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Exhibit 10.5

CHANGE IN TERMS AGREEMENT

Principal
$700,000.00
Loan Date
06-09-2012
Maturity
06-09-2013
Loan No.
930610000
Call/Coll
Account
Officer
RK
Initials
/s/
References in the boxes above are for Lender’s Use only and do not limit the
applicability of this document to any particular loan or item.
Any Item above containing “***” has been omitted due to text length limitations.

Borrower:
Amexdrug Corporation, Allied Med, Inc.; Dermagen, Inc.; Royal Health Care, Inc.;
andBiorx
Lender:
National Bank of California
 
Pharmaceuticals, Inc.
 
Corporate Banking Department  
7251 Condor Street
  12121 Wilshire Boulevard  
Commerce, CA 90040
  14th Floor       Brentwood, CA 90025

 

 Principal Amount: $700,000.00   Date of Agreement: June 9, 2012

                                                             

DESCRIPTION OF EXISTING INDEBTEDNESS:  The Promissory Note dated June 23, 2008
in the principal amount of $150,000.00 and Business Loan Agreement (Asset Based)
dated June 9, 2011 and subsequent Change in Terms Agreements dated March 3,
2009, June 9, 2009, June 9, 2010, June 9, 2011 and December 12, 2011, with an
outstanding principal balance of $309,806.94 as of July 30, 2012.

DESCRIPTION OF CHANGE IN TERMS:  The Maturity of the Note is hereby extended
from June 9, 2012 to June 9, 2013.

The percentage points over the index are hereby decreased from 2.500% to 2.250%.

The interest rate floor in the Note is hereby decreased from 6.000% to 5.500%.

The paragraph entitled “Tangible Net Worth Requirements” in the Business Loan
Agreement (Asset Based) is hereby amended as follows:

Tangible Net Worth Requirements.  Other Net Worth requirements are as
follows:  Borrower shall remain profitable and increase Net Worth at each Fiscal
Year End.

CONTINUING VALIDITY.  Except as expressly changed by this Agreement, the terms
of the original obligation or obligations, including all agreements evidenced or
securing the obligation(s), remain unchanged and in full force and
effect.  Consent by Lender to this Agreement does not waive Lender’s right to
strict performance of the obligation(s) as changed, nor obligate Lender to make
any future change in terms.  Nothing in this Agreement will constitute a
satisfaction of the obligation(s).  It is the intention of Lender to retain as
liable parties all makers or endorsers of the original obligation(s), including
accommodation parties, unless a party is expressly released by Lender in
writing.  Any maker or endorser, including accommodation makers, will not be
released by virtue of this Agreement.  If any person who signed the original
obligation does not sign this Agreement below, then all persons signing below
acknowledge that this Agreement is given conditionally, based on the
representation to Lender that the non-signing party consents to the changes and
provisions of this Agreement or otherwise will not be released by it.  This
waiver applies not only to any initial extension, modification or release, but
also to all such subsequent actions.

PRIOR TO SIGNING THIS AGREEMENT, BORROWERS READ AND UNDERSTAND ALL PROVISIONS OF
THIS AGREEMENT.  BORROWERS AGREE TO THE TERMS OF THE AGREEMENT.

AMEXDRUG CORPORATION

By:__/s/ Jack N. Amin                                          
      Jack N. Amin, President/ Secretary of Amexdrug Corporation

ALLIED MED INC.

By:__/s/ Jack N. Amin                                         
      Jack N. Amin, President/ Secretary of Allied Med Inc.

DERMAGEN, INC.

By:__/s/ Jack N. Amin                                          
      Jack N. Amin, President/ Secretary of Dermagen, Inc.

ROYAL HEALTH CARE, INC.

By:__/s/ Jack N. Amin                                           
      Jack N. Amin, President/ Secretary of Royal Health Care, Inc.

BIORX PHARMACEUTICALS, INC.

By:__/s/ Jack N. Amin                                           
      Jack N. Amin, President/ Secretary of  Biorx Pharmaceuticals, Inc.

See next page for additional signers
 
 
 
 

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   CHANGE IN TERMS AGREEMENT    Loan No. 930610000  (Continued)  Page 2

 
 

PRIOR TO SIGNING THIS AGREEMENT, GUARANTORS READ AND UNDERSTAND ALL PROVISIONS
OF THIS AGREEMENT.  GUARANTORS AGREE TO THE TERMS OF THE AGREEMENT.

GUARANTORS:

x__/s/ Jack N. Amin              
  Jack N. Amin

x__/s/ Nora Y Amin                                 
  Nora Y Amin

LASER PRO LENDING VER. 5.58.20.001 Copr. Harland Financial Solutions, Inc. 1997,
2011.  All rights reserved.
 

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