Lease Renewal Agreement between Long Island High Technology Incubator, Inc. and Applied DNA Sciences, Inc.
This agreement renews the lease between Long Island High Technology Incubator, Inc. and Applied DNA Sciences, Inc. for one year, from February 1, 2024, to January 31, 2025. Applied DNA Sciences will continue to occupy 2,500 square feet of lab space at the specified suites, with annual rent set at $125,000. The tenant may vacate any suite with one month's written notice and no penalty. All other original lease terms remain in effect, and rent is due by the 15th of each month, with late fees for overdue payments.
Exhibit 10.3
| December 18, 2023 |
Beth Jantzen, CPA | |
Chief Financial Officer | |
Applied DNA Sciences, Inc. | |
50 Health Sciences Drive | |
Stony Brook, NY 11790 | |
Dear Ms. Jantzen,
In accordance with your Lease dated February 24, 2023, the Long Island High Technology Incubator, Inc. hereby renews your lease for a period of one year.
The Term of the renewal is 2/1/2024 to 1/31/2025. Applied DNA Sciences, Inc. occupies 2,500/sf of lab space in Suites 103, 112 and 120. As stated in the Rent Change Letter, sent on June 21, 2023, your rent will increase to $50/sf; $125,000 annually.
In addition, the Tenant has the right to vacate any of the above-mentioned suites without penalty by providing Landlord with one (1) month’s written notice.
All other conditions set forth in the Lease remain in effect for the renewal Term. Please note that rent is due by the 15th day of the month. Any rent received after the 15th will be subject to a late fee.
Please sign and return the agreement to our office indicating your acceptance. Upon receipt, LIHTI’s Executive Director, Andrew Wooten will sign the renewal and we will deliver to you the fully executed agreement. We look forward to your continued success in the months ahead.
Best regards,
/s/ Andrew L. Wooten |
| 1/10/2024 |
Andrew L. Wooten | | Date |
Executive Director | | |
Long Island High Technology Incubator, Inc. | | |
| | |
| | |
/s/ Beth Jantzen, CPA | | 1/4/2024 |
Beth Jantzen, CPA | | Date |
Chief Financial Officer | | |
Applied DNA Sciences, Inc. | | |
LIHTI.org
LIHTI, 25 Health Sciences Drive, Stony Brook, NY 11790
