Document:

McMaster Bioscience Incubation Centre Host Agreement

     

    Exhibit
      4.8

     

     

    
      CONFIDENTIAL

      
        

      

      

      McMASTER
        BIOSCIENCES INCUBATION CENTRE HOST AGREEMENT

      

      B
        E T W E E N:

      

      MCMASTER
        UNIVERSITY,

      hereinafter
        referred to as the “University”; OF THE FIRST PART

      

      and

      

      PreMD
        Inc.

      hereinafter
        referred to as “PreMD”;
        OF THE SECOND PART

      

      WHEREAS
        the University has created the McMaster Biosciences Incubation Centre (“MBIC”)
        in order to host certain incubator occupants for the purposes of fostering
        a
        conducive collective environment for bioscience research and
        development.

      

      AND
        WHEREAS PreMD
        wishes
        to become a participant at the MBIC; 

      

      AND
        WHEREAS the parties wish to set out the terms and conditions under which
        the
        University will make available space and services for PreMD
        at the MBIC. 

      

      NOW
        THEREFORE IN CONSIDERATION of the mutual covenants herein, the parties agree
        as
        follows: 

      

      FACILITY
        SERVICES

      

      
        	
                1.

              	
                The
                  University will provide the following services in order to assist
                  PreMD
                  in the pursuit of PreMD’s
                  bioscience
                  research, development and related activities, which services may
                  be
                  described as below: 

              

      

      

      
        	 	
                (a)
                  

              	
                a
                  licence to use 915 square feet of contiguous functional laboratory
                  and 135
                  square feet of office space, designated as (the “PreMD
                  Licenced Space”), with space to accommodate up to six (6) staff of
                  PreMD
                  which
                  space is more specifically described in Schedule “A” hereto attached ,.
                  

              

      

      

      
        	 	
                (b)

              	
                provide
                  those laboratory support services described in Schedule “B”.
                  

              

      

      

      
        	 	
                (c)

              	
                to
                  provide telephone/fax wiring connections, data and internet connections
                  to
                  a central panel- (PreMD
                  will be responsible for making arrangements with service
                  providers);

              

      

      

      (d)     the
        opportunity to use shared reception, mail and other administration services
        and
        the  use
        of common boardroom and storage facilities;

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      

      
        	 	
                (e)
                  

              	
                access
                  to common areas adjacent to the PreMD
                  Licenced Space, including washrooms, lounges, first aid rooms and
                  other
                  such space owned or leased by the University consistent with access
                  granted to other MBIC occupants; 

              

      

      

      
        	 	
                (f)

              	
                access
                  to University facilities and services, such as food services, photocopy
                  services and athletics under the same conditions, arrangements
                  and costs
                  as members of the general public;

              

      

      

      
        	 	
                (g)

              	
                the
                  option to purchase additional laboratory services at competitive
                  rates as
                  available to other occupants;

              

      

      

      
        	 	
                (h)
                  

              	
                access
                  to local area network services for all office computers and in
                  the
                  conference/meeting room and related IT services and support consistent
                  with University / Computer Services Unit user charges and rates
                  which
                  shall be borne by PreMD;

              

      

      

      
        	 	
                (i)
                  

              	
                normal
                  utilities and maintenance of the PreMD
                  Licenced Space at levels consistent with normal University office
                  use for
                  similar administrative areas; and

              

        	 	 	 

        	 	(j)	
                access to proximate University
                  purchasing
                  services, meeting rooms, conference rooms, board rooms, videoconferencing,
                  university club, library and parking services under the same procedures
                  and arrangements and at the same cost as University departments
                  which
                  costs shall be borne by PreMD;

              

      

      

      In
        consideration of the provision of the services above, PreMD
        shall pay to the University during the term of this Agreement, those fees
        described in Schedule “C” hereof.

      

      HEALTH
        AND SAFETY

      

      2.        Consistent
        with its obligations as an employer, PreMD
        shall:

      

      
        	 	
                (a)

              	
                be
                  responsible for demonstrating compliance with health and safety
                  legislative standards for all of its employees and visitors; including,
                  without limitation, compliance with all legislative requirements
                  and
                  McMaster University health and safety control programs specifically
                  related to biosafety, radioactive materials and radiation generating
                  devices and hazardous waste
                  management;

              

      

      

      
        	 	
                (b)

              	
                be
                  responsible for ensuring that all of its employees receive any
                  and all
                  relevant health, safety and emergency training. The University
                  may
                  provide, with remuneration from PreMD,
                  access to health and safety training and services, access to
                  crisis/emergency procedures training and access to ergonomic assessment
                  services;

              

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      
        	 	
                (c)

              	
                the
                  University shall ensure that the PreMD
                  Space has all requisite safety equipment including: fire extinguishers,
                  hose access, smoke detectors, and first aid kits;
                  and

              

      

      

      
        	 	
                (d)

              	
                make
                  all remittances for and be responsible for all workplace safety
                  and
                  insurance claims involving PreMD
                  employees.

              

      

      

      

      INSURANCE

      

      
        	
                3.

              	
                PreMD
                  will obtain and maintain at its expense (and provide to the University
                  prior to the signing of this Agreement and annually thereafter)
                  certificates evidencing: 

              

      

       

      
        	 	(a)	Directors' and Officers' Liability
                lnsurance;

        	 	 	 

        	 	
                (b)

              	
                Professional
                  Liability Insurance for PreMD
                  personnel working in the Administrative
                  Centre

              

      

      

      
        	 	
                (c)

              	
                "All
                  Risks" insurance upon PreMD
                  property normally located within the Administrative
                  Centre;

              

      

      

      
        	 	
                (d)

              	
                Comprehensive
                  General Liability Insurance against bodily injury including death,
                  personal injury and property damage, also including liability assumed
                  by
                  contract, Tenant's legal liability and if applicable Non-Owned
                  Automobile
                  liability in an amount not less than Two Million Dollars ($2,000,000.00)
                  per occurrence and not less than Two Million Dollars ($2,000,000.00)
                  in
                  respect of injury or death to a single person and not less than
                  Five
                  Hundred Thousand Dollars ($500,000.00) in respect of any single
                  instance
                  of property damage and will add the University as an Additional
                  Insured.
                  

              

      

      

      Copies
        of these insurance policies will be forwarded by PreMD
        to the Environmental and Occupational Health Support Services, University
        Risk
        Management Office. 

      

      The
        insurance policies referred to in Sub-sections 5 (a), (b), (c) and (d) above
        will: 

      (i)
        contain a waiver of any right of subrogation or recourse by PreMD’s
        insurer against the University and its employees and agents whether or not
        any
        loss is caused by the act, omission or negligence of the University or its
        employees or agents; (ii) provide that PreMD will give the University thirty
        (30) days' prior written notice of cancellation of, material alteration in,
        or
        lapse of, any of such policies; and (iii) provide that such policies will
        not be
        invalidated with respect to the interest of the University by reason of any
        breach or violation by PreMD of any warranties, declarations, or conditions
        contained in the policies. 

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      4.          Consistent
        with its obligations solely as a Licensor of the PreMD
        Space, the University will maintain a policy of Comprehensive General Liability
        insurance against bodily injury including death, personal injury and property
        damage, also including liability assumed by contract, Tenant's legal liability
        and Non-Owned Automobile liability in an amount not less than Five Million
        Dollars ($5,000,000.00) per occurrence and not less than Two Million Dollars
        ($2,000,000.00) in respect of injury or death to a single person and not
        less
        than Five Hundred Thousand Dollars ($500,000.00) in respect of any single
        instance of property damage and provide for cross-liability and severability
        of
        insurance, which means that each named insured on the policy can sue each
        other
        named insured under the terms of the policy. 

      

      INDEMNIFICATION

      

      5.        PreMD
        will:

      

      
        	 	
                a)
                  

              	
                indemnify
                  and save harmless the University, its board of governors, members
                  of its
                  senate, their respective committees, its employees, agents and
                  students
                  from any and all claims or demands of any kind whatsoever, including
                  the
                  costs of defending such claims or demands, arising out of or related
                  to
                  the provision of facilities or services described in this Agreement
                  save
                  and except for any such claims or demands arising or resulting
                  from the
                  negligence or misconduct of the University, its employees or agents;
                  and

              

      

       

      
        	 	
                b)
                  

              	
                release
                  the University, its board of governors, members of its senate,
                  their
                  respective committees, its employees, agents and students from
                  any and all
                  claims or demands of any kind whatsoever arising out of or related
                  to the
                  provision of facilities or services described in this Agreement,
                  unless
                  and to the extent such claims arise out of the negligence or misconduct
                  of
                  the University, its employees or
                  agents.

              

      

      

      TERMINATION

      

      
        	6.            	
                This
                  Agreement may be terminated by either party upon six (6) months
                  notice in
                  writing to the other party or by mutual agreement between the parties.
                  

              

      

       

      TERMS
        OF AGREEMENT

      

      
        	7.            	
                This
                  Agreement shall come into force as of December 1, 2005
                  for a term of three years.
                  It will be reviewed by the parties annually and may be amended
                  from time
                  to time as both parties may agree in writing.

              

      

      

      
        	8.            	
                The
                  parties hereto are not partners of one another for the purposes
                  of this
                  Agreement or otherwise and neither is authorized hereby or otherwise
                  to
                  bind the other in any manner
                  whatsoever.

              

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

      
        	9.              
                    	
                If
                  any provision of this Agreement or the application thereof to any
                  person
                  or circumstance shall, to any extent, be invalid or unenforceable,
                  the
                  remainder of this Agreement, or the application of such provision
                  to
                  persons or circumstances other than those as to which it is held
                  invalid
                  or unenforceable, shall not be affected thereby and each provision
                  of this
                  Agreement shall be valid and enforced to the fullest extent permitted
                  by
                  law and be independent of every other provision of this Agreement.
                  

              

      

      

      
        	10.            	
                Each
                  party hereto agrees from time to time, subsequent to the date hereof,
                  to
                  execute and deliver or cause to be executed and delivered to the
                  other
                  party hereto such instruments or further assurances as may, in
                  the
                  reasonable opinion of the other party, be necessary or desirable
                  to give
                  effect to the provisions of this Agreement.

              

      

      

      
        	11.            	
                All
                  communications which may be or are required to be given by either
                  party to
                  the other herein shall (in the absence of any specific provision
                  to the
                  contrary) be in writing and delivered or sent by prepaid registered
                  mail
                  or by facsimile transmission (provided sender obtains evidence
                  or
                  verification of transmission receipt) to the other party at their
                  following respective addresses: 

              

      

      

      If
        to the University, at: 

      

      McMaster
        University

      1200
        Main Street West

      Hamilton,
        Ontario

      Canada

      L8N
        3Z5

      

      Attention:            Nick
        Markettos

      Office
        of Vice-President, Research

      McMaster
        University

      1280
        Main Street West

      Gilmour
        Hall Room 208

      Hamilton,
        Ontario L8S 4L8

      Fax
        No. 905-521-1993 

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      

      If
        to PreMD, at: 

      

      PreMD
        Inc.

      MDCL
        Rm 5126

      McMaster
        University 

      1200
        Main St. West

      Hamilton,
        Ontario L8N 3Z5

      

      Attention:            Michael
        J. Evelegh, Ph.D.

      Executive
        Vice-President, Clinical & Regulatory Affairs,

      PreMD
        Inc.

      Telephone:
        (905) 627-3569; Fax: (905) 627-3071

      Email:
        mevelegh@imimedical.com

       

      If
        any such communication is sent by prepaid registered mail, it shall, subject
        to
        the following sentence, be conclusively deemed to have been received on the
        third Business Day following the mailing thereof and, if delivered or so
        telecopied, it shall be conclusively deemed to have been received at the
        time of
        delivery or transmission. Notwithstanding the foregoing provisions with respect
        to mailing, in the event that it may be reasonably anticipated that, due
        to any
        strike, lock-out or similar event involving an interruption in postal service,
        any communication will not be received by the addressee by no later than
        the
        third Business Day following the mailing thereof, then the mailing of any
        such
        communication as aforesaid shall not be an effective means of sending the
        same
        but rather any communication must be sent by delivery or facsimile transmission.
        Either party may from time to time change its address hereinbefore set forth
        by
        notice to the other of them in accordance with this section. As used here
        in the
        words "Business Day" mean the days of Monday to Friday, both inclusive, unless
        such day is a statutory or civic holiday in Hamilton, Ontario.

      

      12.     No
        party hereto shall be held responsible or liable or be deemed to be in default
        or in breach of this Agreement for its delay, failure or inability to meet
        any
        of its obligations under this Agreement (other than any obligation to pay
        money)
        caused by or arising from any cause which is unavoidable or beyond the
        reasonable control of such party, including war, warlike operations, terrorism,
        riot, insurrection, orders of government, strikes, lockouts, quarantines,
        disturbances or any act of God or other cause which frustrates the performance
        of this Agreement. 

      

      13.     This
        Agreement and the rights and obligations and relations of the parties hereto
        shall be governed by and construed in accordance with the laws of the Province
        of Ontario and the federal laws of Canada applicable therein (but without
        giving
        consideration to any conflict of laws rules). The parties hereto agree that
        the
        Courts of Ontario shall have jurisdiction to entertain any action or other
        legal
        proceedings based on any provisions of this Agreement. Each party hereto
        does
        hereby attorn to the jurisdiction of the Courts of the Province of Ontario.
        

      

      14.     This
        Agreement comprises the entire agreement between the two parties with respect
        to
        provision of services and facilities by the University to PreMD.

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      

      

      DISPUTE
        RESOLUTION

      

      15.     The
        University and PreMD
        shall attempt in good faith to resolve any dispute arising out of or relating
        to
        this Agreement promptly by negotiations, as follows: Either party may give
        the
        other party written notice of any dispute not resolved in the normal course
        of
        business. Executives of both parties at levels one step above the personnel
        who
        have previously been involved in the dispute shall meet at a mutually acceptable
        time and place within 10 days after delivery of such notice, and thereafter
        as
        often as they reasonably deem necessary, to exchange relevant information
        and to
        attempt to resolve the dispute. If the matter has not been resolved by these
        persons within 30 days of the disputing party's notice, or if the parties
        fail
        to meet within 10 days, the dispute shall be referred to senior executives
        of
        both parties who have authority to settle the dispute and who shall likewise
        meet to attempt to resolve the dispute. If the matter has not been resolved
        within 30 days from the referral of the dispute to senior executives, or
        if no
        meeting of senior executives has taken place within 15 days after such referral,
        the parties shall submit the dispute to arbitration by a single arbitrator
        agreed to by the University and PreMD
        or failing agreement to a panel of three arbitrators, one chosen by each
        of the
        University and PreMD
        and one chosen by the first two so chosen. The arbitration shall be conducted
        in
        accordance with the provisions of the Arbitration Act, 1991 (Ontario) or
        any
        successor to that Act. The arbitration award shall be final and binding on
        the
        University and PreMD
        without any right of appeal and shall deal with the question of costs of
        the
        arbitration. 

      

      Signed
        this ‘17th’
        day of ‘November’ 2005. 

      

      For
        and on behalf of McMaster
        University
        by its duly authorized officers:

      

      Signature:          
        “signed”_______________________
        

      

      Name:
          Dr.
        Mamdouh Shoukri

      

      Title:                  
        Vice
        President Research and International Affairs

      

      For
        and on behalf of PreMD
        by
        its duly authorized officer(s): 

      

      Signature:         “signed”______________________

      

      Name:                
Michael
        J. Evelegh

      

      Title:                   Executive
        Vice President

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      SCHEDULE
        “A”

      

      Description
        of Space

      

      The
        Licenced Space is located on the fifth floor of the Michael DeGroote Centre
        for
        Learning and Discovery (MDCL). It consists of 915 square feet of contiguous
        functional laboratory space (Room 5127) and 135 square feet of office space
        (Room 5126). This represents a combined floor area of 1050 square
        feet.

      

      Laboratory
        space includes rooms 5127 and 5126. In addition PreMD will be able to make
        use
        of common spaces such as the Board Room subject to availability and booking
        with
        the MBIC administrator and the kitchen.

      

      

      

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      

      SCHEDULE
        “B”

      

      Laboratory
        Equipment and Support Services 

      

      The
        space will be equipped with the following:

      

      Chemical
        resistant laboratory benching

      Fume
        Hood (Bench mounted)

      Vented
        Acid Cabinet (under the fume hood)

      Vented
        Solvent Cabinet (under the fume hood)

      Vented
        Flamable Cabinet

      Gas
        Cylinder Straps

      

      

      The
        following electrical service will be available for equipment to be provided
        by
        the occupant:

      

      
        	
                Incubator

              	
                8A

              	
                120V

              	 
	
                Biosafety
                  cabinet

              	
                12A

              	
                110V
                  

              	 
	
                Milli-Q
                  Ultrapure Water System

              	
                15A

              	
                115V

              	
                (1.7L/min
                  0.5 to 5.0 psi RO feed required)

              
	
                Laboratory
                  Glassware Washer 

              	
                20A

              	
                220V

              	 
	
                Refrigerator
                  Upright (2) 

              	
                15A

              	
                110V

              	 
	
                Freezer
                  -20degC

              	
                15A

              	
                110V

              	 

      

      

      Other
        services that may be available to PreMD
        on a “fee for service” basis (if capacity to offer these services exists at the
        University) are:

      

      Autoclave,
        wash-up, histology, FACS, Bio bar Services, Central Supply Services, Health
        Science Scientific Stores. 

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      SCHEDULE
        “C”

       

      Fees

      

      In
        consideration of the provision of the services described in this agreement,
        PreMD
        shall pay to the University during the term of this Agreement, the following
        fees:

      

      

      
        	 	
                a)

              	
                the
                  sum of $40.00 per annum, per square foot for Room 5127 (Wet Laboratory
                  Space) in equal monthly instalments of $3,050.00 payable in advance
                  on the
                  1st
                  day of each month;

              

      

      

      
        	 	
                b)

              	
                the
                  sum of $30.00 per annum, per square foot for Room 5126 (Office
                  Space) in
                  equal monthly instalments of $337.50 payable in advance on the
                  1st
                  day of each month;

              

      

      

      
        	 	
                c)

              	
                the
                  total monthly fee shall be $3,387.50 exclusive of Goods and Services
                  Tax
                  which, if applicable, shall be added
                  thereto.

              

      

      

      These
        fees will remain in force for a period of one year. At the anniversary of
        this
        agreement the University may review the fees in light of changes to the cost
        of
        services and utilities. Any annual increase in fees will not exceed 5% of
        the
        fees paid. 

      
10Canadian License Amendment - Amendment to the License, Development and Supply
      Agreement

     

    Exhibit
      4.12

    

    Canadian
      License Amendment

    

    AMENDMENT
      TO LICENSE, DEVELOPMENT AND SUPPLY AGREEMENT

    

    THIS
      AMENDMENT AGREEMENT effective
      as of December 9, 2005 is made by and between PREMD
      INC. (previously
      known as IMI
      International Medical Innovations Inc.),
      a corporation incorporated under the laws of Canada, and having its principal
      place of business at Suite 615, 4211 Yonge Street, Toronto, Ontario, M2P 2A9,
      Canada (hereinafter referred to as “PreMD”)
      and McNEIL PDI Inc., a corporation incorporated under the laws of Canada, with
      and having its principal place of business at 768 Hebert Street, Desbiens,
      Quebec, Canada (acting through its McNEIL Consumer Healthcare division)
      (hereinafter referred to as “McNEIL”).
      McNEIL
      and PreMD may also be referred to as“Parties.”
      

    

    Whereas:

    A. The
      Parties are parties to a License, Development And Supply Agreement dated as
      of
      May 9, 2002, as amended by agreement dated December 20, 2002 (the “Agreement”);
      

    B.
       The
      Parties wish to waive certain rights and obligations they may have pursuant
      to
      certain provisions contained in the Agreement and to amend the provisions of
      the
      Agreement, in each case as specifically contemplated herein; 

    C. The
      Parties are parties to a License, Development and Supply Agreement dated as
      of
      May 28, 2004 (the “International
      Agreement”);
      and

    D. Capitalized
      terms used herein which are not otherwise defined shall have their respective
      meanings ascribed thereto in the Agreement. 

    

    NOW,
      THEREFORE, in consideration of the mutual covenants and obligations contained
      herein and for other good and valuable consideration, the receipt and
      sufficiency of which is hereby acknowledged, the Parties agree as
      follows:

    

     

    Portions
      of this Exhibit were omitted, as indicated by ********, and have been filed
      separately with the Secretary of the Commission pursuant to the Company’s
      application requesting confidential treatment under Rule 24b-2 of the Securities
      Exchange Act of 1934, as amended.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    Sales
      Minimums

     

    Professional
      Product

     

    
      	 	
              1.

            	
              PreMD
                hereby waives any rights which it may have pursuant to section 17.4.1
                of
                the Agreement as a result of McNeil’s not having the amount of Net Sales
                of Licensed Products as contemplated thereunder provided
                that:

            

    

    
      	 	
              a.

            	
              The
                provisions of section 17.4.1(i) shall be
                deleted;

            

    

    
      	 	
              b.

            	
              The
                provisions of section 17.4.1(ii) shall be deemed to be amended by
                deleting
                the phrase “in any subsequent calendar year commencing after the first
                anniversary of the Effective Date” and replacing it with “in any calendar
                year commencing on and after 2005” and adding the following phrase at the
                end of section 17.4.1(ii): “subject to the provisions of section
                17.4.5”;

            

    

     

    Consumer
      Product 

     

    
      	 	
              2.

            	
              PreMD
                hereby waives any rights which it may have pursuant to section 17.4.2
                of
                the Agreement as a result of McNeil’s not having the amount of Net Sales
                of Licensed Products as contemplated thereunder provided
                that:

            

    

    a.    The
      provisions of section 17.4.2(i) shall be deleted and replaced with the
      following: “i)  by
      the end of the calendar year in which a Licensed Product is cleared for sale
      in
      Canada as a Consumer Product and when PreMD has made such product available
      for
      sale to McNeil that meet the Consumer Product Specifications agreed to by the
      Parties as defined in paragraph 2 c. hereto and PreMD has given McNeil notice
      in
      writing that all of the aforesaid conditions have been satisfied (the
“Availability
      Date”),
      *****.”

    
      	 	
              b.

            	
              The
                provisions of section 17.4.2(ii) shall be deemed to be amended
                by:

            

    

    
      	 	
              i.

            	
              Deleting
                “first anniversary of the Effective date” and replacing it with
                “Availability Date”); and

            

    

    
      	 	
              ii.

            	
              adding
                the following phrase at the end thereof: “subject to the provisions of
                section 17.4.5”;

            

    

    c.    The
      Parties acknowledge that as of the effective date of this Amendment, the Parties
      have not established and agreed upon specifications for the Consumer Product
      for
      sale in the Consumer and Nutritional Fields. The Parties agree to use reasonable
      efforts to mutually agree upon such specifications for the Consumer Product
      in
      writing. After such specifications have been mutually agreed upon by the
      parties, *****. 

     

     

    
      Portions
        of this Exhibit were omitted, as indicated by ********, and have been filed
        separately with the Secretary of the Commission pursuant to the Company’s
        application requesting confidential treatment under Rule 24b-2 of the Securities
        Exchange Act of 1934, as amended.

    

    

    
      
        
          
          

        

        
          -
            2
            -

          
            

          

        

        
          
          

        

      

    

    

    

    Nutraceutical
      Field

     

    
      	 	
              3.

            	
              PreMD
                hereby waives any rights which it may have pursuant to section 17.4.3
                of
                the Agreement as a result of McNeil’s not having the amount of Net Sales
                of Licensed Products as contemplated thereunder provided
                that:

            

    

    a.    The
      provisions of section 17.4.3(i) shall be deleted and replaced with the
      following: “i)  by
      the end of the calendar year in which a Licensed Product is cleared for sale
      in
      Canada as a Consumer Product and when PreMD has made such product available
      for
      sale to McNeil that meet the Consumer Product Specifications agreed to by the
      Parties and PreMD has given McNeil notice in writing that all of the aforesaid
      conditions have been satisfied (the “Availability
      Date”),
      MCNEIL has not had Net Sales of Licensed Products in the Nutraceutical Field
      in
      an amount ***** .

    
      	 	
              b.

            	
              The
                provisions of section 17.4.3(ii) shall be deemed to be amended
                by:

            

    

    
      	 	
              i.

            	
              Deleting
                “first anniversary of the Effective Date” and replacing it with
                “Availability Date”); and

            

    

    
      	 	
              ii.

            	
              adding
                the following phrase at the end thereof: “subject to the provisions of
                section 17.4.5”;

            

    

    

    Laboratory
      Field

     

    
      	 	
              4.

            	
              PreMD
                hereby waives any rights which it may have pursuant to section 17.4.4
                of
                the Agreement as a result of McNeil’s not having the amount of Net Sales
                of Licensed Products as contemplated thereunder provided
                that:

            

    

    
      	 	
              a.

            	
              The
                provisions of section 17.4.4(i) shall be deleted and replaced with
                the
                following:

            

    

    “i)
       in
      any year (and in succeeding years) after the earlier of:

    
      	 	
              1.

            	
              the
                first commercial sale of the Tape Test (as defined in the International
                Agreement) in the Laboratory Field ,
                and

            

    

     

     

    
      Portions
        of this Exhibit were omitted, as indicated by ********, and have been filed
        separately with the Secretary of the Commission pursuant to the Company’s
        application requesting confidential treatment under Rule 24b-2 of the Securities
        Exchange Act of 1934, as amended.

    

     

    
      
        
          
          

        

        
          -
            3
            -

          
            

          

        

        
          
          

        

      

    

    

    

    
      	 	
              2.

            	
              the
                date the Tape Test is cleared for sale in Canada and when product
                is
                available for sale to McNeil that meets the specifications set out
                *****. 

            

    

     

    (the
      earlier of such times being herein referred to as the “Commencement
      Date”)
      McNeil has not had Net Sales of at least ***** related to any Licensed Product
      in the Laboratory Field in the Territory, including at least ***** in Net Sales
      in Canada relating to the Laboratory Field (or, in the case of the first partial
      calendar year after the Commencement Date, at least the amount *****.

     

    
      	 	
              5.

            	
              The
                Agreement shall be amended by adding the following as a new section
                17.4.5
                thereto:

            

    

    “*****

    

    
      	 	
              6.

            	
              The
                parties acknowledge and agree that nothing contained herein shall
                affect
                the entitlement of PreMD to receive the amount by which the Minimum
                Administration Charge exceeds the Administration Charge for such
                year.

            

    

     

    *****

     

    7.    The
      provisions of section 8.5 of the Agreement (other than the first sentence
      thereof) shall not apply in respect
      of the Product in circumstances where the Product is *****. 

     

    
      	     	
              8.

            	
              *****
                

            

    

    
      	 	
              a)

            	
              *****;

            

    

    
      	 	
              b)

            	
              *****;
                and

            

    

    
      	 	
              c)

            	
              *****.

            

              9.        
PreMD
        agrees to use commercially reasonable efforts,
        which for purposes of clarity may, at a minimum, include the need to expend
        funds or make payments (other than PreMD’s attorneys fees and any other PreMD’s
        out-of-pocket expenses in connection with
        the negotiations thereof) of
        ***** to
        renegotiate the development agreement with ***** to further define the rights
        of
        PreMD in Collaboration IP ***** in
        the
        event that intellectual property is created during development work
        in order to provide that PreMD will be granted a worldwide, irrevocable,
        royalty-free, non-exclusive license,
        with the right to grant a
        sublicense, to use and sell Design Elements *****.
        It is acknowledged that there is a similar obligation to make the ***** and
        certain other payments to ***** pursuant to an amendment to the International
        Agreement dated the date hereof. For greater certainty,
        *****.
 

     

    Portions
      of this Exhibit were omitted, as indicated by ********, and have been filed
      separately with the Secretary of the Commission pursuant to the Company’s
      application requesting confidential treatment under Rule 24b-2 of the Securities
      Exchange Act of 1934, as amended.

    

    
      
        
          
          

        

        
          -
            4
            -

          
            

          

        

        
          
          

        

      

    

    

    

    
      	 	
              9.1

            	
              *****
                

            

    

    
      	 	
              9.2

            	
              *****
                

            

    

    
      	 	
              9.3

            	
              *****
                

            

    

    
      	 	
              9.4

            	
              *****

            

    

    

    
      	
              10

            	
              To
                the extent commercially practicable, PreMD shall offer to include
                a
                designated representative of McNeil (the “McNeil
                Designate”)
                in all meetings with ***** and persons from whom ***** licenses any
                patents or rights to patent applications to the extent that such
                meetings
                relate to Collaboration IP ***** in all cases to the extent that
                McNeil
                shall wish to participate in such meetings. PreMD shall provide the
                McNeil
                Designate with such advance notice of such meetings as PreMD shall
                have
                received and PreMD shall use commercially reasonable efforts to schedule
                such meetings at least 48 hours after notice of such meeting has
                been
                provided to the McNeil Designate. McNeil acknowledges that this advance
                notice shall not always be possible, and that the obligations of
                PreMD
                under this section 10 shall
                be subject to PreMD’s need and desire to proceed with meetings with such
                persons on a commercially reasonable and timely and efficient basis.
                If
                such a meeting occurs and McNeil has not been provided with such
                advance
                notice, PreMD will as soon as reasonably practicable after such meeting
                provide the McNeil Designate with a summary of the material matters
                discussed and agreed upon at such
                meeting.

            

    

    

    
      	
              11

            	
              Subject
                to compliance with the terms and conditions of the *****, the parties
                agree that the Collaboration IP shall be considered as Licensed Know-How
                for the purposes of the Agreement.

            

    

     

     

    Portions
      of this Exhibit were omitted, as indicated by ********, and have been filed
      separately with the Secretary of the Commission pursuant to the Company’s
      application requesting confidential treatment under Rule 24b-2 of the Securities
      Exchange Act of 1934, as amended.

    

    
      
        
          
          

        

        
          -
            5
            -

          
            

          

        

        
          
          

        

      

    

    

    Royalty
      on ***** Sales

     

    
      	
              12

            	
              The
                parties acknowledge and agree that for the purposes of provisions
                of
                Article IV of the Agreement the Net Sales of the Licensed Product
                are to
                include any Net Sales attributed to the sales of
                *****.

            

    

     

    Miscellaneous

     

    
      	
              13

            	
              In
                all other respects, the terms and conditions of the Agreement shall
                remain
                in full force and effect,
                unamended.

            

    

    
    

     

    
      	
              14

            	
              The
                provisions of sections 18.7, 18.9 and 18.10 shall apply, mutatis
                mutandis,
                to this amending agreement. 

            

    

     

    IN
      WITNESS WHEREOF, the Parties have duly executed this Agreement as of the day
      and
      year first written above. 

    

    MCNEIL
      PDI INC.

    (acting
      through its McNEIL Consumer Healthcare

    division
      on behalf of McNEIL PDI Inc.)

    

    By:
      /s/______________________

    Name:

    Title:

    Authorized
      Signing Officer

     

    PREMD
      INC.

    A
      Canadian corporation

    

    By:
      /s/______________________

    Name:

    Title:

    Authorized
      Signing Officer

    
Portions
      of this Exhibit were omitted, as indicated by ********, and have been filed
      separately with the Secretary of the Commission pursuant to the Company’s
      application requesting confidential treatment under Rule 24b-2 of the Securities
      Exchange Act of 1934, as amended.

     

     

    -
      6
      -

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