MARYLAND TECHNOLOGY DEVELOPMENT CENTER LICENSE AGREEMENT AMENDMENT 10
Exhibit 10.24
MARYLAND TECHNOLOGY DEVELOPMENT CENTER
AMENDMENT 10
This addendum is made this 20th day of August, 2009, by and between MEDCO and Neogenix Oncology, Inc. (“Licensee”).
WHEREAS, MEDCO and Licensee have entered into a License Agreement dated April 28, 2004;
WHEREAS, Licensee currently occupies Labs #211 and #222, and offices #261, #262, #267 and #317 in the Maryland Technology Development Center in Xxxxxxxxxx County, Maryland (the “Original Premises”);
WHEREAS Licensee wishes to expand its lab space within the Maryland Technology Development Center and MEDCO is willing to provide for such expansion based on the terms provided for below;
NOW, THEREFORE, in consideration of the mutual covenants and agreements stated herein, the parties agree as follows:
| 1. | Effective September 1, 2009, Licensee shall occupy lab #226 (the “Expansion Premises”). |
| 2. | The monthly payment for the Expansion Premises shall be as follows: |
| From September 1, 2009 to April 30, 2010 |
$ | 3,993 |
| 3. | The aggregate Monthly Payment, to include the Monthly Payment for the Original Premises and the Reduction Premises provided for herein shall be as follows: |
| From May 1, 2010 to April 30, 2011 |
$ | 14,154 | |
| Renewal Term (if granted by MEDCO) From May 1, 2011 to April 30, 2012 |
$ | 15,569 | |
| 4. | On or before the Effective Date of this Amendment, Licensee shall pay to MEDCO a sum equal to one (1) Monthly Payment for the Expansion Premises, to be held by MEDCO as security deposit for the full, faithful and punctual performance by Licensee’s terms, covenants and conditions contained herein for the full term of the License Agreement. At such time that this License Amendment commences, Licensee shall be required to pay a sum of $3300.00 as additional security deposit. |
| 5. | All other provisions of the original License Agreement shall apply to this Amendment |
This Amendment may be signed in counterparts.
| FOR: | Maryland Economic Development Corporation |
FOR: | Neogenix Oncology, Inc. |
| BY: | /s/ Xxxxx Xxxxxxx |
BY: |
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| Xxxxxx Partners, Inc. | ||||||
| Center Manager |
| Date: | 8/26/09 | Date: | 8/20/09 | |||||
| BY: | /s/ Xxxxxx X. Xxxxxxx |
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| Xxxxxx X. Xxxxxxx | ||||||||
| Executive Director, MEDCO | ||||||||
| Date: | 8/31/09 | |||||||
