EXHIBIT 10.61
Nexell Therapeutics Inc.
0 Xxxxxx
Xxxxxx, Xxxxxxxxxx 00000
As of May 25, 1999
Xx. Xxxxxx X. Xxxxxxx
c/o MacAndrews & Forbes
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX
Re: Amendment to November 17, 1995 Stock Option Agreement
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Dear Xx. Xxxxxxx:
This letter constitutes an amendment to the Stock Option Agreement dated as
of November 17, 1995 (the "Option Agreement") between you and Nexell
Therapeutics Inc. (formerly named VIMRx Pharmaceuticals Inc.) as follows:
In consideration of your willingness to extend your consulting services for
a period of three years, the parties hereto acknowledge and agree that the
expiration date of the "Option" (as each of those terms is defined in the Option
Agreement) is extended from November 16, 2000 to November 16, 2003, subject to
approval by the Company's shareholders as required by rules of The NASDAQ Stock
Market, Inc. In addition, you shall be entitled to a "cashless exercise"
provision consistent with the cashless exercise provision authorized under the
Company's 1997 Incentive and Non-Incentive Stock Option Plan.
Except as expressly set forth herein, the Option Agreement shall remain in
full force and effect.
Please sign below in the space provided to signify your consent to the
foregoing amendment.
Very truly yours,
NEXELL THERAPEUTICS INC.
By: /s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
Chairman of the Board and Chief
Executive Officer
I hereby acknowledge and agree to the foregoing amendment.
/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
