Document:

EXHIBIT 10.29(a)

 

FIRST AMENDMENT TO SECURED PROMISSORY NOTE

 

This First
Amendment to Secured Promissory Note (the “Amendment”)
effective as of December 29, 2005, is entered into between Vincent Angotti (the
“Maker”) and Reliant Pharmaceuticals,
Inc. a Delaware company (as successor to Reliant Pharmaceuticals, LLC) or its
assigned (the “Payee”).

 

WITNESSETH:

 

WHEREAS, the Maker and the Payee entered into
a Secured Promissory Note dated May 11, 2001 (the “Note”)
in the original principal amount of $200,000; and

 

WHEREAS, the Maker and the Payee wish to
further amend the Note in the manner set forth herein to modify the maturity of
the Note.

 

NOW THEREFORE, in exchange for the agreements
set forth herein, and good and valuable consideration the receipt and sufficiency
of which are hereby acknowledged, the Maker and the Payee hereby amend Section
4(a) of the Note by deleting the text thereof in its entirety, and substituting
the following in lieu thereof:

 

(a)          Principal
Interest and Enforcement Costs. Subject to Section 5(b) and 7 below, (i) the
outstanding principal amount of this Note, (ii) all accrued and unpaid interest
thereon and (iii) all of Payee’s costs and expenses (including reasonable fees
and expenses of Payee’s attorneys, accountants and other professional
commitments) of enforcing this Note (“Enforcement Costs”), shall be due and
payable in full on the earliest to occur of (A) March 31, 2007 or (B) any
acceleration of the Obligations pursuant to Sections 6 and 7 below (each such
event, the “Maturity”); provided however that in the event that as of March 31,
2007 (i) Maker is subject to an enforceable Lock-Up Agreement prohibiting the
transfer of Collateral (as dated in the Collateral Assignment Agreement
executed by Maker) and (ii) the Obligations have not been accelerated in
accordance with (B) hereof, the Note shall become due and payable in full on
the first business day following expiration of the Lock-Up Agreement. All
amounts due under this Note, including, without limitation, principal, interest
and Enforcement Costs are collectively referred to herein as the “Obligations”.

 

IN WITNESS WHEREOF, Maker and Payee have
executed this First Amendment as of the day and year first above written.

 

 

	
   

  	
  RELIANT PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Title:

  	
  Michael J. Lerner

  
	
   

  	
   

  	
  Vice President, Legal Affairs

  
	
   

  	
   

  
	
  Address:

  	
  Address:

  
	
  12 Castle Court

  	
   

  	
  110 Allen Road

  
	
  Randolph, N.J. 07869

  	
  Liberty Corner, NJ 07938

  
	
  Initials:

  	
  Initials:EXHIBIT 10.29(b)

 

SECOND AMENDMENT TO

 

SECURED PROMISSORY NOTE

 

This
Second Amendment to Secured Promissory Note (the “Amendment”),
dated as of March 29, 2007 is entered into between Vincent Angotti (the “Maker”) and Reliant Pharmaceuticals, Inc., a Delaware
corporation (as successor to Reliant Pharmaceuticals, LLC) or its assignee (the
“Payee”).

 

WITNESSETH:

 

WHEREAS,
the Maker and the Payee entered into a Secured Promissory Note dated May 11,
2001 (the “Note”) in the original principal amount of $200,000;

 

WHEREAS,
Maker and Payee entered into a First Amendment to Secured Promissory Note
effective as of December 29, 2005; and

 

WHEREAS,
the Maker and Payee wish to amend the Note further in the manner set forth
herein to modify the maturity of the Note.

 

NOW,
THEREFORE, in exchange for the agreements set forth herein, and good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Maker and Payee hereby amend Section 4(a) of the Note effective
as of March 29, 2007 by deleting the text thereof in its entirety, and
substituting the following in lieu thereof:

 

(a)           Principal;
Interest and Enforcement Costs. Subject to Section 5(b) and 7 below, (i)
the outstanding principal amount of this Note, (ii) all accrued and unpaid
interest thereon and (iii) all of Payee’s costs and expenses (including
reasonable fees and expenses of Payee’s attorneys, accountants and other
professional commitments) of enforcing this Note (“Enforcement
Costs”), shall be due and payable in full on the earliest to occur
of (A) March 31, 2008, or (B) any acceleration of the Obligations pursuant to
Sections 6 and 7 below (each such event, the “Maturity”);
provided however that in the event that as of March 31, 2008 (i) Maker is
subject to an enforceable Lock-Up Agreement prohibiting the transfer of
Collateral (as dated in the Collateral Assignment Agreement executed by Maker)
and (ii) the Obligations have not been accelerated in accordance with (B)
hereof, the Note shall become due and payable on the first day following
expiration of the Lock-Up Agreement. All amounts due under this Note,
including, without limitation, principal, interest and Enforcement Costs are
collectively referred to herein as the “Obligations.”

 

IN
WITNESS WHEREOF, Maker and Payee have executed this Third Amendment as of the
day and year first written above.

 

	
  MAKER:

  	
  PAYEE:

  
	
   

  	
   

  
	
   

  	
  RELIANT
  PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
  Vincent
  Angotti

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
  Address:

  	
  Address:

  
	
   

  	
   

  
	
  12
  Castle Court

  	
  110
  Allen Road

  
	
  Randolph,
  NJ 07869

  	
  Liberty
  Corner, NJ 017938EXHIBIT 10.30

 

COLLATERAL
ASSIGNMENT

 

COLLATERAL
ASSIGNMENT, dated as of May       , 2001 (this “Agreement”), by and between Reliant Pharmaceuticals, LLC, a
Delaware limited liability company (“Secured Party”),
and Vincent Angotti (“Assignor”).

 

W  I  T
N  E  S  S  E  T  H:

 

WHEREAS,
pursuant to the terms of that certain Secured Promissory Note, dated the date
hereof (the “Note”), made by Assignor in favor
of Secured Party, Secured Party has agreed to loan funds to Assignor in
accordance with the terms of said Note; and

 

WHEREAS, as a
condition to Secured Party’s loaning funds to Assignor under the Note, Assignor
has agreed to collaterally assign and grant to Secured Party a security
interest in and to the Collateral (as defined below) upon the terms and
conditions set forth herein to secure Assignor’s obligations to Secured Party
under the Note.

 

NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and agreements hereinafter set forth, and of other good and valuable
consideration, the receipt, adequacy and sufficiency of which are hereby
acknowledged, the parties hereby represent, warrant and agree as follows:

 

1.             Collateral
Assignment; Grant of Security Interest. As collateral security for the full
and timely payment, performance and observance of all obligations of the
Assignor to Secured Party under the Note, Assignor hereby collaterally assigns
and grants to Secured Party a first priority security interest in and to the
following:

 

(a)           all ownership and equity interests
and rights to acquire ownership and equity interests (including restricted
units) in Reliant Pharmaceuticals, LLC (and its successors, the “Company”) now owned or hereafter acquired by Assignor,
including, without limitation, Assignor’s Membership Interest and Capital
Account (each as defined in the Company’s Limited Liability Company Operating
Agreement dated as of July 6, 2000, as the same may be amended, restated,
modified or supplemented from time to time, the “Operating
Agreement”) in the Company (collectively, the “Assigned
Interests”), and all proceeds, securities, distributions, rights and
other property at any time or from time to time received, receivable or
otherwise distributed to Assignor in respect of or in exchange for the Assigned
Interests; and

 

(b)           all
other property hereafter delivered to Assignor in substitution for or in
addition to any of the foregoing, all proceeds, securities, distributions,
rights and other property at any time received, receivable or otherwise
distributed in respect of or in exchange for any or all thereof, including,
without limitation, any interests of Assignor hereafter acquired in any
subsidiaries or affiliates of the Company.

 

The Assigned Interests and the items and proceeds
received in respect thereof or in exchange therefor shall be collectively
referred to as the “Collateral”.

 

2.             Deliveries; Further Assurances.
Assignor further agrees to execute and deliver to Secured Party such Uniform
Commercial Code (“UCC”) financing
statements and other

 

 

documents
and instruments and to take such further actions as may be reasonably necessary
or appropriate in the opinion of Secured Party in order to perfect and maintain
the collateral assignment and first priority security interest granted hereby. In
furtherance thereof, Assignor agrees that the provisions of this paragraph
shall constitute a security agreement and hereby authorizes Secured Party to
file any such UCC financing statements on behalf of Assignor, and to execute
and file any and all continuation statements or amendments thereto as the
Secured Party shall determine to be in the best interests of Secured Party. Assignor
agrees that a carbon, photographic or other reproduction of this Agreement or
any such UCC financing statement is sufficient for filing as a financing
statement by Secured Party. Secured Party shall provide Assignor of a copy of
any such filing.

 

3.             Voting Power; Distributions.
So long as there shall exist no condition, event or act which constitutes, or
with notice or lapse of time (following the expiration of any permitted cure
period) or both, would constitute, an Event of Default (as defined herein),
Assignor shall be entitled to (a) exercise any and all voting rights with
respect to the Assigned Interests and, (b) subject to the terms of the Note,
receive and retain for Assignor’s own account any and all distributions made
with respect to the Assigned Interests which Assignor is otherwise entitled to
receive; provided, however, that any and all
liquidating distributions, distributions in property, returns on or in respect
of the Assigned Interests, whether resulting from a subdivision, combination or
reclassification of any of the Assigned Interests or received in exchange for
any of the Assigned Interests, or as a result of any merger, consolidation,
acquisition or other exchange affecting any of the Assigned Interests, and any
and all cash and other property received in exchange for any Collateral shall
be and become part of the Collateral pledged hereunder and, if received by
Assignor, shall forthwith be delivered to Secured Party (accompanied, if
appropriate, by proper instruments of assignment and/or transfer powers
executed by Assignor in accordance with Secured Party’s instructions) to be
held subject to the terms of this Agreement.

 

4.             Representations
and Warranties of Assignor. Assignor hereby makes the following
representations and warranties to Secured Party, which representations and
warranties shall survive the execution and delivery of this Agreement:

 

(a)           Assignor has good title to all of the
Assigned Interests, free and clear of all liens, charges, claims and
encumbrances whatsoever, other than any lien or security interest created or
granted hereunder;

 

(b)           Assignor has not taken and shall not
take or permit to be taken any action, to the extent such action is within
Assignor’s control, which would unreasonably impair the value of the Collateral
or of any part thereof or the security intended to be afforded by this
Agreement;

 

(c)           except as provided in the Exercise
Notice and Restricted Unit Agreement between Assignor and the Company, there
are no commitments, options, contracts or other arrangements under which
Assignor is or may become obligated to sell, pledge, encumber, transfer,
assign, hypothecate, or otherwise dispose of all or any portion of the Assigned
Interests; and

 

2

 

(d)           there
are no restrictions on the transfer of the Assigned Interests, other than (i)
as are created by this Agreement, (ii) as may exist under applicable law and
(iii) pursuant to the Exercise Notice, Restricted Unit Agreement between
Assignor and the Company and the Operating Agreement.

 

5.             Additional
Covenants of Assignor. Assignor hereby covenants to Secured Party that
prior to the discharge and cancellation of the Note:

 

(a)           Assignor will deliver to Secured
Party from time to time upon request of Secured Party such documents of
assignment and transfer with respect to the Collateral, in form and substance
satisfactory to Secured Party, as Secured Party may reasonably request; and

 

(b)           Assignor
will not assign, sell or otherwise transfer, further pledge, hypothecate or
dispose of all or any portion of the Assigned Interests, except with the prior
written consent of Secured Party.

 

6.             Default.

 

(a)           Under
the terms of this Agreement, an “Event of Default”
shall be deemed to have occurred if a default or event of default has occurred
and is continuing under the Note.

 

(b)           Upon the occurrence of an Event of
Default, Secured Party shall have, and may exercise, all rights and remedies of
a secured party under the Uniform Commercial Code as enacted in the State of
New Jersey and/or any other applicable jurisdiction. In addition thereto,
Secured Party may, to the extent permitted by law, sell the Collateral, or any
part thereof, which is in the proper possession of Secured Party at any public
or private sale for cash or upon credit, as Secured Party shall deem
appropriate, and may purchase all or any part of such Collateral at such public
or private sale. Secured Party shall use its reasonable efforts to obtain the
maximum available price for the Collateral pursuant to any such sale. Secured
Party shall give Assignor at least ten (10) days’ written notice of the
intention of Secured Party to make any such sale and such notice, in case of
public sale, shall state the time and place fixed for such sale. Any public
sale shall be held at such time or times within ordinary business hours and at
such place or places as Secured Party may fix in the notice of such sale. At
any such public or private sale, the Collateral, or the part thereof to be
sold, may be sold in one lot as an entirety or in separate parcels, as Secured
Party may (in its sole discretion) determine. After deduction for the costs
incurred by Secured Party in connection with the sale of the Collateral,
including reasonable legal fees and expenses, the net proceeds received from
such sale shall be applied by Secured Party toward the payment of the
Obligations (as defined in the Note).

 

(c)           With respect to the actions described
in Section 6(b) above, Assignor hereby irrevocably constitutes and appoints
Secured Party as Assignor’s proxy and attorney-in-fact with full power of
substitution and acknowledges that the constitution and appointment of such
proxy and attorney-in-fact are coupled with an interest and are irrevocable.

 

(d)           Assignor agrees to do such further
acts and things, and to execute and deliver such additional conveyances,
assignments, agreements and instruments, as Secured Party may reasonably
request, in connection with the administration or enforcement of this
Agreement.

 

3

 

7.             Term of Collateral Assignment;
Redelivery of Assigned Interests. The Collateral shall remain collaterally
assigned until full cancellation and discharge of the Note. Upon the full
cancellation and discharge of the Note, Secured Party shall deliver to Assignor
all documents evidencing the collateral assignment and security interest
created hereunder and the collateral assignment of the Collateral and the
security interest granted to Secured Party therein shall thereupon terminate.

 

8.             Notices
and Other Communications. Every notice or other communication required or
desired to be given hereunder shall be in writing and shall be delivered either
by personal delivery, telegram, a nationally recognized courier service,
postage-prepaid certified or registered mail, return receipt requested, or
facsimile transmission with acknowledgment of receipt, addressed to the party
to whom intended at the following address:

 

	
   

  	
  (a)

  	
  if to
  Assignor:

  	
   

  	
  To the
  address set forth in the Note

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (b)

  	
  if to Secured Party:

  	
   

  	
  Reliant
  Pharmaceuticals, LLC

  
	
   

  	
   

  	
   

  	
   

  	
  110 Allen Road

  Liberty Corner, New
  Jersey  07938

  Attention:  Chief Financial Officer

  Telecopy
  No.: 908/542-9405

  

 

or at such other address
as the intended recipient previously shall have designated by written notice. Notice
by courier or certified or registered mail shall be effective on the date it is
officially recorded as delivered to the intended recipient by return receipt or
or similar acknowledgement, or the date of attempted delivery where delivery is
refused by the intended recipient. All notices and communications delivered in
person shall be deemed to have been delivered to and received by the addressee,
and shall be effective, on the date of personal delivery. Any notice
transmitted by telegram or facsimile transmission shall be deemed to have been
delivered to and received by the addressee, and shall be effective, on the date
said notice is delivered to the telegram company for transmission or received
by the recipient, respectively.

 

9.             Assignment. Neither this
Agreement nor the rights and duties of Assignor hereunder may be assigned by
Assignor without the prior written consent of the Secured Party.

 

10.           Binding Effect. This Agreement
shall be binding upon, and inure to the benefit of, the parties hereto and
their respective successors and assigns.

 

11.           Severability. If any provision
of this Agreement is prohibited by or unenforceable under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity
without invalidating the remainder of such provision or the remaining
provisions of this Agreement.

 

12.           Headings. The descriptive
headings of the sections of this Agreement are inserted for convenience of
reference only and shall not control or affect the meaning or construction of
any provisions hereof.

 

4

 

13.           Governing Law. This Agreement
shall be construed in accordance with and governed by the laws of the State of
New Jersey without regard to the conflict of laws principles thereof.

 

14.           Pronouns. As used herein, all
pronouns shall include the masculine, feminine, neuter, singular and plural
wherever the context and facts require such construction.

 

15.           Jurisdiction; Service of Process;
Waiver of Jury Trial. Assignor hereby submits to the nonexclusive
jurisdiction of the United States Federal and State of New Jersey courts for
all purposes of or in connection with this Agreement; provided that nothing in
this Agreement shall affect Secured Party’s right to bring any action or
proceeding against Assignor or Assignor’s property in the courts of any other
jurisdiction. Assignor hereby consents to process being served in any suit,
action or proceeding of the nature referred to above either (a) by the mailing
of a copy thereof by registered or certified mail, postage prepaid, return
receipt requested, to its address shown below its signature hereto or (b) by
serving a copy thereof upon Assignor’s authorized agent for service of process
(to the extent permitted by applicable law, regardless whether the appointment
of such agent for service of process for any reason shall prove to be
ineffective or such agent for service of process shall accept or acknowledge
such service); provided that, to the extent lawful and practicable, written
notice of said service upon said agent shall be mailed by registered or
certified mail, postage prepaid, return receipt requested, to Assignor at
Assignor’s address shown below its signature hereto. Assignor agrees that such
service, to the fullest extent permitted by law, (i) shall be deemed in every
respect effective service of process upon it in any such suit, action or
proceeding and (ii) shall be taken and held to be valid personal service upon
and personal delivery to Assignor. Nothing herein shall affect Secured Party’s
right to serve process in any other manner permitted by law, or limit Secured
Party’s right to bring proceedings against Assignor in the courts of any other
jurisdiction.

 

ASSIGNOR HEREBY IRREVOCABLY WAIVES ANY RIGHT TO
TRIAL BY JURY IN ANY ACTION OR PROCEEDING (I) TO ENFORCE OR DEFEND ANY RIGHTS
UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY AMENDMENT, INSTRUMENT,
DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN
CONNECTION HEREWITH, OR (II) ARISING FROM ANY DISPUTE OR CONTROVERSY IN
CONNECTION WITH OR RELATED TO THIS AGREEMENT, AND AGREES THAT ANY SUCH ACTION
OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

 

5

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the day and year first written above.

 

	
   

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Vincent Angotti

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SECURED PARTY:

  
	
   

  	
   

  
	
   

  	
  RELIANT
  PHARMACEUTICALS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
				

 

[SIGNATURE PAGE TO COLLATERAL ASSIGNMENT]

 

6

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