Sublease Letter Agreement between PEDEVCO Corp. and SK Energy, LLC for Office Space at 575 N. Dairy Ashford
PEDEVCO Corp. and SK Energy, LLC have agreed that SK Energy, LLC will sublease one office at PEDEVCO's Houston headquarters from September 1, 2022, to August 31, 2024. SK Energy, LLC will pay a non-refundable lump sum of $24,000 to PEDEVCO Corp. by September 15, 2022. The payment is fully earned and non-refundable, even if PEDEVCO ceases to be a tenant or ends the sublease early for any reason. Both parties have acknowledged and agreed to these terms.
EXHIBIT 10.1
Via Electronic Mail
August 25, 2022
Dear SK Energy, LLC:
Pursuant to our discussion, commencing September 1, 2022, SK Energy, LLC agrees to extend the sublease of one (1) office from PEDEVCO Corp. at its headquarters located at 575 N. Dairy Ashford, Energy Center II, Suite 210, Houston, Texas 77079, for a period of two (2) years, terminating August 31, 2024 (the “Term”), in exchange for payment by SK Energy, LLC of a non-refundable lump-sum payment of $24,000 to PEDEVCO Corp. on or before September 15, 2022. The parties agree and acknowledge that this payment shall be fully-earned by PEDEVCO Corp. and non-refundable upon receipt, and if, for any or no reason, PEDEVCO Corp. is no longer a tenant at the premises or desires to terminate SK Energy, LLC’s tenancy for any or no reason during the Term, that SK Energy, LLC shall have no recourse, right or claim to refund or reimbursement of any of the amount paid.
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| Thank you, |
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| PEDEVCO CORP. | |||
| /s/ Clark R. Moore | |||
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| Name: Clark R. Moore | |
| Title: EVP and General Counsel | |||
| Agreed and Acknowledged: |
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| SK Energy, LLC |
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| /s/ Simon Kukes |
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| Dr. Simon Kukes, CEO and Owner |
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