Systemax Inc. (NYSE:SYX) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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Systemax Inc. (NYSE:SYX) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement.

On December 14, 2016, Global Equipment Company Inc., a wholly
owned indirect subsidiary of Systemax Inc. (the Company) entered
into an amended and restated lease (the Lease) for its Port
Washington, NY headquarters (the Headquarters). The Company has
leased the Headquarters since 1988 from an entity owned by
Messrs. Richard, Bruce and Robert Leeds, Directors and officers
of, and together with their respective affiliated entities
majority shareholders of, the Company (the Landlord).
The initial base rent for the Headquarters is $936,457.20 per
year, subject to yearly escalations based on the Consumer Price
Index for all Urban Consumers, U.S. City Average, all items
(1982-1984 = 100), not seasonally adjusted, published and issued
by the Bureau of Labor Statistics of the United States Department
of Labor.
The Lease provides that it is intended to be a triple net lease
with the Company to pay, or reimburse Landlord for paying, all
costs and operating expenses, including taxes, insurance and
maintenance expenses, associated with the Lease and the
Headquarters.
The initial term of the Lease is ten years, with two renewal
options of five years each.
A copy of the Lease is filed as an exhibit to this Form 8-K.
The foregoing description of the terms of the Lease does not
purport to be complete and is qualified in its entirety by
reference to the full text of the Lease, a copy of which is
attached hereto as Exhibit 10.1.
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
(a)
Creation of a Direct Financial Obligation.
The discussion contained in Item 1.01 Entry into a Material
Definitive Agreement of this Current Report on Form 8-K is
incorporated into this Item 2.03 by reference.
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
The following exhibits are filed herewith:
Exhibit
Number
Description
10.1
Amended and Restated Lease dated December 14, 2016, by and
between Global Equipment Company Inc. and Addwin Realty
Associates, LLC.


About Systemax Inc. (NYSE:SYX)

Systemax Inc. is a direct marketer of brand name and private label products. The Company’s segments include Industrial Products Group (IPG), EMEA Technology Products Group (EMEA), and Corporate and Other (Corporate). IPG sells a range of maintenance, repair and operations (MRO) products, which are marketed in North America. The Company offers a range of products that are manufactured for its own design and marketed under the brands: Global, GlobalIndustrial.com, Nexel Relius, Relius Elite and Hercules. Its EMEA segment primarily sells information and communications technology (ICT) and consumer electronics (CE) products. These products are marketed in Europe and are manufactured by other companies. MRO products offered by its IPG segment include electrical and bulbs, fasteners and hardware, storage and shelving, and tools and instruments. ICT products offered by its EMEA segment include computer components and accessories, and software. CE products include audio and cell phones.

Systemax Inc. (NYSE:SYX) Recent Trading Information

Systemax Inc. (NYSE:SYX) closed its last trading session up +0.24 at 8.90 with 17,730 shares trading hands.