EXHIBIT 10.7
AMENDMENT TO CONSULTING AGREEMENT
Effective March 12, 2001 (the "Effective Date"), Xxxxxx-Xxxx
Pharmaceuticals, Inc., a Delaware corporation (the "Company"), Xxxxxxx X. Xxxxxx
("Xxxxxx") and JacMar/Viking, L.L.C., a Delaware limited liability company
("Consultant"), agree as follows:
RECITALS
WHEREAS, the Company, Xxxxxx and Consultant are parties to that certain
Consulting Agreement made effective March 8, 1999 (the "Agreement"); and
WHEREAS, the parties desire to amend certain provisions of the Agreement. NOW
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties agree to amend and hereby do amend the
Agreement as follows:
AMENDMENT
l. Each defined term used herein shall have the same meaning as set forth
in the Agreement.
2. Section 1.3 is amended to read in its entirety:
"1.3 Term. Unless sooner terminated as provided in Section 1.5 hereof,
this Agreement has become effective as of the date set forth above and
shall continue in force and effect until March 12, 2003."
3. Subsection 1.5(b) is amended to read in its entirety:
"(b) Termination by Company or Consultant. In the event that, during
the term hereof, the Company or Consultant terminates this Agreement,
for any reason or for no reason, or Xxxxxx or Consultant shall refuse
to perform the services required hereunder, then, in such event, this
Agreement shall automatically be terminated and Consultant shall have
the right to receive any unpaid compensation or reimbursements to the
date of termination, but no other compensation."
4. All other provisions of the Agreement shall remain unchanged and in
full force and effect.
IN WITNESS WHEREOF, the parties have signed this Amendment or
caused an authorized officer to sign this Amendment to be effective on the
Effective Date.
XXXXXX-XXXX PHARMACEUTICALS, INC.
By: /s/ Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx X. Xxxxxx
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Title: Chairman & CEO
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JACMAR/VIKING L.L.C.
By: The JacMar Companies,
A California Corporation
Its: Managing Member
By: /s/ Xxxxx X. Xxx Xxxxx
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Name: Xxxxx X. Xxx Xxxxx
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Title: President of the Managing Member
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