PHANOS TECHNOLOGIES, INC.
X/X XXXXXXXXXXXX
0000 XXXXXXX XX.
XXXXXX XXXX, XX 00000
October 17, 0000
Xxxxxx Xxxxxxxxx
Zynaxis, Inc.
000 Xxxxxxxxxxxx Xxxx
Xxxxxxx, XX 00000
RE: EXCLUSIVE LICENSE AGREEMENT WITH PURCHASE OPTION
Dear Martyn:
Reference is made to the signed Exclusive License Agreement with Purchase Option
dated September 23, 1996 (the "Agreement") between Phanos Technologies, Inc. and
Zynaxis, Inc.
Paragraph 4 of the Agreement is hereby amended to provide that the $150,000
portion of the Exclusive License Fee described therein be payable $75,000 on
October 18, 1996 and $75,000 on October 23, 1996.
Paragraph 5 is amended to provide that the Running Royalties on Sales will
terminate upon the expiration of the last patent included in the Zynaxis
Information.
Paragraph 11 is amended to provide that Phanos may disclose the Zynaxis
Information to a third party if that third party has entered into a
Confidentiality Agreement with Phanos in a form reasonably acceptable to
Zynaxis.
The last sentence in Paragraph 14 is amended to include reference to the
Marketing Rights Agreement dated July 24, 1996.
Other than those specific changes noted above, the Agreement shall remain
unchanged and in full force and effect.
Yours sincerely, AGREED AND ACCEPTED:
Phanos Technologies, Inc. Zynaxis, Inc.
by: /s/ Xxxxxxx Xxxxxx by: /s/ Xxxxxx X. Xxxxxxxxx
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its: Secretary its: Chief Executive Officer
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cc: Xxxxxxx Xxxxxx
Xxxx Xxxxxxx, Esq.
