Exhibit 6.16
Amendment to
Stabilized Rice Bran Processing, Sales and Marketing Agreement
Sections 2.5 and 5.0 of the Stabilized Rice Bran Processing, Sales and
Marketing Agreement, dated as of June 28, 1994, between Farmers' Rice
Cooperative, a cooperative association organized under the California Food &
Agriculture Code ("FRC"), and Food Extrusion, Inc., a California corporation
("FoodEx"), is mutually amended as follows:
2.5 Timetable Each of the following shall be completed by the
respective date set forth below (each a "Milestone"):
(i) FoodEx shall have submitted initial design plans for the
Equipment to FRC, and shall have made such modifications thereto as FRC
then requires for approval under Section 2.2, by January 1, 1996;
(ii) Installation of the Equipment shall have commenced no
later than February 15, 1996;
(iii) Installation of the Equipment shall have been
substantially completed no later than March 15, 1996; and
(iv) Installation of the Equipment shall have been completed,
and the Equipment successfully tested, to FRC's satisfaction no later
than May 1, 1996.
Section 5. Clinical Study; FDA Approval
Within 180 days after the effective date of this Agreement,
FoodEx shall initiate and use its best efforts to diligently maintain, in
cooperation with a generally recognized university of research institution, a
reasonably designed human clinical study for the purpose of researching possible
health benefits of stabilized rice bran or its fractions.
IN WITNESS WHEREOF, the parties have executed this amendment
to the Stabilized Rice Bran Processing, Sales, and Marketing Agreement on this
date, April 16, 1996.
FARMERS'RICE COOPERATIVE FOOD EXTRUSION, INC.
By: /s/Xxxxxx X. Xxxxx By: /s/ Xxxxxx X. XxXxxx
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Name: Xxxxxx X. Xxxxx Name: Xxxxxx X. XxXxxx
Title: Vice President - Operations Title: Chairman & CEO
