LICENSE AGREEMENT AMENDMENT #2
Exhibit 10.11
AMENDMENT #2
WHEREAS, effective as of December 1, 2014, and as further amended September 20, 2016, Miromatrix Medical Inc., a corporation organized under the laws of the State of Delaware and having an office at 00000 Xxxx 00xx Xxxxxx, Xxxx Xxxxxxx, XX 00000 ("Miromatrix") and Mayo Foundation for Medical Education and Research, a not for profit corporation with an address at 000 Xxxxx Xxxxxx XX, Xxxxxxxxx, XX 00000 ("Mayo") executed a License Agreement (the "Agreement") for Services as outlined in the Agreement.
WHEREAS, Miromatrix and Mayo wish to amend said Agreement.
NOW, THEREFORE, Miromatrix and Mayo agree as follows:
| 1. | The Term of the Agreement shall be extended for an additional one year period. Accordingly, the new expiration date of the Agreement shall be December 31, 2018. |
| 2. | Miromatrix has agreed to provide additional funding of $60,000 for year three of the Project. Accordingly, the attached Exhibit B-1 shall amend Section 3 of the Agreement. |
| 3. | Except as specifically provided herein, the terms and conditions of the Agreement shall remain in force. |
IN WITNESS WHEREOF, the Parties have executed this Amendment which shall be effective as of the last dated signature below.
| MIROMATRIX MEDICAL INC. | MAYO FOUNDATION FOR MEDICAL EDUCATION AND RESEARCH | |||
| By: | /s/ Xxxx Xxxx | By: | /s/ Xxxxxxx X. Xxxxx | |
| Name: | Xxxx Xxxx | Name: | Xxxxxxx X. Xxxxx | |
| Title: | CEO | Title: | Operations Manager | |
| Date: | 9/5/2017 | Date: | 9/12/2017 | |
Budget - Exhibit B-1
TT MAYO CLINIC
PI Name: Xxxxx Xxxxxx, MD, PhD
MCR Funding Proposal Number: FP86573-41-A1-41
Sponsor; Miromatrix Medical Inc.
Date: 8/2/17
Study Title: Amendment #2: Miromatrix/Mayo Transplantable Liver Project (Xxxxxx}
| 1/1/18-12/31/18** | ||||
| Personnel: (Includes salary and benefits"): | ||||
| Xx. Xxxxx Xxxxxx, PI | 23,076 | |||
| Lab Supplies: | ||||
| Hapatccyte Isolation | 7,693 | |||
| Large Animal Care - Chronic | 15,385 | |||
| Sub-Total | 46,154 | |||
| Indirects (30%) | 13,846 | |||
| BUDGET TOTAL | 60,000 | |||
Payment Terms: 100% due upon execution of contract
*Salary and benefit rate information is confidential. Mayo cannot share individual costs or rate information, as this would be against Mayo policy
' This budget only reflects the budget for year 3 which is being added with amendment 2.
Years 1-2 have already been negotiated.
NOTE: This is only a budget estimate, budget ay be adjusted due to the following changes: salaries, fees, procedures, etc.
Prepared by:
Xxxxxx Xxxxxx, Sponsored Projects Specialist
