Winmark Corporation (NASDAQ:WINA) Files An 8-K Entry into a Material Definitive Agreement

Winmark Corporation (NASDAQ:WINA) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement

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The information set forth in Item 2.03 is incorporated herein by reference.

Item 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On May 17, 2018, Winmark Corporation (the “Company”) entered into an amendment (“Amendment No. 2”) to its Lease dated September 26, 2008 with G&I VIII 605 Waterford LLC (“Landlord”) as successor in title to Utah State Retirement Investment Fund and AX Waterford L.P. The Amendment No. 2, among other things, provides for an extension of the lease term for ten years and four months, commencing on September 1, 2019, for the 41,016 square feet of space that the Company leases for its corporate headquarters. The Company is obligated to pay rent monthly under the Lease, and will pay an estimated $8.0 million in total rental payments over the entire term of the extended period of the Lease. The Company is also obligated to pay Landlord’s estimated taxes and operating expenses (which change annually) as described in the Amendment No. 2 and the Lease.

The foregoing description of the Amendment No. 2 does not purport to be complete and is qualified in its entirety by reference to the full agreement attached hereto as Exhibit 10.1.

Item 9.01Financial Statements and Exhibits

(d)Exhibits

10.1Lease Amending Agreement No. 2, dated May 17, 2018, between Winmark Corporation and G&I VIII 605 Waterford LLC*

10.2Multi-Tenant Office Lease with Utah State Retirement Investment Fund for Corporate Headquarters dated September 28, 2008 (Exhibit 10.1)(1)

10.3Lease Amending Agreement No. 1 to Multi-Tenant Office Lease by and between Winmark Corporation and AX Waterford L.P. dated October 21, 2013 (Exhibit 10.1) (2)

_______________________

*Filed Herewith

(1)

Incorporated by reference to the specified exhibit to the Current Report on Form 8-K filed on October 2, 2008.

(2)

Incorporated by reference to the specified exhibit to the Current Report on Form 8-K filed on October 23, 2013.


WINMARK CORP Exhibit
EX-10.1 2 wina-20180517ex101ca5ba2.htm EX-10.1 Ex_101 Exhibit 10.1   LEASE AMENDING AGREEMENT NO. 2   THIS LEASE AMENDING AGREEMENT NO. 2 (“Amendment”) is made as of May 17,…
To view the full exhibit click here

About Winmark Corporation (NASDAQ:WINA)

Winmark Corporation is a franchisor of five retail store concepts that buy, sell and trade used merchandise. The Company operates in two business segments: franchising and leasing. The franchising segment franchises retail store concepts that buy, sell, trade and consign merchandise. The leasing segment includes Winmark Capital Corporation, which is the Company’s middle-market equipment leasing business, and Wirth Business Credit, Inc., its small-ticket financing business. Its concepts also offer a limited amount of merchandise to customers. The Franchising segment consists of Plato’s Closet, Once Upon A Child, Play It Again Sports, Music Go Round and Style Encore. The Company has approximately 1,150 franchised stores across the United States and Canada. The Company’s subsidiary, Winmark Capital Corporation, is engaged in the business of providing non-cancelable leases for technology and business-essential assets to both larger organizations and smaller companies.

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