Lock-Up Agreement between Biopure Corporation and David N. Judelson (August 4, 2003)
Summary
This agreement is between Biopure Corporation and its director, David N. Judelson. Mr. Judelson agrees not to sell, transfer, assign, pledge, or otherwise dispose of his shares and warrants from a March 25, 2003 offering until stockholder approval for insider sales is sought at the 2004 annual meeting. He also agrees not to vote these shares or receive dividends on them during this period. The agreement is intended to restrict insider transactions until formal approval is obtained.
EX-10.3 5 b47751bcexv10w3.txt EX-10.2 LOCK AGREEMENT DAVID N JUDESON EXHIBIT 10.3 August 4, 2003 Biopure Corporation 11 Hurley Street Cambridge, MA 02141 Re: Lock-up of Securities Gentlemen: I am a director of Biopure Corporation ("Biopure"). I hold 85,868 shares of Class A Common Stock of Biopure ("Common Stock") together with associated Common Stock warrants to purchase 17,161 additional shares (collectively, the "Securities") which were issued in an offering on March 25, 2003 (the "Offering"). You intend to seek stockholder approval for sales to insiders in the Offering at the 2004 annual meeting of stockholders. At your request, in the interim, I agree that the Securities shall not be sold, transferred, assigned, pledged or hypothecated, nor will I vote any of the Common Stock included in the Securities. In addition, if the Company pays a dividend on its Common Stock, dividends on the Securities will be withheld. Very truly yours, David N. Judelson
