Exhibit 10.23
AMENDMENT TO AGREEMENT DATED
MARCH 29, 2002
THIS AMENDMENT (the "Amendment") to the Agreement by and between MAS
Capital Inc. ("MAS") and Xxxxxxx Capital Group II, LLC, ("Xxxxxxx Capital
Group") as of the 29th day of March, 2002 (the "Agreement"), is made and entered
into by and between MAS and Xxxxxxx Capital Group as of this 17th of April 2002.
W I T N E S S E T H:
WHEREAS, it has been recently discovered that the Agreement contains an
error to wit, the Agreement states that MAS had been being granted an option to
purchase 100,000 shares of BioDelivery Sciences International, Inc. ("BDSI" or
the "Company") common stock (evidenced by Option No. NQ-00019 before the planned
1-for-4.370 reverse stock split) ("MAS Option"); and
WHEREAS, the reference to ownership of the MAS Option No. NQ-00019 is
inaccurate and that said option is owned by Xxxxx Xxxx, individually, and is not
owned by MAS.
NOW, THEREFORE, for good and valuable consideration in hand received,
including the mutual covenants and promises of the parties set forth herein, the
parties mutually agree as follows:
1. The Agreement is hereby amended to reflect that the MAS Option is
owned by Xxxxx Xxxx and is not owned by MAS.
2. By separate agreement (a copy of which is attached hereto as Exhibit
"A"), Xxxxx Xxxx has surrendered to BDSI Option No. NQ-00019 and has authorized
BDSI to cancel said Option No. NQ-00019. Exhibit "A" specifically references
that, as a result of said surrender and cancellation of Option No. NQ-00019,
Xxxxx Xxxx shall have no right or entitlement thereunder or otherwise, to
acquire any securities of BDSI.
3. MAS hereby represents and warrants that it has no interest in Option
No. NQ-00019 nor does it have any right or entitlement to acquire any shares of
capital stock from BDSI.
4. This Amendment constitutes the entire understanding of the parties
concerning the subject matter contained herein.
5. This Amendment shall be governed by and construed in accordance with
the laws of the State of Florida.
IN WITNESS WHEREOF, the parties set their hand and seal on the day and
year first above written.
MAS Capital Inc. Xxxxxxx Capital Group II, LLC
By: Xxxxx Xxxx By: /s/ Xxxxxxx X. X'Xxxxxxx
------------------------------- --------------------------------
Xxxxx Xxxx, President Xxxxxxx X. X'Xxxxxxx, Manager
