Ms. Barbara Pifel Weill Medical College of Cornell University
Exhibit
10.26
October
19, 2005
Xx.
Xxxxxxx Xxxxx
Xxxxx
Medical College of Cornell University
Office
of
Research & Sponsored Programs
0000
Xxxx
Xxxxxx, Xxx 00
New
York,
NY 10021
Xx.
Xxxx
X. Xxxxxx
Xxxxx
Medical College of Cornell University
000
Xxxx
00xx
Xxxxxx,
Room 412
New
York,
NY 10021
Re:
Sponsored
Research Agreement between Xxxx Xxxxxxxxxxxxxxx, Inc. and
Weill
Medical College Cornell University dated January 22, 2004 (the
“Agreement”)
Dear
Xxxxxxx:
In
connection with the Agreement, we have been asked to indicate our intention
with
respect to the second year of the term in order that you can make appropriate
arrangements with the necessary scientific personnel.
This
is
to confirm that we intend to continue the Agreement for a second year and
to
fund the research during that year. However, given various circumstances
surrounding the research project, we believe that there should be a modification
to the payment amount and structure for the second year. To fully replace
the
$312,500 payment which was to have been due on December 1, 2005 for the second
year’s research, we would like the payments for year two to be $250,000 and the
payment schedule to be as follows:
|
November
1, 2005
|
$25,000
|
|
March
1, 2006
|
$50,000
|
|
June
1, 2006
|
$75,000
|
|
September
1, 2006
|
$100,000
|
We
trust
that the foregoing will be acceptable to you as a modification to the Agreement.
If it is, please indicate your confirmation by signature and return of the
enclosed copy.
Sincerely,
Marc
Pharmaceuticals, Inc.
By:_____________________
Name:
Xxxxxx X. Xxxxx
Title:
President
We
hereby
confirm our agreement and understanding of the foregoing:
Weill
Medical College of Cornell University
By:______________________________
Name:
Title:_____________________________
Principal
Investigator
__________________________
Xx.
Xxxx
X. Xxxxxx
