EXHIBIT 10.22
[XXXX XXXX]
June 29, 2005
Xx. Xxxxxxx Xxxxx
Xxxxx Medical College of Cornell University
Senior Director of Grants & Contracts
0000 Xxxx Xxxxxx, Xxx 00
Xxx Xxxx, XX 00000
Re: Sponsored Research Agreement between Xxxx Xxxxxxxxxxxxxxx, Inc. and
Weill Medical College at Cornell University regarding cancer research
dated June 19, 2002 (the "Sponsored Research Agreement")
Dear Xxxxxxx:
As per our discussions with Xx. Xxxx Xxxxxx regarding the Sponsored Research
Agreement which is to expire on June 18, 2005, this letter shall serve as an
extension of the Sponsored Research Agreement in accordance with Section 3.2 of
the Sponsored Research Agreement and you and we hereby agree to extend the
Sponsored Research from June 18, 2005 through to September 30, 2005 (the
"Extended Term").
In addition, we hereby propose that the Sponsored Research Agreement be
continued for one additional year starting from October 1, 2005 thru September
30, 2006 (the "Continued Term," together with the Extended Term, the "Term") for
Two Hundred Thousand Dollars ($200,000) plus 25% ($50,000) for indirect costs
payable to Weill Medical College of Cornell University in accordance with the
following payment schedule:
October 1, 2005 $50,000
January 1, 2006 $50,000
April 1, 2006 $75,000
July 1, 2006 $75,000
Please see the attached Addendum A, which describes the scope of the work to be
done by Xx. Xxxx Xxxxxx during the Term.
Best regards,
Marc Pharmaceuticals, Inc.
Xxxxxx X. Xxxxx
CEO & President
Agreed and accepted:
Weill Medical College of Cornell University
By: ___________________________
Name:____________________________
Title:___________________________
