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NBIX > SEC Filings for NBIX > Form 8-K on 1-Oct-2009All Recent SEC Filings

Show all filings for NEUROCRINE BIOSCIENCES INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for NEUROCRINE BIOSCIENCES INC


1-Oct-2009

Entry into a Material Definitive Agreement


Item 1.01. Entry into a Material Definitive Agreement.

On September 25, 2009, Neurocrine Biosciences, Inc., a Delaware corporation (the "Company"), entered into a Second Amendment to Lease (the "Lease Amendment") with DMH Campus Investors, LLC, a Delaware limited liability company ("DMH"). The Company and DMH are parties to a lease agreement, dated December 4, 2007, as amended, pursuant to which the Company leases its corporate headquarters located at 12790 El Camino Real (the "Front Building") and 12780 El Camino Real (the "Rear Building") in San Diego, California (the "Lease"). The Lease Amendment amends the Lease to provide that the Company shall vacate the Front Building and shall make an immediate payment of $4 million to DMH as an initial release fee. The Company will continue to occupy the entire Rear Building. Upon payment of the initial release fee, the Company shall be released from its obligations with respect to the Front Building, except with respect to 1) certain indemnity obligations for events prior to the payment of the initial release fee, 2) certain operating expenses for the Front Building in accordance with the terms of the Lease through July 2011, and 3) 50% of tenant improvement costs between $65 and $100 per square foot in connection with new leases between DMH and other third parties for space in the Front Building. Pursuant to the Lease Amendment the Company is also obligated to pay DMH approximately $44,000 per month beginning in August 2011 through December 2019 as a rent differential payment for the Front Building, which such amounts may be prepaid by the Company in its sole discretion. A copy of the Lease Amendment is attached as Exhibit 10.1 hereto and is incorporated herein by reference. Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Number    Description

10.1      Second Amendment to Lease, dated September 25, 2009, by and between
          Neurocrine Biosciences, Inc. and DMH Campus Investors, LLC.


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