8-KMaterial AgreementsExhibits & Filings

CIENA CORP 8-K Report, Material Agreement (Feb 15, 2012)

Filed February 15, 2012For Securities:CIEN

Summary

Ciena Corporation (CIEN) filed an 8-K on February 15, 2012, reporting an amendment to its lease agreement for the 'Lab 10' building located at the former Nortel Carling Campus in Ottawa, Canada. This amendment, executed on February 13, 2012, by its subsidiary Ciena Canada, Inc., extends the lease term for Lab 10 from March 19, 2015, to March 18, 2016. The extended lease is expected to result in an aggregate annual payment of approximately $8.8 million CAD for the additional year, covering base rent and operating expenses.

Key Highlights

  • 1Ciena Canada, Inc., a subsidiary of Ciena Corporation, amended its lease agreement for the 'Lab 10' building.
  • 2The amendment extends the Lab 10 lease term by one year, from March 19, 2015, to March 18, 2016.
  • 3The extended lease will result in an approximate annual payment of $8.8 million CAD for the additional year.
  • 4This payment includes base rent and additional operating expense obligations.
  • 5Separately, the lease term for Ciena's 'Lab 2' facility on the same campus was shortened.
  • 6The Lab 2 lease term is now set to expire on December 31, 2012, instead of March 18, 2015.
  • 7The filing details a material definitive agreement related to real estate.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose a material definitive agreement, specifically an amendment to Ciena's lease for its 'Lab 10' facility located at the former Nortel Carling Campus in Ottawa, Canada.

The extension of the Lab 10 lease for an additional year (until March 18, 2016) is expected to result in an aggregate annual payment of approximately $8.8 million CAD, covering both base rent and operating expenses for that extended period.

Yes, in connection with the Lab 10 lease amendment, Ciena also agreed to shorten the lease term for its 'Lab 2' facility on the same Carling Campus. The Lab 2 lease will now expire on December 31, 2012, instead of its previous expiration date of March 18, 2015.

The amendment to the Lab 10 lease agreement was entered into on February 13, 2012.