Document:

Exhibit 10.1

 

CONTRACT WORK AUTHORIZATION (Form 2)
RELEASE NO. 2

 

for

AGENCY PROCUREMENTS

Between

 

ACUSPHERE, INC. (“ACUSPHERE/OWNER”)

 

and

 

PARSONS COMMERCIAL TECHNOLOGY
INC. (“PARSONS”)

 

 

All work authorized by Acusphere and performed by Parsons in accordance
with this Contract Work Authorization shall be governed by the “Terms and
Conditions for Engineering, Procurement and Construction Management Services
between Acusphere, Inc. and Parsons Commercial Technology Group Inc.”,
(the EPCM), Effective date July 2, 2004.

 

 

CONTRACT WORK AUTHORIZATION NO. 2

(Form 2)

FOR

AGENCY PROCUREMENTS

 

THIS
Contract Work Authorization for the placement of agency procurements is
executed March 9, 2005 between ACUSPHERE, INC., with principal offices at
500 Arsenal Street, Watertown, Massachusetts 02472 (“Acusphere/Owner”) and
PARSONS COMMERCIAL TECHNOLOGY GROUP INC. (“PARSONS”), with principal offices
for this project located at 150 Federal Street, Boston, Massachusetts 02110.

 

This Contract Work Authorization, the scope of which
is defined below, is intended to cover agency procurements by Parsons for
Acusphere from July 6, 2004 through April 1, 2005.

 

It is understood and agreed that this Contract Work
Authorization for procurements (Form 2) shall only be used to cover the
actual approved cost of purchase orders and other forms of awards Parsons
places with outside vendors/contractors/ leasing companies, etc. as an Agent
for Acusphere.

 

The time charged by Parsons for agency procurement
services shall be authorized by a Contract Work Authorization form for “Engineering
and Construction Management Services” (Form 1).

 

It is also understood and agreed that the Contract
Work Authorization forms for “Engineering and Construction Management Services”
(Form 1) shall be used to cover the actual approved cost of subcontracts
placed with outside subcontractors on a non-agency basis by Parsons, as well as
the time charged by Parsons for its subcontracting activities.

 

IN
CONSIDERATION of the covenants hereinafter set forth, the parties hereto
mutually agree as follows:

 

ARTICLE I                                                                                     SCOPE OF SERVICES

 

1.1                                 Description of Services

 

Parsons shall, as an agent to Acusphere, procure
required equipment (hereinafter referred to as the “agency procurements”) in
connection with Owner’s aseptic pharmaceutical manufacturing facility located
at 890 East Street, Tewksbury, Massachusetts (the “Facilities”) as specifically
set forth in the document sent from Parsons to Acusphere on March 8, 2005
titled “Acusphere AI-700-301 Commercial Manufacturing Facility Comparison of Form 2
Commitments 1-Mar-05”.

 

 

ARTICLE II                                                                                 ESTIMATED COST OF AGENCY PROCUREMENTS

 

	
  Previous total estimated cost up through and
  including Contract Work Authorization (Form 2) Release Number 1

  	
   

  	
  $

  	
  3,928,787.44

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Estimated increase based on Contract Work
  Authorization (Form 2) Release Number 2

  	
   

  	
  $

  	
  690,359.00

  	
   

  
	
  Note: The amounts shown on Authorization No. 2
  for Agency Purchase Orders shall be paid by Acusphere to vendors directly and
  will not flow thru Parsons books. This amount includes Agency Purchase Orders
  issued, under prior purchase authorization, after July 6, 2004 but
  before the execution date of this Contract Work Authorization (Form 2)
  Release Number 2.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Revised total estimated cost up through this
  Contract Work Authorization (Form 2)

  Release Number 2

  	
   

  	
  $

  	
  4,619,146.44

  	
   

  

 

ARTICLE III                                                                             TERMS AND CONDITIONS

 

THE PARTIES ACKNOWLEDGE AND
AGREE THE TERMS AND CONDITIONS OF THIS AGREEMENT HAVE BEEN FREELY, FAIRLY AND
THOROUGHLY NEGOTIATED. FURTHER, THE PARTIES ACKNOWLEDGE AND AGREE SUCH TERMS
AND CONDITIONS, INCLUDING BUT NOT LIMITED TO THOSE RELATING TO WAIVERS,
ALLOCATIONS OF, RELEASES FROM, INDEMNITES AGAINST AND LIMITATIONS OF LIABILITY,
WHICH MAY REQUIRE CONSPICUOUS IDENTIFICATION, HAVE NOT BEEN SO IDENTIFIED
BY MUTUAL AGREEMENT AND THE PARTIES HAVE ACTUAL KNOWLEDGE OF THE INTENT AND
EFFECT OF SUCH TERMS AND CONDITIONS. EACH PARTY ACKNOWLEDGES THAT IN EXECUTING
THIS AGREEMENT IT RELIED SOLELY ON ITS OWN JUDGEMENT, BELIEF, AND KNOWLEDGE,
AND SUCH ADVICE AS IT MAY HAVE RECEIVED FROM ITS OWN COUNSEL, AND IT HAS
NOT BEEN INFLUENCED BY ANY REPRESENTATION OR STATEMENTS MADE BY ANY OTHER PARTY
OR SUCH OTHER PARTY’S COUNSEL. NO PROVISION IN THIS AGREEMENT IS TO BE
INTERPRETED FOR OR AGAINST ANY PARTY BECAUSE THAT PARTY OR ITS COUNSEL DRAFTED
SUCH PROVISION.

 

ARTICLE IV                                                                             SCHEDULE

 

It is estimated that the
agency procurements covered by this Contract Work Release shall be scheduled
for delivery as noted on the agency purchase orders and other forms of agency
agreements.

 

All other terms and
conditions for the Contract for Engineering, Procurement and Construction
Manager Services, as previously amended by Contract Work Authorization (Form 2)
Release Number 1 remain unchanged.

 

IN WITNESS WHEREOF, the
parties hereto have executed this Contract Work Authorization, document as of
the date and year first above written.

 

2

 

	
  ACUSPHERE, INC. (“ACUSPHERE”)

  	
  PARSONS COMMERCIAL
  TECHNOLOGY GROUP INC. (“PARSONS”)

  
	
   

  	
   

  
	
  By:

  	
  /s/ John F. Thero

  	
   

  	
  By:

  	
  /s/ Todd
  Williams, Jr.

  	
   

  
	
   

  	
  Senior Vice President

  	
   

  	
   

  	
  Deputy Division Manager

  	
   

  
	
  Title

  	
  Title

  	
   

  

 

3Exhibit 10.2

 

CONTRACT WORK AUTHORIZATION (Form
1) RELEASE NO. 3

 

for

ENGINEERING AND

 

CONSTRUCTION MANAGEMENT SERVICES

 

Between

 

ACUSPHERE, INC. (“ACUSPHERE/OWNER”)

 

and

 

PARSONS COMMERCIAL TECHNOLOGY
INC. (“PARSONS”)

 

 

All work authorized by Acusphere and performed by Parsons in accordance
with this Contract Work Authorization shall be governed by the “Terms and
Conditions for Engineering, Procurement and Construction Management Services
between Acusphere, Inc. and Parsons Commercial Technology Group Inc.” (the
EPCM), effective date July 6, 2004.

 

 

CONTRACT WORK AUTHORIZATION RELEASE 3

(Form 1)

FOR

ENGINEERING AND CONSTRUCTION MANAGEMENT
SERVICES

 

THIS
Contract Work Authorization for the continuing performance of engineering,
construction management, procurement services and placement of subcontracts
(where applicable) is executed March 9, 2005 between ACUSPHERE, INC., with
principal offices at 500 Arsenal Street, Watertown, Massachusetts 02472 (“Acusphere/Owner”)
and PARSONS COMMERCIAL TECHNOLOGY GROUP INC. (“PARSONS”), with principal
offices for this project located at 150 Federal Street, Boston, Massachusetts
02110.

 

This
Contract Work Authorization, the scope of which is defined below, is intended
to cover engineering, construction management, procurement services and
placement of subcontracts (where applicable) (authorized to date by Acusphere)
to be provided by Parsons for Acusphere from July 6, 2004 through April 1,
2005. This Contract Work Authorization (Form 1) Release 3 extends Parson’s
performance period from February 28, 2005, as previously authorized per
Contract Work Authorization (Form 1) Release 2, to April 1, 2005.

 

IN
CONSIDERATION of the covenants hereinafter set forth, the parties hereto
mutually agree as follows:

 

ARTICLE I                                                                                     SCOPE OF SERVICES

 

1.2                                 Description of Services

 

Parsons shall continue to perform engineering
construction management and other services as required (hereinafter referred to
as the “Services”) in connection with Owner’s aseptic pharmaceutical
manufacturing facility located at 890 East Street, Tewksbury, Massachusetts
(the “Facilities”), as previously set forth and described in Exhibit 1, which
is attached to Contract Work Authorization (Form 1) Release Number 1, which was
executed by the parties November 11, 2004.

 

ARTICLE II                                                                                 ESTIMATED COST

 

	
  Previous total estimated cost up through and
  including Contract Work Authorization (Form 1) Release Number 2

  	
   

  	
  $

  	
  6,006,000.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Estimated increase based on Contract Work
  Authorization (Form 1) Release Number 3

  	
   

  	
  $

  	
  230,948.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Revised total estimated cost up through this
  Contract Work Authorization (Form 1) Release Number 3

  	
   

  	
  $

  	
  6,236,948.00

  	
   

  

 

It is anticipated that the revised estimated costs
added herein will be incurred prior to the end of April 1, 2005 and that,
in accordance with the terms of the EPCM and Contract Work Authorization (Form
1) Release Nos. 1, 2 and 3, if Acusphere were to terminate this contract during
this term or elect to not extend this contract beyond April 1, 2005,
Acusphere will be liable for  costs
which  exceed the amounts stated above,
relating primarily to costs associated

 

 

with materials purchased by subcontractors for this
project.  Parson’s has presented data to
Acusphere suggesting, based upon Parsons experience and the terms of the subcontracts,
that the maximum amount of such additional costs (although not guaranteed)
should not be more than an additional two million dollars ($2,000,000) and
would likely be less than this amount.

 

ARTICLE III                                                                             TERMS AND CONDITIONS

 

THE PARTIES ACKNOWLEDGE AND
AGREE THE TERMS AND CONDITIONS OF THIS AGREEMENT HAVE BEEN FREELY, FAIRLY AND
THOROUGHLY NEGOTIATED. FURTHER, THE PARTIES ACKNOWLEDGE AND AGREE SUCH TERMS
AND CONDITIONS, INCLUDING BUT NOT LIMITED TO THOSE RELATING TO WAIVERS,
ALLOCATIONS OF, RELEASES FROM, INDEMNITES AGAINST AND LIMITATIONS OF LIABILITY,
WHICH MAY REQUIRE CONSPICUOUS IDENTIFICATION, HAVE NOT BEEN SO IDENTIFIED BY
MUTUAL AGREEMENT AND THE PARTIES HAVE ACTUAL KNOWLEDGE OF THE INTENT AND EFFECT
OF SUCH TERMS AND CONDITIONS. EACH PARTY ACKNOWLEDGES THAT IN EXECUTING THIS
AGREEMENT IT RELIED SOLELY ON ITS OWN JUDGEMENT, BELIEF, AND KNOWLEDGE, AND
SUCH ADVICE AS IT MAY HAVE RECEIVED FROM ITS OWN COUNSEL, AND IT HAS NOT BEEN
INFLUENCED BY ANY REPRESENTATION OR STATEMENTS MADE BY ANY OTHER PARTY OR SUCH
OTHER PARTY’S COUNSEL. NO PROVISION IN THIS AGREEMENT IS TO BE INTERPRETED FOR
OR AGAINST ANY PARTY BECAUSE THAT PARTY OR ITS COUNSEL DRAFTED SUCH PROVISION.

 

ARTICLE IV                                                                             SCHEDULE

 

It is estimated that the
work covered by the Contract Work Authorization shall commence and be completed
as noted below:

 

Work commenced on July 6,
2004 and shall be suspended at the end of the day April 1, 2005 unless a
subsequent authorization to continue is received by Parsons from Acusphere on
or prior to April 1, 2005. 
Notwithstanding the above, Parsons agrees not to award a subcontract for
process piping until either Acusphere and Parsons have agreed to, and Acusphere
has authorized, contract costs beyond April 1, 2005 or express written
approval for such subcontract is approved by Acusphere’s Chief Executive
Officer.

 

All other terms and
conditions for the Contract for Engineering, Procurement and Construction
Management Services, as previously amended by Contract Work Authorization
Numbers 1 through 2 remain unchanged.

 

IN WITNESS WHEREOF, the
parties hereto have executed this contract, document as of the date and year
first above written.

 

	
  ACUSPHERE, INC. (“ACUSPHERE”)

  	
   

  	
  PARSONS COMMERCIAL
  TECHNOLOGY GROUP

  INC. (“PARSONS”)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ John F. Thero

  	
   

  	
  By:

  	
  /s/ Todd Williams, Jr.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Senior Vice President

  	
   

  	
   

  	
  Deputy Division Manager

  	
   

  
	
  Title

  	
   

  	
   

  	
  Title

  	
   

  

 

3

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