October 26, 2017
Exhibit 6.3
October 26, 2017
Xxx Xxxxx
President and CEO
0000 Xxx Xxxx Xxxxxx, Xxxxx 000
Xxxxxxxxx, XX 00000
Superintendent Wen Xxx Xxxxxx
Xx. 0, Xxxxxx Xxxxxx, Guishan District
Taoyuan City 333, Taiwan (R.O.C.)
Dear Superintendent Cherng:
Pursuant to discussions between the Parties, the Option Agreement to License and Commercialize Pan-Cancer Test Algorithm (“Agreement”) between CGMH and 20/20 GeneSystems shall be amended as follows:
Article XVII shall be added to the Agreement and shall state: The Parties agree that during the Term of the Agreement (but not after 20/20 takes custody of the algorithm and raw data), 20/20 may send data from patient specimens run in the United States to CGMH for processing, and CGMH will return the results of the analysis and patient reports to 20/20, for which CGMH will be paid $0.00 / patient for the first 50 patients and will be paid $20.00 per patient for each patient thereafter.
1. | Appendix A to Option Agreement, item No. 2., shall read: |
“2. License Fee: $150,000.00 in cash and $300,000.00 in common stock. This fee will be due February 28, 2018. The share price would be based on 20/20’s last sale or written offer of stock to a professional investor as of the date that the License Agreement is entered.”
2. | Appendix A, item 4b shall read: |
“b. Commercial Milestones: $100,000.00 cash due and payable upon the earlier of 20/20 reaching $2,000,000.00 in overall revenues, or when the cumulative profit margin due to sales directly attributable to the CGMH Technology is at least $450,000.00.
3. | The Option Fee described in Article IV(c) shall be due before November 30, 2017. |
All other terms and conditions of the original Agreement, as herein amended, shall continue in full force and effect during the term of the Agreement. If the foregoing terms and conditions are acceptable, please sign, date and return a pdf version of this amendment to me by email at xxxxxx0000xxxx.xxx.
Very truly yours, | AGREED AND ACCEPTED: | |||
20/20 GeneSystems | XXXXX GUNG MEMORIAL HOSPITAL, LINKOU | |||
By | /s/ Xxxxxxxx Xxxxx | By | /s/ Wen Xxx Xxxxxx | |
Xxxxxxxx Xxxxx | Wen Xxx Xxxxxx Superintendent | |||
Date | 11/24/17 | Date | Nov. 23. 2017 |