Item 1.01 Entry into a Material Definitive Agreement
Effective as of April 1, 2023, Hausmann Enterprises, LLC, a wholly-owned
subsidiary of Dynatronics Corporation (the "Company"), as tenant, entered into a
Second Amendment to Lease Agreement with Hausmann Industries, Inc., as landlord,
pursuant to which (i) the term of the parties' existing lease agreement for the
leased premises located at 130 Union Street in Northvale, New Jersey was
extended for an additional five (5) years, commencing April 1, 2023, and (ii)
the annual base rent payable under the lease agreement was adjusted to "Fair
Market Rent" in the amount of $720,000, subject to annual increases thereafter
of two percent (2%) per year during the extension term (the "Lease Amendment").
This summary description is qualified in its entirety by reference to the Second
Amendment to Lease Agreement, filed as Exhibit 10.1 to this Current Report on
Form 8-K incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Description
10.1 Second Amendment to Lease Agreement dated effective as of April 1, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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