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Exhibit 10.37  

 
 

CONFIDENTIAL PATENT LICENSE, SETTLEMENT,
  AND SPECIAL MUTUAL RELEASE AGREEMENT    
  

        This Confidential Patent License, Settlement, and Special Mutual Release Agreement is made as of March    , 2003, by and between DOV
Pharmaceutical, Inc., a Delaware corporation having its principal place of business at 433 Hackensack Avenue, Hackensack, New Jersey, U.S.A. 07601 ("DOV"), Biovail Laboratories Incorporated, a
Barbados corporation whose head office is located at Chelston Park, Building 2, Collymore Rock, St. Michael BH1, Barbados, West Indies ("Biovail Labs"), and Biovail Corporation, a Canadian corporation
whose head office is located at 7150 Mississauga Road, Mississauga, Ontario L5L 1J9, Canada ("Biovail"). 

 
 

Article I
  (Definitions and Background)    
  

1.1  Defined Terms.  

        The following terms, when used in capitalized form in this Agreement, shall have the meanings set forth below: 

        (a)  "2001 Agreement" means the License, Research and Development Agreement between DOV and Biovail Labs having an effective
date of January 12, 2001, as amended pursuant to the Amendment to License, Research and Development Agreement between DOV and Biovail Labs dated July 18, 2002. 

        (b)  "Affiliate" when used with reference to a Party means any entity controlling, controlled by or under common control with
such Party. For purposes hereof, "control" shall mean ownership, directly or indirectly, of more than 50% of the securities having the right to vote for
election of directors in the case of a corporation, and more than 50% of the beneficial interest in the capital in the case of an entity other than a corporation. Affiliate shall also include a joint
venture partner. 

        (c)  "Agreement" means this Confidential Patent License, Settlement, and Special Mutual Release Agreement, including all
schedules hereto; and "hereof," "hereto" and "hereunder"
and similar expressions mean and refer to this Agreement and not solely to any particular article or section hereof. 

        (d)  "Andrx" means Andrx Pharmaceuticals, Inc. 

        (e)  "Andrx Litigation" means the patent infringement action styled Biovail Laboratories, Inc.
v. Andrx Pharmaceuticals, Inc. (S.D. Fla. Case No. 01-6548). 

        (f)    "Best Efforts" means those efforts, including incurrence of expenses directed toward a determined objective, that would
be made by a reasonably prudent company acting in good faith and in the exercise of reasonable commercial judgment with reference to the practice, process and speed normally found in the
pharmaceutical industry. 

        (g)  "Cardizem LA" means the branded diltiazem-based pharmaceutical for the treatment of hypertension approved by the FDA on
February 7, 2003 under Biovail's NDA 21-392, and any other diltiazem based pharmaceutical product approved by the FDA under NDA 21-392, or any amendments or supplements
thereto. 

        (h)  "Confidential Information" means all information and data, in any form, including any information or data on chemical
structures, unpublished clinical trial results, diagnoses, mechanisms of action, analytical techniques, chemical syntheses, manufacturing processes, markets, customers, suppliers, patents or patent
applications, inventions, know-how, trade secrets, products, procedures, designs, formulas, business plans, financial projections, and other aspects of a Party's present or future
business, the secrecy of which confers a competitive advantage upon that Party or that is clearly marked by such Party as confidential. 

 

        (i)    "CTA" means Clinical Trial Authorization issued by the Therapeutic Products Directorate of Health Canada. 

        (j)    "DOV Intellectual Property" means the DOV Know-How, the DOV Patent and any discoveries, inventions,
formulations, processes, methods, techniques, know-how, formulae, compositions, compounds or applications, etc., relating to the DOV Know-How or the DOV Patent made by DOV or
Biovail or Biovail Labs, or licensed to Biovail or Biovail Labs, during the term of the 2001 Agreement. 

        (k)  "DOV Know-How" means all Confidential Information furnished by DOV to Biovail or to Biovail Labs pursuant to
Section 2.3 of the 2001 Agreement that is owned or controlled by or licensed (with right of or consent to sublicense) to DOV as of the date so furnished. 

        (l)    "DOV Patent" means that patent for extended release formulation of diltiazem hydrochloride, U.S. patent
no. 6,162,463, issued to Arnold Lippa on December 19, 2000, and assigned to DOV, any continuations, continuations in part, re-issues or extensions of that patent, and all
corresponding foreign patents and patent applications. 

        (m)  "DOV Royalty Product" means any Product in the Field for which DOV obtains Marketing Authorization. 

        (n)  "DOV Sublicensee" means any person sublicensed by DOV to Manufacture and/or Market a DOV Royalty Product. 

        (o)  "Effective Date" means the date on which this Agreement has been executed by all the Parties. 

        (p)  "FDA" means the United States Food and Drug Administration or any successor thereto. 

        (q)  "Field" means drug formulations for the treatment, including suppression of angina and hypertension, of any disease or
medical condition, except in the Tiazac Field. 

        (r)  "FTC" means the United States Federal Trade Commission. 

        (s)  "Guaranty" means the Guaranty entered into as of January 12, 2001 by and between Biovail in favor and for the
benefit of DOV. 

        (t)    "Limited Patent License" shall have the meaning set forth in Section 3.1. 

        (u)  "Manufacture" means to process, prepare, make, test, package, or label, and
"Manufacturing" and "Manufactured" have a corresponding meaning. 

        (v)  "Market" means to promote, distribute, test, market, advertise, sell, or offer to sell, and
"Marketing" and "Marketed" have a corresponding meaning. 

        (w)  "Marketing Authorization" means any authorization that is legally required under applicable laws, regulations, or
administrative decisions to Manufacture or Market the Product in any country including any governmental price approval or reimbursement approved under a national health insurance system. 

        (x)  "Net Sales" means the gross sales of all DOV Royalty Product sold by DOV, or DOV Sublicensees, and their respective
Affiliates as reflected in invoices issued by all such sellers during the period in question, but excluding sales by DOV, or an Affiliate of DOV to an Affiliate of DOV or to a DOV Sublicensee for
resale by such Affiliate or DOV Sublicensee, less: 

	(i)
	allowances,
chargebacks and credits to customers on account of rejection, return, withdrawal, or recall of DOV Royalty Product;

	(ii)
	regular
trade, quantity and cash discounts; 

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	(iii)
	deductions
of freight allowances and commissions;

	(iv)
	sales,
use, excise or value-added or other taxes imposed upon the sale of DOV Royalty Product; and

	(v)
	customs
and duties related to such sales. 

        (y)  "Party" means, as the context requires, DOV, Biovail Labs or Biovail, and
"Parties" means each of them. 

        (z)  "Product" means any extended release formulation of diltiazem using or based upon, directly or indirectly, the DOV
Intellectual Property and/or falling within the scope of the DOV Patent, but does not include any formulation of Cardizem CD (branded or generic), Tiazac (branded or generic), Dilacor XR generic, or
Cardizem LA, or any modifications to any of those products resulting solely from changes or variations in, or modifications to, the manufacturing processes by which any of them is made. 

        (aa)
"Supporting Data" means all data and information owned or controlled by Biovail and/or Biovail Labs relating to: 

	(i)
	the
pharmacological or toxicological properties of any Product;

	(ii)
	any
pre-clinical or clinical testing and experience in relation to any Product, including but not limited to the clinical treatment
authority records and all manufacturing and other information, including formulation and batch records, necessary for DOV to file a CTA to conduct a fed/fasted study of any Product that Biovail
and any of its Affiliates have worked to develop since the effective date of the 2001 Agreement and efficiently to secure the services of a formulation and production vendor;

	(iii)
	the
chemical composition, manufacturing processes and quality control testing of any Product; and

	(iv)
	all
other discoveries, inventions, formulations, processes, methods, know-how, techniques, formulae, compositions, compounds, or
applications, etc., relating to the DOV Patent made after the effective date of the 2001 Agreement. 

        (bb)
"Tiazac Field" means any extended release formulation of diltiazem that has been approved by the FDA for sale pursuant to NDA
20-401, or that is described in any ANDA for which approval is sought by referencing NDA 20-401. 

1.2  Background.  

	(a)
	DOV
is the owner of the entire right, title and interest to the DOV Patent. 

        (b)  Pursuant
to the terms and conditions of the 2001 Agreement, DOV granted to Biovail Labs an exclusive, worldwide license under the DOV Intellectual Property, including an
exclusive license to all substantial rights under the DOV Patent, to, inter alia, Manufacture and Market the product that was the subject of the 2001
Agreement in the Field. In consideration of those exclusive rights, Biovail Labs agreed to make certain payments to DOV as set forth in Article V of the 2001 Agreement. Pursuant to Articles
III, IV, and VI of the 2001 Agreement, each of Biovail Labs and DOV agreed to use its Best Efforts to formulate, research, clinically develop, manufacture, obtain marketing authorization and market
the Product on the terms set forth in the 2001 Agreement. Biovail and/or its Affiliates have invested more than $2,000,000 to develop a Product since the effective date of the 2001 Agreement. 

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        (c)  Pursuant
to the Guaranty, Biovail irrevocably and unconditionally guaranteed the full and punctual performance to DOV of all obligations of Biovail Labs in or arising
out of or relating to the 2001 Agreement. 

        (d)  On
April 5, 2001, Biovail Labs filed its complaint in the Andrx Litigation. Biovail asserted that Andrx's generic version of the formulation of Tiazac approved
pursuant to NDA 20-401 infringed the DOV Patent. Andrx asserted counterclaims against Biovail Labs concerning the validity of the DOV Patent. Biovail Labs and Andrx dismissed their
respective claims in the Andrx Litigation, and entered into a mutual release, in June 2002. Biovail has asserted that DOV is required to reimburse Biovail Labs pursuant to Section 7.7 of
the 2001 Agreement for all legal costs and expenses incurred by Biovail Labs in connection with the patent infringement litigation against Andrx, up to a maximum of $1.5 million. Biovail has
also asserted other claims against DOV arising under or relating to the 2001 Agreement and the DOV Patent. DOV has denied that it has any liability to Biovail. 

        (e)  On
July 9, 2001, the FTC issued a Resolution Authorizing Use of Compulsory Process in a Non-Public Investigation in File
No. 011-0094. Among other things, the nature and scope of the FTC investigation was to determine whether Biovail's acquisition of exclusive rights to the DOV Patent violated the
United States antitrust laws and whether Biovail, DOV, or any other person entered into the 2001 Agreement for the purpose of restricting entry into the generic market for any diltiazem-based
pharmaceutical product. DOV has asserted that Biovail is liable to indemnify DOV pursuant to Section 9.1 of the 2001 Agreement for all damages, losses, costs, or expenses (including reasonable
attorneys' and professional fees and other expenses) resulting from the FTC investigation. DOV has also asserted other claims against Biovail arising under or relating to the 2001 Agreement and the
DOV Patent. Biovail has denied that it has any liability to DOV. 

        (f)    The
Parties have now agreed to terminate the 2001 Agreement, to resolve fully all disputes concerning their respective rights and obligations thereunder (including but
not limited to the claims
for reimbursement and indemnification asserted by Biovail Labs and DOV, respectively), and to resolve fully all other claims that any Party may have against another Party arising under or relating to
the 2001 Agreement or the DOV Patent. Further, Biovail Labs desires, and DOV has agreed to grant to Biovail Labs, the Limited Patent License. 

        NOW
THEREFORE, in consideration of the promises and the mutual covenants hereinafter set forth, the Parties hereby agree as follows: 

 
 

Article II
  (Termination of the 2001 Agreement)    
  

2.1  Termination of 2001 Agreement.  

        (a)  The
2001 Agreement shall terminate immediately upon the Effective Date. Notwithstanding Section 12.4(e) of the 2001 Agreement, the Parties shall have no rights or
obligations under the following provisions of the 2001 Agreement: 

	(i)
	Section 12.4
(a) and (b);

	(ii)
	Section 7.3;

	(iii)
	Section 7.7;

	(iv)
	Article IX;

	(v)
	Article XIII;
and

	(vi)
	Article XIV.

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        (b)  The
license granted by DOV to Biovail Labs under the 2001 Agreement shall revert to DOV upon the Effective Date. 

        (c)  Upon
or after the Effective Date, the Parties may issue a press release in the form attached to this Agreement as Schedule 1. 

2.2  Transfer of Information Upon Termination.  

        (a)  As
soon as reasonably practicable, but in any event within thirty (30) business days after the Effective Date, each receiving Party shall return to each
disclosing Party all such disclosing Party's Confidential Information, or at the request of the disclosing Party, shall destroy such Confidential Information and shall certify such destruction in
writing to the disclosing Party. 

        (b)  As
soon as reasonably practicable, but in any event within thirty (30) business days after the Effective Date, Biovail and Biovail Labs shall return to DOV all
DOV Intellectual Property. 

        (c)  As
soon as reasonably practicable, but in any event within thirty (30) business days after the Effective Date, Biovail and Biovail Labs shall provide to DOV all
Supporting Data. 

2.3  Termination Payments by the Parties.  

        (a)  Within
five business days after the Effective Date, Biovail shall pay the amount of $47,789.40 to DOV in respect of Invoice No. 1166 dated December 31,
2002 and submitted by DOV to Biovail Labs on January 14, 2003. 

        (b)  In
consideration of the termination of the 2001 Agreement and the transfer of all Supporting Data by Biovail and Biovail Labs to DOV: 

	(i)
	Within
five business days after the Effective Date, DOV shall pay the amount of $1,000,000 to Biovail;

	(ii)
	Within
five business days after DOV receives Marketing Authorization for the first DOV Royalty Product, DOV shall make a one-time payment in
the amount of $3,000,000 to Biovail; and

	(iii)
	DOV
shall pay to Biovail a total royalty of up to $7,500,000, payable at the rate of 3% of the Net Sales of DOV Royalty Product until the total royalty
is paid by DOV. 

        (c)  DOV
shall not be obligated to make any payment to Biovail pursuant to Section 2.3(b)(ii) or (iii) hereof if DOV does not receive Marketing
Authorization for the DOV Royalty Product or does not realize such Net Sales. 

2.4  Reports and Errors.  

        (a)  Commencing
with the first commercial sale of a DOV Royalty Product, DOV shall deliver to Biovail, on or before the 60th day of each calendar quarter, the
royalty payment required by this Agreement, accompanied by a report signed by an authorized senior officer of DOV for that calendar quarter setting forth, in reasonable detail, and with itemized
deductions, the Net Sales of the DOV Royalty Product sold, used, or otherwise disposed of. DOV shall keep and shall cause its Affiliates or DOV Sublicencees to keep accurate records and books of
account of all DOV Royalty Product manufactured and sold. 

        (b)  Upon
10 days' prior notice to DOV and during normal business hours, but not more frequently than twice per year, Biovail may cause an independent auditor paid for
and selected by Biovail (which selection shall be reasonably acceptable to DOV) to inspect such records and books of 

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DOV and any DOV Affiliate or DOV Sublicensee marketing DOV Royalty Products at their respective facilities for the three-year period immediately preceding the date of inspection to verify
the correctness of the reports given to DOV under Section 2.4(a). Only one audit may be conducted in respect of any calendar quarter. The auditor's report shall be confined to the matters
required to be reported by DOV to Biovail pursuant to Section 2.4(a). If the auditor determines that actual Net Sales for the calendar quarter being examined exceeded 105% of Net Sales
reported, DOV shall reimburse Biovail for the costs of the audit. 

        (c)  If
such an audit determines that an error in the royalty calculation and payment by DOV has been made, Biovail shall immediately notify DOV of the nature of the error
and if (i) the error has resulted in an underpayment of royalty by DOV, it shall pay the balance due within 10 days of its receipt of notice from Biovail, and (ii) if the error
has resulted in an overpayment of royalty by DOV, Biovail shall so advise DOV, which may deduct it from the next quarterly payment, provided that if such overpayment exceeds $10,000, Biovail shall
within 10 days return the overpayment to DOV. 

2.5  Taxes.  

        DOV, if required so to do by any applicable tax law, may deduct any governmental withholding tax required to be deducted by it on payment of royalties under this
Agreement, but shall account to the relevant tax authorities for the sum so deducted and provide Biovail with proof of such payment from such authorities. DOV shall provide reasonable assistance to
Biovail in securing any benefits available to Biovail with respect to governmental tax withholdings by any relevant law or double tax treaty. 

2.6  Payments.

        All
payments hereunder shall be made in U.S. dollars and by wire transfer to a bank account designated by Biovail. For purposes of determining the amount of Net Sales during any calendar
quarter, all sales in each other currency during such quarter shall be converted into dollars at the rate in effect at the time such payment is due and payable hereunder, as then reported by the Wall
Street Journal. Any overdue amounts hereunder shall bear interest at the lesser of 8% per annum and the maximum legal interest rate. 

2.7  Biovail to Provide Assistance to Conduct a Fed/Fasted Study.  

        (a)  Notwithstanding
the termination of the 2001 Agreement, Biovail shall use its Best Efforts to assist DOV to file a CTA to conduct a single fed/fasted study of any
Product commencing in the second calendar quarter of 2003. 

        (b)  Biovail's
Best Efforts shall include, but not be limited to: 

	(i)
	providing
all clinical treatment authority records and manufacturing and other information in the possession of Biovail, Biovail Labs or a Biovail
Affiliate at the Effective Date and necessary to allow DOV to file such CTA;

	(ii)
	at
a customary and reasonable price, providing diltiazem in a form and quantity suitable to enable DOV to prepare a DOV Royalty Product for study use,
to prepare such CTA and to conduct such fed/fasted study; and

	(iii)
	permitting
DOV to engage Biovail's study facility, located in Toronto, Canada at Biovail's normal commercial rates to conduct such fed/fasted study. 

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Article III
  (Grant of Limited License)    
  

3.1  Grant of Limited, Non-Assignable, Non-Exclusive License to Biovail Labs.  

        (a)  Pursuant
to the terms and subject to the conditions of this Agreement, DOV hereby grants to Biovail Labs a limited, non-assignable, non-exclusive
worldwide license under the DOV Patent (the "Limited Patent License") to Manufacture and Market any once-daily controlled release formulation of diltiazem or a pharmaceutically active salt
thereof in the Field, provided that such formulation contains
a quantity of diltiazem or a pharmaceutically active salt thereof not exceeding 5% by weight that is released within two hours of administration. 

        (b)  Biovail
Labs shall have no rights under the Limited Patent License to Manufacture and Market any once-daily controlled release formulation of diltiazem or a
pharmaceutically active salt thereof that contains an immediate release component of diltiazem or a pharmaceutically active salt thereof that achieves a maximum release within one to two hours of
administration. 

        (c)  Biovail
Labs shall have no rights under the Limited Patent License to Manufacture and Market any once-daily formulation of any controlled release formulation
of diltiazem or a pharmaceutically active salt thereof containing an immediate release component of diltiazem or a pharmaceutically active salt thereof in an amount greater than 5% by weight. 

        (d)  Biovail
Labs shall have the right under the Limited Patent License to grant sublicenses to any Affiliate of Biovail, but shall otherwise have no rights under the Limited
Patent License to grant sublicenses to third parties under the DOV Patent. DOV shall have the exclusive right to enforce and defend, and Biovail Labs shall not initiate, maintain, or be a party to
(other than as a defendant), any legal action to enforce the DOV Patent. 

3.2  Royalties.  

        No royalties shall be payable by Biovail, Biovail Labs or any Biovail Affiliate under this Agreement in respect of the Manufacture or Marketing in the Field by
Biovail, Biovail Labs or any Biovail Affiliate of any once-daily controlled release formulation of diltiazem or a pharmaceutically active salt thereof that contains a quantity of diltiazem or a
pharmaceutically active salt thereof not exceeding 5% by weight that is released within two hours of administration. 

 
 

Article IV
  (Mutual Special Release)    
  

4.1  Special Release by Biovail and Biovail Labs.  

        (a)  In
consideration of the terms set forth in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and as
of the Effective Date, Biovail and Biovail Labs (including their respective present and former officers, directors, stockholders, employees, agents, attorneys, predecessors, successors, and assigns)
hereby release DOV (including its present and former officers, directors, stockholders, employees, agents, attorneys, predecessors, successors, and assigns) from any and all claims, actions, causes of
action, liabilities, damages, judgments, and demands of any kind, whether known or unknown, that Biovail or Biovail Labs had, have, may have, or ever claimed to have against DOV arising under or
relating to the DOV Patent or the 2001 Agreement (collectively, "Biovail's Released Claims"). Biovail's Released Claims shall include, but not be limited to, all claims for attorney's fees and costs. 

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        (b)  Biovail's
Released Claims shall not include claims based on a breach of this Agreement. 

4.2  Special Release by DOV.  

        (a)  In
consideration of the terms set forth in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and as
of the Effective Date, DOV (including its present and former officers, directors, stockholders, employees, agents, attorneys, predecessors, successors, and assigns) hereby releases Biovail and Biovail
Labs (including their respective present and former officers, directors, stockholders, employees, agents, attorneys, predecessors, successors, and assigns) from any and all claims, actions, causes of
action, liabilities, damages, judgments, and demands of any kind, whether known or unknown, that DOV had, has, may have, or ever claimed to have against Biovail arising under or relating to the 2001
Agreement (collectively, "DOV's Released Claims"). DOV's Released Claims shall include, but not be limited to, all claims for attorney's fees and costs. 

        (b)  DOV's
Released Claims shall not include claims based on a breach of this Agreement. 

 
 

Article V
  (Representations, Warranties, and Covenants)    
  

5.1  No Admission of Liability.  

        Neither this Agreement nor anything in this Agreement shall be construed to be an admission of liability or wrongdoing by any Party. The Parties further agree and
acknowledge that neither this Agreement, nor the terms thereof or negotiations relating thereto, shall be offered in evidence in any action or proceeding for any purpose whatsoever, except to enforce
the terms hereof or in any proceeding in which the terms of this Agreement are applicable. 

5.2  Understanding of This Agreement.  

        In entering into this Agreement, the Parties represent and warrant that they have relied on the advice of their respective attorneys and that the terms of this
Agreement have been completely read and explained to them by their attorneys, and that those terms are fully understood and accepted by them. The Parties hereto acknowledge that they and each of their
counsel have had adequate opportunity to make whatever investigation or inquiry that may be necessary or desirable in connection with the subject matter of this Agreement prior to the execution
hereof. 

5.3  Confidentiality of This Agreement.  

        The Parties agrees to keep this Agreement, the terms of this Agreement, and the terms of the negotiations leading to this Agreement completely confidential and
not to disclose any such matters to anyone, in words or in substance, except as required by lawful summons, subpoena, or other legal process, or otherwise by law or to the extent necessary to enforce
rights under this Agreement. Except as provided in Section 2.1(c) hereof, the Parties agree that any inquiries from third parties concerning the 2001 Agreement or the existence or terms of this
Agreement shall be answered only with the statement that "the Parties have resolved all differences between them." The Parties agree and covenant that, upon execution of the Settlement Agreement, each
will not disparage, ridicule, deprecate, condemn, criticize or malign the other Party or its business. 

5.4  Authority; Binding Effect; Legality  

        Each of the Parties hereto represents and warrants that (i) it has the requisite power and authority to execute and deliver this Agreement and the related
documents to which such Party is a signatory; 

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(ii) the execution and delivery of this Agreement by such Party has been duly authorized by all requisite action(s) and creates valid and binding obligations of such Party, enforceable in
accordance with its
terms; (iii) neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby or thereby will violate any constitution, statute, regulation,
rule, injunction, judgment, order, decree or other restriction of any governmental authority or conflict with, result in a breach of, or constitute a default under any contract, lease, license
instrument or other arrangement to which such Party is bound; and (iv) it is authorized to execute this agreement on behalf of its officers, directors, representatives, employees, agents,
affiliates, subsidiaries, attorneys, insurers, successors, predecessors and assigns. 

5.5  Warranty of Signatories  

        Each person who signs this Agreement in a representative capacity represents and warrants that he or she is duly authorized to do so. 

5.6  Effectuation of This Agreement.  

        The Parties agree and covenant to cooperate fully and to take all additional actions that may be necessary or appropriate to give full force to the terms and
intent of this Agreement and that are not inconsistent with its terms. 

 
 

Article VI
  (Other Provisions)    
  

6.1  Scope of Agreement.  

        This Agreement shall be binding upon and inure to the benefit of the Parties hereto as well as their administrators, trustees, receivers, conservators,
representatives, parents, subsidiaries, affiliates, successors and assigns. 

6.2  Entire Agreement.  

        This Agreement contains all the representations and warranties, express and implied, oral and written, between and among the Parties hereto, and the entire
understanding and agreement between and
among the Parties, with respect to the subject matter hereof. All prior and contemporaneous conversations, discussions, negotiations, proposed agreements and agreements, covenants, understandings,
representations or warranties with respect to the subject matter hereof are merged herein, waived, superseded and replaced in total by this Agreement. This Agreement is an integrated agreement and may
not be altered, amended, modified or otherwise changed in any respect whatsoever except in a written instrument executed by all Parties (or their successors-in-interest) that
expressly states that it is a modification or alteration of this Agreement. 

6.3  Enforcement.  

        This Agreement, and any claims and disputes arising out of or in connection with this Agreement or the transactions, conditions or performance contemplated
hereby, shall be governed by and construed in accordance with the laws of the State of New York without regard to its principles of conflicts of laws. Any judicial proceedings brought with respect to
this Agreement or otherwise arising between the Parties hereto shall be brought only in the United States District Court for the Southern District of New York. The Parties expressly consent to
jurisdiction in this forum. The Parties consent to service of process in any such action by certified mail addressed in accordance with paragraph 6.10 hereof, without prejudice to service of
process by any other means authorized by law. 

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6.4  Severability of Provisions.  

        In the event that any provision of this Agreement is determined by a court of competent jurisdiction to be unenforceable against any of the Parties hereto for any
reason or to any extent, this Agreement shall not be rendered void but any such provision or provisions shall be deemed amended to apply to the maximum extent as such court may judicially determine or
indicate to be enforceable. Alternatively, if the court finds that any provision in this agreement is unenforceable and such provision cannot be amended so as to make it enforceable in any application
or to any extent, all remaining provisions of this Agreement shall not be affected and shall be given full force and effect without regard to the invalid or unenforceable provision. 

6.5  Construction.  

        In any construction to be made of this Agreement, the same shall not be construed against any Party on the basis that the Party was the drafter. Rather, the
language of this Agreement shall in all cases be construed as a whole, according to its fair meaning and not strictly for or against any of the Parties. 

6.6  Counterparts.  

        This Agreement is executed in four counterparts, each bearing the signature of the Parties hereto, and shall take effect as a single agreement upon the execution
of the counterparts by each of the Parties. 

6.7  No Waiver of Breach.  

        No waiver of any breach of any term or provisions of this Agreement shall be construed to be, or shall be, a waiver of any other breach of this Agreement. No
waiver shall be binding unless in writing and signed by the Party waiving the breach. Failure to enforce, or delays in enforcing the terms of this Agreement against any breach thereof will not act as
a waiver of any such breaches or of any subsequent breaches. 

6.8  Sufficiency of Consideration.  

        The Parties acknowledge that the covenants contained in this Agreement can provide good and sufficient consideration for every promise, duty, release, obligation,
agreement and right contained in this Agreement. 

6.9  Binding Upon Signature; Survival.  

        This Agreement shall be binding upon the Parties when signed and delivered. The representations and warranties contained in this Agreement shall survive the
execution, delivery and consummation of this Agreement. 

6.10 Notices.  

        Except as may be otherwise provided in this Agreement, any notice, demand or request given, made or required to be made shall be in writing and shall be effective
when received after delivery by (a) registered air mail, postage prepaid; (b) facsimile with electronic confirmation of receipt; or (c) a reputable international courier such as
Federal Express or DHL at the addresses set forth below or to any other address that a Party specifies in writing. 

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If
to Biovail, to: 

Biovail
Laboratories Incorporated

Chelston Park, Building 2

Collymore Rock

St. Michael BH1

Barbados, West Indies

Attention: President 

and

Biovail
Corporation

7150 Mississauga Road

Mississauga, Ontario L5N 8M5

Attention:  Kenneth Cancellara

                    Senior Vice President and General Counsel. 

If
to DOV, to: 

DOV
Pharmaceutical, Inc.

433 Hackensack Avenue

Hackensack, New Jersey 07601

Attention: J. Robert Horton

                    General Counsel 

11

 

	 	 	DOV PHARMACEUTICAL, INC.
	

 	
 	
By:	

 
	 	 	 	
 Name: Arnold Lippa

Title: Chief Executive Officer
	

 	
 	
BIOVAIL LABORATORIES INCORPORATED
	

 	
 	
By:	

 
	 	 	 	
 Name: Eugene Melnyk

Title: President
	

 	
 	
BIOVAIL CORPORATION
	

 	
 	
By:	

 
	 	 	 	
 Name: Eugene Melnyk

Title: Chairman

12

QuickLinks

CONFIDENTIAL PATENT LICENSE, SETTLEMENT, AND SPECIAL MUTUAL RELEASE AGREEMENT

Article I (Definitions and Background)

Article II (Termination of the 2001 Agreement)

Article III (Grant of Limited License)

Article IV (Mutual Special Release)

Article V (Representations, Warranties, and Covenants)

Article VI (Other Provisions)QuickLinks
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Exhibit 10.1.4    
  

 
 

Exhibit A    
  

 
  SCHEDULE OF PARTNERS,
  ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
  AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS    
  

	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash

capital contribution
	 	Partnership

units issued
	 	Approx. Percentage

Interests
	 	Federal ID #

	2/12/1997	 	Golf Legends Ltd., Inc.

P.O. Box 2038

1500 Legends Drive

Myrtle Beach, SC 29578	 	$	30,647,030	 	1,532,352	 	 	 	57-0886834
	4/2/2001	 	Legends (conversion)	 	 	 	 	(294,613	)	 	 	 
	7/31/2001	 	Redemption at disposition	 	 	(14,852,868	)	(1,237,739	)	 	 	 
	7/31/2001	 	Residual Value	 	 	(15,794,162	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Golf Legends Ltd., Inc. Total	 	$	—	 	—	 	0.00	%	 
	

2/12/1997	
 	

Seaside Resorts Ltd., Inc.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

16,129,118	
 	

806,456	
 	

 	
 	

57-0729308
	7/31/2001	 	Redemption at disposition	 	 	(9,677,472	)	(806,456	)	 	 	 
	7/31/2001	 	Residual Value	 	 	(6,451,646	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Seaside Resorts Ltd., Inc. Total	 	$	—	 	—	 	0.00	%	 
	

2/12/1997	
 	

Heritage Golf Club, Ltd., Inc.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

16,031,230	
 	

801,561	
 	

 	
 	

57-0818596
	1/6/1999	 	Heritage (conversion)	 	 	 	 	(11,700	)	 	 	 
	7/31/2001	 	Redemption at disposition	 	 	(9,478,332	)	(789,861	)	 	 	 
	7/31/2001	 	Residual Value	 	 	(6,552,898	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Heritage Golf Club, Ltd., Inc. Total	 	$	—	 	—	 	0.00	%	 
	

2/12/1997	
 	

Legends of Virginia L.C.

1500 Legends Drive

Myrtle Beach, SC 29578	
 	
$	

11,963,738	
 	

598,187	
 	

 	
 	

57-1003883
	4/2/2001	 	Legends (conversion)	 	 	 	 	(598,187	)	 	 	 
	7/31/2001	 	Residual Value	 	 	(11,963,738	)	 	 	0.00	%	 
	 	 	 	 	
	 	
	 	
	 	 
	 	 	Legends of Virginia L.C. Total	 	$	—	 	—	 	 	 	 
	

2/12/1997	
 	

Northgate

16055 Northgate Forest Drive

Houston, TX 77068	
 	
$	

3,797,071	
 	

189,854	
 	

 	
 	

76-0527250
	5/20/1998	 	Northgate (redemption)	 	 	(158,969	)	(5,000	)	 	 	 
	1/6/1999	 	Northgate (conversion)	 	 	—	 	(30,000	)	 	 	 
	3/2/2001	 	Northgate (conversion)	 	 	 	 	(60,581	)	 	 	 
	3/26/2002	 	Northgate (redemption)	 	 	(534,999	)	(94,273	)	 	 	 
	3/26/2002	 	Residual Value	 	 	(3,103,103	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	
	 	 
	 	 	Northgate Total	 	$	—	 	0	 	0.00	%	 

 
 

Exhibit A    
  

 
 

SCHEDULE OF PARTNERS,
  ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
  AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS    
  

	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash

capital contribution
	 	Partnership

units issued
	 	Approx. Percentage

Interests
	 	Federal ID #

	2/12/1997	 	Olde Atlanta Golf Club Limited Partnership

c/o The Crescent Company

1580 S. Milwaukee Ave.,

Suite 101

Libertyville, IL 60048	 	$	1,444,926	 	72,246	 	 	 	36-3834881
	4/13/1998	 	Olde Atlanta (redemption)	 	 	(62,838	)	(2,000	)	 	 	 
	5/20/1998	 	Olde Atlanta (redemption)	 	 	(64,018	)	(2,000	)	 	 	 
	8/21/1998	 	Olde Atlanta (redemption)	 	 	(52,388	)	(1,500	)	 	 	 
	12/10/1998	 	Olde Atlanta (redemption)	 	 	(30,166	)	(1,150	)	 	 	 
	1/20/1999	 	Olde Atlanta (redemption)	 	 	(66,079	)	(2,500	)	 	 	 
	4/6/1999	 	Olde Atlanta (conversion)	 	 	—	 	(2,000	)	 	 	 
	5/1/1999	 	Olde Atlanta (recapitalization)	 	 	683,967	 	30,826	 	 	 	 
	5/27/1999	 	Olde Atlanta (conversion)	 	 	 	 	(2,000	)	 	 	 
	7/15/1999	 	Olde Atlanta (conversion)	 	 	 	 	(3,500	)	 	 	 
	1/10/2000	 	Olde Atlanta (conversion)	 	 	 	 	(3,300	)	 	 	 
	1/26/2000	 	Olde Atlanta (conversion)	 	 	 	 	(4,100	)	 	 	 
	4/28/2000	 	Olde Atlanta (correction from 3/24/99)	 	 	 	 	2,000	 	 	 	 
	8/14/2000	 	Olde Atlanta (conversion)	 	 	 	 	(10,600	)	 	 	 
	7/9/2001	 	Redemption at disposition	 	 	(757,037	)	(70,422	)	 	 	 
	7/9/2001	 	Residual Value	 	 	(1,096,369	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Olde Atlanta Total	 	$	—	 	—	 	0.00	%	 
	

2/12/1997	
 	

Bright's Creek Development Co. LLC

104 Cotton Creek Drive

Gulf Shores, AL 36542	
 	
$	

2,119,005	
 	

105,950	
 	

 	
 	

63-1120089
	5/1/2001	 	Redemption at disposition	 	 	(1,271,400	)	(105,950	)	 	 	 
	5/1/2001	 	Residual Value	 	 	(847,605	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	

 	
 	

Bright's Creek Development Co. LLC Total	
 	
$	

—	
 	

—	
 	

0.00	
%	

 
	

10/31/1996	
 	

David Dick Joseph

14 North Adger's Wharf

Charleston, SC 29401	
 	
$	

—	
 	

12,500	
 	

0.00	
%	

###-##-####
	12/14/1999	 	David Dick Joseph (conversion)	 	 	 	 	(12,500	)	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	David Dick Joseph Total	 	$	—	 	—	 	—	 	 

 
 

Exhibit A    
  

 
 

SCHEDULE OF PARTNERS,
  ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
  AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS    
  

	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash

capital contribution
	 	Partnership

units issued
	 	Approx. Percentage

Interests
	 	Federal ID #

	2/4/1997	 	W. Bradley Blair, II

14 North Adger's Wharf

Charleston, SC 29401	 	$	—	 	12,500	 	0.00	%	 
	12/31/2002	 	W. Bradley Blair, II (conversion)	 	 	 	 	(12,500	)	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	W. Bradley Blair, II Total	 	$	—	 	—	 	 	 	 
	

2/4/1997	
 	

James Hoppenrath

4221/2 Marguerite Ave.

Corona Del Mar CA 92625	
 	
$	

—	
 	

3,750	
 	

0.00	
%	

###-##-####
	1/6/2000	 	James Hoppenrath (conversion)	 	 	 	 	(3,750	)	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	James Hoppenrath Total	 	$	—	 	—	 	 	 	 
	

6/20/1997	
 	

Golf Host Resorts, Inc.

c/o Starwood Capital Group, LP

Three Pickwick Plaza, Suite 250

Greenwich, CT 06830	
 	
$	

—	
 	

274,039	
 	

0.00	
%	

84-0631130
	3/3/2000	 	Golf Host (conversion)	 	 	 	 	(274,039	)	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Golf Host Resorts, Inc. Total	 	$	—	 	—	 	 	 	 
	

9/2/1997	
 	

John J. Rainieri, Sr.

Betty Rainieri

4350 Mayfair Road

Uniontown, OH 44685	
 	
$	

3,198,168	
 	

114,237	
 	

 	
 	

###-##-####

###-##-####
	1/4/2001	 	Redemption at disposition	 	 	(910,632	)	(75,886	)	 	 	 
	5/16/2001	 	Redemption at disposition	 	 	(460,212	)	(38,351	)	 	 	 
	5/16/2001	 	Residual Value	 	 	(1,827,324	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	John J. Rainieri, Sr. Total	 	$	—	 	0	 	0.00	%	 
	

9/2/1997	
 	

Raintree Country Club, Inc.

4350 Mayfair Road

Uniontown, OH 44685	
 	
$	

204,138	
 	

7,292	
 	

0.00	
%	

34-1736212
	1/4/2001	 	Raintree (redemption at disposition)	 	 	(87,504	)	(7,292	)	 	 	 
	1/4/2001	 	Residual Value

(Value at Issue—Value at Redemption)	 	 	(116,634	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Raintree Country Club, Inc. Total	 	$	—	 	—	 	0.00	%	 

 
 

Exhibit A    
  

 
 

SCHEDULE OF PARTNERS,
  ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
  AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS    
  

	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash

capital contribution
	 	Partnership

units issued
	 	Approx. Percentage

Interests
	 	Federal ID #

	9/30/1997	 	Eagle Watch Golf Club, Limited Partnership

c/o E. Neal Trogdon

The Crescent Company

1580 South Milwaukee Avenue, Suite 101

Libertyville, IL 60048	 	$	1,890,682	 	70,158	 	 	 	36-3903287
	11/2/1998	 	Eagle Watch (redemption)	 	 	(64,199	)	(2,150	)	 	 	 
	5/21/1999	 	Eagle Watch (conversion)	 	 	 	 	(1,250	)	 	 	 
	4/28/2000	 	Eagle Watch (correction from 3/24/99)	 	 	 	 	(2,000	)	 	 	 
	7/9/2001	 	Redemption at disposition	 	 	(696,149	)	(64,758	)	 	 	 
	7/9/2001	 	Residual Value	 	 	(1,130,335	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Eagle Watch Total	 	$	—	 	—	 	0.00	%	 
	

10/17/1997	
 	

Properties of the Country, Inc.

102 West Crestview Circle, Suite 100

Louisburg, KS 66053	
 	
$	

500,000	
 	

19,231	
 	

 	
 	

48-1157265
	3/16/2001	 	Redemption at disposition	 	 	(230,772	)	(19,231	)	 	 	 
	3/16/2001	 	Residual Value	 	 	(269,228	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Properties of the Country, Inc. Total	 	$	—	 	—	 	0.00	%	 
	

11/25/1997	
 	

Granite Golf Corporation

1510 N. Hayden Road, Suite 7

Scottsdale, AZ 85260	
 	
$	

650,000	
 	

24,424	
 	

 	
 	

86-0926890
	7/2/1999	 	Granite Golf (redemption)	 	 	(200,257	)	(8,393	)	 	 	 
	7/27/1999	 	Granite Golf (redemption)	 	 	(237,935	)	(10,354	)	 	 	 
	8/13/1999	 	Granite Golf (redemption)	 	 	(125,746	)	(5,677	)	 	 	 
	8/13/1999	 	Residual Value	 	 	(86,062	)	 	 	 	 	 
	 	 	(Value at Issue—Value at Redemption)	 	 	—	 	—	 	0.00	%	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Granite Golf Corporation Total	 	$	—	 	—	 	 	 	 
	

12/19/1997	
 	

Stonehenge Golf Development, LLC

90 Mallet Hill Road

Columbia, SC 29223	
 	
$	

4,500,000	
 	

169,811	
 	

 	
 	

56-2027442
	1/10/2000	 	Stonehenge Golf (conversion)	 	 	 	 	(50,000	)	 	 	 
	6/20/2000	 	Stonehenge Golf (conversion)	 	 	 	 	(25,471	)	 	 	 
	3/26/2002	 	Stonehenge Golf (conversion)	 	 	 	 	(94,340	)	 	 	 
	8/13/1999	 	Equity Reclass	 	 	(4,500,000	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Stonehenge Golf Development, LLC Total	 	$	—	 	—	 	0.00	%	 

 
 

Exhibit A    
  

 
 

SCHEDULE OF PARTNERS,
  ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
  AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS    
  

	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash

capital contribution
	 	Partnership

units issued
	 	Approx. Percentage

Interests
	 	Federal ID #

	1/16/1998	 	Mystic Creek Golf Club, Limited Partnership

1303 West Commerce Road

Milford, MI 48380	 	$	1,500,000	 	52,724	 	0.00	%	38-3187304
	9/20/2002	 	Mystic Creek (redemption)	 	 	(91,792	)	(52,724	)	 	 	 
	9/20/2002	 	Residual Value

(Value at Issue—Value at Redemption)	 	 	(1,408,208	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Mystic Creek Golf Club Total	 	$	—	 	—	 	 	 	 
	

2/1/1998	
 	

Okeechobee Championship Golf, Inc.

2100 Emerald Dunes Drive

West Palm Beach, FL 33411	
 	
$	

6,138,369	
 	

227,347	
(1)	

0.00	
%	

65-0115196
	9/7/2001	 	Redemption at disposition	 	 	(2,289,924	)	(218,088	)	 	 	 
	9/7/2001	 	Residual Value

(Value at Issue—Value at Redemption)	 	 	(3,598,452	)	 	 	 	 	 
	9/10/2002	 	Cancelled	 	 	—	 	(9,259	)	 	 	 
	9/10/2002	 	Residual Value

(Value at Issue—Value at Redemption)	 	 	(249,993	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Okeechobee Championship Golf, Inc. Total	 	$	—	 	—	 	 	 	 
	

 	
 	

 	
 	
 	

 	
 	

 	
 	

 	
 	

 

	(1)
	Includes 218,088 Class A Common Units issued with a valuation of $5,888,376 and 9,259 Class B Common OP Units issued with a valuation of $249,993 

	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash

capital contribution
	 	Partnership

units issued
	 	Approx. Percentage

Interests
	 	Federal ID #

	

5/22/1998	
 	

Eagle Ridge Lease Company LLC

16100 N. Greenway-Hayden Loop

Scottsdale, AZ 85260	
 	
$	

1,198,750	
 	

35,794	
 	

0.45	
%	

52-2099405
	

5/28/1998	
 	

Golf Classic Resorts, LLC

536 South Avenue

Glencoe, IL 60022	
 	
$	

879,995	
 	

26,357	
 	

0.00	
%	

85-0453484
	11/26/1999	 	Golf Classic Resorts (redemption)	 	 	(199,633	)	(11,577	)	 	 	 
	12/31/1999	 	Golf Classic Resorts (redemption)	 	 	(34,517	)	(2,060	)	 	 	 
	2/7/2000	 	Golf Classic Resorts (redemption)	 	 	(221,408	)	(12,720	)	 	 	 
	2/7/2000	 	Residual Value

(Value at Issue—Value at Redemption)	 	 	(424,437	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Golf Classic Resorts, LLC Total	 	$	—	 	—	 	 	 	 
	

8/28/1998	
 	

Osage National Golf Club LLC

900 Hickory Street

St. Louis, MO 63104	
 	
$	

3,451,068	
 	

124,700	
 	

 	
 	

43-1735431
	6/30/1999	 	Osage (Redemption)	 	 	(1,393,382	)	(58,576	)	 	 	 
	6/20/2000	 	Osage (Redemption)	 	 	(1,055,101	)	(66,124	)	 	 	 
	6/20/2000	 	Residual Value

(Value at Issue—Value at Redemption)	 	 	(1,002,585	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Osage National Golf Club LLC Total	 	$	—	 	—	 	0.00	%	 

 
 

Exhibit A    
  

 
 

SCHEDULE OF PARTNERS,
  ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS
  AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS    
  

	Date

Admitted
	 	Name and address of partners
	 	Value of non-cash

capital contribution
	 	Partnership

units issued
	 	Approx. Percentage

Interests
	 	Federal ID #

	12/14/1998	 	Brentwood Golf & Country Club, Inc.

4801 Faircourt, West Bloomfield, MI 48322

PO Box 386, Union Lake, MI 48387	 	$	650,000	 	24,482	 	0.00	%	38-3148750
	6/20/2000	 	Brentwood (Redemption)	 	 	(390,645	)	(24,482	)	 	 	 
	6/20/2000	 	Residual Value	 	 	(259,355	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Brentwood Golf & Country Club, Inc. Total	 	$	—	 	—	 	 	 	 
	

12/22/1998	
 	

Gutta-Percha Golf, Inc.

365 W. California Blvd. Suite 2

Pasadena, CA 91105	
 	
$	

870,000	
 	

32,986	
 	

0.00	
%	

95-4493507
	9/5/2000	 	Palm Desert (Redemption)	 	 	(460,785	)	(32,986	)	 	 	 
	9/5/2000	 	Residual Value	 	 	(409,215	)	 	 	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Gutta-Percha Golf, Inc. Total	 	$	—	 	—	 	 	 	 
	

2/4/1997	
 	

GTA LP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	
 	
$	

—	
 	

7,868,789	
 	

99.34	
%	

58-2290326
	2/4/1997	 	GTA GP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	 	$	—	 	16,154	 	0.20	%	58-2290217
	

Total Common OP Units	
 	
 	

 	
 	

7,920,737	
 	

100.00	
%	

 
	
Series A Preferred OP Units
	4/2/1999	 	GTA LP, Inc.

14 North Adger's Wharf

Charleston, SC 29401	 	$	20,000,000	 	800,000	 	100	%	 
	
Series B Preferred OP Units
	5/11/1999	 	Metamora Golf Operating Company, L.L.C.

c/o Total Golf, Inc.

1303 W. Commerce Drive

Milford, MI 48380	 	$	295,003	 	10,169	 	 	 	38-3462287
	9/25/2000	 	Redemption at Disposition	 	 	(295,003	)	(10,169	)	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Metamora Golf Operating Company, L.L.C.	 	$	—	 	—	 	0.00	%	 
	
Series C Preferred OP Units
	7/28/1999	 	Burning Embers Corporation

801Aaron Smith Drive

Bridgeport, WV 26330	 	$	1,350,000.00	 	48,949	 	 	 	55-0720833
	6/20/2001	 	Redemption (foreclosure on collateral)	 	 	(1,350,000	)	(48,949	)	 	 	 
	 	 	 	 	
	 	
	 	 	 	 
	 	 	Burning Embers Corporation Total	 	$	—	 	—	 	0.00	%	 

QuickLinks

Exhibit 10.1.4

Exhibit A

SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS

Exhibit A

SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS

Exhibit A

SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS

Exhibit A

SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS

Exhibit A

SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS

Exhibit A

SCHEDULE OF PARTNERS, ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE INTERESTS AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS

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