Becton, Dickinson and Company
Exhibit 10.23
Becton, Xxxxxxxxx and Company
0 Xxxxxx Xxxxx
Xxxxxxxx Xxxxx, Xxx Xxxxxx 00000
Xxxxxxxx Xxxxx, Xxx Xxxxxx 00000
November 20, 2023
Senior Vice President
E-mail: xxxx.xxxx@xxxxxxx.xxx
Dear Xx. Xxxx:
Reference is made to the Logistics Services Agreement, dated as of January 1, 2022 (the “LSA”), by and between Embecta Corp. (“Embecta”) and Xxxxxx, Xxxxxxxxx and Company (together with Xxxxxxx, the “Parties”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the LSA.
In consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties agree to the following:
1. LSA Extension. (i) The Term is extended until March 31, 2024, (ii) the monthly Administrative Fee for each of the Services under the LSA during the extension period from January 1, 2024 through March 31, 2024 (the “Interim Extension Period”) shall be equal to one and one quarter percent (1.25%) of New Revenue for such Service and (iii) each of the Factoring Fee and the Servicing Fee for each such Services during the Interim Extension Period shall be equal to one hundred twenty-five percent (125%) of the Factoring Fee or the Servicing Fee, respectively, for such Service during the term of the LSA prior to the Interim Extension Period.
2. Miscellaneous. Except as expressly set forth in this letter agreement, no amendment, alteration or modification of the LSA is otherwise made.
[Signature Page Follows]
IN WITNESS WHEREOF, each of the Parties has caused this letter agreement to be duly executed on its behalf by its officer thereunto duly authorized as of the day and year first above written.
BECTON, XXXXXXXXX AND COMPANY
By: /s/ Xxxxxxxxxxx XxxXxxxxxx
Name: Xxxxxxxxxxx XxxXxxxxxx
Title: EVP and Chief Financial Officer
By: /s/ Xxxx Xxxx
Name: Xxxx Xxxx
Title: SVP, General Counsel & Head of Business Development
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