This excerpt taken from the PCCC 8-K filed Oct 31, 2006.
Item 1.01. Entry into a Material Definitive Agreement.
On October 26, 2006, Merrimack Services Corporation (the Company), a subsidiary of PC Connection, Inc., a Delaware corporation, entered into Amendment No. 6 to the Lease (the Amendment), dated September 27, 1990, by and between the Company and Ewe Warehouse Investments V, Ltd., as previously amended, for property located at 2870 Old State Route 73 in Wilmington, Ohio (the Lease).
Pursuant to the terms of the Amendment, effective March 1, 2007, the term of the Lease was extended an additional two years for a total of eighteen years and two months through February 28, 2009.
Pursuant to the terms of Amendment, the Company has agreed to pay $548,864.04 in rent payable in equal monthly installments of $45,738.67 for the one-year period commencing March 1, 2006 and ending February 28, 2007 (the Annual Rent). Beginning March 1, 2007, the Annual Rent is subject to an annual adjustment based on any increases in the Consumer Price Index and the procedures described in the Amendment.
The Amendment extended the Companys option to renew the Lease for an additional two-year term on the same terms and conditions contained therein, except for the rental amount and length of term, subject to 180 days prior written notice by the Company and no defaults in the covenants, agreements, terms or conditions on the part of the Company. The Annual Rental to be paid during any renewal period is subject to the Consumer Price Index adjustments described in the Amendment.
The foregoing summary of the Amendment is subject to, and qualified in its entirety by, the Amendment attached to this Form 8-K as Exhibit 10.1 and incorporated herein by reference.
This excerpt taken from the PCCC 8-K filed Mar 17, 2006.
Item 1.01. Entry into a Material Definitive Agreement
On March 13, 2006, the Board of Directors of PC Connection, Inc., a Delaware Corporation (the Company), approved the terms of compensation and board meeting fees for the members of the Board for 2006. Messrs. Barone, Baute, Hall, and Weatherson are entitled to receive an annual retainer fee of $36,000, in addition to $1,500 for each Board and committee meeting they attend. Mr. Hall is currently not a member of any Board committee and therefore does not receive any committee fees. In addition, the Board members receive reimbursement for all reasonable expenses incurred in attending Board and committee meetings.
Ms. Gallup and Mr. Beffa-Negrini will not receive compensation in 2006 for their services as a member of the Companys Board of Directors.
Members of the Board of Directors are also eligible to participate in the Companys 1997 Stock Incentive Plan. The Company did not issue any stock options to directors in 2005.
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 hereunto duly authorized.