First Addendum to Administrative Services Agreement between A. L. Industrier ASA and Alpharma AS
This addendum extends the original Administrative Services Agreement between A. L. Industrier ASA and Alpharma AS for an additional six months, from January 1, 2006, to June 30, 2006. During this period, Alpharma will continue providing services as previously agreed, and A. L. Industrier will pay Alpharma a fixed fee of NOK 200,000, paid in six equal monthly installments. All other terms of the original agreement remain unchanged.
FIRST ADDENDUM
to | Administrative Services Agreement 2005 ("Agreement") |
dated | 29 November 2004 |
between | A. L. Industrier ASA, Harbitzalleen, 3, 0275 Oslo, Norway ("A. L. Industrier") |
and | ALPHARMA AS, Harbitzalleen 3, 0275 Oslo, Norway ("Alpharma") |
WHEREAS the terms used in the First Addendum shall have the same meaning as in the Agreement unless otherwise indicated herein;
WHERAS the Agreement expires on 31 December 2005 but the parties have decided that Alpharma will continue to provide the services according to the Agreement for an additional period of 6 months (1 January 2006 to 30 June 2006) and, thus, to extend the term of the Agreement accordingly;
NOW, THEREFORE, in consideration of the mutual covenants and agreement contained herein and intending to be legally bound, the Parties hereto agree as follows:
1) Clause 4.1 of the Agreement is amended as follows: The Agreement shall continue in force for additional 6 months, i.e. until 30 June 2006, after which it will automatically expire.
2) Clause 3.1 of the Agreement is amended as follows: A.L. Industrier shall pay to Alpharma an additional fixed fee of NOK 200,000, exclusive of VAT, for the Services rendered in the extended period 1 January 2006 - 30 June 2006 according to the Agreement. The fee will be paid in 6 equal monthly installments.
IN WITNESS WHEREOF, the duly authorized representatives of each Party have executed this Agreement as of the date above written.
Signed for and on behalf of | Signed for and on behalf of |
A. L. INDUSTRIER ASA: | Alpharma AS: |
/s/ Stein Aukner | /s/ Carl Aake Carlsson |
By: Stein Aukner | By: Carl-Aake Carlsson |
Title: Managing Director | Title: Managing Director |
Date: April 21, 2006 | Date: April 21, 2006 |