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OPHT > SEC Filings for OPHT > Form 8-K on 31-Oct-2013All Recent SEC Filings

Show all filings for OPHTHOTECH CORP.

Form 8-K for OPHTHOTECH CORP.


31-Oct-2013

Entry into a Material Definitive Agreement


Item 1.01. Entry into a Material Definitive Agreement.

On October 25, 2013, Ophthotech Corporation (the "Company") entered into a lease with Carnegie 214 Associates Limited Partnership, as landlord, for approximately 8,468 square feet of office space at 214 Carnegie Center, Princeton, New Jersey. The Company intends to use the leased premises, which will replace the premises the Company had previously occupied in Princeton, New Jersey, for corporate and commercial functions. The lease term commences on the first to occur of the day after the substantial completion of tenant improvement construction being performed by the landlord and the day on which the Company takes possession of the premises, and expires five years therefrom. The Company has the option to extend the term of the lease for an additional five year period upon at least fourteen months prior written notice. The Company has agreed to pay aggregate rental fees of approximately $1.3 million over the initial 60-month term. The Company will provide a cash security deposit to the landlord in the amount of $104,968, which amount will be reduced incrementally over the term of the lease.


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