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)



                                       2

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses