Exhibit 10.51
UNIGENE LABORATORIES, INC.
000 Xxxxxx Xxxxx Xxxx
Xxxxxxxxx, Xxx Xxxxxx 00000
Fusion Capital Fund II, LLC October 9, 2003
000 Xxxxxxxxxxx Xxxx Xxxxx, Xxxxx 0-000
Xxxxxxx, Xxxxxxxx 00000
re: Unigene Laboratories, Inc.
Gentlemen:
This letter is being delivered to confirm our understanding with
respect to certain issues under that certain Common Stock Purchase Agreement,
dated as of date hereof (the "Purchase Agreement"), by and between UNIGENE
LABORATORIES, INC., a Delaware corporation (the "Company") and FUSION CAPITAL
FUND II, LLC ("Fusion"), and the warrant issued to Fusion in connection
therewith dated as of the date hereof (the "Warrant") pursuant to which Fusion
may purchase up to 500,000 shares of Common Stock ("Warrant Shares"). All
capitalized terms used in this letter that are not defined in this letter shall
have the meanings set forth in the Purchase Agreement. The Company and Fusion
agree as follows:
The Warrant is hereby amended such that the number of Warrant
Shares that may be purchased pursuant to the Warrant is 250,000,
subject to adjustment as provided in the Warrant.
UNIGENE LABORATORIES, INC.
By: /s/ Xxxxxx X. Xxxx
------------------------
Name: Xxxxxx X. Xxxx
Title: President and CEO
ACKNOWLEDGED AND AGREED:
FUSION CAPITAL FUND II, LLC
By: /s/ Xxxxxx X. Xxxxxx
------------------------
Xxxxxx X. Xxxxxx
Managing Member
