Exhibit 10.15(d)
FOURTH AMENDMENT TO LEASE
This FOURTH AMENDMENT TO LEASE (“Fourth Amendment”) is dated for reference purposes September 23, 2009
and is entered into by and between ProLogis California I LLC, a Delaware limited liability company
(“Landlord”), and Skechers USA, Inc., a Delaware corporation (“Tenant”).
RECITALS
WHEREAS Landlord and Tenant are parties to that certain Lease dated as of November 21, 1997,
as amended by that certain First Amendment to Lease dated April 26, 2002 and that Second Amendment
to Lease dated December 10, 2007 and that Third Amendment to Lease dated January 29, 2009
(collectively, as amended, the “Lease”) whereby Landlord leased to Tenant that certain Premises
containing approximately 127,799 rentable square feet of that certain building commonly known as
Ontario Distribution Center #4 located at 1661 S. Vintage Avenue, Ontario, California 91761 (the
“Premises”), all as more particularly described in the Lease. All capitalized terms used and not
otherwise defined herein shall have the meanings given those terms in the original Lease, and or
subsequent amendments, as applicable.
WHEREAS Tenant and Landlord desire to amend the Lease, including but not limited to the
extension of the Lease Term, pursuant to this Fourth Amendment.
NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties agree to amend the Lease as follows:
1. The Term of the Lease is extended for twelve (12) months (“Fourth Extension Term”) which
shall commence on January 1, 2010 and shall terminate December 31, 2010. All of the terms and
conditions of the Lease shall remain in full force and effect during the Fourth Extension Term except that the Monthly Base
Rent shall be as follows:
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Monthly Base Rent |
January 1, 2010 - December 31, 2010 |
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$40,895.68 |
2. Landlord shall provide Tenant with two (2) Renewal Options at a Fixed Rate per the terms
and conditions outlined in Addendum 1 attached to this Fourth Amendment.
3. Tenant shall accept the Premises and all systems serving the Premises in an “AS-IS”
condition and Landlord shall have no obligation to refurbish or otherwise improve the Premises for
the Fourth Extension Term.
4. The One Renewal Option at a Fixed Rate outlined in Addendum 1 of the Third Amendment to
Lease shall be considered null and void and shall have no further force or effect.
5. Except as modified herein, the Lease, and all of the terms and conditions thereof, shall
remain in full force and effect.
6. Any obligation or liability whatsoever of ProLogis, a Maryland real estate investment
trust, which may arise at any time under the Lease or this Agreement or any obligation or liability
which may be incurred by it pursuant to any other instrument, transaction or undertaking
contemplated hereby, shall not be personally binding upon, nor shall resort for the enforcement
thereof be had to the property of, its trustees, directors, shareholders, officers, employees, or
agents regardless of whether such obligation or liability is in the nature of contract, tort or
otherwise.
IN WITNESS WHEREOF, the parties hereto have signed this Fourth Amendment to Lease as of the
day and year first above written.
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| TENANT: |
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LANDLORD: |
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Skechers USA, Inc.,
a Delaware corporation |
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ProLogis California I LLC, a Delaware limited
liability company |
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By:
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ProLogis Management Incorporated
a Delaware corporation
its Agent |
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By:
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/s/ Paul K. Galliher
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By:
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/s/ Pat Cavanagh |
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Name: Paul K. Galliher |
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Name: Pat Cavanagh |
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Title: SVP Global Distribution |
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Title: Senior Vice President |
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ADDENDUM 1
TWO RENEWAL OPTIONS AT A FIXED RATE
ATTACHED TO AND A PART OF THE FOURTH AMENDMENT
DATED SEPTEMBER 23, 2009 BETWEEN
ProLogis California I LLC
and
Skechers USA, Inc.
(a) Provided that as of the time of the giving of the Fifth Extension Notice and the
Commencement Date of the Fifth Extension Term, (x) Tenant is the Tenant originally named herein,
(y) Tenant actually occupies all of the Premises initially demised under this Lease and any space
added to the Premises, and (z) no Event of Default exists or would exist but for the passage of
time or the giving of notice, or both; then Tenant shall have the right to extend the Lease Term
for an additional term of three (3) months (such additional term is hereinafter called the
“Fifth Extension Term”) commencing on the day following the expiration of the Fourth
Extension Term (hereinafter referred to as the “Commencement Date of the Fifth Extension
Term”). Tenant shall give Landlord notice (hereinafter called the “Fifth Extension
Notice”) of its election to extend the term of the Lease Term at least six (6) months (not
later than June 30, 2010), but not more than eight (8) months (not sooner than May 1,2010), prior
to the scheduled expiration date of the Fourth Extension Term.
(b) Provided that as of the time of the giving of the Sixth Extension Notice and the
Commencement Date of the Sixth Extension Term, (x) Tenant is the Tenant originally named herein,
(y) Tenant actually occupies all of the Premises initially demised under this Lease and any space
added to the Premises, and (z) no Event of Default exists or would exist but for the passage of
time or the giving of notice, or both; then Tenant shall have the right to extend the Lease Term
for an additional term of three (3) months (such additional term is hereinafter called the
“Sixth Extension Term”) commencing on the day following the expiration of the Fifth
Extension Term (hereinafter referred to as the “Commencement Date of the Sixth Extension
Term”). Tenant shall give Landlord notice (hereinafter called the “Sixth Extension
Notice”) of its election to extend the term of the Lease Term at least six (6) months (not
later than September 30, 2010), but not more than eight (8) months (not sooner than August 1,2010),
prior to the scheduled expiration date of the Fifth Extension Term.
(c) The Base Rent payable by Tenant to Landlord during the Fifth Extension Term shall be
$40,895.68 per month on a NNN basis.
(d) The Base Rent payable by Tenant to Landlord during the Sixth Extension Term shall be
$40,895.68 per month on a NNN basis.
(e) The determination of Base Rent does not reduce the Tenant’s obligation to pay or reimburse
Landlord for operating expenses and other reimbursable items as set forth in the Lease, and Tenant
shall reimburse and pay Landlord as set forth in the Lease with respect to such operating expenses
and other items with respect to the Premises during the Fifth Extension Term and Sixth Extension
Term without regard to any cap on such expenses set forth in the Lease.
(f) Except for the Base Rent as determined above, Tenant’s occupancy of the Premises during
the Fifth Extension Term and Sixth Extension Term shall be on the same terms and conditions as are
in effect immediately prior to the expiration of the Fourth Extension Term; provided, however,
Tenant shall have no further right to any allowances, credits or abatements or any options to
expand, contract, renew or extend the Lease.
(g) If Tenant does not give the Fifth Extension Notice within the period set forth in
paragraph (a) above, Tenant’s right to extend the Lease Term for the Fifth Extension Term shall
automatically terminate. If Tenant does not give the Sixth Extension Notice within the period set
forth in paragraph (b) above, Tenant’s right to extend the Lease Term for the Sixth Extension Term
shall automatically terminate. Time is of the essence as to the giving of the Fifth Extension
Notice and Sixth Extension Notice.
(h) Landlord shall have no obligation to refurbish or otherwise improve the Premises for the
Fifth Extension Term or Sixth Extension Term. The Premises shall be tendered on the Commencement Date of the Fifth
Extension Term or Sixth Extension Term (if applicable) in “As-Is” condition.
(i) If the Lease is extended for the Fifth Extension Term or Sixth Extension Term, then
Landlord shall prepare and Tenant shall execute an amendment to the Lease confirming the extension of the Lease Term
and the other provisions applicable thereto (the “Amendment”).
(j) If Tenant exercises its right to extend the term of the Lease for the Fifth
Extension Term or Sixth Extension Term pursuant to this Addendum, the term “Lease Term” as used in
the Lease, shall be construed to include, when practicable, the Fifth Extension Term or Sixth
Extension Term, as applicable, except as provided in (e) above.