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