EXHIBIT 10.2
Amendment to the Manufacturing Agreement
This Amendment made and entered by and between REAADS Medical Products, Inc.,
00000 Xxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxxx, Xxxxxxxx 00000, U.S.A., and ChugAI
Pharmaceutical Co., Ltd., 0-0 Xxxxxxxx 0-xxxxx, Xxxx-xx, Xxxxx 000, Xxxxx, to
amend the existing Manufacturing Agreement between the parties dated September
1, 1994 for manufacturing of improved Hyaluronic Acid assay kit as follows:
1. The Article 2 of the Manufacturing Agreement shall be amended in its entirety
to read as follows:
"Chugai shall compensate RMP in the total amount of One Hundred Fifty
Thousand Dollars ($150,000) in two equal installments payment for the
costs incurred by RMP in the development of the Developed Product. The
first installment is due and payable December 1994, and second June
1995."
2. The second paragraph of Article 3 of the Manufacturing Agreement shall be
amended to read as follows:
"Upon conversion of the exclusive license granted to RMP into a
nonexclusive license, Chugai shall have the rights, pursuant to the
license granted to it by RMP under Article 4 hereof, to manufacture the
Developed Product in its facilities or to have the Developed Product
manufactured by any other party. Chugai shall pay a royalty to RMP in
respect of such license equal to three percent (3%) of its Net Sales of
the Developed Product manufactured by a party other than RMP during the
term of this Agreement."
3. The article 6.3 of the Manufacturing Agreement shall be deleted.
In Witness Whereof, the parties hereto have caused this Amendment to be signed
by their respective duly authorized representatives.
REAADS Medical Products, Inc. Chugai Pharmaceutical Co., Ltd.
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxx Xxxx
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Xxxx X. Xxxxx, M.D. Xxxx Xxxx
Title: President Title: Director and General Manager
date: January 17, 1995 Date: 22nd December 1994
