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EXHIBIT 10.120
McManus & Company, Inc.
23811 Inverness Place
Laguna Niguel, California 92677
(949) 481-9820 Fax: (949) 481-9829
June 16, 2005
Richard Burgoon, Jr.
Chief Executive Officer
Aeolus Pharmaceuticals, Inc.
79 T. W. Alexander Drive
4401 Research Commons, Suite 200
Research Triangle Park, NC 22709
Dear Rick:
This will confirm the terms of our mutual understanding and agreement (“Agreement”) in connection with the efforts of McManus & Company, Inc. (“M&C”) to provide consulting services to Aeolus Pharmaceuticals, Inc. or its affiliates, sister companies or principals (collectively the “Company” or “Aeolus”) as follows:
1. Appointment.
The Company hereby authorizes M&C to provide the Company services in connection with the outsourcing of the accounting, finance and administration functions. These services shall include but are not limited to:
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Accounts payable/accounts receivable supervision |
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Cash management |
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Purchasing management |
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Budgeting |
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Audit coordination, facilitation and administration |
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Human resources administration |
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Insurance administration |
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Contract administration |
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Shareholder services |
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Accounting |
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Financial statement preparation |
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Lease administration |
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Patent coordination |
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Legal coordination |
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Board of directors facilitation/minutes, and |
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Other corporate activities |
