AMENDMENT TO DISTRIBUTION AGREEMENT Dated February 7, 2002
EXHIBIT
10.3
AMENDMENT
TO
Dated
February 7, 2002
This
Amendment No. 1
is made
and entered into this 7th
day of
February, 2002, between Medi-Hut
Co., Inc.
(“Medi”
or “DISTRIBUTOR”) and Syntho
Pharmaceuticals, Inc.,
a New
York corporation (“Syntho” or “MAKER”).
RECITALS
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A.
|
Medi
and Syntho executed and delivered a Distribution Agreement dated
as of
November 20, 2001 (the “Agreement”) pursuant to which Medi agreed to
exclusively distribute Subject Technology (as defined in paragraph
1.1 of
the Agreement) and Syntho agreed to manufacture Subject
Technology.
|
|
B.
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The
Parties desire to amend the Agreement in the particulars set forth
in
paragraph 4.1 of the Agreement.
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NOW,
THEREFORE,
in
consideration of the mutual covenants herein contained, and for other good
and
valuable consideration, the receipt and sufficiency whereof are hereby
acknowledged, the parties covenant and agree to amend paragraph 4.1 of the
Agreement as follows:
“4.1
As
consideration for the rights conveyed by the MAKER under this Agreement,
DISTRIBUTOR shall pay to MAKER a fee of One Million Nine Hundred Thousand
Dollars ($1,900,000).”
The
terms
and conditions of this Amendment shall be deemed to modify and supercede the
Agreement and in the event of any conflict or inconsistency between the terms
of
this Amendment and the terms of the agreement, the terms of this Amendment
shall
control. Unless otherwise modified, the remaining terms of the Agreement shall
remain in full force and effect.
IN
WITNESS WHEREOF,
the
parties have executed this Amendment on the date set forth above.
| MEDI-HUT CO., INC. | ||
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| Date: February 7, 2002 | By: | /s/ Xxxxxx X. Xxxxxxxxx |
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| Xxxxxx X. Xxxxxxxxx, President | ||
| SYNTHO PHARMACEUTICALS, INC. | ||
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| Date: February 7, 2002 | By: | /s/ Xxxxxxxx Xxxxx |
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| Xxxxxxxx Xxxxx, President | ||
