Amendment to Section 6.1. Section 6.1(e) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Amendment to Section 6.1. Section 6.1 of the Credit Agreement is amended by replacing paragraph (b) in its entirety with the following:
Amendment to Section 6.1. Section 6.1 of the Agreement is hereby amended by:
Amendment to Section 6.1. Section 6.1 of the Credit Agreement is hereby amended by deleting clause (n) thereof in its entirety and inserting in lieu thereof a new paragraph (n) as follows:
Amendment to Section 6.1. Section 6.1 of the JOA is hereby deleted in its entirety, and replaced with following Section 6.1:
Amendment to Section 6.1. Section 6.1 of the Agreement is deleted in its entirety and replaced by the following: DT represents and warrants that it has the right and authority to grant the license granted in Section 2, excluding the Licensed Products 1.11 (B) and Licensed Services 1.12 (B) and (C); provided, however, DT will undertake a review of its right and authority to grant a license under Section 2 with respect to the foregoing listed exclusions with respect to the Licensed Products and Licensed Services and within 90 days of the Amendment Effective Date make such representations and warranties under Section 2 to the extent DT, acting reasonably, has such right and authority. With respect to the Trademarks listed in Annex 1.1 and Domains, but excluding the Licensed Products 1.11 (B) and Licensed Services 1.12 (B) and (C), DT represents and warrants that Licensee’s use of such Trademarks and Domains do not and will not infringe, violate or misappropriate and third party intellectual property rights under the condition that such use is in accordance with the terms of this Agreement and the Licensee permits DT to take over the Licensee’s defense of such claim as provided in Section 13.1; provided, however, DT will undertake a review of Licensee’s use of the Trademarks and Domains for the foregoing listed excluded Licensed Products and Licensed Services and within 90 days of the Amendment Effective Date make the forgoing representations and warranties under Section 2 to the Extent DT can, acting reasonably, make such representations and warranties.
Amendment to Section 6.1. Section 6.1 of the Employment Agreement is hereby amended and replaced in its entirety as follows: Commencing on December 1, 2011, Executive’s base salary shall be at a rate of $2800 per month. Commencing on the Company’s first regular payroll date following the consummation of an Initial Financing (as defined below), Executive’s base salary will be increased to 60% of Executive’s base salary in effect as of November 30, 2011. Commencing on the Company’s first regular payroll date following the consummation of a Qualified Financing (as defined below), Executive’s base salary will be increase to 100% of Executive’s base salary in effect as of November 30, 2011. These payments collectively will be referred to herein as the “Base Salary.” The Base Salary will be subject to review and adjustment from time to time by the Company in its sole discretion and will be payable subject to standard federal and state payroll withholding requirements in accordance with Company’s standard payroll practices. For purposes of this Agreement, “Initial Financing” means the Company’s receipt, in one or more equity financings and/or strategic transactions between December 1, 2011 and December 31, 2011, of aggregate gross proceeds of at least $500,000. For purposes of this Agreement, “Qualified Financing” means the Company’s receipt, in one or more equity financings and/or strategic transactions subsequent to December 1, 2011, of aggregate capital that the Board determines is sufficient to conduct a Phase 2b or Phase 3 clinical trial of RGN-259.
Amendment to Section 6.1. Section 6.1 (Term of the Agreement) is deleted and replaced with the following:
Amendment to Section 6.1. Section 6.1 of the Loan Agreement is amended by adding after clause (viii) the following clause:
Amendment to Section 6.1. (a) Section 6.1(a) is hereby amended so that it shall read in its entirety as follows:
