Nautilus 2009 Annual Report Download - page 231

SUMMARY OF BASIC LEASE INFORMATION
This SUMMARY OF BASIC LEASE INFORMATION (the “Lease Summary”) is hereby incorporated into and made a part of the attached
Lease (this Lease Summary and the Lease to be known collectively as the “Lease”). In the event of a conflict between the terms of this Lease
Summary and the Lease, the terms of the Lease shall prevail. Any capitalized terms used in this Lease Summary and not otherwise defined in
this Lease Summary shall have the meanings ascribed to them in the Lease.
(1)
1.
Date
:
February 19, 2010
2.
Landlord
:
Nautilus, Inc., a Washington corporation
3.
Address of Landlord
:
Nautilus, Inc.
10400 SE Nautilus Drive
Vancouver, Washington 98683
Attention: Chief Financial Officer
Phone and telecopy: 360
-
859
-
5913
4.
Tenant
:
Med
-
Fit Systems, Inc.
a California corporation
5.
Address of Tenant
:
Med
-
Fit Systems, Inc.
543 E. Alvarado St.
Fallbrook, CA 92028
E-mail: [e-mail]
Attention: Dean Sbragia
6.
Premises
:
The term
“
Premises
”
means the Property (as defined below), the Buildings (as defined below), and
appurtenant improvements located on the Property. The term “Property” means the land described in
the legal description attached hereto as Exhibit A . The Property contains approximately 56 acres of
land.
7.
Buildings
:
The four buildings located on the Property (each, a
“
Building
”
and collectively, the
“
Buildings
”
).
8.
Term
.
(a) Lease Term: The period between the Commencement Date (as defined below) and December 31, 2012, subject to
earlier termination as provided in the Lease. The Lease Term may be extended pursuant to Section
13.6(g)
(b) Commencement Date:
The
“
Closing Date
”
as such term is defined in that certain Asset Purchase Agreement dated February
19, 2010 between Landlord and Tenant (the
“
APA
”
).
(c) Expiration Date:
December 31, 2012 (unless extended pursuant to Section 13.6(g)).
9.
Base Rent
:
$5,000 per month through August 31, 2010, and $40,000 per month thereafter, subject however, to an
adjustment to $22,000 per month pursuant to Sections 13.6(f) or 13.6(g).