SECOND AMENDMENT TO LEASE
AGREEMENT (this "Agreement") made as of the 5th day of
November,
2007 by and between REP A10 LLC, a Delaware limited liability
company having
its principal office at 225 Broadhollow Road, Melville, New York
11747
(hereinafter called "Landlord"), and SCIENTIFIC INDUSTRIES, INC., a
Delaware
corporation having an office at 70 Orville Drive, Bohemia, New York
11788
(hereinafter called "Tenant").
RECITALS
WHEREAS, AIP Associates, predecessor-in-interest to Landlord and
Tenant
entered into an Agreement of Lease dated as of October __, 1989
(the "Original
Lease") for the lease of 25,000 square feet of space (the "demise
Premises" or
"Premises") in the building located at 70 Orville Drive, Bohemia,
New York (the
"Building");
WHEREAS, Tenant, by written notice to Landlord dated as of
December
16, 1998, exercised its option pursuant to Article 38 of the Lease,
to extend
the term of the Lease to and including December 31, 2004;
WHEREAS, Landlord and Tenant have entered into a First Amendment
of
Lease dated as of September 1, 2004 (the "First Amendment"),
whereby, among
other things, the term of the Lease was extended to and including
January 31,
2010;
WHEREAS, Tenant, by written notice to Landlord dated as of October
26,
2007, has exercised its option pursuant to Article 38 of the Lease
(as replaced
pursuant to Section 2.7 of the First Amendment (, to extend the
term of the
Lease to and including January 31, 2015 (the "Extended Expiration
Date"); and
WHEREAS, Landlord and Tenant desire to confirm Tenant's exercise of
its
renewal option by entering into this Agreement.
NOW, THEREFORE, in consideration of the mutual promises
contained
herein and for other good and valuable consideration, the receipt
and
sufficiency of which being hereby acknowledged, the parties agree
as follows:
ARTICLE I
Definitions
1.1 The recitals
are specifically incorporated into the body of this
Agreement and shall be binding upon the parties hereto.
1.2 Unless
expressly set forth to the contrary and except as modified by
this Agreement, all capitalized or defined terms shall have the
meanings
ascribed to them in the Lease.
1.3 The term
"Lease", as used herein, shall mean and refer to the Original
Lease, as modified and amended by the First Amendment.
ARTICLE II
Lease Modifications
Effective as of the date hereof, the Lease is and shall be modified
and
amended as follows:
2.1 Term.
Article I of the
Lease, as previously modified and amended by
Section 2.1 of the First Amendment, is hereby further modified
and
amended to provide that the term of the Lease is extended to and
including
the Extended Expiration Date, unless sooner terminated pursuant to
any of
the provisions of the Lease. All references made in the Lease
to the
"Expiration Date" or otherwise to the date upon which the term of
the Lease
expires shall mean and refer to the Extended Expiration Date.
2.2 Rent.
Article 3 of the
Lease, as previously modified and amended by
Section 2.2 of the First Amendment, is hereby further modified
and
amended as follows:
2.2.1 From the date hereof to and including January 31, 2010, Rent
sha