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| N > SEC Filings for N > Form 8-K on 6-Mar-2013 | All Recent SEC Filings |
6-Mar-2013
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
On February 28, 2013, NetSuite Inc. ("NetSuite" or the "Company") entered into an amendment (the "Amendment") to the ordering document (the "Ordering Document") entered into with Oracle America, Inc. ("Oracle) on October 31, 2007.
The Ordering Document provides for a 48 month extension of a license from Oracle to NetSuite which permits NetSuite to download an unlimited number of certain perpetual licenses and a specified number of other perpetual licenses for Oracle database and application server software. The Amendment provides that the Company will pay a one-time fee of $13.1 million to extend the term of this license from May 31, 2014 to May 31, 2018. The Ordering Document also provides for technical support services. The Company will pay $2.4 million for the support services from February 28, 2013 to February 27, 2014. The Company may renew Oracle support services for four subsequent annual periods for a fee of $4.3 million per year. The support services to be provided to the Company by Oracle automatically renew unless the Company provides written notice of cancellation at least 60 days prior to the support renewal date.
The Company financed the fees due under the Amendment pursuant to a note issued to Oracle Credit Corporation. The note bears interest at a rate of 2% per annum with payments scheduled over the term of the Amendment.
The foregoing description of the Amendment does not purport to be complete, and is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 hereto, and is incorporated herein by reference.
(d) Exhibits.
Exhibit
No. Description of Exhibits
10.1 Amendment Three to the Ordering Document between NetSuite Inc. and
Oracle America, Inc. dated February 28, 2013.
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