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AFFY > SEC Filings for AFFY > Form 8-K on 20-Aug-2013All Recent SEC Filings

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Form 8-K for AFFYMAX INC


20-Aug-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01 Termination of a Material Definitive Agreement.

On August 15, 2013, Affymax, Inc. (the "Company") executed a Seventh Amendment to Lease, dated as of August 14, 2013 and effective as of August 15, 2013 (the "Seventh Amendment"), with CA-Foothill Research Center L.P. ("Landlord"), which provides for the acceleration of the termination date of the lease agreement for the Company's offices and laboratories located at 4001 Miranda Avenue, 4009 Miranda Avenue and 4015 Miranda Avenue, in Palo Alto, California, dated as of May 30, 1990 (the "Lease Agreement"), as amended by amendments one through six. The Lease Agreement was previously scheduled to expire on September 30, 2014, and the Seventh Amendment provides for the acceleration of the termination date of the Lease Agreement to August 15, 2013. In consideration for the settlement of outstanding and future lease payments and costs associated with a full and complete relinquishment of the facilities under the Lease Agreement, the Company agreed to make a payments to the Landlord totaling approximately $2.6 million, which amount includes rent and acceleration payments, forfeiture of the Company's Security Deposit held by the Landlord and authorization for the Landlord to draw upon the Company's letter of credit held by the Landlord pursuant to the Lease Agreement. The foregoing description of the Seventh Amendment is not intended to be complete and is qualified in its entirety by reference to the full text of the Seventh Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein. The Company is now headquartered at 19200 Stevens Creek Boulevard, Suite 240, Cupertino, CA 95014.




Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit
Number                                  Description

10.1       Seventh Amendment to Lease, executed August 15, 2013, by and between
           Registrant and CA-Foothill Research Center L.P.


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