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SGI > SEC Filings for SGI > Form 8-K on 27-Jun-2013All Recent SEC Filings




Entry into a Material Definitive Agreement, Financial Stateme

Item 1.01 Entry into a Material Definitive Agreement

On June 27, 2013, Silicon Graphics International Corp. (the "Company") entered into a ten-year lease with The Irvine Company LLC ("Landlord") for the lease of approximately 97,762 square feet of campus space in Milpitas, California (the "Lease"). The Lease commences December 1, 2013 and the Company is expected to begin occupancy of the Milpitas campus in December 2013. Under the terms of the Lease, the minimum monthly rent payable is $97,762 during the first year. Such monthly rent increases to a maximum of $127,091 during the Lease's tenth year. The Company has an option to end the lease after seven years, and may also extend the term of the lease for an additional five years at its election. The foregoing description of the Lease is a summary of its material terms and does not purport to be complete. This 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 is incorporated herein by reference. The Company's current leases of adjacent buildings in Fremont, California expire December 31, 2013 and January 14, 2014.

Item 9.01 Financial Statements and Exhibits.

(d)     Exhibits

Number                      Exhibit Title

                            Lease dated June 27, 2013 between the Company and The
10.1                        Irvine Company LLC.

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