Amendment to Additional Investment Right between Generex Biotechnology Corporation and Smithfield Fiduciary LLC (February 28, 2006)

Contract Categories: Business Finance › Modification Agreements
Summary

Generex Biotechnology Corporation and Smithfield Fiduciary LLC have agreed to amend the terms of an additional investment right originally issued on January 20, 2006. This amendment allows Smithfield to exercise its right to purchase a $1,000,000 convertible debenture at $1.25 per share earlier than previously allowed, provided Smithfield submits a Notice of Exercise by the end of February 28, 2006. The agreement is confirmed by Generex in consideration of Smithfield's timely exercise of this right.

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EX-4.4 5 v036745_ex4-4.htm

Exhibit 4.4

 
February 28, 2006

Smithfield Fiduciary LLC
c/o Highbridge Capital Management, LLC
9 West 57th Street
27th Floor
New York, New York
USA 10019
Attention:   Ari J. Storch / Adam J. Chill


Dear Sirs:
 
Re: Generex Biotechnology Corporation
  - Amendment to Jan 20 06 Additional Investment Right
 
We make reference to the additional investment right issued by Generex Biotechnology Corporation (the “Company”) to Smithfield Fiduciary LLC (“Smithfield”) on January 20, 2006 pursuant to which the Company, inter alia, granted to Smithfield the right to purchase a $1,000,000 principal amount debenture convertible at $1.25 per share (the “AIR”).

The Initial Exercise Date (as that term is defined in the AIR) of the AIR is expressed therein as the 181st day after the date thereof. The Company hereby confirms that, in consideration of the exercise of the AIR by Smithfield and the delivery to the Company of a Notice of Exercise in respect thereof on or before the close of business on February 28, 2006, the Company has agreed to abridge the Initial Exercise Date and to honor the aforementioned Notice of Exercise.

Yours truly,

Generex Biotechnology Corporation

/s/ Mark A. Fletcher


Mark A. Fletcher
Executive Vice-President, General Counsel
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