Item 1.01 Entry into a Material Definitive Agreement.

On December 28, 2020, Simulations Plus, Inc., a California corporation (the "Company"), entered into a Third Amendment to Lease (the "Third Amendment") with Crest Development Group LLC (the "Landlord") to amend that certain lease of real property originally entered into on September 12, 2005 as amended in June 2013 and May 2016 (collectively, the "Lease") for that certain real property known as 42505 10th Street West, Ste. A in Lancaster, California (the "Premises"). The Premises serves as the Company's principal executive office.

The Third Amendment (i) extends the term of the Lease by approximately five years to January 31, 2026, (ii) decreases the leased square footage from 13,500 sq. ft to 9,255 sq. ft, (iii) correspondingly reduces the base rent from $25,000/month to $16,659/month and (iv) allows the Company to opt out of the last 4 years of the Lease upon 180-day notice to the Landlord with no penalty.

The foregoing description of the terms of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.






  (d) Exhibits.




Exhibit
  No.     Description

10.1        Third Amendment to Lease, dated as of December 28, 2020.

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