First Amendment To Build To Suit Lease

Exhibit 10.29


FIRST AMENDMENT
to
BUILD TO SUIT LEASE


The first amendment (this "Amendment") is entered into as of January 15, 2008, by and between MICRON TECHNOLOGY, INC., a Delaware corporation and PHOTRONICS, INC., a Connecticut corporation in connection with the Build to Suit Lease (the "Lease") between the Parties dated May 5, 2006. All capitalized terms used herein and not otherwise defined shall have the meaning ascribed to such terms in the Lease.


RECITALS


A. On May 5, 2006, the Parties entered into the Lease, and, in accordance with the terms thereof, Micron constructed the Micron Improvements upon the Land.


B. Effective as of January 1, 2008 the Parties entered into a Supplemental Agreement as provided for in Section 4.2(c) of the Lease setting forth the Lease Commencement Date and the Rent Commencement Date.


C. Section 3.1(a) of the Lease provides that the Parties shall enter into an amendment to the Lease to provide a legal description and depiction of the Land as Exhibits A and B to the Lease once the location of the Land has been identified.


D. Section 5.1(a) of the Lease provides that Micron shall prepare and deliver to Photronics the Lease Payment Schedule setting forth the quarterly Base Rent. Section 5.1(a) further provides that Base Rent shall be calculated based upon amortization of all Development Costs in an amount not to exceed xxxx (Material omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the Securities and Exchange Commission.)


E. The Parties desire to enter into this Amendment to amend the Rent Commencement Date, supply a legal description and depiction of the Land, establish a Lease Payment Schedule and increase the limit on Development Costs.


AGREEMENT


In consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt of which the Parties hereby acknowledge, the Parties hereby agree as follows:


1. The description attached hereto as Schedule A shall constitute Exhibit A to the Lease and shall be incorporated therein. The legal description attached hereto as Schedule B shall constitute E ...