MARC PHARMACEUTICALS, INC.
000 XXXXXXX XXXXXX
XXXXXXXX, XX 00000
March 1, 2005
Xx. Xxxxxxx Xxxxx
Xx. Xxxxxx Xxxxxxxxx
Xx. Xxxxx Xxxxxx
Xxxxx Medical College of Cornell University
Office of Research & Sponsored Programs
0000 Xxxx Xxxxxx, Xxxx X-000
Xxx Xxxx, XX 00000
Xx. Xxxx X. Xxxxxx
000 Xxxx 00xx Xxxxxx, Xxxx 000
Xxx Xxxx, XX 00000
Re: Sponsored Research Agreement between Marc Pharmaceuticals, Inc. and
Weill Medical College Cornell University dated January 22, 2004 (the
"Agreement")
Dear Ladies and Gentleman:
This letter is to confirm our understanding that the first payment to be
made under the Agreement, pursuant to Section 4.1 which provided that $187,500
shall be paid by June 30, 2004, and the letter from us to you dated July 9, 2004
which provided instead that the payment be paid as follows: $75,000 by July 15,
2004 and $112,500 by November 12, 2004, shall be revised again as follows:
$147,500 has already been paid and the additional $40,000 shall be paid by May
1, 2005.
In addition, this letter is to confirm our understanding that the second
payment to be made under the Agreement, pursuant to Section 4.1 which provided
that $187,500 shall be paid by April 1, 2005, shall instead be paid by July 1,
2005.
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We trust that the foregoing represents the understanding between us. Please
indicate your confirmation by signature and return of the enclosed copy.
Sincerely,
Marc Pharmaceuticals, Inc.
By:
-------------------------------
Name: Xxxxxx X. Xxxxx
Title: President
We hereby confirm our agreement and understanding of the foregoing:
Weill Medical College of Cornell University
By:______________________________
Name:___________________________
Title:_____________________________
Principal Investigator
By
--------------------------------
Xx. Xxxx X. Xxxxxx
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