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Exhibit 10.68

AMENDMENT NO. 1 TO AMENDED, RESTATED AND CONSOLIDATED
MASTER LEASE OF LAND AND IMPROVEMENTS

    THIS AMENDMENT NO. 1 TO AMENDED, RESTATED AND CONSOLIDATED MASTER LEASE OF LAND AND IMPROVEMENTS (this "Amendment"), dated as of October 8, 1999, is entered into by and between:


RECITALS

    A.  Tenant and Landlord are parties to that certain Amended, Restated and Consolidated Master Lease of Land and Improvements, dated as of August 11, 1999 (the "Lease").

    B.  In connection with the Lease, Landlord entered into a Participation Agreement, dated as of August 11, 1999, with Tenant, certain financial institutions from time to time parties thereto (the "Rent Purchasers") and ABN AMRO Bank N.V., as agent for the Rent Purchasers (in such capacity, "Administrative Agent"), and a Rent Purchase Agreement, dated as of August 11, 1999, with the Rent Purchasers and Administrative Agent, pursuant to which the Rent Purchasers purchased an interest in the Lease from Landlord.

    C.  Tenant has requested that the insurance provisions in the Lease be amended and Landlord is willing so to amend the Lease upon the terms and subject to the conditions set forth in this Amendment.


AGREEMENT

    NOW, THEREFORE, in consideration of the above recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Tenant and Landlord hereby agree as follows:

    1.  Definitions, Interpretation.  All capitalized terms defined above and elsewhere in this Amendment shall be used herein as so defined. Unless otherwise defined herein, all other capitalized terms used herein shall have the respective meanings given to those terms Appendix A to the Lease. The rules of construction set forth in Appendix A to the Lease shall, to the extent not inconsistent with the terms of this Amendment, apply to this Amendment and are hereby incorporated by reference.

    2.  Amendments to Lease.  Subject to the satisfaction of the conditions set forth in Paragraph 5 below, the Lease is hereby amended as follows:



    3.  Waiver.  Subject to the satisfaction of the conditions set forth in Paragraph 5 below, Landlord hereby waives any Event of Default arising out of Tenant's failure to provide earthquake insurance with a deductible of not more than $1,000,000 or a certificate of insurance stating that coverage will not be canceled without thirty (30) days' prior written notice.

    4.  Representations and Warranties.  Tenant hereby represents and warrants to Landlord, the Rent Purchasers and Administrative Agent that the following are true and correct on the date of this Amendment and that, after giving effect to the amendments set forth in Paragraph 2 above, the following will be true and correct on the Effective Date (as defined below):

(Without limiting the scope of the term "Operative Documents," Tenant expressly acknowledges in making the representations and warranties set forth in this Paragraph 4 that, on and after the date hereof, such term includes this Amendment.)

    5.  Effective Date.  The amendments effected by Paragraph 2 above and the waiver effected by Paragraph 3 above shall become effective on the date (the "Effective Date") that Landlord and Administrative Agent receive each of the following, each in form and substance satisfactory to Landlord and Administrative Agent and their respective counsel:

    6.  Effect of this Amendment.  On and after the Effective Date, each reference in the Lease and the other Operative Documents to the Lease shall mean the Lease as amended hereby. Except as specifically amended above, (a) the Lease and the other Operative Documents shall remain in full force and effect and are hereby ratified and affirmed and (b) the execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power, or remedy of Landlord, the Rent Purchasers or Administrative Agent, nor constitute a waiver of any provision of the Lease or any other Operative Document.

    7.  Miscellaneous.  

2


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    IN WITNESS WHEREOF, Tenant and Landlord have caused this Amendment to be executed as of the day and year first above written.

TENANT:   ADOBE SYSTEMS INCORPORATED

 

 

By:

 

/s/ 
HAROLD L. COVERT   
        Name: Harold L. Covert
Title:
Executive Vice President and CFO

LANDLORD:

 

SUMITOMO BANK LEASING AND FINANCE, INC.

 

 

By:

 

/s/ 
BRETT DELONG   
        Name: Brett DeLong
Title:
Managing Director

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CONSENT TO AMENDMENT

    The undersigned hereby consents to the execution of Amendment No. 1 to Amended, Restated and Consolidated Master Lease of Land and Improvements between Adobe Systems Incorporated, as Tenant, and Sumitomo Bank Leasing and Finance, Inc., as Landlord, in the form attached hereto as Exhibit A and to the amendment and waiver contained therein.

RENT PURCHASERS:   ABN AMRO BANK N.V.    

 

 

By:

/s/ 
JAMIE DILLON   
    Name: Jamie Dillon
Title:
Group Vice President

 

 

By:

/s/ 
NIA M. MILLER   
    Name: Nia M. Miller
Title:
Assistant Vice President

 

 

Date: October 8, 1999

 

 

BANK OF AMERICA, N.A.

 

 

By:

/s/ 
JAMES KORHOMEN   
    Name: James Korhomen
Title:

 

 

Date: October 6, 1999

 

 

BANK HAPOALIM B.M.

 

 

By:

/s/ 
JOHN RIO   

 

/s/ 
PAUL WATSON   
     
    Name: John Rio   Paul Watson
    Title: Vice President   Vice President

 

 

Date: October 8, 1999

 

 

BANK OF MONTREAL

 

 

By:

  

    Name:
Title:

 

 

Date:

5



 

 

BANQUE NATIONALE DE PARIS

 

 

By:

/s/ MICHAEL D. MCCORRISTON

 

/s/ 
JEFFREY S. KAJISA   
     
    Name: Michael D. McCorriston   Jeffrey S. Kajisa
    Title: Vice President   Vice President

 

 

Date: October 8, 1999

 

 

BANK ONE, NA (f/k/a THE FIRST NATIONAL BANK OF CHICAGO)

 

 

By:

/s/ 
MARK A. ISLEY   
    Name: Mark A. Isley
Title:
First Vice President

 

 

Date: October 8, 1999

 

 

FIRST UNION NATIONAL BANK

 

 

By:

/s/ 
PAUL L. MILLER   
    Name: Paul L. Miller
Title:
Vice President

 

 

Date: October 6, 1999

 

 

FLEET NATIONAL BANK

 

 

By:

/s/ 
MATHEW M. GLAUNINGER   
    Name: Mathew M. Glauninger
Title:
Senior Vice President

 

 

Date: October 5, 1999

 

 

THE INDUSTRIAL BANK OF JAPAN, LIMITED

 

 

By:

/s/ 
HEN IWAPA   
    Name: Hen Iwapa
Title:
Senior Vice President and Manager
   

 

 

Date: October 8, 1999

 

 

6



 

 

KEYBANK NATIONAL ASSOCIATION

 

 

By:

/s/ 
MARY K. YOUNG   
    Name: Mary K. Young
Title:
Assistant Vice President
   

 

 

Date: October 5, 1999

 

 

 

 

MELLON BANK, N.A.

 

 

By:

/s/ 
LAWRENCE C. IVEY   
    Name: Lawrence C. Ivey
Title:
Vice President
   

 

 

Date: October 7, 1999

 

 

 

 

THE NORTHERN TRUST COMPANY

 

 

By:

/s/ 
DAVID J. MITCHELL   
    Name: David J. Mitchell
Title:
Vice President
   

 

 

Date: October 7, 1999

 

 

 

 

THE ROYAL BANK OF SCOTLAND PLC

 

 

By:

/s/ 
KAREN L. STEFANCIC   
    Name: Karen L. Stefancic
Title:
Vice President
   

 

 

Date: October 8, 1999

 

 

7



 

 

UBS AG, Stamford Branch

 

 

 

 

By:

/s/ 
ROBERT H. RILEY III   
    Name: Robert H. Riley III
Title:
Executive Director
   

 

 

By:

/s/ 
WILFRED SAINT   
    Name: Wilfred Saint
Title:
Associate Director, Loan Portfolio
          Support, US
   

 

 

Date: October 8, 1999

 

 

8



EXHIBIT A

AMENDMENT NO. 1 TO AMENDED, RESTATED AND CONSOLIDATED
MASTER LEASE OF LAND AND IMPROVEMENTS

    THIS AMENDMENT NO. 1 TO AMENDED, RESTATED AND CONSOLIDATED MASTER LEASE OF LAND AND IMPROVEMENTS (this "Amendment"), dated as of            , 1999, is entered into by and between:


RECITALS

    A.  Tenant and Landlord are parties to that certain Amended, Restated and Consolidated Master Lease of Land and Improvements, dated as of August 11, 1999 (the "Lease").

    B.  In connection with the Lease, Landlord entered into a Participation Agreement, dated as of August 11, 1999, with Tenant, certain financial institutions from time to time parties thereto (the "Rent Purchasers") and ABN AMRO Bank N.V., as agent for the Rent Purchasers (in such capacity, "Administrative Agent"), and a Rent Purchase Agreement, dated as of August 11, 1999, with the Rent Purchasers and Administrative Agent, pursuant to which the Rent Purchasers purchased an interest in the Lease from Landlord.

    C.  Tenant has requested that the insurance provisions in the Lease be amended and Landlord is willing so to amend the Lease upon the terms and subject to the conditions set forth in this Amendment.


AGREEMENT

    NOW, THEREFORE, in consideration of the above recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Tenant and Landlord hereby agree as follows:

    1.  Definitions, Interpretation.  All capitalized terms defined above and elsewhere in this Amendment shall be used herein as so defined. Unless otherwise defined herein, all other capitalized terms used herein shall have the respective meanings given to those terms Appendix A to the Lease. The rules of construction set forth in Appendix A to the Lease shall, to the extent not inconsistent with the terms of this Amendment, apply to this Amendment and are hereby incorporated by reference.

    2.  Amendments to Lease.  Subject to the satisfaction of the conditions set forth in Paragraph 5 below, the Lease is hereby amended as follows:


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    3.  Waiver.  Subject to the satisfaction of the conditions set forth in Paragraph 5 below, Landlord hereby waives any Event of Default arising out of Tenant's failure to provide earthquake insurance with a deductible of not more than $1,000,000 or a certificate of insurance stating that coverage will not be canceled without thirty (30) days' prior written notice.

    4.  Representations and Warranties.  Tenant hereby represents and warrants to Landlord, the Rent Purchasers and Administrative Agent that the following are true and correct on the date of this Amendment and that, after giving effect to the amendments set forth in Paragraph 2 above, the following will be true and correct on the Effective Date (as defined below):

(Without limiting the scope of the term "Operative Documents," Tenant expressly acknowledges in making the representations and warranties set forth in this Paragraph 4 that, on and after the date hereof, such term includes this Amendment.)

    5.  Effective Date.  The amendments effected by Paragraph 2 above and the waiver effected by Paragraph 3 above shall become effective on the date (the "Effective Date") that Landlord and Administrative Agent receive each of the following, each in form and substance satisfactory to Landlord and Administrative Agent and their respective counsel:

    6.  Effect of this Amendment.  On and after the Effective Date, each reference in the Lease and the other Operative Documents to the Lease shall mean the Lease as amended hereby. Except as specifically amended above, (a) the Lease and the other Operative Documents shall remain in full force and effect and are hereby ratified and affirmed and (b) the execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power, or remedy of Landlord, the Rent Purchasers or Administrative Agent, nor constitute a waiver of any provision of the Lease or any other Operative Document.

10


    7.  Miscellaneous.  

11


    IN WITNESS WHEREOF, Tenant and Landlord have caused this Amendment to be executed as of the day and year first above written.

TENANT:   ADOBE SYSTEMS INCORPORATED

 

 

By:

 

  

        Name:
Title:

LANDLORD:

 

SUMITOMO BANK LEASING AND FINANCE, INC.

 

 

By:

 

  

        Name:
Title:

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QuickLinks

AMENDMENT NO. 1 TO AMENDED, RESTATED AND CONSOLIDATED MASTER LEASE OF LAND AND IMPROVEMENTS
RECITALS
AGREEMENT
CONSENT TO AMENDMENT
EXHIBIT A AMENDMENT NO. 1 TO AMENDED, RESTATED AND CONSOLIDATED MASTER LEASE OF LAND AND IMPROVEMENTS
RECITALS
AGREEMENT