Document:

Unassociated Document

    Exhibit
      10.32

    AGREEMENT

    

    between

    Columbia
      Laboratories (Ireland), Ltd

    3
      Burlington Road

    Dublin
      4

    

    

    

    -hereinafter
      named “CUSTOMER”- 

    and

    

    MARO
      PACKAG

    CH-6144
      Zell

    

    -hereinafter
      named “MAROPACK”-

    

    regarding
      the filling of a liquid or semi-solid product into non-returnable
      receptacles.

    

    PREAMBLE.

    

    WITNESSETH
      THAT:

    

    -WHEREAS,
      CUSTOMER is the manufacturer of the PRODUCT and distributor of these products
      under its own name; or a third party

    

    -WHEREAS,
      CUSTOMER requires filling of single doses of certain of its products into
      non-returnable receptacles;

    

    -WHEREAS,
      MAROPACK possesses filling installations which provide for direct filling of
      liquid resp. semi-solid products into receptacles during the production of
      these
      receptacles; 

    

    -WHEREAS,
      MAROPACK is in possession of the know-how for such direct filling of a product
      into non-returnable receptacles;

    

    -WHEREAS,
      CUSTOMER wishes to have filled certain products by MAROPACK according to the
      regulations of this Agreement and MAROPACK wishes to fill these products as
      instructed by CUSTOMER according to the regulations of this
      Agreement;

    

    NOW
      THEREFORE, in consideration of the mutual agreements and obligations, the
      parties hereto agree as follows:

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    Art.
      1
      Definitions

     

    
      	PRODUCT	 	The product delivered by CUSTOMER which
              shall
              be filled into non-returnable receptacles by MAROPACK and which is
              described and specified in Attachment.
	 	 	 
	RECEPTACLES	 	Non-returnable receptacles made of synthetic
              material into which MAROPACK fills one or more doses of the PRODUCT
              according to the instructions of CUSTOMER (by Attachment) and which
              complies with the specifications indicated in Attachment.
	 	 	 
	SECONDARY	 	PACKAGING MATERIAL Packaging materials,
              such
              as folding cardboard boxes, wrappings, etc. into which the RECEPTACLES
              are
              to be integrated as well as instructions to accompany the boxes, according
              to the instructions of CUSTOMER and which are supplied by CUSTOMER
              or a
              third party in conformity with Attachment.
	 	 	 
	PARTY/IES	 	CUSTOMER or MAROPACK, as the case may
              be or
              both CUSTOMER and MAROPACK when used in the plural.
	 	 	 
	AGREEMENT	 	The present Agreement and all Attachments
              thereto as well as any addendums made in accordance with this
              Agreement.

    

     

    Art.
      2
      Subject of the AGREEMENT

    

    This
      AGREEMENT contains the mutual understanding of the PARTIES regarding the filling
      of the PRODUCT into RECEPTACLES by MAROPACK for CUSTOMER against payment of
      CUSTOMER.

    

    Art.
      3
      Rights and Obligations of CUSTOMER

    

    
      	3.1  	
              CUSTOMER
                provides MAROPACK with the instructions to be observed by MAROPACK
                when
                filling the PRODUCT (Attachment). It is CUSTOMER’s responsibility to
                ensure that these instructions (manufacturing -, filling - and other
                instructions and information) are in conformity with the respective
                valid
                legal rules which are to be applied and the recognized pharmaceutical
                standards. The sole responsibility of CUSTOMER also applies in the
                case
                that these rules and standards have been determined in operation
                with
                MAROPACK or contain recommendations of MAROPACK. CUSTOMER undertakes
                to
                keep the rules and standards updated and to advise MAROPACK of any
                change
                immediately in writing. Any changes, with respect to new regulations
                will
                automatically replace the instructions valid at the time of contract
                conclusion listed in Attachment.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
 

    
      	3.2  	
              CUSTOMER
                undertakes to supply MAROPACK with the PRODUCT and the SECONDARY
                PACKAGING
                MATERIALS according to the regulations of this
                AGREEMENT.

            

    

    

    
      	3.3  	
              Each
                supply of the PRODUCT and/or the SECONDARY PACKAGING MATERIALS will
                be
                accompanied by a certificate of analysis which confirms the conformity
                of
                the PRODUCT with the specifications in Attachment 1 and of the SECONDARY
                PACKAGING MATERIALS with the indications given in Attachment and
                confirms
                the respective releases.

            

    

    

    
      	3.4  	
              It
                is CUSTOMER’s responsibility to ensure that the synthetic material of the
                RECEPTACLES and the PRODUCT are compatible and CUSTOMER will be liable
                for
                and agrees to hold MAROPACK harmless from any respective claims of
                third
                parties. Any liability or warranty of MAROPACK with regard to the
                compatibility of the material of the RECEPTACLES and the PRODUCT
                is hereby
                expressly excluded. In the event that MAROPACK suffers damages during
                manufacturing or storing owing to the non-compatibility of the PRODUCT
                and
                the synthetic material of the RECEPTACLES, CUSTOMER undertakes to
                reimburse MAROPACK for all damages occurred without further
                ado.

            

    

    

    
      	3.5  	
              CUSTOMER
                undertakes to take out an insurance policy with an insurance company
                for
                the PRODUCT, the SECONDARY PACKAGING MATERIALS and for any other
                possible
                products (labels, etc.) supplied and for the RECEPTACLES after the
                filling
                has taken place. This insurance shall cover to a full extent the
                loss,
                damage or other deterioration e.g. by fire, water, burglary and theft,
                be
                it at MAROPACK’s site or during
                transport.

            

    

    

    
      	3.6  	
              General
                Information:

            

    

    CUSTOMER
      undertakes to disclose to MAROPACK all data which are relevant for the treatment
      of the PRODUCT, including but not limited to:

    
      	-  	
              Precautionary
                measures to be taken into account for handling, filling and
                packaging

            

    

    
      	-  	
              Storage
                Conditions to be observed

            

    

    
      	-  	
              Waste
                Treatment

            

    

    
      	-  	
              Safety
                measures

            

    

    
      	-  	
              Confirmation
                that the PRODUCT supplied is compatible with the synthetic material
                of the
                RECEPTACLES

            

    

    
      	-  	
              Chemical
                formulation of the PRODUCT.

            

    

    

    
      	3.7  	
              Batch
                Information

            

    

    Each
      supply of PRODUCT by CUSTOMER to MAROPACK shall be accompanied by the following
      date:

    
      	-  	
              Name,
                resp. trade name of the PRODUCT

            

    

    
      	-  	
              Batch
                number

            

    

    
      	-  	
              Description
                of the PRODUCT 

            

    

    
      	-  	
              Specific
                weight

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	-  	
              Confirmation
                that the batch supplied corresponds to the general information according
                to Art. 3.6 above

            

    

    
      	-  	
              Expiry
                date of the PRODUCT of this batch

            

    

    
      	-  	
              Release
                of the PRODUCT of this batch

            

    

    
      	-  	
              If
                the RECEPTACLES are to be labeled, the appropriate labels have to
                be added
                to the delivery together with a certificate of
                release.

            

    

    

    
      	3.8  	
              CUSTOMER
                may, after arrangement with MAROPACK and during normal working hours,
                delegate representatives to the facilities of MAROPACK for checking
                upon
                the correct filling of the PRODUCT into the
                RECEPTACLES.

            

    

    

    
      	3.9  	
              CUSTOMER
                undertakes to observe any and all legal regulations which might apply
                to
                the production of the PRODUCT, its transport, distribution, sale,
                storage,
                etc. at the respective stage, be it on the level of laws or decrees
                or any
                differently named level according to the local circumstances, unless
                MAROPACK shall be responsible for observance according to Art. 4.7
                hereafter. CUSTOMER shall expressly inform MAROPACK when PRODUCTS
                are
                destined for sale in the United States and Canada. It is expressly
                agreed
                that CUSTOMER will act as sole manufacturer of the PRODUCT and assume
                any
                and all responsibility therefore.

            

    

    

    Art.
      4
      Rights and Obligations of MAROPACK

     

    
      	4.1  	
              MAROPACK
                undertakes to use exclusively the synthetic material determined by
CUSTOMER
                according to the samples of MAROPACK for the production of the
                RECEPTACLES.

            

      
         

        	4.2  	MAROPACK will verify the identity of the synthetic
                material to be used for the production
                of the RECEPTACLES, the SECONDARY PACKING MATERIALS and
                the PRODUCT by taking random samples. MAROPACK is not obliged to
                perform
                any other tests, analyses, etc. and does not need to send any notice
                with
                regard
                thereto to CUSTOMER.

      

       

    

    
      	4.3  	
              MAROPACK
                undertakes to fill the PRODUCT supplied into the RECEPTACLES according
                to
                the regulations of this AGREEMENT and the instructions of CUSTOMER
                indicated in Attachment. 

            

    

    

    
      	4.4  	
              Of
                each filling batch, MAROPACK shall take samples according to the
                sampling
                instructions of CUSTOMER (Attachment). The samples shall be sealed.
                They
                will serve as proof and are hereby expressly recognized as such by
                CUSTOMER. MAROPACK is not obliged to have the samples analyzed. They
                will
                be stored until the expiry date of the PRODUCT of the respective
                batch but
                not for more than 6 (six) years. Both parties expressly agree that
                after
                this period the filling process will be considered to be in conformity
                with the AGREEMENT.

            

    

    

    
      	4.5  	
              MAROPACK
                undertakes to send samples of the RECEPTACLES containing the PRODUCT
                after
                filling to CUSTOMER for analysis according to the sampling procedure
                (Attachment 5). After the analysis has been performed by CUSTOMER,
                CUSTOMER shall release the batch for dispatch. MAROPACK shall receive
                a
                copy of the corresponding analysis
                report.

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	4.6  	
              MAROPACK
                undertakes to fill the agreed quantities of the PRODUCT within the
                time
                period defined in this AGREEMENT and send them to CUSTOMER packed
                according to this AGREEMENT.

            

    

    

    
      	4.7  	
              MAROPACK
                undertakes to comply with all Swiss regulations applicable to its
                performance under this AGREEMENT and shall observe the EC Directives,
                valid at the time, for the filling and packaging of pharmaceutical
                products. Any other compliance with regulations will be the responsibility
                of CUSTOMER according to Art. 3.9. 

            

    

    

    Art.
      5
      Delivery Conditions, Quantities and Prices

    

    
      	5.1  	CUSTOMER will have the benefits from and bear all
              risks
              and costs of the transport for
              both the BULK PRODUCT and the completely filled
              RECEPTACLES.

    

     

    
      	5.2  	
              The
                delivery of the PRODUCT to MAROPACK will be effected in scaled containers
                according to the instructions in Attachment. If the seals are damaged,
                MAROPACK will inform CUSTOMER immediately and not fill the PRODUCT
                without
                the respective instructions of CUSTOMER and the latter’s acceptance of
                full responsibility thereof. In the case of non-deliveries or shortages
                Art. 5.3 shall apply accordingly

            

    

    

    
      	5.3  	
              By
                end of October of each year CUSTOMER will provide MAROPACK with an
                estimate of its filling needs according to this AGREEMENT for the
                subsequent year. CUSTOMER will confirm the exact quantities three
                months
                prior to the start of production by means of a written order confirmation.
                The quantities thus confirmed will be binding. MAROPACK will immediately
                confirm these dates, at the latest within 20 days, and reserve free
                capacity at the respective dates. The corresponding quantity of PRODUCT
                will have to reach MAROPACK at least three days prior to processing.
                For
                all capacities thus reserved by MAROPACK which are not used by CUSTOMER
                -
                whether the PRODUCT delivered is of insufficient quantity, does not
                arrive
                in time or is not supplied at all - MAROPACK shall charge SFr.250
                - per
                hour for production loss.

            

    

    

    
      	5.4  	
              After
                termination of the filling process and receipt of the release documents
                according to Art. 4.4 hereabove, the filled RECEPTACLES will be shipped
                by
                MAROPACK to the address given by
                CUSTOMER.

            

    

    

    
      	5.5  	
              The
                prices will be mutually agreed between the PARTIES hereto per end
                of July
                of each year for the subsequent year. MAROPACK will take into
                consideration items like inflation, labour cost etc. The presently
                applicable prices are listed in the
                Attachment.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	5.6  	
              The
                prices are ex works, net. MAROPACK shall render invoices to CUSTOMER
                and
                CUSTOMER shall effect payment within 30 days following the dates
                of
                invoices.

            

    

    

    6.
      Guarantee

     

    
      	6.1  	
              CUSTOMER
                guarantees the delivery of the PRODUCT in accordance with the  Specifications.

            

    

     

    
      	6.2  	
              MAROPACK
                guarantees the filling of the PRODUCT into RECEPTACLES according
                to the
                instructions of Attachments.

            

    

     

    
      	6.3  	
              CUSTOMER
                undertakes to investigate the RECEPTACLES sent by MAROPACK according
                to
                the shipping instructions of CUSTOMER or have them investigated
                immediately upon arrival at the place of destination and to notify
                MAROPACK immediately of any complaints in writing, specifying the
                reasons
                therefore as well as the invoice, order and batch numbers concerned.
                Complaints have to be made in writing within 20 calendar days after
                arrival of the shipment at its place of destination in case of obvious
                defects and within 20 calendar days after discovery in case of non-obvious
                defects. Deliveries for which no such complaints are received by
                MAROPACK
                within the aforementioned periods will be considered to be free of
                defects.

            

    

    

    
      	6.4  	
              The
                guarantee period is restricted to the minimum legal period. Indications
                regarding the expiry date of the PRODUCT are based on investigations
                of
                CUSTOMER and do not have any impact on the guarantee period, especially
                do
                not extend it.

            

    

    

    
      	6.5  	
              If
                the complaint is justified and has been made in time according to
                the
                above-mentioned regulations, MAROPACK shall, without charge, fill
                a
                quantity of the PRODUCT equal to the deficient quantity and reimburse
                CUSTOMER for the cost of the material for the lost PRODUCT BATCH.
                Any
                other claims e.g. for loss of profits are hereby expressly
                excluded.

            

    

    

    
      	6.6  	
              CUSTOMER
                will also notify MAROPACK in writing after expiry of the above-mentioned
                periods in case of any complaint concerning the subject of this
                AGREEMENT.

            

    

    

    7.
      Liability

    

    
      	7.1  	
              Each
                PARTY of this AGREEMENT is liable for any damage to the extent of
                the
                guarantees as stated here above and shall indemnify and hold the
                other
                PARTY harmless from any and all claims for damages raised by any
                third
                parties which are not the other PARTY’s responsibility. Furthermore,
                CUSTOMER is liable for any damages caused by any incompatibility
                of the
                synthetic material of the RECEPTACLES and the PRODUCT according to
                Art. 3
                here above.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	7.2  	
              It
                is the sole responsibility of CUSTOMER to pack the filled RECEPTACLES
                according to the market’s requirements, to provide them with instructions
                for use and to put them on the market. As there is no possibility
                of
                influence by MAROPACK in this respect, MAROPACK is expressly excluded
                from
                any liability whatsoever for any damage which is not clearly caused
                by
                contamination or change of PRODUCT during the services rendered by
                MAROPACK according to this AGREEMENT. Whether or not there is any
                damage
                for which MAROPACK must assume responsibility shall exclusively be
                decided
                upon the samples taken according to point 4.3
                above.

            

    

    

    
      	7.3  	
              Damage
                claims of CUSTOMER against MAROPACK, for whatever legal ground, in
                particular for unpermitted handling, liability of the manufacturer,
                false
                advice or failure to give advice, affirmative breach of obligation,
                culpa
                in contrahendo, impossibility, simple negligence, are limited up
                to a
                maximum amount of SFr. 2’000’000. — (in words: two million Swiss Francs).
                In respect of claims in excess of this amount, MAROPACK shall only
                be
                liable up to the amount of the industrial liability insurance coverage
                which provides for an insurance sum of SFr. 50’000,000.—in the case of
                personal injuries, whereby all insurance claims during one year of
                the
                insurance policy have to be taken into
                account.

            

    

    

    
      	7.4  	
              MAROPACK
                draws CUSTOMER’s attention to the fact that the above mentioned insurance
                does not cover any claims in the USA or in Canada. CUSTOMER therefore
                undertakes to effect liability insurance for the duration of this
                agreement to the extent of a minimum coverage sum as mentioned
                above.

            

    

    

    Art.
      8
      Confidentiality

    

    
      	8.1  	
              In
                order to achieve the purpose of this AGREEMENT as described herein
                the
                PARTIES will disclose to each other proprietary confidential information,
                data, documents etc. (“INFORMATION”) concerning their respective
                activities.

            

    

    

    
      	8.2  	
              Both
                PARTIES undertake to keep strictly secret any and all INFORMATION
                disclosed by the other PARTY which has been clearly labeled as
                confidential in writing and to use it only for the purpose of fulfilling
                this AGREEMENT. Both PARTIES will only disclose the INFORMATION to
                those
                of their employees who have a need of the INFORMATION for the fulfillment
                of this AGREEMENT and will impose the same confidentiality obligation
                on
                such employees.

            

    

    

    
      	8.3  	
              Such
                confidentiality obligation does not apply
                to

            

    

    
      	(a)  	
              INFORMATION
                which at the time of disclosure is in the public
                domain:

            

    

    
      	(b)  	
              INFORMATION
                which after disclosure except by breach of this AGREEMENT by the
                receiving
                PARTY becomes part of the public
                domain.

            

    

    
      	(c)  	
              INFORMATION
                which the receiving PARTY can establish by competent proof was in
                its
                possession at the time of disclosure by the other PARTY and was not
                acquired directly or indirectly from the other
                PARTY;

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	(d)  	
              INFORMATION
                which the receiving PARTY has received from the third parties provided,
                however, that such INFORMATION was not received directly or indirectly
                from the other PARTY.

            

    

    Even
      if
      INFORMATION received from the other PARTY is or becomes part of the public
      domain, the receiving PARTY is not entitled to inform third parties of the
      fact
      that it received the INFORMATION from the other PARTY or that the other PARTY
      uses the INFORMATION in its business or production .

    

    
      	8.4  	
              Neither
                the making of this AGREEMENT nor the performance under any of the
                provisions hereof shall be construed to grant the receiving PARTY
                any
                license or other rights of use.

            

    

    

    
      	8.5  	
              After
                use according to this AGREEMENT each PARTY shall automatically return
                the
                INFORMATION received from the other PARTY without retaining any copies
                thereof against receipt of the other PARTY unless otherwise agreed
                by the
                PARTIES later on in a respective contract and unless the storage
                responsibility of MAROPACK according to the aforementioned Art. 4.3
                or the
                retention of documentation for purpose of proof and possible submission
                to
                authorities is concerned.

            

    

    

    
      	8.6  	
              This
                Confidentiality Provision shall continue to be valid for a term of
                two
                years after termination of this AGREEMENT according to Art.
                11.

            

    

    

    Art.
      9
      Force Majeure

    

    
      	9.1  	
              The
                non-fulfillment of contractual obligations due to an event of Force
                Majeure shall not be considered to be a breach of contract.
                

            

    

    

    
      	9.2  	
              For
                the sake of this AGREEMENT, events of Force Majeure shall be defined
                as
                e.g. fire, explosions, influence of the elements, war, civil war,
                riots,
                revolution, legislation and acts of authorities, strike, interruption
                of
                operation, shortage of raw material or any similar acts beyond the
                reasonable control of the PARTIES.

            

    

    

    
      	9.3  	
              Any
                occurrence of Force Majeure shall be promptly reported to the other
                PARTY
                and adequate evidence thereof shall be furnished
                immediately.

            

    

    

    
      	9.4  	
              Should
                a PARTY be able to fulfill its contractual engagements despite an
                event of
                Force Majeure by incurring higher costs, such higher costs shall
                be
                reimbursed by the other PARTY in addition to the price agreed according
                to
                this AGREEMENT. However, such increase in costs has to be announced
                to the
                other PARTY in advance. The latter is entitled to renounce performance
                at
                such higher costs.

            

    

    

    
      	9.5  	
              The
                PARTY affected by an event of Force Majeure may be given notice of
                immediate termination by the other PARTY if the event of Force Majeure
                lasts more than six (6) months.

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    10.
      Hardship

    

    
      	10.1  	
              If
                an unforeseen change of technical, legal, political or economic nature
                occurs in which the performance of this AGREEMENT will constitute
                an
                unbearable economic hardship to a PARTY, the PARTY so affected may
                request
                that the other PARTY enters into negotiations on the
                hardship.

            

    

     

    
      	10.2  	
              In
                these negotiations the hardship will be evaluated. If both PARTIES
                come to
                the conclusion that a hardship exists they will try in good faith
                to find
                a mutually acceptable solution to alleviate such
                hardship.

            

    

    

    11.
      Term of this AGREEMENT

    

    
      	11.1  	
              This
                AGREEMENT shall enter into force on the date of execution by the
                PARTIES
                and shall continue in full force and effect for a firm period of
                one
                year.

            

    

     

    
      	11.2  	
              After
                expiry of the firm contract period stipulated under point 11.1. here
                above, the AGREEMENT is automatically renewed for a further 12 months’
                period, unless either PARTY gives notice of termination by registered
                letter 6 months prior to expiry of the firm or any prolongation
                period.

            

    

    

    
      	11.3  	
              Any
                liability of the PARTIES according to Art. 7 shall survive termination
                of
                this AGREEMENT.

            

    

    

    Art.
      12 Applicable law/Place of Jurisdiction

    

    
      	12.1  	
              This
                AGREEMENT shall be construed and governed in all respects by the
                laws of
                Switzerland.

            

    

    

    
      	12.2  	
              Any
                dispute which may arise between the PARTIES in relation to this AGEEMENT
                shall be settled amicably between the PARTIES. IF, contrary to
                expectation, no amicable settlement can be reached, both PARTIES
                hereto
                agree to the jurisdiction of the courts of
                Luzern.

            

    

    

    Art.
      13 Miscellaneous

    

    
      	13.1  	
              This
                AGREEMENT shall supersede all previous agreements or understandings,
                either oral or written, between the PARTIES hereto with respect to
                the
                subject matter hereof.

            

    

    

    
      	13.2  	
              No
                agreement or understanding varying or extending this AGREEMENT will
                be
                binding upon either PARTY hereto unless made in
                writing.

            

    

    

    
      	13.3  	
              All
                Attachments to this AGREEMENT form an integral part
                thereof.

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	13.4  	
              Neither
                PARTY is entitled to transfer/assign its duties or rights according
                to
                this AGREEMENT to a third PARTY without the prior written consent
                of the
                other PARTY. Affiliated companies of the PARTY are not regarded as
                such
                third parties.

            

    

    

    
      	13.5  	
              If
                one or more provisions of this AGREEMENT is or become(s) void or
                invalid,
                it/they will be replaced by (an) effective/valid provision(s) which
                correspond(s) as far as possible to the intent, purpose and economic
                effect of the void/invalid one(s). The validity of the remaining
                provisions of this AGREEMENT shall not be affected by the
                invalidity/voidness of any individual provision(s). They will continue
                to
                be in full force and effect unless the invalid/void provision(s)
                cannot be
                replaced by a valid/effective one(s) and would be of such fundamental
                importance that the PARTIES would not have concluded the AGREEMENT
                without
                it/them.

            

    

    

    
      	13.6  	
              Place
                of fulfillment for all liabilities in connection with this AGREEMENT
                is
                Zell (Switzerland).

            

    

    

    14.
      Copies

    

    This
      AGREEMENT shall be executed in two (2) original copies and each PARTY shall
      receive a duly signed copy.

     

    
      	Place/Date:	 	Signatures:
	
            	 	
            
	6144 Zell,              
              22.10.93                  
              	 	/S/ Willy
              Leu                                   
              
	
            	 	MARO PACKAG
	
            	 	
            
	  
                         
              28/10/93                     
              	 	/S/ William J
              Bologna                     
              
	
            	 	Columbia Laboratories Ltd.
	
              Attachments  [Intentionally
                Omitted]

            

    

     

    
      
        
        

      

      
        10Unassociated Document

    

    Exhibit
      10.3

    

    AMENDMENT
      TO STOCK PURCHASE AGREEMENT

    

    This
      Amendment to Stock Purchase Agreement is entered into as of March 25, 2008
      (“Amendment”) by and among Linkwell Corporation, a Florida corporation
      (“Linkwell”), Linkwell Tech Group, Inc., a Florida corporation and wholly-owned
      subsidiary of Linkwell (“Linkwell Tech”), Shanghai Likang Biological High-Tech
      Company, Ltd., a Chinese company (“Likang Biological”), Xuelian Bian, an
      individual, and Shanghai Likang Pharmaceutical Technology Co., Ltd. a Chinese
      company (together with Xuelian Bian, hereinafter referred to as the
“Shareholders”).

    

    RECITALS

    

    WHEREAS,
      on April 6, 2007, Linkwell, Linkwell Tech, Likang Biological and the
      Shareholders (the “Parties”) entered into a Stock Purchase Agreement (the
“Purchase Agreement”); 

    

    WHEREAS,
      pursuant to the terms of the Purchase Agreement, Linkwell Tech was to acquire
      100% of the issued and outstanding capital stock of Likang Biological from
      the
      Shareholders for 1,000,000 newly issued restricted shares of Linkwell’s
      authorized common stock; 

    

    WHEREAS,
      the Parties desire to change the consideration to be paid by Linkwell Tech
      to
      the Shareholders to acquire 100% of the issued and outstanding capital stock
      of
      Likang Biological from the aforementioned 1,000,000 shares to (i) two hundred
      thousand dollars ($200,000)  to
      be
      paid in cash and (ii) 500,000 newly issued restricted shares of Linkwell’s
      authorized common stock (the “Purchase Price”), and to make other modifications
      to the Purchase Agreement as set forth herein; and

    

    WHEREAS,
      pursuant to Section 11.2 of the Purchase Agreement, the parties thereto, may
      amend or modify the Purchase Agreement only by an instrument of equal formality
      signed by the parties or the duly authorized representatives of the
      parties.

     

    NOW
      THEREFORE, in consideration of the mutual covenants set forth herein and for
      other good and valuable consideration the sufficiency and receipt of which
      are
      hereby acknowledged, the parties hereto agree as follows:

    

    1.    Defined
      Terms.
      Capitalized terms not otherwise defined in this Amendment shall have the meaning
      prescribed to them in the Purchase Agreement.

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    2.    Amendments
      to Purchase Agreement.
      The
      Purchase Agreement is hereby amended as follows:

    

    (a)    All
      references to in the Purchase Agreement to “1,000,000” shall be deleted and
      replaced with “500,000” and, as such, the definition of “Linkwell Shares” in the
      Purchase Agreement and this Amendment shall mean 500,000 newly issued restricted
      shares of Linkwell’s authorized common stock. 

    

    (b)    Recital
      B
      is hereby deleted in its entirety and replaced with the following: 

     

    “B.    Linkwell
      Tech intends to acquire 100% of the issued and outstanding capital stock of
      Likang Biological, making Likang Biological a wholly-owned subsidiary of
      Linkwell Tech, and the Shareholders desire to sell 100% of their shares of
      Likang Biological capital stock to Linkwell Tech for (i) two hundred thousand
      dollars ($200,000) to be paid in cash and (ii) the Linkwell
      Shares.”

    

    (c)    Recital
      D
      is hereby deleted in its entirety and replaced with the following: 

    

    “D.    It
      is the
      intention of the parties hereto that: (i) Linkwell Tech shall acquire 100%
      of
      the issued and outstanding capital stock of Likang Biological in exchange for
      (i) two hundred thousand dollars ($200,000) to be paid in cash shares and (ii)
      the Linkwell Shares (the "Exchange"); and (ii) the Exchange shall qualify as
      a
      transaction in securities exempt from registration or qualification under the
      Securities Act of 1933, as amended, (the "Act") and under the applicable
      securities laws of the state or jurisdiction where the Shareholders
      reside.”

    

    (d)    Section
      1
      shall now be called “CONSIDERATION.”

    

    (e)    Section
      1.1 is hereby deleted in its entirety and replaced with the
      following:

    

    “1.1
      Purchase of Shares. Likang Biological and the Shareholders hereby agree that
      the
      Shareholders shall, on the Closing Date, sell 100% of their issued and
      outstanding shares of the capital stock of Likang Biological (the “Biological
      Shares”) to Linkwell Tech in exchange (the “Exchange”) for (i) two hundred
      thousand dollars ($200,000) to be paid in cash and (ii) the Linkwell Shares
      (the
“Purchase Price”).”

     

    (f)    Section
      1.2 is hereby deleted in its entirety and replaced with the
      following:

    

    “1.2
      Delivery. On the Closing Date, the Shareholders will deliver to Linkwell Tech
      the stock certificates representing 100% of the Biological Shares, duly endorsed
      (or with executed stock powers) so as to make Linkwell Tech the 100% owner
      of
      Likang Biological and Linkwell Tech shall pay the Purchase Price to the
      Shareholders or its nominee.” 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (g)    Section
      1.4 is hereby deleted in its entirety and replaced with the
      following:

    

    “1.4 Conditions
      Precedent. Payment
      of the Purchase Price shall be conditional upon (a) the Shareholders completing
      a review of the financial, trading and legal position of Likang Biological;
      (b)
      Likang Biological obtaining all the necessary consent, authorization and
      approval from the relevant regulatory authorities, its board of directors and/or
      its shareholders;”

     

    (h)    Section
      5
      is hereby deleted in its entirety and shall be intentionally
      omitted.

     

    (i)    All
      references to the Closing Date and to the date on which the Closing shall take
      place found in “Section 10” refer to March 25, 2008.

    

    3.    Representations
      and Warranties.
      Likang
      Biological and the Shareholders hereby represent and warrant to Linkwell Tech
      as
      follows:

     

    (a)    Likang
      Biological and the Shareholders, severally and not jointly, have all requisite
      power and authority to execute this Amendment and to perform all of its
      obligations hereunder, and this Amendment has been duly executed and delivered
      by the Likang Biological and the Shareholders and constitutes the legal, valid
      and binding obligation of Likang Biological and the Shareholders, enforceable
      in
      accordance with its terms.

     

    (b)    The
      execution, delivery and performance by Likang Biological and the Shareholders
      of
      this Amendment have been duly authorized by all necessary corporate action
      and
      do not (i) require any authorization, consent or approval by any
      governmental department, commission, board, bureau, agency or instrumentality,
      domestic or foreign, (ii) violate any provision of any law, rule or
      regulation or of any order, writ, injunction or decree presently in effect,
      having applicability to Likang Biological or the Shareholders, or the articles
      of incorporation or by-laws of Likang Biological, or (iii) result in a
      breach of or constitute a default under any indenture or loan or credit
      agreement or any other agreement, lease or instrument to which Likang Biological
      or the Shareholders is a party or by which it or its properties may be bound
      or
      affected.

     

    (c)    All
      of
      the representations and warranties contained in Section 2 of the Purchase
      Agreement are correct on and as of the date hereof as though made on and as
      of
      such date, except to the extent that such representations and warranties relate
      solely to an earlier date.

     

    4.    This
      Amendment may be executed in any number of counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    5.    Counterparts
      of this Amendment (or applicable signature pages hereof) that are manually
      signed and delivered by facsimile transmission shall be deemed to constitute
      signed original counterparts hereof and shall bind the parties signing and
      delivering in such manner.

    

    6.    This
      Amendment shall be construed and enforced in accordance with and governed by
      the
      laws of the State of Florida (without giving effect to any conflicts or choice
      of laws provisions thereof that would cause the application of the domestic
      substantive laws of any other jurisdiction) and together with the Purchase
      Agreement, embodies the complete agreement and understanding among the Parties
      hereto with respect to the subject matter hereof and supersedes and preempts
      any
      prior understandings, agreements or representations by or among the parties,
      written or oral, which may have related to the subject matter hereof in any
      way.

    

    7.    No
      Other
      Changes. Except as explicitly amended by this Amendment, all of the terms and
      conditions of the Purchase Agreement shall remain in full force and
      effect.

     

    
[Remainder
      of Page Intentionally Left Blank]

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have set their hands and seals hereunto
      as
      of the date first set forth above.

     

    
      	Linkwell
              Corporation	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	
              /s/
                Xuelian Bian

            	 	 	 
	
               

               

              Name:

            	
              

              Xuelian
                Bian

            	 	 	
            
	Its:	
              Chairman

            	 	 	 

       

      
        	Linkwell
                Tech Group,
                Inc.	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	
                /s/
                  Wei Guan

              	 	 	 
	
                 

                 

                Name:

              	
                

                Wei
                  Guan

              	 	 	
              
	Its:	
                Director

              	 	 	 

         

        
          	Shanghai
                  Likang
                  Biological High-Tech Company, Ltd.	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	
                  /s/
                    Xuelian Bian

                	 	 	 
	
                   

                   

                  Name:

                	
                  

                  Xuelian
                    Bian

                	 	 	
                
	Its:	
                  President

                	 	 	 

        

         

         

        
          	Shareholders:	 	 	 
	 	 	 	 
	 	 	 	 
	
                  /s/
                    Xuelian Bian

                	 	 	 
	
                  
Name:
                  Xuelian Bian	 	 	
                
	Address:

	 	 	 

        

        
           

          
            	Shanghai
                    Likang
                    Pharmaceutical Technology Co., Ltd.	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	
                    /s/
                      Bing Chen

                  	 	 	 
	
                     

                     

                    Name:

                  	
                    

                    Bing
                      Chen

                  	 	 	
                  
	Its:	
                    President

                  	 	 	 

          

           

          
            
              
              

            

            
              5

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