BIOTIME, INC.
935 Pardee Street
Berkeley, CA 94710
Tel: 510-845-9535 o Fax: 510-845-7914
July 29, 1999
Sheldon M. Wecker, Ph.D., Director
Hospital Products Division
Abbott Laboratories, D-977, AP30
200 Abbott Park Road
Abbott Park, IL 60064-3537
Dear Mr. Wecker:
This is to confirm in writing a modification of Article 8 of our
Exclusive License Agreement, dated April 23, 1997 (the "Agreement"), as follows.
The caption, first sentence and table portion of Article 8(a) of the agreement
is hereby deleted and replaced with the following:
(a) Minimum Amounts. Abbott agrees to the establishment of the
following minimum Product sales targets in the Territory for each twelve month
period, commencing on and after October 1, 2000, subject to Abbott's option not
to market the Product as provided in 8(b) below.
[Confidential Information has been omitted and filed separately with the
Securities and Exchange Commission]
All other terms and conditions of the Agreement remain in full force
and effect. If this modification is acceptable, each party shall so signify by
having an authorized officer counter sign this letter in the place provided
below. Thank you.
Very truly yours,
/s/Ronald S. Barkin
--------------------
President and COO
ABBOTT LABORATORIES
July 29, 1999
Page 2
ACCEPTED AND AGREED:
Abbott Laboratories BioTime, Inc.
By: /s/Richard A. Gonzalez By: /s/Ronald S. Barkin
----------------------------- -------------------------
Title: President HPD Title: President
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D
ate: August 3, 1999 Date: July 29, 1999