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
JANUARY 26, 2005
Date of Report (Date of earliest event reported)
BROADVISION, INC.
(Exact name of registrant as specified in its charter)
Delaware | | 000- 28252 | | 94-3184303 |
(State or other jurisdiction of
incorporation or organization) | | (Commission File Number) | | (IRS Employer
Identification Number) |
585 Broadway
Redwood City, CA 94063
(Address of principal executive offices, including zip code)
(650) 261-5100
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 1.01.
On January 26, 2005, BroadVision, Inc. (the “Company”) and 100 Spear Street Owners Corporation (“Landlord”) executed and delivered an Agreement to Assign Lease and Sublease, together with a letter amendment to that agreement (collectively, the “Assignment Agreement.”).
Under the Assignment Agreement, the Company assigned to the Landlord all of the Company’s rights and obligations under (a) the Office Lease dated December 1, 2000 (the “Lease”) between Landlord and the Company for office space located on the 17th floor (the “Premises”) in the building at 100 Spear Street, San Francisco, California and (b) the Sublease dated February 11, 2002 between the Company and a subtenant for the Premises. In connection with the assignment, the Company agreed to pay the Landlord a cash fee of approximately $1.3 million, one-half of which was paid on January 26, 2005, with the balance payable in two equal quarterly installments during 2005 by drawdown on a letter of credit.
The foregoing is a summary of the material features of the Assignment Agreement. This summary does not purport to be complete and is qualified in its entirety by reference to the terms of the Assignment Agreement, which is filed as Exhibits 10.51 and 10.52 to this Current Report on Form 8-K, and incorporated herein by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit
Number | | Description |
10.51 | | Agreement to Assign Lease and Sublease dated as of January 26, 2005 between 100 Spear Street Owners Corporation and BroadVision, Inc. |
| | |
10.52 | | Letter dated January 26, 2005 amending Agreement to Assign Lease and Sublease dated as of January 26, 2005 between 100 Spear Street Owners Corporation and BroadVision, Inc. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| BROADVISION, INC. |
| |
| | |
Dated: February 1, 2005 | By: | /s/ William E. Meyer | |
| | William E. Meyer |
| | Executive Vice President, |
| | Chief Financial Officer |
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INDEX TO EXHIBITS
Exhibit
Number | | Description |
10.51 | | Agreement to Assign Lease and Sublease dated as of January 26, 2005 between 100 Spear Street Owners Corporation and BroadVision, Inc. |
| | |
10.52 | | Letter dated January 26, 2005 amending Agreement to Assign Lease and Sublease dated as of January 26, 2005 between 100 Spear Street Owners Corporation and BroadVision, Inc. |
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