Exhibit 10.1


 


 





 


July 8, 2019


 


Mr. Robert Costa 


V&R Costa Management,
LLC 


325 South Rivet Street,
Suite 302 


Hackensack, New Jersey
07647-2498


 


		Re:	Amendmentand
                                         Extension of Lease (this “Amendment”)
                                         between V&R Costa Management, LLC, as successor-in-interest to S & R Costa Realty,
                                         L.P. (“Landlord”),
                                         and Inrad, Inc. (“Tenant”),
                                         dated as of November 1, 2003 (as amended and extended, the “Lease”)
                                         concerning 41,935 sq. ft. located at certain premises commonly known as 181 Legrand Avenue,
                                         Northvale, New Jersey (the “Premises”)



 


Dear Mr. Costa:


 


The
following are the terms upon which Landlord and Tenant agree to amend the Lease, effective as of June 1, 2019 (all capitalized
terms not otherwise set forth herein shall have those meanings ascribed to them in the Lease):


 


	Extension of Term:	 	The
    term of the Lease shall be extended for a period of three (3) years, commencing June 1, 2019 and expiring May 31. 2022 (the
    “Extended Term”).
	 	 	 
	Base Rent:	 	Base
    rent during the Extended Term (6/1/19 — 5/31/2022) shall be $7.30 per square foot, net:


 


	Annual Rent	 	 	Monthly Rent	 
	$	306,125.50	 	 	$	25,510.46	 



 


	Renewal Option:	 	Tenant
    shall have the option to renew the Lease for an additional term of three (3) years (the “Renewal Term”)
    under the same terms, covenants and conditions of the Lease upon providing written notice to Landlord of such option exercise
    no later than six (6) months prior to the expiration of the Extended Term, subject to an increase in Base Rent during such
    Renewal Term (6/1/22 — 5/31/2025) to $7.75 per square foot, net:


 


	Annual Rent	 	 	Monthly Rent	 
	$	324,996.25	 	 	$	27,083.02	 



 


	Security Deposit:	 	The
    Security Deposit of $47,176.88 shall be increased by $3,844.04 upon the execution of this amendment. Landlord acknowledges
    and confirms receipt of said Security Deposit (as increased hereby).


 


181 Legrand Avenue, Northvale, NJ 07647      www.inradoptics.com
     P: 201-767-1910      F: 201-767-9644


 




     


     


    

  


	Mr. Robert
    Costa	July 8,
    2019
	V&R Costa Management,
    LLC	Page 2
	Hackensack, NJ 07601	 


 


	Work
    by Landlord:	 	Landlord
    has agreed, at its sole cost and expense, to (i) complete all repairs to the roof and safely secure the exterior metal stairs;
    (ii) bring the roof access into regulatory compliance; (iii) replace stained ceiling tiles throughout the Premises; (iv) repave
    and restripe the entire parking lot serving the Premises; and (v) repair or replace three non-functioning HVAC units (as identified
    by Tenant) (collectively, the “Landlord’s Work”). The parties agree that Landlord’s Work shall be
    completed by no later than December 31, 2019.
	 	 	 
	Broker	 	Landlord
    and Tenant each represents that it dealt with no broker in connection with this Amendment. Landlord and Tenant each indemnifies
    and holds the other harmless from any and all loss, cost, liability, claim, damage or expense (including court costs and attorneys’
    fees) arising out of any inaccuracy or alleged inaccuracy of the above representation.


 


All other
terms and conditions of the Lease remain in full force and effect. In the event of any conflict between the terms contained in
this Amendment and the Lease, the terms herein contained shall supersede and control the obligations and liabilities of the parties.


 


This Amendment
shall be binding upon and shall inure to the benefit of the parties and their permitted successors and/or assigns. This Amendment
becomes effective only upon execution and delivery hereof by Landlord and Tenant The captions of the paragraphs and subparagraphs
in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing
the provisions hereof.


 


If the
foregoing Amendment is acceptable, kindly countersign this Amendment where indicated below.


 


	 	Sincerely,
	 	 
	 	/s/ Theresa
    A. Balog
	 	Theresa
    A. Balog
	 	CFO,
    Secretary and Treasurer


 


	cc        Ms.
    Amy Eskilson	 
	 	 
	AGREED:	 
	 	 
	By Landlord:	 
	V&R Costa Management, LLC	 
	 	 
	By:	/s/ Mr. Robert Costa	 
	 	Mr. Robert Costa	 


 




     


     


    

 


Via
Regular Mail & Hand Delivery


Inrad
Optics 


181
Legrand Avenue 


Northvale,
New Jersey 07647


 


		RE:	Management
                                         Letter



520
Main Street, Fort Lee, New Jersey


 


Dear
Occupants/Licensees:


 


I,
the undersigned, hereby give you notice that I have transferred management and are in the process of transferring ownership of
the premises situated at 181 Legrand Avenue, Northvale, New Jersey 07647, which you currently occupy as a licensee, to V &
R Costa Management, LLC.


 


Therefore,
effective February 1, 2019, I hereby authorize and request you forthwith to pay all rents and obligations under your lease to
V & R Costa Management, LLC, the manager of the premises. All future rental payments shall be sent to V & R
Costa Management, LLC, c/o Costa Engineering Corp., 325 South River Street, Suite 302, Hackensack,
New Jersey 07601.


 


Thank
you.


 


	 	Very
    truly yours,
	 	The
    S & R Costa Realty Limited Partnership
	 	 
	 	/s/
    Anglo Costa
	 	Anglo
    Costa, Authorized Signatory