FINANCIAL STATEMENTS

EX-10.7 11 p66877exv10w7.txt EX-10.7 EXHIBIT 10.7 * CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. AMENDMENT EIGHT TO DEVELOPMENT AGREEMENT TESTING OF SOLVENT LEVELS IN PLASMA BAGS This Amendment Eight made as of February 13, 2002 ("Effective Date") between SRI International, a California, non-profit and public benefit corporation, having a place of business located at 333 Ravenswood Avenue, Menlo Park, CA 94025 (hereinafter "SRI") and Lipid Sciences Incorporated, an Arizona corporation, having a place of business located at 7068 Koll Center Parkway, Suite 401, Pleasanton, CA 94566 (hereinafter "LSI"). WHEREAS, SRI and LSI have entered into a development agreement having an effective date of October 6, 2000 and an Amendment One thereto dated March 8, 2001 and Amendment Two dated March 28, 2001; Amendment Three dated May 12, 2001; Amendment Four dated May 13, 2001, Amendment Five dated May 13, 2001, Amendment Six dated December 5, 2001 and Amendment Seven dated October 6, 2000, (hereinafter individually and collectively "Development Agreement") and which the parties hereby amend; and WHEREAS, the parties intend that this Amendment Eight provide for the details of additional work related to the testing needed to incubate saline in various plasma storage bags with varying levels of solvent, which is outside of the scope of Phase II Development Plan of the Development Agreement. NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, SRI and LSI agree as follows: 1. For consistency and unless otherwise defined herein all initially capitalized terms shall have the meaning set forth in the Development Agreement. 2. The scope of work and project cost, which the parties agree are outside of the scope of Phase 11 Development Plan of the Development Agreement are attached hereto as Exhibit A. 3. Unless expressly amended by this Amendment Seven, all other terms and conditions of the Development Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date last subscribed below. SRI: LSI: SRI International Lipid Sciences, Incorporated By: /s/ V. Rene Harmount By: /s/ Phil Radlick -------------------------- --------------------- V. Rene Harmount Phil Radlick, Ph.D. Group Manager, Contracts President & Chief Executive Officer EXHIBIT A [ * ] 2