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INUV > SEC Filings for INUV > Form 8-K on 19-Apr-2013All Recent SEC Filings

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Form 8-K for INUVO, INC.


19-Apr-2013

Entry into a Material Definitive Agreement


Item 1.01. Entry into a Material Definitive Agreement.

Alot, Inc., a wholly-owned subsidiary of Inuvo, Inc. ("Alot"), entered into a Consent to Sublease with THE RECTOR, CHURCH-WARDENS AND VESTRYMEN OF TRINITY CHURCH IN THE CITY OF NEW YORK, a religious corporation ("Trinity"), and Shopkeep.com, Inc., a Delaware corporation ("Shopkeep"), effective April 12, 2013. The Consent to Sublease amends the Lease, dated as of February 29, 2000, by and between Alot and Trinity for the Company's office located at 143 Varick St. New York, New York (the "Premises") and permits Alot to enter into a Sublease for the Premises with Shopkeep. Alot and Shopkeep entered into a Sublease in March 2013 which became effective as of the date of Trinity's consent (April 12, 2013), whereby Alot subleased the Premises to Shopkeep for a term commencing on the date of the Consent to Sublease and, subject to additional terms and conditions, ending on January 30, 2016. Base rent under the Sublease is $48,544 per month and Shopkeep received a total of $97,088 in rent credits to be utilized over the first four months of the term. Shopekeep's obligations under the Sublease are secured by a $300,000 security deposit in the form of a letter of credit.

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