Document:

Unassociated Document

    Exhibit
      10.41

     

    LICENSE
      AGREEMENT

     

    AGREEMENT
      made as of October 1, 2007 between THE TRUSTEES OF COLUMBIA UNIVERSITY IN THE
      CITY OF NEW YORK (“Licensor”),
      having an office c/o Director of Commercial Leasing, Audubon Biomedical Science
      and Technology Park, 3960 Broadway, New York, New York 10032 and Nephros, Inc.
      (“Licensee”),
      having an office at 3960 Broadway, New York, NY 10032.

     

    W
      I T
      N E S S E T H :

     

    WHEREAS,
      Licensee desires to acquire a license to use space at the Audubon Business
      and
      Technology Center in the Mary Woodard Lasker Building (the “Building”),
      located at 3960 Broadway in the City, County and State of New York;
      and

     

    WHEREAS,
      Licensor is agreeable to granting to Licensee a license to use space in the
      Building on the terms and conditions hereinafter set forth.

     

    NOW,
      THEREFORE, the parties agree as follows:

     

    1. LICENSE.
      Licensor
      does hereby grant to Licensee a nontransferable license to use certain space
      (the “Licensed
      Space”)
      on the
      4th floor of the Building as more particularly shown on Exhibit
      “A”
      annexed
      hereto and made a part hereof.

     

    2. TERM.
      The term
      of this Agreement (the “Term”)
      shall
      commence on October 1, 2007 (the “Commencement
      Date”),
      and
      shall, unless sooner terminated in accordance with the terms hereof or pursuant
      to law, continue until September 30, 2008 (the “Expiration
      Date”).

     

    3. CONDITION
      OF PREMISES.
      Licensee
      acknowledges that it has inspected the Licensed Space and agrees to take the
      Licensed Space “as is” without any work being done therein by Licensor, and
      without any obligation upon Licensor to make any contribution toward or to
      assume the performance of any work in order to prepare the Licensed Space for
      use by Licensee. Licensee acknowledges that all materials, fixtures and
      equipment, if any, which Licensor may elect to make available for Licensee’s use
      are, and shall be and remain, the property of Licensor. Licensee acknowledges
      that Licensor has not made and does not make any representations or warranties
      to Licensee, whether directly or indirectly, with respect to the Licensed Space
      or the use or proposed use thereof by Licensee.

     

    4. USE.
      Licensee
      shall use the Licensed Space solely as laboratory and office space. Within
      a
      month of taking occupancy of the Licensed Space, Licensee shall submit to
      Licensor for approval, Licensee’s Regulatory Compliance Plan (the “Plan”)
      which
      Plan shall (a) identify those activities of and materials to be used by Licensee
      which are or may be subject to Environmental Legal Requirements (as hereinafter
      defined) or other Legal Requirements (as hereinafter defined) and (b) detail
      Licensee’s plans and procedures for compliance with Environmental Legal
      Requirements, Legal Requirements and Insurance Requirements (as hereinafter
      defined) as to each specific regulated material and activity. From time to
      time,
      at any time during the Term, Licensee shall revise the Plan to reflect any
      changes in its activities, materials, Environmental Legal Requirements, Legal
      Requirements or Insurance Requirements. The Plan and all such revisions shall
      be
      subject to Licensor’s prior review and approval. 

     

    5. FEE.    
      (a) Licensee agrees to pay to Licensor as and for the use of the Licensed Space
      during the Term an annual amount (the “License
      Fee”)
      as set
      forth on Exhibit
      “B”
      annexed
      hereto and made a part hereof. The License Fee shall be paid in monthly
      installments as set forth on Exhibit
      B,
      in
      advance, on the first day of each and every month during the Term, without
      offset or deduction except that the first monthly installment shall be paid
      upon
      execution hereof. If the Commencement Date shall occur on a day other than
      the
      first day of a calendar month or if the Expiration Date shall occur on a day
      other than the last day of a calendar month, the License Fee for such calendar
      month shall be appropriately prorated.

     

    (b) All
      sums
      of money as shall become due and payable by Licensee to Licensor hereunder
      (collectively, “License
      Consideration”)
      shall
      be paid to Licensor within ten (10) days after receipt by Licensee of bills
      or
      notice from Licensor to Licensee identifying the same. If Licensee shall fail
      to
      pay any License Consideration within such ten (10) day period, or shall fail
      to
      pay any installment of the License Fee within ten (10) days after it is due,
      such unpaid amounts shall bear interest at the rate per annum equal to the
      lesser of (i) two percent (2%) plus the base rate charged by Citibank, N.A.
      and
      in effect during the period such amounts are due and unpaid and (ii) the maximum
      rate permitted by law, from the due date of such payment to the date paid to
      Licensor.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (c) If
      Licensee shall default in performing any term, covenant or condition of this
      Agreement which shall involve the expenditure of money by Licensee to third
      parties, and such default shall continue beyond applicable notice and grace
      period, Licensor may (but shall not be obligated to) make such payment or,
      on
      behalf of Licensee, expend such sum as may be necessary to perform or fulfill
      such term, covenant or condition. All sums so paid or expended by Licensor
      shall
      be deemed to be License Consideration and shall be payable by Licensee to
      Licensor in accordance with Paragraph 5(b) above. No such payment or expenditure
      by Licensor shall be construed as a waiver of Licensee’s default or of
      Licensee’s obligation to perform any term, covenant or condition of this License
      Agreement nor shall it affect any other right or remedy of Licensor under this
      License Agreement.

     

    6. COVENANTS
      AND WARRANTIES.
      Licensee
      covenants and warrants:

     

    (a) at
      Licensee’s sole cost and expense, to keep and maintain the Licensed Space in
      good order and condition, to notify Licensor of any needed repairs, which
      repairs shall be performed by Licensor at Licensee’s sole cost and expense, and
      to quit and surrender the Licensed Space to Licensor upon the expiration or
      earlier termination of this Agreement in as good and proper order and condition
      as at the Commencement Date, reasonable wear and tear excepted; 

     

    (b) at
      Licensee’s sole cost and expense, to comply promptly with (1) all presently
      existing or hereafter enacted laws, orders, ordinances, rules, regulations
      and
      requirements of, and to keep in full force and effect all permits and licenses
      required pursuant to, all federal, state, municipal and local governments and
      their departments, agencies, commissions, boards and officers or any other
      body
      exercising similar jurisdiction and any other governmental agency having
      jurisdiction over the Licensed Space (collectively, “Legal
      Requirements”);
      (2)
      all orders, rules, regulations, requirements and recommendations of the New
      York
      Board of Fire Underwriters or the Insurance Service Office or any other body
      exercising the same or similar functions and having jurisdiction or cognizance
      of all or any part of the Licensed Space or the Building (collectively,
“Insurance
      Requirements”);
      (3)
      any and all policies and procedures of Licensor (including, without limitation,
      Licensor’s Joint Radiation Safety Committee and Licensor’s Office of
      Environmental Health and Safety) governing the use, handling or disposal of
      Hazardous Materials (as hereinafter defined) by its tenants, licensees,
      contractors, employees or researchers, now or hereafter in effect, and (4)
      any
      applicable federal, state or local statute, code, ordinance, rule or regulation,
      any judicial or administrative order or judgment applicable to Licensee or
      the
      Licensed Space and any provision or condition of any permit, license, franchise,
      concession, agreement or other authorization binding on Licensee relating to
      (i)
      the protection of the environment, the safety and health of persons (including
      employees) or the public welfare, (ii) the actual or potential release,
      discharge, disposal or emission (whether past or present) of any Hazardous
      Materials or (iii) the manufacture, processing, distribution, use, treatment,
      storage, disposal, transport, generation or handling of any Hazardous Materials
      (collectively, “Environmental
      Legal Requirements”).
      The
      term “Hazardous
      Materials”
shall
      mean any flammable, explosive, radioactive, chemical or infectious materials,
      hazardous (or biohazardous) materials or wastes, medical wastes, hazardous
      or
      toxic substances, pollutants, gas, vapor, radiation, chemical or related
      materials, asbestos or any material containing asbestos, or any other substance
      or materials as defined in or regulated by any local, state or federal law
      or
      ordinance or regulation promulgated pursuant thereto; 

     

    (c) not
      to
      use, except to identify Licensee’s address (i) as part of its mailing address on
      letterhead and other similar materials or (ii) for purposes of Licensee’s
      publications, the name of Licensor or Columbia University or any of its
      officers, trustees, agents, employees, students or faculty members for any
      purpose whatsoever without receiving the prior written approval of Licensor.
      Without limiting the generality of the foregoing, Licensee shall not conduct
      its
      operations at the Licensed Space under any name which includes the word
“Columbia”, or otherwise hold itself or its business out as having any
      affiliation with Licensor or Columbia University or Columbia-Presbyterian
      Medical Center;

    
      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

    

    (d) to
      comply
      strictly with the Plan (as defined in Paragraph 4 hereof);

     

    (e) not
      to use
      or permit the use of biohazardous agents requiring a degree of containment
      in
      excess of that described as National Institutes of Health Biosafety Level 2,
      as
      defined in the U.S. Department of Health and Human Services, Public Health
      Service, Centers for Disease Control and Prevention and National Institutes
      of
      Health, Biosafety
      in Microbiological and Biomedical Laboratories,
      dated
      May, 1993 and any updates or revisions thereto (the “DHH
      Specifications”);
      

     

    (f) to
      conduct
      all scientific research and development activities in conformity with at least
      the minimum practices, equipment and facilities recommended for such activities
      in the DHH Specifications; and

     

    (g) not
      to use
      or permit the use of any human subjects or live and whole dead animals
      (including, without limitation, live and whole dead mice and rats) on or at
      the
      Licensed Space for any research purposes. In the event that Licensee at any
      time
      during the Term shall desire to (a) use or permit the use of human subjects
      or
      live or whole dead animals for research at the Building or (b) use or permit
      the
      use of any of the facilities of Licensor to house any live or whole dead
      animals, Licensee shall forward a request with appropriate back-up
      documentation, including, without limitation, a detailed description of
      Licensee’s proposed research, to Licensor at the address set forth in Paragraph
      17 hereof. Upon receipt of such notice and back-up documentation, Licensor
      shall
      review such request, provided, however, that Licensor shall, in its sole and
      absolute discretion, have no obligation to consent to Licensee’s
      request.

     

    7. INSURANCE.
      Licensee
      shall, at Licensee’s sole cost and expense, obtain and maintain the following
      types of insurance in not less than the indicated amounts with insurance
      carriers reasonably acceptable to Licensor and otherwise in compliance with
      Exhibit
      “C”
      annexed
      hereto and made a part hereof:

     

    (a) Workers’
      Compensation and Employer’s Liability insurance with respect to all persons
      employed by Licensee at the Licensed Space with a limit of liability in
      accordance with applicable law in the case of Workers’ Compensation and with a
      limit of liability of not less than the following in the case of Employer’s
      Liability:

     

    Bodily
      Injury by Accident - $100,000 each accident;

    Bodily
      Injury by Disease - $500,000 policy limit;

    Bodily
      Injury by Disease - $100,000 each employee;

    

    (b) Comprehensive
      General Liability (bodily injury and property damage) with a combined single
      limit of liability for bodily injury and property damage of $2,000,000 per
      occurrence. Licensor shall be named as an additional insured under this
      policy;

     

    (c) “All
      Risk”
property insurance (including breakage of glass and water damage) to all
      property of Licensee, including all alterations, within the Licensed Space
      in an
      amount equal to the replacement cost of such property; and

     

    (d) Such
      different or the same types of insurance set forth above in such amounts as
      may
      from time to time be reasonably required by Licensor against such other
      insurable hazards as at the time are commonly insured against in the case of
      premises similarly situated.

     

    8. DAMAGE
      AND DESTRUCTION.
      (a) If
      the Licensed Space or any part thereof shall be damaged by fire or other
      casualty, Licensee shall give immediate notice thereof to Licensor and this
      Agreement shall continue in full force and effect, unless Licensor shall elect
      to terminate this Agreement as set forth below. In the event that this Agreement
      shall not be so terminated, Licensor shall restore the Licensed Space at
      Licensor’s expense and the Licensee Fee and License Consideration shall be
      proportionately abated during the period in which Licensor is restoring the
      Licensed Space if all or any portion of the Licensed Space is unusable by
      Licensee for the purposes set forth in Paragraph 4 above during such period.
      Licensee’s liability for the full amount of the Licensee Fee and License
      Consideration shall resume five (5) days after written notice from Licensor
      that
      the Licensed Space is substantially ready for Licensee’s occupancy.

     

    (b) In
      the
      event that the Licensed Space is rendered wholly or substantially unusable
      (whether or not the Licensed Space has been damaged in whole or in part) by
      fire
      or other casualty (of which fact Licensor shall be the sole judge), Licensor
      may
      elect to terminate this Agreement by written notice to Licensee given within
      sixty (60) days after such fire or casualty, specifying the date for the
      expiration of this Agreement, which shall be no more than thirty (30) days
      after
      the giving of such notice.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (c) If
      Licensor shall fail within thirty (30) days after notice by Licensee to Licensor
      of such casualty to restore the damaged portion of the Licensed Space to
      substantially the condition existing prior to such casualty, Licensee may elect
      to terminate this Agreement by written notice to Licensor given prior to
      completion of such restoration, specifying the date for the expiration of this
      Agreement, which shall be no more than thirty (30) days after the giving of
      such
      notice.

     

    (d) Nothing
      contained herein shall relieve Licensee from liability that may exist as a
      result of damage from fire or other casualty. Notwithstanding the foregoing,
      each party shall look first to any insurance in its favor before making any
      claim against the other party for recovery for loss or damage resulting from
      fire or other casualty, and to the extent that such insurance is in force and
      collectible and to the extent permitted by law, Licensor and Licensee each
      hereby releases and waives all rights of recovery against the other or anyone
      claiming through or under the other, by way of subrogation or otherwise. The
      foregoing release and waiver shall be in force only if both parties’ insurance
      policies contain a clause providing that such a release or waiver shall not
      invalidate the insurance and also provided that such clause can be obtained
      without additional premium; it being agreed, however, that the party whose
      insurance carrier requires such additional premium shall notify the other party
      thereof and such other party shall have the right to pay such additional
      premium.

     

    (e) Licensee
      acknowledges that Licensor will not carry insurance on the improvements,
      furniture, furnishings, fixtures and equipment and other personal property
      required to be insured by Licensee pursuant to Paragraph 7(a) above and Licensor
      will not be obligated to repair any damage thereto or replace the
      same.

     

    (f) Licensee
      hereby waives the provisions of Section 227 of the Real Property Law and agrees
      that the provisions of this Paragraph 8 shall govern and control in lieu
      thereof.

     

    9. ALTERATIONS.
      Licensee
      shall not make any improvements, additions, alterations or other changes, except
      for cosmetic and decorative alterations, to the Licensed Space, without the
      prior written consent of Licensor in each instance. 

     

    10. UTILITIES
      AND SERVICES. (a)
      Licensee shall have 24-hour, 7-day-a-week access to the Building and passenger
      elevator service to the Licensed Space. Freight elevator service shall be
      available on business days from 8 a.m. to 4 p.m. If Licensee shall require
      freight elevator service during any other time, Licensor shall furnish same
      provided that Licensee gives Licensor advance notice and that Licensee pays,
      on
      demand, as License Consideration, Licensor’s then established charges
      therefor.

     

    (b) Licensor
      shall provide electric energy to the Licensed Space. Licensee shall pay Licensor
      for electricity consumed by Licensee in the Licensed Space. Licensor will permit
      the electrical risers, feeders and wiring in the Building serving the Licensed
      Space to be used by Licensee for such purpose to the extent that they are
      available, suitable, safe and within the plan and design capacities of the
      Building. Licensee shall not be required to pay Licensor more than the amount
      calculated by applying to the measured demand and/or usage of electrical current
      in or furnished to the Building, the average rate per unit of measurement,
      inclusive of applicable taxes, surcharges, time of day and other charges,
      payable by Licensor for electrical current furnished to the Licensed Space
      by
      the utility company serving the Building. Should any tax or charge in the nature
      of a tax be imposed upon Licensor’s receipts from the sale or resale of
      electrical current to the Licensed Space, then the pro rata share thereof
      allocable to the electrical current furnished to the Licensed Space shall be
      passed on to and paid by Licensee. Bills for Licensee’s usage of electrical
      current shall be paid within ten (10) days by Licensee as License Consideration.
      If due to any change in Legal Requirements Licensor shall not be permitted
      to
      provide electric energy to the Licensed Space, then this Agreement shall not
      be
      affected and Licensee shall arrange to obtain electric energy directly from
      the
      public utility company furnishing electrical service to the Building. In such
      event Licensee shall no longer pay Licensor for electricity
      consumed.

     

    (c) Licensee’s
      use of electrical energy shall never exceed the capacity of the then existing
      risers or wiring installation, in each case. In order to insure that such
      electrical capacity is not exceeded and to avert possible adverse effect upon
      the Building’s electrical system, Licensee shall not, without the prior written
      consent of Licensor, make or perform or permit any alteration to wiring
      installations or other electrical facilities in or serving the Licensed Space
      or
      any additions to the electrical fixtures, machines or equipment or appliances
      in
      the Licensed Space. Licensor shall not be obligated to consent to any such
      alteration or installation if, in Licensor’s judgment, the same are unnecessary
      or will cause permanent damage or injury to the Building, the Building equipment
      or the Licensed Space or will cause or create a hazardous condition or entail
      excessive or unreasonable alterations, repairs or expense or interfere with
      or
      disturb other tenants or occupants. Only rigid conduit or such other wiring
      or
      conduit as shall not violate Legal Requirements will be allowed.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (d) Licensor
      shall have no liability to Licensee for any loss, damage or expense which
      Licensee may sustain or incur by reason of any change, failure, inadequacy
      or
      defect in the supply or character of the electrical energy or emergency
      generator back-up power furnished to the Licensed Space or if the quantity
      or
      character of the electrical energy is no longer available or suitable for
      Licensee’s requirements, except for any actual damage suffered by Licensee by
      reason of any such failure, inadequacy or defect caused by Licensor’s gross
      negligence, and then only after actual notice thereof.

     

    (e) Licensor
      shall make available from the public water supply to a point or points at or
      near the Licensed Space selected by Licensor such quantities of domestic cold
      and hot water as Licensor, in its sole and absolute judgment, deems adequate
      for
      normal laboratory and ordinary lavatory, cleaning and drinking purposes. In
      the
      event that the Licensee requires hot or cold water for any purposes other than
      those specified in the preceding sentence, including, but not limited to high
      volume laboratory usage, Licensee shall pay Licensor, as License Consideration,
      for water consumed, as shown on separate submeters for cold and hot water
      maintained by Licensee, together with all sewer charges and any other rent,
      tax,
      levy or charge based thereon which now or hereafter is assessed, imposed or
      a
      lien upon the Licensed Space or the Building, as and when bills are rendered.
      Payment for cold water shall be at the rate charged by the City for cold water.
      Payment for hot water shall be at three (3) times such rate. Licensor shall
      have
      no liability to Licensee for any loss, damage or expense which Licensee may
      sustain or incur if the quantity or character of water service changes or is
      no
      longer available or suitable for Licensee’s purposes.

     

    (f) Licensee
      shall notify Licensor, within ten (10) days after the Commencement Date, of
      the
      water meter number of each water meter serving the Licensed Space and whether
      such meter is for hot water or cold water. If any such meter is installed
      subsequent to the taking of possession by Licensee, then Licensee shall notify
      Licensor of such information within ten (10) days after such
      installation.

     

    (g) Licensor
      shall make available to a point or points at or near the Licensed Space such
      piping, systems, equipment and facilities as Licensor, in its sole and absolute
      judgment, deems adequate to provide gas service for normal laboratory
      consumption. Licensee shall pay Licensor, as License Consideration, for any
      and
      all gas consumed. Meters may be installed and maintained by Licensor, at
      Licensee’s sole cost and expense. The rates charged by Licensor to Licensee for
      gas consumption shall not exceed the rates charged by the utility company
      providing such service. Payment for gas consumed by Licensee in the Licensed
      Space shall be made by Licensee as License Consideration within ten (10) days
      of
      Licensor’s bill therefor. Licensee shall make no alteration, addition or repair
      to the gas connection, installations, equipment and/or facilities without the
      prior written consent of Licensor in each instance. Licensor shall have no
      liability to Licensee for any loss, damage or expense which Licensee may sustain
      or incur if the quantity or character of the gas service is changed or is no
      longer available or suitable for Licensee’s requirements.

     

    (h) Licensor
      shall, without additional charge to Licensee, supply hot water for heat, and
      chilled water for air conditioning and ventilation to the Licensed Space through
      existing Building risers, radiators and air handlers during appropriate seasons
      as may reasonably be required by Licensee for ambient heating and cooling seven
      days a week, 24 hours a day. 

     

    (i) Licensor
      shall provide cleaning services in accordance with the specifications annexed
      hereto as Exhibit
      D
      and made
      a part hereof.

     

    (j) Licensor
      shall supply compressed air and vacuum air to a point or points near the
      Licensed Space in quantities which Licensor deems adequate for normal laboratory
      purposes. If Licensee shall require additional compressed air and vacuum air
      in
      excess of that which Licensor deems adequate for the purposes set forth herein,
      Licensor shall furnish same at Licensor’s then established rates and same shall
      be payable by Licensee, as License Consideration, within ten (10) days of
      Licensor’s bill therefor.

     

    (k) Licensee
      shall be responsible for the proper storage and removal from the Licensed Space
      and the Building and the disposal of all of Licensee’s Hazardous Materials.
      Licensee shall contract for the disposal of Hazardous Materials, at Licensee’s
      cost and expense, with vendors approved by Licensor, in its sole and absolute
      discretion. In contracting with any such vendor, Licensor shall endeavor to
      ensure that Licensee shall receive the benefit of any volume discount granted
      to
      Licensor by such vendor.

     

    11.  NO
      LIENS. (a)
      Licensee shall have no power to do any act or to make any contract which may
      create or give rise to any lien, mortgage or other encumbrance on the estate
      of
      Licensor or any interest of Licensor or Licensee in the Licensed Space or the
      Building.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    (b) If
      any
      lien shall at any time be filed against the Licensed Space or the Building
      by
      reason of any work, labor, services or materials done for, or supplied to,
      or
      claimed to have been done for, or supplied to, Licensee or anyone holding the
      Licensed Space through or under Licensee, Licensee shall cause the same to
      be
      discharged of record or adequately bonded (unless otherwise secured to the
      satisfaction of Licensor) within thirty (30) business days after the date
      Licensee has received notice of the filing of such lien. If Licensee shall
      fail
      to do so, then, Licensor may, but shall not be obligated to, procure the
      discharge of the same either by paying the amount claimed to be due, by deposit
      in a court of competent jurisdiction or by bonding, and Licensor may compel
      the
      prosecution of an action for the foreclosure of such lien by the lienor and
      pay
      the amount of the judgment, if any, in favor of the lienor with interest, costs
      and allowances. Any amount paid or deposited by Licensor for any such purpose,
      and all other expenses of Licensor, including reasonable attorney’s fees and
      disbursements, shall be deemed to be License Consideration and shall be paid
      on
      demand by Licensee. 

     

    12. SUBORDINATION.
      Licensee
      acknowledges that this Agreement is subject and subordinate to any and all
      ground or underlying leases and to all mortgages which may now or hereafter
      affect such leases or the Building and to all renewals, modifications,
      consolidations, replacements and extensions of any such underlying leases and
      mortgages.

     

    13. NO
      ASSIGNMENT OR USE BY THIRD PARTIES.
      Licensee
      shall not permit the use or occupancy of all or any part of the Licensed Space
      by any third party nor assign its rights nor delegate its duties under this
      Agreement. For purposes of this Paragraph 13, a change in control of Licensee
      shall be deemed an assignment hereunder. “Change
      in control”
shall
      be
      deemed to mean a change (by transfer or otherwise) in either (a) ownership
      of
      fifty percent (50%) or more of all of the voting stock of a corporation or
      fifty
      percent (50%) or more of all of the legal and equitable interest in a
      partnership or other business entity or (b) the possession of the power directly
      or indirectly to direct or cause the direction of management and policy of
      a
      corporation, partnership or other business entity, whether through the ownership
      of voting securities, by contract, common directors or officers, the contractual
      right to manage the business affairs of any such corporation, partnership or
      business entity, or otherwise.

     

    14. BROKERAGE.
      Licensee
      represents to Licensor that there is no broker, finder, consultant or similar
      person acting on behalf of Licensee entitled to a commission, fee or other
      compensation in connection with the consummation of this Agreement and no
      conversations or prior negotiations were had by Licensee or anyone acting on
      behalf of Licensee with any broker, finder, consultant or similar person
      concerning the use of the Licensed Space except for such broker(s), if any,
      set
      forth in Exhibit
      “E”
      annexed
      hereto and made a part hereof. Licensee hereby agrees to pay the commission
      of
      any such broker, finder, consultant or similar person. Licensee shall indemnify
      and hold Licensor harmless from and against all liability arising from any
      claims for brokerage commissions, finder’s fees or other compensation resulting
      from or arising out of any alleged conversations, negotiations or actions had
      by
      Licensee or anyone acting on behalf of Licensee with any broker, finder,
      consultant or similar person. The provisions of this Paragraph 14 shall survive
      the termination of this Agreement.

     

    15. ACCESS
      TO THE PREMISES.
      Licensor
      and Licensor’s agents and employees shall have the right to enter the Licensed
      Space for any reasonable purpose, including, without limitation, for purposes
      of
      inspection and repair and monitoring Licensee’s activities for compliance with
      the Environmental Legal Requirements, Legal Requirements, Insurance Requirements
      and the Plan. Except in cases of emergency or where required for effective
      inspection and monitoring for health and safety purposes, Licensor shall provide
      Licensee with one (1) day prior notice of its intention to enter the Licensed
      Space, which notice may be given orally or by telephone provided that it shall
      be followed by written notice received by Licensee on the same day as such
      oral
      or telephone notice. Licensee shall acknowledge such notice “received” by
      signing a copy thereof and returning it to Licensor within twenty-four (24)
      hours of Licensee’s receipt, and Licensor may enter the Licensed Space upon
      receipt of such copy acknowledged by Licensee or upon expiration of such 24-hour
      period, whichever occurs first.

     

    16. INDEMNIFICATION.
      Licensee
      agrees that Licensee shall make no claim against Licensor for any injury or
      damage to Licensee or to any other person(s) or for any damage to, or loss
      (by
      theft or otherwise) of, any property of Licensee or of any other person.
      Licensee further agrees to indemnify and save Licensor harmless from and against
      any and all claims by or on behalf of any person(s), firm(s) or corporation(s)
      arising from the conduct or management of or from any work or thing whatsoever
      done in, on or about the Licensed Space during the Term, and to indemnify and
      save Licensor harmless from and against any and all claims arising from any
      condition of the Licensed Space due to or arising from any act or omission
      or
      negligence of Licensee or any of its agents, contractors, servants, employees,
      licensees or invitees, and from and against all liabilities, costs and expenses
      (including, without limitation, attorneys’ fees and disbursements) incurred in
      or in connection with any such claim or claims or action or proceeding brought
      thereon; and in case any action or proceeding shall be brought against Licensor
      by reason of any such claim, Licensee upon notice from Licensor agrees to resist
      or defend such action or proceeding and to employ counsel therefor reasonably
      satisfactory to Licensor. The provisions of this Paragraph 16 shall survive
      the
      termination of this Agreement.

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    17. NOTICES.
      All
      notices, demands or requests made pursuant to, under or by virtue of this
      Agreement must be in writing (whether or not so stated) and sent either by
      personal delivery or by nationally recognized overnight courier service or
      by
      certified or registered mail, return receipt requested, postage prepaid as
      follows:

     

    
      	To
              Licensor:	
              Director,
                Commercial Leasing

            

    

    Real
      Estate 

    Columbia
      University

    419
      West
      119th St. lower level

    New
      York,
      New York 10027

     

    with
      a

    
      	copy
              to:	
              (i)Vice
                President, Real Estate

            

    

    Columbia
      University 

    410
      West
      118th
      St
      B-230

    New
      York,
      New York 10027

    

    
      	and
              to:	
              (ii)
                Columbia University

            

    

    Office
      of
      the General Counsel

    412
      Low
      Memorial Library

    New
      York,
      New York 10027

    Attention:
      Deputy General Counsel

    

    
      	and
              to:	
              (iii)
                Katten Muchin LLP

            

    

    575
      Madison Avenue

    New
      York,
      New York 10022

    Attention:
      Donald H. Siskind, Esq.

    

    
      
        	To
                Licensee:	
                Nephros,
                  Inc.

              

      

    

    3960
      Broadway

    New
      York,
      NY 10032

    Attention:
      Mr. Norman Barta

    

    

    or
      to such
      alternative address(es) as may from time to time be designated by notice given
      in the manner provided for in this Paragraph 17. Any such notice, demand or
      request shall be deemed to have been rendered or given on the date of delivery,
      in the case of personal delivery or delivery by overnight courier, or on the
      date which is three (3) business days after mailing.

     

    18. SURRENDER.
      Upon the
      termination of this Agreement, Licensee shall peaceably and quietly leave and
      surrender to Licensor the Licensed Space broom clean, in good order and
      condition, ordinary wear and tear excepted.

     

    19. SELF-HELP.
      If
      Licensee shall default in the performance of any covenant, provision, agreement
      or condition of this Agreement, and such default shall continue beyond
      applicable notice and grace period, then Licensor, without waiving such default
      and without liability to Licensee, may (but shall not be obligated), perform
      the
      same (and shall have access to the Premises, if necessary, to do so), including,
      without limitation, the making of repairs, for the account and at the expense
      of
      Licensee. Any amounts paid by Licensor in connection with the foregoing, shall
      be deemed to be License Consideration payable by Licensee to Licensor within
      ten
      (10) days of Licensor’s bill therefor. The rights of Licensor under this
      Paragraph 19 shall be in addition to those set forth in Paragraph
      5(c).

     

    20. TERMINATION.
      (a)
      Licensor may (but shall not be obligated to) terminate this Agreement upon
      ten
      (10) days’ notice to Licensee if (i) Licensee shall default in the payment of
      the Licensee Fee or License Consideration for ten (10) days after the due date
      thereof, (ii) Licensee shall be in default hereunder other than a default set
      forth in subparagraph (i) of this Paragraph 20, which default shall continue
      and
      shall not be cured for thirty (30) days after notice thereof to Licensee, or
      (iii) in the case of a default other that a default set forth in subparagraph
      (i) of this Paragraph 20 which for causes beyond Licensee’s control cannot with
      due diligence be cured within such 30-day period, if Licensee (1) shall not,
      promptly upon receipt of such notice advise Licensor of Licensee’s intention to
      institute all steps necessary to cure such default or (2) shall not institute
      and thereafter with reasonable diligence prosecute to completion all steps
      necessary to cure the same.

     

    (b) Provided
      that Licensee shall surrender and deliver possession of the Licensed Space
      to
      Licensor, and shall not be in default beyond applicable notice and grace period
      in performing any term, covenant, provision or condition of this Agreement,
      Licensee may terminate this Agreement with or without cause upon not less than
      sixty (60) days’ prior written notice to Licensor.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    21. SECURITY
      DEPOSIT.
      (a)
      Licensee has deposited the sum of $ 26,719.10 with Licensor as security for
      the
      full and punctual performance by Licensee of all of the terms of this Agreement,
      to be deposited by Licensor in an interest-bearing account of Licensor’s
      choosing. In the event Licensee defaults in the performance of any of the terms
      of this Agreement, Licensor may use or retain the whole or any part of the
      security deposited to the extent required for the payment of any fees or for
      any
      sum that Licensor may expend or may be required to expend by reason of
      Licensee’s default, including any damages or deficiency in the relicensing or
      letting of the Licensed Space, whether accruing before or after summary
      proceedings or other re-entry by Licensor. In the case of every such use or
      retention, Licensee shall, on demand, pay to Licensor the sum so used or
      retained which sum shall be added to the security deposited so that the same
      shall be replenished to its former amount. In the event any bankruptcy,
      insolvency, reorganization or other creditor-debtor proceedings shall be
      instituted by or against Licensee, or its successors or assigns, the security
      deposited shall be deemed to be applied first to the payment of such fees due
      Licensor for all periods prior to the institution of such proceedings and the
      balance, if any, of the security deposited may be retained by Licensor in
      partial liquidation of Licensor’s damages. If Licensee shall fully and
      punctually comply with all of the terms of this Agreement, the security
      deposited plus any accrued interest thereon (less an amount equal to one percent
      per annum on the security deposited not to exceed the amount of any interest
      earned on the security deposited for Licensee’s administrative costs in
      connection with the security deposited) shall be returned to Licensee after
      the
      termination of this Agreement and delivery of exclusive possession of the
      Licensed Space to Licensor in compliance with the provisions of this
      Agreement.

     

    (b) Any
      interest accrued with respect to the security deposited shall be added to and
      constitute a part of the security deposited to be held and disposed of by
      Licensor in accordance with the terms of this Paragraph 21. Licensor shall
      not
      be liable to Licensee for any interest except for such interest as is actually
      accrued.

     

    (c) Licensee
      shall, concurrently with the execution and delivery of this Agreement, and
      thereafter at any time upon request by Licensor, deliver to Licensor a fully
      completed Form W-9 (Request for Taxpayer Identification Number and
      Certification).

     

    (d) Licensee
      shall not assign or encumber or attempt to assign or encumber the security
      deposited and neither Licensor nor its successors or assigns shall be bound
      by
      any such assignment, encumbrance or attempted assignment or
      encumbrance.

     

    (e) In
      the
      event of a sale or lease of the Building, Licensor shall have the right to
      transfer the security deposited to the vendee or lessee and Licensor shall
      ipso facto
      be
      released by Licensee from all liability for the return of the security deposited
      and Licensee shall look solely to the new licensor for the return of the
      security deposited. The provisions hereof shall apply to every transfer or
      assignment made of the security deposited to a new licensor.

     

    (f) In
      the
      event that the License Fee shall increase pursuant to the terms of this
      Agreement, the amount of security deposited shall be increased so that at all
      times the security deposited (exclusive of interest) shall equal one-sixth
      of
      the current annual License Fee. Licensee shall immediately deposit with Licensor
      the difference between the amount being held by Licensor as security (exclusive
      of interest) and the amount required to be deposited pursuant to this
      Subparagraph 21(f).

     

    22. CAPTIONS.
      The
      captions of the Paragraphs of this Agreement are inserted only as a matter
      of
      convenience and for reference and in no way define, limit or describe the scope
      of this Agreement nor the intent of any provision thereof.

     

    23. RELOCATION.
      At any
      time and from time to time during the Term, Licensor shall have the right to
      relocate Licensee to space in the Building reasonably comparable in size,
      location and utility for the purposes specified in Paragraph 4 above, upon
      not
      less than ninety (90) days’ notice to Licensee.

     

    24. MISCELLANEOUS.
      (a) The
      covenants and agreements contained in this Agreement shall apply to, inure
      to
      the benefit of, and be binding upon Licensor and Licensee and upon their
      respective successors and permitted assigns.

     

    (b) This
      Agreement may not be changed, cancelled or discharged orally, but only by an
      agreement in writing and signed by the party against whom enforcement of any
      waiver, change, modification or discharge is sought. All understandings and
      agreements between Licensor and Licensee are merged in this Agreement which
      represents the entire agreement between the parties and which fully and
      completely sets forth all terms and conditions of the transactions embodied
      in
      this Agreement.

     

    (c) If
      any
      term or provision of this Agreement or any portion of a term or provision of
      this Agreement or the application of any such term or condition to any person
      or
      circumstance shall, to any extent, be invalid or unenforceable, the remainder
      of
      this Agreement, or the application of such term or provision to persons or
      circumstances other than those as to which it is held invalid or unenforceable,
      shall not be affected, and each term and provision of this Agreement shall
      be
      valid and be enforced to the fullest extent permitted by law.

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    (d) This
      Agreement shall be construed in accordance with, and governed by, the laws
      of
      the State of New York applicable to agreements made and performed in the State
      of New York.

     

    25. NO
      LANDLORD - TENANT RELATIONSHIP.
      Licensee
      hereby acknowledges that Licensee acquires no rights as a tenant of the Licensed
      Space and that no landlord-tenant relationship is created hereby.

     

    26. JURISDICTION.
      Licensee
      acknowledges and agrees that all disputes arising, directly or indirectly,
      out
      of or relating to this Agreement, and all actions to enforce this Agreement,
      may
      be dealt with and adjudicated in the state courts of New York or the federal
      courts sitting in New York, and Licensee hereby expressly and irrevocably
      submits the person of Licensee to the jurisdiction of such courts in any suit,
      action or proceeding arising, directly or indirectly, out of or relating to
      this
      Agreement and hereby irrevocably designates the Secretary of State of New York
      as its agent for service of process in any such suit, action or
      proceeding.

     

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
      executed as of the day and year first above written.

    
      	 	 	 
	
               

            	THE
              TRUSTEES OF
              COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK,
              Licensor
	 
 	 
 	 
 
	 	By:  	/s/ Philip
              Silverman
	 	
              
                

              

              Title: Philip
                Silverman 

              Vice President for Real Estate

            
	 	 

    

     

     

    
      	 	 	 
	 	NEPHROS,
              INC.
	 
 	 
 	 
 
	 	By:  	/s/ Norman
              Barta
	 	
              

              Title:
                Norman Barta

              CEO

              Nephros,
                Inc.

            
	 	 

    

     

     

     

    9EXHIBIT
      10.30

     

    

     

    
      
        

      
AMENDMENT
      LETTER 2

    
      
 

    BANK
      OF SCOTLAND

     

    funding
      of

     

    $1,000,000

     

    to

     

    SIMCLAR,
      INC

     

    and

     

    SIMCLAR
      INTERCONNECT TECHNOLOGIES, INC

    

    

    Edinburgh

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              

               

            	 

    

     

    
      	 	
              1st
                Floor

              New
                Uberior House

              11
                Earl Grey Street

              Edinburgh

              EH3
                9BN

               

              For
                the attention of: Douglas Archibald

            
	
              Simclar,
                Inc. (formerly known as Techdyne, Inc.)

              Commission
                File No. 0-14659

              2230
                West 77th Street

              Hialeah

              Florida
                33016

              United
                States of America

              (the
                "Parent")

            	
              Telephone: 0131
                659 1204

              Fax: 0131
                659 1144

               

            
	 	 
	
              Simclar
                Interconnect Technologies, Inc

              1624
                West Jackson

              Ozark

              MO
                65721

              United
                States of America

              (a
                "Subsidiary")

            	 

    

     

    25th
      March
      2008

    Dear
      Sirs

     

    BANKING
      FACILITIES

     

    We
      refer
      to the agreement between ourselves, Simclar Inc. and Simclar Interconnect
      Technologies, Inc. (each a "Borrower" and together the "Borrowers") constituted
      by our offer of facilities dated 21 December 2005 and accepted by you on 22
      December 2005 as amended by an amendment letter dated 26 January 2007 (the
      "Facility Letter") in terms of which we made available to you working capital
      facilities (the "Facilities") subject to the terms and conditions set out in
      the
      Facility Letter. We are writing to you to set out the terms on which the
      Facility Letter is to be amended.

     

    
      	
              1.

            	
              Definitions

            

    

     

    
      	 	
              Words
                and expressions used in this letter shall, except where the context
                otherwise requires, bear the same meaning as in the Facility
                Letter.

            

    

     

    
      	
              2.

            	
              Facilities

            

    

     

    The
      parties agree and acknowledge that on the date referred to above the Facilities
      are a working capital facility with a limit of $1,000,000.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              3.

            	
              Amendments

            

    

     

    
      	
              3.1.

            	
              Subject
                to the terms of clause 4 below, the Facility Letter shall be amended
                as
                follows:-

            

    

     

    
      	 	
              (a)

            	
              the
                following additional clause shall be inserted in the Facility Letter
                following the existing clause
                2.1.3:

            

    

     

    
      	 	
              "2.1.4
                

            	
              Currency
                Borrowings up to $1,000,000 (the "Currency Borrowings
                Limit")";

            

    

     

    
      	 	
              (b)

            	
              the
                following additional clause 2.2.4(d) shall be inserted in the Facility
                Letter following the existing clause
                2.2.4(c):

            

    

     

    
      	 	
              "(d)

            	
              the
                Dollar equivalent of all currency borrowings calculated in accordance
                with
                this letter";

            

    

     

    
      	 	
              (c)

            	
              clause
                3.1 shall be amended by the deletion of the words "BoS
                base rate as that rate fluctuates." and its replacement with the
                words
                "the costs of funds to BoS.";

            

    

     

    
      	 	
              (d)

            	
              the
                following additional clause 5A shall be inserted in the Facility
                Letter
                following the existing clause 5:

            

    

     

    "5A Currency Borrowings

     

    
      	 	
              5A.1

            	
              A
                Borrower may borrow such part of the Working Capital Facility (up
                to in
                aggregate the Currency Borrowings Limit) in any optional currency
                (which
                means, for the purpose of this letter, any currency which is freely
                transferable and convertible into Dollars and is approved by BoS)
                on giving BoS
                two days prior written notice.

            

    

     

    
      	
            	5A.2	
              Currency
                borrowings shall be repayable on
                demand.

            

    

     

    
      	 	
              5A.3

            	
              Each
                Borrower shall pay interest on outstanding currency borrowings borrowed
                by
                it at a rate equal to the cost of funds incurred by BoS
                for purchasing such currencies plus the Applicable Margin, such interest
                payable in arrears. The relevant cost of funds will be set by BoS
                on
                a weekly basis and calculated and accrued daily. Interest will be
                debited
                to the relevant Borrower's currency current account with BoS
                monthly on such dates as BoS
                shall notify to the Borrowers.

            

    

     

    
      	 	
              5A.4

            	
              All
                sums payable under this letter shall be paid in the currency in which
                they
                are due and owing.

            

    

     

    
      	 	
              5A.5

            	
              If
                the Borrowers fail to pay any amount due under the currency borrowings
                on
                demand BoS
                may at any time purchase so much of an optional currency as BoS
                considers necessary or desirable to cover the currency borrowings
                at the
                then prevailing BoS
                spot rate of exchange and the Borrowers shall indemnify BoS
                against the full cost to BoS
                (including all costs, charges and expenses) incurred by it in purchasing
                the relevant optional currency.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              5A.6

            	
              Whenever
                the "Dollar equivalent" of any currency borrowings require to be
                calculated, it shall be calculated at the BoS
                spot rate of exchange for such currency on the applicable day at
                such time
                as BoS
                may select.";

            

    

     

    
      	 	
              (e)

            	
              the
                words "or 5A.2" shall be inserted in clause 6 following the existing
                reference to "clause 2.3.2";

            

    

     

    
      	 	
              (f)

            	
              clause
                10.4 of the Facility Letter shall be amended by the insertion of
                the words
                "365 days (in the case of any amount in Sterling) or" after the words
                "All
                sums of interest or commission will accrue on a daily basis and be
                calculated on the basis of a year
                of";

            

    

     

    
      	 	
              (g)

            	
              paragraph
                (a) of the definition of "Applicable Margin" included in the Schedule
                to
                the Facility Letter shall be amended as
                follows:

            

    

     

    
      	 	
              (i)
                

            	
              by
                the deletion of the words "Greater than or equal to 1.5:1 but less"
                where
                they appear in Column (1) of the table included therein and the
                substitution therefor of the word
                "Less";

            

    

     

    
      	 	
              (ii)
                

            	
              by
                the deletion of the words "Less than 1.5:1" where they appear in
                Column
                (1) of the table included therein;
                and

            

    

     

    
      	 	
              (iii)
                

            	
              by
                the deletion of the amount "1.5" where it appears in Column (2) of
                the
                table included therein;

            

    

     

    
      	 	
              (h)

            	
              the
                definition of "BoS" included in the Schedule to the Facility Letter
                shall
                be deleted and replaced as follows:

            

    

     

    
      	 	 	
              ""BoS"
                means Bank of Scotland plc (Company number SC327000) having its registered
                office at the Mound, Edinburgh, EH1 1YZ and its successors, assignees
                and
                transferees.";

            

    

     

    
      	 	
              (i)

            	
              the
                definition of "Default Rate" included in the Schedule to the Facility
                Letter shall be amended by the deletion of the amount "one and a
                half per
                cent (1.5%)" and its replacement with the amount "two per cent (2%)";
                

            

    

     

    
      	 	
              (j)

            	
              the
                following additional definition shall be inserted following the definition
                of "Default Rate" in the Schedule to the Facility
                Letter:

            

    

     

    
      	 	 	
              ""Dollar"
                and the symbol "$"
                mean the lawful currency of America.";

            

    

     

    
      	 	
              (k)

            	
              the
                deletion of the date "28 January 2008" where it appears in the definition
                of "Review Date" in the Schedule to the Facility Letter and the
                substitution therefor of the date "17 March 2009 ";
                and

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (l)

            	
              the
                following additional definition shall be inserted following the definition
                of "Security Documents" in the Schedule to the Facility
                Letter:

            

    

     

    
      	 	 	
              ""Sterling"
                and the symbol "£"
                mean the lawful currency of the UK.".

            

    

     

    
      	
              3.2.

            	
              Except
                as herein expressly amended, the terms and conditions of the Facility
                Letter are hereby confirmed and any reference in the Facility Letter
                to
                "this letter" (or similar phrases) shall, unless the context otherwise
                requires, be read and construed as a reference to the Facility Letter
                as
                amended by this letter and all Security Documents shall continue
                to secure
                all sums due to BoS
                by
                the Borrowers under the Facility Letter as hereby
                amended.

            

    

     

    
      	
              4.

            	
              Conditions
                Precedent

            

    

     

    
      	
              4.1.

            	
              Subject
                to Clause 4.2, Clause 3 shall not come into effect unless BoS
                has confirmed in writing to the Borrowers
                that:-

            

    

     

    
      	 	
              (a)

            	
              BoS
                is
                satisfied that no Event of Default (as defined in the Committed Facility
                Letter) has occurred and is continuing unwaived;
                and

            

    

     

    
      	 	
              (b)

            	
              BoS
                has received a certificate in the form set out in the Schedule to
                this
                letter executed by a director of each of the
                Borrowers.

            

    

     

    
      	
              4.2.

            	
              If
                BoS
                does
                not confirm to the Borrowers in terms of Clause 4.1 on or prior to
                28
                March 2008 (or such other date as may be agreed in writing by BoS
                from time to time) then this letter will lapse and the amendments
                to be
                made in terms hereof will be of no
                effect.

            

    

     

    
      	
              5.

            	
              Conditions
                Subsequent

            

    

     

    
      	
              5.1.

            	
              The
                Borrowers shall procure that on or prior to 28 April 2008 the following
                documents shall be provided to BoS
                in
                a form and substance satisfactory to BoS:
                

            

    

     

    
      	 	
              (a)

            	
              a
                reaffirmation agreement by the Borrowers (the "Reaffirmation
                Agreement");

            

    

     

    
      	 	
              (b)

            	
              a
                legal opinion by Porter Wright or such other reputable firm of US
                lawyers
                as may be acceptable to BoS,
                addressed to BoS
                in
                relation to the Reaffirmation Agreement;
                and

            

    

     

    
      	 	
              (c)

            	
              certified
                copies of good standing certificates in relation to each of the
                Borrowers.

            

    

     

    
      	
              6.

            	
              Miscellaneous

            

    

     

    
      	
              6.1.

            	
              No
                failure or delay by BoS
                in
                exercising any right or remedy under any BoS
                Document shall operate as a waiver, and no single or partial exercise
                shall prevent further exercise, of any right or
                remedy.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              6.2.

            	
              If
                at any time any provision of this letter is or becomes illegal, invalid
                or
                unenforceable in any respect under any law of any jurisdiction, neither
                the legality, validity or enforceability of the remaining provisions
                nor
                the legality, validity or enforceability or such provision under
                the law
                of any other jurisdiction shall in any way be affected or
                impaired.

            

    

     

    
      	
              6.3.

            	
              The
                Schedule referred to in this letter shall form part of this
                letter.

            

    

     

    
      	
              6.4.

            	
              This
                letter is a BoS
                Document.

            

    

     

    
      	
              7.

            	
              Costs
                and Expenses

            

    

     

    The
      Borrowers will pay or reimburse to BoS
      (on
      a
      full indemnity basis) all reasonable legal, accountancy, valuation, due
      diligence and other fees, costs and expenses or tax charged to or incurred
      by
BoS
      in
      connection with this letter (including the amendment, waiver, enforcement or
      preservation of the BoS
      rights)
      on demand. The Borrowers authorises BoS
      to debit
      any operating account it has with BoS
      with the
      amount of any such fees, costs, expenses or tax which is payable from time
      to
      time.

     

    
      	
              8.

            	
              Law

            

    

     

    This
      letter will be governed by and construed according to Scots law and the Borrower
      submits to the jurisdiction of the Scottish Courts.

     

    Please
      indicate your acceptance of the terms of this letter by executing and returning
      the enclosed copy.

    

    Yours
      faithfully

    

    /s/
      Douglas Archibald
      
        

      

    for
      and
      on behalf of

    BANK
      OF
      SCOTLAND PLC
 

    Agreed
      and accepted for and on behalf of

    SIMCLAR,
      INC. by

    
      	 	 	 	 
	/s/
              Samuel J.
              Russell 	 	 	
            
	
              

            	 	 	Director
	 	 	 	 
	
              /s/ John Ian Durie

              
                
 

            	 	 	Director
	Date
              March 27, 2008	 	 	 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	Agreed
              and
              accepted for and on behalf of 
              SIMCLAR
                INTERCONNECT TECHNOLOGIES, INC. by

            	 	 	 
	 	 	 	 
	/s/
              Samuel J.
              Russell 	 	 	Director
	
              

            	 	 	
            
	/s/ John Ian Durie 
              

            	 	 	Director
	Date
              March 27, 2008   	 	 	 

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    This
      is the Schedule referred to in the preceding amendment letter between BoS,
      Simclar, Inc. and Simclar Interconnect Technologies, Inc. dated
        March
      2008 

    

    THE
      SCHEDULE 

     

    DIRECTOR'S
      CERTIFICATE

     

    l,
      INC. HEADED PAPER

     

    I,
      [insert full name], a Director of [insert corporation's full name], a
      [Florida/Delaware] corporation (the “Corporation”), pursuant to that certain
      Facility Letter, dated as of 21 December 2005 (as may be amended, modified,
      extended or restated from time to time the “Facility Letter”; all capitalized
      terms which are used herein but not otherwise defined herein shall have the
      meanings respectively assigned to them under the Facility Letter), by and among
      Simclar, Inc. and Simclar Interconnect Technologies, Inc., as Borrowers and
      Bank
      of Scotland plc, do hereby certify the following:

     

    
      	
              1.

            	
              Attached
                hereto as Exhibit
                A
                is
                a true, correct and complete copy of the Articles of Incorporation
                of the
                Corporation as filed with the [Florida/Delaware] Secretary of State,
                together with all amendments thereto adopted through the date
                hereof.

            

    

     

    
      	
              2.

            	
              Attached
                hereto as Exhibit
                B
                is
                a true, correct; and complete copy of the Certificate of Good Standing
                of
                the Corporation dated ___
                from the Secretary of State of the State of
                [Florida/Delaware].

            

    

     

    
      	
              3.

            	
              Attached
                hereto as Exhibit
                C
                are true and complete copies of the resolutions adopted by the Board
                of
                Directors of the Corporation by written consent, which resolutions
                authorize and approve, among other things, the execution, delivery
                and
                performance of the Facility Letter, the amendment letter
                dated ___ March
                2008 amending the terms of the Facility Letter (the "Amendment Letter")
                and the other financing documents to which the Corporation is a party
                and
                all other instruments and documents to be executed and delivered
                on behalf
                of the Corporation pursuant to the Facility Letter, the Amendment
                Letter
                and such other financing documents, none of which resolutions have
                been
                amended, modified or revoked and all of which are in full force and
                effect
                on the date hereof.

            

    

     

    
      	
              4.

            	
              Attached
                hereto as Exhibit
                D
                is
                a true, correct and complete copy of the By-laws of the Corporation.
                Such
                By-laws have not been amended, modified, supplemented or rescinded
                and are
                in full force and effect on and as of the date
                hereof.

            

    

     

    
      	
              5.

            	
              The
                persons named below have been duly elected and have duly qualified
                as, and
                on this day are, officers of the Corporation and hold the offices
                set
                forth opposite their names below, and the signatures set forth opposite
                their names below are their genuine
                signatures:

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        	Name	 	Title	 	Signature
	 	 	 	 	_________________________
	 	 	 	 	 
	 	 	 	 	_________________________

      

    

     

    IN
      WITNESS WHEREOF, I have signed this Certificate this ______
      day of
      ______,
      2008.
      [INSERT NAME OF CORPORATION]

     

    By:

     

    Name: 

     

    Title: 

     

    I,
      [insert full name], the ______
      [insert
      title] of the Corporation, do hereby certify that [insert full name] has been
      duly elected and has duly qualified as, and on this day is, a Director of the
      Corporation and the signature above is his genuine signature.

     

    IN
      WITNESS WHEREOF, I have signed this Certificate this ______
      day of
      ______,
      2008.

     

    [INSERT
      NAME OF CORPORATION]

     

    By:
      

     

    Name:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]