Synchronoss Technologies,Inc. (NASDAQ:SNCR) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On March16, 2018, Synchronoss Technologies,Inc., a Delaware corporation (“Synchronoss”), entered into an agreement (the “Amendment”) with Verizon Sourcing LLC (“Verizon”) to amend the terms of Statement of Work No.1 (“SOW No.1”) under the existing Application Service Provider Agreement dated April1, 2013 between Synchronoss and Verizon (the “Original Agreement”).
Under the terms of the Amendment, Verizon will pay a monthly fee for each Verizon subscriber that utilizes the Synchronoss Content Hub Software, with a fixed minimum amount to be paid each month. In addition, Verizon will pay a fixed annual amount for professional services throughout the term of the Amendment and a one-time hosting conversion fee. The fee structure of this Amendment replaces the existing fee structure set forth in SOW No.1.
The Amendment extends the term of SOW No.1 through December31, 2022.
The foregoing description of the Original Agreement, SOW No.1 and the Amendment does not purport to be complete and is qualified in its entirety by the full text of the Original Agreement, the SOW No.1 and the Amendment, copies of which will be filed as exhibits to Synchronoss’ Quarterly Report on Form10-Q for the quarter ending March31, 2018.