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ITEM 10.1a
MEMORANDUM OF AGREEMENT
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MEMORANDUM OF AGREEMENT
The parties hereby agree that the agreement entitled CONSULTING
AGREEMENT, dated April 19, 1996, supercedes the agreement entitled EMPLOYMENT
AGREEMENT, of even date with the CONSULTING AGREEMENT.
The parties hereby further agree to amend the CONSULTING AGREEMENT as
follows:
"4.2 PERCENTAGE OF FEES BASED ON GROSS PROCEEDS. In addition to the
monthly salary described in Section 4.1 above, the CONSULTANT shall be entitled
to two percent (2%) of the net revenues from the sale of the Erectile
Dysfunction product and any other products which the company may produce and
sell under Patent Application No. 08/573408, filed December 15, 1995. The
CONSULTANT shall receive this percentage for the life of Patent Application No.
08/573408 and any patents that may issue therefrom. Payment hereunder shall be
made to CONSULTANT within five (5) days after the beginning of each calendar
month subject to adjustment within thirty (30) days after the end of each
calendar year."
EXECUTED AS OF THIS 15 DAY OF MAY 1997 BY:
/Xxx Xxxxxxxx/ /Xxxxxx X. See/
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Xxx X. Xxxxxxxx Xxxxxx X. See M.D.
President
Harvard Scientific Corp.
