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      EXHIBIT
        10.8

      STOCK
        PLEDGE AGREEMENT

       

      This
        Stock Pledge Agreement (this “Agreement”)
        is
        dated as of September 16, 2005 by and between Acura Pharmaceuticals, Inc.,
        a New
        York corporation (the “Pledgor”),
        and
        Galen Partners III, L.P., a Delaware limited partnership, acting in its capacity
        as agent for the Lenders, as hereinafter defined (the “Agent”),
        for
        the benefit of the Lenders.

       

      PRELIMINARY
        STATEMENTS

       

      The
        Pledgor has entered into a Loan Agreement of even date herewith (as the same
        may
        be amended, modified, supplemented or restated from time to time, the
“Loan
        Agreement;”
        terms
        which are capitalized in this Agreement and not otherwise defined shall have
        the
        meanings ascribed to them in the Loan Agreement) with the Lenders party thereto
        (the “Lenders”).
        It is
        a condition precedent to the effectiveness of the Loan Agreement that the
        Pledgor shall have executed this Agreement and made the pledges referred
        to
        herein in favor of the Agent, for the ratable benefit of the Lenders, as
        contemplated hereby.

       

      AGREEMENT

       

      In
        consideration of the premises and to induce the Lenders to enter into the
        Loan
        Agreement, and for other good and valuable consideration, the receipt and
        sufficiency of which are hereby acknowledged, the Pledgor hereby agrees with
        the
        Agent as follows:

       

      ARTICLE
        1

       

      PLEDGE
        OF PLEDGED STOCK

       

      1.1 DEFINITIONS;
        INTERPRETATION OF AGREEMENT

       

      Unless
        the context otherwise requires, all terms not defined herein or in the Loan
        Agreement shall have the meaning set forth in the New York Uniform Commercial
        Code (the “Code”).
        Acceptance of or acquiescence in a course of performance rendered under this
        Agreement shall not be relevant in determining the meaning of this Agreement
        even though the accepting or acquiescing party had knowledge of the nature
        of
        the performance and opportunity for objection.

       

      1.2 PLEDGE
        OF THE PLEDGED STOCK; POWER OF ATTORNEY

       

      (a) As
        security for the prompt payment and performance when due of the obligations
        now
        or hereafter owing by the Pledgor to the Lenders under the Loan Agreement,
        the
        Notes, the other Transaction Documents and under the agreements, documents
        and
        instruments delivered by the Pledgor pursuant thereto or in connection therewith
        (collectively, the “Obligations”),
        the
        Pledgor hereby pledges to the Agent, for the ratable benefit of the Lenders,
        and
        grants to the Agent, for the ratable benefit of the Lenders, a lien on and
        security interest having priority over any and all other security interests,
        in
        the following (collectively the “Pledged
        Collateral”):
        (i)
        all of the issued and outstanding shares of common stock of Acura Pharmaceutical
        Technologies, Inc. (“APT”),
        and
        Axiom Pharmaceutical Corporation (“Axiom”
        and,
        together with APT, the “Subsidiaries”),
        which
        shares are more particularly described on Schedule
        A
        attached
        hereto (the “Pledged
        Stock”),
        (ii)
        all additional shares of common stock at any time issued to the Pledgor by
        APT
        or Axiom, (iii) the certificates evidencing all Pledged Collateral, (iv)
        subject
        to Section 1.6 hereof, all dividends, cash, securities, investment property,
        instruments and other property from time to time received, receivable or
        otherwise distributed in respect of or in exchange for any or all of the
        Pledged
        Stock and such shares and securities, and (v) all proceeds of any and all
        Pledged Collateral (including, without limitation, proceeds constituting
        any
        property of the types described above). The Pledgor shall deliver to the
        Agent
        original stock certificates for all of the Pledged Stock, each accompanied
        by an
        undated stock power executed in blank by the Pledgor.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (b) The
        Agent
        shall have no obligation with respect to the Pledged Collateral or any other
        property held or received by it hereunder except to use reasonable care in
        the
        custody thereof. The Agent may hold the Pledged Collateral in the form in
        which
        it is received by it.

       

      (c) The
        Pledgor, to the fullest extent permitted by law, hereby constitutes and
        irrevocably appoints the Agent (and any officer or agent of the Agent, with
        full
        power of substitution and revocation) as the Pledgor’s true and lawful
        attorney-in-fact, in the Pledgor’s stead and in the name of the Pledgor or in
        the name of the Agent, to transfer, upon the occurrence and during the
        continuance of an Event of Default or at any time the Agent, based on all
        the
        facts and circumstances then existing, and in the exercise of its commercially
        reasonable credit judgment, believes, and has so notified the Pledgor in
        writing, that, in connection with the Loan Agreement and the agreements,
        documents and instruments delivered by the Pledgor pursuant thereto or in
        connection therewith, fraud has occurred with respect to the Pledgor or any
        other Person controlling, controlled by, or under common control with the
        Pledgor which has a material adverse effect on the operations or condition
        (financial or otherwise) of the Pledgor and its subsidiaries, taken as a
        whole
        (a “Fraud”),
        the
        Pledged Collateral on the books of APT and Axiom, as applicable, in whole
        or in
        part, to the name of the Agent or such other Person or Persons as the Agent
        may
        designate and, upon the occurrence and during the continuance of an Event
        of
        Default or at any time the Agent, based on all the facts and circumstances
        then
        existing, and in the exercise of its commercially reasonable credit judgment,
        believes, and has so notified the Pledgor in writing, that Fraud has occurred,
        to take all such other and further actions as the Pledgor could have taken
        with
        respect to the Pledged Collateral which the Agent in its reasonable judgment
        determines to be necessary or appropriate to accomplish the purposes of this
        Agreement.

       

      (d) The
        powers of attorney granted pursuant to this Agreement and all authority hereby
        conferred are granted and conferred solely to protect the Agent’s interests in
        the Pledged Collateral and shall not impose any duty upon the attorney-in-fact
        to exercise such powers. Such powers of attorney shall be irrevocable prior
        to
        the payment in full of the Obligations and shall not be terminated prior
        thereto
        or affected by any act of the Pledgor or other Persons or by operation of
        law.
        The foregoing power of attorney, being coupled with an interest, is irrevocable
        so long as any Obligation remains outstanding.

       

      (e) Except
        to
        the extent that the Agent releases its pledge of any of the Pledged Collateral,
        each Person who shall be a transferee of the beneficial ownership of any
        of the
        Pledged Collateral shall be deemed to have irrevocably appointed the Agent,
        with
        full power of substitution and revocation, as such Person’s true and lawful
        attorney-in-fact in such Person’s name and otherwise to do any and all acts
        herein permitted and to exercise any and all powers herein conferred;
provided,
        however,
        that no
        Person shall exercise any such power of attorney unless an Event of Default
        shall have occurred and be continuing, and subject to the terms of the Loan
        Agreement regarding the exercise of remedies upon an Event of Default, or
        from
        and after such time as such Person has notified the Pledgor in writing that
        based on all the facts and circumstances then existing, and in the exercise
        of
        its commercially reasonable judgment, such Person believes that Fraud has
        occurred.

       

      
        
           

        

        
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      1.3 RIGHTS
        OF PLEDGOR; VOTING

       

      (a) During
        the term of this Agreement, and so long as the Pledgor has not received a
        Voting
        Notice (as defined below) from the Agent following (i) the occurrence and
        during
        the continuance of an Event of Default, and subject to the terms of the Loan
        Agreement regarding the exercise of remedies upon an Event of Default, or
        (ii)
        from and after such time as the Agent determines that based on all the facts
        and
        circumstances then existing, and in the exercise of its commercially reasonable
        judgment, the Agent believes that Fraud has occurred, the Pledgor shall have
        the
        right to vote any of the Pledged Collateral in all corporate matters except
        those which would contravene this Agreement, the Loan Agreement or any of
        the
        agreements, documents and instruments delivered by the Pledgor and each
        Subsidiary pursuant thereto unless the Agent consents in writing thereto.
        

       

      (b) Upon
        the
        occurrence and during the continuance of an Event of Default, and subject
        to the
        terms of the Loan Agreement regarding the exercise of remedies upon an Event
        of
        Default, or from or from and after such time as the Agent has notified the
        Pledgor in writing that based on all the facts and circumstances then existing,
        and in the exercise of its commercially reasonable judgment, Agent believes
        that
        Fraud has occurred, the Pledgor shall give the Agent at least fifteen (15)
        days’
        prior notice of (i) any meeting of stockholders of any of the Subsidiaries
        or
        any meeting of directors of any of the Subsidiaries convened for any purpose
        and
        (ii) any written consent which the Pledgor proposes to execute as the
        stockholder of any of the Subsidiaries or which any of the representatives
        of
        the Pledgor proposes to execute as a director of any of the Subsidiaries.
        During
        the continuance of an Event of Default, and subject to the terms of the Loan
        Agreement regarding the exercise of remedies upon an Event of Default, or
        from
        and after such time as the Agent determines that based on all the facts and
        circumstances then existing, and in the exercise of its commercially reasonable
        judgment, the Agent believes that Fraud has occurred, the Pledgor hereby
        authorizes the Agent to send its agents and representatives to any such meeting
        of stockholders or directors of any of the Subsidiaries that the Agent wishes
        to
        attend, and agrees to take such steps as may be necessary to confirm and
        effectuate such authority, including, without limitation, causing such
        Subsidiary to give reasonable prior written notice to the Agent of the time
        and
        place of any such meeting and the principal actions to be taken
        thereat.

       

      (c) Notwithstanding
        the occurrence of an Event of Default, and subject to the terms of the Loan
        Agreement regarding the exercise of remedies upon an Event of Default, or
        the
        determination by the Agent that based on all the facts and circumstances
        then
        existing, and in the exercise of its commercially reasonable judgment, the
        Agent
        believes that Fraud has occurred, the Pledgor may continue to exercise the
        voting rights of the Pledgor as herein described (and subject to the limitations
        herein) except to the extent that the Agent elects to exercise voting power
        (as
        determined by it in its sole discretion) by providing written notice to the
        Pledgor at any time during the continuance of an Event of Default or from
        and
        after such time as the Agent has determined that based on all the facts and
        circumstances then existing, and in the exercise of its commercially reasonable
        judgment, the Agent believes that Fraud has occurred (a “Voting
        Notice”),
        whereupon the Agent shall have the exclusive right during the continuance
        of an
        Event of Default or from and after the Agent’s determination of Fraud to
        exercise such rights to the extent specified in such Voting Notice, and the
        Pledgor shall take all such steps as may be necessary to effectuate such
        rights
        until the Agent notifies the Pledgor in writing of the release of such rights.
        Once any such Event of Default has been cured or waived and such cure or
        waiver
        is confirmed by the Agent to the Pledgor in writing, any relevant Voting
        Notice
        shall be deemed to be rescinded.

       

      
        
           

        

        
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      1.4 NO
        RESTRICTIONS ON TRANSFER

       

      The
        Pledgor warrants and represents that except as otherwise provided in (i)
        the
        Watson Stock Pledge Agreement dated March 29, 2000 executed by the Pledgor
        to
        secure the Senior Note (as amended, the “Watson
        Stock Pledge Agreement”)
        and
        (ii) the Stock Pledge Agreement dated as of June 22, 2005 executed by the
        Pledgor to secure a certain bridge loan (the “Bridge
        Loan”)
        extended
        pursuant to the terms of that certain Loan Agreement, dated as of June 22,
        2005
        (the “Bridge
        Loan Stock Pledge Agreement”),
        there
        are no restrictions on the transfer of the Pledged Stock (except for such
        restrictions imposed by operation of law), that there are no options, warrants
        or rights pertaining thereto, and that the Pledgor has the right to transfer
        the
        Pledged Stock free of any encumbrances and without the consent of the creditors
        of the Pledgor or the consent of any of the Subsidiaries or any other Person
        or
        any governmental agency whatsoever.

       

      1.5 NO
        TRANSFER OF LIENS; ADDITIONAL SECURITIES

       

      The
        Pledgor agrees that it will not sell, transfer or convey any interest in,
        or
        suffer or permit any lien or encumbrance to be created upon or with respect
        to,
        any of the Pledged Collateral during the term of this Agreement, except to
        or in
        favor of the Agent, or as agreed to in writing in advance by the Agent in
        accordance with the terms of the Loan Agreement. The Pledgor shall not cause,
        suffer or permit any Subsidiary to issue any common or preferred stock, or
        any
        other equity security or any other instruments convertible into equity
        securities, to any Person, unless the Agent otherwise consents in writing
        (which
        consent may be withheld in the Agent’s reasonable credit judgment).

       

      1.6 ADJUSTMENTS
        OF CAPITAL STOCK; PAYMENT AND APPLICATION OF DIVIDENDS

       

      Subject
        to the Loan Agreement, in the event that during the term of this Agreement
        any
        stock dividend, reclassification, readjustment or other change is declared
        or
        made in the capital structure of any Subsidiary or if any other or additional
        shares of stock of any Subsidiary are issued to the Pledgor, all new,
        substituted and additional shares or other securities issued by reason of
        any
        such change or acquisition shall immediately be delivered by the Pledgor
        to the
        Agent and shall be deemed to be part of the Pledged Collateral under the
        terms
        of this Agreement in the same manner as the shares of capital stock originally
        pledged hereunder. Subject to the Loan Agreement, upon the occurrence and
        during
        the continuance of an Event of Default and subject to the terms of the Loan
        Agreement regarding the exercise of remedies upon an Event of Default, or
        from
        and after such time as the Agent determines that based on all the facts and
        circumstances then existing, and in the exercise of its commercially reasonable
        judgment, the Agent believes that Fraud has occurred, all cash dividends
        received by or payable to the Pledgor in respect of the Pledged Collateral,
        including any additional shares of stock or investment property received
        by the
        Pledgor as a result of the Pledgor’s record ownership of the Pledged Stock,
        shall immediately be delivered by the Pledgor to the Agent, to be held by
        the
        Agent as Pledged Collateral hereunder or to be applied by the Agent against
        the
        Obligations. Upon the occurrence and during the continuance of an Event of
        Default and subject to the terms of the Loan Agreement regarding the exercise
        of
        remedies upon an Event of Default, or from and after such time as the Agent
        determines that based on all the facts and circumstances then existing, and
        in
        the exercise of its commercially reasonable judgment, the Agent believes
        that
        Fraud has occurred, the Pledgor will not demand and will not be entitled
        to
        receive, any cash dividends or other income, interest or property in or with
        respect to the Pledged Collateral, and if the Pledgor receives any of the
        same,
        the Pledgor shall immediately deliver it to the Agent to be held by it and
        applied as provided in the preceding sentence.

       

      
        
           

        

        
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      1.7 WARRANTS
        AND OPTIONS

       

      In
        the
        event that during the term of this Agreement subscription warrants or other
        rights or options shall be issued to the Pledgor in connection with the Pledged
        Collateral, all such stock warrants, rights and options shall forthwith be
        assigned to the Agent by the Pledgor, and such stock warrants, rights and
        options shall be, and, if exercised by the Pledgor, all new stock issued
        pursuant thereto shall be, pledged by the Pledgor to the Agent to be held
        as,
        and shall be deemed to be part of, the Pledged Collateral under the terms
        of
        this Agreement in the same manner as the shares of capital stock originally
        pledged hereunder.

       

      1.8 RETURN
        OF PLEDGED COLLATERAL UPON TERMINATION

       

      Upon
        the
        termination of the Loan Agreement and the indefeasible payment in full in
        cash
        of the Obligations and all other amounts payable under this Agreement, the
        Agent
        shall cause to be transferred or returned to the Pledgor all of the stock
        pledged by the Pledgor herein and any money, property and rights received
        by the
        Agent pursuant hereto, to the extent the Agent has not taken, sold or otherwise
        realized upon the same as permitted hereunder, together with all other documents
        reasonably required by the Pledgor to evidence termination of the pledge
        contemplated hereby.

       

      ARTICLE
        2 

       

      EVENTS
        OF DEFAULT; REMEDIES

       

      2.1 RIGHTS
        OF AGENT UPON DEFAULT

       

      Upon
        the
        occurrence and during the continuance of any Event of Default and subject
        to the
        terms of the Loan Agreement regarding the exercise of remedies upon an Event
        of
        Default, or from and after such time as the Agent determines that based on
        all
        the facts and circumstances then existing, and in the exercise of its
        commercially reasonable judgment, the Agent believes that Fraud has occurred,
        the Agent shall have and at any time may exercise with respect to the Pledged
        Collateral, the proceeds thereof, and any other property or money held by
        the
        Agent hereunder, all rights and remedies available to it under law, including,
        without limitation, those given, allowed or permitted to a secured party
        by or
        under the Code, and all rights and remedies provided for herein and in the
        Loan
        Agreement.

       

      
        
           

        

        
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      2.2 DISPOSITION
        OF PLEDGED STOCK

       

      (a) Without
        limiting the foregoing, in the event that the Agent elects to sell the Pledged
        Stock (such term including, for purposes of this Section 2.2, the Pledged
        Stock
        and all other shares of stock or securities at any time forming part of the
        Pledged Collateral), the Agent shall have the power and right in connection
        with
        any such sale, exercisable at its option and in its absolute discretion,
        to
        sell, assign, and deliver the whole or any part of the Pledged Stock or any
        additions thereto at a private or public sale for cash, on credit or for
        future
        delivery and at such price as the Agent deems to be satisfactory. Any such
        disposition which shall be made by private sale or other private proceeding
        shall be made upon not less than ten (10) days’ prior written notice to Pledgor
        specifying the date and time at which such disposition is to be made. Notice
        of
        any public sale shall be sufficient if it describes the Pledged Collateral
        to be
        sold in general terms, and is published at least once in The New York Times
        not
        less than ten (10) days prior to the date of sale. If The New York Times
        is not
        then being published, publication may be made in lieu thereof in any newspaper
        then being circulated in the City of New York, New York, as the Agent may
        elect.
        If any notice of a proposed sale or other disposition of Pledged Collateral
        shall be required by law, such notice shall be deemed reasonable and proper
        if
        mailed, postage prepaid, to the Pledgor at its address set forth in Section
        5.5
        hereof or such other address as the Pledgor may have, in writing, provided
        to
        the Agent. The Agent may, if it deems it reasonable, postpone or adjourn
        any
        sale of any collateral from time to time by an announcement at the time and
        place of the sale to be so postponed or adjourned without being required
        to give
        a new notice of sale. 

       

      (b) Because
        federal and state securities laws may restrict the methods of disposition
        of the
        Pledged Stock which are readily available to the Agent, and specifically
        because
        a public sale thereof may be impossible or impracticable by reason of certain
        restrictions under the Securities Act or under applicable “blue sky” or other
        state securities laws as now or hereafter in effect, the Pledgor agrees that
        the
        Agent may from time to time attempt to sell the Pledged Stock by means of
        a
        private placement restricting the offering or sale to a limited number of
        prospective purchasers who meet suitability standards the Agent deems
        appropriate and who agree that they are purchasing for their own accounts
        for
        investment and not with a view to distribution, and the Agent’s acceptance of
        the highest offer obtained therefrom shall be deemed to be a commercially
        reasonable disposition of the Pledged Stock. To the extent permitted by law,
        the
        Agent or its assigns may purchase all or any part of the Pledged Stock and
        any
        purchaser thereof shall thereafter hold the same absolutely free from any
        right
        or claim of any kind. To the fullest extent permitted by law, the Agent shall
        not be obligated to make any such sale pursuant to notice and may, without
        notice or publication, adjourn any public or private sale by announcement
        at the
        time and place fixed for the sale, and such sale may be held at any time
        or
        place to which the same may be adjourned. If any of the Pledged Stock is
        sold by
        the Agent upon credit or for future delivery, the Agent shall not be liable
        for
        the failure of the purchaser to pay for same and, in such event, the Agent
        may
        resell such Pledged Stock and the Pledgor shall continue to be liable to
        the
        Agent for the full amount of the Obligations to the extent the Agent does
        not
        receive full and final payment in cash therefor.

       

      
        
           

        

        
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      (c) Except
        as
        otherwise provided in the Loan Agreement or by applicable law, the Agent
        shall
        have the sole right to determine the order in which Obligations shall be
        deemed
        discharged by the application of the proceeds of Pledged Stock or any other
        property or money held hereunder or any amount realized thereon.

       

      ARTICLE
        3 

       

      REPRESENTATIONS
        AND WARRANTIES

       

      The
        Pledgor represents and warrants to the Agent that:

       

      3.1 CAPITALIZATION;
        GOOD TITLE

       

      (a) All
        shares of Pledged Stock are fully paid, duly and properly issued, nonassessable
        and owned by the Pledgor free and clear of any lien or encumbrance of any
        kind
        whatsoever, excepting those herein granted to the Agent hereunder and in
        connection with the Bridge Loan Agreement, and those granted to the holders
        of
        the Senior Note. The Pledged Stock constitutes all of the outstanding securities
        of any class or kind of all of the Subsidiaries.

       

      (b) Except
        in
        the case of the liens granted to the holders of the Senior Note and the Bridge
        Loan lenders, no effective financing statement or other instrument similar
        in
        effect covering all or any part of the Pledged Collateral is on file in any
        recording office.

       

      3.2 VALID
        SECURITY INTEREST

       

      The
        pledge of the Pledged Collateral pursuant to this Agreement creates a valid
        and
        perfected first-priority security interest, securing the payment of the
        Obligations, and all filings and other actions necessary or desirable to
        perfect
        and protect such security interest having been duly made or taken.

       

      3.3 CONSENTS

       

      Except
        for the consent of the holders of the Senior Note, the holders of the Series
        A
        Preferred and the Bridge Loan lenders, no authorization, approval or other
        action by, and no notice to or filing with, any governmental authority or
        regulatory body is required for (a) the pledge by the Pledgor of the Pledged
        Collateral pursuant to this Agreement, the grant by the Pledgor of the
        assignment or security interest granted hereby or the execution, delivery
        or
        performance of this Agreement by the Pledgor, (b) the perfection of or exercise
        by the Agent of its rights and remedies provided for in this Agreement, or
        (c)
        the exercise by the Agent of the voting or other rights provided for in this
        Agreement or the remedies in respect of the Pledged Collateral pursuant to
        this
        Agreement (except as may be required in connection with a judicial foreclosure,
        if applicable, or the disposition of the Pledged Stock by laws affecting
        the
        offering and sale of securities generally).

       

      
        
           

        

        
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      3.4 AUTHORIZATION;
        ENFORCEABILITY

       

      The
        Pledgor has full right, power and authority to enter into this Agreement
        and to
        grant the security interest in the Pledged Collateral made hereby, and this
        Agreement constitutes the legal, valid and binding obligation of the Pledgor
        enforceable against the Pledgor in accordance with its terms, except as the
        enforceability thereof may be (a) limited by bankruptcy, insolvency,
        reorganization, moratorium or similar laws affecting the enforceability of
        creditors’ rights generally, and (b) subject to general principles of equity
        (regardless of whether such enforceability is considered in a proceeding
        in
        equity or at law).

       

      3.5 NO
        CONFLICT

       

      The
        execution, delivery and performance by the Pledgor of this Agreement will
        not
        result in any violation, conflict with, or result in a breach of any of the
        terms of, or constitute a default under, any agreements, contracts, court
        orders
        or consent decrees, the Certificate of Incorporation or the By-laws, as amended,
        of the Pledgor.

       

      ARTICLE
        4

       

      
        INDEMNITY
          AND EXPENSES

      

       

      4.1 INDEMNITY

       

      The
        Pledgor agrees to and hereby indemnifies the Agent and each of the Lenders
        from
        and against any and all Losses arising out of, or in connection with, or
        resulting from this Agreement (including, without limitation, enforcement
        of
        this Agreement) unless resulting from or arising out of the gross negligence
        or
        willful misconduct of the Agent or such Lender.

       

      4.2 EXPENSES

       

      The
        Pledgor agrees promptly upon the Agent’s or such Lender’s demand to pay or
        reimburse the Agent or such Lender for all reasonable expenses (including,
        without limitation, reasonable fees and disbursements of counsel) incurred
        by
        the Agent or such Lender in connection with (a) any modification or amendment
        to
        or waiver of any provision of this Agreement requested by the Pledgor, (b)
        the
        custody or preservation of the Pledged Collateral, (c) any actual or attempted
        sale or exchange of, or any enforcement, collection, compromise or settlement
        respecting, the Pledged Collateral or any other property or money held hereunder
        or any other action taken by the Agent or such Lender hereunder reasonably
        necessary to enforce its rights, whether directly or as attorney-in-fact
        pursuant to the power of attorney herein conferred, or (d) the failure by
        the
        Pledgor to perform or observe any of the provisions hereof. All such expenses
        shall be deemed a part of the Obligations for all purposes of this Agreement
        and
        the Agent may apply the Pledged Collateral or any other property or money
        held
        hereunder to payment of or reimbursement for such expenses after notice and
        demand to the Pledgor.

       

      
        
           

        

        
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      ARTICLE
        5

       

      MISCELLANEOUS

       

      5.1 AGENT
        MAY PERFORM

       

      If
        the
        Pledgor fails to perform any representation, warranty, covenant or agreement
        required to be performed by it contained herein, the Agent may, but shall
        not be
        obligated to, perform, or cause performance of, such representation, warranty,
        covenant or agreement, and the out-of-pocket expenses of the Agent incurred
        in
        connection therewith shall be payable by the Pledgor.

       

      5.2 WAIVERS
        AND AMENDMENT

       

      The
        rights and remedies given hereby are in addition to all others however arising,
        but it is not intended that any right or remedy be exercised in any jurisdiction
        in which such exercise would be prohibited by law. No action, failure to
        act or
        knowledge of the Agent shall be deemed to constitute a waiver of any power,
        right or remedy hereunder, nor shall any single or partial exercise thereof
        preclude any further exercise thereof or the exercise of any other power,
        right
        or remedy. Any right or power of the Agent hereunder in respect of the Pledged
        Collateral and any other property or money held hereunder may at the option
        of
        the Agent be exercised as to all or any part of the same and the term the
        “Pledged Collateral” wherever used herein, unless the context clearly requires
        otherwise, shall be deemed to mean (and shall be read as) “the Pledged
        Collateral and any other property or money held hereunder or any part thereof.”
        This Agreement shall not be amended nor shall any right hereunder be deemed
        waived except by a written agreement expressly setting forth the amendment
        or
        waiver and signed by the Agent.

       

      5.3 CONTINUING
        SECURITY INTEREST; ASSIGNMENTS OF SECURED DEBT

       

      This
        Agreement shall create a continuing security interest having priority over
        any
        and all security interests in the Pledged Collateral and shall (a) remain
        in
        full force and effect, (b) be binding upon the Pledgor, and the Pledgor’s
        successors and assigns, and upon each of the Subsidiaries, and their successors
        and assigns, and (c) inure, together with the rights and remedies of the
        Agent
        and the Lenders hereunder, to the benefit of the Agent, its successors and
        permitted assigns. Without limiting the generality of the foregoing clause
        (c),
        the Agent may assign or otherwise transfer all or any portion of its rights
        and
        obligations under this Agreement to any other Person, to the extent and in
        the
        manner provided in the Loan Agreement and such other Person shall thereupon
        become vested with all the benefits in respect hereof granted to the Agent
        herein; the Agent shall, however, retain all of its rights and powers with
        respect to any part of the Pledged Collateral not transferred. Any agent
        or
        nominee of the Agent shall have the benefit of this Agreement as if named
        herein
        and may exercise all the rights and powers given to the Agent
        hereunder.

       

      5.4 GOVERNING
        LAW; CONSENT TO JURISDICTION

       

      (a) This
        Agreement and the rights of the parties hereunder shall be governed in all
        respects by the laws of the State of New York wherein the terms of this
        Agreement were negotiated, excluding to the greatest extent permitted by
        law any
        rule of law that would cause the application of the laws of any jurisdiction
        other than the State of New York.

       

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      (b) Each
        of
        the parties hereto hereby irrevocably and unconditionally submits, for itself
        and its property, to the nonexclusive jurisdiction of any New York State
        court
        or United States Federal court sitting in New York City, and any appellate
        court
        from any thereof, in any action or proceeding arising our of or relating
        to this
        Agreement or any of the other Transaction Documents to which it is a party,
        or
        for recognition or enforcement of any judgment, and each of the parties hereto
        irrevocably and unconditionally agrees that all claims in respect of any
        such
        action or proceeding may be heard and determined in any such New York State
        court or, to the fullest extent permitted by law, in such United States Federal
        court. Each of the parties hereto agrees that a final judgment in any such
        action or proceeding shall be conclusive and may be enforced in other
        jurisdictions by suit on the right that any party may otherwise have to bring
        any action or proceeding relating to this Agreement or any of the other
        Transaction Documents in the courts of any other jurisdiction. 

       

      (c) Each
        of
        the parties hereto irrevocably and unconditionally waives, to the fullest
        extent
        it may legally and effectively do so, any objection that it may now or hereafter
        have to the laying of venue of any suit, action or proceeding arising out
        of or
        in relation to this Agreement or any other Transaction Document to which
        it is a
        party in any such New York State or United States Federal court sitting in
        New
        York City. Each of the parties hereto hereby irrevocably waives, to the fullest
        extent permitted by law, the defense of an inconvenient forum to the maintenance
        of such action or proceeding in any such court.

       

      5.5 NOTICES

       

      All
        notices hereunder shall be in writing (except only as otherwise provided
        in
        Section 5.2) and shall be conclusively deemed to have been received and shall
        be
        effective (a) on the day on which delivered if delivered personally (including
        delivery by courier or overnight mail providing evidence of delivery), or
        transmitted by telex or telegram or telecopier with transmission confirmed,
        or
        (b) five (5) days after the date on which the same is deposited in the United
        States mail (certified or registered if required under Section 5.4), with
        postage prepaid and properly addressed, and any notice mailed shall be
        addressed:

       

      (a) in
        the
        case of the Pledgor, to:

       

      Acura
        Pharmaceuticals, Inc.

      616
        N.
        North Court, Suite 120

      Palatine,
        Illinois 60067

      Telecopier
        No.: (847) 705-5399

      

      with
        copies to:

      

      St.
        John
& Wayne

      2
        Penn
        Plaza East

      Newark,
        New Jersey 07105

      Attention:
        John P. Reilly, Esq.

      Telephone
        No.: (973) 491-3600

      Telecopier
        No.: (973) 491-3555

      

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      (b) in
        the
        case of the Agent, to:

       

      Galen
        Partners III, L.P.

      610
        Fifth
        Avenue, Fifth Floor

      New
        York,
        NY 10020

      Telecopier
        No.: (212) 218-4999

      Attention:
        Bruce F. Wesson

      with
        a
        copies to:

      

      Blank
        Rome, LLP

      Chrysler
        Building

      405
        Lexington Avenue

      New
        York,
        New York 10174

      Attention:
        George N. Abrahams, Esq.

      Telephone
        No.: (212) 885-5207

      Telecopier
        No.: (917) 332-3763

      

      or
        at
        such other address as the party giving such notice shall have been advised
        of in
        writing for such purpose by the party to whom or to which the same is
        directed.

       

      5.6 SEVERABILITY;
        ENTIRE AGREEMENT

       

      (a) If
        any
        provision of this Agreement shall be invalid, illegal, or unenforceable in
        any
        jurisdiction, the validity, legality or enforceability of any such provision
        in
        any other jurisdiction shall not be affected or impaired, and to the extent
        any
        provision is held invalid, illegal or unenforceable, then such provision
        shall
        be deemed severable from, and shall in no way affect the validity or
        enforceability of the remaining provisions of this Agreement.

       

      (b) This
        Agreement, together with the other Transaction Documents, constitutes the
        entire
        agreement of the Pledgor and replaces any other or prior agreements or
        undertakings, with respect to the subject matter hereof, and there are no
        other
        agreements or undertakings, oral or written, respecting such subject matter
        which are intended to have any force or effect after the execution
        hereof.

       

      5.7 SUCCESSORS
        AND ASSIGNS; HEADINGS

       

      This
        Agreement shall be binding upon and shall inure to the benefit of the Pledgor
        and the Agent and their respective successors and permitted assigns. Section
        headings used herein are for convenience only and shall not affect the meaning
        or construction of any of the provisions hereof.

       

      5.8 COUNTERPARTS

       

      This
        Agreement may be executed in any number of counterparts, including by facsimile
        copy, each executed counterpart constituting an original but all counterparts
        together constituting only one instrument.

       

      

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      5.9 FURTHER
        ASSURANCES

       

      Pledgor
        shall execute, in a proper and timely manner, at or after the date hereof,
        such
        additional documents and instruments as may be reasonably requested by the
        Agent
        in connection with the consummation or confirmation of the transactions
        contemplated by this Agreement.

       

      5.10 NO
        ASSIGNMENT

       

      This
        Agreement may not be assigned by the Pledgor without the prior express written
        consent of the Agent.

       

      5.11 WAIVERS
        OF JURY TRIAL

       

      THE
        PLEDGOR AND, BY ITS ACCEPTANCE HEREOF, THE AGENT HEREBY IRREVOCABLY WAIVE
        ALL
        RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER
        BASED
        ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO ANY TRANSACTION
        DOCUMENT OR THE ACTIONS OF ANY PARTY IN THE NEGOTIATION, ADMINISTRATION,
        PERFORMANCE OR ENFORCEMENT THEREOF.

       

      5.12 WAIVERS
        OF CONSEQUENTIAL DAMAGES

       

      NEITHER
        THE PLEDGOR, THE AGENT OR ANY LENDER, NOR ANY EMPLOYEE, AGENT OR ATTORNEY
        OF ANY
        OF THEM, SHALL BE LIABLE TO THE OTHER FOR CONSEQUENTIAL DAMAGES ARISING FROM
        ANY
        BREACH OF CONTRACT, TORT OR OTHER WRONG RELATING TO THIS AGREEMENT OR THE
        ESTABLISHMENT, ADMINISTRATION OR COLLECTION OF THE OBLIGATIONS, EXCEPT FOR
        BAD
        FAITH.

       

      5.13 LIMITATION
        OF LIABILITY

       

      THE
        AGENT
        AND THE LENDERS SHALL NOT HAVE ANY LIABILITY TO THE PLEDGOR (WHETHER SOUNDING
        IN
        TORT, CONTRACT, OR OTHERWISE) FOR LOSSES SUFFERED BY THE PLEDGOR IN CONNECTION
        WITH, ARISING OUT OF, OR IN ANY WAY RELATED TO THE TRANSACTIONS OR RELATIONSHIPS
        CONTEMPLATED BY THIS AGREEMENT, OR ANY ACT, OMISSION OR EVENT OCCURRING IN
        CONNECTION THEREWITH, UNLESS IT IS DETERMINED BY A FINAL AND NONAPPEALABLE
        JUDGMENT OR COURT ORDER BINDING ON THE AGENT OR LENDER, AS APPLICABLE, THAT
        THE
        LOSSES WERE THE RESULT OF ACTS OR OMISSIONS CONSTITUTING GROSS NEGLIGENCE
        OR
        WILLFUL MISCONDUCT.

      
 

      [SIGNATURE
        PAGE TO FOLLOW]

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      IN
        WITNESS WHEREOF, the Pledgor has caused this Stock Pledge Agreement to be
        executed by its duly authorized officer as of the date first written
        above.

       

      
        	 	 	ACURA
                PHARMACEUTICALS, INC.
	 	 	 	 
	 	 	By:	
                /s/
                  Andrew D.
                  Reddick                                        
                  

              
	 	 	 	
                
                  Name:
                    Andrew D. Reddick

                  Title:
                    President and Chief Executive Officer

                

              
	 	 	 	 
	Accepted
                and Agreed to:	 	 
	 	 	 
	GALEN
                PARTNERS III, L.P.
                on
                  behalf of itself and as Agent

                By:
                  Claudius, L.L.C, General Partner

                610
                  Fifth Avenue, 5th
                  Fl.

                New
                  York, New York 10019

              	 	 
	 	 	 	 
	By:	/s/ Srini
                Conjeevaram                                          
                  	 	 
	 	
                Name:
                  Srini Conjeevaram, its General Partner

              	 	 

      

       

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      SCHEDULE
        A

      

      

      Designation
        and Number of

      shares
        of
        capital stock owned by Pledgor

      

      

      

      
        	
                 

                 

                Issuer

              	
                 

                 

                 Certificate
                  No.

              	
                 

                 

                Designation

              	
                 

                Number
                  of Shares

              
	
                 

                Acura
                  Pharmaceutical Technologies, Inc.

              	
                 

                1

              	
                 

                Common
                  Stock, $.01 par value

              	
                 

                100

              
	
                 

                Axiom
                  Pharmaceutical Corporation

              	
                 

                1

              	
                 

                Common
                  Stock, $.01 par value

              	
                 

                100Unassociated Document

    

      ASSIGNMENT
        OF INTELLECTUAL PROPERTY RIGHTS

      

      

      THIS
        ASSIGNMENT OF INTELLECTUAL PROPERTY RIGHTS (this
        "Assignment") is entered into by and between BSI2000,
        INC.,
        a
        Delaware corporation, ("Buyer"), whose address is 12600 W. Colfax Avenue,
        Suite
        B410A, Lakewood, CO 80215 and THE
        NEW SYTRON, INC.,
        a
        Colorado corporation ("Seller"), whose address is 11959 Discovery Court,
        Moorpark, CA 93021 on August 25, 2005.

      

      RECITALS

      

      By
        court
        orders dated February 2, 2005 and May 4, 2005, in Case
        No. 05 CV 15 pending in the District Court for Boulder
        County,
        Colorado, titled The
        New Sytron, Inc. v. DPI International Group,
        Seller
        was granted "full and final possession, control and ownership" of certain
        assets
        of DPI International Group, a Nevada Corporation ("Debtor"), including the
        access control system commonly known as MAXX-NET, MAXX-Net, Maxx-Net or any
        variation thereof (the "Maxx-Net System").

      

      AGREEMENTS

      

      For
        good
        and valuable consideration, the receipt and sufficiency of which are hereby
        acknowledged, the parties agree as follows:

      

      1. 
Pursuant
        to the exercise by Buyer of its option to purchase under that certain Option
        to
        Purchase Agreement dated as of August 2, 2005 by and among Buyer,
        Seller
        and Ahmad Ibrahim, Seller hereby assigns to Buyer all right, title and interest
        which Seller and/or DPI International Group Inc., as debtor, has or may in
        the
        future have relating to possession, use and/or ownership of the following
        described assets (collectively, the "Assets"): The Maxx-Net System and any
        and
        all assets comprising components thereof, including any and all related software
        (source and object code), algorithms, computer processing systems, techniques,
        methodologies, formulae, processes, compilations of information, documentation,
        drawings, proposals, recommendations, job notes, reports, records,
        specifications, customer lists, customer contact information, trade names,
        trademarks, and any goodwill associated therewith, along with the right to
        apply
        for registration of the copyright in any related software, the right to create
        derivative works and the right to sue for past infringement of the copyright,
        trademark or any intellectual property right relating to the Maxx-Net System,
        whether patentable or not.

       

      This
        assignment specifically includes the
        right
        to apply for registration of any and all ideas, concepts, know-how, techniques,
        processes, inventions, discoveries, works of authorship, innovations and
        improvements related in any way to the Maxx-Net System with appropriate
        government authorities anywhere in the world, the right to sue for past,
        present
        and future infringement, and all of the goodwill associated therewith. This
        assignment is being made pursuant to a private foreclosure sale by Seller
        in its
        capacity as a secured creditor of Debtor conducted under and in full compliance
        with the Colorado Uniform Commercial Code - Secured Transactions.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      2. 
Seller
        will provide all assistance reasonably requested by Buyer in the establishment,
        preservation and enforcement of Buyer's interests in the Assets (such as
        by
        executing documents, including assignments and patent applications and
        testifying, etc.), such assistance to be provided at Buyer's expense but
        without
        any additional compensation to Seller. If Seller fails to make an additional
        confirmatory assignment, this Assignment shall operate as an
        assignment.

       

      3. 
This
        Assignment shall be construed in accordance with and governed by the law
        of the
        State of Colorado, except to the extent that federal law applies.

      

      
        	 	 	 
	 	The
                New Sytron, Inc.,
                a
                Colorado corporation
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Ahmad
                Ibrahim
	 	President

      

       

      
        	 	 	 
	 	BSI2000,
                Inc.,
                a
                Delaware corporation
	 
 	 
 	 
 
	 	By:  	 
	 	
                
Jack
                Harper
	 	President

      

       

      

      
        
          
          

        

        
          2

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