GELTECH SOLUTIONS, INC.
EXHIBIT 10.16
0000 Xxxx Xxxx Xxxxx, Xxxxx 0
Xxxxxxx, Xxxxxxx 00000
October 29, 2010
Lincoln Park Capital Fund, LLC
000 Xxxxx Xxxxx, Xxxxx 000
Xxxxxxx, XX 00000
Attention: Xxxx Xxxxxxxxxx/Xxxxxxxx Xxxx
Re: Purchase Agreement/Amendment
Gentlemen:
This letter agreement (the “Agreement”) documents our understanding regarding amending that certain Purchase Agreement dated September 1, 2010 (the “Purchase Agreement”) between Lincoln Park Capital Fund, LLC and GelTech Solutions, Inc. (the “Company”). This Agreement hereby amends the Purchase Agreement by deleting the following from Section 11(a) of the Purchase Agreement:
“By the Investor any time an Event of Default exists without any liability or payment to the Company. However, if”
The deleted portion above shall be replaced by:
“If”
All other terms and conditions of the Purchase Agreement shall remain in full force and effect. Please sign below acknowledging your acceptance to this Agreement.
|
Sincerely yours,
|
||
|
|
/s/ Xxxxxxx Xxxxxxx | |
| Xxxxxxx Xxxxxxx | ||
| Chief Executive Officer |
Acknowledged and agreed to as of the date written above:
LINCOLN PARK CAPITAL FUND, LLC
BY: LINCOLN PARK CAPITAL, LLC
BY: Rockledge Capital Corporation
|
/s/ Xxxx Xxxxxxxxxx
|
|
|||
|
Xxxx Xxxxxxxxxx
|
|
|||
|
President
|
|
