January 3, 2001 Nastech Pharmaceutical Company Inc. 45 Davids Drive Hauppauge, New York 11788 Attn: Andrew Zinzi Waiver of Section 2.1(f)(ii) of Equity Line of Credit Agreement Dear Mr. Zinzi: Reference is made to the Equity Line of Credit Agreement,...Nastech Pharmaceutical Co Inc • January 12th, 2001 • Pharmaceutical preparations
Reference is made to the Equity Line of Credit Agreement, dated as of July 11, 2000 (the "Agreement"), between Castlebar Enterprises Limited ("Castlebar") and Nastech Pharmaceutical Company Inc. ("Nastech"). Pursuant to Section 2.1(f)(ii) of the Agreement, on each date of settlement of a put, Nastech is obligated to issue to Castlebar a warrant to purchase up to a number of shares of common stock of Nastech ("Common Stock") equal to 25% of the number of shares of Common Stock purchased by the Castlebar on such date (defined both in the Agreement and herein as "Short Term Warrants").
