FIFTH AMENDMENT
MGH Agt. No. 2006A20842
This
is a Fifth Amendment to the License Agreement between and The
General Hospital Corporation, a not-for-profit corporation doing
business as Massachusetts General Hospital, having a principal
place of business at Fruit Street, Boston, Massachusetts 02114
(“General”) and Palomar Medical Technologies, Inc., a
Delaware corporation, having a principal place of business at 82
Cambridge Street, Burlington, Massachusetts 01803
(“Palomar”) (collectively, the “Parties”),
dated August 18, 1995 (the “License
Agreement”).
WHEREAS,
Paragraph 5.1(b)(ii) of the License Agreement provides that Palomar
and General are to negotiate in good faith a commercially
reasonable royalty to be paid by Palomar to General for Products
sold for hair removal as well as other uses;
WHEREAS,
Palomar has developed the NeoLux Pulsed-Light System and associated
hand pieces, EsteLux Pulsed-Light System and associated hand
pieces, the MediLux Pulsed-Light System and associated hand pieces
and the StarLux Pulsed-Light and Laser System and associated hand
pieces for hair removal and other applications, and the Parties
have agreed to commercially reasonable royalty rates to be paid by
Palomar to General on Palomar’s sales of NeoLux, EsteLux,
MediLux and StarLux systems and the associated hand pieces under
Paragraph 5.1(b)(ii) of the License Agreement;
For
good and valuable consideration General and Palomar hereby agree to
amend the License Agreement as provided herein, effective March 1,
2006 (“Amendment Effective Date”). From and after the
Amendment Effective Date, all references in the License Agreement
shall be deemed to be references to such License Agreement as
amended hereby.
Paragraph 5. ROYALTIES; LICENSE
FEES
In Paragraph 5.
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