Exhibit 10.2
February 1, 2007
Xxxxxx Capital Group LLC
000 Xxxxxxxxx Xxxxxx
Xxxxx 000
Xxx Xxxx, XX 00000
Dear Xxxxxxx:
As you know, pursuant to that certain letter agreement dated as of May 2006 (the
"Agreement"), Xxxxxx Capital Group LLC ("Xxxxxx") agreed to act as a financial
consultant to NeoStem, Inc. (the "Company") on the terms set forth therein.
The Agreement is for an initial term of twelve months and is scheduled to expire
in May 2007. This letter agreement is being provided to extend the term of the
Agreement through December 31, 2007.
The parties further acknowledge that the monthly retainer fee of $7,500 for
February 2007 through December 31, 2007 shall be paid in shares of the Company's
Common Stock based upon the closing price of the Common Stock as of the date of
this letter. The shares of Common Stock shall vest on a monthly basis through
December 31, 2007 and shall be included on the next registration statement filed
by the Company with the Securities and Exchange Commission. Except as set forth
herein, the terms of the Agreement will remain unchanged.
Please execute below to acknowledge your agreement with the foregoing.
Sincerely,
NeoStem, Inc.
By:/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx, Chairman and CEO
Agreed and accepted:
Xxxxxx Capital Group LLC
By:/s/ Xxxxxxx Xxxx
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Xxxxxxx Xxxx, President
