Document:

exv4w8

Exhibit 4.8

Form of Guarantee

     For value received, Telefónica, S.A., a sociedad anónima organized under the laws of the
Kingdom of Spain, having its registered office at Gran Via, 28, 28013 Madrid, Spain (herein called
the “Guarantor” which term includes any successor Person under the Indenture referred to in each
Security Certificate representing the Securities of any series upon which this Guarantee is
endorsed), hereby unconditionally and irrevocably guarantees to the Holders of the Securities of
any series represented by each Security Certificate upon which this Guarantee is endorsed and to
the Trustee, in its individual and trust capacities, and on behalf of each such Holder, the due and
punctual payment of the principal of, premium, if any, and interest and all other amounts due under
the Securities of any such series when and as the same shall become due and payable, whether at the
Stated Maturity, by declaration of acceleration, call for redemption or otherwise, on an
unsubordinated and unconditional basis according to the terms thereof and of the Indenture referred
to therein. In case of the failure of Telefónica Emisiones, S.A.U. (the “Issuer”, which term
includes any successor Person under the Indenture), punctually to make any such payment of
principal, premium, if any and interest and all other amounts due under the Indenture and on such
Securities of any such series, the Guarantor hereby agrees to cause any such payment to be made
punctually when and as the same shall become due and payable, whether at the Stated Maturity or by
declaration of acceleration, call for redemption or otherwise, and as if such payment were made by
the Issuer.

     The Guarantor hereby further agrees that any amounts to be payable by the Guarantor under this
Guarantee (whether in respect of principal, redemption amount, interest or otherwise) will be made
free and clear of and without withholding or deduction for or on account of any present or future
taxes, duties, assessments or governmental charges of whatever nature imposed or levied by or on
behalf of the Kingdom of Spain or any political subdivision thereof or any authority or agency
therein or thereof having power to tax, unless the withholding or deduction of such taxes, duties,
assessments or governmental charges is required by law. Subject to the exceptions set forth in
Section 10.4 of the Original Indenture (as such term is defined in each Security Certificate
representing the Securities of any series upon which this Guarantee is endorsed) and any Supplemental Indenture supplementing the Original Indenture
pursuant to which the Securities of any series upon which this Guarantee is endorsed have been issued, in the event that
such withholding or deduction is required by law, the Guarantor shall pay such Additional Amounts
as will result in receipt by the Holders of the Securities of any such series of such amounts as
would have been received by them had no such withholding or deduction been required.

     The Guarantor hereby agrees that its obligations hereunder shall be as if it were principal
debtor and not merely surety, and shall be absolute, full and unconditional, irrespective of, and
shall be unaffected by, any invalidity, irregularity or unenforceability of such Securities of any
such series or the Indenture, any failure to enforce the provisions of such Securities of any such
series or the Indenture, or any waivers, modification or indulgence granted to the Issuer in
respect thereof by the Holders of such Securities of any such series or the Trustee or any other
circumstance which may otherwise constitute a legal or equitable discharge of a surety or
guarantor; provided, however, that, notwithstanding the foregoing, no such waiver, modification or
indulgence shall, without the consent of the Guarantor, increase the principal amount of such

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Securities of any such series, or increase the interest rate thereon, or increase any premium
payable upon redemption thereof, or change the currency of payment thereon, or change the
provisions relating to payments of Additional Amounts thereon, or alter the Stated Maturity thereof
or increase the principal amount of any Original Issue Discount Security that would be due and
payable upon a declaration of acceleration of the maturity thereof pursuant to Section 5.2 of the
Original Indenture. The Guarantor hereby waives diligence, presentment, demand of payment, filing
of claims with a court in the event of merger or bankruptcy of the Issuer, the benefits of orden,
division and excusion under Spanish law, any right to require a proceeding first against the
Issuer, protest or notice with respect to such Security or the indebtedness evidenced thereby and
all demands whatsoever, and covenants that this Guarantee will not be discharged except by payment
in full of the principal of, premium, if any, and interest (including Additional Amounts, if any)
on such Securities of any such series and the Guarantor shall have fully performed all its
obligations in accordance with the provisions of the Securities of any such series, this Guarantee
and the Indenture; after such time, this Guarantee shall not be valid or obligatory for any
purpose.

     The Guarantor shall be subrogated to all rights of the Holders of such Securities of any such
series and the Trustee against the Issuer in respect of any amounts paid to such Holders by the
Guarantor pursuant to the provisions of this Guarantee; provided, however, that the Guarantor shall
not be entitled to enforce, or to receive any payments arising out of or based upon such right of
subrogation until the principal of, premium, if any, and interest (including Additional Amounts, if
any) on all Securities of any such series issued under the Indenture shall have been paid in full.

     No reference herein to the Indenture and no provision of this Guarantee or of the Indenture
shall alter or impair the guarantee of the Guarantor, which is absolute and unconditional, of the
due and punctual payment of the principal of, premium, if any, interest on, Additional Amounts, if
any, and all other amounts due under the Securities of any series represented by each Security
Certificate upon which this Guarantee is endorsed.

     The obligations of the Guarantor under this Guarantee shall, without any further act or thing
being required to be done or to occur, extend to the obligations of any successor Person who is not
the Guarantor arising in respect of the Securities of any such series by virtue of a substitution
pursuant to the Indenture.

     The obligations of the Guarantor under this Guarantee in respect of the Securities of any such
series will constitute direct, unconditional, unsubordinated and unsecured obligations of the
Guarantor under this Guarantee and will rank pari passu without any preference among such
obligations of the Guarantor under this Guarantee in respect of the Securities of any such series
and at least pari passu with all other unsubordinated and unsecured indebtedness and monetary
obligations involving or otherwise related to borrowed money of the Guarantor, present and future;
provided that the obligations of the Guarantor under this Guarantee in respect of the Securities of
each series will be effectively subordinated to those obligations that are preferred under Law
22/2003 (Ley Concursal) dated July 9, 2003 regulating insolvency proceedings in the Kingdom of
Spain.

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     This Guarantee shall not be valid or obligatory for any purpose until the certificate of
authentication with respect to each Security Certificate representing the Securities of any such
series upon which this Guarantee has been endorsed shall have been manually executed by or on
behalf of the Trustee under the Indenture.

     All terms used in this Guarantee, which are not otherwise defined herein, shall have the
meanings assigned to them in the Indenture.

     The Guarantee shall be governed by and construed in accordance with the laws of the State of
New York.

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Executed and dated as of the date hereof:

	 	 	 	 	 
	 	Telefónica, S.A.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Authorized Officer 	 
	 

Date: April [ • ], 2010

4Exhibit 10.1

Exhibit 10.1

CLARIENT, INC.

AMENDMENT NO. 1 TO AGREEMENT AND PLAN OF MERGER

THIS AMENDMENT NO. 1 TO AGREEMENT AND PLAN OF MERGER (the “Amendment”) is dated as of April
14, 2010, by and among Clarient, Inc., a Delaware corporation (“Parent”), Applied Genomics, Inc., a
Delaware corporation (the “Company”), and Robert S. Seitz, an individual resident of the State of
Alabama (the “Stockholders’ Representative”), as representative of the stockholders of the Company
(the “Stockholders”) pursuant to Section 7.1(a) of the Merger Agreement (as defined below). The
Amendment shall be effective as of March 17, 2010. All capitalized terms not herein defined shall
have the definitions ascribed to them in the Merger Agreement.

RECITALS

A. Parent, Clarient Acquisition Corporation, which was a wholly-owned subsidiary of Parent
(“Merger Sub”), the Company, the Stockholders and the Stockholders’ Representative are parties to
that certain Agreement and Plan of Merger, dated as of December 21, 2010 (the “Merger Agreement”),
pursuant to which Merger Sub merged with and into the Company, with the Company surviving the
merger.

B. Pursuant to Section 7.4 of the Merger Agreement, the Merger Agreement may be amended by
written agreement of the parties thereto.

C, The parties desire to amend the Merger Agreement as set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants contained in this Amendment and for
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto agree that the Merger Agreement is hereby amended as follows:

AGREEMENT

1. Amendment of Section 1.12(c). Section 1.12(c) of the Merger Agreement is hereby amended
and restated in its entirety as follows:

(c) Publication/Presentation Contingency Milestone. If within twenty (20) months of
the Closing, the performance criteria for the Revenue Contingency Payment has not been
previously met, and a study titled “Expression of TLE3 Predicts Response to Taxane Therapy
in Ovarian Carcinoma,” is presented at the 2010 national meeting on Women’s Cancer of the
Society of Gynecologic Oncologists, Parent shall issue to the Company Stockholders an
additional 750,000 unregistered shares of Parent Common Stock (the “Publication/Presentation
Contingency Payment”) pursuant to Section 1.6(a)(iii)(B).”

2. Amendment of Section 5.1(b). Section 5.1(b) of the Merger Agreement is hereby amended and
restated in its entirety as follows:

“(b) Parent agrees to use commercially reasonable efforts to register the Contingent Merger
Shares issued to the Company Stockholders, if any, and not previously registered on that
certain Registration Statement on Form S-3 (File No. 333-163973) which was declared
effective on March 18, 2010, at 5:00 p.m. Eastern Time, with the SEC on a Registration
Statement within six months following the earlier to occur of (i) the complete achievement
of both the Publication/Presentation Contingency Milestone and the Revenue Contingent
Milestone or (ii) June 30, 2011.

 

 

 

3. Acknowledgement. The parties hereto acknowledge that the Publication/Presentation
Contingency Milestone, as amended herein, was met on March 17, 2010,

4. No Other Amendments. Except as amended herein, all provisions of the Merger Agreement
shall remain in full force and effect.

5. Counterparts. This Amendment may be executed in two or more counterparts, each of which
shall be deemed an original for all purposes.

[Remainder of Page Intentionally Left Blank; Signature Page Follows]

 

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IN WITNESS WHEREOF, the undersigned have caused this Amendment to be executed as of the date
first written above.

	 	 	 	 	 
	 	PARENT:

CLARIENT, INC.

 	 
	 	By:  	/s/ Ron Andrews
 	 
	 	 	Name:  	Ron Andrews 	 
	 	 	Title:  	CEO 	 
	 
	 	COMPANY:

APPLIED GENOMICS, INC.

 	 
	 	By:  	/s/ Robert S. Seitz
 	 
	 	 	Name:  	Robert S. Seitz 	 
	 	 	Title:  	Stockholders’ Representative 	 
	 
	 	STOCKHOLDERS’ REPRESENTATIVE:

 	 
	 	/s/ Robert S. Seitz
 	 
	 	Robert S. Seitz 	 
	 	 	 
	 

 

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