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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (date of earliest event reported): October&nbsp;21, 2013 (October 15, 2013) </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>OVERLAND STORAGE, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>California</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>000-22071</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>95-3535285</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>9112 Spectrum Center Boulevard, San Diego, California 92123 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices, including zip code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(858) 571-5555 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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 (see General Instruction A.2. below): </P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On October&nbsp;15, 2013, Overland Storage,
Inc. (the &#147;Company&#148;) entered into a Fourth Amendment to Lease Agreement (the &#147;Amendment&#148;) by and between the Company and Overtape (CA) QRS 15-14, Inc. (the &#147;Landlord&#148;), which amends the lease for the Company&#146;s
corporate headquarters in San Diego, California (the &#147;Lease&#148;). Under the terms of the Amendment, the Company has, among other things: (i)&nbsp;extended the expiration date of the Lease from February&nbsp;28, 2014 to March&nbsp;31, 2019;
(ii)&nbsp;reduced the rentable square footage under the Lease from approximately 91,300 square feet (the &#147;Original Space&#148;) to approximately 51,065 square feet (the &#147;Remaining Space&#148;); (iii)&nbsp;reduced its monthly base rent from
$165,102.08 per month to $125,000.00 per month from November 2013 through March 2014, and then to $62,500.00 per month from April 2014 through September 2014, with yearly 3.5% increases thereafter beginning in October 2014, which reductions will
result in savings per year (excluding associated reduced utility expenses) of more than $1,200,000 beginning April 2014, as compared to the annualized rent for such facility prior to the Amendment; (iv)&nbsp;reduced its obligation to pay Common Area
Expenses and R&amp;D Building Expenses (each as defined in the Amendment and which include, among others, certain costs, expenses and charges associated with managing, maintaining, repairing and operating the Remaining Space and the common area as
described in the Amendment and taxes for the rentable square footage) under the Lease in proportion to the reduction in rentable square footage; (v)&nbsp;agreed to pay Common Area Expenses and R&amp;D Building Expenses for that portion of the
Original Space vacated by the Company which is not occupied during a calendar year, (vi)&nbsp;obtained the right, subject to certain conditions, to terminate the Lease with respect to the first floor of the Remaining Space (the &#147;First Floor
Space&#148;) effective as of October&nbsp;31, 2015 (the &#147;Early Termination Right&#148;), provided that the Company gives the Landlord written notice of its election to exercise the Early Termination Right on or before April&nbsp;30, 2015 and
(vii)&nbsp;granted the Landlord the right to terminate the Lease with respect to the First Floor Space at any time on or after December&nbsp;31, 2014 (the &#147;Recapture Right&#148;) upon at least six months&#146; prior written notice to the
Company. If either of the Early Termination Right or the Recapture Right is exercised, the Lease will be automatically amended further to reflect the reduced rentable square footage under the Lease, with corresponding reductions in the monthly base
rent, Common Area Expenses and R&amp;D Building Expenses payable by the Company, and, in the case of the exercise of the Early Termination Right, to extend the expiration date of the Lease to March&nbsp;31, 2020. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, which
the Company expects to file as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending December&nbsp;29, 2013. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on
its behalf by the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3"><B>OVERLAND STORAGE, INC.</B></TD></TR>
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<TD VALIGN="top">Date: October&nbsp;21, 2013</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/&nbsp;Kurt L. Kalbfleisch</P></TD></TR>
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<TD VALIGN="bottom">By:</TD>
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<TD VALIGN="bottom">Kurt L. Kalbfleisch</TD></TR>
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<TD VALIGN="bottom">Senior Vice President and Chief Financial Officer</TD></TR>
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Form 8-K
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): October 21, 2013 (October 15, 2013)
OVERLAND STORAGE, INC.
(Exact name of registrant as specified in its charter)
California
000-22071
95-3535285
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
9112 Spectrum Center Boulevard, San Diego, California 92123
(Address of principal executive offices, including zip code)
(858) 571-5555
(Registrant's telephone number, including area code)
Not Applicable
(Former
name or former address, if changed since last report)
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 (see General Instruction A.2. below):
¨
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 October 15, 2013, Overland Storage,
Inc. (the "Company") entered into a Fourth Amendment to Lease Agreement (the "Amendment") by and between the Company and Overtape (CA) QRS 15-14, Inc. (the "Landlord"), which amends the lease for the Company's
corporate headquarters in San Diego, California (the "Lease"). Under the terms of the Amendment, the Company has, among other things: (i) extended the expiration date of the Lease from February 28, 2014 to March 31, 2019;
(ii) reduced the rentable square footage under the Lease from approximately 91,300 square feet (the "Original Space") to approximately 51,065 square feet (the "Remaining Space"); (iii) reduced its monthly base rent from
$165,102.08 per month to $125,000.00 per month from November 2013 through March 2014, and then to $62,500.00 per month from April 2014 through September 2014, with yearly 3.5% increases thereafter beginning in October 2014, which reductions will
result in savings per year (excluding associated reduced utility expenses) of more than $1,200,000 beginning April 2014, as compared to the annualized rent for such facility prior to the Amendment; (iv) reduced its obligation to pay Common Area
Expenses and R&D Building Expenses (each as defined in the Amendment and which include, among others, certain costs, expenses and charges associated with managing, maintaining, repairing and operating the Remaining Space and the common area as
described in the Amendment and taxes for the rentable square footage) under the Lease in proportion to the reduction in rentable square footage; (v) agreed to pay Common Area Expenses and R&D Building Expenses for that portion of the
Original Space vacated by the Company which is not occupied during a calendar year, (vi) obtained the right, subject to certain conditions, to terminate the Lease with respect to the first floor of the Remaining Space (the "First Floor
Space") effective as of October 31, 2015 (the "Early Termination Right"), provided that the Company gives the Landlord written notice of its election to exercise the Early Termination Right on or before April 30, 2015 and
(vii) granted the Landlord the right to terminate the Lease with respect to the First Floor Space at any time on or after December 31, 2014 (the "Recapture Right") upon at least six months' prior written notice to the
Company. If either of the Early Termination Right or the Recapture Right is exercised, the Lease will be automatically amended further to reflect the reduced rentable square footage under the Lease, with corresponding reductions in the monthly base
rent, Common Area Expenses and R&D Building Expenses payable by the Company, and, in the case of the exercise of the Early Termination Right, to extend the expiration date of the Lease to March 31, 2020.
The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, which
the Company expects to file as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending December 29, 2013.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on
its behalf by the undersigned hereunto duly authorized.
OVERLAND STORAGE, INC.
Date: October 21, 2013
/s/ Kurt L. Kalbfleisch
By:
Kurt L. Kalbfleisch
Senior Vice President and Chief Financial Officer