EXHIBIT 10.17
AMENDEMENT 2 TO SUPPLY CONTRACT BETWEEN
INTERMEDICS INC. AND THE COMPANY
DATED OCTOBER 20, 1995
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AMENDMENT 2 TO SUPPLY CONTRACT
This Amendment is entered into as of October 20, 1995, by and between
Intermedics Inc. ("ITM"), a Delaware corporation, and Cardiac Control Systems,
Inc. ("CCS"), having a principal place of business at 0 Xxxxxxxx Xxxxxxxxx, Xxxx
Xxxxx, Xxxxxxx 00000.
WHEREAS ITM and CCS are parties to an amended and restated supply
contract dated April 2, 1993 (the "Supply Contract") and
WHEREAS ITM and CCS are also parties to an amended and restated license
agreement also dated April 2, 1993 (the "License Agreement") and
WHEREAS, under the terms of a promissory note and security agreement of
even date herewith (the "Note"), ITM has agreed to loan CCS $1.0 million to
assist CCS in its refinancing efforts and
WHEREAS the parties now desire to amend the terms of the Supply Contract
to conform it to certain provisions of the Note,
THEREFORE, in consideration of the mutual promises set forth in this
Amendment and other good and valuable consideration, the parties agree:
1. A new paragraph is added to the end of section 2.1 of the Supply
Contract which reads:
Notwithstanding the foregoing, until the obligation under the
promissory note and security agreement dated October 20, 1995, is
satisfied, ITM may withhold $250 per packaged Lead from the applicable,
above-quoted prices for the first 4,000 packaged Leads ordered after
October 15, 1995. Thereafter, ITM may withhold $90 per packaged Lead
until CCS satisfies its obligations under the promissory note and
security agreement. Upon full satisfaction of the obligation under the
promissory note and security agreement, the two sentences immediately
preceding this sentence will be of no further effect.
2. The last two sentences of section 4.1 are deleted in their entirety.
Unless expressly modified by this Amendment, all other provisions in the
Supply Agreement will remain unchanged and in full force and effect.
Cardiac Control Systems, Inc. Intermedics Inc.
by: /s/ Xxxx X. Xxxxx by: /s/ Xxxx X. Xxxxxx
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Xxxx X. Xxxxx, President Xxxx X. Xxxxxx, President
