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Exhibit 10.40
CONFIDENTIAL
September 28, 1998
Implant Sciences
000 Xxxxxxx Xxxx, #0
Xxxxxxxxx, XX 00000-1246
Attn: Xxxx Xxxxx
Dear Xxxx,
In follow up to the meeting on September 2nd, this letter modifies the Research
and Development Agreement dated May 1998 between Implant Sciences Corporation
("ISC") and Guidant Corporation ("Guidant") to reflect what has been discussed.
1. Xxxxxxx agrees to the ISC proposal to substitute [Redacted Text] for
[Redacted Text]. All mention of [Redacted Text] should be replaced with
[Redacted Text].
2. Xxxxxxx agrees to the ISC timeline extension for stent delivery as
proposed by ISC on September 2nd, 1998.
[Redacted Text] December 15th
[Redacted Text] January 31st
[Redacted Text] February 15th
The second sentence of Section 4.5 of the May 1998 agreement, Term and
Termination, shall be modified to reflect a nine month instead of six month
anniversary as follows: Notwithstanding the foregoing, Guidant may terminate
this Agreement at any time by written notice to ISC on or after the nine month
anniversary of the date first written above if ISC has not delivered to Guidant
radioactive stents ready for implanting in Guidant's animal studies for each of
the three different isotopes identified in Section 3 above.
3. Section 3 shall be modified as follows:
The isotopes and quantities listed as [Redacted Text], and [Redacted Text] shall
instead read:
Upon delivery of [Redacted Text] stents satisfying the specifications defined in
Exhibit Y: $[Redacted Text]
Upon delivery of [Redacted Text] stents satisfying the specifications defined in
Exhibit Y: $[Redacted Text]
Upon delivery of [Redacted Text] stents satisfying the specifications defined in
Exhibit Y: $[Redacted Text]
4. The "Suggested timeline" in Exhibit Y shall be modified to read as follows:
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CONFIDENTIAL
Suggested Timeline*:
All isotopes delivered to the following schedule of isotopes, quantities, and
delivery dates:
[Redacted Text]
*The total activity on the stent will be decided at the time of "order"
(coordination with test sites is needed for the specific time).
Certainly, if there are any questions, please do not hesitate to call me at
(000) 000-0000. If you agree please sign both copies and return one back to me.
Sincerely,
/s/ illegible signature
Xxxx Xxxx
VP General Manager Stent Business Unit
Guidant Corporation
Agreed:
/s/ Xxxxxxx X. Xxxxxx
By:______________________
Xxxx Xxxxxx
President
Implant Sciences Corporation
