EXHIBIT 10.7
Third Revision to Engagement Letter dated March 21, 2000 between the Company and
ICE Holdings North America, L.L.C. dated December 22, 2000
22 December ▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇,
▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ LLC,
13th Floor - ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇.,
▇▇▇ ▇▇▇▇, ▇▇, ▇▇▇▇▇
Dear ▇▇▇▇▇▇:
Re: Issuance of Warrants - Third Amendment to our letter agreement of March 21,
2000 (the "Letter Agreement")
Thank you for all of your work in arranging for Meditor to invest an additional
$2,000,000 in ▇▇▇▇▇▇▇▇▇.▇▇▇. Receipt of these funds marks the completion of the
Institutional Round described in the Letter Agreement.
In recognition of your services and efforts, we agree to amend item E of the
Letter Agreement as follows:
1. Of the second tranche of 250,000 warrants which we agreed to issue to ICE
upon completion of the Institutional Round, all 250,000 warrants will be
priced at $1.00.
2. Of the first tranche of 250,000 warrants issued pursuant to the
Institutional Round, the warrants will remain priced at amounts between
$1.00 and $1.50, as detailed in the Second Amendment to the Letter
Agreement dated November 28, 2000.
All defined terms used in this letter that are not defined herein shall have the
meaning ascribed to them in the Letter Agreement.
▇▇▇▇▇▇, if this is acceptable to you, please indicate your approval by signing
below and returning to me.
Sincerely,
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇,
Vice President and CFO
