Modification Agreement to Development and Marketing Agreement between BioCheck, Inc. and AngioGenex, Inc.
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Summary
BioCheck, Inc. and AngioGenex, Inc. have agreed to modify their existing Development and Marketing Agreement, originally effective December 15, 2003. This modification, dated July 21, 2008, removes the section requiring BioCheck to pay a minimum annual licensing fee to AngioGenex. As a result, BioCheck is no longer obligated to pay any past, current, or future minimum annual royalties under the removed section. The agreement is executed by authorized representatives of both companies.
EX-10.1 2 v120765_ex10-1.htm
MODIFICATION TO DEVELOPMENT AND MARKETING AGREEMENT
THIS MODIFICATIONAGREEMENT dated July 21, 2008 applies to the DEVELOPMENT AND MARKETING AGREEMENT (the "Agreement') made and entered into and effective as of December 15, 2003 by and between BioCheck, Inc., a California corporation ('BioCheck") and AngioGenex, Inc., a New York corporation ("Angio').
Modification
Pursuant to Section 14 (H) of the Agreement, the Parties agree to modify the Agreement to remove Section 3 (C) entitled "Minimum Annual Licensing Fee.” As a result of this modification BioCheck shall have no past, current, or future contractual obligation to pay Angio any minimum annual royalties called for under Section 3 ( C) of the Agreement.
IN WITNESS WHERE OF, duly authorized representatives of each of the Parties has executed and delivered this Modification Agreement as of the Effective Date.
| BIOCHECK, INC. | ANGIOGENEX , INC. | ||||
| By: | By: | ||||
| Dr. John Chen, President | Bill Garland, Chief Operating Officer | ||||
