Exhibit 10.17
LETTER AGREEMENT DATED JANUARY 10, 1998
BETWEEN THE COMPANY AND MINNESOTA MINING &
MANUFACTURING, INC.
[INFORMATION PLACED IN BRACKETS [ ] HAS BEEN
OMITTED IN ACCORDANCE WITH A CONFIDENTIAL
TREATMENT REQUEST PURSUANT TO RULE 406 AND
HAS BEEN FILED SEPARATELY WITH THE COMMISSION
Medical Specialties
3M Health Care 0X Xxxxxx
Xx. Xxxx, XX 00000
000-000-0000
January 21, 1998
Xx. Xxxxxxx Xxxxx
Xxxxxx Technologies
000 Xxxxx Xxxx Xxxxxx
Xxxxxxxx, XX 00000
Fax: 000-000-0000
Dear Xxxxxxx,
Per today's telephone conversation, I confirm our agreement to the 1998
Thermasorb volumes and pricing laid out in the Attachment A of your letter of
January 15.
I confirm, additionally, that the payment terms will be net 30 days from invoice
and that Xxxxxx Technologies will provide a schedule of delivery for the fill
materials to be provided. Lead time of 4-6 weeks after receipt of fill materials
can be expected.
We look forward to a year of further growth of the Thermasorb products and
finalizing our supply agreement for the ongoing program.
Thanks again and best regards,
\s\ W. Xxxxx Xxxxxx
----------------------------
W. Xxxxx Xxxxxx
Business Development Manager
Cosmetic Materials
Attachment A
Non-Binding, Estimate; Thermasorb(R) Production Requirements - 1998
Xxxxxx P/N Fill Material Qty. Lbs (Est.) Price Per Lb.
------------------------- ---------------------- ----------------------- -------------------------------------------------------
Thermasorb 83 Octadecane 10,000** [This information has been omitted in accordance with
a Confidential Treatment Request and has been filed
separately with the Commission.]
Thermasorb 83 Octadecane 60,000 [This information has been omitted in accordance with
a Confidential Treatment Request and has been filed
separately with the Commission.]
Thermasorb 122 C23/27 Blend* 4,000 [This information has been omitted in accordance with
a Confidential Treatment Request and has been filed
separately with the Commission.]
Thermasorb 65 Hexadecane 4,000 [This information has been omitted in accordance with
a Confidential Treatment Request and has been filed
separately with the Commission.]
Thermasorb 96 C20/24* 2,500 [This information has been omitted in accordance with
a Confidential Treatment Request and has been filed
separately with the Commission.]
Thermasorb 43 Tetradecane 2,500 [This information has been omitted in accordance with
a Confidential Treatment Request and has been filed
separately with the Commission.]
---------------
* Will be provided to 3M blended
** Carry over from PO 1219 and will be assessed a 5% surcharge [This information
has been omitted in accordance with a Confidential Treatment Request and has
been filed separately with the Commission.] per pound
Total Production.............. 83,000 lbs.
New Production................ 73,0000 lbs.
x Xxxxxx will agree to 3M manufacturing all the above Production Requirements on
or before 5/31/98.
x Xxxxxx will accept delivery of all of the above Production Requirements except
Thermasorb 83, Octadecane, 60K lbs. on or before 5/31/98.
x Xxxxxx will accept delivery of Thermasorb 83, Octadecane, 60K lbs. on or
before 12/31/98.
