Item 1.02. Termination of a Material Definitive Agreement.

On December 11, 2020, Frequency Therapeutics, Inc. (the "Company") entered into an Agreement for Termination of Lease and Voluntary Surrender of Premises with ARE-MA Region No. 20, LLC ("Landlord") for certain premises located at 19 Presidential Way, Woburn Massachusetts (the "Lease Termination Agreement"). The Lease Termination Agreement provides that the Lease Agreement, dated as of August 24, 2016, by and between the Company and Landlord (as the same may have been amended, the "Lease") will terminate on March 30, 2021, unless the Company elects to extend the termination date of the Lease until June 30, 2021.

As consideration for Landlord's agreement to enter into the Lease Termination Agreement and accelerate the expiration date of the term of the Lease, the Company has agreed to pay to Landlord a fee of approximately $0.2 million.

The foregoing description of the Lease Termination Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease Termination Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.




(d) Exhibits



Exhibit No.                                  Description

10.1                Agreement for Termination of Lease and Voluntary Surrender of
                  Premises, dated December 11, 2020, by and between Frequency
                  Therapeutics, Inc. and ARE-MA-Region No. 20, LLC.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses