Tenth Amendment to Option Agreement between Advanced Inhalation Therapies Limited and Pulmonox Technologies Corporation
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Summary
Advanced Inhalation Therapies Limited and Pulmonox Technologies Corporation have agreed to amend their original Option Agreement dated August 31, 2015. This Tenth Amendment extends the period during which the option can be exercised by twelve months, allowing the option to be exercised within eighteen months from the original effective date. Both parties have signed the amendment, confirming their agreement to the new terms as of December 31, 2016.
EX-10.11 18 exhibit_10-11.htm EXHIBIT 10.11
Exhibit 10.11
TENTH AMENDMENT TO OPTION AGREEMENT
This amendment (“Tenth Amendment”) is being entered into by and between Advanced Inhalation Therapies Limited (“AIT”) and Pulmonox Technologies Corporation (“Pulmonox”), for the purpose of amending the Option Agreement originally entered by AIT and Pulmonox on 31st August 2015 (the “Option Agreement”).
For valid consideration, the sufficiency of which is being acknowledged by AIT and Pulmonox, it is agreed to extend the Option Period (Section 2.2 of the Option Agreement) by twelve (12) months, such that Section 2.2 of the Option Agreement shall be replaced by the following:
2.2 The Option shall be exercisable by a written notice given by the Company to Seller to that effect not later than within eighteen (18) months as of the Effective Date (the “Exercise Notice” and the “Option Period”, respectively).
IN WITNESS WHEREOF, the parties hereto have caused this Tenth Amendment to be executed by their duly authorized representatives as of the dates hereof.
| ADVANCED INHALATION THERAPIES LIMITED | PULMONOX TECHNOLOGIES CORPORATION |
| _______________________________________ (signature) | _______________________________________ (signature) |
| Name: ______________________________________ | Name: ______________________________________ |
| Title: ______________________________________ | Title: ______________________________________ |
| Date: December 31, 2016 ______________________________________ | Date: December 31, 2016 ______________________________________ |
