AGREEMENTFOR USE OF OFFICE ANDADMINISTRATIVE SERVICES
EX-10.9 3 v181099_ex10-9.htm EX-10.9
Exhibit 10.9
AGREEMENT FOR USE OF OFFICE
AND ADMINISTRATIVE SERVICES
This Agreement, entered into this 4th day of September, 2009 by and between Patriot Rail Corp. (“Patriot”) and BHIT, Inc. a Delaware Corporation (“BHIT”).
Whereas: Patriot currently is a Subtenant of Suite 342W. (the “Suite”), at 2255 Glades Road, Boca Raton, FL pursuant to a Sublease Agreement, and
Whereas: Patriot has available offices with the Suite and BHIT desires to use such offices in the Suite on a month to month basis, and
Whereas: Patriot has administrative services available with the Suite including secretarial, receptionist, telephone answering services, coffee service and the like, (“Services”), and BHIT desires to use such services on a month to month basis, and
Whereas: The parties desire to set forth the terms of the relationship in this Agreement.
Now, therefore, the parties, intending to be legally bound, hereby agree as follows:
| 1. | Patriot shall permit BHIT full or partial use of two offices in the Suite which have been shown to it and Patriot shall allow BHIT to use the Services on a month to month basis beginning September 4, 2009. The offices are currently designated for the Controller of B.H.I.T. Inc. on a full time basis and for the Vice President of B.H.I.T. Inc. on a part time basis. BHIT agrees that only its designated personnel shall be permitted to use such office and the Services. |
| 2. | The monthly fee for such office use if Five Thousand ($5000.00) dollars payable in advance and due no later than the fifth day of each month. |
| 3. | Patriot shall supply a desk and chairs together with internet access located within the office. |
| 4. | Either party shall have the right to terminate this agreement for any reason upon thirty (30) days prior written notice to the other. |
| 5. | BHIT shall pay the first month’s fee of $5000.00 at the time of the execution of this Agreement. |
| 6. | BHIT agrees to follow the rules and regulations of the building and any additional reasonable rules set forth during the term of the Agreement. |
| 7. | Any notices shall be given as follows: |
To Patriot Rail Corp:
Gary O. Marino, CEO
Patriot Rail Corp.
2255 Glades Road, Suite 342W
Boca Raton, FL 33431
To B.H.I.T., Inc.:
Copy to: | Lawrence Rutstein |
VP-Administration
B.H.I.T., Inc.
2255 Glades Road, Suite 342W
Boca Raton, FL 33431
| 8. | This Agreement shall not be amended or modified except in writing and Agreed by both parties hereto. |
In witness whereof, the parties have caused this Agreement to be executed effective as of the day and year first above written.
Patriot Rail Corp | |
By: | /s/ Gary O. Marino |
Gary O. Marino | |
Its: | President and CEO |
B.H.I.T. Inc. | |
By: | /s/ Lawrence Rutstein |
Lawrence Rutstein | |
Its: | VP Administration |