Amendment No. 1 to Escrow Agreement among Endorex Corporation, Stockholder Representative, Paramount Capital Drug Development Holdings LLC, and Wells Fargo Bank Minnesota

Contract Categories: Business Finance › Escrow Agreements
Summary

This amendment updates the original escrow agreement between Endorex Corporation, certain stockholders of Corporate Technology Development, Inc., their representative, Paramount Capital Drug Development Holdings LLC, and Wells Fargo Bank Minnesota as escrow agent. The amendment revises the schedule for distributing shares of common stock to various stockholders at specified dates in 2002 and 2003. All other terms of the original agreement remain unchanged.

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EX-10.2 5 dex102.txt AMENDMENT #1 ESCROW AGREEMENT Exhibit 10.2 AMENDMENT NO. 1 TO ESCROW AGREEMENT This Amendment No. 1 ("Amendment No. 1") to the Escrow Agreement dated as of November 29, 2001 (the "Agreement") is made and entered into as of November 29, 2001, by and among Endorex Corporation, a Delaware corporation ("Parent"), Peter O. Kliem, as the representative of the stockholders of Corporate Technology Development, Inc. who are parties to the Agreement (the "Stockholder Representative"), Paramount Capital Drug Development Holdings LLC as a stockholder of Corporate Technology Development, Inc. (the "Stockholder"), and Wells Fargo Bank Minnesota, National Association, a national banking association, as escrow agent (the "Escrow Agent"). RECITALS WHEREAS, Parent, certain stockholders of Corporate Technology Development, Inc., a Delaware corporation, the Stockholder Representative and the Escrow Agent have entered into the Agreement; and WHEREAS, Parent, the Stockholder Representative, the Stockholder and the Escrow Agent desire to amend certain terms of the Agreement pursuant to Section 6.5 thereof. AGREEMENT NOW, THEREFORE, in consideration of the premises and the representations, warranties, covenants and agreements contained herein and in the Agreement and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows: 1. Schedule C to the Agreement is hereby be amended and restated in its entirety as set forth on Schedule 1 attached hereto. 2. All capitalized terms used but not defined herein have the meaning ascribed to such terms in the Agreement. 3. All terms of the Agreement other than those amended hereby remain in full force and effect. * * * * * IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be executed and delivered as of the date first written above. PARENT: ENDOREX CORPORATION /s/ Michael S. Rosen ------------------------------- By: Michael S. Rosen --------------------------- Its: President -------------------------- STOCKHOLDER REPRESENTATIVE: /s/ Peter O. Kliem ------------------------------ PETER O. KLIEM ESCROW AGENT: WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, as Escrow Agent /s/ Joseph P. O'Donnell ------------------------------- By: Joseph P. O'Donnell --------------------------- Title: Corporate Trust Officer ------------------------ STOCKHOLDER: PARAMOUNT CAPITAL DRUG DEVELOPMENT HOLDINGS LLC /s/ Lindsay Rosenwald -------------------------------- By: Lindsay Rosenwald --------------------------- Its: --------------------------- Schedule 1 Distributions 1. Common Stock to be distributed by the Escrow Agent to the Stockholder Representative on or promptly after March 31, 2002 pursuant to Section 3 of Schedule B: ----------
Stockholder Name Number of shares of Common Stock TVM Medical Ventures GmbH & Co. KG 101,537 Nomura Bank (Switzerland) Ltd. 90,255 Paul Capital Partners V, L.P. 67,120 Imprimus Investors LLC 37,606 Bristol Rittenhouse Investments, L.P. 37,606 Kendall Investments, LLC 18,803 Richard J. Stern 15,042 Stern Joint Venture, L.P. 15,042 Lindsay A. Rosenwald, M.D. 13,162 Concordia Partners 11,282 C. Benveniste-Schuler 11,282 Drax Holdings, L.P. 9,401 Bernard Selz 9,401 Michael Steinhardt 9,401 Keys Foundation, Curacro 9,401 Albert Reichmann 7,521 James D. Stern 7,521 Paul Capital Partners V (Domestic Annex Fund) L.P. 5,648 Robert I. Falk 3,760 Caxton Partners 3,760 Jeffrey S. Silverman 3,760 The Holding Company 3,760 Seju Suzuki 3,760 Yoshimasa Yamazaki 3,760 Asahi Iron Foundry Co., Ltd. 3,760 Richard Vogel 3,760 Maidenhair Investments, N.V. 3,760 Paul Capital Partners V International, L.P. 2,444 Wayne Saker 1,880 Amram Kass P.C. Money Purchase Plan 1,880 David A. Braver 1,880 Amram Kass PC Defined Benefit Pension Plan 1,880 David A. Wolf 1,880 Tis Prager 1,316 Bruno Widmer 1,316 Karen Cook, IRA (KC) 940 Jack Hirschfield 470 Paramount Capital Drug Development Holdings LLC 131,277 Steve H. Kanzer 11,418 Nicholas Bodor 5,061 Kenneth U. Johnson 5,061 Biotechnology Solutions, LLC 3,191 Nicholas Stergiopoulos 1,528 Michael Weiss 1,518 Peter and Donna Kash 1,012 Huntington Street Company 1,012 June Street Company 1,012 Kash Family Foundation 810 Sarah E. Laut 713 Michael Ferrari 713 Seth Rosenwald 688 Jon Rosenwald 688 William Kanzer 607 Gary Kanzer 607 American Friends of Hebron Yeshiva in Jerusalem 202
Stockholder Name Number of shares of Common Stock Fred Mermelstein 202 Lauren S. Fischer 172 John Knox 172 David M. Tanen 172 Evan S. Borak 172 Hope Viggiani 101 Robert Klein 101 Howard Schain 101 2. Common Stock to be distributed by the Escrow Agent to the Stockholder Representative on or promptly after September 30, 2002 pursuant to Section 4 of Schedule B: ----------
Stockholder Name Number of shares of Common Stock TVM Medical Ventures GmbH & Co. KG 50,769 Nomura Bank (Switzerland) Ltd. 45,128 Paul Capital Partners V, L.P. 33,560 Imprimus Investors LLC 18,803 Bristol Rittenhouse Investments, L.P. 18,803 Kendall Investments, LLC 9,401 Richard J. Stern 7,521 Stern Joint Venture, L.P. 7,521 Lindsay A. Rosenwald, M.D. 6,581 Concordia Partners 5,641 C. Benveniste-Schuler 5,641 Drax Holdings, L.P. 4,701 Bernard Selz 4,701 Michael Steinhardt 4,701 Keys Foundation, Curacro 4,701 Albert Reichmann 3,761 James D. Stern 3,761 Paul Capital Partners V (Domestic Annex Fund) L.P. 2,824 Robert I. Falk 1,880 Caxton Partners 1,880 Jeffrey S. Silverman 1,880 The Holding Company 1,880 Seju Suzuki 1,880 Yoshimasa Yamazaki 1,880 Asahi Iron Foundry Co., Ltd. 1,880 Richard Vogel 1,880 Maidenhair Investments, N.V. 1,880 Paul Capital Partners V International, L.P. 1,222 Wayne Saker 940 Amram Kass P.C. Money Purchase Plan 940 David A. Braver 940 Amram Kass PC Defined Benefit Pension Plan 940 David A. Wolf 940 Tis Prager 658 Bruno Widmer 658 Karen Cook, IRA (KC) 470 Jack Hirschfield 235 Paramount Capital Drug Development Holdings LLC 45,550 Steve H. Kanzer 5,709 Nicholas Bodor 2,530 Kenneth U. Johnson 2,530 Biotechnology Solutions, LLC 1,596 Nicholas Stergiopoulos 764 Michael Weiss 759 Peter and Donna Kash 506 Huntington Street Company 506 June Street Company 506 Kash Family Foundation 405 Sarah E. Laut 357
Stockholder Name Number of shares of Common Stock Michael Ferrari 357 Seth Rosenwald 344 Jon Rosenwald 344 William Kanzer 304 Gary Kanzer 304 American Friends of Hebron Yeshiva in Jerusalem 101 Fred Mermelstein 101 Lauren S. Fischer 86 John Knox 86 David M. Tanen 86 Evan S. Borak 86 Hope Viggiani 50 Robert Klein 50 Howard Schain 50
3. Common Stock to be distributed by the Escrow Agent to the Stockholder Representative on or promptly after March 31, 2003 pursuant to Section 5 of Schedule B: ----------
Stockholder Name Number of shares of Common Stock TVM Medical Ventures GmbH & Co. KG 50,769 Nomura Bank (Switzerland) Ltd. 45,128 Paul Capital Partners V, L.P. 33,560 Imprimus Investors LLC 18,804 Bristol Rittenhouse Investments, L.P. 18,804 Kendall Investments, LLC 9,402 Richard J. Stern 7,522 Stern Joint Venture, L.P. 7,522 Lindsay A. Rosenwald, M.D. 6,581 Concordia Partners 5,641 C. Benveniste-Schuler 5,641 Drax Holdings, L.P. 4,701 Bernard Selz 4,701 Michael Steinhardt 4,701 Keys Foundation, Curacro 4,701 Albert Reichmann 3,761 James D. Stern 3,761 Paul Capital Partners V (Domestic Annex Fund) L.P. 2,825 Robert I. Falk 1,881 Caxton Partners 1,881 Jeffrey S. Silverman 1,881 The Holding Company 1,881 Seju Suzuki 1,881 Yoshimasa Yamazaki 1,881 Asahi Iron Foundry Co., Ltd. 1,881 Richard Vogel 1,881 Maidenhair Investments, N.V. 1,881 Paul Capital Partners V International, L.P. 1,223 Wayne Saker 941 Amram Kass P.C. Money Purchase Plan 941 David A. Braver 941 Amram Kass PC Defined Benefit Pension Plan 941 David A. Wolf 941 Tis Prager 658 Bruno Widmer 658 Karen Cook, IRA (KC) 470 Jack Hirschfield 235 Paramount Capital Drug Development Holdings LLC 45,551 Steve H. Kanzer 5,710 Nicholas Bodor 2,531 Kenneth U. Johnson 2,531 Biotechnology Solutions, LLC 1,596 Nicholas Stergiopoulos 765
Stockholder Name Number of shares of Common Stock Michael Weiss 760 Peter and Donna Kash 506 Huntington Street Company 506 June Street Company 506 Kash Family Foundation 405 Sarah E. Laut 357 Michael Ferrari 357 Seth Rosenwald 345 Jon Rosenwald 345 William Kanzer 304 Gary Kanzer 304 American Friends of Hebron Yeshiva in Jerusalem 102 Fred Mermelstein 102 Lauren S. Fischer 86 John Knox 86 David M. Tanen 86 Evan S. Borak 86 Hope Viggiani 51 Robert Klein 51 Howard Schain 51