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XOOM > SEC Filings for XOOM > Form 8-K on 27-Dec-2013All Recent SEC Filings

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Form 8-K for XOOM CORP


Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry Into A Material Definitive Agreement.

Xoom Corporation (the "Company") entered into an office lease agreement (the "Lease") dated December 20, 2013 with Metropolitan Life Insurance Company to lease approximately 53,017 square feet (the "Premises") of an office building located at 425 Market Street, San Francisco, California (the "Building").

The 120-month term of the Lease (the "Term") is expected to commence on July 1, 2014. Rent will be paid on a monthly basis and will increase incrementally from $229,740.33 per month to $286,914.20 per month through the end of the Term. In connection with the entry into the Lease, the Company is obligated to deliver a letter of credit to the Landlord in the amount of $3,890,949.00.

The Company has the option to extend the term of the Lease for an additional five year period at the then prevailing market rate. The Company also has the right to sublease, assign or transfer the Premises, subject to certain terms and conditions.

The foregoing 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 by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.       Description of Exhibits

10.1              Office Lease by and between Metropolitan Life Insurance Company
                  and Xoom Corporation, dated December 20, 2013.

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