EX-10.6 7 a05-9234_1ex10d6.htm EX-10.6

EXHIBIT 10.6

 

MODIFICATION TO PROMISSORY NOTE

 

 

WHEREAS, on December 23, 1994, Lee Pharmaceuticals (“Maker”) and Henry L. Lee, Jr. (“Holder”) entered into an agreement (“Note”) whereby Lee Pharmaceuticals was to pay to Henry L. Lee, Jr. the sum of Two Hundred Fifty Thousand Dollars; and

 

WHEREAS, on June 30, 1998, the parties thereto modified said Note to extend the maturity date from June 30, 1998, until January 1, 2005, and the Note had an option to extend the maturity date for an additional five years beyond January 1, 2005.  All other terms and conditions of the Note remained the same.

 

WHEREAS, the parties thereto now desire to further modify said Note and Modification;

 

NOW, THEREFORE, the parties modify said Note and Modification as follows:

 

1.      The maturity date of the Note is extended from January 1, 2005, until January 1, 2010.

 

2.      All other terms and conditions of the Note remain the same.

 

 

Dated  this  24th  day  of  February,  2005

 

 

 

RONALD G. LEE

 

Lee Pharmaceuticals

 

By: Ronald G. Lee, President

 

 

 

 

 

HENRY L. LEE, JR.

 

Henry L. Lee, Jr.