Exhibit 10.16
SIXTH AMENDMENT TO OFFICE LEASE
This SIXTH AMENDMENT TO OFFICE LEASE (this “Sixth Amendment”), is made and entered into as of November 21, 2023, by and between REDWOOD CITY PARTNERS, LLC, a Delaware limited liability company (“Landlord”), and BOX, INC., a Delaware corporation (“Tenant”).
R E C I T A L S:
A G R E E M E N T:
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows.
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| CROSSING/900 Sixth Amendment to Office Lease [Box, Inc.] |
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Period during Lease Term | Annual Base Rent | Monthly Installment of Base Rent | Monthly Rental Rate per Rentable Square Foot |
February 1, 2024 – End of Building A Lease Year 9 | $3,759,913.80 | $313,326.15 | $5.51 |
Building A Lease Year 10 | $3,872,711.16 | $322,725.93 | $5.68 |
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Building A Lease Year 11 | $3,988,892.52 | $332,407.71 | $5.85 |
Building A Lease Year 12 | $4,108,559.28 | $342,379.94 | $6.02 |
Building A Lease Year 13 – Lease Expiration Date | $4,231,816.08 | $352,651.34 | $6.20 |
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attached hereto, and shall cause the areas in which such sign was located to be restored to the condition existing immediately prior to the placement of such sign except for ordinary wear and tear, provided that Tenant shall obtain Landlord’s prior approval of the scope and plans for such removal and restoration work prior to performing any such work, and Tenant shall schedule a walk-through with Landlord for Landlord to identify any concerns or punch list items to be completed by Tenant with respect to such removal and restoration work, and (ii) after the Give- Back Date, Tenant shall have no further rights to such signage.
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in the Lobby in Building B, provided further that if and when Landlord updates Common Area signage in Building B, Landlord shall have the right to change such signage and branding to comply with Landlord's then Building standard signage requirements (the cost of which shall be included in Operating Expenses). Landlord and Tenant shall use commercially reasonable efforts to reach a mutual agreement on the building access and keycard system for Building B promptly following the Give-Back Date.
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If to Tenant:
Box, Inc.
900 Jefferson Ave.
Redwood City, CA 94063
Attn: Brenda Badal
Email: brenda@box.com
with a copy by email to: legalops@box.com
and with copies to:
Seyfarth Shaw LLP
233 S. Wacker Drive, Suite 8000
Chicago, Illinois 60606-6448
Attn: Kevin A. Woolf, Esq.
Email: kwoolf@seyfarth.com
and
Seyfarth Shaw LLP
620 Eighth Avenue
New York, New York 10018
Attn: Jason T. Polevoy, Esq.
Email: jpolevoy@seyfarth.com
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[signatures appear on following page]
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IN WITNESS WHEREOF, this Sixth Amendment has been executed as of the day and year first above written.
LANDLORD: | |
| |
REDWOOD CITY PARTNERS, LLC | |
a Delaware limited liability company | |
| |
By: | KR Redwood City Member, LLC, |
| a Delaware limited liability company, |
| Its: Managing Member |
By: | Kilroy Realty, L.P., |
| a Delaware limited partnership |
| Its: Sole Member |
By: | Kilroy Realty |
| Corporation a Maryland |
| corporation Its: General Partner |
By: | /s/ Rob Paratte |
Name: | Rob Paratte |
Its: | EVP, Leasing and Business Development |
|
|
By: | /s/ Eileen Kong |
Name: | Eileen Kong |
Its: | SVP, Asset Management |
|
|
TENANT: | |
| |
BOX, INC., | |
a Delaware corporation | |
| |
By: | /s/ Dylan Smith |
Name: | Dylan Smith |
Its: | CFO |
| |
By: |
|
Name: |
|
Its: |
|
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EXHIBIT A
LOCATION OF EXTERIOR EYEBROW SIGN ON BUILDING B ON MIDDLEFIELD ROAD
*Signage circled in red above is what is to be removed and restored.
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EXHIBIT B
LOCATION OF TERRACE AND EXCLUSIVE OUTDOOR PATIOS
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EXHIBIT C
SCHEDULE OF L-C AMOUNT BURNDOWNS
Reduction Date | L-C Burn Down Amt | Remaining L-C Amt |
|
| $13,000,000 |
Execution of this Sixth Amendment | $1,000,000 | $12,000,000 |
12/1/2023 | $2,000,000 | $10,000,000 |
12/1/2024 | $2,000,000 | $8,000,000 |
12/1/2025 | $2,000,000 | $6,000,000 |
12/1/2026 | $2,000,000 | $4,000,000 |
12/1/2027 | $2,000,000 | $2,000,000 |
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EXHIBIT D
OUTLINE OF REMAINING BUILDING B PREMISES
Building B – Ground Floor
Building B – Floor 3
Building B – Floor 4
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EXHIBIT E
OUTLINE OF STORAGE SPACE
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