (i) Consolidated Statements of Income, (ii) Consolidated Statements of Comprehensive Income (iii) Consolidated Balance Sheets, (iv) Consolidated Statement of Stockholders' Equity and Other Comprehensive Income, (v) Consolidated Statements of Cash Flows, and (vi) Notes to Consolidated Financial Statements, tagged as blocks of text. |
* | Incorporated by reference | |
† | Agreement, plan, or arrangement related to the compensation of officers or directors | |
ˆ | In accordance with Rule 406T of Regulation S-T, the XBRL-related information in Exhibit 101 to this Form 10-K is deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act, is deemed not filed for purposes of section 18 of the Exchange Act, and otherwise is not subject to liability under these sections. |
(In thousands) | Balance at Beginning of Fiscal Year | Charged to Costs and Expenses | Write-Offs (Net of Recoveries) | Balance at End of Fiscal Year | |||||||||||
For Year Ended March 30, 2013 | |||||||||||||||
Allowance for Doubtful Accounts | $ | 1,480 | $ | 446 | $ | (199 | ) | $ | 1,727 | ||||||
For Year Ended March 31, 2012 | |||||||||||||||
Allowance for Doubtful Accounts | $ | 1,799 | $ | (39 | ) | $ | (280 | ) | $ | 1,480 | |||||
For Year Ended April 2, 2011 | |||||||||||||||
Allowance for Doubtful Accounts | $ | 2,554 | $ | 343 | $ | (1,098 | ) | $ | 1,799 |
SUBJECT | ARTICLE |
FUNDAMENTAL LEASE PROVISIONS | ARTICLE 1 |
PREMISES | ARTICLE 2 |
PURPOSE | ARTICLE 3 |
TERM | ARTICLE 4 |
POSSESSION | ARTICLE 5 |
RENT | ARTICLE 6 |
USE OF PREMISES | ARTICLE 7 |
ALTERATIONS | ARTICLE 8 |
MAINTENANCE AND REPAIRS | ARTICLE 9 |
RIGHTS RESERVED TO LANDLORD | ARTICLE 10 |
ABANDONMENT | ARTICLE 11 |
LIENS | ARTICLE 12 |
ASSIGNMENT AND SUBLETTING | ARTICLE 13 |
PARKING AND ACCESS PROPERTY | ARTICLE 14 |
INDEMNITY AND WAIVER | ARTICLE 15 |
INSURANCE | ARTICLE 16 |
UTILITIES; JANITORIAL SERVICE | ARTICLE 17 |
PERSONAL PROPERTY TAXES | ARTICLE 18 |
DEFAULT | ARTICLE 19 |
DESTRUCTION | ARTICLE 20 |
EMINENT DOMAIN | ARTICLE 21 |
MORTGAGE REQUIREMENTS | ARTICLE 22 |
RULES, REGULATIONS & RESTRICTIVE COVENANTS | ARTICLE 23 |
HOLDING OVER | ARTICLE 24 |
NOTICES | ARTICLE 25 |
LANDLORD’S RIGHT TO CURE DEFAULTS | ARTICLE 26 |
FORCE MAJEURE | ARTICLE 27 |
SECURITY DEPOSIT | ARTICLE 28 |
QUIET ENJOYMENT | ARTICLE 29 |
SIGNS | ARTICLE 30 |
SURRENDER OF LEASE | ARTICLE 31 |
ESTOPPEL CERTIFICATES AND FINANCING | ARTICLE 32 |
MISCELLANEOUS | ARTICLE 33 |
LANDLORD’S ACCEPTANCE | ARTICLE 34 |
LIMITATATION ON DAMAGES | ARTICLE 35 |
WAIVER OF DISTRAINT AND LIENS; TENANT FINANCING | ARTICLE 36 |
GOVERNMENTAL INCENTIVES | ARTICLE 37 |
PERMITTED CONTESTS | ARTICLE 38 |
CONSENT OF LANDLORD | ARTICLE 39 |
EXHIBITS: | |
EXHIBIT “A” - SITE PLAN - LEASED PREMISES | |
EXHIBIT “A-1” - SITE PLAN - OPTION TO PURCHASE | |
EXHIBIT “A-2” - SITE PLAN -COMMON AREA | |
EXHIBIT “B” – LANDLORD’S WORK AND TENANT’S WORK |
EHIBIT “B-1” - TENANT ALLOWANCE |
EXHIBIT “C”- RULES, REGULATIONS AND RESTRICTIVE COVENANTS |
EXHIBIT “D”- SIGN CRITERIA |
EXHIBIT “E”- CC&Rs |
1.1 Landlord’s Notice Address: | 230 East South Temple Salt Lake City, Utah 84111 |
With a copy to: David J. Castleton Blackburn & Stoll, LC 257 East 200 South, #800 Salt Lake City, Utah 84111 | |
1.2 Tenant’s Notice Address: | Haemonetics Corporation 400 Wood Road Braintree, Massachusetts 02184-9114 USA Attention: General Counsel |
With a copy to: Haemonetics Corporation 400 Wood Road Braintree, Massachusetts 02184-9114 USA Attention: Mark Shafranich. | |
1.3 Tenant’s Trade Name: HAEMONETICS CORPORATION. |
A. | Estimated Possession Date: Upon the Lease Commencement Date. |
1.5 | Basic Rent: |
Lease Months | Rent/ Sq. Ft./Month | Monthly Rent | Annual Rent |
1-12 | $0.3900 | $38,973.09 | $467,677.08 |
13-24 | $0.3998 | $39,952.41 | $479,428.96 |
25-36 | $0.4098 | $40,951.72 | $491,420.64 |
37-48 | $0.4200 | $41,971.02 | $503,652.24 |
49-60 | $0.4305 | $43,020.30 | $516,243.60 |
61-72 | $0.4413 | $44,099.55 | $529,194.60 |
73-84 | $0.4523 | $45,198.79 | $542,385.48 |
85-96 | $0.4636 | $46,328.01 | $555,936.12 |
97-108 | $0.4752 | $47,487.21 | $569,846.52 |
109-120 | $0.4871 | $48,676.39 | $584,116.68 |
1.6 | Use: Manufacturing, receiving, shipping, distribution and storing of blood management products and uses incidental thereto (including office uses), and for no other purpose, except as otherwise provided in this Lease. |
1.7 | Security Deposit: |
1.8 | Guarantors: None. |
ARTICLE 39. | CONSENT OF LENDER. This Lease is subject to the consent of Landlord’s lender. |
Dated this day of , 2008. | |
Address | |
SS# | |
Signature |
Landlord: |
PRICE LOGISTICS CENTER DRAPER ONE, LLC |
[SIGNATURE APPEARS HERE] |
J. Steven Price, Manager |
Tenant: |
HAEMONETICS CORPORATION |
Attest: | ||||
[SIGNATURE APPEARS HERE] | By: | [SIGNATURE APPEARS HERE] | ||
Its: | CFO |
MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. | |
By | |
Its |
[GRAPHICS APPEARS HERE] | Commercial Mortgage Servicing MAC A0357-030 P.O.Box 4036, Concord, CA 94524 1320 Willow Pass Road, Suite 300 Concord, CA 94520 800 986-9711 |
Lender: | Bank of America, National Association, as successor by merger to LaSalle Bank, National Association, as Trustee for the registered holders of Bear Steams Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, 2007-PWR16. |
A. | ESTIMATED COSTS; GENERAL REQUIREMENTS |
B. | DRAWINGS PLANS AND SPECIFICATIONS |
1. | Tenant Package. Landlord shall provide Tenant, a Tenant Package to better identify the Premises and provide details in describing conditions of the shell structure. This package may contain such items as: |
a. | Lease Plan showing Premises in relation to other tenant areas. |
b. | Dimensional floor plans or “record” drawings, if available. Tenant, however, may not rely on such plans or drawings and must verify physical dimensions and existing conditions in the Premises. |
c. | Tenant Design Criteria. |
2. | Tenant’s Submittal. After receipt of Tenant Package and prior to commencement of construction, Tenant agrees to submit to Landlord for Landlord’s approval, two (2) sets of 1/16” scale fully-dimensioned architectural, mechanical, electrical and structural drawings with one (1) set of reproducible (.PDF format) drawings prepared by Tenant’s architect and/or engineer, as may be applicable given the scope and nature of the contemplated work. Submittals are to be sent to the attention of the Landlord and shall indicate the specific requirements of the Premises, clearly outlining the proposed scope of work as described below. Each set and page of drawings shall be wet stamped, sealed and signed by Tenant’s architect and/or engineer. Mechanical and electrical plans shall set forth all electrical and mechanical requirements of Tenant, all in conformity with this Lease, all Exhibits thereto and the Tenant Design Criteria. Tenant’s architect and engineer shall be licensed in the state where the building Premises is located. |
3. | Submittal Specifications. Tenant’s submittal and drawings shall incorporate all applicable Landlord requirements and criteria as established by the Lease, Exhibits thereto, and including, but not limited to the following, if applicable to the contemplated work: |
a. | Architectural plans and sample board showing: |
i. | Demolition plans; |
ii. | Framing plans and details with sections through the storefront; |
iii. | Separate sign drawings in accordance with Exhibit “C” of this Lease; |
iv. | Floor plan showing flooring material and interior partitions; |
v. | Reflected ceiling plan; |
vi. | Material and sample board of all interior finish materials and colors; |
b. | Plumbing plans showing: |
c. | Electrical plans, calculations and schedules showing: |
d. | Mechanical plans showing: |
i. | Location of all roof penetrations with sections for curb installation and structural support details; |
viii. | Removal of: all abandoned equipment serving the Premises or located in or directly above the Premises, including conduits, pipes, wiring, curbs, etc. and the repairing of the affected area to original like new condition. |
e. | Structural plans, engineer’s calculations. |
i. | Calculations for all Tenant necessitated loading and modifications to the building structure. |
f. | Fire protection plans, calculations and design. |
4. | Landlord approval. Landlord or its architect and/or engineer shall review Tenant’s plans and specifications for compliance with the provisions contained within the Lease and Exhibits thereto, the Tenant Package, and Tenant Design Criteria. Such drawings will be returned to Tenant marked either “Approved”, “Approved as Noted”, “Approved as Noted-Resubmit”, or “Disapproved-Resubmit” within thirty (30) five (5) business days after receipt by Landlord. Tenant will have fifteen (15) days to revise and resubmit for Landlord approval. Tenant must comply with the Landlord notes and comments on any drawings and re-submit for Landlord’s approval. Should Landlord’s architect/engineer be required to review Tenant’s plans and specifications as a result of Tenant’s proposed structural modifications or changes, Tenant shall be responsible for the reasonable expense and costs for Landlord’s architect or engineers services. The review and approval of Tenant’s plans, specifications or calculations by Landlord or its agents or representatives shall not constitute an implication, representation or certification by Landlord that said improvements are in compliance with any statutes, codes, ordinances and other regulations. |
5. | Changes. Any subsequent material changes, modifications or alterations to Landlord’s Work or to Tenant’s drawings which are proposed by Tenant or which are requested or made by Tenant, shall be reviewed by Landlord or its architect or engineer, and any additional reasonable charges, expenses or costs so incurred shall be at the sole cost and expense of Tenant. Landlord shall have the right to demand payment for any such approved changes, modifications or alterations to Landlord’s Work prior to Tenant’s performance of work in the Premises. No changes, modifications or alterations to Landlord’s Work or to Tenant’s previous approved drawings shall be made without the written consent of Landlord, not to be unreasonably withheld, conditioned or delayed. Tenant shall provide Landlord with copies of any change orders in excess of Five Thousand Dollars ($5,000.00) prior to the work set forth in such change order being commenced. |
6. | Drawings Kept On-Site. Tenant shall ensure that it’s contractor performs work in strict accordance with, and retains on-site at all times during the course of |
7. | Compliance Responsibility. Tenant shall have the sole responsibility for compliance with all applicable statutes, codes, ordinances and other governmental regulations for all work performed by or on behalf of Tenant. Tenant shall be responsible for any Tenant required structural modifications to the existing building structure resulting from work performed by or on behalf of Tenant. Landlord or Landlord’s agents’ agents’ or representatives’ approval of plans, specifications, calculations or of Tenant’s Work shall not constitute an implication, representation or certification by Landlord that said improvements are in compliance with any statues, codes, ordinances and other regulations. In instances where several different standards are applicable, the standard of Landlord’s insurance underwriter, the strictest standard shall apply unless prohibited by applicable Codes. |
8. | Permits. In accordance with the Landlord’s agreement with the local building department, Tenant, within fifteen (15) days after receiving Landlord’s approval of submitted drawings, shall submit one extra set of the required number of copies to the local building department for permit. The Building Department shall review the plans and issue two approved sets to the Tenant. One of these sets shall be given to the Landlord’s representative when the Tenant’s contractor checks in with the Landlord and attends the required pre-construction meeting in accordance with Section II Paragraph K of this Exhibit “B”. |
9. | As-built Drawing. After completion of any material build out or modifications to Premises, Tenant will supply Landlord, within thirty (30) days of completion of construction, one (1) full size set of reproducible (.PDF format) “as-built” architectural, mechanical, and structural (if modified) drawings, if such drawings were required in order to obtain permits and approvals. |
C. | INTERIOR FINISHES |
a. | Floor. The Landlord has provided a finished concrete floor slab. Any cutting and patching of this level slab requires written approval by Landlord before work by Tenant can be initiated. Any damage done to existing under-slab utilities caused by Tenant or occurring during Tenant’s occupancy of the Premises shall be repaired by Tenant at Tenant’s sole cost and expense. The concrete slab shall be patched back in accordance with the Tenant Design Criteria and as set forth in the following criteria. |
i. | Compact backfill and sub-grade work to 95% ASTM D-1557 modified procter at optimum moisture. Tenant to supply soils compaction reports from an approved testing company if requested by Landlord. |
ii. | Verify quantity of granular fill. Provide additional fill as required to bottom of slab. Granular fill to be ¾” to 1” minus gap graded gravel. |
iii. | Replace concrete in trench excavation with 6.5” thick slab on granular fill with #4 rebar doweled to existing slab 12” on center. |
b. | Materials. Commercial grade 26 oz. glue down level loop nylon carpet with a minimum density of 6000 with at least 26 oz. weight and/or other quality floor materials, such as glazed or unglazed paver tile or wood parquet shall be used in Tenant’s office areas. Raw concrete or vinyl products shall not be used in the Tenant’s office areas without prior written approval of Landlord. Commercial grade sheet vinyl in all restrooms. |
c. | Expansion Joint. Expansion joints are installed as a necessary function of the building structure. In the unlikely event that such expansion joint occurs within the Premises, such expansion joint shall be clearly identified on Tenant’s submitted plans. Tenant shall be responsible to install finish materials adjacent to these joints in a top quality workmanlike manner. Landlord will not accept responsibility for finish materials installed near and/or over the expansion joints. |
d. | All penetrations through the floor slab shall be properly sealed and made water tight to prevent liquids and/or odors from leaking through the slab. Tenant shall install a trowel down water proofing membrane system if a mezzanine is installed or existing in the premise over the entire floor area of restrooms, areas containing sinks, food and beverage preparation equipment, service areas and over other similar areas as designated by Landlord. |
2. | Storefront Work |
a. | Plans. All storefront signage and plans shall be in conformance with Exhibit “D” (Signage Criteria) and be first approved by Landlord, which approval shall not be unreasonably withheld. |
3. | Ceiling |
a. | Elevation. Tenant is made aware that ceiling height limitations are created by “as-built” conditions and floor-to-floor heights vary throughout the building. Any relocation of or modification to existing piping, sprinkler systems, gas fired unit heaters, conduit and/or ductwork necessitated by Tenant’s installation of a ceiling shall be at the expense of Tenant. |
b. | Expansion Joint. Should an expansion joint occur in the Premises, Tenant is responsible for the construction of the floors, walls and ceilings affected by such joint in a manner consistent with prevailing construction and design practices and Landlord’s written approval. |
c. | Access Panels. Access panels and/or catwalks above the ceilings required to serve Tenant’s or Landlord’s equipment shall be installed by Tenant at its sole cost and expense. |
d. | Materials. All ceiling material must be non-combustible equal to Class “A” installation. Ceiling material finishes are subject to written approval by Landlord. (Refer to Tenant Design Criteria). |
1. | Office area to receive a standard 2’-0 × 4’-0 metal ceiling grid system with regressed spline tiles in 2’-0 × 2’-0 pattern, |
e. | Bracing. Tenant at its sole cost and expense may be required to install additional bracing predicated by the type of ceiling system approved. |
4. | Perimeter Work |
a. | Service Doors. If not existing, Tenant shall provide service doors and hardware including existing control devices serving the Premises as required by local building codes and Landlord requirements. The primary purpose of the service door is that of an exit, and must swing at least 90 degrees in the direction of travel without causing an obstruction and be equipped with necessary code required hardware. If required by applicable code, Tenant shall furnish and install a minimum 3’-0” × 7’-0” × 1 ¾” warehouse to office area hollow metal service door and welded SDI grade III frame, connecting office to warehouse area or the exterior of the premises as required by code. Tenant is required to provide for the |
b. | Finishes. When Tenant’s Work joins or meets other existing work, Tenant shall be responsible to repair and replace to like new condition, any existing work disturbed by Tenant. |
c. | Demising Partitions. All demising partitions shall be constructed with a one-hour fire rating as a minimum. A two-hour rating may be required in some cases. Tenant shall furnish and install a full height wall with 6” 20 gauge metal studs and track, on 16” center with 5/8” (Type X) fire rated gypsum board, taped, and to the roof deck above (minus roof deflection), on it’s (the Tenant’s) side of all demising walls. |
d. | Insulation. Tenant is required to install sound insulation in the demising walls separating tenant spaces, the demise wall separating the office area from the warehouse area, and all bathroom walls. If not already existing, Tenant shall insulate all perimeter-demising walls of the Premises according to Local Building Codes and Landlord requirements. |
e. | Equipment Screens. If Tenant is allowed by Landlord to install any equipment located at or near the exterior of the Premises as provided in the Lease, and such equipment is visible, if required by applicable law or the CC&Rs, Landlord or Tenant shall erect screening to shield the equipment from public view at Tenant’s sole cost and expense. All rooftop HVAC equipment, pipes, vents, etc. will be located a minimum of 18’ back from parapet wall. |
D. | FIXTURES AND FURNISHINGS |
E. | UTILITIES |
1. | Plumbing |
a. | System. Tenant shall provide a complete plumbing system, including fixtures and toilet accessories, minimum one (1) floor drain in each toilet room and in each kitchen with accessible clean-outs. All plumbing work must be installed according to all local, state and national codes, including the Americans with Disabilities Act and Landlord requirements. |
b. | Insulation. Tenant shall insulate all domestic water runs and condensate lines serving the Premises downstream of Landlord’s valve. |
c. | Water Closet. Water closets shall be water conservative tank type or flush valve type. Tenants are encouraged to locate toilets in areas where sewer stubs are provided. Tenant shall excavate and complete plumbing connections, backfill, compact and place concrete floor as required under Section II paragraph C of this Exhibit B. If Tenant’s design does not coincide with the location of existing sewer lines, then Tenant shall saw cut existing slab according to accepted |
d. | Water. Water service and distribution exists at the Building. If Tenant requires larger service and/or additional distribution within the Building, if not already existing, large water consumers, in the reasonable judgment of Landlord, shall furnish and install a water meter conforming to the local water utility company. If a larger meter is required, it shall be installed by Tenant, at Tenant’s expense. |
e. | Grease Interceptor. Food service Tenants shall connect food waste lines to a grease interceptor system designed, furnished, installed and paid for by Tenant in accordance with all local requirements. |
f. | Oil - Water Separator - Tenants with uncommon or heavy effluent discharge shall install and pay for, at their sole cost and expense, the necessary and required systems, including design, permits and monitoring charges, in accordance with all Landlord and municipal requirements. |
a. | Current Condition. Upon the Possession Date the Premises shall contain 2,000 amps of 277/480 volts main electrical gear, consisting of meter base and CT cabinet located exterior of the Building, 2,000 amp main breaker and associated distribution and branch panels currently feeding the Premises, located interior of the Building. In order to feed the Premises with a full 2,000 amps of 277/480 volts, the transformer and associated equipment may need to be upgraded by Rocky Mountain Power. In the event there are costs associated with upgrading the power to the Premises, at Tenant’s option, Tenant may either pay these costs directly to Rocky Mountain Power or deduct such costs from the Tenant Allowance. |
b. | Conduit and Equipment. Tenant shall pull copper conductors in conduit and make final connections at the electrical distribution panel. Conductors shall be continuous with no splices between the switch gear at the distribution area and panels within the Premises. Tenant will furnish all necessary labor, and related electrical equipment to provide a complete approved electrical system serving the Premises. This shall include, panels, transformers circuit breakers, connection to HVAC power supply, temperature controls, connection to necessary smoke detector or smoke evacuation system if required. |
c. | Design Load. Tenant’s total connected load shall be limited to the maximum allowable load as allowed to the Tenant space and per the local or state energy code plus a reasonable amount of miscellaneous equipment load. Tenant shall provide Landlord with proof of electrical inspection prior to Tenant’s occupancy. |
d. | Electrical Construction |
i. | Location of the electrical equipment: distribution panels, transformers, panel board, breaker panel, etc, shall be located on the rear/back wall of Premises and not along or on, demise wall wherever possible but subpanels will be allowed within or adjacent to manufacturing and/or clean room areas subject to the Landlord’s reasonable approval. |
ii. | Material. All electrical materials shall be new and as a minimum, shall be to International Electrical Code standard and shall bear the Underwriter’s Laboratories (U.L.) label. |
iii. | Time Switches. Time clocks shall be provided by Tenant to control signs in accordance with the Lease and shall be mounted next to the electrical panel. |
iv. | Lighting Fixtures. Recessed fixtures shall be connected by means of flexible conduit and “AF” wire run to a branch circuit outlet box, which is independent of the fixture. |
v. | Nameplates. The following equipment shall be identified with engraved Bakelite name plates: Distribution panels, motor starters, lighting panels disconnects, switchgear and push-button stations. |
vi. | Water Heaters. Electrical water heaters, if needed, shall be provided by Tenant for its domestic hot water requirements. All units shall have a water collection pan with drain and shall be U.L. approved. Heaters will have pressure relief piped to nearest drain in the Premises in accordance with applicable building codes. |
vii. | Fluorescent Fixtures. All fluorescent fixtures shall have internal protection devices and conform to Tenant’s requirements for clean room and other construction. Prismatic or acrylic lenses will be allowed in the Tenant’s office area without Landlord written approval. Fluorescent strip task lighting will be allowed within the clean room spaces. T5 fluorescent and metal halide high bay fixtures will be allowed in the warehouse. Fluorescent ballasts shall be high power factor type with individual non-resetting overload protection. |
xi. | Transformers. All necessary transformers shall be furnished and installed by Tenant and shall be dry type and floor mounted unless otherwise approved by Landlord in writing. |
xi. | Meter. If required, Tenant shall be responsible for contracting directly with the local Water/Power Utility providers for installation of service and meter as required. |
1. | Standards |
a. | Heating equipment shall be capable of maintaining the office area with an inside dry bulb temperature of 70 degrees Fahrenheit with an outside temperature of 3 degrees Fahrenheit. |
b. | The cooling system shall be capable of maintaining the office area with an inside temperature of 72 degrees Fahrenheit with an outside condition of 105 degrees Fahrenheit by bulb and 70 degrees Fahrenheit wet bulb. |
c. | The HVAC will be sized to provide one (1) ton of cooling per 300 square feet of office area and will have an economizer on each roof top unit. |
d. | SMOKE EVACUATION: At Tenant’s sole cost and expense, the design of Tenant’s HVAC system shall incorporate all code-required smoke control/exhausts as required by the governing authorities. All costs for construction, installation, and connection shall be at Tenant’s sole cost and expense. |
a. | Tenant shall design and install its own HVAC system, unless designed and installed by Landlord, and paid for by Tenant. All HVAC work required by Tenant in addition to that, if any, which may have been provided by Landlord pursuant to this Exhibit B, shall be approved by Landlord, and designed and installed by Tenant at Tenant’s expense. This work shall include without limitation, additional gas fired unit heaters, and/or HVAC, connection to supply and return lines, duct work, and any controls or circuitry required for the operations of said air-conditioning systems per the Tenant Design Criteria. Tenant shall provide all necessary structural modifications to the existing Building structure including, but not limited to, structural engineering plans, calculations, etc., prepared and stamped by a structural engineer licensed in the state the Building is located, for the installation of all rooftop equipment and Building systems. |
b. | A one-year unit warranty with a five-year compressor and ten-year heat exchanger guarantee shall be provided to Landlord. |
c. | At Landlord’s option, Tenant or Landlord, at Tenant’s expense, shall supply and install roof supports for roof mounted equipment units as well as any roofing, additional curbs, counter-flashing, roof repairs, etc,. as required. Roofing work shall be performed by Landlord’s approved roofing contractor. |
d. | Tenant shall install a 110 volt 20amp GFI circuit with weather proof cover at its roof top HVAC unit, provided same is required by code. |
e. | Tenant shall provide, when required by applicable code, condensate piping from fan-coil into the sanitary sewer or roof drainage system and in accordance with the Landlord requirements and local code requirements. |
a. | Duct Work. Tenant shall provide at its expense all duct work and accessories for air distribution. All duct work shall be designed and installed in accordance with the procedures described in the ASHRAE Guide and in accordance with the latest methods recommended in the Sheet Metal and Air Conditioning Contractor’s National Associations (SMACNA) Low Velocity Duct Manual, latest edition. |
b. | Diffusers. Ceiling diffusers shall be white and similar in quality to the Tuttle |
c. | Ceiling Access Panels. Tenant shall provide 24” x 24” access panels in the ceiling as required to provide access to equipment, dampers, etc. |
d. | Balance. Tenant shall have the HVAC system balanced by an independent balancing contractor and submit balance reports of Landlord. |
e. | Duct Shafts. Fire rated duct shafts shall be supported from the floor of the building structure. |
4. | Automatic Temperature Control System. Tenant shall furnish and install thermostat(s) which control the temperature in the Premises during operating hours. It is the Tenant’s responsibility to operate the system properly at all times. Odor producing tenants must maintain a negative air pressure to ensure odors do not disturb other Tenants in the building (see Special Exhaust Systems, Section II Paragraph F-6). |
5. | Toilet Exhaust Systems. Toilet exhaust fan must be connected and controlled by the toilet room light switch and shall be vented above roof. Tenant shall be responsible for installing and maintaining all exhaust ducts serving the Premises. |
6. | Special Exhaust Systems |
a. | As determined by Tenant’s design criteria special exhaust systems may be require at certain equipment and lab hoods. Odors from kitchens, dining rooms, cafeterias, warehouse equipment or areas, must be exhausted to the atmosphere through a Tenant-furnished and installed exhaust system as directed by Landlord and as set forth in the Lease, Exhibits and the Tenant Design Criteria. |
b. | Maximum exhaust air levels shall be based on applicable codes and special Tenant requirements. Grease fans shall be provided with a drainage area at the bottom of the unit complete with a residue trough equipped to be cleaned quarterly. The location of the exhaust fan shall be not less than 15’-0” from any air in-takes so as to avoid contaminating air supplied to the Building. |
c. | Tenant shall install, at its sole cost and expense, on all roof-mounted grease producing equipment, a grease containment system manufactured by Facilitec®. No substitutions will be allowed. The Tenant must contact Facilitec® at 180 Corporate Drive, Elgin, IL 60123; phone: (800)284-8273; fax: (847)931-9629. |
7. | Discharge Dampers. Exhaust fan discharge dampers shall be parallel blade, white in color, neoprene lined edge, reasonably air-tight when closed, located close to outdoor outlet with damper control operator to keep same closed when fan is off and open as required when fan is on. |
8. | Rooftop Equipment. Exhaust discharge outlets and relief air outlets shall be roof mushroom type with roof locations and projections above roof approved by Landlord and to comply with governing codes. Projection above 3’0” require special approval. (See Section II Paragraph F(6) above for special requirements for odor handling exhaust units). All equipment, pipes, etc. to be set back a minimum of 18’ from parapet wall. If required by applicable code, Tenant shall provide additional screening of rooftop equipment at Tenant’s expense. All rooftop mounted HVAC equipment shall be installed and mounted a minimum of 18’ from parapet wall. |
9. | Damper Controls and Interlock. The necessary damper controls and interlock to maintain the original design air balance shall be provided by Tenant at Tenant’s expense and approved by Landlord. Exhaust and make up air equipment controls must be interlocked to ensure simultaneous operation. |
10. | Food Preparation System (if installed in the future) |
a. | Equipment and systems for food preparation areas shall be installed in accordance with the National Fire Protection Association Standard, latest edition. |
b. | The fire extinguishing systems shall be Underwriters’ Laboratory approved CO2 or dry chemical pre-engineered system as required by the local governing authority with the following features as a minimum: |
i. | Protection of the hood and dust; |
ii. | Surface Protection for deep fat fryer, griddle, broiler and range; |
iii. | Automatic devices for shut down of fuel or power to the appliances with surface protection. It should be noted that these devices must be of the manual reset type and not automatic reset. |
iv. | A readily accessible means to manually actuate the fire extinguishing equipment shall be provided in the exit path and shall be clearly identified. Actuation shall be mechanical. |
10. | Contractor Qualifications. The installation of all HVAC equipment and systems shall be made only by persons properly trained and qualified by the manufacturer of the equipment or system to be installed. |
12. | Maintenance. Tenant shall contract directly with a Landlord approved HVAC company to provide any replacement and regular quarterly maintenance for the air-conditioning system. |
I. | SIGNS |
1. | Commencement of construction. Landlord shall notify Tenant of the time when Tenant can commence Tenant’s Work and Tenant agrees to commence such work forthwith and thereafter diligently prosecute such work to completion. |
a. | The Lease agreement is fully executed or the Tenant has delivered to Landlord a signed letter of indemnity on Landlord’s form. |
b. | Tenant has obtained Landlord approved plans. |
c. | Tenant has obtained all necessary permits from the Landlord approved plans and provided evidence to Landlord that all required building permits, connection fees, impact fees and other permits in connection with Tenant’s construction have been obtained and paid for by Tenant. |
d. | Tenant’s contractor has attended a pre-construction meeting with Landlord’s representative. |
e. | Tenant or Tenant’s contractor has provided to Landlord a certificate of insurance as required in Exhibit “B” Section II Paragraph L of this Lease Agreement. |
f. | Tenant or Tenant’s contractor submits to Landlord payment of the required construction security deposits and fees. |
g. | Tenant submits to Landlord the names, addresses and phone numbers of the general contractor and all subcontractors, material suppliers, fixture suppliers and installers engaged in the construction of Tenant’s work. |
h. | Tenant provides to Landlord a copy of each and every contract with any and all contractors, suppliers (if typically available), and providers (if typically available) and written acknowledgements in the form attached hereto as Form 1 from the general contractor, and from each subcontractor and material supplier providing in excess of Two Thousand Dollars ($2,000.00) in work or materials to the Premises, that such entity is not entitled to and will not assert a mechanic’s lien or any other interest in the Landlord’s fee interest in the Building/Park, and that such entity shall look solely to Tenant and Tenant’s interest in the Premises under this Lease for payment. |
i. | Tenant or Tenant’s contractor provides to Landlord a copy of the contractor’s license for the state in which the Building is located. |
j. | Tenant or Tenant’s contractor provides to Landlord a construction schedule showing anticipated beginning and completion dates of each phase of Tenant’s construction, including fixturing and stocking. |
1. | Coverages. Tenant shall not permit its contractor(s) to commence any work until all required insurance has been obtained and certified copies of policies or certificates naming Tenant’s general contractor as the primary insured and naming Landlord as additional insured have been delivered to Landlord. Tenant shall secure, pay for and maintain or cause its contractor(s) to secure, pay for and maintain during the continuance of construction and fixturing work within the Premises the following insurance in the following amounts: |
a. | Worker’s compensation insurance with limits in accordance with the statutory requirements of the state in which the work is being performed and employer’s liability insurance with limits of at least $500,000.00 per person, $500,000.00 per accident and $500,000.00 for occupational diseases (including “stop gap” and “all states” endorsements). |
b. | Comprehensive commercial general liability insurance including contractor’s protective liability coverage, contractual liability coverage, explosion and collapse coverage, underground hazard coverage, and completed operations coverage insuring against bodily and personal injury and property damage in the combined single limit amount of not less than $1,000,000, $2,000,000 aggregate. |
c. | Comprehensive automobile liability insurance with a non-owned and hired liability endorsement covering bodily injury and property damage in the combined single limit amount of not less than $1,000,000, $2,000,000 aggregate. |
d. | Builders’ Risk Completed Value Form affording “all risks of physical loss or damage” on its work in the Premises as it relates to the building in which the Premises are located, naming the interests of Landlord, Tenant’s general contractor and all subcontractors as their respective interests may appear, within a radius of 100 feet of the Premises. |
e. | Tenant agrees to indemnify, defend, and hold harmless Landlord, Landlord’s affiliates and its trustees, beneficiaries, partners, officers, agents and employees from and against all claims, liabilities, losses, damages, and expenses of whatever nature including those to the person and property of Tenant, its employees, agents, invitiees, licensees, and others arising out of or in conjunction with the performance of Tenant’s Work except to the extent same may arise out of Landlord’s or its trustees’, beneficiaries’, partners’, officers’, agents’ or employees’ direct negligence, it being understood and agreed that the foregoing indemnity shall be in addition to the insurance requirements set forth above and shall not be in discharge of or in the substitution for same. All such policies shall be appropriately endorsed to name as additional insureds, Landlord and any other party so indicated by Landlord, for itself and other lenders as insured parties and to provide that Landlord shall be given thirty (30) days prior written notice of any alteration or termination of coverage. |
2. | Compliance. The above-described insurance shall comply in all respects with the provisions contained in the Lease. Such insurance shall cover injury to persons and damage to property arising out of the construction activities and operations of Tenant, the Tenant’s General Contractor, the prime subcontractors or their respective subcontractors and material men or the employees of any of them. |
3. | Scope. Such liability insurance shall insure the Tenant’s General Contractor and/or subcontractors against any and all claims for bodily injury, including death resulting therefrom and damage to the property of others arising from its operations under the contract, whether such operations are performed by the general contractor, subcontractors, or any of their respective subcontractors or by anyone directly or indirectly employed by any of them. |
1. | Contractor Requirements. All contractors engaged by Tenant shall be bondable, licensed in the state where the Building is located, having good labor relations, capable of performing quality workmanship and working in harmony with other contractors and subcontractors on the job. Tenant’s Work shall be coordinated with Landlord’s general construction work, if any. |
2. | Evidence of Payment Capability. If required by Landlord, Tenant shall furnish Landlord satisfactory evidence that it has funds or financing to cover its anticipated construction obligations before commencing, or from time to time thereafter before proceeding further, with such construction. |
3. | Intentionally Omitted. |
4. | Inspection. During the course of construction, Tenant’s Work shall be subject to inspection by Landlord. Tenant shall require its general contractor to cooperate with Landlord and to correct any deficiency noted by Landlord during construction. Prior to the installation of any ceiling or concrete floor-slab work in the Premises, Tenant’s contractor shall contact Landlord’s representative to arrange for an inspection of all work in the Premises. The Premises shall be inspected by Landlord for the purpose of determining the quality of the workmanship and adherence to Landlord approved drawings and the provisions of this Exhibit “B”. Landlord shall notify Tenant in writing of any unacceptable items and Tenant shall have thirty (30) days to complete such items. Landlord or Landlord’s agent shall, upon written notification to Tenant, complete any item still outstanding at the end of the thirty (30) day period. |
5. | Warranties. Upon completion of Tenant’s Work, warranties (one [1] year minimum) on all work and equipment shall be assigned to Landlord by Tenant. |
6. | Work Rules. Tenant or Tenant’s general contractor, shall not commence any work without checking in with Landlord’s representative and satisfying all requirements of Section II, paragraph K, of this Exhibit “B”. All work performed by Tenant during the term of the Lease shall be performed in accordance with this Lease Agreement, all Exhibits thereto, the Tenant Design Criteria and as directed by Landlord’s representative and shall be performed so as not to cause interference with other tenants and the operation of the Building/Park. Tenant will take all precautionary steps to protect its facilities and the facilities of others affected by Tenant’s Work. Construction equipment and materials are to be located in confined areas and truck traffic is to be routed in and from the site as directed by Landlord. Tenant shall require its General Contractor and all Subcontractors to comply with Landlord’s Construction Job Rules which shall be issued to Tenant’s General Contractor at the time of the per-construction meeting as described in Section II K. |
7. | State Sales Tax. Contractor must provide evidence of payment of all applicable state Sales Tax at the completion of the project. |
8. | Waste Storage. Tenants must store and contain all bi-products and waste within Tenant’s premises (to include grease, oils and all other potentially hazardous materials). No waste may accumulate for longer than a 24 hour period and must be legally disposed. |
N. | TENANT CLOSE-OUT AND PROJECT COMPLETION |
1. | Letter of Acceptance. Upon the completion of Tenant’s construction, fixturing, and satisfaction of the conditions set forth below, Landlord shall inspect the Premises, and if such Premises are acceptable, Landlord shall issue a Letter of Acceptance to Tenant. Tenant’s Work shall not be deemed to be in compliance with the terms of this Lease or Exhibits thereto until such Letter of Acceptance has been issued by Landlord to Tenant. The issuance of such a Letter of Acceptance shall be contingent upon all of the following: |
a. | Tenant shall have satisfactorily completed the work to be performed by Tenant as required in this Lease Agreement and Exhibits thereto in accordance with the working drawings and specifications thereof, and as approved by Landlord. |
b. | Tenant shall have furnished Landlord with final unconditional waivers of lien and contractor’s affidavits, substantially in the form attached hereto, from all parties performing labor or supplying equipment and/or materials in connection with Tenant’s Work, including Tenant’s architect. Such waivers and affidavits shall establish that all of said parties have been compensated in full, shall be in the form of sworn statements and “long form” affidavits, and shall establish that payment has been made for all labor and materials, all equipment and fixtures, all architectural and engineering fees and all other contractor services, and shall certify that all work has been performed in accordance with Landlord-approved plans and specifications. In addition, Tenant shall have furnished a Tenant affidavit substantially in the form of Form C attached hereto stating that Tenant has paid for all work performed and for all fixtures, equipment and materials supplied on its behalf. (See Section III for close out forms). |
c. | Tenant shall submit to Landlord a cost breakdown attached hereto in the form of Form D, stating Tenant’s final and total construction costs, together with receipted invoices showing payment thereof, evidence of payment of any state Sales Tax, or such evidence of payment as is satisfactory to Landlord (see Section III). |
d. | Tenant shall secure and deliver to Landlord a copy of a Certificate of Occupancy property issued by the governmental entity having jurisdiction. |
e. | Tenant shall deliver to Landlord one (1) set of “as-built” construction drawings of the Premises. |
f. | Tenant shall have reimbursed Landlord for the work and related items performed by Landlord within and for the Premises in accordance with the Lease, and this Exhibit B. |
g. | Tenant shall furnish Landlord with an HVAC air balance report performed by an independent air-balancing contractor. |
h. | Tenant shall have completed all Landlord required punch-list items as Landlord shall detail as part of Form E. |
i. | Tenant shall have requested in writing to Landlord that a Letter of Acceptance be issued to Tenant. |
O. | FAILURE TO PAY SUMS DUE LANDLORD |
1. | Remedies. Should Tenant fail to timely pay the sums which are due Landlord, or should Tenant fail to pay Landlord or any of Landlord’s affiliates for any work performed by Landlord or such affiliate on Tenant’s behalf under this Exhibit, or as a contractor or subcontractor for Tenant, or otherwise, such failure shall constitute a breach of this Lease, subject to the applicable notice and cure periods and entitle Landlord to exercise any or all available remedies contained in the Lease. |
2. | Interest. All sums which are required to be paid hereunder and which are not paid when due shall bear interest as and to the extent described in the Lease. |
P. | GENERAL REQUIREMENTS |
1. | Intentionally Omitted. |
2. | Intentionally Omitted. |
3. | OSHA. Tenant shall comply with all current provisions of the Occupational Safety and Health Act (OSHA), that may apply to Tenant’s operations. |
4. | Environment. Tenant shall comply with the latest Environmental Protection Agency (EPA) requirements covering Tenant’s operations from the Premises. In addition, Tenant shall comply with all other existing or future City, County, State or Federal regulations or legislation regarding environmental hazards as such applies to Tenant’s operations. |
5. | Intentionally Omitted. |
6. | Exterior Conduit. Tenant shall not install conduit, pipes, wires or other lines of any type on any exterior portion of the Building/Park without Landlord written approval or as shown on the approved Tenant’s construction documents. |
7. | Trash Removal. Landlord does not provide and is not responsible for Tenant’s construction or move-in trash removal. It is Tenant’s responsibility to contain and remove all construction debris, packaging and move-in debris from its Premises prior to opening. Unless other arrangements are approved in advance by Landlord, Tenant or Tenant’s contractor shall provide an open-top dumpster for the containment of Tenant’s construction and move in debris. Tenant is not to use the Building/Park dumpsters or trash receptacles at any time during its construction. Trash removal for Tenant’s construction shall be approved by and coordinated through the Landlord’s representative with all costs being Tenant’s responsibility. Trash accumulation will not be permitted overnight in the Premises, Common Area or truck dock areas. Tenant shall not allow excessive trash to accumulate within the Premises or allow any trash to accumulate in the Common Areas. The Premises and adjacent Common Areas must be “broom clean” at the end of each construction shift. Tenant shall pay any costs incurred by Landlord in removing Tenant or Tenant’s contractors trash from areas in and around the Premises (plus a 15% surcharge for overhead). |
8. | Portable Bathroom. If applicable, Tenant’s contractor to provide, at their cost, a portable bathroom during the construction time period. |
9. | Landlord’s Approval and Consent. Wherever Landlord’s approval or consent is required (or that of its Architect, Engineer or other agent or representative) under this Exhibit “B” (or any riders, attachments or exhibits hereto), such consent or approval shall not be unreasonably withheld, conditioned or delayed and shall be provided within ten (10) working days of Landlord’s receipt of request therefor. |
A. | PROJECT PRE-COMMENCEMENT FORMS |
1. | FORM 1-CONTRACTOR’S ACKNOWLEDGEMENT: Each contractor and material supplier providing in excess of two thousand dollars ($2,000) in work or materials shall execute Form 1 prior to performing any work or supplying any materials. |
B. | PROJECT CLOSE OUT FORMS |
1. | Form A- General Contractor’s Lien Wavier and Affidavit: Must be completed and signed by Tenant’s General Contractor, notarized and returned to Landlord. Use of an alternative form must be approved by the Landlord. |
2. | Form B- Subcontractors, Lower Tier Contractor and Material-Men Lien Wavier: Must be completed by each party who performed work or provided materials, valued in excess of $500.00. Follow same instructions per Form “A” above. (Tenant must make copies as required) |
3. | Form C – Tenant’s Affidavit: Must be completed and signed by the appropriate officer of Tenant, notarized and returned to Landlord. |
4. | Form D – Cost Breakdown: Must be completed and signed by the appropriate officer of Tenant and returned to Landlord along with copies of receipts showing payment, canceled checks or other evidence of payment. |
5. | Form E – PUNCH LIST ITEMS: Tenant’s work will be inspected by the Landlord for the purpose of determining the quality of work done and the adherence to the plans approved by the Landlord. Items and comments pertaining to Landlord’s inspection will be forwarded to Tenant on Form E. |
Approved as to form by | Approved as to form by | ||
Landlord’s Representative | Tenant’s Representative | ||
[SIGNATURE APPEARS HERE] | [SIGNATURE APPEARS HERE] | ||
Date | Date |
Owner Information | Contractor Information | |
Company | ||
Name | ||
230 East South Temple | Address | |
Salt Lake City, Utah 84111 | ||
Phone (801) 478-8000 Fax (801) 478-8001 | Phone | Fax |
Tenant | Space # | |
Project Information: | ||
Property |
Name | Title | Date |
Owner Information | Contractor Information | ||
Company Name | |||
230 East South Temple | Address | ||
Salt Lake City, Utah 84111 | |||
Phone (801) 478-8000 | Fax (801) 478-8001 | Phone | Fax |
Project Information | Tenant | Space # | |
Property |
Name | Title | Date |
A duly authorized and constituted agent and representative | ||
Subscribed and sworn to before me | My Commission Expires | |
this_______ day of_________________200_______ | ||
Notary Public: | ||
____________________________ | ||
Owner Information: | Sub-Contractor/Supplier Information: | ||
Company | |||
Name | |||
230 East South Temple | Address | ||
Salt Lake City, Utah 84111 | |||
Phone (801) 478-8000 | Fax (801) 478-8001 | Phone | Fax |
Project Information: | Tenant | Sapce # | |
Property |
Name | Title | Date |
A duly authorized and constituted agent and representative | ||
Subscribed and sworn to before me | ||
this_______ day of_________________200_______ | ||
Notary Public: | ||
____________________________ | ||
My Commission Expires: | ||
Owner Information: | Tenant Information: | ||
Company | |||
Name | |||
230 East South Temple | Address | ||
Salt Lake City, Utah 84111 | |||
Phone (801) 478-8000 | Fax (801) 478-8001 | Phone | Fax |
Project Information: | Tenant | Sapce # | |
Property |
Name | Title | Date |
A duly authorized and constituted agent and representative | ||
Subscribed and sworn to before me | ||
this_______ day of_________________200_______ | ||
Notary Public: | ||
____________________________ | ||
My Commission Expires: | ||
General Contractor Information: | Tenant Information: |
Company | |
Name | d.b.a |
Contract | |
Amount | Space # |
Amount: | |
Carpentry, Drywall, and Framing | |
Acoustical Ceilings | |
Plumbing | |
Mechanical | |
Electrical | |
Paint/Wall covering | |
Flooring | |
Signage | |
Store Fixtures | |
Architectural/Engineering Fees | |
TOTAL COST OF IMPROVEMENTS |
Name | Title | Date |
A duly authorized and constituted agent and representative | ||
Subscribed and sworn to before me | ||
this_______ day of_________________200_______ | ||
Notary Public: | ||
____________________________ | ||
My Commission Expires: | ||
1. | Contractor Requirements. All contractors engaged by Tenant shall be State of Utah licensed contractors, having good labor relations, capable of performing quality workmanship and working in harmony with other contractors and subcontractors on the job. Tenant shall coordinate Tenant’s work with Landlord’s general construction work. All of Tenant’s contractors and subcontractors shall be under written obligation to comply with the provisions of Article 7 of the Lease. All of Tenant’s contractors, subcontractors, and material suppliers providing in excess of Two Thousand Dollars ($2,000.00) in work or materials to the Premises shall, prior to providing any work or material to the Premises, provide Landlord with a written acknowledgment in the form attached hereto as “Contractor’s Acknowledgement” that such entity is and shall not be entitled to and will not assert a mechanic’s lien or any other interest in the Landlord’s fee interest in the Park and that such entity will look solely to Tenant and Tenant’s interest in the Premises under this Lease for payment. |
3. | Tenant Work By Landlord. Landlord shall have the right to perform on behalf of and for the account of Tenant, subject to prompt reimbursement by Tenant, any of Tenant’s work which Landlord determines shall be so performed. Such work shall be limited only to work which Landlord reasonably believes is required because of an emergency situation, to work pertaining to structural components or requiring roof penetrations, and to work which pertains to the general utility systems for the Business Park. Reimbursement shall also be limited to the reasonable costs incurred in performing the work. |
4. | Inspection. During the course of construction, Tenant’s Work shall be subject to the inspection and approval by Landlord and Landlord’s Architect. Tenant shall require its general contractor to cooperate with Landlord and to correct any deficiency noted by Landlord during construction. Upon completion of Tenant’s Work, the Premises shall be inspected by Landlord for the purpose of determining the quality of the workmanship and adherence to Landlord approved drawings and the provisions of this Exhibit “B-1” and Exhibit “B”. Landlord shall notify Tenant in writing of any unacceptable items and Tenant shall have thirty (30) days to complete such items. |
5. | Work Rules. Tenant shall insure that its contractor(s) shall not commence work without checking in with Landlord’s on-site representative, holds a pre-construction meeting, provides a copy of the building permit, its State contractors license number, and certificate of insurance and executes an Acceptance of Premises form. All work performed by Tenant during the term of the Lease shall be performed so as to cause a minimum of interference with other tenants and the operation of the Park. Tenant will take all precautionary steps to protect its facilities and the facilities of others affected by Tenant’s Work and to police the same properly. Construction equipment and materials are to be located in confined areas and truck traffic is to be routed in and from the site as directed by Landlord so as not to burden the construction or operation of the Park. In addition to the foregoing, Tenant shall require its General Contractor and all subcontractors to comply with Landlord’s Construction Work Rules [Please forward as soon as possible so they can be provided to Tenant’s design team] which shall be issued to Tenant’s General Contractor at the time of the project check-in and its acceptance of Premises. Such Work Rules will generally describe, but not be limited to, access, hours of work, trash removal, conduct of workers, parking, material delivery, storage of material, etc. |
6. | Pay Applications. Tenant shall forward to Landlord copies of each and every pay application (“Certified Pay Application”) received by Tenant respecting Tenant’s Work on a monthly basis until the Tenant Allowance has been fully expended. All such pay applications shall be certified by Tenant’s architect. |
8. | Changes. Any material changes, modifications or alterations to Tenant’s Work or to Tenant’s drawings which are proposed by Tenant or which are requested or made by Tenant, shall be reviewed by Landlord or its Architect/Engineer. No material changes, modifications or alterations to Landlord’s Work or to Tenant’s previous approved drawings shall be made without the written consent of Landlord. Tenant shall provide Landlord with copies of any change orders in excess of Five Thousand Dollars ($5,000.00) prior to the work set forth in such change order being commenced and Landlord shall complete and notify Tenant of its review within five (5) working days of Landlord’s receipt. |
9. | The Tenant Allowance shall be paid by Landlord to Tenant in a single payment upon (i) the performance by Tenant of all of its obligations pursuant to the Exhibit “B”, and (ii) the occurrence of each of the following conditions: |
Approved as to form by Landlord’s Representative [Signature appears here] | Approved as to form by Tenant’s Representative [Signature appears here] |
Date 8/18/09 | Date August 20, 2009 |
RE: | Lease by (“Tenant”) of Premises at (“Park”) |
1. | Contractor understands that as a condition of Tenant’s Lease, Contractor must have and maintain in force at all times valid policies of workers compensation insurance, comprehensive general liability insurance and comprehensive automobile liability insurance, providing certain coverages as detailed in the Lease. |
2. | Attached are current certificates from Contractor’s workers compensation, general liability insurance companies, and comprehensive automobile liability insurance, which show that Contractor has the coverages required by the Lease. |
3. | Contractor acknowledges and agrees that it is not entitled to and will not assert a mechanic’s lien or any other interest in the Landlord’s fee interest in the Park, and that Contractor shall look solely to Tenant and Tenant’s interest in the Premises under the Lease for payment. |
Date: | |
Contractor |
1. | For purposes hereof, the terms “Landlord,” “Tenant,” “Building,” “Park,” and “Premises” are defined in the Lease to which these Rules and Regulations are attached. Wherever Tenant is obligated under these Rules and Regulations to do or refrain from doing an act or thing, such obligation shall include the exercise by Tenant of its commercially reasonable efforts to secure compliance with such obligation by the servants, employees, contractors, jobbers, agents, invitees, licensees, guests and visitors of Tenant. The term “Building” shall include the Premises, any obligations of Tenant hereunder with regard to the Building shall apply with equal force to the Premises and to other parts of the Building. |
3. | Tenant shall comply with and use its commercially reasonable efforts to cause all persons and vehicles serving or making deliveries to Tenant to use the service areas and facilities provided by Landlord in accordance with any and all rules and regulations governing the use of truck or vehicle access, parking, loading and unloading, deliveries, and permissible hours and places therefor, as the same may be from time to time reasonably established, modified, or amended by Landlord. |
4. | Tenant shall comply with all rules, orders, regulations and requirements of the governing Fire Department, the applicable Fire Rating Bureau, or any other similar body. |
5. | The Building shall be maintained as a “smoke free” environment. No smoking shall be permitted anywhere within the Building including, without limitation, any corridors, hallways, entry ways, restrooms, elevators, stairwells of the Building. Landlord may, but shall not be obligated to, post “no smoking” signs at various locations on the exterior of the Building. Tenant shall be responsible to assure that there is no smoking in the Building by its employees, and make reasonable efforts to assure that there is no smoking by its agents, contractors, and licensees. |
6. | All office equipment and any other device of any electrical or mechanical nature shall be placed by Tenant in the Premises in such a way as to absorb or prevent any vibration, noise, or annoyance. |
7. | Tenant shall be permitted to go upon the roof of the Building to perform maintenance and repairs without prior written consent of Landlord, but with prior notice to Landlord (which notice may be oral), except in the event of an emergency when no prior notice is required. |
8. | Tenant shall not deposit any trash, refuse, cigarettes, or other substances of any kind within or out of the Building, except in the refuse containers provided therefor. |
10. | Tenant shall use the Common Areas only as a means of ingress and egress. Landlord shall in all cases retain the right to control or prevent access thereto by all persons whose presence, in the reasonable judgment of Landlord, shall be detrimental to the safety, character, reputation or interest of the Park and its tenants. |
11. | Tenant shall not use the washrooms, restrooms and plumbing fixtures of the Building, and appurtenances thereto, for any other purpose than the purposes for which they were constructed, and Tenant shall not deposit any sweepings, rubbish, rags, toxic materials or other improper substances therein. Tenant shall not waste water by interfering or tampering with the faucets or outlets or otherwise. If Tenant or Tenant’s servants, employees, agents contractors, jobbers or licensees cause damage to such washrooms, restrooms, plumbing fixtures or appurtenances, such damage shall be repaired at Tenant’s expense and Landlord shall not be responsible therefor. |
12. | Upon removal of any wall decorations or installations or floor coverings by Tenant, any damage to the walls or floors shall be repaired by Tenant and Tenant’s sole cost and expense. Tenant shall refer all contractors’ representatives, installation technicians, janitorial workers and other mechanics, artisans and laborers rendering any service in connection with the repair, maintenance or improvement of the Premises to Landlord for Landlord’s approval before performance of any such service as and to the extent required by the Lease. The provisions of this paragraph shall apply to all work performed in the Building, including without limitation installation of telephones, transmission lines, equipment, electrical devices and attachments and installations of any nature any other portion of the Building. Plans and specifications for such work, prepared at Tenants’ sole expense, shall be submitted to Landlord and shall be subject to Landlord’s prior written approval in each instance before the commencement of work as and to the extent required by the Lease. All installations, alterations and additions shall be constructed by Tenant in a good and workmanlike manner and good grades of materials shall be used in connection therewith as provided in the Lease. The means by which telephone, transmission lines and similar wires are to be introduced to the Premises and the location of telephone, servers, call boxes, and other office equipment affixed to the Premises shall be subject to prior written approval of Landlord, not to be unreasonably withheld, conditioned or delayed. |
13. | Landlord shall have the right to prohibit any publicity, advertising or use of the name of the Park by Tenant which, in Landlord’s opinion, tends to impair the reputation of the Park, and upon written notice from Landlord, Tenant shall refrain from or discontinue any such publicity, advertising or use of the Park name. |
14. | Tenant shall not obstruct, alter or in any way impair the efficient operation of Landlord’s heating, ventilating, air conditioning, electrical, fire, safety or lighting systems. No heating, ventilating, air conditioning, electrical, or other equipment shall be installed on the roof of any building or structure unless the same is installed in a manner which shall have first been approved in writing by Landlord and, if required by code, properly screened. |
15. | Tenant shall not install any radio or television antenna, satellite dish, loudspeaker or other device on the roof or exterior walls of the Building without Landlord’s prior written consent, except as provided in the Lease. Tenant shall not interfere with radio or television broadcasting or wireless communications or reception, from or in the Building or elsewhere in the Park. |
16. | Employees or agents of Landlord shall not contract with nor render free or paid services to Tenant or Tenant’s servants, employees, contractors, jobbers, agents, invitees, licensees, guests or visitors. In the event that any of Landlord’s employees perform any such services, such employees shall be deemed to be the agents of Tenant regardless of whether or how payment is arranged for such services, and Tenant hereby indemnifies and holds Landlord harmless from any and all liability in connection with any such services and any associated injury or damage to property or injury or death to persons resulting therefrom. |
17. | No land or buildings within the Park shall be used so as to permit the keeping of articles, goods or materials in the open or exposed to public view. No storage units, buildings, huts, etc. are permitted outside of the Building. No overnight storage of pallets, shipping materials, boxes or other materials shall be allowed within the Park. Landlord reserves the right to remove any materials prohibited hereunder at Tenant’s expense. |
18. | No storage of vehicles shall be allowed other than those directly used in the operation of normal business. |
19. | No maintenance or repairs of vehicles shall be allowed in any Common Area or areas reserved for customer or employee parking. |
20. | Tenant shall not leave vehicles in the customer/office parking areas overnight nor park any vehicles in the customer/office parking areas other than automobiles, motorcycles, bicycles or light (four wheeled) trucks. All other vans, trucks, tractors, semi-trailers and delivery vehicles must be parked in the rear of the Building in the truck court areas. There shall be no parking of any vehicles in the Common Areas. |
21. | No Common Areas or areas reserved for customer or employee parking shall be used for motorcycle traffic or off highway vehicles similar to mini-bikes, motorcycles, dune buggies, snowmobiles or any other vehicle not normally used on streets, or subject to regulated legal registration. |
22. | Tenant shall not use, or permit any other person to use the Premises or any part thereof, or adjacent sidewalks or common areas for conducting thereon a second hand store or any auction, distress, fire, bankruptcy, moving, liquidation or going out of business sale. |
23. | No portion of the Park shall be used to distribute handbills, circulars or other political, charitable or similar material or to seek members for any organization, or to solicit contributions, or for lodging purposes, or for any parade or demonstration or other conduct which may tend to interfere with or impede the use of the Common Areas by Landlord or other tenants of the Park, or their respective employees, customers or invitees. |
24. | Tenant shall not produce, release, use, store, transport, handle or dispose of any Hazardous Material within the Park or otherwise knowingly permit the presence of any Hazardous Material on, under or about the Park, except in accordance with all Environmental Laws and as provided in the Lease. Tenant shall immediately notify the Landlord if Tenant acquires knowledge that Tenant is in breach of any of the Environmental Laws. In the event Tenant shall breach the foregoing prohibition, Landlord shall have the right, but not the obligation, to cure Tenant’s failure in that regard after Landlord shall have given Tenant reasonable notice and an opportunity to cure such failure as and to the extent provided in the Lease. If Tenant’s acts or omissions shall give rise to a violation of this section, then Tenant shall indemnify, defend, hold harmless and protect the Landlord from any and all Environmental Damages arising from such violation as and to the extent provided in the Lease. Nothing contained in this section shall be deemed a limitation on, or a waiver of, any rights or remedies available to Landlord. As used in this section, the term “Hazardous Material” means any hazardous substance, pollutant, or contaminant regulated under any applicable Environmental Laws. As used in this section, the term “Environmental Laws” means all federal, state, regional, county, municipal, or other local laws, regulations, and ordinances regulating any substance, waste or material determined by any environmental authority or agency to be capable of imposing a risk of injury to health, safety or property. As used in this section, the term “Environmental Damages” means all claims, demands, orders, judgments, damages, losses, penalties, fines, liabilities, encumbrances, liens, costs and expenses of investigation and defense of any claim related to Environmental Laws, whether or not such claim is ultimately defeated, a good faith settlement or judgement, and attorneys’ fees, including without limitation, damages for personal injury, injury to property or natural resources, and consultant and contractor fees. |
25. | Landlord may waive any one or more of these rules and regulations for the benefit of Tenant or any other tenant, but no such waiver by Landlord shall be construed as a waiver of such rules and regulations in favor of Tenant or any other tenant, nor prevent Landlord from thereafter enforcing any such rules and regulations against any or all of the tenants of the Building. |
26. | No portion of the Premises may be occupied by any of the following uses: |
(1) | Residential purposes except for the dwelling of watchmen or other employees attached to a particular enterprise authorized in the area. |
(2) | Exterior storage in bulk of any junk, wrecked autos or materials of any nature in or adjacent to the Premises. |
(3) | No portion of the Premises or any building or structure thereon at any time shall be used for the manufacture, storage, distribution, or sale of any products or items which shall increase the fire hazard of adjoining property; or for any business which constitutes a nuisance or causes the emission of odors of a gas injurious to products manufactured or stored on adjoining property or which emit undue noise or for any purpose which will injure the reputation of the Premises or the neighboring property or for any use which is in violation of any of the laws of Draper City or the State of Utah. |
27. | Sign Criteria has been established for the purpose of assuring an outstanding development and for the mutual benefit of all property owners. Signs installed as nonconforming or unapproved must be brought into conformance at the expense of Tenant. All signage must be repaired immediately when damaged. No Banner or other advertising signage will be allowed on the Premises unless approved in advance in writing by Landlord. |
28. | Each Tenant is provided with a dumpster area. All waste, garbage, cardboard, and rubbish materials shall be disposed of in a Tenant supplied dumpster to be located in Landlord designed dumpster area. Tenant will contract with a licensed waste disposal contractor and dispose of all waste materials. Tenant will remove and dispose of waste materials as frequently as necessary to maintain a clean dumpster area. |
29. | Trucks and tractor-trailers must be parked in Loading Dock areas adjacent to Tenant’s Premise. The Landlord will consider, on a case by case basis, alternative and/or additional parking areas for Tenants. |
30. | All roof top equipment and exterior roof top mechanical equipment will be set back at least eighteen (18) feet from parapet wall. |
31. | If a court of competent jurisdiction should hold any provision of this instrument, or the application thereof to any person or circumstance, to be invalid, void or illegal, the remaining provisions hereof and the application of such provision to any person or circumstance other than those as to which it is held to be invalid, void or illegal, shall nevertheless remain in full force and effect to the maximum extent permitted by law and shall not be affected thereby. |
32. | Landlord reserves the right at any time to change or rescind anyone or more of these Rules and Regulations or to make any additional reasonable Rules and Regulations that, in Landlord’s reasonable judgment, may be necessary or helpful for the management, safety or cleanliness of the Premises, Building or Park; the preservation of good order; or the convenience of occupants and Tenants of the Building generally. Landlord will notify Tenant of said change. Tenant shall be considered to have read these Rules and Regulations and to have agreed to abide by them as a condition of Tenant’s occupancy of the Premises. Landlord agrees to enforce these Rules and Regulations in a non-discriminatory manner. |
Landlord’s Signature : [Signature Appears Here] | Date |
J. Steven Price, Manager | |
Tenant’s Signature : [Signature Appears Here] | Date August 20, 2009 |
1. | The purpose of these criteria is to establish a unified sign program and the standards necessary to insure coordinated proportional exposure for all Tenants. Conformance shall be strictly enforced and the Tenant shall remove any non-conforming signs. |
2. | No signage, lettering or graphics will be permitted except as expressly allowed by these sign criteria. Without limiting the general statement in any way, signage will be permitted only as provided for in the Allowable Signage section below. In no case will signage be permitted on the roof, exterior walls, overhead doors, dock high doors, columns, or service doors, nor shall any freestanding monument, parking lot or pole sign be permitted - other than Landlord-provided tenant directory. Notwithstanding the foregoing, Tenant shall be entitled to place on and about the Premises or Tenant’s parking area directional, way-finding, parking, identification and similar signs relating to Tenant’s operations at the Premises without Landlord’s consent so long as same comply with all applicable legal requirements and Exhibit “D” |
3. | Tenant shall submit to the Landlord for approval four (4) copies of a detailed shop drawing of all proposed signage in conformance with these criteria. Each submittal shall include, but not be limited to, pertinent dimensions, installation details and color call-outs. The Landlord must approve sign contractors prior to any design work or fabrication. |
4. | Styles or Tenant logos are encouraged and may be permitted subject to approval by the Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. Landlord’s design approval will be based upon compatibility with storefront design, and with regard for the character intended of the overall Business Park. |
5. | Tenant shall submit Landlord-approved drawings to all agencies requiring approval, and shall pay for required permits. |
6. | Tenant will be responsible for supplying Landlord with copy of sign permit prior to sign installation. Tenant shall pay for all signs, their installation maintenance, removal, and after removal, restoration of the sign surface to a new and “as-built” condition. |
7. | All signs will be of excellent quality and workmanship. Work will be performed by contractor licensed to do business in Utah. Landlord reserves the right to reject any work reasonably determined to be of substandard quality. This applies to manufacturing and installation of all signs. Tenant will be fully responsible for the actions of Tenant’s sign contractor. The sign company will carry workers compensation and public liability insurance in an amount required by Landlord. No sign manufacturers’ names or logos are allowed on sign/display. |
8. | All signs and their installation must comply with the Draper City Sign Ordinance, as well as local building and electrical codes. |
9. | Signs built and/or installed without Landlord or governmental approvals and permit, or contrary to corrections made by Landlord or any governmental entity, will be altered to conform to these standards at Tenant’s expense. If Tenant’s sign has not been brought into conformance within fifteen (15) days after written notice from Landlord, Landlord shall have the right to remove and/or correct said sign at the expense of Tenant. |
10. | Within five (5) days of vacating the premises, Tenant will remove all signage and repair all surfaces in accordance with Landlord’s standards and to the condition when Premises was leased. If Tenant has not removed the sign and repaired the fascia to Landlord’s satisfaction, Landlord may exercise any of the right and remedies as set forth in the lease. |
11. | Banners, advertising placards, pennants, posters, promotional or seasonal signage, temporary fixtures for the display of goods or merchandise, or other descriptive material are not permitted and shall not be affixed or maintained upon the first or second surface of the store front windows, the entrance door, the exterior walls, canopy signage area, or Common Areas. |
12. | Permanent advertising devices such as attraction boards, posters, cardboard signs, stickers/decals, banners and flags will not be permitted. |
13. | All Tenant signs installed in the Tenant I.D. signage area (above canopy) will be vertically and horizontally centered within the fascia band fronting the Premises. No projections above or below designated sign area will be permitted. |
14. | All signs will bear the Underwriters Laboratories (U.L.) label. U.L. labels must be placed on top of the sign and no portion of the labels shall be seen from below. Manufacturer’s labels and logos are not allowed on the sign. |
1. | Tenant I.D. Sign Area (Above Canopy). Tenant will provide its own I.D. sign. Tenant I.D. signs will be individual, non-illuminated, ½” thick laser cut aluminum letters & logo. Each letter will be 12” high, painted automotive finish, semi-gloss black and mounted with minimal non-corrosive studs and silicone. Were the tenants name and logo are too long to fit within the signage area, due to the 12” letter height, the Landlord will work with Tenant to make accommodations to the letter height. Signage is limited to Tenant name and logo only. |
2. | Tenant Directory (if existing). Landlord will include Tenant in the Tenant Directories in the Park located north of the canal. Tenant will install and pay the cost of an identification sign on the Tenant Directory, which will be maintained by the Landlord. Signage is limited to Tenant’s name and logo only. |
3. | Window Graphics. Tenant may also apply silver vinyl signage on front entry door and main entrance windows. These signs will be limited to first surface (outside of window) and be limited to Tenant’s name, logo, address numerals, and business hours of operation. Location of signage on main entrance windows must be approved in writing by the Landlord prior to installation. |
4. | Loading Dock Service/Man Door. Each Tenant has a rear entry service door and may have, as approved by Landlord, uniformly applied silver colored vinyl, three inch (3”) high letters and logo, centered on door, with Tenants name and logo. Tenant will maintain letters in a new condition and remove when premise is vacated and repair and repaint door if necessary. |
5. | Loading Dock Overhead Door. Tenant may install numbers or other identification relating to its warehouse management system above each overhead door. No additional signage will be permitted on or above overhead doors without Landlord’s consent, not to be unreasonably withheld, conditioned or delayed. |
1. | Each letter and logo will be attached flush to the wall within the signage area. A combination of pins and adhesive will be permitted. |
2. | Where a tenant is the sole occupant of any building over 50,000 sf, tenant may use signage painted directly to exterior tilt panel. Tenant is responsible for patching, repairing, painting, and cleaning the sign band area to a like-new and “as-built” condition and must remove all evidence of the prior signs existence. When re-painting the signage area, the paint must match the existing color and wall and will be re-painted from score joint to score joint. If the location is not bordered by score joints, the entire tilt panel must be re-painted to match the existing color(s). |
3. | When removing signage in the Tenant I.D. Sign Area (above canopy), Tenant is responsible for patching, repairing, painting, and cleaning the sign band area to a like-new and “as-built” condition and must remove all evidence of the prior signs existence. When re-painting the signage area, the paint must match the existing color and wall and will be re-painted from score joint to score joint. If the location is not bordered by score joints, the entire tilt panel must be re-painted to match the existing color(s). |
4. | All signs, permits and related electrical hookup and installation costs shall be Tenant’s responsibility. Tenant shall repair any damage to the Premises caused by the work of Tenant’s sign contractor. All signs must conform to any applicable EPA requirements or other governmental regulations. |
5. | Sign installers shall be licensed sign contractors in accordance with the regulations of all applicable governmental agencies. Sign installers shall obtain all required permits prior to fabrication and installation of signage. |
6. | All signage must be installed no later than the date Tenant opens for business. |
1. | Animated, flashing, audible or revolving signs, or signs emitting smoke, odors or other material. |
2. | Window signage, other than that specifically outlined under the Window Graphics criteria. |
3. | No exposed conduits, wires, housings, transformers, lamps, tubing, crossover, or fastening clips will be permitted. |
4. | Painted lettering, mass manufactured temporary signage, or window signage other than specifically outlined in Allowable Signage Areas - window graphics. |
Approved by Tenant: [Signature Appears Here] | Date: |
Approved by Landlord: [Signature Appears Here] | Date: |
Approved as to form Landlord’s Representative: [Signature Appears Here] | Date: |
Cut | Cut all Lawn areas on a regular basis with mowers so as to maintain a manicured appearance. |
Trim | Trim around all Buildings, trees, poles, fences and other obstacles during such servicing. |
Edge | Edge all walks, curbs, driveways, and similar areas upon such servicing. |
Weed | Remove all weeds from areas as needed. |
Clean Up | Remove all grass clippings from walks, drives, and parking areas after such servicing. |
Shrub Pruning | Prune all shrubbery as needed to maintain and promote a manicured and healthy appearance. |
Tree Pruning | Prune all trees as required to remove damaged branches, sucker growth, dead wood, and similar matters. |
Leaf Removal | Collect and remove all fallen leaves. |
PRICE LOGISTICS CENTER DRAPER, LLC | |
By | [SIGNATURE APPEARS HERE] |
J. Steven Price, Manager |
PRICE LOGISTICS CENTER DRAPER ONE, LLC | |
By | [SIGNATURE APPEARS HERE] |
J. Steven Price, Manager | |
PRICE LONE PEAK WEST, LLC | |
By | [SIGNATURE APPEARS HERE] |
J. Steven Price, Manager | |
PRICE LONE PEAK COMPANY, LLC | |
By | [SIGNATURE APPEARS HERE] |
J. Steven Price, Manager | |
PRICE LONE PEAK RETAIL, LLC | |
By | [SIGNATURE APPEARS HERE] |
J. Steven Price, Manager |
STATE OF UTAH | ) |
: | |
COUNTY OF SALT LAKE | ) |
_______________________________________ | |
NOTARY PUBLIC | |
Residing at | __________________________ |
____________________ |
STATE OF UTAH | ) |
: | |
COUNTY OF SALT LAKE | ) |
____________________________________ | |
NOTARY PUBLIC | |
Residing at | ________________________ |
My Commission Expires: | |
STATE OF UTAH | ) |
: | |
COUNTY OF SALT LAKE | ) |
_______________________________________ | |
NOTARY PUBLIC | |
Residing at | __________________________ |
My Commission Expires: |
STATE OF UTAH | ) |
: | |
COUNTY OF SALT LAKE | ) |
_______________________________________ | |
NOTARY PUBLIC | |
Residing at | ________________________ |
_____________________ |
STATE OF UTAH | ) |
: | |
COUNTY OF SALT LAKE | ) |
______________________________________ | |
NOTARY PUBLIC | |
Residing at | __________________________ |
____________________ |
Haemonetics Corporation 2005 Long-Term Incentive Compensation Plan Effective July 27, 2005 As Amended: July 31, 2008 July 29, 2009 July 21, 2011 November 30, 2012 |
Article 1. | Establishment, Objectives, and Duration 1 |
Article 2. | Definitions 1 |
Article 3. | Administration 4 |
Article 4. | Shares Subject to the Plan and Maximum Awards 5 |
Article 5. | Eligibility and Participation 6 |
Article 6. | Stock Options 7 |
Article 7. | Stock Appreciation Rights 8 |
Article 8. | Restricted Stock 9 |
Article 9. | Deferred Stock/Restricted Stock Units……………………………………………10 |
Article 10. | Other Stock Unit Awards…………………………………………………………11 |
Article 11. | Performance Shares 11 |
Article 12. | Performance Measures 12 |
Article 13. | Rights of Participants 13 |
Article 14. | Termination of Employment/Directorship 13 |
Article 15. | Change in Control 14 |
Article 16. | Amendment, Modification, and Termination 15 |
Article 17. | Withholding 15 |
Article 18. | Successors 16 |
Article 19. | General Provisions 16 |
(b) | The number of Shares with respect to which the SAR is exercised. |
1. | Purpose. The Company considers a sound and vital management team to be essential. Management personnel who become concerned about the possibility that the Company may undergo a Change in Control (as defined in Paragraph 2 below) may terminate employment or become distracted. Accordingly, the Board has determined to extend this Agreement to minimize the distraction the Officer may suffer from the possibility of a Change in Control. |
2. | Change in Control. The term “Change in Control” for purposes of this Agreement shall mean the earliest to occur of the following events during the Term (as defined in Paragraph 3(d) below): |
(a) | a person, or any two or more persons acting as a group, and all affiliates of such person or persons, who prior to such time owned less than thirty-five percent (35%) of the then outstanding shares of the Company’s $0.01 par value common stock |
(b) | closing of the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, and |
(c) | there is a consummation of any merger, reorganization, consolidation or share exchange unless the persons who were the beneficial owners of the outstanding shares of the common stock of Company immediately before the consummation of such transaction beneficially own more than 50% of the outstanding shares of the common stock of the successor or survivor entity in such transaction immediately following the consummation of such transaction. For purposes of this Paragraph 2(c), the percentage of the beneficially owned shares of the successor or survivor entity described above shall be determined exclusively by reference to the shares of the successor or survivor entity which result from the beneficial ownership of shares of common stock of the Company by the persons described above immediately before the consummation of such transaction. |
4. | Severance Benefits. If, during the Protection Period (as defined in Paragraph 3(a)(ii) above), the Officer “Separates from Service” (as defined in Paragraph 5(a) below) due to termination of employment by the Company and its subsidiaries without “Cause” (as defined in Paragraph 5(b)) or by the Officer due to “Constructive Termination” (as defined in Paragraph 5(c)) (each, a “Qualifying Termination”), the Officer shall be entitled to the severance benefits set forth in this Paragraph 4. The Officer shall not be entitled to severance benefits upon any other Separation from Service, including a termination of employment by the |
(i) | the sum of (A) salary at the annualized rate which was being paid by the Company and/or subsidiaries to the Officer immediately prior to the time of such termination or, if greater, at the time of the Change in Control plus (B) the annual target bonus and/or any other annual cash incentive award opportunity applicable to the Officer at the time of the Qualifying Termination or, if greater, at the time of the Change in Control, by |
(ii) | 2.0 |
(i) | The vesting of the Officer’s Equity Awards granted on or after the Effective Date that vest solely on the basis of continued employment with the Company or any of its subsidiaries shall be accelerated solely by reason of a Change in Control only if the surviving corporation or acquiring corporation following a Change in Control refuses to assume or continue the Officer’s Equity Awards or to substitute similar Equity Awards for those outstanding immediately prior to the Change in Control. If such Officer’s Equity Awards are so continued, assumed or substituted and at any time after the Change in Control the Officer incurs a Qualifying Termination, then the vesting and exercisability of all such unvested Equity Awards held by the Officer that are then outstanding shall be accelerated in full and any reacquisition rights held by the Company with respect to any such Equity Award shall lapse in full, in each case, upon such termination. |
(ii) | The vesting of the Officer’s Equity Awards that vest, in whole or in part, based upon achieving Performance Criteria shall be accelerated on a pro rata basis by reason of a Change in Control. The pro rata vesting amount shall equal the designated target award multiplied by a fraction, the numerator of which is the number of days the Officer was employed during the award’s performance period as of the date of the Change in Control, and (b) the denominator is the number of days in the performance period. For purposes of this Paragraph 4(d), “Performance Criteria” means any business criteria that apply to the Officer, a business unit, division, subsidiary, affiliate, the Company or any combination of the foregoing. |
(iii) | Enforcement of the terms of this Paragraph 4(d) shall survive termination of this Agreement. |
5. | Definitions of “Separation from Service,” “Cause,” “Constructive Termination,” and “Disability”. For purposes of this Agreement, the following terms shall have the meanings set forth below: |
(a) | The term “Separation from Service” or “Separates from Service” for purposes of this Agreement shall mean a “separation from service” within the meaning of Section 409A of the Code (after applying the presumptions in Treas. Reg. Sect. 1.409A-1(h)). |
(b) | “Cause” means (i) the Officer’s conviction of (or a plea of guilty or nolo contendere to) a felony or any other crime involving moral turpitude, dishonesty, fraud, theft or financial impropriety; or (ii) a determination by a majority of the Board in good faith that the Officer has (A) willfully and continuously failed to perform substantially the Officer’s duties (other than any such failure resulting from the Officer’s Disability or incapacity due to bodily injury or physical or mental illness), after a written demand for substantial performance is delivered to the Officer by the Board that specifically identifies the manner in which the Board believes that the Officer has not substantially performed the Officer’s duties, (B) engaged in illegal conduct, an act of dishonesty or gross misconduct, or (C) willfully violated a material requirement of the Company’s code of conduct or the Officer’s fiduciary duty to the Company. No act or failure to act on the part of the Officer shall be considered “willful” unless it is done, or omitted to be done, by the Officer in bad faith and without reasonable belief that the Officer’s action or omission was in, or not opposed to, the best interests of the Company or its subsidiaries. In order to terminate the Officer’s employment for Cause, the Company shall be required to provide the Officer a reasonable opportunity to be heard (with counsel) before the Board, which shall include at least ten (10) business days of advance written notice to the Officer. Further, the Officer’s attempt to secure employment with another employer that does not breach the Officer’s non-competition obligations shall not constitute an event of “Cause”. |
(i) | a material reduction in the Officer’s annual base salary as in effect immediately prior to a Change in Control or as the same may be increased from time to time, and/or a material failure to provide the Officer with an opportunity to earn annual incentive compensation and long-term incentive compensation at least as favorable as in effect immediately prior to a Change of Control or as the same may be increased from time to time, |
(ii) | a material diminution in the Officer’s authority, duties, or responsibilities as in effect at the time of the Change in Control; |
(iii) | a material diminution in the authority, duties, or responsibilities of the supervisor to whom the Officer is required to report (it being understood that if the Officer reports to the Board, a requirement that the Officer report to any individual or body other than the Board will constitute “Constructive Termination” hereunder); |
(iv) | a material diminution in the budget over which the Officer retains authority; |
(v) | the Company’s requiring the Officer to be based anywhere outside a fifty mile radius of the Company’s offices at which the Officer is based as of immediately prior to a Change of Control (or any subsequent location at which the Officer has previously consented to be based) except for required travel on the Company’s business to an extent that is not substantially greater than the Officer’s business travel obligations as of immediately prior to a Change in Control or, if more favorable, as of any time thereafter; or |
(vi) | any other action or inaction that constitutes a material breach by the Company or any of its subsidiaries of the terms of this Agreement. |
(d) | “Disability” means the Officer’s inability, due to physical or mental incapacity resulting from injury, sickness or disease, for one hundred and eighty (180) days in any twelve-month period to perform his duties hereunder. |
(a) | If it is determined that part or all of the compensation and benefits payable to the Officer (whether pursuant to the terms of this Agreement or otherwise) before application of this Paragraph 6 would constitute “parachute payments” under Section 280G of the Code, and the payment thereof would cause the Officer to incur the 20% excise tax under Section 4999 of the Code, then the amounts otherwise payable to or for the benefit of the Officer pursuant to this Agreement (or otherwise) that, but for this Paragraph 6 would be “parachute payments,” (referred to below as the “Total Payments”) shall either (i) be reduced so that the present value of the Total Payments to be received by the Officer will be equal to three times the “base amount” (as defined under Section 280G of the Code less $1,000 (the “280G Cap”), or (ii) paid in full, whichever produces the better after-tax position to the Officer (taking into account all applicable taxes, including but not limited to the excise tax under Section |
(b) | All determinations required under this Paragraph 6 shall be made by a nationally recognized accounting, executive compensation or law firm appointed by the Company (the “Consultant”) that is reasonably acceptable to the Officer on the basis of “substantial authority” (within the meaning of Section 6662 of the Code). The Consultant’s fee shall be paid by the Company. The Consultant shall provide a report to the Officer that may be used by the Officer to file the Officer’s federal tax returns. |
(c) | It is possible that payments could be made by the Company that should not have been made pursuant to this Paragraph 6. If a reduced payment or benefit is provided and through error or otherwise that payment or benefit, when aggregated with other payments and benefits from the Company (or its subsidiaries) used in determining the 280G Cap, then the Officer shall immediately repay such excess in cash to the Company upon notification that an overpayment has been made. |
(d) | Nothing in this Paragraph 6 shall require the Company to be responsible for, or have any liability or obligation with respect to, any excise tax liability under Section 4999 of the Code. |
7. | Release. The Officer agrees that the Company will have no obligations to the Officer under Paragraph 4 above until the Officer executes a release in a form acceptable by the Company and, further, will have no further obligations to the Officer under Paragraph 4 if the Officer revokes such release. The Officer shall have 21 days after Separation from Service to consider whether or not to sign the release. If the Officer fails to return an executed release to the Company’s Vice President of Human Resources within such 21 day period, or the Officer subsequently revokes a timely filed release, the Company shall have no obligation to pay any amounts or benefits under Paragraph 4 of this Agreement. |
8. | No Interference with Other Vested Benefits. Regardless of the circumstances under which the Officer may terminate from employment, the Officer shall have a right to any benefits under any employee benefit plan, policy or program maintained by the Company which the Officer had a right to receive under the terms of such employee benefit plan, policy or program after a termination of the Officer’s employment without regard to this Agreement. The Company shall within thirty (30) days of Separation from Service pay the Officer any earned but unpaid base salary and bonus, shall promptly pay the Officer for any earned but untaken vacation and shall promptly reimburse the Officer for any incurred but unreimbursed expenses which are otherwise reimbursable under the Company’s expense reimbursement policy as in effect for senior executives immediately before the Officer’s employment termination. |
9. | Consolidation or Merger. If the Company is at any time before or after a Change in Control merged or consolidated into or with any other corporation, association, partnership or other entity (whether or not the Company is the surviving entity), or if substantially all of the assets thereof are transferred to another corporation, association, partnership or other entity, the provisions of this Agreement will be binding upon and inure to the benefit of the corporation, association, partnership or other entity resulting from such merger or consolidation or the acquirer of such assets (collectively, “acquiring entity”) unless the Officer voluntarily elects not to become an employee of the acquiring entity as determined in good faith by the Officer. Furthermore, in the event of any such consolidation or transfer of substantially all of the assets of the Company, the Company shall enter into an agreement with the acquiring entity that shall provide that such acquiring entity shall assume this Agreement and all obligations and liabilities under this Agreement; provided, that the Company’s failure to comply with this provision shall not adversely affect any right of the Officer hereunder. This Paragraph 9 will apply in the event of any subsequent merger or consolidation or transfer of assets. |
10. | No Mitigation. The Company agrees that the Officer is not required to seek other employment after a Qualifying Termination or to attempt in any way to reduce any amounts payable to the Officer by the Company under Paragraph 4 of this Agreement. Further, the amount of any payment or benefit provided for in this Agreement shall not be reduced by any compensation earned by the Officer as the result of employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by the Officer to the Company, or otherwise. |
11. | Payments. All payments provided for in this Agreement shall be paid in cash in the currency of the primary jurisdiction in which the Executive provided services to the Company and its subsidiaries immediately prior to Separation from Service. The Company shall not be required to fund or otherwise segregate assets to ensure payments under this Agreement. |
12. | Tax Withholding; Section 409A. |
(a) | All payments made by the Company to the Officer or the Officer’s dependents, beneficiaries or estate will be subject to the withholding of such amounts relating to tax and/or other payroll deductions as may be required by law. |
(b) | The Parties intend that the benefits and payments provided under this Agreement shall be exempt from, or comply with, the requirements of Section 409A of the Code. Notwithstanding the foregoing, the Company shall in no event be obligated to indemnify the Officer for any taxes or interest that may be assessed by the IRS pursuant to Section 409A of the Code. |
13. | Arbitration. |
(a) | The Parties shall submit any disputes arising under this Agreement to an arbitration panel conducting a binding arbitration in Boston, Massachusetts or at such other location as may be agreeable to the Parties, in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association in effect on the date of such arbitration (the “Rules”), and judgment upon the award rendered by the arbitrator or arbitrators may be entered in any court having jurisdiction thereof. The award of the arbitrator shall be final and shall be the sole and exclusive remedy between the Parties regarding any claims, counterclaims, issues or accountings presented to the arbitrator. |
(b) | The Parties agree that the arbitration shall be conducted by one (1) person mutually acceptable to the Company and the Officer, provided that if the Parties cannot agree on an arbitrator within thirty (30) days of filing a notice of arbitration, the arbitrator shall be selected by the manager of the principal office of the American Arbitration Association in Suffolk County in the Commonwealth of Massachusetts. Any action to enforce or vacate the arbitrator’s award shall be governed by the federal Arbitration Act, if applicable, and otherwise by applicable state law. |
(c) | If either Party pursues any claim, dispute or controversy against the other in a proceeding other than the arbitration provided for herein, the responding Party shall be entitled to dismissal or injunctive relief regarding such action and recovery of all costs, losses and attorney’s fees related to such action. |
(d) | All of Officer’s reasonable costs and expenses incurred in connection with such arbitration shall be paid in full by the Company promptly on written demand from the Officer, including the arbitrators’ fees, administrative fees, travel expenses, out-of-pocket expenses such as copying and telephone, court costs, witness fees and attorneys’ fees; provided, however, the Company shall pay no more than $50,000 per year in attorneys’ fees unless a higher figure is awarded in the arbitration, in which event the Company shall pay the figure awarded in the arbitration. |
(e) | Reimbursement of reasonable costs and expenses under Paragraph 13(d) shall be administered consistent with the following additional requirements as set forth in |
(f) | The Officer acknowledges and expressly agrees that this arbitration provision constitutes a voluntary waiver of trial by jury in any action or proceeding to which the Officer or the Company may be parties arising out of or pertaining to this Agreement. |
14. | Assignment; Payment on Death. |
(a) | The provisions of this Agreement shall be binding upon and shall inure to the benefit of the Officer, the Officer’s executors, administrators, legal representatives and assigns and the Company and its successors. |
(b) | In the event that the Officer becomes entitled to payments under this Agreement and subsequently dies, all amounts payable to the Officer hereunder and not yet paid to the Officer at the time of the Officer’s death shall be paid to the Officer’s beneficiary. No right or interest to or in any payments shall be assignable by the Officer; provided, however, that this provision shall not preclude the Officer from designating one or more beneficiaries to receive any amount that may be payable after the Officer’s death and shall not preclude the legal representatives of the Officer’s estate from assigning any right hereunder to the person or persons entitled thereto under the Officer’s will or, in the case of intestacy, to the person or persons entitled thereto under the laws of intestacy applicable to the Officer’s estate. The term “beneficiary” as used in this Agreement shall mean the beneficiary or beneficiaries so designated by the Officer to receive such amount or, if no such beneficiary is in existence at the time of the Officer’s death, the legal representative of the Officer’s estate. |
(c) | No right, benefit or interest hereunder shall be subject to anticipation, alienation, sale, assignment, encumbrance, charge, pledge, hypothecation, or set-off in respect of any claim, debt or obligation, or to execution, attachment, levy or similar process, or assignment by operation of law. Any attempt, voluntary or involuntary, to effect any action specified in the immediately preceding sentence shall, to the full extent permitted by law, be null, void and of no effect. |
15. | Amendments and Waivers. Except as otherwise specified in this Agreement, this Agreement may be amended, and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Parties. |
16. | Integration. The terms of this Agreement shall supersede any prior agreements, understandings, arrangements or representations, oral or otherwise, expressed or implied, with respect to the subject matter hereof which have been made by either Party, including but not limited to the Prior Agreement. By signing this Agreement, the Officer releases and discharges the Company from any and all obligations and liabilities heretofore or now existing under or by virtue of such prior agreements. |
17. | Notices. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of delivery if delivered by hand, (b) on the date of transmission, if delivered by confirmed facsimile, (c) on the first business day following the date of deposit if delivered by guaranteed overnight delivery service, or (d) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows: |
18. | Severability. Any provision of this Agreement held to be unenforceable under applicable law will be enforced to the maximum extent possible, and the balance of this Agreement will remain in full force and effect. |
19. | Headings of No Effect. The paragraph headings contained in this Agreement are included solely for convenience or reference and shall not in any way affect the meaning or interpretation of any of the provisions of this Agreement. |
20. | Not an Employment Contract. This Agreement is not an employment contract and shall not give the Officer the right to continue in employment by Company or any of its subsidiaries for any period of time or from time to time nor shall this Agreement give the Officer the right to continued membership on the Company’s Executive Committee or Operating Committee.. This Agreement shall not adversely affect the right of the Company or any of its subsidiaries to terminate the Officer’s employment with or without cause at any time. |
21. | Governing Law. This Agreement and its validity, interpretation, performance and enforcement shall be governed by the laws of the Commonwealth of Massachusetts (without reference to the choice of law principles thereof). |
20. | Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument. |
THE BUNCHER COMPANY | ||||||||||
By | [Signature appears here] | By | [Signature appears here] | |||||||
Title | SECRETARY | Title | PRESIDENT |
(Corporate Seal) |
ATTEST: | HAEMONETICS CORPORATION | |||||||||
By | [Signature appears here] | By | [Signature appears here] | |||||||
Title | [Signature appears here] | Title | [Signature appears here] |
A. | Tenant shall continue to pay to Landlord as monthly rental for the Leased Premises, excluding the Building #3 Space, the existing monthly rental of $28,666.13 to and including the later of March 1, 2008 or the first day of the month preceding the month in which the Building #3 Space Rent Commencement Date occurs, whichever is applicable. |
B. | On April 1, 2008 or on the Building #3 Space Rent Commencement Date, whichever is applicable, Tenant shall pay to Landlord the per diem rental set forth in paragraph 3 of this Fourth Amendment to Agreement of Lease, if any. |
C. | Beginning April 1, 2008 or on the Building #3 Space Rent Commencement Date, whichever is applicable, and on the first day of the next succeeding eleven (11) months thereafter, Tenant shall pay to Landlord as monthly rental for the Leased Premises, as expanded by the Building #3 Space, the amount of $38,692.23. |
D. | In the event Tenant exercised its option to extend the Lease and the term thereof for the Building #3 Space for the New Renewal(s) as provided in paragraph 7 herein, Tenant shall continue to pay to Landlord as monthly rental for the Leased Premises, as expanded by the Building #3 Space, the amount of $38,692.23 plus any additional rental for real estate taxes or insurance premiums over the base year, if any, to the expiration of the extant New Renewal Term. |
E. | Beginning on the first day of the month following the expiration of the Building #3 Lease Term for whatever cause, and on the first day of each calendar month thereafter during the balance of the term of the Lease, Tenant shall pay to Landlord as monthly rental for the Leased Premises the amount of $28,666.13. |
ATTEST: | THE BUNCHER COMPANY | ||||
BY: | (SIGNATURE APPEARS HERE) | BY: | (SIGNATURE APPEARS HERE) | ||
Bernita Buncher | Thomas J. Balestrieri | ||||
Secretary | President/CEO |
ATTEST: | HAEMONETICS CORPORATION | |||||||||
BY: | (SIGNATURE APPEARS HERE) | BY: | (SIGNATURE APPEARS HERE) | |||||||
Name: | (SIGNATURE APPEARS HERE) | Name: | (SIGNATURE APPEARS HERE) | |||||||
Title: | (SIGNATURE APPEARS HERE) | Title: | (SIGNATURE APPEARS HERE) |
EXTERIOR: | The exterior of the warehouse is painted concrete block. |
FRAME: | Rigid steel frame construction with bay spacing of 50’ x 23’. Interior steel and roof deck is painted white. |
FLOOR: | 6” reinforced concrete over compacted fill at dock height. Landlord will clean the concrete floor prior to Tenant’s occupancy. |
ROOF: | 20 gauge steel decking, insulated, single membrane rubber roof system. |
HEAT: | Warehouse: Gas-fired unit heaters thermostatically controlled to provide 50°F inside temperature at 0°F outside temperature in warehouse to be delivered by Landlord in good working order. Landlord will inspect all existing unit heaters and perform any repairs, if necessary. |
ELECTRICAL: | Existing electrical service to the building is 480/277 volt, 3- phase, 4-wire to service the existing office and warehouse. Any additional power required by Tenant shall be at Tenant’s sole cost and expense. |
LIGHTING: | Warehouse: Existing lighting is 400-watt metal halide light and fixture in the warehouse area; landlord will inspect and replace any bad ballasts or burned out bulbs. |
TRUCK DOORS: | Landlord will inspect the existing dock doors to include the drive-up ramp lift door and any corresponding dock lights, making any necessary repairs so that they are delivered in good working order. |
SPRINKLERS: | Ordinary hazard 125’ wet system conforming to N.F.P.A. Pamphlet 13 to be delivered in good working order. The system is designed with 165°F sprinkler heads with a flow rate of .20 GPM over the most remote 2,000 square feet. Product must remain 18” below sprinkler heads. It is Tenant’s responsibility to check for adequacy of the system as it relates to their product. |
DEMISING WALLS: | The warehouse is separated from the adjacent tenants by block demising walls. Landlord will repaint the inside face of the northern and western exterior block walls. |
EXHIBIT | B-4 | (SIGNATURE APPEARS HERE) | ||
PAGE | 1 | OF | 2 |
AREA: | Landlord will refurbish the existing mezzanine office space consisting of approximately 410 square feet, in accordance with the following finishes and allowances: |
LIGHTING: | Fluorescent, lay-in recessed fixtures to provide a minimum of 50’ candle power at desk level. |
ELECTRICAL OUTLETS: | 110-volt duplex electrical outlets, as exists. |
FLOORS: | New vinyl tile floor to be installed. |
INTERIOR DOORS: | Existing interior doors are solid core birch, 13/4” (3’x7’) with Schlage brushed aluminum, or equal, hardware. |
CEILING: | Install new acoustical tile (2’x4’ lay-in on T-bar grid system) throughout the office and restrooms. |
INTERIOR WALLS: | Existing interior walls are constructed of metal studs, with 1/2” gypsum board taped, spackled, and sanded. Landlord will paint the walls, color to be chosen by Tenant from The Buncher Company’s standard selections. |
CENTRAL HEATING/ H.V.A.C: | Landlord will inspect and service the existing HVAC wall mounted package units for proper operation and deliver them in good working order. |
SANITARY FACILITIES: | Landlord will inspect all fixtures for proper operation and professionally clean and sanitize the warehouse restrooms and deliver them compliant with ADA as well as local code and ordinances. |
EMERGENCY LIGHTING: | Battery powered back-up night-lights and exit lights. |
EXHIBIT | B-4 | ||
PAGE | 2 | OF | 2 |
[LOGO GRAPHIC APEAR HERE] | Tel: 412/422-9900 Fax: 412/422-3900 |
Real Estate Group Penn Liberty Plaza I 1300 Penn Avenue, Suite 300 Pittsburgh, PA 15222-4211 |
RE: | FIFTH AMENDMENT TO AGREEMENT OF LEASE DATED JULY 17, 1990 BY AND BETWEEN THE BUNCHER COMPANY, AS LANDLORD, AND HAEMONETICS CORPORATION, AS TENANT, AS AMENDED BY FIRST AMENDMENT TO AGREEMENT OF LEASE DATED APRIL 30, 1991, AS AMENDED BY SECOND AMENDMENT TO AGREEMENT OF LEASE DATED OCTOBER 18, 2000, AS AMENDED BY THIRD AMENDMENT TO AGREEMENT OF LEASE DATED MARCH 23, 2004, AND AS AMENDED BY FOURTH AMENDMENT DATED MARCH 12, 2008 (COLLECTIVELY “THE LEASE”) COVERING THE PROPERTY LOCATED IN BUNCHER COMMERCE PARK, LEETSDALE, PA (THE “LEASED PREMISES”) |
A. | Tenant shall continue to pay to Landlord as monthly rental for the Leased Premises (i.e. Building 18 and 18A and the Building #3 Space) the existing monthly rental of $38,692.23 to and including October 1, 2008. |
B. | Beginning October 1, 2008 and on the first day of each succeeding calendar month thereafter to and including March 1, 2009, Tenant shall pay to Landlord as monthly rental for the Leased Premises, as expanded by the Building 18 Expansion Space, the amount of $38,942.23. |
C. | In the event Tenant exercises its option to extend the Lease and the term thereof for the Building #3 Space for the New Renewal Term(s) as provided in paragraph 7 of the Fourth Amendment to Agreement of Lease, beginning on April 1, 2009, Tenant shall continue to pay to Landlord as monthly rental for the Leased Premises (i.e. Building 18 and 18A, Building 18 Expansion Space and the Building #3 Space) the amount of $38,942.23. |
D. | In the event the Building #3 Lease Term or any extension thereof terminates for whatever cause, beginning on the first day of the month following the termination of the Building #3 Lease and on the first day of each calendar month thereafter to and including June 1, 2011, Tenant shall pay to Landlord as monthly rental for the Leased Premises (i.e. Building 18 and 18A and the Building 18 Expansion Space the amount of $28,916.13. |
E. | Beginning on July 1, 2011, and on the first day of each calendar month thereafter for the balance of the Second Extended Term, Tenant shall pay to Landlord as monthly rental for the Leased |
ATTEST: | THE BUNCHER COMPANY | |||
BY: | [SIGNATURE APPEARS HERE] | BY: | [SIGNATURE APPEARS HERE] | |
Bernita Buncher | Thomas J. Balestrieri | |||
Secretary | President/CEO |
ATTEST: | HAEMONETICS CORPORATION | |||
BY: | [SIGNATURE APPEARS HERE] | BY: | [SIGNATURE APPEARS HERE] | |
Name: | [SIGNATURE APPEARS HERE] | Name: | [SIGNATURE APPEARS HERE] | |
Title: | [SIGNATURE APPEARS HERE] | Title: | [SIGNATURE APPEARS HERE] |
A. | Tenant shall continue to pay to Landlord on the first (1st) day of each calendar month for the balance of the second Renewal Term to and including March 1, 2010, as monthly rental for the Leased Premises (i.e. Buildings 18 and 18A, the Building 18 Expansion Space and the Building #3 Space) the amount of $38,942.23. |
B. | Beginning on April 1, 2010, and on the first (1st) day of each succeeding calendar month thereafter for the balance of the third Renewal Term to and including September 1, 2010, Tenant shall pay to Landlord as monthly rental for the Leased Premises (i.e. Buildings 18 and 18A, the Building 18 Expansion Space and the Building #3 Space) the amount of $38,942.23. |
C. | In the event the third Renewal Term or fourth Renewal Term, whichever may be applicable, terminates or expires for the Building #3 Space for whatever cause, beginning on the first (1st) day of the month following the termination or expiration of the third Renewal Term or fourth Renewal Term, whichever may be applicable, and on the first (1st) day of each calendar month thereafter during the Second Extended Term to and including June 1, 2011, Tenant shall pay to Landlord as monthly rental for the Leased Premises (i.e. Buildings 18 and 18A and the Building 18 Expansion Space the amount of $28,916.13. |
D. | Beginning on July 1, 2011, and on the first (1st) day of each calendar month thereafter for the balance of the Second Extended Term, Tenant shall pay to Landlord as monthly rental for the Leased Premises (i.e. Building 18 and 18A and the Building 18 Expansion Space) the amount of $31,997.49. |
ATTEST: | THE BUNCHER COMPANY | ||||
BY: | (SIGNATURE APPEARS HERE) | BY: | (SIGNATURE APPEARS HERE) | ||
Bernita Buncher | Thomas J. Balestrieri | ||||
Secretary | President/CEO |
ATTEST: | HAEMONETICS CORPORATION | ||||||||
BY: | (SIGNATURE APPEARS HERE) | BY: | (SIGNATURE APPEARS HERE) | ||||||
Name: | (SIGNATURE APPEARS HERE) | Name: | (SIGNATURE APPEARS HERE) | ||||||
Title: | (SIGNATURE APPEARS HERE) | Title: | (SIGNATURE APPEARS HERE) |
A. | Tenant shall continue to pay to Landlord on the first (1st) day of each calendar month for the balance of the Fourth Renewal Term, to and including June 1, 2011, as monthly rental for the Leased Premises (i.e. Buildings 18 and 18A, the Building 18 Expansion Space and the Building #3 Space), the amount of $38,942.23. |
B. | Beginning on July 1, 2011, and on the first (1st) day of each succeeding calendar month thereafter to and including March 1, 2012, Tenant shall pay to Landlord as monthly rental for the Leased Premises (i.e. Buildings 18 and 18A, the Building 18 Expansion Space and the Building #3 Space) the amount of $42,023.59. |
C. | In the event the Fifth Renewal Term terminates or expires for the Building #3 Space for whatever cause, beginning on the first (1st) day of the month following the termination or expiration of the Fifth |
ATTEST: | THE BUNCHER COMPANY | |||
By: | By: | |||
Bernita Buncher | Thomas J. Balestrieri | |||
Secretary | President/CEO |
ATTEST: | HAEMONETICS CORPORATION | |||
By: | [Graphic appears here] | By: | [Graphic appears here] | |
Name: | [Graphic appears here] | Name: | [Graphic appears here] | |
Title: | [Graphic appears here] | Title: | [Graphic appears here] |
RE: | EIGHTH AMENDMENT TO AGREEMENT OF LEASE DATED MARCH 31, 2011 BY AND BETWEEN THE BUNCHER COMPANY, AS LANDLORD, AND HAEMONETICS CORPORATION, AS TENANT, AS AMENDED BY FIRST AMENDMENT TO AGREEMENT OF LEASE DATED APRIL 30, 1991, AS AMENDED BY SECOND AMENDMENT TO AGREEMENT OF LEASE DATED OCTOBER 18, 2000, AS AMENDED BY THIRD AMENDMENT TO AGREEMENT OF LEASE DATED MARCH 23, 2004, AS AMENDED BY FOURTH AMENDMENT DATED MARCH 12, 2008, AS AMENDED BY FIFTH AMENDMENT TO AGREEMENT OF LEASE DATED OCTOBER 1, 2008, AS AMENDED BY SIXTH AMENDMENT TO AGREEMENT OF LEASE DATED JULY 17, 1990, AS AMENDED BY SEVENTH AMENDMENT TO AGREEMENT OF LEASE DATED MARCH 31, 2011, AND AS AMENDED BY LETTER AGREEMENT DATED JANUARY 27, 2012 (COLLECTIVELY “THE LEASE”) COVERING BUILDINGS 18/18A AND 3 LOCATED IN BUNCHER COMMERCE PARK, LEETSDAIJE, PA (THE “LEASED PREMISES”) |
A. | Tenant shall, for the balance of the Sixth Renewal Term, during the Seventh Renewal Term, and for the balance of the Second Extended Term continue to pay to Landlord on the first (1st) day of each calendar month to and including March 1, 2014, as monthly rental for the Leased Premises (i.e. Buildings 18 and 18A, the Building 18 Expansion Space and the Building #3 Space), the amount of $42,259.50. |
B. | In the event the term of the Lease terminates or expires for the Building #3 Space only for whatever cause, beginning on the first (1st) day of the month following the termination or expiration of the term of the Lease for the Building #3 Space only, and on the first (1st) day of each calendar month thereafter during the balance of Second Extended Term, Tenant shall pay to Landlord as monthly rental for the Leased Premises, excluding the Building #3 Space (i.e. Buildings 18 and 18A and the Building 18 Expansion Space) the amount of $31,997.49. |
ATTEST: | THE BUNCHER COMPANY | |||
By: | (Graphics appears hear) | By: | (Graphics appears hear) | |
Bernita Buncher Secretary | Thomas J. Balestrieri President / CEO |
ATTEST: | THE BUNCHER COMPANY | |||
By: | (Graphics appears hear) | By: | (Graphics appears hear) | |
Name: | (Graphics appears hear) | Name: | (Graphics appears hear) | |
Title: | (Graphics appears hear) | Title: | (Graphics appears hear) |
1 | Que con fecha 21 de febrero de 2000, el ARRENDADOR y el ARRENDATARIO celebraron un Contrato de Arrendamiento cuyo objeto es la nave industrial y las mejoras accesorias ubicadas en la Calle Colinas #11730 del Fraccionamiento Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa. en esta ciudad de Tijuana, Baja California, Mexico (en lo sucesivo el “Contrato de Arrendamiento”) |
1 | That on February 21, 2000, the LESSOR and the LESSEE entered into a Lease Agreement in connection with the industrial building and certain improvements located at Calle Colinas #11730 of Parque Industrial El Florido Seccion Colinas, Delegacion La Presa, in the City of Tijuana, Baja California, Mexico (hereinafter referred as the “Lease Agreement”). |
2. | Que el termino del Contrato de Arrendamiento es de diez (10) anos. |
3 | Que la Fecha de Inicio del Arrendamiento, segun convinieron las partes contratantes, quedó fijada como el dia 31 de julio de 2000, motivo por el cual se estableció esa como la fecha de inicio de los diez anos de término del arrendamiento, el cual concluye 30 de julio de 2010 |
4. | Que es voluntad del ARRENDADOR y del ARRENDATARIO celebrar el presente convenio modificatorio del Contrato de Arrendamiento, y que GE REAL ESTATE MEXICO, S. DE R.L. DE C.V. y PALL CORPORATION están de acuerdo en que se celebre la modificación de conformidad con el clausulado siguiente. |
5. | Que las personas que intervienen en el presente convenio modiflcatorio cuentan con Ia capacidad legal necesaria para representar a sus mandantes, y que dicha capacidad no les ha sido limitada de manera alguna. |
2. | That the term of the Lease Agreement is of ten (10) years. |
3 | That the Lense Commencement Date, as agreed by the contracting parties, was set to be July 31, 2000, reason for which the ten year term of the lease expires on July 30, 2010. |
4, | That it is the will of the LESSOR and the LESSEE to enter into this amendment agreement to the Lease Agreement, ard that GE REAL ESTATE MEXICO, S. DE R.L DE C.V. and PALL CORPORATION agree that the amendment be made in accordance with the following clauses. |
5. | That the individuals signing this amendment agreemeit have sufficient legal authority to represent their principals, and that such legal authority has not been limited in any way. |
Por / By: Fernando Silvestre Llamas Fierro | Por / By: Gabriel Leon Pena |
Por / By: Héctor M. Machado B. |
Por / By: Federico Rios Patron |
[GRAPHIC APPERS HERE] | [GRAPHIC APPERS HERE] |
Por / By: Roberto Perez | Por /By: Roger Roberts |
Nombre: | Nombre: |
1. | On February 21, 2000, BBVA BANCOMER SERVICIOS, S.A., in its capacity as Trustee of the “Submetrópoli de Tijuana” Trust and the LESSEE entered into a Lease Contract in relation to the industrial unit and ancillary improvements located at Calle Colinas 11730, Fraccionamiento Parque Industrial El Florido, Sección Colinas, Delegación La Presa, Tijuana, Baja California, Mexico. |
2. | Paragraph 6.2 of Clause Six of the lease contract mentioned in Statement 1 above, sets out the following exact wording: “6.2 The Lessee shall have the right to renew the Lease Terms for two consecutive periods of 5 years each. The Lessee shall exercise its right to extend the Lease Terms by written notice delivered to the Lessor at the domicile indicated in this contract at least six (6) months before expiration of the Lease Terms, or of the first renewal of five (5) years. In order to exercise its right to extend the contract, the Lessee must be in compliance with this contract.” |
3. | Several agreements have been entered into related to the lease contract mentioned in Statement 1 above. |
4. | The lease contract mentioned in Statement 1 above, as amended to date, shall hereinafter be referred to as the “Lease Contract.” |
5. | The LESSOR is the current holder of the rights and obligations as lessor under the Lease Contract and FC is the owner of the building being leased to the LESSEE in the Lease Contract. |
6. | Dr. Georgina Serrano Cuevas and Mr. José Luis Noriega Balcárcel declare under oath that they have sufficient powers to represent the LESSOR and FC in the signature of the present Agreement. |
7. | Mr. Héctor Machado Barraza, Engineer, states that he proves that he has sufficient powers to represent the LESSEE in the signature of the present Agreement with the documentation attached hereto as a copy in Annex “A.” |
8. | Mr. Robert Kuhbach and Mr. James Porreto state that they prove that they have sufficient powers to represent PALL CORPORATION in the signature of the present Agreement with the documentation attached hereto as a copy in Annex “B.” |
9. | The undersigned state that the power of attorney with which each of them is appearing in order to sign this Agreement has not been revoked or limited in any way. |
10. | Clause One of the Amending Agreement to the Lease Contract dated July 25 (twenty-five), 2008 (two thousand eight) was entered into with the following exact wording: “ONE. EXTENSION. The LESSOR and the LESSEE agree to extend the effective period of the Lease Contract until August 15, (fifteen), 2011 (two thousand eleven); that is to say, the Lease Contract shall remain in effect until August 15, (fifteen), 2011 (two thousand eleven), unless the LESSEE exercises its right of extension granted under paragraph 6.2 of the Lease Contract, or the said contract is rescinded or terminated early in the terms thereunder.” |
11. | Prior to the signature of this instrument and in accordance with paragraph 6.2 of Clause Six of the Lease Contract and Clause One of the Amending Agreement to the Lease Contract dated July 25, (twenty-five), 2008 (two thousand eight), the LESSEE informed the LESSOR of its intention to exercise the first renewal period of the Lease Terms. |
12. | The parties to this Agreement state that they have agreed to extend the effective period of the Lease Contract in accordance with the terms and conditions set out herein. |
Pall Mexico Manufacturing, S. de R.L. de C.V. Calle Colinas 11730, Fraccionamiento Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, Tijuana, Baja California, Mexico | ||
Atencion/Attention: Lic. Leobardo Tenorio Malof | ||
Estimado/Dear Lic. Tenorio: | ||
En nombre y representacion de PROCADEF 1 SAP.I. de C.V. ("PROCADEF") y de FC2010, S.A. de C.V. ("FC"), senalando ambas sociedades como domicilio para oir y recibir todo tipo de notificaciones el ubicado en Paseo de los Heroes 9188, Piso 5, Zona Urbana Rio Tijuana, en Tijuana, Baja California, Mexico, por medio de la presente hacemos constar lo siguiente: | On behaIf of PROCADEF 1 S.A.P.I. de C.V. ("PROCADEF") and FC2010, S,A. de C.V. ("FC"), stating as their domicile to hear and receive all types of notices the one located at Paseo de los Heroes 9188, Piso 5, Zona Urbana Rio Tijuana, in Tijuana, Baja California, Mexico, we hereby would like to confirm the following: | |
En relation con la nave industrial y mejoras accesorias ubicadas en Calle Colinas 11730, del Fraccionamiento Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, en Tijuana, Baja California, Mexico (el "Inmueble"), la cual es objeto de cierto Contrato de Arrendamiento de fecha 21 de febrero del ano 2000, FC en su caracter de nudo propietario del Inmueble, y PROCADEF en su caracter de actual arrendador bajo el mismo, de conformidad con el articulo 2321 y demas disposiciones aplicables del Codigo Civil de Baja California, en este acto otorgamos a favor de Pall Mexico Manufacturing, S. de R,L. de C.V., sus filiales y subsidiarias (en conjunto "Pall"), el derecho del tanto para adquirir el Inmueble en caso de que se desee vender el Inmueble a cualquier tercero. | With regard to the industrial building and improvements located at Calle Colinas 11730, in Fraccionamiento Parque Industrial EI Florido, Seccion Colinas, Delegacion La Presa, in Tijuana, Baja California, Mexico (the "Real Property"), which is the subject matter of certain Lease Agreement dated February 21, 2000, FC, as the legitimate owner of the Real Property, and PROCADEF, as the current lessor thereunder, in accordance with articles 2321 and other applicable of the Civil Code for the State of Baja California, hereby grant to Pall Mexico Manufacturing, S. de R.L, de C.V., its affiliates and subsidiaries (jointly "Pall"), the preferential right to acquire the Real Property in the event that it is decided to sell it to any third party. | |
Pall, FC y PROCADEF acuerdan que dicho derecho del tanto estara en vigor durante todo el tiempo en que: (i) se encuentre en vigor el contrato de arrendamiento del Inmueble (el | Pall, FC and PROCADEF agree that such preferential right will be in force during all of the time that: (i) the lease agreement for the Real Property (the "Agreement") entered currently with |
"Contrato") celebrado actualmente con ENSATEC, S.A. de C.V., como arrendatario, y Pall Corporation como garante, y (ii) durante todo el tiempo en que Pall, Pall Corporation, o una empresa filial o subsidiaria de Pall Corporation sea parte en eI Contrato como arrendatario o garante. | ENSATEC, S.A. de C.V., as lessee, and Pall Corporation, as guarantor, is in force, and (ii) during all of the time that Pall, Pall Corporation and any affiliate or subsidiary of Pall Corporation is a party in the Agreement as lessee or guarantor. | |
No obstante lo anterior, Pall y FC en este acto acuerdan que FC o podra libremente transmitir la propiedad del Inmueble a cualquiera de las personas que se enlistan a continuacion, sin necesidad de otorgar dicho derecho del tanto a favor de Pall siempre que eI nuevo propietario otorgue a favor de Pall el derecho del tanto para adquirir el Inmueble en los mismos terminos que los aqui establecidos simultaneamente al momento de adquisicion del Inmueble. Las personas a las que FC podra transmitir libremente la propiedad del Inmueble son: (i) PROCADEF; (ii) cualquier persona fisica o moral que sea accionista de la sociedad denominada EL FLORIDO CALIFORNIA, S.A, DE C.V.; (iii) cualquier persona fisica o moral que sea accionista de los accionistas de la sociedad denominada EL FLORIDO CALIFORNIA, S.A. DE C.V.; (iv) cualquier sociedad en la que EL FLORIDO CALIFORNIA, S.A. DE C.V. sea socio o accionista; (v) cualquier sociedad en la que cualquiera de los accionistas de la sociedad denominada EL FLORIDO CALIFORNIA, S.A, DE C.V. sean accionistas o socios; y (vi) cualquier sociedad en la que cualquiera de los accionistas de los accionistas de la sociedad denominada EL FLORIDO CALIFORNIA, S.A. DE C.V. sean socios o accionistas. Asimismo queda convenido y acordado por Pall, que cualesquiera de las personas anteriormente enlistadas y sus sucesores podran a su vez transmitir libremente la propiedad del Inmueble a cualesquiera de la personas anteriormente enlistadas, sin necesidad de otorgar dicho derecho del tanto a favor de Pall siempre que el nuevo propietario del Inmueble otorgue a favor de Pall el derecho del tanto para adquirir el Inmueble en los mismos terminos que | Notwithstanding the foregoing, Pall and FC hereby agree that FC may transfer the ownership of the Real Property to any of the persons listed below without the need of granting such preferential right in favor of Pall if the new owner grants in favor of Pall the preferential right to acquire the Real Property in the same terms that the ones provided herein simultaneously at the time of acquisition the Real Property. The persons to whom FC may freely transfer ownership to such Real Property are: (i) PROCADEF; (ii) any individual or entity that is shareholder of EL FLORIDO CALIFORNIA, S.A. DE C.V.; (iii) any individual or entity that is shareholder of any shareholder of EL FLORIDO CALIFORNIA, S.A, DE C.V.; (iv) any company on which EL FLORIDO CALIFORNIA, S.A. DE C.V. is a partner or shareholder; (v) any company on which any of the shareholders of EL FLORIDO CALIFORNIA, S.A. DE C.V. is a shareholder or partner; and (vi) any company on which any of the shareholders of the shareholders of EL FLORIDO CALIFORNIA, S.A, DE C.V. are partners or shareholders. Likewise, it is agreed by Pall that any of the above listed persons and entities and their successors may freely transfer ownership to the Real Property to any of the above listed persons and entities, without the need of granting such preferential right in favor of Pall if the new owner grants in favor of Pall the preferential right to acquire the Real Property in the same terms that the ones provided herein simultaneously at the time of acquisition the Real Property |
Atentamente/Truly yours, | ||
(Graphics appears hear) | (Graphics appears hear) | |
Dr .Georgina Serrano Cuevas Representante legal de Legal Agent of PROCADEF 1, S.A.P.I de C.V. | Lic. Jose Luis Noriega Balcarcel Representante legal de Legal Agent of PROCADEF 1, S.A.P.I de. C.V. |
(Graphics appears hear) | (Graphics appears hear) | |
Dra .Georgina Serrano Cuevas Representante legal de Legal Agent of FC2010,S.A. DE C.V. | Lic. Jose Luis Noriega Balcarcel Representante legal de Legal Agent of FC2010,S.A. de C.V. |
Acepto de conformidad: | ||
(Graphics appears hear) | ||
Lic. Leobardo Tenorio Malof Representante legal de Legal Agent of Pall Mexico Manufacturing , S.de R.L. de C.V. |
I. | Que de conformidad con la Clausula Quinta del Convenio Ensateç S.A. de C.V. con fecha efectiva del 23 de febrero de 2O12, cedio todos y cada uno de sus derechos a favor de Pall Mexico Manufacturing, S. de R.L. de C.V. |
II. | Que en lo relacionado con la Clausula Octava del Convenio, Ensatec, S.A. de C.V. señala como su domicilio para oir y recibir toda clase de notiflcaciones y avisos el ubicado en; Blvd. Agua Caliente 10470, Desp #1, Centro Comercial Barranquitas, Col. Revolución, Tijuana, B.C. Mexico 22015. |
[Graphic appears here] Lic. Leobardo Tenorio Malof | [Graphic appears here] Ing. Hector machado Barraza |
- | regarding the Lessee’s possession of all legal requirements necessary to conduct its business, including in relation to health, workplace hygiene, tax and social security matters; |
- | for injuries or damages that may occur to any person in accessing the leased premises/portion of the real property leased and/or remaining therein. |
THE LESSOR Tempera Infissi Srl [stamp:] TEMPERA INFISSI Srl WOODEN DOORS AND WINDOWS FACTORY ZONA INDUSTRIALE CAMPOLUNGO 63100 ASCOLI PICENO C.C.I.A.A. 122340 - Tax ID no. 01241950441 [signature] | THE LESSEE Pall Italia Srl [signature] [signature] __________________________ |
(i) | “Expenses” shall mean and include all reasonable expenses, costs, fees and disbursements paid or incurred by or on behalf of the Landlord for owning, managing, operating, maintaining and repairing the “Real Property’ (hereinafter defined) and the personal property used in conjunction therewith (said Real Property and personally being herein collectively called the “Project”), including (without limitation): the cost of electricity, steam, water, gas, fuel, heating, lighting, air conditioning; window cleaning; insurance, including but not limited to, fire, extended coverage, liability, workmen’s compensation, elevator, or any other insurance carried by the Landlord and applicable to the Project; painting; uniforms; management fees, not to exceed 3% of gross rents per year; costs of maintaining an on-site management office; supplies, sundries, sales or use taxes on supplies or services; cost of wages and salaries of all persons engaged in the operation, administration, maintenance and repair of the Project; and fringe benefits, including social security taxes, unemployment insurance taxes, cost for providing coverage for disability benefits, cost of any pensions, hospitalization. welfare or retirement plans, or any other similar or like expenses incurred under the provisions of any collective bargaining agreement, or any other cost or expense which Landlord pays or incurs to provide benefits for on-site employees so engaged in the operation, administration, maintenance, management and repair of the Project; the charges of any independent contractor who, under contract with the Landlord or its representatives, does any of the work of operating, maintaining or repairing of the Project; legal and accounting expenses, including, but not to be limited to, such expenses as relate to seeking or obtaining reductions in and refunds of real estate taxes; any costs or expenses allocated to the Project under easement agreements, service or operating agreements. declarations, covenants or other instruments providing for sharing of facilities or payment for services; or any other expense or charge, whether or not hereinbefore mentioned, which would be considered as an expense of owning. managing, operating, maintaining or repairing the Project. Expenses shall not include costs or other items included within the meaning of the term “Taxes” (as hereinafter defined), those items set forth in Exhibit “F”’ attached hereto, costs of alterations of the premises of tenants of the Building, costs of capital improvements to the Real Property, depreciation charges, interest and principal payments on mortgages, ground rental payments, and real estate brokerage and leasing commissions, except as hereinafter otherwise provided, notwithstanding anything contained in this clause (i) of Section 2(a) to the contrary: |
(ii) | “Taxes” shall mean real estate taxes, assessments (whether they be general or |
(iii) | “Rentab1e Area of the Building” shall be deemed to be 310,983 square feet. If, during the Term of this lease, the actual Rentable Area of the Buildings increased or decreased as a result of adding space to the Building or removing space from the Building, Landlord may change the Rentable Area of the Building and Tenant’s Proportionate Share by written notice to Tenant. |
(iv) | “Rentable Area of the Premises” is stipulated by the parties to be 16,748 square feet. |
(v) | “Tenant’s Proportionate Share” shall mean 5.3% which is the percentage obtained by dividing the Rentable Area of the Premises by the Rentable Area of the Building. |
(vi) | “Additional Rent” shall mean Tenant’s Proportionate Share of Taxes and Expenses. |
(i) | Landlord may, prior to each Adjustment Date or from time to time during the year, deliver to Tenant a written notice or notices (“Projection Notice”) setting forth (A) Landlord’s reasonable estimates, forecasts or projections (collectively, the “Projections”) of Taxes and Expenses with respect to such year, and (B) Tenant’s Proportionate Share of Taxes and Expenses with respect to such year based upon the Projections. |
(ii) | Until such time as Landlord furnishes a Projection Notice with respect to any year, Tenant shall pay to Landlord a monthly installment of Additional Rent (at the time of and together with each payment of Monthly Base Rent) equal to the latest monthly installment of Additional Rent. On or before the first day of the next calendar month following Landlord’s service of a Projection Notice, and on or before the first day of each month thereafter, Tenant shall pay to Landlord one-twelfth (1/12) of Tenant’s Proportionate Share of Taxes and Expenses shown in the Projection Notice. Within fifteen (15) days following Landlord’s service of a Projection Notice, Tenant shall also pay Landlord a lump sum equal to the monthly Tenant’s Proportionate Share of Taxes and Expenses shown in the Projection Notice for January to and including the month(s) in which the Projection Notice was sent (the “Gap Period”) less the sum of any previous |
(i) | Landlord may terminate this lease and the Term created hereby, in which event Landlord may forthwith repossess the Premises and be entitled to recover forthwith as damages a sum of money equal to the value of the Rent provided to be paid by Tenant for the balance of the original Term, less the rental value of the Premises for said period (“Rental Value”), and plus any other sum of money and damages owed by Tenant to Landlord. Should the Rental Value exceed the value of the Rent provided to be paid by Tenant for the balance of the original Term of the lease, Landlord shall have no obligation to pay to Tenant the excess or any part thereof. |
(ii) | Landlord may terminate Tenant’s right of possession and may repossess the Premises by forcible entry and detainer suit, by taking peaceful possession or otherwise, without terminating this lease, in which event Landlord may, but shall be under no obligation to, relet the same for the account of Tenant, for such rent and upon such terms as shall be satisfactory to Landlord. For the purpose of such reletting, Landlord is authorized to decorate or to make any repairs. If Landlord shall fail to relet the Premises, Tenant shall pay to Landlord as damages a sum equal to the amount of the Rent reserved in this lease for the balance of its original Term. If the Premises are relet and a sufficient sum shall not be realized from such reletting after paying all of the costs and expenses of such decorations, |
17. | Subordination. |
Lease Year/Period . | Rentable Square Footage | Base Rent per. Rentable sq. ft. | Annual Base Rent | Monthly Base Rent |
Year I | $ | $120,000.00 | 10.000.00 | |
Year 2 | $ | $123,000.00 | $10,250.00 | |
Year 3 | $ | $126,075.00 | $10,506.25 | |
Year4 | $ | $129,227.00 | $10,768.90 | |
Year5 | $132,458.00 | $11,038.13 | ||
1. | Except with the prior written consent of Landlord, no tenant shall conduct an retail sales in or from the Premises, or any business other than that specifically provided for in the Lease. |
2. | Landlord reserves the right to prohibit personal goods and services vendors from access to the Building except upon such reasonable terms and conditions, including but not limited to a provision for insurance coverage, as are related to the safety, care and cleanliness of the Building, the preservation of good order thereon, and the relief of any financial or other burden on Landlord occasioned by the presence of such vendors or the sale by them of personal goods or services to a tenant or its employees. If reasonably necessary for the accomplishment of these purposes, Landlord may exclude a particular vendor entirely or limit the number of vendors who may be present at any one time in the Building. The term “personal goods or services vendors” means persons who periodically enter the Building of which the Premises are a part for the purpose of selling goods or services to a tenant, other than goods or services which are used by a tenant only for the purpose of conducting its business on the Premises. “Personal goods or services” include, but are not limited to, drinking water and other beverages, food, barbering services, and shoeshining services. |
3. | The sidewalks, halls, passages, and stairways shall not be obstructed by any tenant or used by it, its employees. invitees, and any visitors for any purpose other than for ingress to and egress from their respective premises. Tenant shall not and shall not permit its employees, invitees, and any visitors to loiter or wait for transportation in the halls passages, entrances, stairways, sidewalks or any other area in or around the Building, except those areas, if any, which may be specifically designated by Landlord. The halls, passages, entrances, stairways, janitorial closets, if any, and roof are not for the use of the general public, and Landlord shall in all cases retain the right to control and prevent access thereto of all persons whose presence in the judgment of Landlord shall he prejudicial to the safety, character reputation and interests of the Building and its tenants, provided that nothing herein contained shall he construed to prevent such access to persons with whom Tenant normally deals only for the purpose of’ conducting its business on the Premises (such as clients, customers, office suppliers and equipment vendors, and the like) unless such persons are engaged in illegal activities. No tenant arid no employees of any tenant shall go upon the roof of the Building without the written consent of Landlord. |
4. | The sashes, sash doors, windows, glass lights, and any lights or skylights that reflect or admit light into the halls or other places of the Building shall not be covered or obstructed. The toilet rooms, water and wash closets and other water apparatus shall not he used for any purpose other than that for which they were constructed, and no foreign substance of any kind whatsoever shall be thrown therein, and the expense of any breakage, stoppage or damage, resulting from the violation of this rule shall be borne by the tenant who, or whose clerks, agents, employees, or visitors, shall have caused it. |
5. | No sign, advertisement or notice visible from the exterior of the Premises or Building shall be |
6. | In order to maintain the outward professional appearance of the Building, all window coverings to be installed at the Premises shall be subject to Landlords prior reasonable approval. If Landlord, by a notice in writing to Tenant, shall object to any curtain, blind, shade or screen attached to, or hung in, or used in connection with, any window or door of the Premises, such use of such curtain, blind, shade or screen shall be forthwith discontinued by Tenant. No awnings shall be permitted on any part of the Premises. |
7. | Tenant shall not do or permit anything to be done in the Premises, or bring or keep anything therein, which shall in any way increase the rate of fire insurance on the Building, or on the property kept therein, or obstruct or interfere with the rights of other tenants, or in any way injure or annoy them; or conflict with the regulations of the Fire Department or the fire laws, or with any insurance policy upon the Building, or any part thereof, or with any rules and ordinances established by the Board of Health or other governmental authority. |
8. | Except as approved by Landlord, no safes or other large objects shall be brought into or installed in that portion of’ the Premises intended to be used for general office purposes. Landlord shall have the power te prescribe the weight, method of installation and position of such safes or other objects. The moving of safes shall occur only between such hours as may be designated by, and only upon previous notice to, the manager of the Building, and the persons employed to move safes in or out of the Building must be acceptable to Landlord. No freight, furniture or bulky matter of any description shall be received into the Building, excluding warehouse space, except during hours and in a manner approved by Landlord. |
9. | No tenant shall sweep or throw or permit to be swept or thrown from the Premises any dirt or other substance into any of the corridors or halls, or out of the doors or windows or stairways of the Building, and Tenant shall not use, keep or permit to be used or kept any foul or noxious gas or substance in the Premises, or permit or suffer the Premises to be occupied or used in a manner offensive or objectionable to Landlord or other occupants of the Building by reason of noise, odors and/or vibrations, or interfere in any way with other tenants or those having business therein, nor shall any animals or birds be kept in or about the Building. Smoking or carrying lighted cigars or cigarettes in the elevators of the Building is prohibited. |
10. | Except for the use of’ microwave ovens and coffee makers and a toaster oven for Tenant’s personal use, no cooking shall he done or permitted by Tenant on the Premises, nor shall the Building be used for lodging. |
11. | Tenant shall not use or keep in the Building any kerosene, gasoline, or inflammable fluid or any other illuminating material, or use any method of heating other than that supplied by Landlord. |
12. | If Tenant desires telephone or telegraph connections, Landlord will direct electricians as to where and how the wires are to be introduced. No boring or cutting for wires or other otherwise shall be |
13. | Each tenant, upon the termination of its tenancy, shall deliver to Landlord all the keys of offices, rooms and toilet rooms, and security access card/keys which shall have been furnished such tenant or which such tenant shall have had made, and in the event of loss of any keys so furnished, shall pay Landlord therefor. |
14. | No tenant shall lay linoleum or other similar floor covering so that the same shall be affixed to the floor of the Premises in any manner except by a paste, or other material which may easily be removed with water, the use of cement or other similar adhesive materials being expressly prohibited. The method of affixing any such linoleum or other similar floor covering to the floor, as well as the method of affixing carpets or rugs to the Premises shall be subject to reasonable approval by Landlord. The expense of repairing any damage resulting from a violation of this rule shall be borne by Tenant by whom, or by those agents, clerks, employees or visitors, the damage shall have been caused. |
15. | No furniture, packages or merchandise will be received in the Building, except between such Building hours as shall be designated by Landlord. |
16. | Landlord shall in no case be Liable for damages for the admission to or exclusion from the Building of any person whom Landlord has the right to exclude under Rule 3 above, In case of invasion, mob, riot, public, excitement, or other commotion, Landlord reserves the right but shall not be obligated to prevent access to the Building during the continuance of the same by closing the doors or otherwise, for the safety of the tenants and protection of property in the Building. |
17. | Tenant shall be responsible for securing the Premises and in accordance therewith shall see that the windows and doors of’ the Premises are closed and securely locked before leaving the Building and Tenant shall exercise extraordinary’ care and caution that all water faucets or water apparatus are entirely shut off before Tenant or Tenant’s employees leave the Building, and that Tenant shall be responsible for maintaining a temperature within the Premises at all times as to prevent waste or damage of the fire safety, plumbing and mechanical systems servicing the Premises, and for any default or carelessness Tenant shall make good all injuries sustained by other tenants or occupants of the Building or Landlord. |
18. | Tenant shall not alter, or allow to be altered, any lock or install a new or additional lock or any bolt on any door of’ the Premises without prior written consent of Landlord. If Landlord shall give its consent, Tenant shall in each case furnish Landlord with a key for any such lock. |
19. | Tenant shall not install equipment, such as but not limited to electronic tabulating or computer equipment, requiring electrical or air conditioning service in excess of those to be provided by Landlord under the Lease. |
20. | No shopping cart, or other vehicle or any animal with the exception of’ humans or fish shall be brought into the Premises or the halls, corridors, elevators or any part of the Building by Tenant. |
21. | Landlord shall have the right to prohibit the use of the name of the Building or Project or any other publicity by Tenant which in Landlord’s opinion tends to impair the reputation of the Building or Project or their desirability for other tenants, and upon written notice from Landlord, ‘Tenant will refrain from or discontinue such publicity. |
22. | Tenant shall not erect any aerial or antenna on the roof or exterior walls of the Premises, Building, or Project without the prior written consent of Landlord. |
23. | The Tenant shall not install in the Premises any equipment which uses an excessive amount of electricity without the advance written consent of the Landlord. The Tenant shall ascertain from the Landlord the maximum amount of electrical current which can safely be used in the Premises taking into account the capacity of electric wiring in the Building and the Premises and the needs of other tenants in the Building and shall not use more than such safe capacity. The Landlord’s consent to the installation of electric equipment shall not relieve the Tenant from the obligation not to use more electricity than such safe capacity. |
24. | The following rules and regulations govern the parking and the use of the parking areas on the Project and shall not be deemed to expand any parking rights or privileges granted or restrictions thereon contained in this Lease. These parking rules and regulations shall apply to any and all vehicles owned, leased or rented by Tenant, its employees, agents, representatives, invitees, customers, contractors, servicemen and deliverymen. Tenant shall be, responsible for compliance with the following rules and regulations by any and all of its employees, agents, representatives, invitees, customers, contractors, servicemen and deliverymen. |
25. | Landlord retains the right to designate the entrance and exit locations to be used by the tenant and their staff and employees during the regular business day. |
i | Ground rental payments, interest and principal payments on mortgages, and other costs for borrowed funds, if any: |
ii. | Depreciation charges; |
iii. | Expenses incurred in leasing or procuring new tenants, such as real estate brokers’ leasing commissions (including all renewal leasing commissions or compensation, fees of counsel, costs of maintaining a leasing office and advertising and promotional expenses with respect thereto; |
iv. | To the extent covered by insurance, expenses for repairs or other work occasioned by: (a) fire, wind storm or other casualty, or (b) the exercise of the right of eminent domain, or (c) the negligence of Landlord; |
v. | Court cost, fees of counsel and any other ancillary expenses incurred in connection with any other lease, license, or concession agreement; |
vi. | Any amount payable by Landlord to any tenant by reason of Landlord’s default in obligations to such tenant or as damages, reimbursement or indemnity to any person because of any act or omission of Landlord or its agents; |
vii. | Renovating or otherwise improving or decorating, painting or redecorating any leaseable space in the Building other than ordinary maintenance supplied to all tenants equally and other than to common areas; |
viii. | Landlord’s cost of electricity or other utilities which are provided without cost to certain tenants of the Building and not supplied to all tenants of the Building or which are sold separately to tenants of the Building and for which Landlord is entitled to be reimbursed; |
ix. | Costs due to violation by Landlord or its agent of the terms and conditions of any lease or debt instrument. |
x. | Overhead and profit paid to Landlord or to subsidiaries or affiliates of Landlord for services on or to the Building to the extent that fees paid for such services exceed competitive costs of such services. |
xi. | Any expense associated with the operation of Landlord’s business entity or interest therein as distinguished from the cost and operation of the Building. |
xii. | Compensation paid to clerks, attendants or other personnel in commercial concessions. |
xiii. | Any cost or expense incurred in connection with the treatment, encapsulation or removal of currently existing asbestos, PCBs or other hazardous materials that are in violation of applicable law. |
xiv. | Any expense for which Landlord is compensated by proceeds through insurance or warranties. |
xv. | Any cost or expense incurred in connection with leasing or improving vacant space at the Project, and utilities consumed by such vacant space |
E. | Subsection 2.01(a) of Exhibit “D” is deleted and replaced by the following “Prior to the delivery of the Premises to Tenant, Landlord shall substantially complete the work described in Exhibit “E” (referred to as “Landlord’s Work”), at Landlord’s expense, except that Tenant shall pay Landlord as Tenant’s contribution toward the cost of such work the sum of Fifty Thousand Dollars ($50,000,00) upon execution of this Amendment and an additional Fifty Thousand Dollars ($50,000.00) within 30.. days of commencement of Landlord’s Work. Any changes to the Landlord’s Work requested by Tenant shall be subject to Landlord approval, and if approved, Tenant shall pay the cost of such changes, and any delays resulting from such changes shall not operate to extend the Commencement Date. Except for acts of Tenant, Tenant shall not be responsible for any increases in the cost of Landlord’s Work.” |
F. | In Subsection 2.0 1(b) and Section 2.06 of Exhibit “D” delete “July 15, 2004” each place it appears and replace with “60 days after commencement of work”. Landlord makes no warranties as to whether the 60 days delivery can be achieved, and shall not be obligated to use double shifts, overtime or other extraordinary measures to achieve such date. However, if Landlord is unable to complete Landlord’s work by 60 days after commencement of work, Landlord will, subject to the requirements of Landlord’s contractor and the Village of Niles, allow Tenant to occupy such portions of the Premises as Landlord’s contractor may designate, provided, Tenant shall not interfere with or delay the completion of Landlord’s Work and neither Landlord nor its contractor shall be responsible for any loss, damage or injury to person or property within the Premises during such construction; all such risk being assumed by Tenant. During such occupancy. all provisions of the Lease shall apply except that Base Rent shall not commence until the Commencement Date. |
Lease Year/Period | Rentable Square Footage | Base Rent per. Rentable sq. ft. | Annual Base Rent | Monthly Base Rent | ||||
Year 1 | ||||||||
16,478 | 7.28 | $120,000.00 | $10,000.00 | |||||
Year 2 | 16.748 | 7.34 | $123,000.00 | $10,250.00 | ||||
Year 3 | 16,748 | 7.53 | $126,075.00 | $10,506.25 | ||||
Year 4 | 16,748 | 7.72 | $129,226.88 | $10,768.91 | ||||
Year 5 | 16.748 | 7,91 | $132,457.55 | $11,038.13 | ||||
Year 6 | 16,748 | 8.11 | $135,768.99 | $11,314.08 | ||||
Year 7 | 16.748 | 8.31 | $l39,163.21 | $11,596.93 |
Time Period | Annual Base Rent | Monthly Base Rent |
7.1.07 – 7.31.07 | $153,822.84 | $12,818.57 |
8.1.07 – 7.31.08 | $157,704.16 | $13,142.01 |
8.1.08 – 7.31.09 | $161,585.48 | $13,465.46 |
8.1.09 – 7.31.10 | $165,671.08 | $13,805.92 |
8.1.10 – 7.31.11 | $169,756.68 | $14,146.39 |
Haemoscope Corporation | 6231, West Howard Street | Niles, IL 60714 | info@haemoscope.com |
FAX | Date: March 7, 2006 |
Number of pages including cover sheet: 4 |
To: | From: | |||||
Michael Lee | Deborah Weishaar | |||||
For Margalit Tocher | ||||||
Ph. 312-207-6514 | Ph. 847-588-.453/800-438-2834 | |||||
Fax 312-207-6400 | Fax 847-588-0455 | |||||
CC: | ||||||
REMARKS | Ë | Urgent | È | For your review | Ë | Reply ASAP | Ë | Please comment |
ACTIVITY REPORT |
DATE | TIME | FAX NO./NAME | DURATION | PAGE (S) | RESULT | COMMENT | |
03/06 | 15:40 | 6308983166 | 40 | 1 | OK | RX | ECM |
03/06 | 16:27 | 866-216-5303 | 55 | 1 | OK | RX | ECM |
03/06 | 17:30 | 18176565305 | 03:02 | 9 | OK | TX | |
03/06 | 18:33 | 206 598 6159 | 01:36 | 3 | OK | RX | ECM |
03/06 | 19:32 | 01:25 | 1 | OK | RX | ECM | |
03/06 | 19:35 | 01:37 | 0 | NG | RX | ||
03/06 | 23:14 | 6567858005 | 01:26 | 1 | OK | RX | |
03/07 | 09:33 | 847 671 5950 | 36 | 1 | OK | RX | ECM |
03/07 | 09:38 | 18476715950 | 28 | 1 | OK | TX | ECM |
03/07 | 09:40 | 5173464796 | 38 | 1 | OK | RX | ECM |
03/07 | 09:41 | 5173464796 | 39 | 1 | OK | RX | ECM |
03/07 | 09:49 | BHCS F | 01:16 | 2 | OK | RX | |
03/07 | 10:06 | 116567858005 | 52 | 2 | OK | TX | ECM |
03/07 | 10:33 | 01:16 | 4 | OK | RX | ECM | |
03/07 | 10:51 | 07:29 | 6 | OK | RX | ||
03/07 | 11:21 | LAWSONFAXSVR | 01:50 | 3 | OK | TX | |
03/07 | 11:55 | +3042432971 | 39 | 2 | OK | RX | ECM |
03/07 | 12:18 | 5083348021 | 02:02 | 6 | OK | RX | ECM |
03/07 | 12:30 | 46 | 1 | OK | RX | ECM | |
03/07 | 12:37 | 15083348021 | 38 | 2 | OK | TX | ECM |
03/07 | 12:38 | 18176565305 | 50 | 2 | OK | TX | |
03/07 | 12:40 | 48 | 2 | OK | RX | ||
03/07 | 12:52 | 913 588 7239 | 01:39 | 4 | OK | RX | ECM |
03/07 | 13:17 | 0 | 01:21 | 2 | OK | RX | ECM |
03/07 | 13:30 | 01:14 | 1 | OK | RX | ECM | |
03/07 | 13:32 | LAWSONFAXSVR | 01:51 | 3 | OK | RX | |
03/07 | 13:54 | 02:12 | 2 | OK | RX | ECM | |
03/07 | 14:23 | 13122076400 | 01:42 | 4 | OK | TX | |
03/07 | 14:57 | S H C | 01:17 | 2 | OK | RX | |
03/07 | 15:03 | 17082838607 | 07:04 | 15 | OK | TX | ECM |
TRANSMISSION VERIFICATION REPORT |
DATE, TIME | 08/28 11:19 |
FAX NO. / NAME | 18475100453 |
PAGE (S) | 00:01:45 |
5 | |
RESULT | OK |
MODE | STANDARD ECM |
Time Period | Annual Base Rent | Monthly Base Rent |
Effective Date – 7/31/08 | $129,294.56 | $10,774.55 |
8/1/08 – 7/31/09 | $132,476.68 | $11,039.72 |
8/1/09 – 7/31/10 | $135,826.28 | $11,318.86 |
8/1/10 – 7/31/11 | $139,175.88 | $11,597.99 |
Time Period | Annual Base Rent | Monthly Base Rent |
8/1/10 —2/28/11 | $139,175.88 | $11,597.99 |
3/1/2011 | $142,358.00 | $11,863.17” |
By: | Cabot Industrial Value Fund II Operating Partnership, L.P., a Delaware limited partnership, its sole member |
A) | That she acquired being married under separate property regime, and she is the title holder of plot number 7, block 930 of Parque Industrial El Florido, Seccion Colinas, in Tijuana, Baja California, with a surface area of 11,092.22 square meters, as established in public deed number 40,888, issued by Mr. Ricardo del Monte Nunez, Notary Public No. 8, in and for this city, duly registered in the Public Registry of Property and Commerce, of the city of Tijuana, B.C., under file number 5203904, Civil Section, on January 12, 2001. |
B) | That in the aforementioned plot, she built, on her own account, a building for light industrial manufacturing and warehousing, with a surface area of 62,000.00 square feet, same that has a production and/or warehousing area, offices, snack bar, men and woman's rest rooms and 52 (fifty two) parking spaces. The address of said real property is that located at Calle Colinas No. 11730, Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, Tijuana, B.C. 22680. |
C) | That it is her wish to give in lease, the lot and the construction which is referred to in paragraphs A) and B) of these recitals, hereinafter referred as the LEASED PREMISES. The LEASED PREMISES are described in the plot plan attached hereto as Exhibit 1. |
D) | That the LEASED PREMISES shall be destined for the industrial use needed by PALL, by this, the light manufacturing and warehousing of products. The LEASED PREMISES has within its boundaries the infrastructure services of water, sewage, electric energy and telephone. |
A) | That he/she has the necessary faculties to execute the present agreement on behalf of PALL. |
B) | That it is a corporation legally incorporated according to the laws of the Mexican Republic, with the legal capacity to execute this Agreement, as established in Public Instrument Number 20,262, dated October 25, 2006, executed before Mr. Juan Jose Thomas Moreno, Notary Public Numer 7 for the State of Baja California, same that is duly recorded in the Public Registry of Property and Commerce of Tijuana, B.C. |
C) | That it is PALL's best interests to formalize this Agreement. |
D) | That he/she has inspected the LEASED PREMISES on behalf of PALL, and is interested in leasing said premises under the terms of this agreement. |
WITNESS | WITNESS [GRAPHIC APPEARS HERE] |
MR. MANUEL F. PASERO | [GRAPHIC APPEARS HERE] |
1 | PLOT PLAN |
2 | REGULATIONS OF INDUSTRIAL PARK |
3 | PHASE I STUDY |
Ruben Guilloty Arvelo, en nombre y representacion de Pall Life Sciences Mexico, S. de R.L. de C.V. (“Pall”), y, Leobardo Tenorio Malof en nombre y representacion de Pall Mexico Manufacturing, S. de R.L. de C.V. (“Pall Mexico”), por medio de la presente exponemos y acordamos lo siguiente: | Ruben Guilloty Arvelo, on behalf of Pall Life Sciences Mexico, S, de R.L. de C.V. (“Pall”), and Leobardo Tenorio Malof, on behalf of Pall Mexico Manufacturing, S. de R.L. de C.V, (“Pall Mexico”), hereby declare and agree to the following: |
De conformidad con lo establecido en la Clausula Decima Primera del Contrato de Arrendamiento (el “Contrato”) que celebro Pall con la senora Blanca Estela Colunga Santelices (la “Arrendadora”) el 3 de diciembre del 2007 en relacion con el inmueble industrial con domicilio en Calle Colinas No. 11731, Parque Industrial el Florido, Seccion Colinas, Delegacion La Presa, en Tijuana, Baja California, Mexico, 22680 (el “Inmueble”), a partir del dia de hoy, 2 de diciembre del 2011, Pall cede a favor de Pall Mexico todos sus derechos y obligaciones en el Contrato (la “Cesion”). | In accordance with Clause Eleventh of the Lease Agreement (the “Agreement”) that Pall entered with Mrs. Blanca Esteia Colunga Santelices (the “Lessor”) on December 3rd 2007 regarding the industrial building located in Calle Colinas No. 11731, Parque Industrial el Florido, Seccion Colinas, Delegacion La Presa, in Tijuana, Baja California, Mexico, 22680 (the “Real Property”), as of today, December 2, 2011, Pall assigns in favor of Pall Mexico all of its rights and obligations in the Agreement (the “Assignment”). |
Lo anterior de conformidad con la notification que fe fue entregada a la Arrendadora y que recibio de conformidad el 2 de diciembre del 2011. Una copia de dicha notificacion que contiene la aceptacion por la Arrendadora a la Cesion del Contrato a favor Pall Mexico se adjunta al presente como Anexo “A”. | The above in accordance with the notice that was delivered to Lessor, and to which Lessor agreed to on December 2, 2011, Pall assigns in favor of Pall Mexico all of. A copy of the notice containing the acknowledgment by Lessor to the assignment of the Agreement in favor of Pall Mexico is enclosed as Exhibit “A”. |
En virtud de la Cesion, Pall Mexico, en su caracter de nuevo arrendatario del Inmueble, libera a partir del 2 de diciembre del 2011 a Pall de cualesquier obligacion que se derive del Contrato o del arrendamiento del Inmueble, por lo que le otorga a Pall en | In view of Assignment, Pall Mexico, in its capacity of new lessee of the Real Property, liberates and frees Pall as of December 2, 2011 of any obligation deriving from the Agreement or from the leasing of the Real Property, hereby granting in favor of Pall the |
este acto el finiquito mas amplio que en derecho proceda sin reservarse derecho alguno en su contra. | most ample waiver awarded by Law without reserving any right whatsoever against same. |
De conformidad con lo anterior, los representantes de Pall y Pall Mexico plasman sus respectivas firmas el 2 de diciembre del 2011. | In accordance with the above, the legal agents of Pall and Pall Mexico sign this document on December 2, 2011. |
Pall Life Sciences Mexico, S. de R.L. de C.V. | Pall Mexico Manufacturing, S. de R.L. de C,V. |
[GRAPHIC APPEARS HERE] | [GRAPHIC APPEARS HERE] |
Nombre: Name: Ruben Guilloty Arvelo | Nombre: Name; Leobardo Tenorio Malof |
Representante Legal/Attorney-in-fact | Representante Legal/Attorney-in-fact |
Testigo/Witness [GRAPHIC APPEARS HERE] | Testigo/Witness [GRAPHIC APPEARS HERE] |
Nombre: (Name:) [GRAPHIC APPEARS HERE] | Nombre: (Name:) [GRAPHIC APPEARS HERE] |
CONTRATO DE SUBARRENDAMIENTO | SUBLEASE CONTRACT | ||
CONTRATO DE SUBARRENDAMIENTO (el "Contrato") que se celebra con efectos a partir del 3 de diciembre de 2011 entre PALL MEXICO MANUFACTURING, S. DE R.L. DE C.V. (en lo sucesivo referida como la "SUBARRENDADORA"), representada en este acto por el senor Leobardo Tenorio Malof, en su caracter de Apoderado, y PALL LIFE SCIENCES MEXICO, S. DE R.L. DE C.V. (en lo sucesivo referida como la "SUBARRENDATARIA"), representada en este acto por el senor Ruben Guilloty Arvelo en su caracter de Apoderado, de conformidad con las siguientes declaraciones y clausulas: | SUBLEASE CONTRACT (the “Contract”) entered into effective December 3, 2011 by and between PALL MEXICO MANUFACTURING, S. DE R.L. DE C.V., represented herein by Mr. Leobardo Tenorio Malof, in his capacity as Attorney-in-fact of said corporation (hereinafter referred to as the "SUBLESSOR"), and PALL LIFE SCIENCES MEXICO, S. DE R.L. DE C.V. represented herein by Mr. Ruben Guilloty Arvelo in his capacity as Attorney-in-fact of said corporation (hereinafter referred to as the "SUBLESSEE"), in accordance with the following: | ||
DECLARACIONES: | RECITALS: | ||
1. La SUBARRENDADORA, por conducto de su apoderado, declara que: | 1. The SUBLESSOR, hereby states that: | ||
a) Es una sociedad de responsabilidad limitada de capital variable mexicana, constituida y validamente existente de conformidad con las leyes de los Estados Unidos Mexicanos (en lo sucesivo "Mexico"). | a) It is an entity duly incorporated and existing pursuant to the laws of the United Mexican States ("Mexico"). |
b) Es arrendataria de los edificios industriales con superficie total de 62,000 pies cuadrados ubicados en Calle Colinas No, 11731, Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, Tijuana, B.C., 22680 (en lo sucesivo el "Edificio"), construidos sobre el lote 7 con superficie de 11,092.22 metros cuadrados, ubicado en la manzana 930 de dicho Parque Industrial El Florido, Seccion Colinas. | b) It is the tenant of the industrial facilities with a surface area of 62,000 square feet located at Calle Colinas No. 11731, Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, Tijuana, B.C., 22680 (the "Building"), built on lot 7 with a surface area of 11,092.22 square meters, located at block 930 of such Parque Industrial El Florido, Seccion Colinas. | ||
c) Desea dar en subarrendamiento una porcion del Edificio con superficie de 500 pies cuadrados (en lo sucesivo referida como la "Propiedad Arrendada"). La Propiedad Arrendada se describe en el plano adjunto al presente Contrato como Anexo "A", el cual se tiene por reproducido en este acto mediante la presente referenda, por lo que forma parte integrante de este Contrato para todos los efectos a que haya lugar. | c) It wishes to sublease a portion of the Building with an area of 500 square feet (hereinafter the "Leased Property"). The Leased Property is described in the plot plan attached hereto as Exhibit "A", which is hereby incorporated by reference and becomes a part hereof. | ||
d) Desea dar en subarrendamiento la | d) It desires to sublease the Leased Property |
Propiedad Arrendada a la SUBARRENDATARIA, conforme a los terminos y condiciones de este Contrato. | to the SUBLESSEE, under the terms and conditions hereinafter set forth. | ||
II.- La SUBARRENDATARIA, por conducto de su apoderado declara que: | II.- SUBLESSEE, through its legal representative states: | ||
a) Es una sociedad de responsabilidad limitada de capital variable mexicana, constituida y validamente existente de conformidad con las leyes de Mexico. | a) It is an entity duly incorporated and existing pursuant to the laws of Mexico. | ||
b) Desea recibir en subarrendamiento la Propiedad Arrendada, conforme a los terminos y condiciones de este Contrato. | b) That its principal desires to sublease the Leased Property, subject to the terms and conditions contained herein. | ||
c) Su representante cuenta con facultades suficientes para celebrar este Contrato, las cuales no le han sido limitadas ni revocadas en forma alguna. | c) That its attorney-in-fact has all the authorities required to enter into this Contract, which authorities have not been limited nor revoked in any manner whatsoever. | ||
III.- LAS PARTES, POR CONDUCTO DE SUS RESPECTIVOS APODERADOS, DECLARAN QUE: | III.- THE PARTIES, THROUGH THEIR LEGAL REPRESENTATIVES, STATE: | ||
a) En la celebracion del presente Contrato no ha existido error, mala fe, dolo o vicio del consentimiento alguno entre ellas. | a) That in the execution of this Contract there has been no error, bad faith nor duress amongst them. | ||
b) En consideracion de las anteriores declaraciones, las partes se obligan de conformidad con las siguientes: | b) In consideration of the above recitals, the parties agree on the following: | ||
CLAUSULAS: | CLAUSES | ||
PRIMERA. SUBARRENDAMIENTO DE LA PROPIEDAD ARRENDADA | FIRST. SUBLEASE OF THE LEASED PROPERTY |
La SUBARRENDADORA en este acto entrega en subarrendamiento a la SUBARRENDATARIA y la SUBARRENDATARIA en este acto recibe en subarrendamiento de parte de la SUBARRENDADORA, la Propiedad Arrendada, con todo lo que le corresponde. | SUBLESSOR hereby subleases to SUBLESSEE and SUBLESSEE hereby subleases from SUBLESSOR, the Leased Property, together with all easements and rights of way appurtenant thereto. | ||
La SUBARRENDATARIA recibe la Propiedad Arrendada a satisfaccion tal y como la misma se encuentra. | SUBLESSEE hereby receives the Leased Property "as is" to its satisfaction. | ||
SEGUNDA. TITULARIDAD DE LA PROPIEDAD ARRENDADA | SECOND. OWNERSHIP OF THE LEASED PROPERTY | ||
La SUBARRENDADORA cuenta con la plena posesion de la Propiedad Arrendada. y garantiza que la SUBARRENDATARIA tendra el uso y goce pacifico de la Propiedad Arrendada durante el plazo de este Contrato. | The SUBLESSOR has the right of exclusive use and possession of the Leased Property, and it guarantees that the SUBLESSEE will have the quiet enjoyment of the Leased Property during all the term of this Contract. | ||
TERCERA. PLAZO Y ENTREGA DE LA PROPIEDAD ARRENDADA | THIRD. TERM AND DELIVERY OF THE LEASED PROPERTY | ||
A. Plazo. El plazo inicial de este Contrato es de l (un) ano contado a partir de la fecha de su firma (el "Plazo"), el cual podra ser prorrogado conforme a lo previsto en la seccion B de esta Clausula. | A. Term. The initial term of this Contract is for a period of 1 (one) year as of the date of execution hereof, unless it is extended pursuant to the provisions of paragraph B. of this clause (the “Term”). | ||
B. Prorroga del Plazo. La SUBARRENDATARIA podra prorrogar el Plazo de este Contrato por 3 (tres) periodos adicionales de un ano cada, los cuales seran prorrogados automaticamente. | B. Extension to the Lease Term. The SUBLESSEE may extend the Term for 3 (three) additional terms of one year each, which will be extended automatically.. | ||
C. Entrega de la Propiedad Arrendada. La SUBARRENDADORA entrega la Propiedad Arrendada a la SUBARRENDATARIA en la fecha de firma de este Contrato. | C. Delivery. SUBLESSOR hereby delivers the Leased Property to SUBLESSEE on the date of execution of this Contract. | ||
CUARTA.- USO DE LA PROPIEDAD ARRENDADA | FOURTH.- USE OF THE LEASED PROPERTY | ||
La SUBARRENDATARIA usara la Propiedad Arrendada unicamente para actividades de industria ligera y almacenaje de productos. Bajo ninguna circunstancia podra la SUBARRENDATARIA usar la Propiedad Arrendada para operaciones de industria quimica o pesada, ni para actividades que violen las leyes, regiamentos y normas municipals, estatales o federales. | The SUBLESSEE shall use the Leased Property only for light industrial operations and storage of products. Under no conditions whatsoever will the SUBLESSEE be permitted to use the Leased Property for chemical and heavy industrial operations, nor activities which are in violation of any applicable municipal, state and federal laws, regulations or ordinances. | ||
La SUBARRENDATARIA se obliga a cumplir con el Reglamento Interior del PARQUE INDUSTRIAL EL FLORIDO, en vigor, el cual manifiesta conocer en todos sus terminos, asi como con las posibles modificaciones que pudiera sufrir en el futuro. | SUBLESSEE agrees to comply with the Internal Rules of Parque Industrial El Florido, and the possible future modifications, avowing to know and understand said rules in all their terms. |
QUINTA. RENTA Y DEPOSITO | FIFTH. RENT AND DEPOSIT | ||
A. Renta. Durante el Plazo inicial de este Contrato, la SUBARRENDATARIA pagara como Renta por la Propiedad Arrendada. la cantidad de US$0.50 (cincuenta centavos 25/100 Dolares) moneda de los Estados Unidos de America ("Dolares"), por pie cuadrado del Edificio, por ano; es decir, la cantidad de US$3,000.00 Dolares (tres mil 00/100 Dolares) por ano. El monto anterior incluye mantenimiento. servicios publicos, seguro e impuesto predial. | A. Rent. For the initial Term of this Contract, the SUBLESSEE shall pay as Rent for the Leased Property, US$ US$0.50 (fifty cents 50/100 Dollars) currency, of the United States of America, per square foot of the Building per year, (that is the total amount of US$3,000.00 Dollars (three thousand 00/100 Dollars) per year. The previous amount includes maintenance, utilities, insurance and land tax. |
B. Pago. El pago de la Renta anual mas el Impuesto al Valor Agregado ("IVA") correspondiente, sera pagada por la SUBARRENDATARIA a la SUBARRENDADORA en una sola exhibicion dentro de los primeros siete (7) dias naturales del mes de enero de cada ano, sin necesidad de notificacion o solicitud de cobro alguna. Una vez que la SUBARRENDADORA reciba el pago anual de Renta. la SUBARRENDADORA entregara la factura correspondiente a la SUBARRENDATARIA. la cual cumplira con los requisitos fiscales aplicables. El pago anual de la Renta sera entregado en el domicilio de la SUBARRENDADORA. como se establece en este Contrato, o en cualquier otro lugar que la SUBARRENDADORA notifique por escrito a la SUBARRENDATARIA con al menos 10 (diez) dias de anticipacion. | B. Payment. An annual Rent plus the corresponding Value Added Tax ("VAT") shall be paid by SUBLESSEE to SUBLESSOR in one payment within the first seven (7) calendar days of each January, without notice or demand being required. Once SUBLESSOR receives the annual payment of the Rent, SUBLESSOR will deliver the corresponding official invoice to the SUBLESSEE, in compliance with Mexican tax requirements. The annual payment of the Rent will be paid at SUBLESSOR'S domicile, as provided hereof or to whatever place the SUBLESSOR notifies in writing SUBLESSEE at least 10 (ten.) days in advance. |
Las partes acuerdan que el primer pago anual de la Renta debera pagarlo la SUBARRENDATARIA dentro de los diez (10) dias naturales siguientes a que la SUBARRENDADORA le notifique a la SUBARRENDATARIA que cuenta con cuenta bancaria y con comprobantes fiscales. | The parties hereby agree that the first annual paymem of the Rent shall be paid by SUBLESSOR within ten (10) calendar days after it receives notice from the SUBLESOR that SUBLESOR has open a bank account and that it has the corresponding official Mexican tax receipts. | ||
C. Pago en mora. Si la SUBARRENDATARIA no paga la amortizacion mensual de la Renta en tiempo. la SUBARRENDATARIA pagara a la SUBARRENDADORA, un interes moratorio mensual equivalente al dos por ciento (2%) de la cantidad total no pagada en tiempo, hasta que la misma sea totalmente pagada. | C. Late Payment. If SUBLESSEE does not pay the monthly installments of Rent when due, the SUBLESSEE, shall pay SUBLESSOR, as contractual penalty, a monthly interest equivalent to two percent (2%) of the total unpaid amount, until its payment in full. | ||
D. Pago de IVA. La SUBARRENDATARIA pagara el IVA correspondiente a las amortizaciones mensuales de Renta antes senaladas. | D. Payment of VAT. The SUBLESSEE will pay the Value Added Tax ("VAT") which may be applicable to the above monthly installments of Rent. |
E. Incrementos de Renta. De prorrogarse el Plazo de este Contrato como se establece en Ia cláusula tercera, Ia Renta serã incrementada en un 3.5% (ties punto cinco por ciento) anual fijo. SEXTA. MODIFICACIONES A LA PROPIEDAD ARRENDADA La SUBARRENDATARIA no podrá efectuar modificación alguna en Ia Propiedad Arrendada sin la autorización previa y por escrito de La SUBARRENDADORA, Ia cual no será negada sin causa justificada. Todas las instalaciones y equipo sea cual fuere su naturaleza. que sea instalado en Ia Propiedad Arrendada por Ia SUBARRENDATARIA. ya sea que fuere instalado permanentemente o no, continuarã siendo propiedad de la SUBARRENDATARIA. y deherá ser removido por Ia SUBARRENDATARIA a Ia expiración del plazo o term macion de este Contrato. a menos que Ia SUBARRENDATARIA reciha confirmación por escrito de parte de Ia SUBARRENDADORA, por adelantado, en cada caso especifico. de que las mejoras o iristalaciones o cquipo en Ia Propiedad Arrendada pueden permanecer en Ia Propiedad Arrendada. La SUBARRENDATARIA deberá. a su costo. reparar todo daflo causado a Ia Propiedad Arrendada como resultado de Ia remociOn de cualquier equipo, instalaciones o mejoras. La SUBARRENDATAR1A entregará La Propiedad Arrendada a Ia SUBARRENDADORA en condiciones adecuadas de orden. presentacion y limpieza. SEPTIMA. CESION SUBARRENI) AMIENTO V La SUBARRENDATARIA no podrá subarrendar La Propiedad Arrendada o ceder este Contrato. a menos que obtenga Ia autorizaciOn expresa previa y por escrito de La SUBARRENDATARIA. Ia cual no será negada sin causajustificada. OCTAVA. ENTREGA PROPIEDAD ARRENDADA DE LA La SUBARRENDATARIA entregará Ia Propiedad Arrendada a Ia SUBARRENDADORA el ultimo dia del Plazo de este Contrato. o en el momento de | E. Rent escalation. If the Term is extended as provided for in the third clause of this Agreement. the Rent shall increase in 3.5% (three point five per cent) annually. SIXTH. ALTERATIONS The SUBLESSEE may not perform any alteration at the Leased Property without the prior written authorization of SUBLESSOR. which authorization shall not be unreasonably withheld. All fixtures and/or equipment of whatsoever nature that are installed in the Leased Property by the SUBLESSEE, whether permanently affixed thereto or otherwise, will continue to be the property of the SUBLESSEE. and will be removed by SUBLESSEE at the expiration or termination of this Contract or any renewal or extension thereof, unless the SUELESSEE receives written confirmation of SUBLESSOR. in advance, in each specific case. that the improvements made on the Leased Property may remain in the Leased Property. SUBLESSEE must at its own cost and expense repair any damage to the Leased Property resulting from the removal of any equipment and/or accessories. SUBLESSEE shall deliver the Leased Property to the SUBLESSOR in adequate conditions of order. presentation and cleanliness. SEVENTH. ASSIGNN1 AND SUBLETTING The SUBLESSEE may not sublease the Leased Property or assign this Contract, unless it has the prior express written authorization of the SUBLESSOR. which authorization will not be unreasonably withheld. EIGHTH. SURRENDER SUBLESSEE will, on the last day of the Lease Term or its extensions, or upon anticipated termination, surrender and deliver the Leased |
la terminación anticipada del mismo, sin demora, en buenas condiciones de orden. limpieza y reparación, excepto por ci desgaste normal causado por el uso normal y el paso del tiempo. Todos los anuncios, inscripciones, señalamientos e instalaciones de naturaleza similar efectuados o instalados por el SUBARRENDATARIA serãn removidos en o antes de la entrega de la Propiedad Arrendad en los términos de esta cláusula. Todo el mobiliario, instalaciones y equipo instalados por la SUBARRENDATARIA continuarán siendo propiedad de la SUBARRENDATARIA deberán ser removidos por la SUBARRENDATARIA antes de la entrega de la Propiedad Arrendada a la SUBARRENDADORA, y La SUBARRENDATARIA a su costo, reparará cualquier dano que pudiere resultar de la instalación o remocion de dichos bienes. Todo bien que permanezca en la Propiedad Arrendada durante treinta (30) dias posteriores a Ia terminacion de este Contrato, sea que estuvieren instalados permanentemente en la Propiedad Arrendada o no, podrán ser considerados abandonados a eleccion de la SUBARRENDADORA, y ella podrá retenerlos en calidad de propietaria, o disponer de los mismos, segun lo considere pertinente, sin responsabilidad alguna a su cargo. NOVENA. RETENCION DE LA PROPIEDAD ARRENDADA La SUBARRENDATARIA entregara en forma inmediata la Propiedad Arrendada a la SUBARRENDADORA a la terminación de este Contrato por expiración de su plazo o por cualquier otra causa. DECIMA. DISPOSICIONES AMBIENTALES A partir de la fecha de firma de este Contrato, la SUBARRENDATARIA cumplirá con todas las leyes, reglamentos y normas relativas al equilibrio ecologico y la protección al ambiente aplicables en relacion con el uso de la Propiedad Arrendada. La SUBARRENDADORA declara que en su leal saber y entender, la Propiedad Arrendada se encuentra actualmente libre de contaminación. | Property into the possession and use of the SUBLESSOR without delay, in good order, conditions and repair, except for normal wear and tear due to normal use and the passage of time. All signs, inscriptions, canopies and installations of like nature made by SUBLESSEE shall be removed at or prior to the expiration of the term of this Contract. All furniture, trade fixtures and equipment installed by SUBLESSEE shall remain the property of the SUBLESSEE and shall be removed by SUBLESSEE at any time during or at the end of the term and the SUBLESSEE shall, at its own expense, repair all damages resulting from the installation or removal thereof. Any property, being permanently affixed to the Leased Property or not, which remains in the Leased Property thirty (30) days after the termination of the Contract may, at the option of SUBLESSOR, be deemed to have been abandoned and either may be retained by SUBLESSOR as their property or be disposed of, without liability, in such manner as SUBLESSOR may see fit. NINETH. HOLDING OVER The SUBLESSEE shall at the termination of the Contract by lapse of time or otherwise, immediately deliver the possession of the Leased Property to SUBLESSOR. TENTH. ENVIRONMENTAL CLAUSE As of the date of execution hereof, the SUBLESSEE shall observe all laws and regulations regarding ecological equilibrium and environment protection applicable to the use of the Leased Property. SUBLESSOR states that, to the best of its knowledge the Leased Property is currently free of contamination. |
DECIMA PRIMERA. DERECHO DE LA SUBARRENDAIORA A LLEVAR A CABO LAS OBLIGACIONES DE LA SUBARRENDATARIA Si la SUBARRENDATARIA incumple con alguna de sus obligaciones establecidas en este Contrato, la SUBARRENDADORA. una vez transcurridos diez (10) dias luego de haber dado aviso por escrito a la SUBARRENDATARIA respecto de dicho incumplimiento (o sin necesidad de dar aviso alguno en caso de emergencia) y sin que ello implique renuncia alguna por parte de la SUBARRENDADORA respecto de las obligaciones de la SUBARRENDATARIA pactadas en este Contrato, podrá, sin estar obligada a ello, llevar a cabo dichas obligaciones de la SUBARRENDATARIA y podra entrar a la Propiedad Arrendada para dicho fin y llevar a cabo cuantas acciones sean necesarias al efecto. Todas las cantidades que razonablemente hubiere pagado la SUBARRENDADORA en relación con costos y gastos incurridos por el cumplimiento de las obligaciones incumplidas por Ia SUBARRENDATARIA, deberán ser pagadas por la SUBARRENDATARIA a la SUBARRENDADORA dentro de los diez (10) dias siguientes a su cobro. DECIMA SEGUNDA. DERECHO DE LA SUBARRENDATARIA A LLEVAR A CABO LAS OBLIGACIONES DE LA SUBARRENDADORA Si la SUBARRENDADORA incumple con alguna de sus obligaciones establecidas en este Contrato, la SUBARRENDATARIA, una vez transcurridos diez (10) dias luego de haber dado aviso por escrito a la SUBARRENDADORA respecto de dicho incumplimiento (o sin necesidad de dar aviso alguno en caso de emergencia) y sin que ello implique renuncia alguna por parte de la SUBARRENDATARIA respecto de las obligaciones de la SUBARRENDADORA pactadas en este Contrato, podrá, sin estar obligada a ello, llevar a cabo dichas obligaciones de la SUBARRENDADORA y llevar a cabo cuantas acciones sean necesarias al efecto. Todas las cantidades que razonablemente hubiere pagado la SUBARRENDATAR1A en relación con costos y | ELEVENTH. SUBLESSOR’S RIGHT TO PERFORM SUBLESSEE’S COVENANTS If SUBLESSEE fails to perform any one or more of its obligations hereunder, SUBLESSOR, after ten (10) days written notice to SUBLESSEE (or without notice in the case of an emergency) and without waiving or releasing SUBLESSEE from any obligation of SUBLESSEE contained in this Contract, may but shall be under no obligation to perform any act on SUBLESSEE’s part to be performed as provided in this Contract, and may enter upon the Leased Property for that purpose and take all such actions thereon as may be necessary to such effect. All reasonable sums paid by SUBLESSOR and all costs and expenses incurred by SUBLESSOR in connection with the performance of any such obligation of SUBLESSEE, shall be payable by SUBLESSEE to SUBLESSOR within ten (10) days after receiving notice. TWELFTH. SUBLESSEE’S RIGHT TO PERFORM SUBLESSOR COVENANTS If SUBLESSOR fails to perform any one or more of its obligations hereunder, SUBLESSEE, after ten (10) days written notice to SUBLESSOR (or without notice in the case of an emergency) and without waiving or releasing SUBLESSOR from any obligation of SUBLESSOR contained in this Contract, may but shall be under no obligation to perform any act on SUBLESSOR’s part to be performed as provided in this Contract, and may take all such actions thereon as may be necessary to such effect. All reasonable sums paid by SUBLESSEE and all costs and expenses incurred by SUBLESSEE in connection with the performance of any such obligation of SUBLESSOR, will be payable by SUBLESSOR to SUBLESSEE within ten (10) days after |
gastos incurridos por el cumplimiento de las obligaciones incumplidas SUBARRENDADORA, deberán ser pagadas por la SUBARRENDADORA a la SUBARRENDATARIA dentro de los diez (10) dias siguientes a su cobro. DECIMA TERCERA. ACCESO A LA PROPIEDAD ARRENDADA POR PARTE DE LA SUBARRENDAIDORA La SUBARRENDATARIA permitirá a Ia SUBARRENDADORA y a Ia propietaria de Ia Propiedad Arrendada, y a sus respectivos representantes, el acceso a Ia Propiedad Arrendada todas las veces que sea razonablemente conveniente a fin de inspeccionarla. DECIMA CUARTA. ANUNCIOS La SUBARRENDATARIA podrá instalar en Ia Propiedad Arrendada los anuncios que requiera para sus operaciones, incluyendo anuncios relativos a Ia contratación de personal. Cualquier otro anuncio distinto de los mencionados anteriormente que desee instalar Ia SUBARRENDATARIA, deberá ser aprobado por escrito y con anticipación por Ia SUBARRENDADORA. DECIMA QUINTA. NOTIFICACIONES Siempre que sea necesario o conveniente para las partes entregar avisos o notificaciones a la otra parte conforme a lo previsto en este Contrato, dichos avisos o notificaciones, para ser vãlidos, deberan ser entregados en forma personal, o mediante correo certificado o registrado con acuse de recibo, o mediante servicio de mensajeria reconocido, dirigidos a las siguientes direcciones: SUBARRENDADORA: Calle Colinas No. 11731 Parque Industrial El Florido, Sección Colinas Delegación La Presa Tijuana, B.C. 22680 SUBARRENDATARIA: Calle Colinas No. 11731-A Parque Industrial El Florido, Seccion Colinas Delegación La Presa Tijuana, B.C. 22680 | receiving notice. THIRTHEENTH. ENTRY TO LEASED PROPERTY BY SUBLESSOR SUBLESSEE will allow SUBLESSOR and the owner of the Leased Premises and their respective representatives to enter into the Leased Property at all reasonable times for the purpose of inspecting same. FOURTEENTH. SIGNS The SUBLESSEE may place on the Leased Property or attach to the exterior of the Building its signs and other signs it require for its operation including signs regarding the hiring of personnel. No other signs may be placed in or on the Leased Property without SUBLESSOR’s written consent. FIFTENTH. NOTICES Whenever it shall be necessary or desirable for one of the parties to serve any notice or demand upon the other pursuant to the provisions of this Contract, such notice or demand will be served personally, or by registered or certified mail, return receipt requested, or by reputable courier service addressed to: SUBLESSOR: Calle Colinas No. 11731 Parque Industrial El Florido, Sección Colinas Delegación La Presa Tijuana, B.C. 22680 SUBLESSEE: Calle Colinas No. 11731-A Parque Industrial El Florido, Sección Colinas Delegacion La Presa Tijuana, B.C. 22680 |
DECIMA SEXTA. SUBTITULOS Las partes convienen que los subtitulos utilizados en este Contrato son para efectos de facilitar la referencia de sus cláusulas. por lo que no serán considerados parte del Contrato ni serán utilizados para efectos de su interpretaciOn. DECIMA SEPTIMA. LEY APLICABLE Y JURISDICCION Este Contrato será interpretado de conformidad con lo previsto en el Codigo Civil del Estado de Baja California y demás leyes aplicables en el Estado de Baja California. Mexico, y las partes expresamente se someten a la jurisdicción de los tribunales de Tijuana. Baja California. Mexico. renunciado a cualquier otro fuero que pudiere corresponderles. DECIMA OCTAVA. TRADUTCCION Las partes convienen en que el presente Contrato se firma en los idiomas ingles y espanol. Las panes convienen que la version en espafiol constituye Ia versiOn oficial acordada por las partes, Ia cual prevalecerá en todo momento. EN TESTIMONIO DE LO ANTERIOR. Las partes manifiestan su consentimiento con el contenido de este Contrato con efectos a partir de Ia fecha que se menciona en el encabezado del presente Contrato. | SIXTEENTH. CAPTIONS The parties mutually agree that the headings and captions contained in this Contract are inserted for convenience of reference only and are not to be deemed part of or to be used in construing this Contract. SEVENTHEENTH. JURISDICTION This Contract will be interpreted in accordance with provisions of the Civil Code and laws of the State of Baja California, Mexico. and both parties hereby expressly submit to the jurisdiction of the Courts of Tijuana. State of Baja California. Mexico. and they waive any other forum that could correspond to them for any reason whatsoever. EIGHTEENTH.TRANSLATION SUBLESSOR and SUBLESSEE agree that this Contract is executed in the English and Spanish languages. The parties agree that the Spanish version shall prevail in all events. IN WITNESS WHEREOF The undersigned parties, through their duly authorized representatives, have executed this Contract effective as of the date stated in the header of this Agreement. | |
SUBARREN1ADORA/SIJBLESSOR PALL MEXICO MANUFACTURING, S. DE R.L. DE C.V. (Graphics appears hear) Por:/By: Leabardo Tenorio-Malof SUBARRENDATARIA/SUBLESSEE PALL LIFE SCIENCES MEXICO, S. DE R.L. DE C.V. (Graphics appears hear) Por:/By: Ruben Guilloty Arvelo | ||
ANEXO A/EXHIBIT A PLANO/PLOT PLAN |
CONTRATO DE SUBARRENDAMIENTO | SUBLEASE CONTRACT | |
CONTRATO DE SUBARRENDAMIENTO (el "Contrato") que se celebra entre PALL MEXICO MANUFACTURING, S. DE R.L. DE C.V., representada en este acto por el senor Leobardo Tenorio Malof, en su caracter de Apoderado de dicha sociedad (en lo sucesivo referida como la "SUBARRENDADORA"), y ENSATEC, S.A. DE C.V., representada en este acto por el senor Hector Machado Barraza en su caracter de Apoderado de dicha sociedad (en lo sucesivo referida como la "SUBARRENDATARIA"), de conformidad con las siguientes declaraciones y clausulas: | SUBLEASE CONTRACT (the ''Contract") entered into by and between PALL MEXICO MANUFACTURING, S. DE R.L. DE C.V., represented herein by Mr. Leobardo Tenorio Malof, in his capacity as Attorney-in-fact of said company (hereinafter referred to as the "SUBLESSOR"), and ENSATEC, S.A. DE C.V., represented herein by Mr. Hector Machado Barraza in his capacity as Attorney-in-fact of said company (hereinafter referred to as the "SUBLESSEE"), in accordance with the following: | |
DECLARACIONES: | RECITALS: | |
1. La SUBARRENDADORA, por conducto de su apoderado, declara que: | 1. The SUBLESSOR, through its legal representative states: | |
a) Es una sociedad de responsabilidad limitada de capital variable mexicana, constituida y validamente existente de conformidad con las leyes de los Estados Unidos Mexicanos (en lo sucesivo denominados "Mexico"). | a) It is a Mexican limited liability company of variable capital, duly organized pursuant to the laws of the United Mexican States ("Mexico"). |
b) De conformidad con el contrato de arrendamiento celebrado con la senora Blanca Estela Colunga Santelices ("Contrato de Arrendamiento") el 3 de diciembre de 2007, es arrendataria de los edificios industriales con superficie total de 62,000 pies cuadrados ubicados en Calle Colinas No. 11731, Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, Tijuana, B.C., 22680 (en lo sucesivo el "Edificio"), construidos sobre el lote 7 con superficie de 11,092.22 metros cuadrados, ubicado en la manzana 930 de dicho Parque Industrial El Florido, Seccion Colinas. | b) Pursuant to the lease contract entered with Mrs. Blanca Estela Colunga Santelices ("Lease Contract") on December 3, 2007, it is the tenant of the industrial facilities with a surface area of 62,000 square feet located at Calle Colinas No. 11731, Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, Tijuana, B.C., 22680 (the "Building"), built on lot 7 with a surface area of 11,092.22 square meters, located at block 930 of such Parque Industrial El Florido, Seccion Colinas. | |
c) Desea dar en subarrendamiento una porcion del Edificio con superficie de 2,250 pies cuadrados ("Propiedad Arrendada"). La Propiedad Arrendada se describe en el plano adjunto al presente Contrato como Anexo "A", el cual se tiene por reproducido en este acto mediante la presente referencia, por lo | c) It desires to sublease a portion of the Building with an area of 2,250 square feet ("Leased Property"). The Leased Property is described on the plot plan attached hereto as Exhibit "A", which is hereby incorporated by reference and becomes a part hereof. The Leased |
que forma parte integrante de este Contrato para todos los efectos a que haya lugar. La Propiedad Arrendada incluye un espacio para estacionamiento identificado como el numero tres (3). | Property includes a parking space identified as parking space number three (3). | |
d) Que en los terminos del Contrato de Arrendamiento esta autorizado para subarrendar cualquier porcion del Edificio a la SUBARRENDATARIA y, consiguientemente, desea dar en subarrendamiento la Propiedad Arrendada a la SUBARRENDATARIA, conforme a los terminos y condiciones de este Contrato. | d) Pursuant to the Lease Contract, it has the right to sublease at will any portion of the Building to SUBLESSE and, accordingly, it desires to sublease the Leased Property to the SUBLESSEE under the terms and conditions hereinafter set forth. | |
e) Su representante cuenta con facultades suficientes para celebrar este Contrato, las cuales no le han sido limitadas ni revocadas en forma alguna. | e) That its Attorney-in-fact has all the authorities required to enter into this Contract, which authorities have not been limited nor revoked in any manner whatsoever. | |
II.- La SUBARRENDATARIA, por conducto de su apoderado, declara que: | II.- The SUBLESSEE, through its legal representative states: | |
a) Es una sociedad anonima de capital variable mexicana, constituida y validamente existente de conformidad con las leyes de Mexico, cuyo principal asiento de negocios se ubica en Calle Colinas No. 11731-B, Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, Tijuana, B.C. 22680. | a) That its principal is a Mexican corporation of variable capital duly incorporated pursuant to the General Law of Mercantile Corporations, with its principal place of business at Calle Colinas No. 11731-B, Parque Industrial El Florido, Seccion Colinas, Delegacion La Presa, Tijuana, B.C. 22680. | |
b) Desea recibir en subarrendamiento la Propiedad Arrendada, conforme a los terminos y condiciones de este Contrato. | b) That its principal desires to sublease the Leased Property, subject to the terms and conditions contained herein. | |
c) Su representante cuenta con facultades suficientes para celebrar este Contrato, las cuales no le han sido limitadas ni revocadas en forma alguna. | c) That its Attorney-in-fact has all the authorities required to enter into this Contract, which authorities have not been limited nor revoked in any manner whatsoever. | |
III.- Las partes, por conducto de sus respectivos apoderados, declaran que: | III.- The parties, through their legal representatives, state: | |
En la celebracion del presente Contrato no ha existido error, mala fe, dolo o vicio del consentimiento alguno entre ellas. | That in the execution of this Contract there has been no error, bad faith nor duress amongst them. |
En consideracion de las anteriores declaraciones, las partes se obligan de conformidad con las siguientes: | In consideration of the above recitals, the parties agree on the following: | |
CLAUSULAS: | CLAUSES | |
PRIMERA. SUBARRENDAMIENTO DE LA PROPIEDAD ARRENDADA | FIRST. SUBLEASE OF THE LEASED PROPERTY | |
La SUBARRENDADORA en este acto entrega en subarrendamiento a la SUBARRENDATARIA y la SUBARRENDATARIA en este acto recibe en subarrendamiento de parte de la SUBARRENDADORA, la Propiedad Arrendada, con todo lo que le corresponde. | SUBLESSOR hereby subleases to SUBLESSEE and SUBLESSEE hereby subleases from SUBLESSOR, the Leased Property, together with all easements and rights of way appurtenant thereto. | |
La SUBARRENDATARIA recibe la Propiedad Arrendada a satisfaccion tal y como la misma se encuentra, y expresamente renuncia a los derechos en su favor establecidos en los articulos 2286 fraccion V y 2295 del Codigo Civil del Estado de Baja California, articulos que la SUBARRENDATARIA manifiesta conocer y comprender en su integridad, por lo que la presente renuncia es valida de conformidad con el articulo 7 del Codigo Civil del Baja California. | SUBLESSEE hereby receives the Leased Property "as is" to its satisfaction, therefore expressly waiving the rights that in its favor are set forth in articles 2286 section V and 2295 of the Civil Code for the State of Baja California. SUBLESSEE expressly states that it knows and understands said articles in their entirety, and therefore these waivers are valid pursuant to article 7 of the Civil Code for the State of Baja California. | |
SEGUNDA. TITULARIDAD DE LA PROPIEDAD ARRENDADA | SECOND. TITLE TO THE LEASED PROPERTY | |
La SUBARRENDADORA cuenta con el uso exclusivo y posesion de la Propiedad Arrendada, y garantiza que la SUBARRENDATARIA tendra el uso y goce pacifico de la Propiedad Arrendada durante el plazo de este Contrato. | The SUBLESSOR has the right of exclusive use and possession of the Leased Property, and it guarantees that the SUBLESSEE will have the quiet enjoyment of the Leased Property during the term of this Contract. | |
TERCERA. PLAZO Y ENTREGA DE LA PROPIEDAD ARRENDADA | THIRD. TERM AND DELIVERY OF THE LEASED PROPERTY | |
A. Plazo. El plazo inicial de este Contrato es de un (1) ano contado a partir de la fecha de su firma; sin embargo, la SUBARRENDATARIA lo podra dar por terminado el presente Contrato, en cualquier tiempo, sin ninguna responsabilidad para la SUBARRENTARIA, con un aviso, por escrito, al | A. Term. The initial term of this Contract is for a period of one (1) year as of the date of execution hereof; notwithstanding, the SUBLESSE may terminate this Contract, at any time, without any liability to SUBLESSE, by giving SUBLESSOR in writing a notice thirty (30) days in advance of |
SUBARRENDAROR con treinta (30) dias de anticipation de la fecha efectiva de terminacion (el "Plazo"). | the termination date (the "Term"). | ||
B. Entrega de la Propiedad Arrendada. La SUBARRENDADORA entrega la Propiedad Arrendada a la SUBARRENDATARIA en la fecha de firma de este Contrato. | B. Delivery. SUBLESSOR hereby delivers the Leased Property to SUBLESSEE on the date of execution hereof. | ||
CUARTA.- USO DE LA PROPIEDAD ARRENDADA | FOURTH.- USE OF THE LEASED PROPERTY | ||
La SUBARRENDATARIA usara la Propiedad Arrendada unicamente para actividades de ensamble de productos y almacenaje de productos. Bajo ninguna circunstancia podra la SUBARRENDATARIA usar la Propiedad Arrendada para operaciones de industria quimica o pesada, ni para actividades que violen las leyes, reglamentos y normas municipales, estatales o federales. | The SUBLESSEE shall use the Leased Property only for assembly of products and storage of products. Under no conditions whatsoever will the SUBLESSEE be permitted to use the Leased Property for chemical and heavy industrial operations, nor activities which are in violation of any applicable municipal, state and federal laws, regulations or ordinances. | ||
La SUBARRENDATARIA se obliga a cumplir con el Reglamento Interior del PARQUE INDUSTRIAL EL FLORIDO, en vigor, el cual manifiesta conocer en todos sus terminos, asi como con las posibles modificaciones que pudiera sufrir en el futuro. Dicho reglamento se adjunta al presente como Anexo B. | SUBLESSEE agrees to comply with the Internal Rules of Parque Industrial El Florido, and the possible future modifications, avowing to know and understand said rules in all their terms. The rules are attached hereto as Exhibit B. | ||
QUINTA. RENTA | FIFTH. RENT | ||
A. Renta. Durante el Plazo de este Contrato, la SUBARRENDATARIA pagara como renta por la Propiedad Arrendada, la cantidad de US$0.50 (cincuenta centavos; 50/100 Dolares) moneda de los Estados Unidos de America ("Dolares"), por pie cuadrado de la Propiedad Arrendada, por mes; es decir, la cantidad de US$13,500.00 Dolares (trece mil quinientos 00/100 Dolares) por ano (la "Renta"). La Renta incluye todos los gastos y costos de mantenimiento, servicios publicos, seguro, impuesto predial, etc. | A. Rent. For the Term of this Contract, the SUBLESSEE shall pay as rent for the Leased Property US$0.50 (fifty cents; 50/100 Dollars), currency of the United States of America ("Dollars"), per square foot of the Leased Property per month; that is the total amount of US$13,500.00 Dollars (thirteen thousand five hundred 00/100 Dollars) per year (the "Rent"). The Rent amount is all inclusive and includes all maintenance, utilities, insurance, land tax, etc. |
B. Pago. Una doceava parte de dicha Renta anual mas el Impuesto al Valor Agregado ("IVA") correspondiente, sera pagada por la SUBARRENDATARIA a la SUBARRENDADORA por adelantado dentro de los primeros cinco (5) dias naturales de cada mes, sin necesidad de notificacion o solicitud de cobro alguna. Consecuentemente, la SUBARRENDATARIA entregara a la SUBARRENDADORA en forma de amortizacion mensual, la cantidad de US$1,125.00 Dolares (mil ciento veinticinco 00/100 Dolares). Una vez que la SUBARRENDADORA reciba el pago de la amortizacion mensual de Renta, la SUBARRENDADORA entregara la faclura correspondiente a la SUBARRENDATARIA, la cual cumplira con Ios requisitos fiscales aplicables. El pago de la amortizacion mensual de la Renta sera entregado en el domicilio de la SUBARRENDADORA, como se establece en este Contrato, o en cualquier otro lugar que la SUBARRENDADORA notifique por escrito a la SUBARRENDATARIA con al menos diez (10) dias de anticipacion. | B. Payment. One-twelfth of such annual Rent plus the corresponding Value Added Tax ("VAT") shall be paid by SUBLESSEE to SUBLESSOR in advance within the first five (5) calendar days of the month, without notice or demand being required. As a result of the foregoing, the SUBLESSEE must deliver to the SUBLESSOR on a monthly basis, the amount of US$ 1,125.00 Dollars (one thousand one hundred and twenty five 00/100 Dollars). Once SUBLESSOR receives the monthly installments of Rent, SUBLESSOR will deliver the corresponding official invoice to the SUBLESSEE, in compliance with Mexican tax requirements. The monthly installments of Rent will be paid at SUBLESSOR'S domicile, as provided hereof, or to whatever place the SUBLESSOR notifies in writing to SUBLESSEE at least ten (10) days in advance. |
C. Pago en mora. Si la SUBARRENDATARIA no paga la amortizacion mensual de la Renta en tiempo, la SUBARRENDATARIA pagara a la SUBARRENDADORA, un interes moratorio mensual equivalents al dos porciento (2%) de la cantidad total no pagada en tiempo, hasta que la misma sea totalmente pagada. | C. Late Payment. If SUBLESSEE does not pay the monthly installments of Rent when due, the SUBLESSEE shall pay SUBLESSOR, as a contractual penalty, a monthly interest equivalent to two (2%) percent of the total unpaid amount, until its payment in full. | ||
D. Pago Proporcional. Si la fecha de inicio del Plazo de este Contrato es un dia distinto al primer dia de un mes natural, la cantidad correspondiente a la primera amortizacion mensual de la Renta sera la parte proporcional equivalente a la porcion del primer mes natural que la Propiedad Arrendada sea subarrendada por la SUBARRENDATARIA. | D. Proportional Payment. If the commencement date of the Term of this Contract is a day other than the first day of a calendar month, the amount of the first monthly installment of Rent will be that pro rata portion of the monthly Rent payment which is equal to the portion of the first calendar month that the Leased Property is effectively under sublease by the SUBLESSEE. | ||
E. Pago de 1VA. La SUBARRENDATARIA pagara a la SUBARRENDADORA el IVA | E. Payment of VAT. The SUBLESSEE will pay to SUSBLESSOR the VAT which is | ||
correspondiente a las amortizaciones mensuales de Renta antes senaladas. | applicable to the above monthly installments of Rent. |
F. Incrementos de Renta. De prorrogarse el Plazo de este Contrato, la Renta sera incrementada en un tres y medio porciento (3.5%) anual fijo. | F. Rent escalation. If the Term of this Contract is extended by the parties, the Rent shall increase three and one-half (3.5%) percent annually. | ||
G. Renuncias. Todas las Rentas que hayan comenzado a causarse durante el mes deberan cubrirse integramente, aunque la SUBARRENDATARIA entregue la Propiedad Arrendada antes del vencimiento del periodo correspondiente, a cuyo efecto renuncia al derecho de cubrir solo parte de la Renta como lo previene el articulo 2303 del Codigo Civil para el Estado de Baja California. Por ningun motive podra la SUBARRENDATARIA retener las Rentas. Las partes convienen que todas las reclamaciones por parte de la SUBARRENDATARIA en los casos previstos por los articulos 2295, 2319 y 2364 del Codigo Civil para este Estado de Baja California, en su caso, seran presentadas por la SUBARRENDATARIA en forma independiente de la obligacion de la SUBARRENDATARIA de pagar la Renta integramente durante el termino de este Contrato. | G. Waivers. SUBLESSEE must pay the total amount of Rent per month, even if it delivers possession of the Leased Property before the end of the month, therefore, it waives its right to pay only a part of the Rent as established by article 2303 of the Civil Code for the State of Baja California. Under no circumstances shall SUBLESSEE withhold the Rent. It is expressly agreed that all claims by SUBLESSEE in the events described in articles 2295, 2319 and 2364 of the Civil Code for the State of Baja California, as the case may be, shall be filed by SUBLESSEE independently of SUBLESSEE's obligations to pay the Rent during the term of this Contract. | ||
SEXTA. MODIFICACIONES A LA PROPIEDAD ARRENDADA | SIXTH. ALTERATIONS |
La SUBARRENDATARIA no podra efectuar modificacion alguna en la Propiedad Arrendada sin la autorizacion previa y por escrito de la SUBARRENDADORA, la cual no sera negada sin causa justificada. Todas las instalaciones y equipo sea cual fuere su naturaleza, que sea instalado en la Propiedad Arrendada por la SUBARRENDATARIA, ya sea que fuere instalado permanentemente o no, continuara siendo propiedad de la SUBARRENDATARIA, y debera ser removido por la SUBARRENDATARIA a la expiracion del plazo o terminacion de este Contrato, a menos que la SUBARRENDATARIA reciba confirmacion por escrito de parte de la SUBARRENDADORA, por adelantado, en cada | The SUBLESSEE may not perform any alteration at the Leased Property without the prior written authorization of SUBLESSOR, which authorization shall not be unreasonably withheld. All fixtures and/or equipment of whatsoever nature that are installed in the Leased Property by the SUBLESSEE, whether permanently affixed thereto or otherwise, will continue to be the property of the SUBLESSEE, and will be removed by SUBLESSEE at the expiration or termination of this Contract or any renewal or extension thereof, unless the SUBLESSEE receives written confirmation of SUBLESSOR, in advance, in each specific case, that the improvements made on the Leased Property may remain in the Leased Property. | ||
caso especifico, de que las mejoras o instalaciones o equipo en la Propiedad Arrendada pueden permanecer en la Propiedad Arrendada. | |||
SEPTIMA. CESION Y SUBARRENDAMIENTO | SEVENTH. ASSIGNMENT AND SUBLETTING | ||
La SUBARRENDATARIA no podra subarrendar la Propiedad Arrendada o ceder este Contrato, a menos que obtenga la autorizacion expresa previa y por escrito de la SUBARRENDORA, la cual no sera negada sin causa justificada. | The SUBLESSEE may not sublease the Leased Property or assign this Contract, unless it has the prior express written authorization of the SUBLESSOR, which authorization will not be unreasonably withheld. | ||
OCTAVA. ENTREGA DE LA PROPIEDAD ARRENDADA | EIGHTH. SURRENDER |
La SUBARRENDATARIA entregara la Propiedad Arrendada a la SUBARRENDADORA el ultimo dia del Plazo de este Contrato, o en el momento de la terminacion anticipada del mismo, sin demora, en buenas condiciones de orden, limpieza y reparacion, excepto por el desgaste normal causado por el uso normal y el paso del tiempo. Todos los anuncios, inscripciones, senalamientos e instalaciones de naturaleza similar efectuados o instalados por la SUBARRENDATARIA seran removidos en o antes de la entrega de la Propiedad Arrendad en los terminos de esta clausula. Todo el mobiliario, instalaciones y equipo instalados por la SUBARRENDATARIA continuaran siendo propiedad de la SUBARRENDATARIA deberan ser removidos por la SUBARRENDATARIA antes de la entrega de la Propiedad Arrendada a la SUBARRENDADORA, y la SUBARRENDATARIA a su costo, reparara cualquier dano que pudiere resultar de la instalacion o remocion de dichos bienes. | SUBLESSEE will, on the last day of the lease Term or its extensions, or upon anticipated termination, surrender and deliver the Leased Property into the possession and use of the SUBLESSOR without delay, in good order, conditions and repair, except for normal wear and tear due to normal use and the passage of time. All signs, inscriptions, canopies and installations of like nature made by or affixed by SUBLESSEE shall be removed at or prior to the expiration of the Term of this Contract. All furniture, trade fixtures and equipment installed by SUBLESSEE shall remain the property of the SUBLESSEE and shall be removed by SUBLESSEE at any time during or at the end of the Term, and the SUBLESSEE shall, at its own expense, repair all damages resulting from the installation or removal thereof. |
Todo bien que permanezca en la Propiedad Arrendada durante treinta (30) dias posteriores a la terminacion de este Contrato, sea que estuvieren instalados permanentemente en la Propiedad Arrendada o no, podran ser considerados abandonados a eleccion de la SUBARRENDADORA, y ella podra retenerlos en | Any property, being permanently affixed to the Leased Property or not, which remains in the Leased Property thirty (30) days after the termination of the Contract may, at the option of SUBLESSOR, be deemed to have been abandoned and either may be retained by SUBLESSOR as its property or be disposed of, without liability, in such manner as | ||
calidad de propietaria, o disponer de los mismos, segun lo considers pertinente, sin responsabilidad alguna a su cargo. | SUBLESSOR may see fit. | ||
NOVENA. RETENCION DE LA PROPIEDAD ARRENDADA | NINETH. HOLDING OVER | ||
La SUBARRENDATARIA entregara en forma inmediata la Propiedad Arrendada a la SUBARRENDADORA a la terminacion de este Contrato por expiracion de su plazo o por cualquier otra causa. | The SUBLESSEE shall at the termination of the Contract by lapse of time or otherwise, immediately deliver the possession of the Leased Property to SUBLESSOR. | ||
DECIMA. DISPOSICIONES AMBIENTALES | TENTH. ENVIRONMENTAL CLAUSE | ||
A partir de la fecha de firma de este Contrato, la SUBARRENDATARIA cumplira con todas las leyes, reglamentos y normas relativas al equilibrio ecologico y la proteccion al ambiente aplicables en relacion con el uso de la Propiedad Arrendada. | As of the date of execution hereof, the SUBLESSEE shall observe all laws and regulations regarding ecological equilibrium and environment protection applicable to the use of the Leased Property. | ||
La SUBARRENDADORA declara que en su leal saber y entender, la Propiedad Arrendada se encuentra actualmente libre de contaminacion. | SUBLESSOR states that, to the best of its knowledge, the Leased Property is currently free of contamination. | ||
DECIMA PRIMERA. DERECHO DE LA SUBARRENDADORA A LLEVAR A CABO LAS OBLIGACIONES DE LA SUBARRENDATARIA | ELEVENTH. SUBLESSOR'S RIGHT TO PERFORM SUBLESSEE'S COVENANTS |
Si la SUBARRENDATARIA incumple con alguna de sus obligaciones establecidas en este Contrato, la SUBARRENDADORA, una vez transcurridos diez (10) dias luego de haber dado aviso por escrito a la SUBARRENDATARIA respecto de dicho incumplimiento (o sin necesidad de dar aviso alguno en caso de emergencia) y sin que ello implique renuncia alguna por parte de la SUBARRENDADORA respecto de las obligaciones de la SUBARRENDATARIA pactadas en este Contrato, podra, sin estar obligada a ello, llevar a cabo dichas obligaciones de la SUBARRENDATARIA y podra entrar a la Propiedad Arrendada para dicho fin y llevar a cabo | If SUBLESSEE fails to perform any one or more of its obligations hereunder, SUBLESSOR, after ten (10) days written notice to SUBLESSEE (or without notice in the case of an emergency) and without waiving or releasing SUBLESSEE from any obligation of SUBLESSEE contained in this Contract, may but shall be under no obligation to perform any act on SUBLESSEE's part to be performed as provided in this Contract, and may enter upon the Leased Property for that purpose and take all such actions thereon as may be necessary to such effect. All reasonable sums paid by SUBLESSOR and all costs and expenses incurred by SUBLESSOR in connection with the performance of any such obligation of | ||
cuantas acciones sean necesarias al efecto. Todas las cantidades que razonablemente hubiere pagado la SUBARRENDADORA en relacion con costos y gastos incurridos por el cumplimiento de las obligaciones incumplidas por la SUBARRENDATARIA, deberan ser pagadas por la SUBARRENDATARIA a la SUBARRENDADORA dentro de los diez (10) dias siguientes a su cobro. | SUBLESSEE, shall be payable by SUBLESSEE to SUBLESSOR within ten (10) days after receiving notice. | ||
DECIMA SEGUNDA. DERECHO DE LA SUBARRENDATARIA A LLEVAR A CABO LAS OBLIGACIONES DE LA SUBARRENDADORA | TWELFTH. SUBLESSEE'S RIGHT TO PERFORM SUBLESSOR'S COVENANTS |
Si la SUBARRENDADORA incumple con alguna de sus obligaciones establecidas en este Contrato, la SUBARRENDATARIA, una vez transcurridos diez (10) dias luego de haber dado aviso por escrito a la SUBARRENDADORA respecto de dicho incumplimiento (o sin necesidad de dar aviso alguno en caso de emergencia) y sin que ello implique renuncia alguna por parte de la SUBARRENDATARIA respecto de las obligaciones de la SUBARRENDADORA pactadas en este Contrato, podra, sin estar obligada a ello, llevar a cabo dichas obligaciones de la SUBARRENDADORA y llevar a cabo cuantas acciones sean necesarias al efecto. Todas las cantidades que razonablemente hubiere pagado la SUBARRENDATARIA en relacion con costos y gastos incurridos por el cumplimiento de las obligaciones incumplidas por la SUBARRENDADORA, deberan ser pagadas por la SUBARRENDADORA a la SUBARRENDATARIA dentro de los diez (10) dias siguientes a su cobro. | If SUBLESSOR fails to perform any one or more of its obligations hereunder, SUBLESSEE, after ten (10) days written notice to SUBLESSOR (or without notice in the case of an emergency) and without waiving or releasing SUBLESSOR from any obligation of SUBLESSOR contained in this Contract, may but shall be under no obligation to perform any act on SUBLESSOR's part to be performed as provided in this Contract, and may take all such actions thereon as may be necessary to such effect. All reasonable sums paid by SUBLESSEE and all costs and expenses incurred by SUBLESSEE in connection with the performance of any such obligation of SUBLESSOR, will be payable by SUBLESSOR to SUBLESSEE within ten (10) days after receiving notice. |
DECIMA TERCERA. ACCESO A LA PROPIEDAD ARRENDADA POR PARTE DE LA SUBARRENDADORA | THIRTEENTH. ENTRY TO LEASED PROPERTY BY SUBLESSOR | ||
La SUBARRENDATARIA permitira a la SUBARRENDADORA y a la propietaria de la Propiedad Arrendada, y a sus respectivos representantes, el acceso a la Propiedad Arrendada | SUBLESSEE will allow SUBLESSOR and the owner of the Leased Premises and their respective representatives to enter into the Leased Property at all reasonable times for the purpose of inspecting same. | ||
todas las veces que sea razonablemente conveniente a fin de inspeccionarla. | |||
DECIMA CUARTA. ANUNCIOS | FOURTEENTH. SIGNS | ||
La SUBARRENDATARIA podra instalar en la Propiedad Arrendada los anuncios que requiera para sus operaciones. Cualquier otro anuncio distinto de los mencionados anteriormente que desee instalar la SUBARRENDATARIA, debera ser aprobado por escrito y con anticipacion por la SUBARRENDADORA. | The SUBLESSEE may place on the Leased Property or attach to the exterior of the Building its signs and other signs it may require for its operation. No other signs may be placed in or on the Leased Property without SUBLESSOR'S written consent. | ||
DECIMA QUINTA. NOTIFICACIONES | FIFTEENTH. NOTICES | ||
Siempre que sea necesario o conveniente para las partes entregar avisos o notificaciones a la otra parte conforme a lo previsto en este Contrato, dichos avisos o notificaciones, para ser validos, deberan ser entregados en forma personal, o mediante correo certificado o registrado con acuse de recibo, o mediante servicio de mensajeria reconocido, dirigidos a las siguientes direcciones: | Whenever it shall be necessary or desirable for one of the parties to serve any notice or demand upon the other pursuant to the provisions of this Contract, such notice or demand will be served personally, or by registered or certified mail, return receipt requested, or by reputable courier service addressed to: | ||
SUBARRENDADORA: Calle Colinas No. 11731 Parque Industrial El Florido, Seccion Colinas Delegacion La Presa Tijuana, B.C., Mexico 22680 | SUBLESSOR: Calle Colinas No. 11731 Parque Industrial El Florido, Seccion Colinas Delegacion La Presa Tijuana, B.C., Mexico 22680 | ||
SUBARRENDATARIA: Blvd. Agua Caliente 10470, Desp.# l Centro Comercial Barranquitas Col. Revolucion Tijuana, B.C. Mexico 22015 | SUBLESSEE: Blvd. Agua Caliente 10470, Desp,#l Centro Comercial Barranquitas Col. Revoluci6n Tijuana, B.C., Mexico 22015 | ||
DECIMA SEXTA. SUBTITULQS | SIXTEENTH. CAPTIONS | ||
Las partes convienen que los subtitulos utilizados en este Contrato son para efectos de facilitar la referencia de sus clausulas, por lo que no seran considerados parte del Contrato ni seran utilizados para efectos de su interpretacion. | The parties mutually agree that the headings and captions contained in this Contract are inserted for convenience of reference only and are not to be deemed part of or to be used in construing this Contract. |
DECIMA SEPTIMA. ACUERDOS ANTERIORES | SEVENTEENTH. PREVIOUS AGREEMENTS | ||
Este Contrato sustituye a cualquier y todos los contratos de arrendamiento que las partes hayan celebrado con anterioridad, otorgandose el mutuamente el finiquito mas amplio que en derecho proceda. El presente Contrato solamente podra modificarse mediante acuerdo escrito firmado por un representante debidamente autorizado de cada una de las partes. | This Contract substitutes any and all lease agreements previously existing between the parties, granting each other the fullest release as accepted by law. This Contract may only be amended through a written agreement signed by a duly authorized representative of each party. | ||
DEC1MAOCTAVA. LEY APLICABLE Y JURISDICCION | EIGHTEENTH. APPLICABLE LAW AND JURISDICTION | ||
Este Contrato sera interpretado de conformidad con lo previsto en el Codigo Civil del Estado de Baja California y demas leyes aplicables en el Estado de Baja California, Mexico, y las partes expresamente se someten a la jurisdiccion de los tribunales de Tijuana, Baja California, Mexico, renunciado a cualquier otro fuero que pudiere corresponderles. | This Contract will be interpreted in accordance with the provisions of the Civil Code and laws of the State of Baja California, Mexico, and both parties hereby expressly submit to the jurisdiction of the Courts of Tijuana, State of Baja California, Mexico, waiving any other forum that could correspond to them for any reason whatsoever. | ||
DEC1MA NOVENA. TRADUCCION | NINETEENTH. TRANSLATION | ||
Las partes convienen en que el presente Contrato se firma en Ios idiomas ingles y espanol. Las partes convienen que la version en espanol prevalecera en todo momento. | The parties agree that this Contract is executed in the English and Spanish languages. The parties agree that the Spanish version shall prevail in all events. | ||
EN TESTIMONIO DE LO ANTERIOR, | IN WITNESS WHEREOF | ||
Las partes manifiestan su consentimiento con el contenido de este Contrato, las parte lo firman el dia 23 de febrero de 2012. | The undersigned parties, through their duly authorized representatives, have executed this Contract on February 23, 2012. |
SUBARRENDADORA/SUBLESSOR PALL MEXICO MANUFACTURING, S. DE R.L. DE C.V. (Graphic Appears Here) Por:/ By: Leobardo Tenorio Malof |
Entity Name | Jurisdiction of Incorporation |
5D Information Management, Inc. | Delaware |
Arryx, Inc. | Nevada |
Global Med Technologies, Inc. | Colorado |
Haemonetics (Hong Kong) Limited | Hong Kong |
Haemonetics (Hong Kong) Limited Liaison Office | Haryana - India |
Haemonetics (UK) Limited | United Kingdom |
Haemonetics Asia Incorporated | Delaware |
Haemonetics Asia Incorporated Taiwan Branch | Unknown |
Haemonetics Asia UK Ltd. | England/Wales |
Haemonetics Asia, Inc. | Taipei - Taiwan |
Haemonetics Australia PTY Ltd. | Victoria |
Haemonetics Belgium NV | Brussels - Belgium |
Haemonetics BV | Breda - Netherlands |
Haemonetics Canada Ltd. | British Columbia |
Haemonetics CZ, spol. s.r.o. | Brno - Czech Republic |
Haemonetics France S.a.r.l | Plaisir - France |
Haemonetics GmbH | Munich - Germany |
Haemonetics Handelsgesellschaft m.b.H. | Vienna - Austria |
Haemonetics Healthcare India Private Limited | India |
Haemonetics Hospitalar Ltda. | Sao Paulo - Brazil |
Haemonetics International Finance S.a.r.l. | Luxembourg |
Haemonetics International Holdings GmbH | Luzern, Switzerland |
Haemonetics IP HC Sarl | Signy - Switzerland |
Haemonetics Italia s.r.l. | Milan - Italy |
Haemonetics Japan GK | Toyko - Japan |
Haemonetics Korea, Inc. | Seoul - Korea |
Haemonetics Limited | Bedfordshire - United Kingdom |
Haemonetics Manufacturing, Inc. | Delaware |
Haemonetics Massachusetts Security Corporation | Massachusetts |
Haemonetics Medical Devices (Shanghai) International Trading Co., Ltd. | Shanghai - China |
Haemonetics New Zealand Limited | New Zealand |
Haemonetics Produzione Italia S.r.l. | Italy |
Haemonetics Puerto Rico LLC | Puerto Rico |
Haemonetics S.A. | Signy - Switzerland |
Haemonetics S.A. Representative Office | Beirut - Lebanon |
Haemonetics S.A. Representative Office | Madrid |
Haemonetics S.A. Representative Office | Moscow - Russia |
Haemonetics Scandinavia AB | Lund - Sweden |
Haemonetics Singapore Pte. Ltd. | Singapore |
Haemoscope Corporation | Massachusetts |
Inlog SAS | France |
Inlog Deutschland GmbH | Germany |
Inlog Holdings France SAS | France |
Neoteric Technology (UK) Ltd. | Coventry - United Kingdom |
Transfusion Technologies Corporation | Delaware |
1. | I have reviewed this Annual Report on Form 10-K of Haemonetics Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
/s/ Brian Concannon | ||||
Brian Concannon, President and Chief Executive | ||||
Officer (Principal Executive Officer) |
1. | I have reviewed this Annual Report on Form 10-K of Haemonetics Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
/s/ Christopher Lindop | ||||
Christopher Lindop, Chief Financial Officer and | ||||
Executive Vice President Business Development (Principal Financial Officer) |
/s/ Brian Concannon | ||||
Brian Concannon, | ||||
President and Chief Executive Officer |
/s/ Christopher Lindop | ||||
Christopher Lindop, | ||||
Chief Financial Officer and Executive Vice President Business Development |
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