Second Amendment to Option Agreement between Mayo Foundation for Medical Education and Research and Accentia Biopharmaceuticals, Inc.

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Summary

This amendment extends the term of an existing option agreement between Mayo Foundation for Medical Education and Research and Accentia Biopharmaceuticals, Inc. until December 6, 2008. Accentia agrees to pay Mayo $125,000 within ten days of the amendment's effective date as consideration for the extension. All other terms of the original agreement remain unchanged.

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EX-10.1 2 dex101.htm AMENDMENT TO OPTION AGREEMENT Amendment to Option Agreement

SECOND AMENDMENT

This Second Amendment (“Second Amendment”) to Option Agreement between Mayo Foundation for Medical Education and Research (“Mayo”) and Accentia Biopharmaceuticals, Inc. (“Accentia”) dated December 6, 2005 (the “Option Agreement”) is entered into effective May 9, 2007 (“Effective Date”).

WHEREAS, Mayo and Accentia agreed to extend the original Term for the option through December 9, 2007;

WHEREAS, Mayo and Accentia now wish to extend the Option through December 6, 2008;

NOW THEREFORE, the parties agree as follows:

 

1. Section 2.3 is amended to extend the Term to expire on December 6, 2008.

 

2. Accentia shall pay Mayo one hundred twenty five thousand dollars ($125,000) due within ten (10) days from Effective Date in consideration of this extension of the Term.

 

3. All other provisions of the Agreement shall remain in full force and effect.

 

MAYO FOUNDATION FOR MEDICAL

EDUCATION AND RESEARCH:

    

ACCENTIA

BIOPHARMACEUTICALS, INC.

By:   /s/ Steven P. VanNurden     By:   /s/ Francis E. O’Donnell, Jr.
Name:   Steven P. VanNurden     Name:   Francis E. O’Donnell, Jr.
M.D.    
Its:   Assistant Treasurer     By:   Chairman & CEO
Date:   May 11, 2007     Date:   May 10, 2007