Document:

Exhibit 10.26

                          AXIOM CAPITAL MANAGEMENT INC.
                           780 THIRD AVENUE, 43 FLOOR
                               NEW YORK, NY 10017

                               ------------------

                                                                    JUNE 5, 2007

SENT VIA FAX AND EMAIL
----------------------

Ronald H. Lane PH.D.
Chief Executive Officer
Synovics Pharmaceuticals, Inc.
2415 East Camelback Road - Suite 700

Phoenix, AZ 85016

Dear Ronald:

         Axiom Capital Management Inc. (the "PLACEMENT AGENT") is pleased to act
as  placement  agent  to  Synovics  Pharmaceuticals,  Inc.  and  certain  of its
subsidiaries (the "COMPANY") in connection with the following transactions:  (i)
a  $15,000,000  debt  financing  with  Greenbridge   Capital  (the  "GREENBRIDGE
FINANCING"  and the  securities  placed  in  such  financing,  the  "GREENBRIDGE
SECURITIES")  (ii) a placement of up to $4,500,000 in secured  bridge notes (the
"BRIDGE NOTES") which will  automatically  convert into  securities  received by
investors in the  Convertible  Preferred  Financing  (defined  below) along with
warrants to purchase shares of the Company's common stock (the  "Warrants",  and
such  financing,  the "BRIDGE  ROUND") (iii) an offering of up to $16,000,000 in
convertible  preferred shares (the "CONVERTIBLE  PREFERRED STOCK") including the
principal amount of Bridge Notes converted into Convertible  Preferred Stock and
Warrants (the "WARRANTS"  together with the  Convertible  Preferred  Stock,  the
"SECURITIES") to accredited  investors  pursuant to mutual agreeable terms to be
negotiated with investors (such offering, the "CONVERTIBLE PREFERRED FINANCING")
and (iv) the  conversion of up to $4,545,000 of  outstanding  secured notes (the
"INDIGO BRIDGE  NOTES") into  Convertible  Preferred  Stock of the Company (such
transaction,  the  "CONVERSION OF INDIGO BRIDGE  NOTES").  Each of the Placement
Agent  and  the  Company  may be  referred  to  individually  as a  "Party"  and
collectively as the "PARTIES".  This engagement letter may be referred to as the
"AGREEMENT".  Each  of the  Greenbridge  Financing,  the  Bridge  Round  and the
Convertible  Preferred  Financing  may be  referred  to as a  "TRANSACTION"  and
collectively as the "Transactions".

         In our  capacity as your  placement  agent we will have no authority to
commit the Company in any fashion.  All decisions  will remain with you and your
Board in your sole and absolute discretion.

         The Company  agrees to retain the  Placement  Agent for a period of six
(6)  months  from  the date  hereof  for the  purposes  described  above,  on an
exclusive  basis.  The period may be extended by mutual  agreement,  and earlier
termination  is permitted by either party upon fifteen (15) days written  notice
to the other. In addition, the Placement Agent may retain sub-placement

<PAGE>

agents  subject to the Company's  prior consent which shall not be  unreasonably
withheld.  Prior to the closing of the Greenbridge Financing,  the Parties shall
execute a  Placement  Agency  Agreement  covering  all  Transactions  containing
customary  representations  and warranties in a form reasonably  satisfactory to
the Placement Agent.

         Upon closing of the Transactions, the Placement Agent shall receive the
following fees:

         A.    CASH FEES.

               i.   At each closing of the Greenbridge Financing,  the Placement
                    Agent will  receive a cash fee equal to two percent  (2%) of
                    the aggregate  purchase price of the Greenbridge  Securities
                    sold at such closing.

               ii.  At each closing of the Bridge  Round,  the  Placement  Agent
                    will  receive a cash fee equal to ten  percent  (10%) of the
                    aggregate  purchase  price of the Bridge  Notes sold at such
                    closing.

               iii. At each closing of the Convertible Preferred Financing,  the
                    Placement Agent will receive a cash fee equal to ten percent
                    (10%) of the  aggregate  purchase  price of the  Convertible
                    Preferred Stock sold at such closing.

               iv.  The  Placement  Agent shall receive a cash fee equal to four
                    percent  (4%) of the  aggregate  face  value  of the  Indigo
                    Bridge Notes converted into  Convertible  Preferred Stock of
                    the Company.

         B.    WARRANTS.

               i.   The  Placement  Agent shall  receive  warrants  granting the
                    Placement  Agent the right to purchase  four percent (4%) of
                    the number of shares into which the  Greenbridge  Securities
                    purchased by investors  introduced by the Placement Agent in
                    the Greenbridge Financing are convertible.

               ii.  The  Placement  Agent shall  receive  warrants  granting the
                    Placement  Agent the right to purchase ten percent  (10%) of
                    the number of shares into which the Bridge  Notes  purchased
                    by investors introduced by the Placement Agent in the Bridge
                    Round are convertible.

               iii. The  Placement  Agent shall  receive  warrants  granting the
                    Placement  Agent the right to purchase ten percent  (10%) of
                    the number of shares  into which the  Convertible  Preferred
                    Stock  purchased by investors  introduced  by the  Placement
                    Agent   in   the   Convertible   Preferred   Financing   are
                    convertible.

               iv.  The  Placement  Agent shall  receive  warrants  granting the
                    Placement  Agent the right to purchase  four percent (4%) of
                    the number of common  shares  into  which the Indigo  Bridge
                    Notes are converted.

         C.    EXPENSES.  The Company  hereby  agrees to reimburse the Placement
               Agent for all out-of-pocket  costs,  including but not limited to
               travel  expenses and legal fees incurred in  connection  with the
               Transactions including any post-closing expenses.

         Upon  expiration  of  this  Agreement,  or if  the  Company  elects  to
terminate this  Agreement,  the above provision with respect to fees shall apply
nevertheless with respect to any transaction concluded by the Company within one
year following such expiration or termination

                                       2

<PAGE>

with any party  introduced to the Company by the  Placement  Agent or with which
the  Placement  Agent has  participated  in material  discussions  concerning  a
proposed  transaction.  Upon any expiration or  termination by the Company,  the
Placement Agent shall, if requested in writing by the Company,  promptly provide
the Company with a list of any such parties.  Regardless of the  completion of a
transaction,  the Company  agrees to reimburse the  Placement  Agent for all its
out-of-pocket  expenses  incurred in connection with this engagement,  including
reasonable fees and disbursements of counsel.

         The Company agrees to furnish or cause to be furnished to the Placement
Agent any information  concerning the Company that the Placement Agent considers
necessary  for the proper  performance  of its services  hereunder.  The Company
agrees that all such information shall be complete,  accurate and not misleading
and will keep the Placement  Agent promptly and fully  informed of  developments
which might affect the accuracy or  completeness of such  information.  We agree
that we will treat all  material  received  from you in a strictly  confidential
manner and will disclose such  information  only with the prior  approval of the
Company, except as otherwise required by law or legal process.

         The Company agrees to indemnify and hold harmless the Placement  Agent,
its members, employees and agents (collectively, the "INDEMNIFIED PARTIES") from
and  against  any  losses,  claims,  damages  or  liabilities  (or  actions,  or
proceedings, in respect thereof) related to or arising out of this engagement or
the  Placement  Agent's role in  connection  therewith  and will  reimburse  the
Indemnified  Parties for all related  expenses  (including  fees and expenses of
legal counsel) as they are incurred in connection with investigating,  preparing
or defending any such action,  proceeding or claim, except that the Company will
not be responsible to any Indemnified Party for any claims, liabilities,  losses
or  damages  to the  extent  they  are  finally  determined  by a  court  having
jurisdiction  (after all  applicable  periods  for appeal  have  lapsed) to have
resulted  primarily  from the gross  negligence  or willful  misconduct  of such
Indemnified  Party.  The  foregoing  provisions  of this  paragraph  shall be in
addition to any right that the  Indemnified  Parties and/or the Company may have
in common law or  otherwise.  The  provisions  of this  paragraph  shall survive
expiration or termination of this Agreement.

         This   constitutes   the  entire   agreement   between   the   Parties,
incorporating  all discussions  between us, and may be amended only by a writing
executed by both Parties. This Agreement shall be interpreted in accordance with
the laws of the State of New York,  without regard to principles of conflicts of
laws, and shall inure to the benefit of our successors and assigns.

                           [SIGNATURE PAGE TO FOLLOW]

                                       3

<PAGE>

         If the foregoing  correctly  sets forth the  understanding  between us,
please so indicate by signing below.

                                       Very truly yours,

                                       AXIOM CAPITAL MANAGEMENT, INC.

                                       By:  /s/ Mark Martino
                                       ------------------------------
                                       Name: Mark Martino

                                       Title: President

Agreed to and accepted this
15 day of June , 2007

SYNOVICS PHARMACEUTICALS, INC.

By: /s/ Ronald H. Lane
    --------------------------------
Name: Ronald H. Lane Ph. D.
Title: Chief Executive Officer

                                        4EX-10.59

 

Exhibit 10.59

PARTIAL SURRENDER OF LEASE AGREEMENT

AND MODIFICATION AGREEMENT

     AGREEMENT (this “Agreement) made as of the 14th day of August, 2007 by and between W2007 417
Fifth Realty, LLC (hereinafter referred to as “Owner”), having an address at 530 Fifth Avenue,
Suite 1800, New York, New York 10036, and Atari, Inc. (hereinafter referred to as “Tenant”),
having an address at 417 Fifth Avenue, New York, New York 10016.

WITNESSETH:

     WHEREAS, Fifth and 38th LLC (“Prior Landlord”) and Tenant executed and delivered a
certain Agreement of Lease (as amended, the “Lease”) dated June 21, 2006 pursuant to which Tenant
leased from Landlord the entire 7th and 8th floors and a portion of the
basement (collectively, the “Premises”) in the building known as 417 Fifth Avenue, New York, New
York (the “Building”) for a term that is scheduled to expire on June 30, 2021;

     WHEREAS, Owner has succeeded or will shortly succeed to the interests of the Prior Landlord
in the Building and under the Lease;

     WHEREAS, Tenant desires to surrender its leasehold interest (the “Surrender”) in and to a
portion of the Premises, consisting of the entire 8th Floor of the Building (the
“Office Surrender Premises”) and the entire area of the basement storage space currently leased by
Tenant in the Building consisting of 2,500 rentable square feet (the “Basement Surrender
Premises”; the Office Surrender Premises and the Basement Surrender Premises, are herein
collectively referred to as, the “Surrender Premises”)
prior to June 30, 2021 and Owner desires to
accept such early Surrender of the Surrender Premises in accordance with the terms of this
Agreement,

     WHEREAS,
in lieu of the Basement Surrender Premises, Tenant desires to lease
other storage
space in the Building identified as (x) Space 2 consisting of an area of the sub-basement
containing 627 rentable square feet and (y) Space 3 consisting of an area of the sub-basement of
the Building containing 1,105 rentable square feet, and, in each case, as more particularly shown
on Exhibit A hereto (such storage areas identified as Space 2 and Space 3 contain an aggregate of
1,732 rentable square feet and are referred to herein collectively as, the “New Basement Space”),
and Owner desires to lease such New Basement Space to Tenant upon the terms set forth herein; and

     WHEREAS, Owner and Tenant have agreed to modify the terms of the Lease to provide for such
early Surrender of the Surrender Premises and leasing of the New Basement Space.

     NOW, THEREFORE, in consideration of the sum of one dollar ($1.00) and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed
as follows:

 

 

     1. Capitalized terms used and not defined in this Agreement shall have the meanings ascribed
to such terms in the Lease.

     2. Tenant shall surrender to Owner the Surrender Premises, Tenant’s leasehold interest in
such Surrender Premises and its right to use and occupancy of the Surrender Premises as of
December 31, 2007 (the “Surrender Date”).

     3. Owner shall accept Tenant’s Surrender of the Surrender Premises as of the Surrender Date
upon the following conditions:

        
  a. Tenant shall vacate the Surrender Premises by no later
than 11:59
p.m. on December 31, 2007;

          b. The Surrender Premises shall be delivered in its “AS-IS” condition
as of the date hereof, reasonable wear and tear and damage for which Tenant is otherwise
not liable excepted and otherwise free of personal property and in “broom clean”
condition.

          c. Each party agrees to and does hereby waive any and all claims
against the other relating to the Surrender Premises and the right to use and occupancy of
the Surrender Premises. This provision shall survive the termination of this Agreement;
and

          d. Tenant shall not be in monetary default under the Lease, beyond all

applicable notice and cure periods thereunder.

     4. Tenant shall continue to pay to Landlord the Fixed Annual Rent as well as any additional
rent with respect to the Office Surrender Premises through December 31, 2007, but no Fixed Annual
Rent or Basement Electricity Fee shall be payable with respect to the Basement Surrender Premises
for the period of October 1, 2007 through and including December 31, 2007.

     5. Effective as of the Surrender Date, the Lease shall be amended and modified as follows:

          a. The terms “Demised Premises”, “Office Space” and “demised
premises” shall no longer include a reference to the Office Surrender Premises and all
obligations of Tenant and Owner to the other with respect to the Office Surrender
Premises shall cease and come to an end as of such Surrender Date, except as expressly
provided herein.

          b. Owner shall lease to Tenant and Tenant shall lease from Owner,
the New Basement Space, and the terms “Demised Premises,” “Basement Space” and
“demised premises” shall no longer include a reference to the Basement Surrender
Premises and all obligations of Tenant and Owner to the other with respect to the
Basement Surrender Premises shall cease and come to an end as such Surrender Date,
except as expressly provided herein and such terms “Demised Premises,” “Basement

 

 

Space” and “demised premises” shall, from and after the Surrender Date, include a reference to the
New Basement Space.

          c. The schedule of “Fixed Annual Rent” applicable to the Office
Space set forth in Section 37J(i) of the Lease shall be amended to read, in its entirety, as
follows:

               “(i) With respect to the Office Space:

     (1) from January 1, 2008 through and including June 30, 2011, One
Million One Hundred Ninety Thousand and 00/100 Dollars ($1,190,000.00) per
annum ($99,166.67 per month);

     (2) from July 1, 2011 through and including June 30, 2016, One
Million Three Hundred Thirty-Three Thousand and 00/100 Dollars
($1,333,000.00) per annum ($110,833.33 per month); and

     (3) from July 1, 2016 through and including the Expiration Date, One
Million Four Hundred Seventy Thousand and 00/100 Dollars ($1,470,000.00)
per annum ($122,500.00 per month).”

        
  d. The definition of “Tenant’s Percentage”
appearing in Section 37M of the Lease shall be amended to read, in its entirety, as follows:

      
       
  “‘Tenant’s Percentage’ shall mean 8.50%.”

          e. The definition
of “Wage Rate Multiple” appearing in
Section 38B(iii)(7) of the Lease shall be amended to read, in its entirety, as follows:

               “Wage Rate Multiple’ shall mean 35,000.”

          f. (i) The Security Deposit and Letter of Credit required to be
maintained by Tenant as set forth in Section 59A of the Lease shall be reduced from the
amount of $1,680,000.00 to $840,000.00. Accordingly, the reference to “One Million
Six Hundred Eighty Thousand and 00/100 Dollars ($1,680,000.00)” shall be amended to
read as follows: “Eight Hundred Forty Thousand and 00/100 Dollars ($840,000.00)”,
and Owner hereby covenants and agrees that it will execute and deliver to Tenant any
necessary authorizations so as to effectuate such reduction in the Security and Letter of
Credit.

               (ii) Further, Section 59B of the Lease is hereby amended to read, in its entirety, as
follows:

“B. Notwithstanding any provisions of Article 34 or this Article 59 to
the contrary, Tenant will be permitted to reduce the amount of the
Security Deposit to (i) Six Hundred Thirty Thousand and

 

 

00/100 Dollars ($630,000.00) on or after July 1, 2009, (ii) Four Hundred
Twenty Thousand and 00/100 Dollars ($420,000.00) on or after July 1, 2012
and (iii) Two Hundred Eighty Thousand and 00/100 Dollars ($280,000.00) on
or after July 1, 2015; provided, however, that no such reduction in the
Security Deposit shall be permitted if (x) on the date of the requested
reduction any monetary default or material non-monetary default shall
exist, (y) more than twice in the preceding twenty-four (24) months Owner
shall have validly given Tenant written notice of default by Tenant in the
payment of Fixed Annual Rent or of Additional Rent due under Section 38 or
(z) Owner shall have previously drawn any portion of the Letter of Credit
in accordance with the provisions of this Article 59 other than due to
non-extension thereof by the issuing hank. Upon any such reduction, Owner
will accept a Letter of Credit, or, at the sole cost and expense of Tenant,
will consent to an amendment of the Letter of Credit reducing the amount
thereof to the proper reduced amount.”

     6. Notwithstanding anything in Article 40 or elsewhere in the Lease to the contrary, in the
event that Tenant holds over in the Office Surrender Premises after the Surrender Date, Tenant
agrees to pay as use and occupancy of the Office Surrender Premises during the period that Tenant
occupies the Office Surrender Premises after the Surrender Date, the sum of $148,750.00 for the
first thirty (30) days of any holdover, $173,541.67 for the second thirty (30) days of any
holdover and $198,333.34 for any monthly period after the first sixty (60) days of a holdover,
such sum being due without proration for any partial month in which Tenant occupies the Office
Surrender Premises. Tenant agrees that said sum is a fair and reasonable calculation of the value
of the Office Surrender Premises for the period following the Surrender Date and shall constitute
liquidated damages and Tenant shall not otherwise be in default under the Lease.

     7. Landlord and Tenant each represent and warrant to the other that no consents shall be
required by its members, shareholders, directors or lenders for the effectiveness of this
Agreement.

 

 

     8. This Agreement shall only be binding on Tenant if Owner acquires title to the Building.
Except as herein modified, all other terms and conditions of the Lease remain in full force and
effect for the duration of the lease term.

     IN WITNESS WHEREOF, Owner and Tenant have respectively signed this Agreement as of the day
and year first written.

	 	 	 	 	 
	Landlord: 	
W2007 417 Fifth Realty, LLC

 	 
	 	By:  	/s/ Joseph Moinian
 	 
	 	 	Joseph Moinian  	 
	 	 	Managing Member 	 
	 
	Tenant: 	
Atari, Inc. 

 	 
	 	By:  	/s/ DAVID R PIERCE
 	 
	 	 	Name:  	DAVID R PIERCE 	 
	 	 	Title:  	President / CEO 	 

 

 

Exhibit A

THIS
DRAWING IS FOR LEASE AREA CALCULATION PURPOSE ONLY AND NOT TO BE USED
FOR ANY CONSTRUCTION DOCUMENTS (ILLEGIBLE)

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