AGREEMENT
made as of the 1st day of October, 1993, by and between MARTIN
K GELBARD, MD., 2601 W. Alameda Ave, Burbank, CA 91505,
hereinafter referred to as “Dr. Gelbard”, and
ADVANCE BIOFACTURES CORPORATION, 35 Wilbur Street, Lynbrook,
N.Y. 11563, hereinafter referred to as “the
Company”.
WHEREAS,
the Company desires to engages Dr. Gelbard as an independent
contractor and not as an employee to render the services and
grant the rights described below and Dr. Gelbard desires to
render such services and grant such rights, NOW, THEREFORE, it
is agreed:
1.
Services .
The services, to be rendered for an expected average of five hours
per month, are to assist in arranging for and supervising the
clinical testing and development of a pharmaceutical product based
on Collagenase ABC for the treatment of Peyronie’s Disease
(“Product”), and to exercise his best efforts to obtain
for the Company an approved NDA from the Food and Drug
Administration (“FDA”) and analogous approvals from
governmental agencies having jurisdiction outside the United States
(including the composition of such “expertises” as may
be required) for the marketing and sale of the
Product.
2.
Term :
The engagement shall be for a period of twelve months commencing on
the date hereof and continuing thereafter until terminated by
either party on not less than three months’ prior written
notice to the other party at the addresses stated above or at an
address chosen subsequent to the execution of this agreement and
duly communicated to the party giving notice.
3.
Consultations :
Dr. Gelbard shall be available to render the ser
