Lease Agreement

Basic Lease Information

Lease Date: June 21, 2000

Landlord: PRINCIPAL DEVELOPMENT INVESTORS, LLC,
a Delaware limited liability company

Landlord's Address: c/o Legacy Partners Commercial, Inc.
101 Lincoln Centre Drive, Fourth Floor
Foster City, California 94404-1167

Tenant: ABAXIS, INC.,
a California corporation

Tenant's Address: 1320 Chesapeake Terrace
Sunnyvale, California 94089

Premises: Approximately 91,124 rentable square feet, which is the entirety of Building E as shown on Exhibit A

Premises Address: 3240 Whipple Road
Union City, California 94587

Building E: Approximately 91,124 rentable square feet

Lot: The tax parcel upon which Building E is situated

Park: Crossroads Technology Park: Approximately 322,238 rentable square feet

Phase I: Approximately 233,298 rentable square feet

Term: January 1, 2001 ("Commencement Date"), through
December 31, 2010 ("Expiration Date")

Base Rent (3): Sixty Eight Thousand Three Hundred Forty-Three and 00/100 Dollars ($68,343.00) per month

Adjustments to Base Rent: Commencing on January 1, 2002, the monthly Base Rent shall increase to $71,076.72;
Commencing on January 1, 2003, the monthly Base Rent shall increase to $73,919.79;
Commencing on January 1, 2004, the monthly Base Rent shall increase to $76,876.58;
Commencing on January 1, 2005, the monthly Base Rent shall increase to $79,951.64;
Commencing on January 1, 2006, the monthly Base Rent shall increase to $83,149.71;
Commencing on January 1, 2007, the monthly Base Rent shall increase to $86,475.70;
Commencing on January 1, 2008, the monthly Base Rent shall increase to $89,934.73;
Commencing on January 1, 2009, the monthly Base Rent shall increase to $93,532.12; and
Commencing on January 1, 2010, the monthly Base Rent shall increase to $97,273.40.

Advance Rent (3): Eighty Four Thousand One Hundred Ninety-Eight and 58/100 Dollars ($84,198.58)

Collateral for Tenant's
Performance Under the
Lease (4): Refer to Section 4 herein.

*Tenant's Share of Operating Expenses (6.1): 100% of the Building

*Tenant's Share of Tax Expenses (6.2): 100% of the Building

*Tenant's Share of Common Area Utility Costs (7.2): 100% of the Building

*Tenant's Share of Utility Expenses (7.1): 100% of the Building

*The amount of Tenant's Share of the expenses as referenced above shall be subject to modification as set forth in this Lease.

Permitted Uses (9): Office, biotechnology/pharmaceutical R&D, manufacturing, and related warehousing, but only to the extent permitted by the City of Union City, California, and all agencies and governmental authorities having jurisdiction thereof

Parking Spaces: Two hundred forty-six (246) non-exclusive and non- designated spaces (to be confirmed by Landlord's architect subject to final space plan).

Broker (33): BT Commercial and Technology Commercial for Tenant

BT Commercial for Landlord

Exhibits: Exhibit A - Premises, Building, Lot and/or Park
Exhibit B - Tenant Improvements
Exhibit C - Rules and Regulations

 

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