EXHIBIT 10.47
Interferon Sciences, Inc.
000 Xxxxxx Xxxxxx
Xxx Xxxxxxxxx, XX 00000
January 1, 1996
National Patent Development Corporation
0 Xxxx 00xx Xxxxxx
Xxxxx 0000
Xxx Xxxx, XX 00000
Gentlemen:
Interferon Sciences, Inc. ("ISI") and National Patent
Development Corporation ("NPDC") are party to a Management
Services Agreement dated January 1, 1981 (the "Agreement"). The
Agreement provides, among other things, that:
The following expenses relating to shared services
at facilities jointly occupied by ISI and NPDC are
specifically to be borne by ISI which ISI shall
reimburse to NPDC at approximately NPDC's cost:
maintenance, shipping and receiving, purchasing,
secretarial work, information retrieval, telephone
service, computer service, postage, photo copy, office
supplies, office equipment rentals, and regulatory
compliance.
ISI and NPDC acknowledge and agree that commencing on the
date hereof, such services are to be provided by employees of ISI
rather than by employees of NPDC, and NPDC agrees to reimburse ISI
for such services at approximately ISI's cost.
Except as amended hereby, the Agreement shall be unamended
and in full force and effect.
Very truly yours,
Interferon Sciences, Inc.
By: /s/ Xxxxxxxx X. Xxxxxx
Agreed and acknowledged
National Patent Development Corporation
By: /s/ Xxxxx X. Xxxxxxxxx
