Document:

EXHIBIT 10.31

 

THERAVANCE,
INC. 2004 EQUITY INCENTIVE PLAN

NOTICE OF RESTRICTED STOCK AWARD

 

You have been granted
restricted shares of Common Stock of Theravance, Inc. (the “Company”) on the
following terms:

 

	
  Name of
  Recipient:

  	
   

  	
  «Name»

  
	
   

  	
   

  	
   

  
	
  Total Number of
  Shares Granted:

  	
   

  	
  «TotalShares»

  
	
   

  	
   

  	
   

  
	
  Fair Market
  Value per Share:

  	
   

  	
  $«ValuePerShare»

  
	
   

  	
   

  	
   

  
	
  Total Fair
  Market Value of Award:

  	
   

  	
  $«TotalValue»

  
	
   

  	
   

  	
   

  
	
  Date of Grant:

  	
   

  	
  «DateGrant»

  
	
   

  	
   

  	
   

  
	
  Vesting
  Commencement Date:

  	
   

  	
  «VestDay»

  
	
   

  	
   

  	
   

  
	
  Vesting
  Schedule:

  	
   

  	
  The first «CliffPercent»%
  of the shares subject to this award shall vest on the earlier of the Put Date
  (as defined in the Restricted Stock Agreement) or January 1, 2008 (as
  applicable, the “First Vesting Date”) provided that you have remained in
  continuous Service (as defined in the Restricted Stock Agreement) from the
  Date of Grant through the First Vesting Date. An additional «Percent»% of the shares subject to this
  award shall vest when you complete each month of Service thereafter.

  

 

You and the Company agree
that these shares are granted under and governed by the terms and conditions of
the Theravance, Inc. 2004 Equity Incentive Plan (the “Plan”) and the Restricted
Stock Agreement, which is attached to and made a part of this document.

 

You
further agree that the Company may deliver by email all documents relating to
the Plan or this award (including, without limitation, prospectuses required by
the Securities and Exchange Commission) and all other documents that the
Company is required to deliver to its security holders (including, without
limitation, annual reports and proxy statements).  You also agree that the Company may deliver
these documents by posting them on a web site maintained by the Company or by a
third party under contract with the Company. 
If the Company posts these documents on a web site, it will notify you
by email.

 

	
  RECIPIENT:

  	
   

  	
  THERAVANCE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
							

 

 

THERAVANCE,
INC. 2004 EQUITY INCENTIVE PLAN:

RESTRICTED
STOCK AGREEMENT

 

	
  Payment for Shares

  	
   

  	
  No payment is required
  for the shares that you are receiving, except for satisfying any withholding
  taxes that may be due as a result of the grant of this award or the vesting
  or transfer of the shares.

  
	
   

  	
   

  	
   

  
	
  Transfer

  	
   

  	
  On the terms and
  conditions set forth in the Notice of Restricted Stock Award and this
  Agreement, the Company agrees to transfer to you the number of Shares set
  forth in the Notice of Restricted Stock Award.

  
	
   

  	
   

  	
   

  
	
  Vesting

  	
   

  	
  The shares will be
  awarded in installments, as shown in the Notice of Restricted Stock Award, as
  you continue in service as an employee, consultant or outside director of the
  Company or a parent or subsidiary of the Company (“Service”).

  
	
   

  	
   

  	
   

  
	
  Change in Control

  	
   

  	
  The shares will fully
  vest if the Company is subject to a “Change in Control”
  (as defined in the Plan) before your Service terminates and you are subject
  to an Involuntary Termination (as defined below) within 3 months prior or 24
  months after the Change in Control. Should the vesting of the shares
  accelerate as the result of a Change in Control prior to the First Vesting
  Date, the acceleration of vesting shall be deferred as to the additional
  shares until the First Vesting Date.

  
	
   

  	
   

  	
   

  
	
  Involuntary Termination

  	
   

  	
  For purposes of this
  Agreement, “Involuntary Termination” means
  the termination of your Service by reason of:

   

  (a)      an
  involuntary dismissal or discharge by the Company for reasons other than for
  Cause; or 

   

  (b)      your
  voluntary resignation following (i) a change in your position with the
  Company (or Parent or Subsidiary employing you) which materially reduces your
  level of responsibility, (ii) a reduction in your level of compensation
  (including base salary, fringe benefits and participation in
  corporate-performance based bonus or incentive programs) or (iii) a
  relocation of your workplace more than fifty miles away from the workplace
  designated by the Company on your initial date of service, provided and only
  if such change, reduction or relocation is effected by the Company without
  your consent.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  For purposes of this
  Agreement, “Cause” shall mean (i) the
  unauthorized use or disclosure of the confidential information or trade
  secrets of the Company, which use causes material harm to the

  

 

 

	
   

  	
   

  	
  Company, (ii)
  conviction of a felony under the laws of the United States or any state
  thereof, (iii) gross negligence or (iv) repeated failure to perform lawful
  assigned duties for thirty days after receiving written notification from the
  Board of Directors.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  No
  additional shares will vest after your Service has terminated for any reason,
  except to the extent set forth above if you are subject to an
  Involuntary Termination within 3 months prior to a Change in Control.

  
	
   

  	
   

  	
   

  
	
  Shares Restricted

  	
   

  	
  Unvested shares will be
  considered “Restricted Shares.” You may not
  sell, transfer, pledge or otherwise dispose of any Restricted Shares without
  the written consent of the Company, except as provided in the next sentence.
  You may transfer Restricted Shares to your spouse, children or grandchildren
  or to a trust established by you for the benefit of yourself or your spouse,
  children or grandchildren. However, a transferee of Restricted Shares must
  agree in writing on a form prescribed by the Company to be bound by all
  provisions of this Agreement.

  
	
   

  	
   

  	
   

  
	
  Forfeiture

  	
   

  	
  If your Service
  terminates for any reason, then your shares will be forfeited to the extent
  that they have not vested before the termination date and do not vest as a
  result of the termination. This means that the Restricted Shares will
  immediately revert to the Company. You receive no payment for Restricted Shares
  that are forfeited. The Company determines when your Service terminates for
  this purpose.

  
	
   

  	
   

  	
   

  
	
  Leaves of Absence and Part-Time
  Work

  	
   

  	
  For purposes of this
  award, your Service does not terminate when you go on a military leave, a
  sick leave or another bona fide
  leave of absence, if the leave was approved by the Company in writing. But
  your Service terminates when the approved leave ends, unless you immediately
  return to active work.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  If you go on a leave of
  absence, then the vesting schedule specified in the Notice of Restricted
  Stock Award may be adjusted in accordance with the Company’s leave of absence
  policy or the terms of your leave. If you commence working on a part-time
  basis, then the vesting schedule specified in the Notice of Restricted Stock
  Award may be adjusted in accordance with the Company’s part-time work policy
  or the terms of an agreement between you and the Company pertaining to your
  part-time schedule.

  
	
   

  	
   

  	
   

  
	
  Stock Certificates

  	
   

  	
  The certificates for
  Restricted Shares have stamped on them a special legend referring to the
  Company’s forfeiture right. In addition to or in lieu of imposing the legend,
  the Company may hold the certificates in escrow. As your vested percentage
  increases, you may request (at reasonable intervals) that the Company release
  to you a non-legended

  

 

2

 

	
   

  	
   

  	
  certificate for your
  vested shares.

  
	
   

  	
   

  	
   

  
	
  Voting Rights

  	
   

  	
  You may vote your
  shares after they have vested and been transferred to you.

  
	
   

  	
   

  	
   

  
	
  Withholding Taxes

  	
   

  	
  No stock certificates
  will be released to you unless you have made arrangements acceptable to the
  Company to pay any withholding taxes that may be due as a result of this
  award or the vesting of the shares. With the Company’s consent, these
  arrangements may include (a) withholding shares of Company stock that
  otherwise would be issued to you when they vest or (b) surrendering
  shares that you previously acquired. The fair market value of the shares you
  surrender, determined as of the date taxes otherwise would have been withheld
  in cash, will be applied as a credit against the withholding taxes.

  
	
   

  	
   

  	
   

  
	
  Restrictions on Resale

  	
   

  	
  You agree not to sell
  any shares at a time when applicable laws, Company policies or an agreement
  between the Company and its underwriters prohibit a sale. This restriction
  will apply as long as your Service continues and for such period of time
  after the termination of your Service as the Company may specify.

  
	
   

  	
   

  	
   

  
	
  No Retention Rights

  	
   

  	
  Your award or this
  Agreement does not give you the right to be employed or retained by the
  Company or a subsidiary of the Company in any capacity. The Company and its
  subsidiaries reserve the right to terminate your Service at any time, with or
  without cause.

  
	
   

  	
   

  	
   

  
	
  Adjustments

  	
   

  	
  In the event of a stock
  split, a stock dividend or a similar change in Company stock, the number of
  Restricted Shares that remain subject to forfeiture will be adjusted
  accordingly.

  
	
   

  	
   

  	
   

  
	
  Applicable Law

  	
   

  	
  This Agreement will be
  interpreted and enforced under the laws of the State of Delaware (without
  regard to their choice-of-law provisions).

  
	
   

  	
   

  	
   

  
	
  The Plan and Other Agreements

  	
   

  	
  The text of the Plan is
  incorporated in this Agreement by reference.

  
	
   

  	
   

  	
  This Agreement and the
  Plan constitute the entire understanding between you and the Company regarding
  this award. Any prior agreements, commitments or negotiations concerning this
  award are superseded. This Agreement may be amended only by another written
  agreement between the parties.

  

 

BY
SIGNING THE COVER SHEET OF THIS AGREEMENT, YOU AGREE TO ALL OF THE

TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

 

3EXHIBIT 10.1

Amendment No. 1 to Credit Agreement

 

AMENDMENT NO.
1 dated as of March 17, 2005 (this “Amendment”), to the CREDIT
AGREEMENT (the “Credit Agreement”) dated as of August 20, 2004,
among US ONCOLOGY HOLDINGS, INC.(“Holdings”),
US ONCOLOGY, INC. (the “Borrower”), the LENDERS party thereto, JPMORGAN
CHASE BANK, N.A., as Administrative Agent and Collateral Agent, WACHOVIA BANK,
NATIONAL ASSOCIATION, as Syndication Agent, and CITICORP NORTH AMERICA, INC.,
as Documentation Agent.

 

A.  Pursuant
to the Credit Agreement, the Lenders and the Issuing Bank have extended credit
to the Borrower, and have agreed to extend credit to the Borrower, in each case
pursuant to the terms and subject to the conditions set forth therein.

 

B.  The
Borrower has requested that the Lenders agree to amend certain provisions of
the Credit Agreement as set forth herein.

 

C.  The
undersigned Lenders are willing so to amend the Credit Agreement, pursuant to
the terms and subject to the conditions set forth herein.

 

D.  Capitalized
terms used and not otherwise defined herein shall have the meanings assigned
thereto in the Credit Agreement, as amended hereby.

 

Accordingly,
in consideration of the mutual agreements herein contained and other good and
valuable consideration, the sufficiency and receipt of which are hereby
acknowledged, and subject to the conditions set forth herein, the parties
hereto agree as follows:

 

SECTION 1.
Amendment of Section 1.01.  Section 1.01 of the Credit Agreement is
hereby amended as follows:

 

(a)  by inserting the definitions of the
following terms in the appropriate alphabetical order:

 

“Additional Physician Affiliation” means (a) (i) the
execution of a Management Services Agreement between the Borrower or any
Subsidiary and a physician or a physician practice or (ii) the addition of
a physician or a physician practice to an existing Affiliated Practice and (b) the
acquisition of any related assets.

 

“Additional Physician Notes” means subordinated notes issued by
the Borrower to physicians in connection with a

 

 

Management Services Agreement that (a) are
subordinated to the Obligations on terms no less favorable to the Lenders than
the terms of the Physician Notes, (b) will not mature prior to the date
that is five years from the date of the issuance thereof and (c) contain other
terms (including covenants, events of default, remedies, redemption provisions
and sinking fund provisions, but excluding interest and amortization provisions
and redemption premiums) not materially less favorable to the Lenders than the
terms of the Physician Notes.

 

“Distribution Business” means the distribution business of the
Borrower and its Subsidiaries.

 

“Holdings Floating Rate Notes” means the Senior Unsecured
Floating Rate Notes due 2015 to be issued by Holdings (and not supported by any
Guarantee) in the aggregate principal amount of $250,000,000 and the
Indebtedness represented thereby.

 

“Holdings Floating Rate Notes Documents” means the indenture in
respect of the Holdings Floating Rate Notes and all other instruments, agreements
and other documents evidencing or governing the Holdings Floating Rate Notes.”

 

“Long Term Incentive Plan” means the US Oncology Holdings, Inc.
2004 Equity Incentive Plan, as in effect on March 10, 2005.

 

“Unused Equity Net Proceeds” means the Net Proceeds in respect
of any Prepayment Event described in clause (c) of the term “Prepayment
Event” that are not required to be utilized to make prepayments of Tranche B
Term Borrowings pursuant to Section 2.11(c).

 

(b)  in the definition of the term “Capital
Expenditures” by inserting “or an Additional Physician Affiliation” immediately
after “Permitted Acquisition” in clause (ii) to the proviso thereof.

 

(c)  in the definition of “Consolidated Cash Interest Expense” by (a) inserting
the words “, but excluding interest expense in respect of the Holdings Floating
Rate Notes (calculated net of the effect of any related Swap Agreements)” after
the words “Capital Lease Obligations” in clause (a)(i) thereof
and (b) inserting the words “(other than the Holdings Floating Rate Notes)”
after the word “Holdings” in clause (a)(ii) thereof.

 

(d)  in the definition of the term “Consolidated
EBITDA”, (i) by inserting “Holdings,” immediately before “the Borrower” in
clause (a)(i),

 

2

 

(ii) by
replacing “and (viii)”
in clause (a) with “, (viii)” and (iii) by inserting at the end of
clause (a)(viii) the text “(ix) solely for purposes of determining
compliance with the Financial Performance Covenants, (A) any non-recurring
fees, cash charges and cash expenses incurred in connection with the issuance
of the Holdings Floating Rate Notes and any related transactions in an
aggregate amount not to exceed $8,000,000, (B) any payment required to be made
under the Long Term Incentive Plan in an aggregate amount not to exceed $14,500,000,
solely as a result of Restricted Payments made by Holdings pursuant to Section 6.08(a)(xiv),
(C) during any four fiscal quarter period ending on or prior to December 31,
2005, any operating expenses incurred in connection with the Distribution
Business, provided that the aggregate amount added to Consolidated
EBITDA pursuant to this clause (C) for all fiscal periods combined shall
not exceed $5,000,000, (D) during the first four fiscal quarter period that
ends on or after the first date on which the aggregate amount expended by the
Borrower and the Subsidiaries at any time on or prior to such date to acquire
inventory intended to be sold through the Distribution Business equals or
exceeds $75,000,000 (such date, the “Distribution Business Trigger Date”),
the amount (if any) by which (x) $18,000,000 exceeds (y) the portion of
Consolidated EBITDA for such four fiscal quarter period attributable to the
Distribution Business, (E) during the second four fiscal quarter period
that includes the Distribution Business Trigger Date, the amount (if any) by
which (x) $13,500,000 exceeds (y) the positive amount (if any) by which the
portion of Consolidated EBITDA for such four fiscal quarter period attributable
to the Distribution Business exceeds $4,500,000, (F) during the third four
fiscal quarter period that includes the Distribution Business Trigger Date, the
amount (if any) by which (x) $9,000,000 exceeds (y) the positive amount (if
any) by which the portion of Consolidated EBITDA for such four fiscal quarter
period attributable to the Distribution Business exceeds $9,000,000 and (G)  during
the fourth four fiscal quarter period that includes the Distribution Business
Trigger Date, the amount (if any) by which (x) $4,500,000 exceeds (y) the
positive amount (if any) by which the portion of Consolidated EBITDA for such
four fiscal quarter period attributable to the Distribution Business exceeds
$13,500,000.”

 

(e)  by inserting the words “Holdings Floating Rate Notes Documents,” after the
words “Notes Documents,” in clause (e) of the definition of “Change
in Control”.

 

(f)  by replacing “and (v)” in the definition of “Funded Debt”
with “, (v) the aggregate principal amount of the Additional Physician
Notes outstanding on such date and (vi)”.

 

(g)  by replacing “or (iii)” in clause (c) of
the definition of the term “Prepayment Event” with “, (iii)” and inserting at the
end of such

 

3

 

clause (c) “(iv) any
issuance by Holdings of Equity Interests to management, employees or
consultants of Holdings, the Borrower or any Subsidiary pursuant to a stock option
or stock purchase plan, benefit plan or employment agreement or similar
agreement approved by the Borrower’s Board of Directors”.

 

(h)  by inserting the words “and, for purposes of Article III,
the Holdings Floating Rate Notes and any Additional Physician Notes” after the
words “Senior Subordinated Notes” in the definition of the term “Transactions”.

 

SECTION 2.
Amendment to Section 3.16.  Section 3.16 is hereby amended by replacing
“and (iii)” in clause (c) thereof with “, (iii) the
documentation governing any Additional Physician Notes and (iv)”.

 

SECTION 3.
Amendment to Section 6.01.  Section 6.01(a) is hereby amended
by (a) deleting “and” at the end of clause (xviii), (b) replacing
the period at the end of clause (xix) with a semicolon and (c) inserting
the following at the end thereof:

 

“(xx) in the case of Holdings, the Holdings Floating
Rate Notes; and

 

(xxi) Additional Physician Notes; provided that (A) the
aggregate principal amount of Additional Physician Notes issued pursuant to
this clause (xxi) shall not exceed $50,000,000 (excluding any additional
principal amounts resulting from pay-in-kind interest), (B) such notes
shall be issued in connection with an Additional Physician Affiliation, (C) the
Borrower and the Subsidiaries are in compliance on a Pro Forma Basis with the
Financial Performance Covenants recomputed as of the last day of the most
recently ended fiscal quarter of the Borrower for which financial statements
are available and (D) no Default has occurred and is continuing or would
result therefrom.”

 

SECTION 4.
Amendment to Section 6.03.  Section 6.03(c) is hereby amended
by inserting a new sentence at the end thereof as follows: “Notwithstanding the
foregoing, Holdings shall be permitted to enter into transactions, engage in
activities and maintain assets or incur liabilities in respect of the Holdings
Floating Rate Notes, any Qualified Sponsor Notes, any Qualified Preferred
Stock, the Long Term Incentive Plan or Swap Agreements related to Indebtedness
of Holdings permitted hereunder.”

 

SECTION 5.
Amendment to Section 6.04.  Section 6.04 is hereby amended as
follows:

 

4

 

(a) in clause (xv), by deleting “(A) $5,000,000
in any fiscal year and (B)”.

 

(b) by (i) deleting “and” at the end
of clause (xvii), (ii) replacing the period at the end of clause (xviii)
with “; and” and (iii) inserting the following at the end thereof:

 

“(xix) Additional Physician Affiliations; provided that the
aggregate purchase price of such Additional Physician Affiliations, which shall
be deemed to include any amounts actually paid pursuant to any post-closing
payment adjustments, earn-outs or non-compete payments shall not exceed $50,000,000
plus the aggregate principal amount of Additional Physician Notes issued to
finance Additional Physician Affiliations.”

 

SECTION 6.
Amendment to Section 6.05.  Section 6.05(i) is hereby amended
by deleting “(x) $25,000,000 during the period from and including the Effective
Date to and including December 31, 2005, and (y)”.

 

SECTION 7.
Amendment to Section 6.07.  Section 6.07 is hereby amended by
inserting “Holdings,” before the words “the Borrower” in clause (b) thereof.

 

SECTION 8.
Amendment to Section 6.08.  Section 6.08 is hereby amended as
follows:  (a) in clause (a), by (i) deleting
“and” at the end of clause (xii), (ii) replacing the period at the end of
clause (xiii) with “; and”, and (iii) inserting the following at the end
thereof:

 

“(xiv) Holdings may make Restricted Payments with the net proceeds from
the issuance of the Holdings Floating Rate Notes; and

 

(xv) the Borrower may make Restricted Payments to Holdings in amounts
necessary to enable Holdings to (A) pay non-recurring fees, cash charges
and cash expenses incurred in connection with the issuance of the Holdings
Floating Rate Notes, (B) make regularly scheduled interest payments on the
Holdings Floating Rate Notes, as required by the Holdings Floating Rate Notes
Documents, and (C) pay any amount required to be paid under the Long Term
Incentive Plan solely as a result of Restricted Payments made pursuant to
clause (xiv) above; provided that, in the case of clauses (A), (B) and
(C), (X) no Event of Default has occurred and is continuing or would
result therefrom and (Y)  such Restricted Payments are used by Holdings
for the purposes specified herein within 20 days of receipt thereof.”

 

5

 

(b) in
clause (b), by (A) inserting the words “, any Additional Physician Notes”
after the words “Existing Senior Subordinated Notes”, (B) deleting “and”
at the end of clause (iv), (C) replacing the period at the end of the
clause (v) with a semicolon and (D) inserting the following at the
end thereof:

 

“(vi) the prepayment, redemption, defeasance, repurchase or other
retirement of all or any portion of the Holdings Floating Rate Notes, Qualified
Sponsor Notes, Existing Senior Subordinated Notes, the Senior Notes, the Senior
Subordinated Notes, the Physician Notes and any Additional Senior Notes,
Additional Senior Subordinated Notes or Additional Physician Notes with Unused
Equity Net Proceeds”; and

 

(vii) the prepayment of any Indebtedness
incurred pursuant to Section 6.01(a)(vi).”

 

SECTION 9.
Amendment to Section 6.10.  Section 6.10 is hereby amended by
inserting “, Holdings Floating Rate Notes Document after “Senior Subordinated
Notes Document” in clause (i) to the proviso thereof.

 

SECTION 10.
Amendment to Section 6.11.  Section 6.11 is hereby amended by (A) replacing
“or” in clause (a) with a comma and inserting at the end of
clause (a) “or any Holdings Floating Rate Notes Document” and (B) inserting
the words “or any Additional Physician Notes” in clause (b) after the
words “Physician Notes”.

 

SECTION 11.
Amendment to Section 6.14.  Section 6.14 is hereby amended by inserting
a new clause (c) as follows: “Notwithstanding the foregoing, the Borrower
shall be permitted to make Capital Expenditures in connection with the
Distribution Business during the fiscal year ended December 31, 2005 in
aggregate amount not to exceed $15,000,000 in addition to the Capital
Expenditures permitted by clauses (a) and (b) above.”

 

SECTION 12.
Representations and Warranties.  Holdings and the Borrower represent and
warrant to the Administrative Agent and to each of the Lenders that:

 

(a)  this Amendment has been duly authorized, executed and
delivered by Holdings and the Borrower and constitutes a legal, valid and
binding obligation of Holdings and the Borrower, enforceable against Holdings
and the Borrower in accordance with its terms, subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law;

 

6

 

(b)  after giving effect to this Amendment, the representations
and warranties set forth in Article III of the Credit Agreement are true
and correct in all material respects (except to the extent any such
representation or warranty is qualified by “materially,” “Material Adverse
Effect” or a similar term, in which case such representation and warranty shall
be true and correct in all respects) on and as of the date hereof with the same
effect as if made on and as of the date hereof, except to the extent such
representations and warranties expressly relate to an earlier date (in which case
such representations and warranties were true and correct (or true and correct
in all material respects, as the case may be) as of such earlier date); and

 

(c)  after giving effect to this
Amendment, no Default has occurred and is continuing.

 

SECTION 13.
Conditions to Effectiveness.  This
Amendment shall become effective when (a) the Administrative Agent shall
have received counterparts of this Amendment that, when taken together, bear
the signatures of Holdings, the Borrower and the Required Lenders and (b) the
representations and warranties set forth in Section 12 hereof are true and
correct (as set forth on an officer’s certificate delivered to the
Administrative Agent).

 

SECTION 14.
Credit Agreement.  Except as expressly set forth herein, this
Amendment shall not by implication or otherwise limit, impair, constitute a
waiver of, or otherwise affect the rights and remedies of the Lenders, the
Agents, the Issuing Bank, Holdings, the Borrower or any other Loan Party under
the Credit Agreement or any other Loan Document, and shall not alter, modify,
amend or in any way affect any of the terms, conditions, obligations, covenants
or agreements contained in the Credit Agreement or any other Loan Document, all
of which are ratified and affirmed in all respects and shall continue in full
force and effect.  Nothing herein shall
be deemed to entitle Holdings or the Borrower to any future consent to, or
waiver, amendment, modification or other change of, any of the terms,
conditions, obligations, covenants or agreements contained in the Credit Agreement
or any other Loan Document in similar or different circumstances.  After the date this Amendment becomes
effective, any reference to the Credit Agreement shall mean the Credit
Agreement as modified hereby.  This
Amendment shall constitute a “Loan Document” for all purposes of the Credit
Agreement and the other Loan Documents.

 

SECTION 15.
Applicable Law.  THIS AMENDMENT
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

 

SECTION 16.
Counterparts. 
This Amendment may be executed in two or more counterparts, each of
which shall constitute an original but all of which when taken together shall
constitute but one agreement.  Delivery
of an

 

7

 

executed
signature page to this Amendment by facsimile transmission shall be
effective as delivery of a manually signed counterpart of this Amendment.

 

SECTION 17.
Expenses. 
The Borrower agrees to reimburse the Administrative Agent, the
Syndication Agent and the Documentation Agent for out-of-pocket expenses in
connection with this Amendment, including the fees, charges and disbursements
of Cravath, Swaine & Moore LLP, counsel
for the Administrative Agent.

 

SECTION 18.
Headings. 
The headings of this Amendment are for purposes of reference only and
shall not limit or otherwise affect the meaning hereof.

 

SECTION 19.
Severability. 
Any provision of this Amendment held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such invalidity, illegality or unenforceability
without affecting the validity, legality and enforceability of the remaining
provisions hereof; and the invalidity of a particular provision in a particular
jurisdiction shall not invalidate such provision in any other
jurisdiction.  The parties shall endeavor
in good faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions, the economic effect of which comes as close as
possible to that of the invalid, illegal or unenforceable provisions.

 

8

 

IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their respective authorized officers as of the day and year first written
above.

 

	
   

  	
  US ONCOLOGY HOLDINGS, INC.,

  
	
   

  	
   

  
	
   

  	
  by

  	
   /s/ R. DALE ROSS

  	
   

  
	
   

  	
   

  	
  Name:

  	
  R. Dale Ross

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  US ONCOLOGY, INC.,

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  by

  	
   /s/ R. DALE ROSS

  	
   

  
	
   

  	
   

  	
  Name:

  	
  R. Dale Ross

  
	
   

  	
   

  	
  Title:

  	
  President

  
								

 

 

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OMITTED]

 

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