Engagement Letter - CytRx Corp. and Cappello Capital Corp.
September 19, 2003
Mr. Steven A. Kriegsman
President and CEO
CytRx Corporation
11726 San Vicente Blvd.
Suite 650
Los Angeles, CA 90049
Dear Steve:
This letter will confirm our agreement that, notwithstanding what is otherwise
provided for in the engagement agreement dated May 16, 2003 by and between
Cappello Capital Corp. and CytRx Corporation, that the below shall constitute
Cappello's fees in full with respect to the placement of $8,695,000 of CytRx's
common stock on September 16, 2003.
Cash - $687,992.90
Warrants - 427,203 with a ten year life and an exercise price of $2.10
Agreed and acknowledge:
CytRx Corporation Cappello Capital Corp.
By: /s/ Steven A. Kriegsman By: /s/ Rob Deutschman
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Steven A. Kriegsman Rob Deutschman
Date: 9/19/03 Date: 9/19/03
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cc: Sandy Hillsberg
Alexander Cappello
Gerard Cappello