EX-10.1 AMENDMENT TO INVESTORS' RIGHTS AGREEMENT

EX-10.1 2 g04817exv10w1.htm EX-10.1 AMENDMENT TO INVESTORS' RIGHTS AGREEMENT EX-10.1 AMENDMENT TO INVESTORS' RIGHTS AGREEMENT
 

Exhibit 10.1
SECOND AMENDMENT TO
INVESTORS’ RIGHTS AGREEMENT
     This Second Amendment to Investors’ Rights Agreement (this “Second Amendment”) is made and entered into as of December 20, 2006, among SIRION HOLDINGS, INC. (f/k/a Tenby Pharma Inc.), a Delaware corporation (the “Company”), and the investors signatory hereto (each such investor is a “Investor” and all such investors are, collectively, the “Investors”). All capitalized terms set forth in this Second Amendment but not otherwise defined herein shall have the meaning ascribed thereto in the Original Agreement.
     WHEREAS, the Company and the Investors have previously entered into that certain Investors’ Rights Agreement dated September 13, 2006, as amended by that certain First Amendment to Investors’ Rights Agreement dated as of November 15, 2006 (collectively as amended, the “Original Agreement”);
     WHEREAS, the Company and the Investors desire to amend certain provisions of the Original Agreement to provide for an additional extension of the required time period within which the Company is required to comply with the requirements of Section 2 of the Original Agreement.
     NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Investors agree as follows:
     1. New Definitions. Section 1 of the Original Agreement is hereby amended by adding the following new definitions thereto (where the same would appear in alphabetical order), to wit:
      “Commission” means the U.S. Securities and Exchange Commission, and any successor federal agency or commission that is delegated administrative authority with respect to the federal securities laws, and the staff thereof.”
      “Securities Act” means the Securities Act of 1933, as amended.”
     2. Definition of “Filing Date”. The term “Filing Date” as defined in Section 1 of the Original Agreement is hereby amended by deleting the current definition in its entirety and substituting the following therefor, to wit:
“Filing Date” means, (a) with respect to the initial Registration Statement required to be filed pursuant to Section 2, the earlier of (i) January 31, 2007, and (ii) the date that is the tenth (10th) day following the closing by the Company of a private offering of equity and/or debt securities pursuant to a financing transaction that results in gross proceeds to the Company of at least $5,000,000, and (b) with respect to any additional Registration Statements that may be required pursuant to Section 3, the 30th day following the date on which the Company receives a valid request for registration pursuant to Section 3.”

 

 

     3. No Other Changes. Except as expressly amended hereby, the Original Agreement shall remain in full force and effect and is hereby ratified and affirmed by the parties.
     4. Counterparts. This Second Amendment may be executed in counterparts, each of which shall constitute an original and all of which together shall constitute one and the same instrument. Any party hereto may execute this Second Amendment by signing any one counterpart. A facsimile copy (including telephonic, portable digital format or other) of this Second Amendment and any signature(s) hereon shall be considered for all purposes as an original.
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     IN WITNESS WHEREOF, the parties have executed this Investors’ Rights Agreement as of the date first written above.
             
    SIRION HOLDINGS, INC.    
    (f/k/a Tenby Pharma Inc.)    
 
            
 
  By:   /s/ Barry Butler     
 
     
 
Name: Barry Butler 		   
 
      Title: CEO and President    
Address for Notice:
3110 Cherry Palm Drive, Suite 340
Tampa, Florida 33619
Facsimile No.: (813)  ###-###-####
Telephone No.: (813)  ###-###-####
Attn: Barry Butler
with a copy (which shall not constitute notice) to:
Hill, Ward and Henderson, P.A.
101 East Kennedy Boulevard, Suite 3700
Tampa, Florida 33602
Facsimile No.: (813)  ###-###-####
Telephone No.: (813)  ###-###-####
Attn: Reid Haney, Esq.
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    NORTH SOUND LEGACY INSTITUTIONAL FUND LLC    
 
            
 
  By:   North Sound Capital LLC; Manager    
 
            
 
  By:   /s/ Andrew B. David    
 
     
 
Name: Andrew B. David 		   
 
      Title: General Counsel    
Address for Notice:
20 Horseneck Lane
Greenwich, Connecticut 06830
Facsimile No.: (203)  ###-###-####
Telephone No.: (203)  ###-###-####
Attn: Andrew B. David, Esq.
with a copy (which shall not constitute notice) to:
Proskauer Rose LLP
1585 Broadway
New York, New York 10036
Facsimile No.: (212)  ###-###-####
Telephone No.: (212)  ###-###-####
Attn: Adam J. Kansler, Esq.
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    NORTH SOUND LEGACY INTERNATIONAL LTD.    
 
            
 
  By:   North Sound Capital LLC; Investment Advisor    
 
            
 
  By:   /s/ Andrew B. David    
 
     
 
Name: Andrew B. David 		   
 
      Title: General Counsel    
Address for Notice:
20 Horseneck Lane
Greenwich, Connecticut 06830
Facsimile No.: (203)  ###-###-####
Telephone No.: (203)  ###-###-####
Attn: Andrew B. David, Esq.
with a copy (which shall not constitute notice) to:
Proskauer Rose LLP
1585 Broadway
New York, New York 10036
Facsimile No.: (212)  ###-###-####
Telephone No.: (212)  ###-###-####
Attn: Adam J. Kansler, Esq.
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    AVALON VENTURES VI, L.P.    
 
            
 
  By:   Avalon Ventures GP, LLC    
 
      its General Partner    
 
            
 
  By:   /s/ Kevin J. Kinsella    
 
     
 
Name: Kevin J. Kinsella 		   
 
      Title: Managing Member    
Address for Notice:
c/o Sytera II, Inc.
888 Prospect Street, Suite 320
La Jolla, CA 92037
Facsimile No.: (858)  ###-###-####
Telephone No.:
Attn:
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    AVALON VENTURES VI GP FUND, LLC    
 
            
 
  By:   Avalon Ventures GP, LLC    
 
      its General Partner    
 
            
 
  By:   /s/ Kevin J. Kinsella    
 
     
 
Name: Kevin J. Kinsella 		   
 
      Title: Managing Member    
Address for Notice:
c/o Sytera II, Inc.
888 Prospect Street, Suite 320
La Jolla, CA 92037
Facsimile No.: (858)  ###-###-####
Telephone No.:
Attn:
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    AVALON VENTURES VII, L.P.    
 
            
 
  By:   Avalon Ventures VII GP, LLC    
 
      its General Partner    
 
            
 
  By:   /s/ Kevin J. Kinsella     
 
     
 
Name: Kevin J. Kinsella 		   
 
      Title: Managing Member    
Address for Notice:
c/o Sytera II, Inc.
888 Prospect Street, Suite 320
La Jolla, CA 92037
Facsimile No.: (858)  ###-###-####
Telephone No.:
Attn:
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  /s/ Barry Butler
 
Barry Butler 		   
Address for Notice:
c/o Tenby Pharma Inc.
3110 Cherry Palm Drive, Suite 340
Tampa, FL 33619
Facsimile No.: (813)  ###-###-####
Telephone No.: (813)  ###-###-####
Attn: Barry Butler
with a copy (which shall not constitute notice) to:
Hill, Ward and Henderson, P.A.
101 East Kennedy Boulevard, Suite 3700
Tampa, FL 33602
Facsimile No.: (813)  ###-###-####
Telephone No.: (813)  ###-###-####
Attn: Reid Haney, Esq.
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  /s/ Roger Vogel
 
Roger Vogel 		   
Address for Notice:
c/o Tenby Pharma Inc.
3110 Cherry Palm Drive, Suite 340
Tampa, FL 33619
Facsimile No.: (813)  ###-###-####
Telephone No.: (813)  ###-###-####
Attn: Roger Vogel
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    WIDDER FAMILY LIMITED PARTNERSHIP    
 
            
 
  By:   /s/ Kenneth J. Widder     
 
     
 
Name: Kenneth J. Widder, M.D. 		   
 
      Title: Partner    
Address for Notice:
c/o Sytera II, Inc.
888 Prospect Street, Suite 320
La Jolla, CA 92037
Facsimile No.: (858)  ###-###-####
Telephone No.:
Attn: Kenneth J. Widder, M.D.
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    THE LICHTER FAMILY TRUST    
 
            
 
  By:   /s/ Jay Lichter     
 
     
 
Name: Jay Lichter, Ph.D. 		   
 
      Title: Trustee    
Address for Notice:
c/o Sytera II, Inc.
888 Prospect Street, Suite 320
La Jolla, CA 92037
Facsimile No.: (858)  ###-###-####
Telephone No.:
Attn: Jay Lichter, Ph.D.
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    PHARMABIO DEVELOPMENT INC.    
         (D/B/A NOVAQUEST)    
 
            
 
  By:   /s/ Kerry E. Zook     
 
     
 
Name: Kerry E. Zook 		   
 
      Title: Vice President    
Address for Notice:
4709 Creekstone Drive
Riverbirch Building, Suite 200
Durham, NC 27703
Facsimile No.: (919)  ###-###-####
Telephone No.: (919)  ###-###-####
Attn: President
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