Document:

Exhibit
4.3

 

GUARANTEE

 

In consideration of the loan evidenced by the
promissory note of Quality Products, Inc., a Delaware cor­poration (the
“Borrower”), dated April 16, 2003 payable to the order of the Lenders listed in
Exhibit A to this Guarantee, (the “Beneficiaries”), in the principal amount of
seven hundred seventy thousand and no/100 United States dollars (U.S.$770,000),
bearing interest at the rate of 8% per
annum simple interest and payable in 60 monthly installments with the
last installment due on March 31, 2008 (the “Note”, which term will include any
and all amendments thereto and substitutions therefor hereafter made and re­gardless
of whether they are made with or without the approval of the undersigned), and
in order to induce the Beneficiaries to make the loan evidenced by the Note,
the undersigned hereby jointly and severally,
unconditionally and irrevocably guarantee payment when due of any and all
amounts owing under the Note.

 

Waiver of
Defenses of Guarantor - The
obligations of the undersigned shall not be impaired, diminished or discharged,
in whole or in part, by any extension of time granted by the holder of the
Note, by any course of dealing between the holder of the Note, any other
Lender, and the Borrower, by the unenforce­ability of the Note, in whole or in
part, for any reason whatsoever, by the release of any guarantor or other
obligor or any collateral, or by any other act, omission, event or circumstance
which might operate to dis­charge a guarantor in whole or in part or which might
operate as a defense, in whole or in part, to any ob­ligation of a guarantor or
which might invalidate, in whole or in part, a guarantee.

 

Bankruptcy
Provision; Expenses - The
undersigned jointly and severally
agree to pay on demand by the holder (a) any amount which any Lender on the
Note is required to pay under any bankruptcy, insolvency or other similar law
on account of any amount received by any Lender under or with respect to the
Note or this guarantee, (b) all reasonable expenses (including, without
limitation, legal fees and disbursements) incurred by Lenders in connection
with the negotiating and preparing this guarantee, and (c) all reasonable
expenses of collecting and enforcing this guarantee including, without
limitation, expenses and fees of legal counsel, court costs and the cost of
appellate proceedings.  If any amount
owing under this paragraph is not paid within three days of the date of the
demand, then the undersigned jointly and
severally agree to pay interest thereon at the rate of 10% per annum compounded daily from the later
of the date of the de­mand or the date on which any Lender under the Note pays
or expends the amount demanded until the date the undersigned pays such amount
to the Lender.

 

Where to Make
Payment - All payments
under this guarantee shall be made in lawful currency of the United States of
America in immediately available funds at the addresses listed in Exhibit A for
each Lender, or in such other manner or at such other place as the holder of
the Note designates in writing.

 

Governing Law -
This guarantee and the
obligations of the undersigned shall be governed by and con­strued in
accordance with the law of the State of Ohio, U.S.A.

 

Waiver of
Presentment, Etc. - The
undersigned waives presentment for payment, demand, protest, and notice of
protest and of non-payment.

 

Remedies: Order
of Pursuit - This is a
guarantee of payment and not of collection. 
The holder of the Note shall not be required to resort to or pursue any
of its rights or remedies under or with respect to any other agreement or any
other collateral before pursuing any of its rights or remedies under this
guarantee.  The holder of the Note may
pursue its rights and remedies in such order as it determines, and the exercise
by the holder of the Note of any right or remedy will not preclude its exercise
of any other right or remedy.

 

1

 

April 16, 2003

 

The holder of
the Note may pursue any of its rights or remedies under this guarantee against
any of the undersigned without pursuing any of its rights or remedies against
any of the other undersigned.

 

Delay and
Waiver - The failure or
delay by the holder of the Note in exercising any of its rights here­under in
any instance shall not constitute a waiver thereof in that or any other
instance.  The holder of the Note may
not waive any of its rights except by an instrument in writing signed by it.

 

Amendment - This guarantee may not be amended without the
written approval of the holder of the Note.

 

This guarantee will inure to the benefit of any
Lender of the Note.

 

	
  Date: April 16, 2003

  	
  QPI MULTIPRESS, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/Tac D. Kensler

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Chief Financial Officer

  	
   

  
	
   

  	
  Name and Title

  	
   

  
				

 

	
  Date: April 16, 2003

  	
  COLUMBUS JACK
  CORPORATION

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/Tac D. Kensler

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Chief Financial Officer

  	
   

  
	
   

  	
  Name and Title

  	
   

  
				

 

HOLDER

 

	
  Date: April 16, 2003

  	
   

  	
  /s/Jason I. Drexler

  	
   

  	
   

  
	
   

  	
  Jason I. Drexler

  	
   

  
	
   

  	
  As Holder of the Note
  and Agent for Lenders

  	
   

  
							

 

2

 

Exhibit
A - Identification of Beneficiaries

 

	
  Name

  	
   

  	
  Note Amount

  	
   

  
	
  Richard A. and
  Clare F. Drexler as joint tenants with rights of survivorship

  	
   

  	
  $

  	
  300,000

  	
   

  
	
  Dan L. Drexler

  	
   

  	
  $

  	
  100,000

  	
   

  
	
  Jason I. Drexler

  	
   

  	
  $

  	
  200,000

  	
   

  
	
  Theodore P.
  Schwartz

  	
   

  	
  $

  	
  25,000

  	
   

  
	
  Eleanor Metnick

  	
   

  	
  $

  	
  25,000

  	
   

  
	
  RD&J
  Corporation

  	
   

  	
  $

  	
  25,000

  	
   

  
	
  Dale S. Drexler
  Living Trust U/A March 15, 1999 Dale S. Drexler, Trustee

  	
   

  	
  $

  	
  25,000

  	
   

  
	
  Karen K. Hart

  	
   

  	
  $

  	
  20,000

  	
   

  
	
  Alyce A. Lazar
  Declaration of Trust dated September 24, 1992

  	
   

  	
  $

  	
  50,000

  	
   

  
	
  TOTAL

  	
   

  	
  $

  	
  770,000.00

  	
   

  

 

3EXHIBIT 10.18

 

AMENDMENT
TO THE LICENSE AGREEMENT

BY
AND BETWEEN

INDEVUS
PHARMACEUTICALS, INC. AND PALIGENT INC.

 

THIS AMENDMENT, dated as of April 10, 2003, by and
between Paligent Inc., formerly Heavenlydoor.com, Inc. (“Paligent”) and Indevus
Pharmaceuticals, Inc., formerly Interneuron Pharmaceuticals, Inc. (“Indevus”),
amends the License Agreement effective as of June 14, 2000 (the “License
Agreement”) by and between Paligent and Indevus.

 

W I T N E S S E T H:

 

WHEREAS,
Paligent and Indevus desire to amend the License Agreement upon the terms and
conditions set forth herein.

 

NOW,
THEREFORE,
in consideration of the premises contained herein, and for other good and
valuable consideration, the adequacy and receipt of which are hereby
acknowledged, the parties hereto agree as follows:

 

1.             Each reference in the License
Agreement to “Heavenlydoor.com, Inc.” shall be construed as “Paligent Inc.,”
and each reference to “HDCI” shall be construed as “Paligent.”

 

2.             Each reference in the License
Agreement to “Interneuron Pharmaceuticals, Inc.” shall be construed as “Indevus
Pharmaceuticals, Inc.,” and each reference to “Interneuron” shall be construed
as “Indevus.”

 

3.             Except as otherwise defined herein,
all defined terms used herein shall have the meanings set forth in the License
Agreement.

 

4.             Section 5.2.(a) of the License
Agreement is hereby deleted, amended and restated to read in its entirety as
follows:

 

“(a)         $500,000 on or before April 15, 2003, in
immediately available funds by wire transfer to an account specified in writing
by Paligent.”

 

5.             Section 5.4 of the License
Agreement is hereby amended by adding a new Section 5.4.4 thereto, which
Section shall read in its entirety as follows:

 

“5.4.4  Second Option.  At any time prior to September 30, 2004,
Indevus shall have the option (the “Second Option”) to (i) buy out the royalty
obligations set forth in Section 5.3, the milestone payment obligation set
forth in Section 5.2.(b) and any other payment(s)  which may be or which may become at any time due or owing by
Indevus to Paligent under the License Agreement (other than for reimbursement
of out-of-pocket expenses, if any, provided for under Article VII of the
License Agreement),  and (ii) obtain an
assignment from Paligent to Indevus of all rights, title, interest (and
obligations,

 

 

if any, provided for
under Article VII of the License Agreement), throughout the Territory, in and
to the Patent Assets and the HDCI (Paligent) Know How, for $500,000. In the
event Indevus determines to exercise the Second Option, it shall pay Paligent
$500,000 in immediately available funds by wire transfer to an account
specified in writing by Paligent upon execution by the Parties of an assignment
agreement, whereupon the License Agreement shall terminate. Paligent shall assist
and cooperate with Indevus in evidencing and perfecting the assignment,
including executing all documents Indevus may reasonably request for such
purpose, all such assistance, cooperation and document preparation to be at the
sole cost and expense of Indevus, exclusive of legal fees and expenses of
counsel for Paligent.”

 

6.             Section 9.4 of the License
Agreement is hereby amended by replacing the address of Paligent with the
following:

 

Paligent
Inc.

369
Lexington Avenue, 10th Floor

New
York, NY 10017

Attention:
President

Fax
No. 212-983-2379

 

7.             Except as expressly amended or
waived by this Amendment, all of the provisions of the License Agreement shall
remain in full force and effect.  All
references to the License Agreement, from and after the date hereof, shall be
to the License Agreement as amended by this Amendment.

 

8.             In the event that any of the
provisions contained in this Amendment are held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions contained herein shall not in any way be affected or
impaired thereby, unless the absence of the invalidated provision(s) adversely
affect the substantive rights of the Parties. 
In such event, the Parties shall replace the invalid, illegal or
unenforceable provision(s) with valid, legal and enforceable provision(s)
which, insofar as practical, implement the purpose of this Amendment.

 

9.             This Amendment shall be governed by
and construed in accordance with the laws of the State of New York without
reference to any rules of conflicts of law.

 

10.           The waiver by a Party hereto of any
right hereunder or the failure to perform or of a breach by another Party shall
not be deemed a waiver of any other right hereunder or of any other breach or
failure by said other Party whether of a similar nature or otherwise.

 

11.           This Amendment may be executed in two
or more counterparts, each of which shall be deemed an original but all of
which together shall constitute one and the same instrument.

 

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

2

 

IN
WITNESS WHEREOF, the Parties have executed this Amendment as
of the date first set forth above.

 

	
   

  	
  PALIGENT INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Salvatore A. Bucci

  	
   

  
	
   

  	
  Name:

  	
  Salvatore A. Bucci

  
	
   

  	
  Title:

  	
  President and Chief
  Executive Officer

  
	
   

  	
   

  
	
   

  	
  INDEVUS PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Glenn L. Cooper

  	
   

  
	
   

  	
  Name:

  	
  Glenn L. Cooper

  
	
   

  	
  Title:

  	
  Chief Executive Officer

  
						

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00051-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00051-of-00352.parquet"}]]