Letter Agreement, dated June 19, 2015, by and between XOMA (US) LLC and Novartis Vaccines and Diagnostics, Inc

 

James R. Neal

Vice President, Business Development

XOMA Corporation

2910 Seventh Street

Berkeley, California 94710

 

 

Dear Jim:

 

As you know, XOMA (US) LLC, a Delaware limited liability company (“XOMA”), and Novartis Vaccines and Diagnostics, Inc. (f/k/a Chiron Corporation), a Delaware corporation (together with its affiliates, “NVDI”), are parties to a certain Secured Note Agreement, dated May 26, 2005 (as amended) (the “Note”) and an Amended and Restated Research, Development and Commercialization Agreement, dated July 1, 2008 (the “Amended Agreement”).

 

Currently, NVDI and XOMA are engaged in discussions concerning a possible restructuring of the debt represented by the Note, and the obligations under the Amended Agreement.  These discussions include, among other things, consideration of an amendment to the maturity date of the Note, currently fixed at June 21, 2015.

 

In light of the parties’ discussions and the shared interests the parties have in negotiating a mutually agreeable restructuring of the Note and the Amended Agreement, NVDI agrees to, and hereby does, extend the maturity date of the Note to September 30, 2015.

 

Please confirm that the foregoing is in accordance with your understanding by acknowledging your agreement in the space provided below.

 

XOMA (US) LLC

 

/s/ James R. Neal

James R. Neal

Vice President, Business Development

 

 

---