FIRST AMENDMENT
This First Amendment pertains to the License Agreement "Cardiovascular
System Identification" effective September 29, 1993, by and between the
MASSACHUSETTS INSTITUTE OF TECHNOLOGY and CAMBRIDGE HEART, INC. (hereinafter
LICENSEE).
WHEREAS, commercializing products based on the patents licensed by M.I.T.
to LICENSEE in the above referenced License Agreement require additional
non-licensed technology, in particular a noninvasive blood pressure device; and
WHEREAS, such a device has not been commercially available from September,
1993 to March, 1998;
The parties hereby agree to modify the above referenced License Agreement
by deleting paragraphs 3.2(d) and 3.3 in their entirety and substituting
therefor the following:
3.2(d) LICENSEE and/or SUBLICENSEE shall have developed a working
commercial prototype of a LICENSED PRODUCT and, if needed for commercial
sale, shall have filed an application for premarket FDA approval before
seven (7) years after the EFFECTIVE DATE of this License Agreement.
3.3 LICENSEE and/or SUBLICENSEE shall make commercial sales of LICENSED
PRODUCTS or LICENSED PROCESSEE at least according to the following
schedule:
2000 $ 50,000
2001 $ 100,000
2002 $ 250,000
2003 and each year thereafter $ 500,000
WHEREAS, both LICENSEE and the M.I.T. Technology Licensing Office have
changed addresses, the parties agree to modify the above referenced License
Agreement by deleting Article 14 in its entirety, and substituting therefor the
following:
Any payment, notice, or other communication pursuant to this Agreement
shall be sufficiently made or given on the date of mailing if sent to such
party by certified first class mail, postage prepaid, addressed to it at
its address below or as it shall designate by written notice given to the
other party:
In the case of M.I.T.:
Director
Technology Licensing Office
Room NE25-230
Massachusetts Institute of Technology
00 Xxxxxxxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
In the case of LICENSEE:
President & C.E.O.
Cambridge Heart, Inc.
0 Xxx Xxxx Xxxxx
Xxxxxxx, XX 00000
All other terms and conditions of the above referenced License Agreement
remain unchanged and in full force and effect.
MASSACHUSETTS INSTITUTE OF CAMBRIDGE HEART, INC.
TECHNOLOGY
By: /s/ Xxxx Xxxxxxxx By: /s/ Xxxxxx X. Xxxxxxx
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Name: Xxxx Xxxxxxxx Name: Xxxxxx X. Xxxxxxx
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Title: Assistant Director Title: Vice President, Finance/
Technology Licensing Office Administration & CFO
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Date: May 21, 1998 Date: March 30, 1998
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