Item 1.01 Entry into a Material Definitive Agreement.
On December 7, 2020, Peck Electric Co., a Vermont corporation ("Peck Electric")
and a wholly-owned subsidiary of The Peck Company Holdings, Inc., a Delaware
corporation (the "Company") entered into a Lease Agreement (the "Lease") with
Unsworth Properties, LLC, a Vermont limited liability as Agent for Meach, LLC,
306 West Indian, LLC, Cooper Two, LLC, Trek Communities, LLC, Masthead, LLC, and
Stephen and Shona Unsworth (the "Landlord"), pursuant to which Peck Electric
agreed to lease approximately 12,725 square feet of general office and warehouse
space in Williston, Vermont. The term of the Lease is ten years, and, unless
otherwise modified, the Lease will end on December 31, 2030. Commencing on
January 1, 2021 the Peck Electric's monthly base rent obligation will be
approximately $9,013.54, which amount will increase annually in accordance with
the terms of the Lease. In addition, Peck Electric will pay its proportionate
share of the NNN Expenses (as defined in the Lease). The Lease contains
customary provisions for real property leases of this type, including provisions
allowing the Landlord to terminate the Lease upon a default by Peck Electric.
The foregoing description of the Lease does not purport to be complete and is
qualified in its entirety by reference to the full text of the Lease filed as
Exhibit 10.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Lease Agreement, dated December 7, 2020 between Peck Electric Co. and
Unsworth Properties, LLC, a Vermont limited liability as Agent for Meach,
LLC, 306 West Indian, LLC, Cooper Two, LLC, Trek Communities, LLC,
Masthead, LLC, and Stephen and Shona Unsworth
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