Sample Business Contracts

Office Space Agreement - Kriegsman Capital Group LLC and CytRx Corp.

Free Customizable Lease Forms

Commercial Lease. Start a state-specific lease for the rental of commercial property. Specify the term and rent due, as well as whether the landlord or tenant is responsible for property taxes, insurance, and maintenance and repairs.
Commercial Sublease. When a tenant vacates commercial property before the lease term has expired, it may be able to rent the premises to a third party. The tenant would be the sublessor and the third party would be the sublessee. Besides preparing a sublease, both parties will want to review the provisions for assignment or subletting in the original lease agreement between the landlord and the sublessor.
Sublease Agreement. Tenants of residential property should prepare a sublease agreement if they are seeking to sublease a room or the entire apartment or house to a third party. All parties should review the original lease agreement to see if there are any restrictions on subletting or assigning the premises.
Triple Net Lease. Triple net leases are a type of commercial leases where the tenant has to pay for property taxes, insurance, utilities, and maintenance, in addition to the monthly rent.
Office Space Lease. When renting an office space, tenants should understand the amount of the rent and duration of the lease. Other important terms include whether the space can be subleased, which parties are responsible for maintenance, and whether any furniture and furnishings will be provided.

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[CYTRX CORPORATION LETTERHEAD]

February 11, 2002

Kriegsman Capital Group, LLC
11726 San Vicente Boulevard, Suite 650
Los Angeles, CA 90049
Attention: Steven A. Kriegsman

Re: Office Space

Dear Steve:

This letter reflects the agreement between Kriegsman Capital Group, LLC (“KCG”) and CytRx Corporation (“CytRx”) with respect to the payment of rent for office space and other related expenses in connection with your employment as CytRx’s Chief Executive Officer after the closing of the acquisition of Global Genomics Capital, Inc. (“GGC”) by CytRx via a merger of GGC Merger Corporation (“Merger Sub”) with and into GGC pursuant to that certain Agreement and Plan of Merger of even date herewith (the “Merger Agreement”) among CytRx, GGC and Merger Sub.

Effective as of the Effective Time (as defined in the Merger Agreement), CytRx shall pay KCG a reasonable monthly amount for office space and other expenses related to your employment with CytRx. The amount of such rent and other expenses shall be determined in good faith from time to time by the CytRx board of directors. In no event shall CytRx be liable for any such rent or other expenses if the Effective Time does not occur.

This letter agreement shall be governed by and construed in accordance with the laws of the State of California. This letter agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed one and the same document. This letter agreement may not be amended without the prior written consent of each of the parties hereto. This letter agreement may not be sold, assigned or transferred by any party hereto without the consent of the other parties hereto. Either party may terminate this letter agreement at any time upon thirty days prior written notice without any further liability among the parties hereto, other than rent and other expenses accrued through the effective time of such termination. This letter agreement shall terminate automatically and without any further action by the parties hereto upon the termination of your employment with CytRx and CytRx shall have no further liability to KCG hereunder other than rent and other expenses accrued through the date of such termination.

If this letter reflects your understanding of the agreement between the parties with respect to the subject matter hereof, please sign and date this letter below and return a copy to us for our records.

	Sincerely,

	CYTRX CORPORATION

	By:	/s/ JACK LUCHESE

	Name:	Jack Luchese
	Title:	President & CEO

Acknowledged and agreed as of the date hereof:

Kriegsman Capital Group, LLC

By:	/s/ STEVEN A. KRIEGSMAN

Name:	Steven A. Kriegsman
Title:	Chairman

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