Amendment to Cross-Licensing Agreement between Masimo Laboratories and Masimo Corporation

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Summary

Masimo Laboratories and Masimo Corporation have amended their original Cross-Licensing Agreement to extend the option period by one year. Under this amendment, Masimo Corporation agrees to fund up to $2,500,000 for research and development by Masimo Laboratories, specifically related to noninvasive blood glucose measurement, over a period of up to four years. Masimo Laboratories will request reimbursement for research costs no more than once a month, and Masimo Corporation must pay within 30 days. The amendment also notes that there is currently no proof of concept for glucose and hemoglobin measurements.

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EX-10.11 17 a60301ex10-11.txt EXHIBIT 10.11 1 EXHIBIT 10.11 AMENDMENT TO CROSS-LICENSING AGREEMENT This is an Amendment to the Cross-Licensing Agreement between Masimo Laboratories and Masimo Corporation, dated May 2, 1998 (The Original Agreement). WHEREAS, Masimo Laboratories and Masimo Corporation desire to extend the option period in the Original Agreement by one year. NOW, THEREFORE, For good and valuable consideration, the receipt and sufficiency of which are acknowledged by the Parties, the original Agreement is amended as follows: SECTION 4.2 IS AMENDED AS FOLLOWS: Option Fee. MASIMO agrees to fund the research and development conducted by LABS related to, among other things, noninvasive blood glucose measurement, for a period of up to four (4) years following the effective date of this Agreement, and in an amount of two million five hundred thousand dollars ($2,500,000). LABS will request reimbursement for such research costs no more often than monthly, and MASIMO shall reimburse LABS for such research within 30 days following receipt of such request for reimbursement. MASIMO understands that LABS has no proof of concept for glucose and total hemoglobin measurements. MASIMO CORPORATION MASIMO LABORATORIES, By /s/ JOE E. KIANI By /s/ BRAD LANGDALE --------------------- ---------------------- Joe E. Kiani Brad Langdale President and CEO Executive Vice President and Secretary Dated: 3-20-00 Dated: 3/20/00 ----------------- ----------------