AMENDMENT NO. 1 TO DEVELOPMENT
AND MANUFACTURING AGREEMENT
This Amendment
No. 1 to Development and Manufacturing Agreement (this
“Amendment”) is dated June 16, 2009 (the
“Amendment Date”), by and between Cornerstone
BioPharma, Inc. a Nevada corporation with its principal offices
located at 1255 Crescent Green Drive, Suite 250, Cary, NC
27518 (“Company”), NEOS Therapeutics, L.P., a
Texas limited partnership (“Manufacturer”) with its
principal offices located at 2940 N. Hwy. 360, Suite 100,
Grand Prairie, TX 75050 and Coating Place, Inc. , a
Wisconsin corporation (“Supplier”) with its principal
offices located at 200 Paoli Street, P.O. Box 930310, Verona, WI,
53593. Manufacturer, Supplier and Company sometimes are referred to
herein individually as a “Party” and collectively as
the “Parties.”
The effective date
of this Amendment (the “Effective Date”) shall be
[***].
WHEREAS, the
Parties previously entered into that certain Development and
Manufacturing Agreement dated as of February 27, 2008 (the
“Development Agreement”), as supplemented by an
Addendum dated as of June 19, 2008 (the
“Addendum”, together with the Development Agreement,
are referred herein to as the “Agreement”);
and
WHEREAS, the
Parties desire to amend certain terms of the Agreement by way of
this Amendment.
NOW, THEREFORE, in
consideration of the promises made herein and other good and
valuable consideration, the receipt and sufficiency of all of which
are hereby acknowledged, the Parties, intending to be legally
bound, agree as follows:
1. All
capitalized terms used in this Amendment and not otherwise defined
herein shall have the meanings given to them in the
Agreement.
2. The
following Definitions are hereby added to Section 1 of the
Agreement:
“Billable
Rate” means the rate at which work is billed and is less than
or equal to [***] per hour unless mutually agreed upon in writing
by the Parties in advance of work performed.
“Gross
Revenues” means the gross amounts invoiced by Company and its
affiliates and/or sublicensees on sales of the Product. Transfers
of Product among Company and its affiliates and/or sublicensees for
the purpose of subsequent resale to third parties will not generate
gross revenues with respect to such transfers but the gross amounts
invoiced in connection with the subsequent resale of the Product to
third parties will be included in the calculation of Gross
Revenues.
“Net
Sales” means the Company’s Gross Revenues less
customary reductions, including but not limited to the following:
discounts, launch
|
|
|
|
[***]
|
|
Confidential
portions of the exhibit have been omitted and filed separately with
the Securities and Exchange Commission.
|
or stocking
discounts, returns, rebates, chargebacks, transportation and
insurance expenses, and tariffs, duties, excises and sales taxes
imposed upon and paid directly with respect to such sales, all
calculated in accordance with GAAP.
3. The
Definition in Section 1

|