EXHIBIT 10.5

 

IVAX Diagnostics, Inc.

 

July 29, 2003

 

Mario Cossi

Via Stesicoro 148

00125 Roma

Italy

 

Re: Consulting Agreement II

 

Dear Mr. Cossi:

 

As you are aware, we are parties to a Consulting Agreement II, dated as of
September 1, 1999 (the “Agreement”), relating to certain consulting services
provided by you to IVAX Diagnostics, Inc. (“IVD”). Terms not defined herein
shall have the meanings ascribed to them in the Agreement.

 

The initial three-year term of the Agreement expired on August 31, 2002. As
previously discussed, both you and IVD desire to extend the Agreement, on the
same terms and conditions stated therein, for another three-year term,
commencing effective as of September 1, 2002 and ending on August 31, 2005.

 

This letter sets forth our mutual understanding and acknowledgement that,
notwithstanding any agreements, documents or discussions, whether written or
oral, to the contrary, the Agreement, as hereby extended, continues in full
force and effect as of September 1, 2002 and remains the legal, valid and
binding agreement of each of you and IVD. You and IVD both hereby ratify and
confirm, as of September 1, 2002, all of our respective obligations under the
Agreement, as hereby extended.

 

If the foregoing correctly sets forth our agreement, please sign this letter in
the space indicated below and return a signed copy to my attention.

 

Sincerely,

IVAX Diagnostics, Inc.

By:

 

/s/ Giorgio D’Urso

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Giorgio D’Urso,

   

President and Chief Executive Officer

 

Accepted and agreed to:

/s/ Mario Cossi

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Mario Cossi