Item 1.01 Entry into a Material Definitive Agreement
On June 30, 2022, Zebra Technologies Corporation (the "Company") and Griffin
(Lincolnshire) Essential Asset REIT II, LLC (the "Landlord" and, together with
the Company, the "Parties") as successor-in-interest to The Northwestern Mutual
Life Insurance Company (the "Original Landlord") entered into a Second Amendment
to Lease Agreement (the "Second Lease Amendment"), whereby the Parties modified
that certain Lease Agreement dated November 15, 2013 entered into between the
Company and the Original Landlord, as amended on June 9, 2014 (the "Original
Lease"), whereby the Company leases its corporate headquarters at 3 Overlook
Point, Lincolnshire Corporate Center, Lincolnshire, Illinois. The Second Lease
Amendment provides for, among other things, (a) an extension of the lease term
until July 31, 2032 (the Original Lease was set to expire on November 30, 2026),
(b) a modification to the optional extension provisions of the Lease, such that
the Company will have the option to extend the term of the Lease for one
additional five-year period, beginning on August 1, 2032, and (c) adjustments to
the base rental amounts payable by the Company to the Landlord during the term
of the Second Lease Amendment, commencing as of June 1, 2022.
This current report on Form 8-K summarizes the material provisions of the Second
Lease Amendment and is qualified in its entirety by reference to the full text
of such agreement, which will be filed as an exhibit to the Company's Quarterly
Report on Form 10-Q for the fiscal quarter ended July 2, 2022.
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