Document:

Exhibit (10)(a)

    

    

    

    

    

    

    Consent of Independent Registered Public Accounting Firm

    

    

    

    

    We consent to the reference to our firm under the caption “Independent Registered Public Accounting Firm” in
      Post-Effective Amendment No. 39 to the 1933 Act Registration Statement (Form N-4 No. 333-141758) and Amendment No. 402 to the 1940 Act Registration
      Statement (Form N-4 No. 811-08441), and to the use therein of our reports dated (a) April 1, 2020, with respect to the financial statements of Lincoln
      Life & Annuity Company of New York and (b) April 15, 2020, with respect to the financial statements of Lincoln Life & Annuity Variable Annuity Account H for the
      registration of interests in a separate account under individual flexible payment deferred variable annuity contracts.

    

    

    

    

    

    

    

    

    /s/ Ernst & Young LLP

    Philadelphia, Pennsylvania

    May 15, 2020ex_186922.htm

Exhibit 10.1

 

SECOND AMENDMENT TO PROMISSORY NOTE

 

THIS SECOND AMENDMENT TO PROMISSORY NOTE (this “Second Amendment”) is made and entered into as of May 14, 2020, by and between NOVABAY PHARMACEUTICALS, INC., a Delaware corporation (the “Company”) and Pioneer Pharma (Hong Kong) Company Limited (the “Lender”).

 

Recitals:

 

A.     The Company executed and delivered to the Lender that certain Promissory Note in the original principal amount of $1,000,000 dated as of February 27, 2019 (the “Note”), pursuant to which, inter alia, the Lender agreed, subject to the terms and conditions thereof, to make the loan to the Company.

 

B.      Pursuant to the First Amendment to Promissory Note (the “First Amendment”), dated June 25, 2019, the Note was amended to extend the maturity date from July 27, 2019 to July 1, 2020 and increase the interest payment from $150,000 to $300,000.

 

C.      Recently, the Company began purchasing KN95 masks from Earntz Nonwoven Co., Ltd. and selling such KN95 masks with the Lender and its affiliates acting as intermediaries in facilitating such distribution.

 

D.      In order to continue facilitating the distribution of the KN95 masks by the Company, the Lender has requested, and the Company’s Board of Directors has agreed, to repay the principal amount of the Note early so the Lender will have additional cash on hand to fund the KN95 mask purchases.

 

E.      The Company has determined to use the proceeds raised from certain at-the-market equity offerings, pursuant to the At the Market Offering Agreement, dated April 27, 2020, with Ladenburg Thalmann & Co. Inc., to repay such principal amount.

 

 

 

 

F.      The Company has also agreed to provide the Lender or its affiliates 65,178 units of NeutroPhase (40ml) at no charge, inclusive of 40,644 units delivered in March 2020 with an additional 24,534 units expected to be delivered to the Lender in the third quarter of 2020 and the fulfillment of such agreement constituting the “Interest Payment” under the Note.

 

G.     Subject to the terms and conditions of this Second Amendment, the Company and the Lender wish to memorialize such understanding.

 

Agreements:

 

NOW, THEREFORE, in consideration of the foregoing Recitals and the mutual agreements hereinafter set forth, the Company and the Lender hereby agree as follows:

 

1.     Amendments to the Note.

 

(A) The “Interest Payment” set forth in the first paragraph of the Note, as amended by the First Amendment, is hereby further amended by deleting the words “together with interest of Three Hundred Thousand US Dollars (US$300,0000) (the “Interest Payment”).” therefrom and inserting the words “and to deliver to the Lender, or an affiliate of the Lender, 65,178 units of NeutroPhase (40ml) as interest under the Note (the “Interest”).” in their stead.

 

(B) The phrase “upon certain events occurring” is hereby deleted from the second paragraph of the Note.

 

(C) The defined term “the Interest Payment” set forth in the third paragraph of the Note is hereby amended by replacing such defined term with “the Interest”.

 

(D) The phrase “and the Interest Payment of this Note” set forth in Section 3.08 is hereby amended by replacing such phrase with “and deliver the Interest of this Note”.

 

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(E) Section 5.01(b) is hereby amended in its entirety and replaced with the following: “the Company shall fail to deliver the Interest or pay any fees or other amounts on the Loan when due and such failure shall continue for ten (10) business days; or”.

 

(F) The phrase “, together with the Interest Payment,” is hereby deleted from Section 5.01.

 

(G) The phrase “in any payment of principal of this Note or the Interest Payment” set forth in Section 5.03 is hereby amended by replacing such phrase with “in any payment or delivery, as applicable, of principal of this Note or the Interest”.

 

(H) Section 6.01 is hereby deleted in its entirety and replaced with “Voluntary Prepayment. The Company shall have the right to prepay any or all of the outstanding principal of this Note without premium or charge.”

 

(I) The phrase “and the Interest Payment” is hereby deleted from Section 6.02.

 

2.     Effective Date; Conditions Precedent. The modifications to the Note set forth in Paragraph 1 above shall not be effective unless and until the date on which the Company has satisfied all of the following conditions precedent (such date of effectiveness being the “Effective Date”): on the Effective Date and after giving effect to the amendment contained herein (i) there shall exist no Event of Default, and (ii) the representations and warranties of the Company under the Note, as amended by the First Amendment and this Second Amendment, shall be true and correct as of the Effective Date, subject only to variances therefrom acceptable to the Lender.

 

3.     Other Loan Documents. Any reference to the Note in any other documents executed and delivered pursuant to or in connection with the Note shall, from and after the Effective Date, be deemed to refer to the Note, as modified by the First Amendment and this Second Amendment.

 

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4.     Confirmation of Debt. The Company hereby affirms all of its liabilities and obligations to the Lender under the Note, as modified by the First Amendment and this Second Amendment, and that such liabilities and obligations are owed to the Lender. The Company further acknowledges and agrees that as of the date hereof, it has no claims, defenses or set-off rights against the Lender of any nature whatsoever, whether sounding in tort, contract or otherwise; and there are no claims, defenses or set-offs to the enforcement by the Lender of the liabilities and obligations of the Company to the Lender under the Note.

 

5.     No Other Modifications; Same Indebtedness. Except as expressly provided in the First Amendment and this Second Amendment, all of the terms and conditions of the Note remain unchanged and in full force and effect. The modifications effected by the First Amendment, this Second Amendment and by the other instruments contemplated hereby shall not be deemed to provide for or effect a repayment and re-advance of any of the loans now outstanding, it being the intention of the Company and the Lender hereby that the indebtedness owing under the Note, as amended by the First Amendment and this Second Amendment, be and hereby is the same Indebtedness as that owing under the Note immediately prior to the effectiveness hereof.

 

6.     Governing Law; Binding Effect. This Second Amendment shall be governed by and construed in accordance with the laws of the State of Delaware and shall be binding upon and inure to the benefit of the Company and the Lender and their respective successors and assigns.

 

7.     Counterparts. This Second Amendment may be executed in separate counterparts, each of which shall be deemed to be an original, and all of which together shall be deemed a fully executed agreement.

 

[The remainder of this page is intentionally left blank.]

 

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IN WITNESS WHEREOF, the Company and the Lender have hereunto set their hands as of the date first above written.

 

 

 

	
			 

				
			NOVABAY PHARMACEUTICALS, INC.

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Justin Hall

				
			 

			
	
			 

				
			Name: 

				
			Justin Hall

				
			 

			
	
			 

				
			Title: 

				
			President & Chief Executive Officer and General Counsel

				
			 

			

 

 

 

	
			 

				
			Pioneer Pharma (Hong Kong) Company Limited 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Liu Xuefeng

				
			 

			
	
			 

				
			Name: 

				
			Liu Xuefeng - Authorized by Mr. Li Xinzhou

				
			 

			
	
			 

				
			Title: 

				
			B.D. Directorbdco_ex101

 

 Exhibit 10.1

AMENDED AND RESTATED OPERATING AGREEMENT

 

 

THIS
AMENDED AND RESTATED OPERATING AGREEMENT (this “Amended and
Restated Agreement”) is effective as of April 1, 2020
(the “Effective
Date”), by and between Lazarus Energy Holdings, LLC, a
Delaware limited liability company (“LEH”),
Blue Dolphin Energy Company, a Delaware corporation
(“Blue
Dolphin”), Lazarus Energy, LLC, a Delaware limited
liability company (“LE”),
Lazarus Refining & Marketing, LLC, a Delaware limited liability
company (“LRM”),
Nixon Product Storage, LLC, a Delaware limited liability company
(“NPS”),
Blue Dolphin Pipe Line Company, a Delaware corporation
(“BDPL”),
Blue Dolphin Petroleum Company, a Delaware corporation
(“BDPC”)
and Blue Dolphin Services Co., a Texas corporation
(“BDSC”).
(LEH, Blue Dolphin, LE, LRM, NPS, BDPL, BDPC and BDSC are
collectively referred to herein as the “Parties”).

 

W I T N
E S S E T H:

 

WHEREAS, Blue
Dolphin, LE, LRM, NPS, BDPL, BDPC and BDSC desire to engage LEH to
manage and operate the companies thereto, and LEH has previously
provided management services in the areas of operations and
management of the business of certain of the companies thereto
(collectively the “Services”); and

 

WHEREAS, following
the expiration of the Amended and Restated Operating Agreement
dated April 1, 2017, by and among LEH, LE and Blue Dolphin, the
agreement between the parties requires evaluation and
renewal.

 

NOW,
THEREFORE, in consideration of the premises and the mutual
covenants contained herein, the Parties hereto agree as
follows:

 

1.         
Commencing on the Effective Date and throughout the Term of this
Amended and Restated Agreement, LEH agrees to
perform the Services in the interest of Blue Dolphin, LE, LRM, NPS,
BDPL, BDPC and BDSC, subject to the terms and conditions stated
herein. The Services shall be performed on a continuing basis
without any further specific requests or instructions.

 

2.           For
the purposes of certainty, it is understood and agreed that the
term “Services” does not include any activities that
can be exercised by LEH as a shareholder and the Services shall be
provided in a way that is independent of any such
shareholding.

 

3.          
Quality. The
Services provided by LEH hereunder shall be provided in a good and
workmanlike manner in accordance with prevailing industry
standards.

 

 

 

 

 

4.           
Compensation. In
consideration for the Services hereunder:

 

(a)           
Blue Dolphin, LE, LRM, NPS, BDPL, BDPC and BDSC shall reimburse LEH
at cost for all direct expenses, either paid directly by LEH or
financed with LEH’s credit card. Amounts payable to LEH shall
be invoiced by LEH weekly, but may be reimbursed
sooner.

 

(b)           
Blue Dolphin shall also pay to LEH a management fee equal to 5% of
all consolidated operating costs, excluding crude costs,
depreciation, amortization and interest (the “Management
Fee”).

 

5.           
Term. The
“Term” of this Amended and Restated Agreement shall
begin on the Effective Date and shall expire upon the earliest to
occur of the following:

 

(a)           
Upon the third anniversary of the Effective Date, which termination
date shall be April 1, 2023.

 

(b)           
Upon written notice of either party upon the material breach of
this Amended and Restated Agreement by the other
party.

 

(b)           
Upon 90 days’ notice by the Board of Directors of Blue
Dolphin (the “Board”)
if the Board determines that this Amended and Restated Agreement is
not in the best interest of Blue Dolphin, LE, LRM, NPS, BDPL, BDPC
and/or BDSC.

 

The
termination of this Amended and Restated Agreement shall not affect
the survival of Section 6 of this Amended and Restated
Agreement.

 

6.           
Indemnification.

 

(a)           
LEH will indemnify, defend and hold harmless Blue Dolphin, LE, LRM,
NPS, BDPL, BDPC, BDSC, and their affiliates, and their respective
officers, directors and employees, from and against any claim or
liability arising from the negligence or willful misconduct of LEH,
or from any injury suffered or alleged to be suffered by any
employee of LEH.

 

(b)           
Blue Dolphin, LE, LRM, NPS, BDPL, BDPC and BDSC will indemnify,
defend and hold harmless LEH, its affiliates, and their respective
officers, directors and employees, from and against any claim or
liability arising from the negligence or willful misconduct of Blue
Dolphin, LE, LRM, NPS, BDPL, BDPC or BDSC.

 

7.           Remedies.
If any legal action or other proceeding is brought for the
enforcement of this Amended and Restated Agreement, or because of
an alleged dispute, breach, default or misrepresentation in
connection with any of the provisions of this Amended and Restated
Agreement, the successful or prevailing party or parties shall be
entitled to recover reasonable attorneys' fees and other costs
incurred in that action or proceeding in addition to any other
relief to which it or he may be entitled at law or
equity.

 

 

 

 

8.           Successors.
This Amended and Restated Agreement shall be binding upon each of
the Parties upon their execution, and inure to the benefit of the
Parties hereto and their successors and assigns. Any assignee
whatsoever will be bound by the obligations of the assigning party
under this Amended and Restated Agreement, and any assignment shall
not diminish the liability or obligation of the assignor under the
terms of this Amended and Restated Agreement unless otherwise
agreed.

 

9.           Severability.
In the event that any one or more of the provisions contained in
this Amended and Restated Agreement or in any other instrument
referred to herein, shall, for any reason, be held to be invalid,
illegal, or unenforceable in any respect, such invalidity,
illegality, or unenforceability shall not affect any other
provision of this Amended and Restated Agreement or any such other
instrument.

 

10.       
  Paragraph
Headings. The paragraph headings used herein are descriptive
only and shall have no legal force or effect
whatsoever.

 

11.         
Gender. Whenever
the context so requires, the masculine shall include the feminine
and neuter, and the singular shall include the plural and
conversely.

 

12.         
Governing Law. This
Amended and Restated Agreement shall be governed by and construed
in accordance with the laws of the state of Texas applicable to
agreements and contracts executed and to be wholly performed there,
without giving effect to the conflicts of law principles thereof.
Venue for any action brought in connection herewith shall lie in
Harris County, Texas.

 

13.           Remedies.
In the event of any action, dispute or litigation from the Parties
hereto relating to the interpretation or enforcement of this
Amended and Restated Agreement or otherwise relating to the subject
matter hereof, the prevailing party shall be entitled to recover
reasonable attorneys’ fees and court costs.

 

14.           Multiple
Counterparts. This Amended and Restated Agreement may be
executed in multiple counterparts, each of which shall be deemed an
original.

 

15.        
  Waiver. Any
waiver by either party to be enforceable must be in writing and no
waiver by either party shall constitute a continuing
waiver.

 

16.           Cross
References. References in this Amended and Restated
Agreement to Articles, Sections, Exhibits, or Schedules shall be
deemed to be references to Articles, Sections, Exhibits, and
Schedules of this Amended and Restated Agreement unless the context
specifically and expressly requires otherwise.

 

17.         
Entire Agreement.
This Amended and Restated Agreement and the other agreements
referred to herein set forth the entire understanding of the
Parties hereto relating to the subject matter hereof and thereof
and supersede all prior agreements and understandings among or
between any of the Parties relating to the subject matter hereof
and thereof.

 

[Remainder of page intentionally left blank; signature page to
follow.]

 

 

 

 

IN
WITNESS WHEREOF, the Parties have executed this Amended and
Restated Agreement as of the date and year first set forth
above.

 

 

 

	

BLUE DOLPHIN ENERGY COMPANY

	
 

	

LAZARUS ENERGY HOLDINGS, LLC

	
 

	
 

	
 

	

/s/
JONATHAN P. CARROLL

	
 

	

/s/
JONATHAN P. CARROLL

	

Jonathan
P. Carroll

	
 

	

Jonathan
P. Carroll

	

President

	
 

	

Managing
Member

	
 

	
 

	
 

	

LAZARUS ENERGY, LLC

	
 

	
 

	
 

	
 

	
 

	

/s/
JONATHAN P. CARROLL

	
 

	
 

	

Jonathan
P. Carroll

	
 

	
 

	

President

	
 

	
 

	
 

	
 

	
 

	

LAZARUS REFINING & MARKETING, LLC

	
 

	
 

	
 

	
 

	
 

	

/s/
JONATHAN P. CARROLL

	
 

	
 

	

Jonathan
P. Carroll

	
 

	
 

	

President

	
 

	
 

	
 

	
 

	
 

	

NIXON PRODUCT STORAGE, LLC

	
 

	
 

	
 

	
 

	
 

	

/s/
JONATHAN P. CARROLL

	
 

	
 

	

Jonathan
P. Carroll

	
 

	
 

	

President

	
 

	
 

	
 

	
 

	
 

	

BLUE DOLPHIN PIPE LINE COMPANY

	
 

	
 

	
 

	
 

	
 

	

/s/
JONATHAN P. CARROLL

	
 

	
 

	

Jonathan
P. Carroll

	
 

	
 

	

President

	
 

	
 

	
 

	
 

	
 

	

BLUE DOLPHIN PETROLEUM COMPANY

	
 

	
 

	
 

	
 

	
 

	

/s/
JONATHAN P. CARROLL

	
 

	
 

	

Jonathan
P. Carroll

	
 

	
 

	

President

	
 

	
 

	
 

	
 

	
 

	

BLUE DOLPHIN SERVICES CO.

	
 

	
 

	
 

	
 

	
 

	

/s/
JONATHAN P. CARROLL

	
 

	
 

	

Jonathan
P. Carroll

	
 

	
 

	

President

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