Document:

Exhibit 10.4

 

EXECUTION
COPY

 

February 1, 2006

 

Tapestry Pharmaceuticals, Inc.

4840 Pearl East Circle, Suite 300W

Boulder, Colorado  80301

Attention:  Leonard Shaykin, Chairman and Chief Executive
Officer

 

Re:          Lock-Up Agreement

 

Ladies and Gentlemen:

 

Reference
hereby is made to that certain Purchase Agreement, dated as of even date
herewith (the “Purchase Agreement”), by and among Tapestry
Pharmaceuticals, Inc. (the “Company”) and each of the Investors
party thereto (the “Investors”). 
Terms used but not otherwise defined herein shall have the meaning set
forth in Purchase Agreement.

 

In
consideration of the Investors’ agreement to enter into the Purchase Agreement
and to proceed with the transactions contemplated thereby, and for other good
and valuable consideration, receipt of which is hereby acknowledged, each of
the undersigned hereby agrees for the benefit of the Company and the Investors
that the undersigned will not, during the period beginning on the date hereof
and ending on the earliest to occur of (i) the first date following
termination of the Purchase Agreement, (ii) ninety days
after the Effective Date or (iii) with respect to any of the undersigned,
the first date following termination of such undersigned’s employment by or
directorship with the Company that is six months following the last
opposite-way transaction that occurred prior to such termination of employment
or directorship, directly or indirectly (A) offer, pledge, assign,
encumber, announce the intention to sell, sell, contract to sell, sell any
option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant to purchase, or otherwise transfer or dispose of,
any shares of Common Stock or any securities convertible into or exercisable or
exchangeable for Common Stock owned either of record or beneficially (as
defined in the 1934 Act) by the undersigned on the date hereof or hereafter
acquired or (B) enter into any swap or other agreement that transfers, in
whole or in part, any of the economic consequences of ownership of the Common
Stock, whether any such transaction described in clause (A) or (B) above
is to be settled by delivery of Common Stock or such other securities, in cash
or otherwise, or publicly announce an intention to do any of the foregoing.

 

In furtherance
of the foregoing, the Company, and any duly appointed transfer agent for the
registration or transfer of the securities described herein, are hereby
authorized to decline to make any transfer of securities if such transfer would
constitute a violation or breach of this letter agreement.

 

Each of the
undersigned hereby represents and warrants that the undersigned has full power
and authority to enter into this letter agreement.  All authority herein conferred or agreed to
be conferred and any obligations of the undersigned shall be binding upon the
successors, assigns, heirs or personal representatives of the undersigned.

 

Each of the
undersigned understands that the Investors and the Company are entering into
the Purchase Agreement and proceeding with the transactions contemplated
thereby in reliance upon this letter agreement. 
The Investors are intended third party beneficiaries of this letter
agreement.

 

This Agreement
shall be governed by, and construed in accordance with, the internal laws of
the State of New York without regard to the choice of law principles thereof.

 

 

	
   

  	
  Very truly yours,

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Leonard P. Shaykin

  	
   

  
	
   

  	
  Leonard P. Shaykin

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Martin M. Batt

  	
   

  
	
   

  	
  Martin M. Batt

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Patricia A. Pilia

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Gordon Link

  	
   

  
	
   

  	
  Gordon Link

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Kai P. Larson

  	
   

  
	
   

  	
  Kai P. Larson

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Bruce W. Fiedler

  	
   

  
	
   

  	
  Bruce W. Fiedler

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Stephen K. Carter, M.D.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ George M. Gould

  	
   

  
	
   

  	
  George M. Gould

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Arthur H. Hayes, Jr.

  	
   

  

 

 

	
   

  	
   

  	
   

  
	
   

  	
  /s/ Elliot M. Maza

  	
   

  
	
   

  	
  Elliot M. Maza

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Richard N. Perle

  	
   

  
	
   

  	
  The Honorable Richard N. Perle

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Robert E. Pollack

  	
   

  
	
   

  	
  Robert E. PollackExhibit 10.1

 

Schedule

 

Following is the Amendment to Employment
Agreement Regarding Retiree Medical Benefits with Christopher J. Kearney.

 

Amendments were also executed by each of the
executives listed in the chart below.  Each Amendment is identical to the
following Amendment in all respects other than the parties thereto. 
Pursuant to Instruction 2 to Item 601 of Regulation S-K, only the Agreement
with Mr. Kearney is being filed, together with the following schedule setting
forth the names of the parties to the other Agreements.

 

	
   

  	
  Name

  
	
   

  	
   

  
	
   

  	
  Robert B. Foreman

  
	
   

  	
  Thomas J. Riordan

  
	
   

  	
  Patrick J. O’Leary

  

 

Amendment to
Employment Agreement

Regarding
Retiree Medical Benefits

 

This shall constitute an amendment to the Employment agreement dated February 23,
2005, (the “Agreement”) between Christopher J. Kearney (the “Executive”) and
SPX Corporation (“SPX”) pursuant to Section 9 of the Agreement, and shall
be effective as of the date set forth below.

 

WHEREAS, the Agreement specifies certain benefits to which the Executive
is entitled, but does not expressly provide for retiree medical benefits; and

 

WHEREAS, the parties wish to amend the Agreement to provide for such
benefits;

 

NOW, THEREFORE, for good and valuable consideration, the sufficiency of
which is hereby acknowledged, the parties agree as follows:

 

Section 4 shall be amended to include a new section (g) as
follows:

 

(g) Retiree
Medical.  The Executive shall be
entitled to receive retiree medical benefits in accordance with the eligibility
requirements and plan offerings for access to retiree medical benefits provided
generally to full-time employees of the Company.  The Executive may cover his spouse or
dependents eligible at the time of retirement. 
The cost of such benefits for the Executive, his spouse and eligible
dependents, will be 100% of the premiums and shall be reimbursed by the Company
on an annual basis.  Depending on the
plan, all or a portion of the reimbursement may be taxable.  Such benefits shall include prescription drug
coverage, but not dental or vision benefits unless included in the medical
plan.  Upon reaching Medicare eligibility
due to age, Medicare shall become

 

 

the primary payor of medical/prescription
benefits for the Executive, his spouse or eligible dependents as
applicable.  In the event that the
Company terminates retiree access to medical and/or prescription benefits
generally for retirees, the Executive shall be entitled to an annual
reimbursement from the Company upon proof of continued coverage for comparable
medical and/or prescription coverage under an individual policy or other group
policy, subject to a maximum total reimbursement of one and one-half times the
applicable premium of the plan in effect at the time retiree access is
terminated at the appropriate coverage level, and subject to maximum annual
inflation adjustment thereafter of five (5) percent.  Upon the death of the Executive, a surviving
spouse will continue eligibility and reimbursement as described above.  Surviving dependent children will not receive
premium reimbursement beyond the COBRA continuation period.  For all other COBRA qualifying events other
than the death of the Executive, reimbursement will cease upon commencement of
the COBRA continuation period.  The
Executive acknowledges and agrees that the benefit provided under this Section 4(g) replaces
any and all benefits the Executive may have been entitled to under the SPX
Corporation Retirement Health Plan for Top Management, if applicable.

 

IN WITNESS WHEREOF,
the parties have executed this Amendment effective as of the date set forth
below.

 

 

	
  EXECUTIVE ACCEPTANCE

  	
   

  	
  SPX CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Christopher J. Kearney

  	
   

  	
   

  	
  By:

  	
  /s/ Kevin Lilly

  	
   

  
	
   

  	
   

  	
   

  	
  Kevin Lilly

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
  Vice President, Secretary and

  
	
   

  	
   

  	
   

  	
  General Counsel

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date:

  	
  February 2,
  2006Exhibit 10.2

 

Schedule 

 

Following is the Amendment to Employment
Agreement Regarding Retiree Medical Benefits with Don Canterna.

 

An amendment
was also executed by the executive listed in the chart below.  Such
Amendment is identical to the following Amendment in all respects other than
the party thereto.  Pursuant to Instruction 2 to Item 601 of Regulation
S-K, only the Agreement with Mr. Canterna is being filed, together with
the following schedule setting forth the name of the party to the other
Agreement.

 

	
   

  	
  Name

  
	
   

  	
   

  
	
   

  	
  David Kowalski

  

 

Amendment to
Employment Agreement

Regarding
Retiree Medical Benefits

 

This shall constitute an amendment to the Employment agreement dated December 21,
2005, (the “Agreement”) between Don L. Canterna (the “Executive”) and SPX
Corporation (“SPX”) pursuant to Section 9 of the Agreement, and shall be
effective as of the date set forth below.

 

WHEREAS, the Agreement specifies certain benefits to which the
Executive is entitled, but does not expressly provide for retiree medical benefits;
and

 

WHEREAS, the parties wish to amend the Agreement to provide for such
benefits;

 

NOW, THEREFORE, for good and valuable consideration, the sufficiency of
which is hereby acknowledged, the parties agree as follows:

 

Section 4 shall be amended to include a new section (g) as
follows:

 

(g) Retiree
Medical.  The Executive shall be
entitled to receive retiree medical benefits in accordance with the eligibility
requirements and plan offerings for access to retiree medical benefits provided
generally to full-time employees of the Company.  The Executive may cover his spouse or
dependents eligible at the time of retirement. 
The cost of such benefits for the Executive, his spouse and eligible
dependents, will be 100% of the premiums and shall be reimbursed by the Company
on an annual basis up to the date the Executive reaches Medicare eligibility
due to age, at which point such reimbursement shall cease.  Depending on the plan, all or a portion of
the reimbursement may be taxable.  Such
benefits shall include prescription drug coverage, but not dental or vision
benefits unless included in the medical plan. 
Upon reaching Medicare eligibility due to age, Medicare shall become the
primary payor of medical/prescription benefits for the Executive, his spouse or
eligible dependents as applicable, and the reimbursement of

 

 

premiums
for such coverage by the Company shall cease. 
In the event that the Company terminates retiree access to medical
and/or prescription benefits generally for retirees, the Executive shall be
entitled to an annual reimbursement from the Company upon proof of continued
coverage for comparable medical and/or prescription coverage under an
individual policy or other group policy, subject to a maximum total
reimbursement of one and one-half times the applicable premium of the plan in
effect at the time retiree access is terminated at the appropriate coverage
level, and subject to maximum annual inflation adjustment thereafter of five (5) percent.  Upon the death of the Executive, a surviving
spouse will continue eligibility and reimbursement as described above.  Surviving dependent children will not receive
premium reimbursement beyond the COBRA continuation period.  For all other COBRA qualifying events other
than the death of the Executive, reimbursement will cease upon commencement of
the COBRA continuation period.

 

IN WITNESS WHEREOF,
the parties have executed this Amendment effective as of the date set forth
below.

 

 

	
  EXECUTIVE ACCEPTANCE

  	
   

  	
  SPX CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ Don L. Canterna

  	
   

  	
   

  	
  By:

  	
  /s/ Christopher J. Kearney

  	
   

  
	
   

  	
   

  	
   

  	
  Christopher J. Kearney

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date:

  	
  February 2,
  2006

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