Addendum to Private Label Manufacturing and Supply Agreement between Abaxis and Diatron (2006)

Summary

This addendum, dated September 21, 2006, modifies the existing Private Label Manufacturing and Supply Agreement between Abaxis and Diatron. It sets new minimum order quantities, pricing, delivery schedules, and payment terms for products supplied by Diatron to Abaxis from October 1, 2006, to September 30, 2007. The addendum also specifies discounts for early payment and clarifies that the previous minimum purchase commitments in the original agreement are suspended during this period. Both companies have signed to confirm their agreement to these updated terms.

EX-10.22 2 ab7821ex1022.txt EXHIBIT 10.22 EXHIBIT 10.22 CONFIDENTIAL TREATMENT REQUESTED - EDITED COPY - -------------------------------------------------------------------------------- *** CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS [****]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. - -------------------------------------------------------------------------------- ADDENDUM TO PRIVATE LABEL MANUFACTURING AND SUPPLY AGREEMENT Date: Sep. 21, 2006 Description: Addendum to the Private Label Manufacturing And Supply Agreement (11/13/03) Items: (For details, please refer to the attached Meeting Minutes: Discussion Between Abaxis and Diatron on Cooperation Issues Meeting Minutes on September 15, 2006 and Agreement Details Finalized on September 21, 2006) 1. Abaxis commits for minimum order quantity: [****] units of [****] per quarter, [****] per year starting from October 1, 2006 to Sep. 30, 2007. 2. The minimum quantity of [****] units includes max. [****] demonstration units of [****] per quarter. o The unit price of [****]: [****] ex works Budapest. o The unit price for demo units [****]: [****] ex works Budapest. 3. Delivery: o Order for Q4 2006: min. [****] units (including [****] demonstration units) by December 31, 2006, the balance of [****] units by March 31, 2007 in addition to the order for Q1 2007. o Orders for Q1-Q3 2007: min. [****] units by the end of each month, a total of [****] units by the end of each quarter. o Partial shipments will be done on pallets [****] units each, min. [****] pallets per shipment. 4. Payment terms: o [****] down payment for [****] units at unit price of [****] will be transferred to Diatron by Oct. 1, 2006. o Wire transferring net 30 days. o [****] discount for amount paid within 14 days from invoice date and [****] discount for amount paid upon presentation of the invoice. o A total of 25% of the down payment [****] will be deducted by Abaxis from the actual invoice amount at the beginning of each quarter starting from January 1, 2007 and ending on Oct. 1, 2007. Note: The SCHEDULE B: MIMINUM PURCHASE COMMITMENTS in the Private Label Manufacturing And Supply Agreement (11/13/03) is invalid during the effective period and the execution of this addendum. Diatron /s/ Alex Walker 10/12/06 - ---------------- --------------------- -------------- Company Signature Date Abaxis /s/ Clinton Severson 10/11/06 - ---------------- --------------------- -------------- Company Signature Date