Letter Agreement Regarding Waiver of Conversion Rights – Paramount Acquisition Corp. and Shareholders

Contract Categories: Business Finance › Waiver Agreements
Summary

This agreement, dated September 7, 2005, is between Paramount Acquisition Corp. and several shareholders, including Lindsay A. Rosenwald, the Lindsay A. Rosenwald 2000 Family Trusts, J. Jay Lobell, I. Keith Maher, Michael Weiser, Arie Belldegrun, and Isaac Kier. The shareholders agree to waive their rights to convert their shares of Paramount's common stock in connection with any vote to approve a business combination, as described in the company's IPO prospectus. This means they will not seek to exchange their shares for cash or other consideration in such events.

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EX-10.14 6 file002.htm LETTER AGREEMENT 
  September 7, 2005 Paramount Acquisition Corp. 787 Seventh Avenue, 48th Floor New York, New York 10019 Re: Paramount Acquisition Corp. ("Company") --------------------------------------- Gentlemen: Each of the undersigned hereby waives his/its right to exercise conversion rights with respect to any shares of the Company's common stock owned by the undersigned, directly or indirectly, and agrees that he/it will not seek conversion with respect to such shares in connection with any vote to approve a business combination (as is more fully described in the Company's Prospectus relating to the Company's initial public offering). Very truly yours, --------------------------- Lindsay A. Rosenwald LINDSAY A. ROSENWALD 2000 FAMILY TRUSTS By: _______________________________ Name: Title: --------------------------- J. Jay Lobell --------------------------- I. Keith Maher --------------------------- Michael Weiser --------------------------- Arie Belldegrun --------------------------- Isaac Kier