Document:

ex10-1.htm

 

 

Exhibit 10.1

 

CONSENT AND AMENDMENT AGREEMENT

 

This Consent and Amendment Agreement (this "Agreement") is entered into this 31st day of December, 2012, by and among Tengion, Inc., a Delaware corporation (the "Company") and each party identified on the signature pages hereto (each an "Investor" and collectively, the "Investors").

 

RECITALS

 

A.           The Company and the Investors entered into that certain Securities Purchase Agreement, dated as of October 2, 2012 (the "Purchase Agreement"), pursuant to which the Company issued and the investors party thereto (the "Investors") purchased Senior Secured Convertible Notes (the "Notes") and warrants (the "Warrants") to purchase shares of Company common stock, par value, $0.001 per share ("Common Stock").

 

B.           The Company and the Investors entered into that certain Facility Agreement, dated as of October 2, 2012 (the "Facility Agreement"), which agreement governs the terms and conditions under which the Notes were issued by the Company, including the time, form and manner of the payment of interest on the Notes and provides for certain events of default and monetary penalties upon the occurrence of certain events, including a Registration Failure (as defined in the Notes) and the failure to pay principal and interest under the Notes when due.

 

C.           The Company and the Investors entered into that certain Registration Rights Agreement, dated as of October 2, 2012 (the "Registration Rights Agreement" and together with the Purchase Agreement, Notes, Warrants and Facility Agreement, the "Applicable Transaction Documents"), which agreement imposes certain obligations on the Company to register the shares of Common Stock underlying the Notes and Warrants with the Securities and Exchange Commission (the "SEC") for resale by the Investors on or before December 31, 2012, and provides for certain monetary penalties in the event of a Registration Failure (as defined in the Registration Rights Agreement.

 

D.           The Company desires and Investors are willing to waive for a limited period of time certain of the Company's obligations under the Applicable Transaction Documents related to the timing of the Company's interest payment obligations under the Notes and Facility Agreement.

 

E.           The Company and Investors are willing to amend the Registration Rights Agreement to provide for an extension to the period of time in which the Company is obligated to have the Registration Statement declared effective by the SEC.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Investors hereby agree as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

  

 

  

 

1. Extension regarding payment of interest.  Notwithstanding any provision to the contrary in the Applicable Transaction Documents, the Company's obligation to make the interest payment under the Notes and the Facility Agreement in the aggregate amount of $369,992.48 on January 1,, 2013 (the "January 1 Interest Payment"), shall be extended to February 1, 2013.  For purposes of clarity, interest at the Interest Rate (as defined in the Facility Agreement) shall accrue on the amount of the January 1 Interest Payment until paid.  Furthermore, for purposes of calculating the number of shares of Common Stock to be issued in lieu of any cash interest payment as provided in Section 2.9(c) of the Facility Agreement, all references to Interest Payment Date shall mean, solely with respect to this January 1 Interest Payment, February 1.  Notwithstanding the change in the January 1 Interest Payment date, the Company shall, solely with respect to this January 1 Interest Payment, have no further obligation to deliver any notice of interest payment or make any public disclosure of the same on Current Report on Form 8-K as provided in Section 2.9 of the Facility Agreement.

 

2. Amendment of Registration Deadline.  The Company and the Investors, hereby amend Section 1(a)(viii) of the Registration Rights Agreement to read in its entirety as follows:

 

"(viii) "Registration Deadline" shall mean, other than the purposes of the Registration Statements required under Section 2(a)(ii), a date that is one hundred twenty (120) calendar days following the date the applicable Warrant or Note is issued and, in the case of Section 2(a)(ii) shall mean the Additional Filing Deadline."

 

All references to "Registration Deadline" in the Applicable Transaction Documents shall mean such definition, as amended by this Agreement.

 

3. Governing Law.  This Agreement shall be construed and enforced in accordance with the laws of the State of New York applicable to contracts made and to be performed in such State.

 

4. Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement may be executed and delivered by facsimile and upon such delivery the facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other party.

 

 

 

 

[Signatures on following page.]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

2

  

 

IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed by their duly authorized representatives as of the date first above written.

 

 

	
Tengion, Inc.

 

	  
	
By:   /s/ A. Briand Davis

	  
	
A. Brian Davis

	  
	
Chief Financial Officer and VP Finance

	  
	  	  
	
Deerfield Special Situations Fund, L.P.

 

	
By: Deerfield Mgmt, L.P., General Partner

	  
	
By: J.E. Flynn Capital LLC, General Partner

 

	  
	
By:   /s/ James E. Flynn

	  
	
Name:  James E. Flynn

	  
	
Title:    President

 

	  
	
Deerfield Special Situations International Master Fund, L.P.

 

	
By: Deerfield Mgmt, L.P., General Partner

	  
	
By: J.E. Flynn Capital LLC, General Partner

 

	  
	
By:   /s/ James E. Flynn

	  
	
Name:  James E. Flynn

	  
	
Title:    President

 

	  
	
RA Capital Healthcare Fund, LP

 

	  
	
By:   /s/ Peter Kolchinsky

	  
	
Name:  Peter Kolchinsky

	  
	
Title:    Manager

 

	  
	
Blackwell Partners, LLC

 

	  
	
By:   /s/ David R. Shumate

	  
	
Name:  David R. Shumate

	  
	
Title:    Executive Vice President

 

	  
	
By:   /s/ Robert E. McGrail

	  
	
Name:  Robert E. McGrail

	  
	
Title:    Director of Legal Affairs

	  

 

 

 

 

 

 

 

 

 

 

 

  

3

  

 

 

 

IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed by their duly authorized representatives as of the date first above written.

 

 

	
Celgene Corporation

 

	  
	
By:  /s/ Angus J. Grant

	  
	
Name:  Angus J. Grant

	  
	
Title:    VP Business Development

 

	  
	
Bay City Capital Fund V, L.P.

 

	  
	
By: Bay City Capital Management V LLC, its General Partner

	  
	
By: Bay City Capital LLC, its Manager

 

	  
	
By:   /s/ Carl Goldfischer

	  
	
Name:  Carl Goldfischer, MD

	  
	
Title:    Manager and Managing Director

 

	  
	
Bay City Capital Fund V Co-Investment Fund, L.P.

 

	  
	
By: Bay City Capital Management V LLC, its General Partner

	  
	
By: Bay City Capital LLC, its Manager

 

	  
	
By:   /s/ Carl Goldfischer

	  
	
Name:  Carl Goldfischer, MD

	  
	
Title:    Manager and Managing Director

 

	  
	
Dafna Lifescience LTD

 

	  
	
By:   /s/ Nathan Fischel

	  
	
Name:  Nathan Fischel

	  
	
Title:    Managing Member

 

	  
	
Dafna Lifescience Market Neutral LTD

 

	  
	
By:  /s/ Nathan Fischel

	  
	
Name:  Nathan Fischel

	  
	
Title:    Managing Member

 

	  
	
Dafna Lifescience Select LTD

 

	  
	
By:  /s/ Nathan Fischel

	  
	
Name:  Nathan Fischel

	  
	
Title:    Managing Member

	  

 

 

 

 

 

 

 

 

 

 

 

 

  

4

  

 

 

IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed by their duly authorized representatives as of the date first above written.

 

	
HealthCap IV L.P.

 

By:           HealthCap IV GP SA

 

By:           /s/ Peter Fredrikson                       

 

 

	
 

HealthCap IV Bis L.P.

 

By:           HealthCap IV GP SA

 

By:           /s/ Peter Fredrikson                       

 

 

	
HealthCap IV KB

 

By:           HealthCap IV GP AB

 

By:           /s/ Per Samuelson                         

 

By:           /s/ Jacob Gunterberg                      

 

 

	
OFCO Club IV

 

By:           Odlander, Fredrikson & Co. AM, as member

 and on behalf of all members, if any of OFCO Club IV

 

By:            /s/ Per Samuelson                         

 

By:           /s/ Jacob Gunterberg                      

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5exhibit101.htm

January 3, 2013

CRC Associates, Inc.

300 Maple Avenue, Suite 101

South Plainfield, NJ 07080

Attn:           Manisha Patel

Dear Ms. Patel:

Reference is made to that certain Share Purchase Agreement dated December 20, 2012 (the “Agreement”) by and among Shelter Express Corp. (the “Seller”) and Manisha Patel (the “Buyer”).  On December 20, 2012, and in accordance with the terms of Section 12.1(b) of the Agreement, the Seller notified the Buyer of the extension of the Closing Date (as defined in the Agreement) by fifteen (15) days to January 15, 2013.  This letter shall serve to further extend the Closing Date to and including the close of business on February 28, 2013, and the terms of the Agreement are hereby deemed to be amended accordingly.  Please acknowledge your agreement and acceptance of the foregoing where indicated below.

	  	  	 
	  	
Very truly yours,

	 
	  	  	 
	  	  	 
	  	
SHELTER EXPRESS CORP.

	 
	  	  	 
	  	  	 
	  	
By: /s/ Paul Cooper             

	 
	  	
Name: Paul Cooper

	 
	  	
Title: Vice President

	 

 

Agreed and Accepted:

MANISHA PATEL

 

	
/s/ Manisha Patel

	 

cc: David G. Polazzi, Esq.

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