1
EXHIBIT 10.28
February 25, 1998
Xxxxxx X. Xxxxxxx
President
Bend Research, Inc.
00000 Xxxxxxxx Xxxx
Xxxx, XX 00000
Re: Reduced R&D Programs obligation under the License Agreement (the
"Agreement") dated November 1, 1993 between Consep, Inc. ("Consep") and
Bend Research, Inc. ("Bend") for the calendar year 1998.
Dear Xxxxx:
Pursuant to Paragraph 4.2 of the Agreement, this letter is to confirm
our mutual agreement regarding Consep's R&D Program obligation, as set forth in
Paragraph 4.1 of the Agreement. Bend agrees with Consep that a reduction in that
obligation is needed to maximize the value of our investment. The R&D Program
obligation is, therefore, reduced to no minimum requirement for the calendar
year 1998. Also, during 1998 there is no required portion of the R&D Program
obligation that must be spent on biorational products. Except as set forth
above, the rights of the parties under the Agreement shall remain unchanged.
This reduction in Consep's R&D Program obligation does not constitute
any intent to reduce that obligation in any subsequent calendar year or to
reduce any other Consep obligation during 1998 or any subsequent calendar year.
If the above accurately reflects your understanding of our mutual
agreement, please sign and date the enclosed copy of this letter and return it
to me.
Best regards,
/s/ Xxxxxx X. Xxxxx
-------------------------
Xxxxxx X. Xxxxx
President
Accepted and agreed to:
BEND RESEARCH, INC.
By: /s/ Xxxxxx X. Xxxxxxx Date: February 26, 1998
-------------------------
Xxxxxx X. Xxxxxxx
