SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 1.01. Entry into a Material Definitive Agreement.
On November 24, 2020, we entered into a Fifth Amendment to Lease (the “Amendment”) with 111 Lemon Investors LLC (as successor-in-interest to BF Monrovia, LLC, the “Landlord”), which amended that certain Lease by and between us and BF Monrovia, LLC, dated January 1, 2015, as amended (the “Lease”), effective as of October 31, 2020 and relating to our corporate headquarters and research and laboratory space located at 111 West Lemon Avenue, Monrovia, California (the “Premises”). The Amendment extends the term of the Lease, with respect to the second floor of the Premises, for 62 months through December 31, 2025. Under the terms of the Amendment, we are obligated to pay the Landlord an initial base monthly rent of approximately $55,289. The monthly base rent will increase annually by approximately three percent of the then-current base rent. Pursuant to the terms of the Amendment, we have the right, at our option and subject to certain conditions, to extend the term of the Lease for one additional period of five years following the expiration of the initial term. The Amendment also provides clarification regarding certain excess annual operating and tax expenses due pursuant to the terms of the Lease.
The foregoing summary is qualified in its entirety by reference to the Amendment, a copy of which will be filed as an exhibit to our Annual Report on Form 10-K for the period ended December 31, 2020.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 30, 2020
/s/ Celia Eckert
General Counsel & Corporate Secretary