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): February 15, 2008
IOMEGA
CORPORATION
(Exact
Name of Registrant as Specified in its Charter)
|
Delaware
(State
or Other Jurisdiction
of
Incorporation)
|
1-12333
(Commission
File
Number)
|
86-0385884
(IRS
Employer
Identification
No.)
|
|
10955
Vista Sorrento Parkway, San Diego, CA
(Address
of Principal Executive Offices)
|
|
92130
(Zip
Code)
|
(858)
314-7000
(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 obligations of the registrant under any of the following
provisions.
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2 (b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ] Pre-commencement
communications pursuant to Rule 13e-4 (c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement.
On
February 15, 2008, Iomega Corporation (“Iomega”) entered into a sub-lease
agreement with AvNet, Inc. (a New York corporation) (the “Sublessor”) pursuant
to which Iomega will lease 23,423 feet of office space located at 3721 Valley
Center Drive, Second Floor in San Diego, California. Iomega intends
to move all of the operations currently conducted at its headquarters at 10955
Vista Sorrento Parkway at the expiration of the lease for such facility;
Iomega’s current San Diego lease expires at the end of July 2008. The
term of the lease runs from August 1, 2008 through February 27,
2013. Fixed rental rates are $41,400 per month for the first year of
the lease, $55,758 per month for the second year of the lease, and then $57,710,
$59,729 and $61,820.39 per month, respectively, for the subsequent
years. This is a “net of electricity” sub-lease, and Iomega is also
responsible for certain cost increases during the term and for specific costs
attributable to Iomega (such as costs of building some additional offices or
having space plans reviewed and approved). Iomega is responsible for
a security deposit of $61,820.39.
The lease
agreement is subject to certain customary approvals by the building landlord,
Kilroy Realty, L.P., a Delaware Limited Partnership, Kilroy Realty Corporation,
a Maryland Corporation, General Partner.
SIGNATURE
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 thereunto
duly authorized.
|
Date:
February 21, 2008
|
IOMEGA
CORPORATION
(Registrant)
By: /s/
Thomas D.
Kampfer
Thomas
D. Kampfer
President
& Chief Operating Officer
|