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APDN > SEC Filings for APDN > Form 8-K on 15-Oct-2013All Recent SEC Filings

Show all filings for APPLIED DNA SCIENCES INC



Other Events

Item 8.01. Other Events.

On October 4, 2013, Applied DNA Sciences, Inc., as seller (the "Seller"), entered into a master option agreement with one of the four largest American Defense Contractors, as buyer ("Buyer"), and committed to supply one (1) unique SigNatureŽ DNA provenance mark for Buyer and SigNatureŽ DNA ink for marking up to 25,000 electronic components/year, upon Buyer's request through the issuance of a purchase order ("Goods"). For the Buyer, the agreement is an enterprise-wide option to purchase. The term of the agreement commenced on October 3, 2013 and expires October 3, 2023. Buyer has engaged a third-party marker, which third-party marker is and must remain approved by Seller, to provide certain services to incorporate Seller's ink onto certain electronic components of Buyer. Either party may terminate the agreement in the event of a material breach that is uncured for 30 days. Seller has received from Buyer one purchase order governed by these terms in the amount of $62,000 thus far. The agreement severely restricts publicity on behalf of both parties.

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