Item 1.01 Entry into a Material Definitive Agreement

On February 24, 2020, Dasan Zhone Solutions, Inc. (the "Company") entered into two separate Agreements of Sublease (the "Subleases") with Huawei Technologies USA Inc. ("Huawei") and Futurewei Technologies, Inc. ("Futurewei," together with Huawei, the "Sublessors"), respectively, for two suites located on the fourth floor of the building known as Legacy Place, 5700 Tennyson Parkway, Plano, Texas (the "Premises"). The Subleases are subject to that certain Office Lease dated October 7, 2009 by and between Equus Investment Partnership XI, L.P., as successor-in-interest to Legacy Acquisition, L.P., and Huawei, as amended, and that certain Office Lease dated December 14, 2017 by and between Equus Investment Partnership XI, L.P., as successor-in-interest to L&B CIP Legacy Place I & II, LLC, and Futurewei, respectively.

The Subleases cover premises which, together, consist of 16,333 rentable square feet. Both Subleases are expected to commence in March, 2020 and terminate on November 30, 2025. The Company does not have any option to extend the term of either of the Subleases. The Subleases provide that the base rent will be abated until July 1, 2020. Beginning on July 1, 2020, the aggregate base monthly rent payments due under the Subleases will be $21,777.33, subject to an annual increase of $0.50 per rentable square foot per annum thereafter. The Company is also responsible for certain other costs under the Subleases including operating expenses, insurance and utilities.

The foregoing is a summary description of certain terms of the Subleases and is qualified in its entirety by reference to the full text of each Sublease, copies of which are filed as Exhibit 10.1 and Exhibit 10.2 hereto and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits:





10.1    Agreement of Sublease dated February 24, 2020 by and between Huawei
      Technologies, Inc. and Dasan Zhone Solutions, Inc.




10.2    Agreement of Sublease dated February 24, 2020 by and between Futurewei
      Technologies, Inc. and Dasan Zhone Solutions, Inc.

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