Re: Exclusive Option Agreement – Amendment (Depletion of mtDNA)
Exhibit 10.2
January 11, 2021
Enviro Therapeutics, Inc.
0000 Xxxxxxxx Xxxx., #000
Los Angeles, CA 90064
Attention: Xxxx Xxxxxxxx, Ph.D., CEO
Re: Exclusive Option Agreement – Amendment (Depletion of mtDNA)
Dear Xx. Xxxxxxxx:
Upon execution by you, this letter will serve as the Amendment (“Amendment”) to the Exclusive Option Agreement entered on March 16, 2020 (“Agreement”), by and between Cedars-Sinai Medical Center, a California nonprofit public benefit corporation (“CSMC”), and Enviro Therapeutics, Inc. (“Licensee”) for the above-referenced technology.
The parties to the Agreement hereby agree as follows:
1. The parties agree to extend the 9-month option term set forth in Section 4 of the Agreement for an additional six (6) month period, which will end on June 15, 2021. In consideration thereof, Licensee agrees to pay to CSMC a non-refundable extension fee of Five Hundred Dollars ($500.00) (“Extension Fee”), payable in cash, no later than thirty (30) days after the execution of this Agreement. The Extension Fee may be credited against any license fees payable under the Exclusive License in the event that the Parties enter into the Exclusive License.
2. The terms and conditions of the Agreement shall remain in full force and effect as modified by this Amendment, and this Amendment shall be deemed a part of the Agreement. In the event of a conflict between a provision of this Amendment and a provision of the Agreement, this Amendment shall govern.
If this Amendment to the Agreement is acceptable to you, please return a signed copy of it to Cedars-Sinai Medical Center, 0000 Xxxxxxx Xxxx., Xxx Xxxxxxx, Xxxxxxxxxx 00000, at your earliest convenience.
| Sincerely yours, | |
| CEDARS-SINAI MEDICAL CENTER | |
| /s/ Xxxxx X. Xxxx, XX | |
| Xxxxx X. Xxxx, XX | |
| Vice President, Intellectual Property |
ACKNOWLEDGED AND AGREED TO
As of the date first set forth above
| ENVIRO THERAPEUTICS, INC. | ||
| Approved | ||
| /s/ Xxxx Xxxxxxxx, Ph.D. | ||
| Xxxx Xxxxxxxx, Ph.D. | Technology Ventures | |
| CEO |
