Item 1.01 Entry into a Material Definitive Agreement.
On December 16, 2021, Dropbox, Inc. (the "Company") entered into an amendment
(the "Amendment") to its Office Lease dated as of October 6, 2017 (as
subsequently amended, the "Lease") by and between the Company, as tenant, and
KRE Exchange Owner LLC, as landlord ("KRE"). Pursuant to the Amendment, the
Lease will be partially terminated with respect to a portion of the property
currently subject to the Lease and subleased by the Company to a third-party
subtenant (the "Subtenant"), in exchange for payment of a termination fee of $32
million from the Company to KRE, which the Company paid on December 17, 2021.
Also on December 17, 2021, the Company's sublease with the Subtenant was
terminated.
The foregoing description of the Amendment does not purport to be complete and
is qualified in its entirety by reference to the text of the Amendment, a copy
of which will be filed with the Company's Annual Report on Form 10-K for the
year ending December 31, 2021.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses