CLEARSIGN COMBUSTION CORPORATION (NASDAQ:CLIR) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01
On August 26, 2019, ClearSign Combustion Corporation (the “Company”) entered into the Third Amendment to Lease (the “Lease Amendment”), dated July 18, 2019, to the lease dated August 19, 2011 (the “Original Lease”) with Boeing Employees’ Credit Union, the lessor of the Company’s corporate headquarters located at 12870 Interurban Avenue South, Seattle, Washington 98168. The Amendment extended the term of the Lease for a period of three years and two months, beginning on April 1, 2020, and terminating on May 31, 2023 (the “Term”). For the first two months of the Term the rent will be abated, although the Company will continue to be responsible for the payment of its proportionate share of expenses and taxes. From June 1, 2020 through March 31, 2021, the Company will pay monthly rent in the amount of $13,524.00. Thereafter, the monthly rent will increase on the first day of April of each succeeding year by approximately 3% until the end of the Term. The remaining terms and conditions of the Lease remain the same. The above summary is qualified in its entirety by reference to the Lease Amendment, which is included as Exhibit 10.1 to this Current Report on Form 8-K and which is incorporated by reference into this Item 1.01 in its entirety.
Exhibit 10.1 Third Amendment to Lease
CLEARSIGN COMBUSTION CORP Exhibit
EX-10.1 2 tv528545_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 THIRD AMENDMENT TO LEASE THIS THIRD AMENDMENT TO LEASE (this “Third Amendment”),…
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About CLEARSIGN COMBUSTION CORPORATION (NASDAQ:CLIR)
ClearSign Combustion Corporation is engaged in designing and developing technologies for managing various performance characteristics of combustion systems, such as emission and operational performance, and energy efficiency. The Company’s Duplex and Electrodynamic Combustion Control (ECC) platform technologies are used to manage the performance of combustion systems in a range of markets, including the refinery, petrochemical, chemical, power and commercial boiler industries. The Duplex burner technology typically consists of a traditional industrial burner and a porous ceramic tile. The ECC technology includes various components, such as a computer, standard software delivering algorithms to a power amplifier (resident outside the combustion chamber) and electrodes inside the combustion chamber. The ECC technology introduces a computer-controlled high voltage electric field into a combustion volume in order to control gas-phase chemical reactions.