Lock-Up Agreement between Biopure Corporation and Charles A. Sanders, M.D.
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This agreement is between Biopure Corporation and Charles A. Sanders, M.D., a director of the company. Dr. Sanders agrees not to sell, transfer, assign, pledge, or otherwise dispose of his 35,000 shares of Class A Common Stock and 7,000 associated warrants, nor to vote these shares, until Biopure seeks stockholder approval for insider sales at its 2004 annual meeting. Any dividends on these shares will also be withheld during this period.
EX-10.4 6 b47751bcexv10w4.txt EX-10.4 LOCK-UP AGREEMENT CHARLES A SANDERS MD EXHIBIT 10.4 August 1, 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 35,000 shares of Class A Common Stock of Biopure ("Common Stock") together with associated Common Stock warrants to purchase 7,000 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, Charles A. Sanders, M.D.
