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ONCS > SEC Filings for ONCS > Form 8-K on 6-Jun-2013All Recent SEC Filings

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Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement.

On May 31, 2013, OncoSec Medical Incorporated (the "Company") and H.G. Fenton Property Company (the "Landlord") entered into a Standard Industrial Lease (the "Lease Agreement"). Pursuant to the Lease Agreement, the Company has leased certain premises of approximately 6,840 square feet located at 9810 Summers Ridge Road, San Diego, California (the "Premises") to serve as the Company's corporate headquarters. The term of the Lease Agreement is expected to commence on or about July 1, 2013 (the "Commencement Date"), and expires thirty eight
(38) months after the Commencement Date (the "Term"). The Company has an option to extend the Term for an additional thirty six (36) months.

The Lease Agreement provides for base rent as follows:

Month of Term Under Lease Agreement   Base Rent
1 to 12                               $ 8,140.00
13 to 24                              $ 8,384.00
25 to 36                              $ 8,636.00
37 to 38                              $ 8,895.00

In addition, the Company is required to share in certain operating expenses of the Premises and to deliver a $26,685.00 security deposit.

The foregoing description of the Lease Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease Agreement. A copy of the Lease Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

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