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.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses