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tdlp_ex1032.htm

EXHIBIT 10.32

AMENDMENT TO ADVISORY AGREEMENT

 

This Amendment to Advisory Agreement (this “Amendment”), dated July 24, 2012 (the “Effective Date”), is entered into by and between Imprimis Pharmaceuticals, Inc., a Delaware corporation (the “Company”) and Dr. Robert J. Kammer, an individual (the “Consultant”).

 

WHEREAS, the Company and the Consultant are parties to the Advisory Agreement, dated as of April 1, 2012 (the “Advisory Agreement”), pursuant to which the Company retained the Consultant to provide certain services for the Company as set forth therein;

 

WHEREAS, at the time of entry into the Advisory Agreement, the Company and the Consultant had mutually agreed to certain restrictions on Consultant’s ability to sell the shares of the Company’s common stock to be acquired by the Consultant as compensation for the performance of such services thereunder;

 

WHEREAS, due to an error, such restrictions were not included in the Advisory Agreement;

 

WHEREAS, the parties now desire to amend the Advisory Agreement as set forth herein in order to correct that error; and

 

WHEREAS, all capitalized terms used and not otherwise defined herein shall have the meanings given to them in the Advisory Agreement.

 

NOW THEREFORE, in consideration of mutual covenants contained herein, the parties hereby agree as follows:

 

	
A.  

	
AMENDMENTS

 

1.   The Advisory Agreement is amended to add a new subsection d. immediately following the end of subsection c. of Section 7 thereof, which shall read in its entirety as follows:

 

d.           Consultant hereby covenants and agrees that Consultant shall not sell more than five percent (5%) of the shares of common stock acquired by Consultant as compensation under subsection a. of this Section 7 or upon any exercise of the option granted pursuant to subsection b. of this Section 7 during any single month without the express consent of the Board of Directors of the Company; provided, however, that Consultant shall be permitted to transfer such common stock to members of Consultant’s immediate family or to a trust the beneficiaries of which are exclusively Consultant and/or a member or members of Consultant’s immediate family, provided, further, that prior to any such transfer, each transferee shall execute an agreement pursuant to which each transferee shall agree to receive and hold such securities subject to the provisions set forth in this subsection d of Section 7.

 

 

 

 

 

	
B.  

	
MISCELLANEOUS

 

1. Continuing Effect.  This Amendment shall be effective for all purposes as of the Effective Date.  Except as otherwise expressly modified by this Amendment, the Advisory Agreement shall remain in full force and effect in accordance with its terms.

 

2. Counterparts.  This Amendment may be executed in counterparts, each of which will be deemed an original, but all of such counterparts together will constitute one and the same agreement.

 

3. Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of California.

 

 

2

 

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment to be effective as of the Effective Date.

 

	 	

IMPRIMIS PHARMACEUTICALS, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Andrew Boll	 
	 	Name: 	 Andrew Boll	 
	 	Title:	 Vice President of Accounting and Public Re;porting	 
	 	 	 	 
	 	 	 	 
	 	CONSULTANT	 
	 	 	 	 
	 	 	/s/ Dr. Robert J. Kammer	 
	 	 	

Dr. Robert J. Kammer

	 
	 	 	 	 

 

 

 

 

 

3tdlp_ex1034.htm

EXHIBIT 10.34

TERMINATION AGREEMENT

 

This Termination Agreement (this “Termination Agreement”) is entered into by and between Dr. Paul Finnegan (“Consultant”) and Imprimis Pharmaceuticals, Inc. (the “Company”), effective as of May 9, 2012.

 

WHEREAS, Consultant and the Company are parties to the Senior Advisory Agreement, dated as of January 17, 2012 (the “Advisory Agreement”), pursuant to which Consultant is appointed to perform certain services to the Company; and

 

WHEREAS, Consultant currently serves as a member of the Board of Directors of the Company; and

 

WHEREAS, the parties now desire to terminate the Advisory Agreement on the terms and conditions set forth herein.

 

NOW THEREFORE, in consideration of mutual covenants contained herein, the parties hereby agree as follows:

 

1.           Termination.  Notwithstanding anything to the contrary set forth in the Advisory Agreement, Consultant and the Company hereby terminate the Advisory Agreement effective as of the date set forth above, and further waive any rights to prior notice of such termination thereunder, including any rights of notice set forth in Section 3(a) thereof.  Upon termination, the Advisory Agreement shall have no further force or effect, provided that, as provided in Section 11(i) of the Advisory Agreement, Sections 3, 4, 5, 9, 10 and 11 shall survive the termination of the Advisory Agreement.

 

2.           Compensation.  Consultant hereby waives his right to receive compensation from the Company for any services previously rendered to the Company under the Advisory Agreement.

 

3.           Amendment to Option Grant.  In consideration of the covenants and promises contained herein, Consultant and the Company hereby agree to amend the vesting schedule of the option to purchase 625,000 shares of common stock of the Company granted to Consultant pursuant to Section 7(b) of the Advisory Agreement (the “Option”) pursuant to an amendment to that certain Nonqualified Stock Option Agreement dated January 23, 2012, such that following the date of this Termination Agreement, the Option shall vest according to the following schedule:  (a) options to purchase 250,000 shares of the Company’s common stock shall vest on September 30, 2012; (b) options to purchase 250,000 shares of the Company’s common stock shall vest on March 31, 2013; and (c) options to purchase 1250,000 shares of the Company’s common stock shall vest on September 30, 2013.

 

4.           Counterparts.  This Termination Agreement may be executed in counterparts, each of which will be deemed an original, but all of such counterparts together will constitute one and the same agreement.

 

5.           Governing Law.  This Termination Agreement shall be governed by and construed in accordance with the laws of the State of California.

 

  

  

  

 

IN WITNESS WHEREOF, the undersigned have executed this Termination Agreement effective as of the date first above written.

 

 

	 	

IMPRIMIS PHARMACEUTICALS, INC.

	 
	 	 	 	 
	
Date

	
By: 

	/s/ Mark L. Baum	 
	 	Name: 	Mark L. Baum	 
	 	Title:	Chief Executive Officer	 
	 	 	 	 
	 	 	 	 
	 	CONSULTANT	 
	 	 	 	 
	 	 	/s/ Dr. Paul Finnegan	 
	 	 	

Dr. Paul Finnegan

	 

 

 

2tdlp_ex1039.htm

EXHIBIT 10.39

CONVERSION AGREEMENT

 

This Conversion Agreement ("Agreement") is dated this 29th of June, 2012 (the “Effective Date”) by and between DermaStar International, LLC, a limited liability company ("DermaStar"), and Imprimis Pharmaceuticals, Inc., a Delaware corporation, (the "Company").  DermaStar and the Company shall individually be referred to as a “Party” and collectively as the “Parties.”

 

WHEREAS, in or around December of 2011, DermaStar purchased, for value, ten (10) shares of Series A Convertible Preferred stock (the “Series A Stock”) from the Company;

 

WHEREAS, in addition to converting into 7,498,500 Company common shares, the Series A Stock also provides DermaStar with certain rights, privileges and preferences described in the attached Designation (see Exhibit A attached hereto, incorporated herein by reference);

 

WHEREAS, although DermaStar is not obligated to convert its Series A Stock into Company common shares, and doing so would cause DermaStar to lose such rights, privileges and preferences, the Company believes that the conversion of the Series A Stock would provide the Company with certain benefits that its desires as it attempts to raise capital and execute on its business plan; and

 

WHEREAS, the DermaStar is willing to convert its Series A Stock into Company common shares and the Company is willing to provide value to DermaStar for such conversion of the Series A Stock, as set forth below.

 

NOW, THEREFORE, in consideration of the promises and conditions set forth herein, the sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

1.           Conversion of the Series A Stock.  DermaStar shall immediately cause the conversion of all of its Series A Stock into Company common shares by providing such notice to the Company transfer agent along with a medallion stamped Series A Stock certificate and instructions regarding the conversion and the related issuance of 7,498,500 Company common shares (the “Conversion”).  As such, DermaStar shall receive from the Company, within 10 business days of the Conversion request, a Company common stock certificate for 7,498,500 common shares, payable in accord with the instructions provided to the Company transfer agent.

 

2.           Consideration.  For and in consideration of the Conversion, the Company agrees to immediately transmit the sum of two hundred thousand dollars ($200,000) to DermaStar International, LLC.

 

3.           Confidentiality.  The parties hereto understand and agree that the terms and contents of this Agreement, and the contents of the negotiations and discussions resulting in this Agreement, shall be maintained as confidential, and none of the above shall be disclosed except to the extent required by federal or state law.

 

4.           Amendment.  This Agreement shall be binding upon the parties and may not be modified in any manner, except by an instrument in writing of concurrent or subsequent date signed by a duly authorized representative of the parties hereto.  This Agreement is binding upon and shall inure to the benefit of the parties and their respective agents, assigns, heirs, executors, successors and administrators.

 

  

  

  

 

5.           Entire Agreement and Applicable Law.  This Agreement contains and constitutes the entire understanding and agreement between the parties hereto with respect to the settlement of claims the parties have against each other.  This Agreement cancels all previous oral and written negotiations, agreements, commitments, and writings in connection therewith.  This Agreement shall be governed by the laws of the State of California to the extent not preempted by federal law.

 

6.           Acknowledgments and Assent. The Parties acknowledge that they have been given sufficient time to consider and review this Agreement and that they consulted with an attorney prior to signing this Agreement and that they have in fact consulted with counsel of their own choosing prior to executing this Agreement.

 

7.           Severability.  The provisions of this Agreement shall be severable, so that the unenforceability, validity or legality of any one provision shall not affect the enforceability, validity or legality of the remaining provisions hereof.

 

8.           Joint Drafting.  This Settlement Agreement shall be deemed to have been drafted jointly by the Parties hereto, and no inference or interpretation against any one party shall be made solely by virtue of such party allegedly having been the draftsperson of this Settlement Agreement.

 

9.           Counterparts.  This Agreement may be executed in any one or more counterparts, all of which taken together shall constitute one instrument.

 

10.         Facsimile Signature.  It is expressly agreed to that the Parties may execute this Agreement via facsimile signature and such facsimile signature pages shall be treated as the originals for all purposes.

 

IN WITNESS WHEREOF, the parties hereto have executed this Release and Settlement Agreement as of the date set forth above.

 

 

	DermaStar International, LLC	 	 	Imprimis Pharmaceuticals, Inc.	 
	 	 	 	 	 
	
/s/ Robert Kammer

	 	 	
/s/ Mark L. Baum

	 
	By:	

Robert Kammer

	 	 	By:	

Mark L. Baum

	 
	Its:	

Managing Member

	 	 	Its:	

CEO

	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Imprimis Pharmaceuticals, Inc.	 
	 	 	 	 	 	 	 
	 	 	 	 	 /s/ Dr. Jeff Abrams	 
	 	 	 	 	By:	

Dr. Jeff Abrams

	 
	 	 	 	 	Its:	Independent Director	 

 

 

 

 

 

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