EXHIBIT 10.9
September 19, 2003
Xx. Xxxxxx X. Xxxxxxxxx
President and CEO
CytRx Corporation
00000 Xxx Xxxxxxx Xxxx.
Suite 650
Los Angeles, CA 90049
Dear Xxxxx:
This letter will confirm our agreement that, notwithstanding what is otherwise
provided for in the engagement agreement dated May 16, 2003 by and between
Xxxxxxxx Capital Corp. and CytRx Corporation, that the below shall constitute
Xxxxxxxx'x fees in full with respect to the placement of $8,695,000 of CytRx's
common stock on September 16, 2003.
Cash - $687,992.90
Warrants - 427,203 with a ten year life and an exercise price of $2.10
Agreed and acknowledge:
CytRx Corporation Xxxxxxxx Capital Corp.
By: /s/ Xxxxxx X. Xxxxxxxxx By: /s/ Xxx Xxxxxxxxxx
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Xxxxxx X. Xxxxxxxxx Xxx Xxxxxxxxxx
Date: 9/19/03 Date: 9/19/03
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cc: Xxxxx Xxxxxxxxx
Xxxxxxxxx Xxxxxxxx
Xxxxxx Xxxxxxxx
