Exhibit 10.18
EXTENSION AGREEMENT
This Extension Agreement is entered into as of the 5th day of March, 1996
by Metasyn, Inc., a Delaware corporation with its principal place of business
located at 00 Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx 00000, XXX ("Metasyn")
and Summit Pharmaceuticals International Corporation, a Japanese corporation
with its principal place of business located at Xxxxxx 0xx Xxxxxxxx, 0-00
Xxxxxxxxxxxxxxx, Xxxxxxx-xx, Xxxxx 000 Xxxxx ("Summit").
WHEREAS, Metasyn and Sumitomo Corporation ("Sumitomo") entered into an
Agency Agreement dated March 13, 1992, as amended by an Amendment dated
June 26, 1992 and further amended by an Amendment Agreement dated September 15,
1994 (collectively, the "Agreement");
WHEREAS, Sumitomo assigned all of its rights and obligations under the
Agreement to Summit as of October 1, 1995; and
WHEREAS, Metasyn and Summit agree to extend the term of the Agreement for
one year as set forth herein;
NOW, THEREFORE, in consideration of the mutual covenants and agreements
as set forth in the Agreement, the parties agree as follows.
1. Pursuant to Section 11.1 of the Agreement, the term of the Agreement
is hereby extended to March 13, 1997.
2. Except as expressly provided herein, all other terms and conditions
of the Agreement shall continue to be effective and remain unchanged.
IN WITNESS WHEREOF, the parties hereto have caused this Extension
Agreement to be executed by their respective duly authorized representatives
as of the date first written above.
METASYN, INC.
By: /s/ Xxxxxxx X. Xxxx
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Name: Xxxxxxx X. Xxxx
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Title: President and CEO
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SUMMIT PHARMACEUTICALS
INTERNATIONAL CORPORATION
By: /s/ Akikazu Tamai
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Name: Akikazu Tamai
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Title: President and CEO
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