EX-10.20 3 f93339a2exv10w20.txt EXHIBIT 10.20 EXHIBIT 10.20 AMENDMENT TO STAND-BY PURCHASE AGREEMENT BioTime, Inc., a California corporation (the "Company"), each of the undersigned Participating Debenture Holders have entered into a Standby Purchase Agreement, dated October 2, 2003 (the "Agreement"). Unless otherwise defined, capitalized terms used in this Amendment have the same meaning ascribed in the Agreement. The Company has filed the Registration Statement contemplated by the Agreement. The staff of the Securities and Exchange Commission has advised the Company that they are unable to determine that Milton Dresner would be acting within the safe harbor from registration as a broker-dealer under Rule 3a4-1. Accordingly, the parties agree to that Milton Dresner hereby withdraws as a Participating Debenture Holder, and Schedule I of the Agreement is amended as attached. Dated: December 3, 2003 BIOTIME, INC. By: /s/Judith Segall ---------------- Judith Segall, Vice President PARTICIPATING DEBENTURE HOLDERS: /s/Alfred D. Kinsley ------------------- Alfred D. Kingsley /s/George Karfunkel ------------------- George Karfunkel Goren Brothers, L.P. By /s/Alex Goren ------------- Alex Goren , General Partner /s/Milton Dresner ----------------- Milton Dresner, Trustee Camco Tactical Return Partners, LP By Broadwood Capital, Inc., General Partner By /s/Neal C. Bradsher ------------------- Neal C. Bradsher, President SCHEDULE I PARTICIPATING DEBENTURE HOLDERS PURCHASE COMMITMENTS
NAME AND ADDRESS PURCHASE COMMITMENT ---------------- ------------------- Alfred D. Kingsley $ 818,182 110 E. 59th Street Suite 3203 New York, NY 10022 FAX: (212) 207-3901 George Karfunkel $ 272,727 59 Maiden Lane New York, New York 10038 FAX: (718) 921-8323 Camco Tactical Return Partners, L.P. $ 272,727 c/o Broadwood Capital, Inc. 767 Fifth Avenue, 50th Fl New York, NY 10153 Goren Brothers, L.P. $ 136,364 150 East 52nd St. New York, NY 10022 Total: $1,500,000