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ADAMAS PHARMACEUTICALS INC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

June 17, 2014

Item 1.01. Entry into a Material Definitive Agreement.

On June 13, 2014, Adamas Pharmaceuticals, Inc. (the "Company"), entered into a fifth amendment (the "Lease Amendment") to that certain lease dated April 25, 2006 (as amended prior to the execution of the Lease Amendment, the "Existing Lease") with Emeryville Office, L.L.C. (the "Landlord"). The Lease Amendment, with an effective date of May 23, 2014, provides for the relocation of the Company's current corporate headquarters from 2200 Powell Street, Suite 220, Emeryville, California where the company has 7,652 square feet (the "Current Premises"), to a facility containing approximately 12,492 square feet located at 1900 Powell Street, Suite 750, Emeryville, California (the "New Premises"). Pursuant to the Lease Amendment, the Company will move into the New Premises and surrender the Current Premises on the earlier to occur of: (a) the date Company moves into the New Premises to commence operation of its business in all or any portion of the New Premises; or (b) the date Landlord delivers the New Premises to Company after completing certain agreed upon tenant improvements (the "New Premises Commencement Date"). The term of the Existing Lease, as amended by the Lease Amendment, expires 65 months after the New Premises Commencement Date.

Base rent payable under the Lease Amendment for the New Premises will be as follows:

Months Monthly Base Rent 1-12 $ 32,479.20 13-24 $ 33,453.58 25-36 $ 34,457.18 37-48 $ 35,490.90 49-60 $ 36,555.63 61-65 $ 37,652.29

In addition, the Company will pay the Landlord specified percentages of certain operating expenses and taxes related to the New Premises incurred by the Landlord.

The foregoing description of the terms of the Lease Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Existing Lease, which has been filed previously by the Company as an exhibit to its Registration Statement on Form S-1, and the Lease Amendment, a copy of which will be filed with the Securities and Exchange Commission as an exhibit to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended ending on June 30, 2014.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth above and referenced under Item 1.01 is hereby incorporated by reference into this Item 2.03.



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Source: Edgar Glimpses

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