Amendment to Assignment of Deposit Account between Maxim Pharmaceuticals, Inc. and Silicon Valley Bank
This amendment updates the terms of a previous agreement in which Maxim Pharmaceuticals, Inc. pledged a certificate of deposit as security for a loan made by Silicon Valley Bank to Dale A. Sander and Denise M. Sander. The amendment increases the required amount of the certificate of deposit to at least $1,800,000 to secure a loan now totaling $180,000. All other terms of the original pledge agreement remain unchanged. The amendment is effective as of July 23, 2002.
QuickLinks -- Click here to rapidly navigate through this document
Exhibit 10.6
AMENDMENT TO ASSIGNMNENT OF DEPOSIT ACCOUNT
This Amendment To Assignment of Deposit Account (this "Amendment") is made as of July 23, 2002 by and between Maxim Pharmaceuticals, Inc. ("Pledgor") and Silicon Valley Bank ("Lender").
RECITALS
A. Dale A. Sander and Denise M. Sander (individually and severally, "Borrower") has obtained credit from Bank in the original principal amount of $150,000.00 ("Loan"). The Loan has been increased to $180,000.00 pursuant to a Change and Terms Agreement dated July 23, 2002. As security for repayment of the Loan and for all indebtedness owing by Borrower to Lender, Pledgor has granted to Lender a security interest in the Certificate of Deposit Account Number XXXXXX3215, pursuant to the Assignment of Deposit Account agreement dated April 11, 2001 (the "Pledge Agreement").
B. Grantor and Lender desire to modify the Pledge Agreement, in accordance with the terms of this Amendment.
NOW THEREFORE, Borrower and Lender agree as follows:
1. The term Collateral is hereby amended in part to mean Certificate of Deposit Account Number XXXXXX3215 issued by Lender in an amount not less than $1,800,000.00 with respect to Borrower's Loan in the principal amount of $180,000.00.
2. Unless otherwise defined, all capitalized terms in this Amendment shall have the meanings assigned in the Pledge Agreement. Except as amended, the Pledge Agreement remains in full force and effect.
3. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument.
4. This Amendment amends certain terms of the Pledge Agreement. Except as amended hereby, the Pledge Agreement remains in full force and effect. This Amendment, together with the Pledge Agreement and any documents executed in connection with the Pledge Agreement, constitute the entire agreement of the parties with respect to the subject matter hereof, and supersede all prior agreements and negotiations.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above written.
| Pledgor: | Lender: | |||||
MAXIM PHARMACEUTICALS, INC. | SILICON VALLEY BANK | |||||
By: | /s/ LARRY G. STAMBAUGH | By: | /s/ DEE HOUSE | |||
Name: | Larry G. Stambaugh | Name: | Dee House | |||
Title: | President and CEO | Title: | Director of Private Banking | |||
QuickLinks
- Exhibit 10.6
