Item 1.01. Entry into a Material Definitive Agreement
On June 6, 2008, Cortex Pharmaceuticals, Inc., a Delaware corporation (the “Company”), entered into a Fourth Amendment to that Lease by and between the Company and The Northwestern Mutual Life Insurance Company, originally dated as of January 31, 1994, as amended to date (the “Lease Amendment”). The Lease Amendment, among other things, (i) extends the lease term from fifteen (15) years to eighteen (18) years, (ii) extends the lease termination date from May 31, 2009 to May 31, 2012, (iii) sets the minimum monthly rental payments for each year during the three year extension and (iv) grants the Company an option to further extend the lease term for up to three additional one year periods.
The foregoing description of the Lease Amendment is qualified in its entirety by reference to the Lease Amendment, a copy of which is attached hereto as Exhibit 10.108 and incorporated herein by this reference.
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