FIRST AMENDED ROYALTY AGREEMENT
THIS FIRST AMENDED ROYALTY AGREEMENT made and entered into this 29th Day of
September, 1997 by and between XXXXXXXXX X. XXXXXXXXX, M.D., Ph.D. ("SRB") who
has his principal place of business at 00000 Xxxxxxxx Xxxxxx, Xxxxx 000,
Xxxxxxx, Xxxxx 00000, and XXXXXXXXX RESEARCH INSTITUTE, INC., ("BRI"), A
Delaware corporation, with its principal place of business at 00000 Xxxxxxxx
Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxx 00000.
WHEREAS, the parties have heretofore entered into a Royalty Agreement dated
March 25th 1997; and
WHEREAS the parties desire to amend the Royalty Agreement;
NOW THEREFORE, the parties agree as follows:
1. Prior to FDA new drug approval ("NDA") SRB and BRI will operate
under the terms of the "Research Funding Agreement" effective
March 1, 1997.
2. After FDA NDA approval BRI shall produce all antineoplaston
products to be sold or distributed in the U.S., Canada and Mexico
for the treatment of cancer.
3. BRI will pay SRB a royalty interest equivalent to 10% (ten
percent) of BRI's gross income which shall include gross receipts
from all future sales, distribution and manufacture of
antineoplastons.
4. SRB will not pay any royalty fees to BRI for the right to produce
antineoplaston products for use in his medical practice.
5. SRB shall retain the right to either:
A. Produce antineoplaston products to use in his medical
practice to treat up to 1,000 patients.
B. Purchase antineoplaston products from BRI for use in his
medical practice to treat up to 1,000 patients. The price to
be paid by SRB to BRI will be BRI's cost plus 10%.
6. SRB shall have the right to either lease or purchase all the
manufacturing equipment located at 00000 Xxxxxxx Xxxxx, Xxxxxxxx,
Xxxxx at a fair market price to be determined by independent
appraisal.
7. BRI shall have the right to lease from SRB the entire premise
located at 00000 Xxxxxxx Xxxxx, Xxxxxxxx, Xxxxx at arms-length
terms at rates competitive with those available in the market at
that time, provided that SRB does not need the facility for his
use.
8. The Royalty Agreement dated March 25, 1997, shall continue in
effect except as it is inconsistent with this Amended Royalty
Agreement, in which case the Amended Royalty Agreement shall be
binding.
EXECUTED this 29th Day of September, 1997.
/s/ XXXXXXXXX X. XXXXXXXXX
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XXXXXXXXX X. XXXXXXXXX, M.D., PH.X.
XXXXXXXXX RESEARCH INSTITUTE, INC.
BY: /s/ XXXXXXXXX X. XXXXXXXXX
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TITLE: President
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