Exhibit 10.7.B
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THIS AMENDMENT amends that certain Extension of Collaboration Agreement
entered into by and among Neah Power Systems, Inc., a Nevada corporation (the
"COMPANY"), Neah Power Systems, Inc., a Washington corporation (the
"SUBSIDIARY") and Novellus Systems, Inc. ("NOVELLUS") dated May 24, 2006 (as
earlier amended on August 22, 2006, the "LETTER AGREEMENT"), and is entered into
by and among the Company, the Subsidiary and Novellus as of September 29, 2006
(the "AMENDMENT").
WHEREAS, the parties desire to amend the Letter Agreement in certain
respects;
NOW, THEREFORE, in consideration of the foregoing and intending to be
legally bound hereby, the parties hereto agree as follows:
1. Capitalized terms used but not defined herein shall have
the meanings given such terms in the Letter Agreement.
2. Section 1 is hereby deleted and replaced in its entirety
by the following:
1. Extension of Collaboration Agreement; Novellus Existing
Indebtedness:
The Collaboration Agreement is hereby extended as provided for herein, and
Purchaser hereby agrees to guarantee any outstanding obligations of Neah
thereunder. To the extent that the Merger Agreement gives Novellus the
opportunity to convert up to $150,000 of indebtedness owed by Neah to common
stock of the Purchaser, Purchaser and Neah acknowledge and agree that Novellus
has determined not to convert any of this indebtedness to common stock, with the
result that such indebtedness remains outstanding and payable to Novellus by
Neah and is guaranteed by Purchaser as provided above. This indebtedness will be
due and payable on or before November 30, 2006."
3. Except as amended hereby, the Letter Agreement shall
remain unmodified and is hereby ratified in all respects.
4. This Amendment may be executed and delivered (including
by facsimile transmission) in one or more counterparts, and by the different
parties hereto in separate counterparts, each of which when executed and
delivered shall be deemed to be an original but all of which taken together
shall constitute one and the same agreement.
[SIGNATURES ON NEXT FOLLOWING PAGE]
IN WITNESS WHEREOF, the Company, the Subsidiary and Novellus have executed this
Amendment as of the date first written above.
COMPANY:
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NEAH POWER SYSTEMS, INC.
(a Nevada corporation)
/s/ Xxxx Xxxxxxxxxx
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By: Xxxx Xxxxxxxxxx
Its: President & CEO
SUBSIDIARY:
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NEAH POWER SYSTEMS, INC.
(a Washington corporation)
/s/ Xxxx Xxxxxxxxxx
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By: Xxxx Xxxxxxxxxx
Its: President & CEO
NOVELLUS:
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NOVELLUS SYSTEMS, INC.
(a California corporation)
/s/ Xxxxxxx Van Den Hoek
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By: Xxxxxxx van den Hoek
Its: Executive VP
