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| CTCT > SEC Filings for CTCT > Form 8-K on 31-May-2012 | All Recent SEC Filings |
31-May-2012
Entry into a Material Definitive Agreement
On May 29, 2012, Constant Contact, Inc. (the "Company"), as tenant, entered into with Edward J. Conner, as landlord (the "Landlord"), a Lease (the "Lease") and a related Work Letter Agreement (the "Work Letter Agreement").
Under the Lease, the Company will lease from the Landlord approximately 7,898 square feet of office space at 85 Second Street, San Francisco, California. The initial term of the Lease will expire five years from the earlier of the Company's commencement of business on the premises or November 1, 2012. The Company has an option to extend the term of the Lease for one five-year period upon expiration of the initial term.
The base rent under the Lease will be $29,617.50 per month for the first year of the initial term and will be subject to annual increases up to a maximum of $32,250.16 per month during the fifth year of the initial term, provided that the Company will not be required to pay rent for the first month of the Lease. Base rent for any renewal term will be equal to the fair market rental value of the premises, as determined in accordance with the Lease. In addition to base rent, the Company will be responsible for certain operating expenses and real estate taxes, as specified in the Lease.
Under the Work Letter Agreement, the Landlord will pay to the Company $157,960 to be used for certain improvements to the premises, as described in the Work Letter Agreement.
The foregoing descriptions of the Lease and the Work Letter do not purport to be complete and are qualified in their entirety by reference to the Lease and the Work Letter Agreement, respectively, each of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2012.
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