EXHIBIT 10.253
XXXXXX X. XXXXXXXX
VICE PRESIDENT, GENERAL COUNSEL & SECRETARY
19 December, 2002
Xxxxx Xxxxxx
PHARMACEUTICAL ROYALTIES INTERNATIONAL (CAYMAN) LTD.
000 Xxxxx Xxxxxx, Xxxxx 0000
Xxx Xxxx, XX 00000
VIA FACSIMILE AND U.S. MAIL
RE: SECOND AMENDMENT TO PURCHASE AGREEMENT DATED MARCH 6, 2002
Dear Xxxx:
Per our discussions, we wish to memorialize our agreement to move your
December 20, 2002 Notice Date to December 30, 2002 under our Purchase Agreement
dated March 6, 2002, as amended on July 29, 2002. Thus section 2.02(a) of that
agreement is hereby amended by deleting it in its entirety and replacing it with
the following:
"2.02 OPTIONS. (a) Seller hereby grants to Buyer the following
options, each exercisable at Buyer's sole discretion, to acquire rights to
receive additional percentages of both AHP Net Sales and Pfizer Net Sales on the
same terms as described above in Section 2.01(a). For clarity, such options may
be exercised only for additional percentages of both AHP Net Sales and Pfizer
Net Sales. Payment of the Option Exercise Price specified below represents
payment for the additional percentages of both the AHP Net Sales and the Pfizer
Net Sales.
---------------------------- ------------------------- -------------------------- ---------------------------
NOTICE DATE (EACH A EXERCISE DATE (EACH AN EXERCISE PRICE ADDITIONAL PERCENTAGE OF
"NOTICE DATE") "EXERCISE DATE") (EACH, AN "OPTION BOTH AHP NET SALES AND
EXERCISE PRICE") PFIZER NET SALES
---------------------------- ------------------------- -------------------------- ---------------------------
May 1, 2002 May 15, 2002 $3,000,000 0.125%
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---------------------------- ------------------------- -------------------------- ---------------------------
September 20, 2002 September 30, 2002 $3,500,000 0.125%
---------------------------- ------------------------- -------------------------- ---------------------------
---------------------------- ------------------------- -------------------------- ---------------------------
December 30, 2002 December 31, 2002 $3,850,000 0.125%
---------------------------- ------------------------- -------------------------- ---------------------------
---------------------------- ------------------------- -------------------------- ---------------------------
September 15, 2003 September 30, 2003 $12,500,000 0.250%
---------------------------- ------------------------- -------------------------- ---------------------------
---------------------------- ------------------------- -------------------------- ---------------------------
March 16, 2004 March 31, 2004 $16,000,000 0.250%
---------------------------- ------------------------- -------------------------- ---------------------------
---------------------------- ------------------------- -------------------------- ---------------------------
May 17, 2004 May 31, 2004 $10,500,000 0.125%
---------------------------- ------------------------- -------------------------- ---------------------------
All other provisions of the Purchase Agreement, as amended, remain in full force
and effect.
Very truly yours ACCEPTED AND AGREED:
PHARMACEUTICAL ROYALTIES
INTERNATIONAL (CAYMAN) LTD.
By:
/S/XXXXXX XXXXXXXX /S/XXXXX XXXXXX
Xxxxx Xxxxxx,
Attorney-in-fact
