PEGASYSTEMS INC
LETTER DATED 11/5/2002 RE: LEASE
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<DESCRIPTION>LETTER DATED 11/5/2002 RE: LEASE
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<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Exhibit 10.24 </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">November 5, 2002 </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Pegasystems Inc. </FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">101 Main Street </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT
FACE="Times New Roman" SIZE="2" COLOR="#000000">Cambridge, Massachusetts 02142 </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Attention: Mr. Christopher
Sullivan </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%"> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Re:</FONT></TD>
<TD WIDTH="1%" VALIGN="top"> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Lease dated February 26, 1993 with NOP Riverfront LLC, as successor in interest to Riverfront Office Park Joint Venture, and Pegasystems Inc. (as amended, the
&#147;Lease&#148;) regarding space at 101 Main Street, Cambridge, Massachusetts </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Dear</FONT></TD>
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<TD ALIGN="left" VALIGN="top"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Chris: </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">You have advised us about a change in the anticipated schedule for Pegasystems to make tenant improvements in its space at 101 Main
Street. Paragraphs 1(e) and 1(f) of Amendment No. 8 to Agreement of Lease dated July 31, 2002 contemplate that Pegasystems would perform certain improvements and requisition the Finish Work Allowance and the Additional Allowance no later than May
16, 2004. This letter will confirm the Landlord&#146;s agreement that (a) the May 16, 2004 outside date will apply to 20% of each such allowance, and (b) Pegasystems will requisition at least an additional 20% of each such allowance each anniversary
thereafter through May 16, 2008, provided that the Landlord reserves the right not to fund any such requisition for work in connection with any sublease or assignment (other than to a Successor as defined in Section 14.3 of the Lease). Capitalized
terms used and not defined herein have the meanings set forth in the Lease. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <P STYLE="margin-top:0px;margin-bottom:0px"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Sincerely,</FONT></P></TD></TR>
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<TD HEIGHT="16"></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center" WIDTH="43%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">/s/&nbsp;&nbsp;&nbsp;&nbsp;S<SMALL>HAY</SMALL> S<SMALL>IMS</SMALL>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000" ALIGN="left"></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center" WIDTH="43%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"> <FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Shay Sims</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"> <FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Property Manager</B></FONT></P></TD></TR>
</TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000">Acknowledged and Agreed: </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">P<SMALL>EGASYSTEMS</SMALL> I<SMALL>NC</SMALL>.</FONT></P></TD></TR>
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<TD HEIGHT="16"></TD></TR>
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<TD VALIGN="top" ALIGN="center" WIDTH="3%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">By:</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="3%"> <FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"> <FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">/s/&nbsp;&nbsp;&nbsp;&nbsp;C<SMALL>HRIS</SMALL> S<SMALL>ULLIVAN</SMALL></FONT></P><HR
SIZE="1" NOSHADE COLOR="#000000" ALIGN="left"></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center" WIDTH="43%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"> <FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Chris Sullivan</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"> <FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>CFO</B></FONT></P></TD></TR>
</TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000">C:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michael Francis </FONT></P>
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