On March 22, 2016 alpha-En Corporation entered into a lease with Hudson View Building #3, LLC (landlord), for office and laboratory space located in Yonkers, New York. The leased premise consists of approximately 8,000 square feet. The company has a right of first offer to lease certain additional space from the landlord when and if it becomes available for lease. The lease has a term of 87 months from the lease commencement date, which is the date upon which the landlord has substantially completed certain interior leasehold improvements to the leased premise. The annual rent for the first year of the lease is approximately $208,000, increasing by 1.5% on each anniversary of the lease commencement date. In the event of a termination of the lease following a default by the company, the company will be obligated to pay the sum of the rent payable for the remainder of the lease term.