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.