Document:

EX-10.2

 Exhibit 10.2 

Second Amendment to 

Common Stock Purchase Agreement 
 This
Second Amendment to Common Stock Purchase Agreement (the “Second Amendment”) is made and entered into as of the 26th day of February, 2021 (the “Second Amendment Effective Date”) by and between RECRO PHARMA,
INC., a Pennsylvania corporation (the “Company”), and ASPIRE CAPITAL FUND, LLC, an Illinois limited liability company (the “Buyer”). 

WHEREAS: 
 The Company and the Buyer entered into that
certain Common Stock Purchase Agreement (the “CSPA”) dated as of February 19, 2019 as amended by that certain First Amendment to Common Stock Purchase Agreement (the “First Amendment”) dated as of
August 7, 2020 (the CSPA and the First Amendment collectively referred to as the “Agreement”). The Company and the Buyer now desire to amend the Agreement, however, only as set forth in this Second Amendment. 

NOW THEREFORE, the Company and the Buyer hereby agree as follows: 
  

	1.	 The introductory recital of the Agreement is deleted in its entirety and replaced by the following:

 Subject to the terms and conditions set forth in this Agreement, the Company wishes to sell to the Buyer, and the Buyer wishes to buy
from the Company, up to Forty One Million One Hundred Seventy One Thousand Seven Hundred Thirty Eight Dollars ($41,171,738) of the Company’s common stock, par value $0.01 per share (the “Common Stock”). The shares of Common
Stock to be purchased hereunder are referred to herein as the “Purchase Shares.” 
  

	2.	 Section 1(h) of the Agreement is deleted in its entirety and replaced by the following: 

Compliance with Principal Market Rules. Notwithstanding anything in this Agreement to the contrary, and in addition to the limitations set forth in
Section 1(e), the total number of shares of Common Stock that may be issued under this Agreement on or after the date of the Second Amendment shall be limited to 6,199,299 shares of Common Stock (the “Exchange Cap”), which
equals 19.99% of the Company’s outstanding shares of Common Stock as of the date hereof, unless stockholder approval is obtained to issue more than such 19.99%. The Exchange Cap shall be appropriately adjusted for any reorganization,
recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. The foregoing limitation shall not apply if stockholder approval has not been obtained and at any time the
Exchange Cap is reached and at all times thereafter the average price paid for all shares of Common Stock issued under this Agreement is equal to or greater than $3.43 (the “Minimum Price”), a price equal to the lower of
(1) the Closing Sale Price immediately preceding the execution of this Agreement or (2) the arithmetic average of the five (5) Closing Sale Prices for the Common Stock immediately preceding the execution of this Agreement (in such
circumstance, for purposes of the Principal Market, the transaction 

  
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contemplated hereby would not be “below market” and the Exchange Cap would not apply). The Minimum Price shall be appropriately adjusted for any reorganization, recapitalization,
non-cash dividend, stock split, reverse stock split or other similar transaction. Notwithstanding the foregoing, the Company shall not be required or permitted to issue, and the Buyer shall not be required to
purchase, any shares of Common Stock under this Agreement if such issuance would violate the rules or regulations of the Principal Market. The Company may, in its sole discretion, determine whether to obtain stockholder approval to issue more than
19.99% of its outstanding shares of Common Stock hereunder if such issuance would require stockholder approval under the rules or regulations of the Principal Market. 
  

	3.	 Section 4(a) of the Agreement is deleted in its entirety and replaced by the following: 

Filing of Form 8-K and Prospectus Supplement. The Company agrees that it shall, within the time required under
the 1934 Act, file a Current Report on Form 8-K disclosing this Agreement and the transaction contemplated hereby or the Company may, in its discretion, disclose this Agreement and the transactions
contemplated hereby in its Quarterly Report on Form 10-Q if filed within four Business Days after the date of the execution of this Agreement. The Company shall file within two (2) Business Days from the
date hereof a prospectus supplement to the prospectus dated March 21, 2019 forming a part of the Company’s existing shelf registration statement on Form S-3 (File
No. 333-229734, the “Shelf Registration Statement”) covering the sale of the Purchase Shares (the “Prospectus Supplement”) in accordance with the terms of the Registration
Rights Agreement between the Company and the Buyer, dated as of the date hereof (the “Registration Rights Agreement”). The Company shall use its reasonable best efforts to keep the Shelf Registration Statement and any New
Registration Statement (as defined in the Registration Rights Agreement) effective pursuant to Rule 415 promulgated under the 1933 Act and available for sales of all Securities to the Buyer until such time as (i) it no longer qualifies to make
sales under the Shelf Registration Statement (which shall be understood to include the inability of the Company to immediately register sales of Securities to the Buyer under the Shelf Registration Statement or any New Registration Statement
pursuant to General Instruction I.B.6 of Form S-3), (ii) the date on which all the Securities have been sold under this Agreement and no Available Amount remains thereunder, or (iii) the Agreement has
been terminated. The Shelf Registration Statement (including any amendments or supplements thereto and prospectuses or prospectus supplements, including the Prospectus Supplement, contained therein) shall not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading. 

 

	4.	 Section 10(b) of the Agreement is deleted in its entirety and replaced by the following: 

“Available Amount” means initially Forty One Million One Hundred Seventy One Thousand Seven Hundred Thirty Eight Dollars ($41,171,738) in the
aggregate, which amount shall be reduced by the Purchase Amount each time the Buyer purchases shares of Common Stock pursuant to Section 1 hereof. 

  
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	5.	 Section 10(h) of the Agreement is deleted in its entirety and replaced by the following: 

“Maturity Date” means February 26, 2023. 
  

	6.	 The following is added to Section 10 of the Agreement: 

“Second Amendment” means the Second Amendment to the Common Stock Purchase Agreement, dated as of February 26, 2021, by and between the
Company and the Buyer. 
  

	7.	 Except as amended and modified by this Second Amendment, the Agreement is hereby ratified and affirmed.

 [Signature page follows] 

  
 3 

 IN WITNESS WHEREOF, the Buyer and the Company have caused this Second Amendment to Common
Stock Purchase Agreement to be duly executed as of the date first written above. 
  

			
	THE COMPANY:
	
	RECRO PHARMA, INC.
		
	By:	 	 /s/ Ryan D. Lake

	Name:	 	Ryan D. Lake
	Title:	 	Chief Financial Officer

  

			
	BUYER:
	
	ASPIRE CAPITAL FUND, LLC
	BY: ASPIRE CAPITAL PARTNERS, LLC
	BY: SGM HOLDINGS CORP.
		
	By:	 	 /s/ Steven G. Martin         

	Name:	 	Steven G. Martin
	Title:	 	President

 [Signature page to Second Amendment to Common Stock Purchase Agreement]Document

Exhibit 10.24

AMENDMENT NUMBER 1 

TO EMPLOYMENT AGREEMENT

AS OF JANUARY 26, 2021

THIS AMENDMENT NUMBER 1 (“Amendment”) to the EMPLOYMENT AGREEMENT (the “Employment Agreement”) is made and entered into as of January 26, 2021, by and between the Company and the Executive.  Capitalized terms used in this Amendment without definition have the meaning given to such terms in the Employment Agreement.
RECITALS

WHEREAS, this Amendment is an amendment to the Employment Agreement made and entered into on October 23, 2018; and

WHEREAS, in 2021, the Company is transitioning to a new, overlapping three-year Performance Plan (“Performance Plan” or “PP”) with payouts, if any, following closure of each performance period.

NOW, THEREFORE, in consideration of the respective covenants and agreements hereinafter set forth, and intending to be legally bound, the parties hereto agree as follows:

SECTION 4.b.(2) of the Employment Agreement is amended as follows (with changes in bold and red text):

PSP/PP.  In the PSP at an opportunity equal to 300% of Base Salary if targets are reached at 100%, or such greater percentage if provided in the PSP for any measurement period.  The applicable percentage for Executive’s current 2018-2020 PSP award shall be prorated, with this increased percentage effective as of January 1, 2019.  Effective January 1, 2021, the Company is transitioning to a Performance Plan, with overlapping three-year, all cash performance periods, with cash payouts, if any, following as soon as practical following the closing of the performance period.  As a result of this change, Executive will participate in the PP at an opportunity equal to 100% of Base Salary if targets are reached at 100%.  Installment payments and participation in the prior 2018-2020 PSP cycle are governed by their separate plan documents and the Employment Agreement. 
 
Except as expressly amended hereby, the Employment Agreement remains in full force and effect.

IN WITNESS WHEREOF, the parties have executed this Amendment to the Employment Agreement as of the day and year first written above.

						
	EXECUTIVE

By: /s/ Aldo Pichelli

	TELEDYNE TECHNOLOGIES INCORPORATED

By: /s/ Charles Crocker
Chair, Personnel and Compensation Committee

						
	By: /s/ Aldo Pichelli

	By: /s/ Charles Crocker
Chair, Personnel and Compensation CommitteeExhibit 10.1

 

THE OFFER AND
SALE OF THIS PROMISSORY NOTE (THIS “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR
ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY
IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.  

 

PROMISSORY
NOTE

 

	Principal Amount:  Up to $300,000	Dated as of
        February 5, 2021

        New York, New York

 

StoneBridge
Acquisition Corporation, a Cayman Islands exempted company and blank check company (the “Maker”), promises
to pay to the order of StoneBridge Acquisition Sponsor LLC, a Delaware limited liability company or its registered assigns or
successors in interest (together, the “Payee”), the principal sum of up to Three Hundred Thousand Dollars ($300,000)
(the “Maximum Amount”) in lawful money of the United States of America, on the terms and conditions described
below. All payments on this Note shall be made by check or wire transfer of immediately available funds, or as otherwise determined
by Maker, to such account as Payee may from time to time designate by Notice (as defined in Section 9) to Maker in accordance
with the provisions of this Note.

 

1.                   
 Principal. The principal balance of this Note shall be payable by Maker on the earlier of: (i) December 31, 2021 (the
 “Maturity Date”) or (ii) the date on which Maker consummates an initial public offering of its securities (the
 “IPO”). The principal balance may be prepaid at any time. Under no circumstances shall any individual, including
but not limited to any officer, director, employee or shareholder of Maker, be obligated personally for any obligations or liabilities
of Maker hereunder.

 

2.                  
Interest. No interest shall accrue on the unpaid principal balance of this Note.

 

3.                  
Drawdown Requests. Maker and Payee agree that Maker may request up to the Maximum Amount for costs reasonably related
to Maker’s initial public offering of its securities. The principal of this Note may be drawn down from time to time prior
to the earlier of: (i) December 31, 2021 or (ii) the date on which Maker consummates an initial public offering of its securities,
upon written request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the
amount to be drawn down, and must not be an amount less than Ten Thousand Dollars ($10,000), unless agreed upon by Maker and Payee.
Payee shall fund each Drawdown Request no later than five business days after receipt of a Drawdown Request; provided, however,
that the maximum amount of drawdowns collectively under this Note shall not exceed the Maximum Amount. Once an amount is drawn
down under this Note, such amount shall not be available for future Drawdown Requests, even if such amount is prepaid. No fees,
payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker. Notwithstanding
the foregoing, all payments shall be applied, first, to payment in full of any costs incurred in the collection of any
sum due under this Note, including (without limitation) reasonable attorneys’ fees, and second, to the reduction
of the unpaid principal balance of this Note.

 

4.                  
Application of Payments. All payments shall be applied, first, to payment in full of any costs incurred in the
collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees, second, to
the payment in full of any late charges, and third, to the reduction of the unpaid principal balance of this Note.

 

    	 	 

     

    

 

5.                  
Events of Default. The following events shall constitute an event of default (“Event of Default”):

 

5.1              
 Failure to Make Required Payments. The failure by Maker to pay the principal amount due pursuant to this
Note within five business days of the Maturity Date.

 

5.2              
Voluntary Bankruptcy, Etc. The: (a) commencement by Maker of a voluntary case under any applicable bankruptcy,
insolvency, reorganization, rehabilitation or other similar law; (b) consent by Maker to the appointment of or taking possession
by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker for any substantial
part of its property, (c) making by Maker of any assignment for the benefit of creditors; (d) the failure of Maker generally to
pay its debts as such debts become due; or (e) taking of any corporate action by Maker in furtherance of any of the foregoing
events described in Section 5.2(a) – Section 5.2(d).

 

5.3              
Involuntary Bankruptcy, Etc. The: (a)(i) entry of a decree or order for relief by a court having jurisdiction
in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, (ii)
appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial
part of its property, or (iii) the ordering of the winding-up or liquidation of Maker’s affairs; and (b) continuance of
any such decree, appointment, or order unstayed and in effect for a period of 60 consecutive days.

 

6.                  
Remedies.

 

6.1              
Upon the occurrence of an Event of Default specified in Section 5.1, Payee may, by Notice to Maker, declare
this Note to be due immediately and payable by Maker, whereupon the unpaid principal amount of this Note, and all other amounts
payable hereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind,
all of which are hereby expressly waived, notwithstanding anything contained herein or in the documents evidencing the same to
the contrary.

 

6.2              
Upon the occurrence of an Event of Default specified in Section 5.2 and Section 5.3, the unpaid principal
balance of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and
payable by Maker, in all cases without any action on the part of Payee.

 

7.                  
Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive: (a) presentment for payment,
demand, notice of dishonor, protest, and notice of protest with regard to the Note; (b) all errors, defects and imperfections
in any proceedings instituted by Payee under the terms of this Note; and (c) all benefits that might accrue to Maker by virtue
of any present or future laws (i) exempting any property, real or personal, or any part of the proceeds arising from any sale
of any such real or personal property, from attachment, levy or sale under execution, or (ii) providing for any stay of execution,
exemption from civil process, or extension of time for payment. Maker agrees that any real estate that may be levied upon pursuant
to a judgment obtained by virtue hereof or any writ of execution issued hereon, may be sold upon any such writ in whole or in
part in any order desired by Payee.

 

8.                  
Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance,
default, or enforcement of the payment of this Note, and agrees that Maker’s liability shall be unconditional, without regard
to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver
or modification granted or consented to by Payee. Maker consents to any and all extensions of time, renewals, waivers, or modifications
that may be granted by Payee with respect to the payment or other provisions of this Note. Maker agrees that additional makers,
endorsers, guarantors, or sureties may become parties hereto without either any Notice to Maker or any bearing on Maker’s
liability hereunder.

 

    	 	-2-	 

     

    

 

9.                  
 Notices. All notices, requests, consents, claims, demands, waivers, and other communications hereunder (each, a “Notice”)
shall be in writing and addressed to the parties at the addresses set forth on the first page of this Agreement (or to such other
address that may be designated by the receiving party from time to time in accordance with this Section 9). A Notice shall
be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee
if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or email (with confirmation
of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business
hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail (in each case, return receipt
requested, postage pre-paid). .

 

10.              
Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD
TO CONFLICT OF LAW PROVISIONS THEREOF.

 

11.              
Severability. Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

 

12.              
Trust Waiver. Notwithstanding anything herein to the contrary, Payee hereby waives any and all right, title, interest
or claim of any kind (each, a “Claim”) in or to any distribution of or from the trust account to be established
(the “Trust Account”), in which the proceeds of both the (a) IPO (including the deferred underwriters discounts
and commissions) and (b) sale of the warrants to be issued in a private placement to occur at the closing of the IPO are to be
deposited, as described in greater detail in the Registration Statement on Form S-1 and prospectus to be filed with the Securities
and Exchange Commission in connection with the IPO. Payee hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim against the Trust Account for any reason whatsoever.

 

13.              
Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written
consent of both Maker and Payee.

 

14.              
Assignment. No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party
hereto (by operation of law or otherwise) without the prior written consent of the other party hereto. Any attempted assignment
without the required consent shall be void.

 

 

[Signature
page follows]

 

    	 	-3-	 

     

    

 

IN WITNESS
WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the
day and year first above written.

 

 

	 	STONEBRIDGE ACQUISITION CORPORATION,
	 	a Cayman Islands exempted company
	 	 	 
	 	By:	/s/ Bhargava Marepally
	 	 	Name: Bhargava Marepally
	 	 	Title: Director

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