SUPPORT.COM, INC. (NASDAQ:SPRT) Files An 8-K Termination of a Material Definitive Agreement

SUPPORT.COM, INC. (NASDAQ:SPRT) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement.

Support.com, Inc. (the “Company”) is a party to that certain Amended and Restated Master Services Agreement Call Handling Services entered into as of December 22, 2019 (the “Master Agreement”) with Comcast Cable Communications Management, LLC (“Comcast”). Under the general terms of the Master Agreement, the Company and Comcast also enter into individual agreements, or statements of work, that provide additional terms applicable to individual client programs. The Company and Comcast entered into Statement of Work #3 dated October 1, 2013, as amended (the “Statement of Work #3”) to which the Company provided Comcast Xfinity Home Remote Support services to Comcast customers.
On December 16, 2020, the Company received notice from Comcast notifying the Company of Comcast’s intent to terminate Statement of Work #3, effective on April 21, 2021. For the three months ended September 30, 2020 and the twelve months ended December 31, 2019, Comcast accounted for 40% and 63% of the Company’s total revenue, respectively. The revenue derived from the services provided under the Statement of Work #3 was 10.4% and 9.9% of the Company’s total revenue for the three months ended September 30, 2020 and the twelve months ended December 31, 2019, respectively.
The Master Agreement between the Company and Comcast and all other statements of work remain in effect.
About SUPPORT.COM, INC. (NASDAQ:SPRT)

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Support.com, Inc. is a provider of cloud-based software and services for technology support. The Company offers outsourced support services for service providers, retailers, Internet of Things (IoT) solution providers and technology companies. It offers technology support services programs for both the consumer and small business markets, and includes computer and mobile device set-up, security and support, virus and malware removal, wireless network set-up, and home security and automation system support. Its cloud-based offering, Nexus, is a software-as-a-service solution for companies to support interactions with their customers. Its end user software products are designed to maintain, optimize and secure computers and mobile devices. Its principal software products include products designed for malware protection and removal (SUPERAntiSpyware); personal computer (PC), smartphone and tablet maintenance and optimization (Cosmos), and PC registry cleaning and repair (ARO).

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