Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
___________________________________
FORM
8-K
Current
Report Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported):
September
24, 2009
HARRIS & HARRIS GROUP, INC.
(Exact
Name of Registrant as Specified in its Charter)
New York
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0-11576
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13-3119827
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(State
or Other Jurisdiction of
Incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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111
West 57th
Street
New York, New York 10019
(Address
of Principal Executive Offices and Zip Code)
Registrant's
telephone number, including area code: (212)
582-0900
On September 24, 2009, Harris &
Harris Group, Inc. (“we” or “us”) entered into a lease agreement with Rosh 1450
Properties LLC (the “Lease”) for approximately 6,900 square feet of office space
located at 1450 Broadway, New York, New York. The lease will commence
on the later of January 1, 2010, or when the leasehold improvements are
completed. We plan to use the office space to replace our current
offices in New York City, which serve as our corporate
headquarters.
The base rent is $36 per square foot
with a 2.5% increase per year over the 10 years of the lease, subject to a full
abatement of rent for four months and a rent credit for six months throughout
the Lease term. The Lease expires on December 31, 2019.
We have one option to extend the Lease
term for a five-year period, provided that we are not in default under the
Lease. Annual rent during the renewal period will equal 95 percent of
the fair market value of the leased premises, as determined in accordance with
the Lease.
Upon an event of default, the Lease
provides that the landlord may terminate the Lease and require us to pay all
rent that would have been payable during the remainder of the Lease or until the
date the landlord re-enters the premises.
A copy of
the lease is filed herewith as Exhibit 10.1 and is incorporated by reference
herein. The foregoing description of the lease is a summary and is
qualified in its entirety by reference to such Exhibit.
Item
9.01. Financial Statements
and Exhibits.
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Exhibit No.
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Description
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10.1
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Lease,
dated September 24, 2009, between Rosh 1450 Properties LLC
and
Harris & Harris Group,
Inc.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date:
September 24, 2009
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HARRIS
& HARRIS GROUP, INC.
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By:
/s/ Douglas W.
Jamison
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Douglas
W. Jamison
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Chief
Executive Officer
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EXHIBIT
INDEX
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Exhibit No.
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Description
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10.1
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Lease,
dated September 24, 2009, between Rosh
1450
Properties LLC and Harris & Harris Group,
Inc.
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