Document:

Third Amendment to the Preferred Stock Rights Agreement

 Exhibit 4.2 
 THIRD AMENDMENT 
 TO THE 

PREFERRED STOCK RIGHTS AGREEMENT 
 THIS THIRD AMENDMENT TO THE PREFERRED STOCK RIGHTS AGREEMENT
(this “Third Amendment”), dated as of January 12, 2012, by and between ISTA Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and Computershare Trust Company, N.A., as successor rights agent
(the “Rights Agent”), amends that certain Preferred Stock Rights Agreement, dated as of December 31, 2001, as subsequently amended, by and between the Company and the Rights Agent, as successor rights agent (the “Rights
Agreement”). 
 WHEREAS, on January 12, 2012, the Board of Directors resolved
to amend the Rights Agreement as set forth below; 
 WHEREAS, Section 27 of the Rights
Agreement provides that prior to the Distribution Date (as defined in the Rights Agreement), the Company may supplement or amend the Rights Agreement in any respect without the approval of any holders of Rights; and 

WHEREAS, the Distribution Date has not yet occurred. 

NOW, THEREFORE, in accordance with the procedures for amendment of the Rights
Agreement set forth in Section 27 thereof, and in consideration of the foregoing and the mutual agreements herein set forth, the parties hereby agree as follows: 
 1. Section 1(p) of the Rights Agreement is hereby amended and restated in its entirety to read as follows: 
 “(p) ‘Expiration Date’ shall mean the earliest to occur of: (i) 11:58 p.m. New York time on the Final Expiration Date, (ii) the Redemption Date, or (iii) the time at
which the Board of Directors orders the exchange of the Rights as provided in Section 24 hereof.” 
 2.
Section 1(q) of the Rights Agreement is hereby amended and restated in its entirety to read as follows: 
 “(q)
‘Final Expiration Date’ shall mean January 12, 2012.” 
 3. Except as expressly set forth
herein, this Third Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Rights Agreement, all of which are ratified and affirmed
in all respects and shall continue in full force and effect. Except as expressly amended hereby, the Rights Agreement remains in full force and effect in accordance with its terms. 

4. This Third Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be
deemed an original, and all such counterparts shall 

 
together constitute but one and the same instrument. A signature to this Third Amendment transmitted electronically shall have the same authority, effect, and enforceability as an original
signature. 
 5. Capitalized terms used herein but not defined shall have the meanings given to them in the Rights
Agreement. 
 6. The Company hereby certifies to the Rights Agent that this Third Amendment is in compliance with
Section 27 of the Rights Agreement. 
 [SIGNATURE PAGE FOLLOWS] 

  
 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to the Preferred
Stock Rights Agreement to be duly executed as of the day and year first written above. 
  

			
	 ISTA PHARMACEUTICALS, INC.,
 a Delaware corporation

		
	By:	 	 /s/ Vicente Anido, Jr.

	Name:	 	 Vicente Anido, Jr.

	Its:	 	 President and Chief Executive Officer

  

			
	 COMPUTERSHARE TRUST COMPANY,
 N.A.,
 as Rights Agent

		
	By:	 	 /s/ Ian Yewer

	Name:	 	 Ian Yewer

	Its:	 	Branch ManagerExhibit 10.1

 EXHIBIT 10.1 
 GRUBB & ELLIS COMPANY 
 1551 N. Tustin Ave., Suite 300, 

Santa Ana, CA 92705 
  

					
		  	January 16, 2012	  	

 BGC Partners, L.P. 
 499 Park Avenue 
 New York, New York, 10022 

Attn: Michael Lehrman 
 Re: Exclusivity Agreement 
 Ladies and Gentlemen: 

The undersigned (together with its affiliates, the “Interested Party”) has advised Grubb &
Ellis Company (the “Company”), that it is potentially willing to pursue a financing transaction whereby the Interested Party would extend to the Company and/or one or more of its direct and indirect subsidiaries, a term loan for the
purpose of, among other things, refinancing the Company’s existing senior indebtedness and providing additional working capital. In consideration of the due diligence investigation of the Company that the Interested Party and its affiliates
intend to undertake, the Company hereby agrees that it shall, and that it shall cause its subsidiaries and its and its subsidiaries’ officers, directors, employees, agents, affiliates and representatives (including, without limitation, any
investment banking, legal or accounting firm or other advisor and any individual member or employee of the foregoing) (collectively, the “Representatives”), during the “Exclusivity Period” (as hereinafter defined), to work
exclusively with the Interested Party and its representatives with respect to a potential debt financing transaction and/or an alternative equity financing transaction, acquisition, recapitalization, asset sale or other strategic transaction (a
“Transaction”) and not to, directly or indirectly, continue, solicit or initiate or enter into any discussions, negotiations or transactions with, reply to or encourage, or provide any information, written or verbal to, any
individual, corporation, partnership or other entity or group (other than the Interested Party and its representatives) concerning any financing arrangement or the acquisition of the Company or any of its subsidiaries or any equity interest therein
or all or any substantial portion of any of their assets, whether through direct purchase, merger, consolidation or other business combination or similar transaction involving the Company or any of its subsidiaries or any of their respective assets
(singly or collectively, a “Competing Transaction”). The Company represents that neither it nor any of its affiliates nor, to the best of its knowledge, any of its officers or directors is party to or bound by any agreement with
respect to any Competing Transaction. 
 For purposes of this letter agreement, the term “Exclusivity
Period” means the period commencing on January 16, 2012 and ending at 5:00 p.m. Eastern Time on January 31, 2012. 

 Grubb & Ellis Company 
 January 16, 2012 
 Page 2 

During the Exclusivity Period, the Company and its affiliates shall cooperate with the Interested Party and its
representatives in facilitating discussions with any Representatives, creditors and preferred stockholders of the Company to the extent such communications are deemed reasonable by the Company and in furtherance of a Transaction. 

The Company acknowledges that any breach or violation of the no-shop provisions of this letter agreement cannot be
sufficiently remedied by money damages alone and, accordingly, the Interested Party will be entitled, in addition to damages and any other remedies provided by law, to specific performance, injunctive and other equitable relief respecting any such
violation. In addition, in the event of any violation of such provisions of this letter agreement, the Company shall reimburse the Interested Party for all costs and expenses, including attorneys’ fees and disbursements, incurred in order to
enforce such provisions or exercise any remedies for a violation thereof. 
 It is agreed that any
communications and information obtained by the Interested Party pursuant to this letter agreement or in connection with the pursuit or diligence of a possible Transaction shall be bound by the terms of the Confidentiality Agreement, dated as of
July 5, 2011 and as amended today, January 16, 2012 (the “Confidentiality Agreement”), between the Company and the Interested Party and, accordingly, (i) the restrictions contained in the Confidentiality Agreement
concerning “Confidential Information” (as defined therein) are hereby incorporated by reference into this letter agreement as if fully set forth herein, (ii) for the avoidance of doubt, the term “Confidential Information” as
used therein shall also be deemed to include all communications, information and materials obtained from the Company or its Representatives, creditors and preferred stockholders pursuant to this letter agreement or in connection with the Interested
Party’s pursuit or diligence of a possible Transaction except to the extent such communications, information and materials would be excluded from the purview of Confidential Information pursuant to the terms of the Confidentiality Agreement and
(iii) a breach by the Interested Party of the terms of the Confidentiality Agreement that are incorporated by reference into this letter agreement shall be deemed a breach by the Interested Party of this letter agreement. 

This letter agreement, when executed by the Interested Party, shall constitute a binding obligation of each of the
undersigned with respect to the matters set forth herein and shall inure to the benefit of the parties and their respective successors and assigns, provided, that, this letter agreement shall not constitute a binding obligation on any
party to enter into or otherwise consummate a Transaction. This letter agreement may be amended only with the written approval of all parties hereto. This letter agreement shall be governed by and construed in accordance with the laws of the State
of New York without giving effect to such State’s conflict of laws provisions. Each of the parties hereto irrevocably consents to the exclusive jurisdiction and venue of the Federal and State courts located in the State of New York, County of
New York and waives the right to a jury trial. This letter agreement may be signed in original, facsimile or electronic counterparts, all of which will constitute the same agreement. 

[Remainder of page left intentionally blank] 

 Please indicate your agreement with the terms of this letter agreement by
countersigning a copy hereof and returning such counterpart to the attention of the Company. 
  

			
	Very truly yours,
	
	GRUBB & ELLIS COMPANY
		
	By:	 	/s/ Thomas D’Arcy         
		 	Name: Thomas D’Arcy
		 	Title: President and CEO

  

			
	 ACCEPTED AND AGREED

AS OF THIS 16th DAY OF
 JANUARY
2012:

	
	BGC PARTNERS, L.P.
		
	By:	 	/s/Michael Lehrman         
		 	Name: Michael Lehrman
		 	Title:

 Signature Page to Exclusivity Agreement between Grubb & Ellis Company and BGC Partners, L.P.

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