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| GUID > SEC Filings for GUID > Form 8-K on 27-Jul-2012 | All Recent SEC Filings |
27-Jul-2012
Entry into a Material Definitive Agreement, Financial Statements and Exhi
On July 26, 2012, Guidance Software, Inc. (the "Company") entered into an Office Lease Agreement (the "Lease") with 1055 East Colorado - Pasadena, CA L.P., a Delaware limited partnership ("Landlord"), to lease 86,790 rentable square feet (the "Premises") of an office building located at 1055 East Colorado Boulevard, Pasadena, California 91106 (the "Building"). The Lease begins on August 1, 2013 and has an initial term of ten years and ten months. The Lease will allow the Company to consolidate its Pasadena operations into a single location. The total annual rent under the Lease ranges from approximately $2.5 million for the first year to approximately $3.4 million for the final year of the Lease. The Company has two options to extend the Lease, each for a period of five years.
The Company has a one-time right to terminate the Lease in its entirety by providing notice to Landlord prior to May 31, 2020 and making a payment of approximately $4.0 million to Landlord (or, if the Company's total leased square footage does not equal 86,790 square feet at the time such termination right is exercised, a payment equal to the sum of $45.52 times the total number of square feet then being leased by the Company). The Company has the right to sublease, assign or transfer the Premises, subject to certain terms and conditions.
The foregoing summary is qualified in its entirety by reference to the Lease, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
(d) Exhibits
Exhibit Description
10.1 Office Lease Agreement by and between 1055 East Colorado - Pasadena,
CA L.P. and Guidance Software, Inc., dated July 26, 2012.
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