Document:

sbfm_104.htm

AMENDMENT 2 TO EXCLUSIVE LICENSE AGREEMENT

THIS AMENDMENT 2 TO EXCLUSIVE LICENSE AGREEMENT (the “Amendment”) is made this 21st day of December 2011, by and between Advanomics Corporation, a Canadian corporation (the “Licensor”), with its principal place of business at 579 rue Lajeunesse, Laval, Quebec, Canada, H7X 3K4, and Sunshine Biopharma, Inc., a Colorado corporation (“the Licensee”), with its principal place of business at 2015 Peel Street, 5th Floor, Montreal, Quebec H3A 1T8, who hereby agree as follows:

RECITALS:

WHEREAS, the parties hereto have previously entered into that certain Exclusive License Agreement dated August 20, 2009 (the “License Agreement”), wherein Licensor provided Licensee an exclusive license to the oncology drug, Adva-27a (Difluoro-Etoposidetm) as well as the Adva-27a development through clinical trials (the “Licensed Materials”); and

WHEREAS, the parties hereto hereby wish to amend the License Agreement as indicated herein.

NOW, THEREFORE, in exchange for good and valuable consideration, the sufficiency of which is acknowledged, the parties hereto hereby agree to amend the License Agreement as follows:

ARTICLE II

Term and Termination of License

Section 2.4.4 is hereby deleted in its entirety.

ARTICLE III

Consideration for License

ARTICLE III is hereby amended to replace Section 3.1(d) and add Section 3.1(e), which shall henceforth read as follows:

“3.1           Consideration for License.  In consideration for the granting of the exclusive License herein, Licensee hereby agrees to:

(d)           Pay Licensor (or its assigns) an annual license fee of $360,000.00 US on or before December 31 of each calendar year starting with the year 2012; and

(e)           Reimburse Licensor (or its assigns) all of the research and development expenses (including clinical trials expenses) which the licensor incurs in connection with the Licensed Materials.  Such reimbursements to the Licensor shall be made by the Licensee within ten (10) days of receipt of relevant invoices by the Licensee.”

The balance of the License Agreement, as amended to date, shall remain in full force and effect.

IN WITNESS WHEREOF the parties hereto have executed this amendment to the License Agreement effective as of the date first written above.                                                                                

                                              

	LICENSOR: 	 	LICENSEE:	 
	 	 	 	 
	ADVANOMICS CORPORATION	 	SUNSHINE BIOPHARMA, INC.	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By: 	
/s/Steve N. Slilaty

	 	By:	
/s/ Camille Sebaaly

	 
	 	
Steve N. Slilaty, President 

	 	 	
Camille Sebaaly, CFOblku_ex1019.htm

EXHIBIT 10.19

 

 EXTENSION AGREEMENT

This Extension Agreement (“Extension Agreement”) is entered into this 27th day of December, 2011, by and among BLINK COUTURE, INC., a Delaware corporation (the “Company”), LATITUDE GLOBAL ACQUISITION CORP., a Florida corporation and a wholly-owned subsidiary of the Company (the “Merger Sub”) and LATITUDE GLOBAL, INC., a Florida corporation (“LG”).  The Company, the Merger Sub and LG each, individually a “party” or, collectively, the “parties.”

BACKGROUND

WHEREAS, the parties previously entered into an Agreement and Plan of Merger dated November 10, 2011 ( “Agreement”); and

WHEREAS, the parties have agreed to extend, until February 28, 2012, the date after which either the Company or LG may terminate the Agreement, if the Closing has not occurred on or before such date, upon the terms and conditions set forth herein; and

WHEREAS, the parties have agreed that if the Closing is not consummated on or before January 31, 2012, the Regent Convertible Note in the principal amount of $50,000 shall be increased, upon the terms and conditions set forth herein;

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

1.           RECITALS. The parties agree that the Recitals set forth above are true and correct and are incorporated into this Extension Agreement by reference.

2.            Definitions.  All initially capitalized terms which are not otherwise defined herein shall have the meanings given to those terms in the Agreement.

3.           Termination. Section 7.1(b)(i) of the Agreement is hereby amended, to read as follows:

  “(i) the Closing has not occurred prior to the close of business on or before February 28, 2012 (unless such date is extended, by the mutual agreement of the parties; provided, however, that the right to terminate this Agreement pursuant to this Section 7.1(b) shall not be available to the Company or LG, as applicable, if the party seeking to terminate the Agreement is responsible for the delay or...”

 

 

  

  

  

 

4.           Increase in Principal Amount of Regent Convertible Note.  Paragraphs A(1) and B(1) of Section 2.5(a) of the Agreement shall each be amended by adding the following language immediately after “$50,000” in the second line of each of those paragraphs:

“(which principal amount shall be increased, if the Closing is not consummated on or before January 31, 2012, by any amounts incurred by Regent, in connection with the preparation and filing of the Company’s Quarterly Report on Form 10-Q for the quarter ended January 31, 2012, up to a maximum of $15,000 (i.e. a maximum principal amount of $65,000)), all of...”

5.           All other terms and conditions of the Agreement, except as specifically set forth herein, shall remain unchanged and otherwise in full force and effect.

6.           This Agreement shall bind and inure to the benefit of the parties hereto, their respective successors and permitted assigns.

7.           This Agreement may be executed in any number of counterparts, each of which shall constitute an original, and all of which, taken together, shall constitute the same instrument.

[Signature Page Follows]

 

 

  

  

  

 

IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written.

 

 

	 	 
BLINK COUTURE, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Lawrence Field	 
	 	 	 
Name: Lawrence Field

	 
	 	 	 
Title: Chief Executive Officer

	 

	 	 
LATITUDE GLOBAL ACQUISITION CORP.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Lawrence Field  	 
	 	 	 
Name: Lawrence Field

	 
	 	 	 
Title: Chief Executive Officer

	 

 

	 	 
LATITUDE GLOBAL, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Brent W. Brown	 
	 	 	 
Name: Brent W. Brown

	 
	 	 	 
Title: Chief Executive Officerfp0003925_ex10-1.htm

 

AGREEMENT

This AGREEMENT (this “Agreement”) is made as of December ___, 2011, by and between WORKSTREAM INC., a Canadian corporation (the “Company”), and the investor listed on the signature page hereto (the “Investor”).  The Company and the Investor are sometimes hereinafter referred to collectively as the “Parties” and individually as a “Party.”  Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in that certain Third Amended and Restated Registration Rights Agreement dated as of August 13, 2010, as it may be amended, by and among the Company, the Investor and the other parties thereto (the “Registration Rights Agreement”).

RECITALS

WHEREAS, pursuant to the Registration Rights Agreement, the Company has granted certain registration rights to the Investor upon the occurrence of certain specified events; and

WHEREAS, the Company intends to (a) delist its Common Shares from the OTC Bulletin Board quotation system and (b) deregister its Common Shares under the Securities Exchange Act of 1934 (collectively, the “Going Dark Transaction”).

NOW, THEREFORE, in consideration of good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Parties hereto, and intending to be legally bound, the Parties hereto hereby agree as follows:

1. Subject to the terms and conditions set forth herein, notwithstanding the rights and obligations of the Parties set forth in the Registration Rights Agreement, the Investor hereby agrees that during the period commencing with the filing of a Form 15 with the SEC in connection with the Going Dark Transaction and ending on the earliest to occur of (i) January 15, 2014, (ii) ninety (90) days after any of the Company’s securities are listed on any securities exchange, over-the-counter market or any quotation system other than the “Pink Sheets,” (iii) the first date on which the Company grants registration rights to any Person with respect to any Company securities that may be exercised, or that provide for filing of any registration statement with respect to such securities, prior to the earlier of the dates set forth in subsection (i) or (ii) above and (iv) the first date on which the Company amends, modifies, waives compliance with or terminates, revokes or rescinds in any manner or respect (or takes any action, or permits any action to be taken (whether through the Company’s inaction or otherwise), that has a similar effect to any of the foregoing) any provision of any of the Other Agreements (as defined below) (the “Going Dark Period”):

(a)  the Investor will not exercise its right to require registration of its Registrable Securities pursuant to Section 2 of the Registration Rights Agreement (other than under Section 2(g) thereof); and

(b)  other than Section 2(g) of the Registration Rights Agreement, the Company will not be required to comply with any of the obligations set forth in the Registration

 

  

  

  

 

Rights Agreement, including but not limited to those set forth under Sections 2, 3, 6, 7 and 8 of the Registration Rights Agreement.

2.  Notwithstanding anything contained in Section 1 of this Agreement to the contrary, the Company acknowledges and agrees that (a) the Company shall comply with all of its obligations under Section 2(g) of the Registration Rights Agreement, and the Investor shall have the rights thereunder, at all times as if the phrase “at any time during the period in which a Registration Statement is required to be kept effective” was deleted from the first sentence of Section 2(g) thereof and (b) during the Going Dark Period, no registration statement relating to any securities of the Company (or any securities acquired in exchange for, or in replacement of, any of the Company’s securities) may be declared effective prior to the effectiveness of any Registration Statement unless such registration statement covers all of the Investor’s Registrable Securities.

3.  The Company hereby represents and warrants that the Persons listed on Exhibit A hereto are the only Persons having registration rights with respect to any of the Company’s securities as of the date hereof pursuant to any agreement, understanding or other arrangement with the Company.  This Agreement shall be effective only upon the execution of agreements by the Company and each of the Persons listed on Exhibit A hereto containing the identical substantive terms as this Agreement (such other agreements are referred to herein as the “Other Agreements”).

4.  The Company covenants and agrees to provide the Investor with a true and complete copy of the financial statements of the Company (whether audited or unaudited) for each of its quarterly and annual fiscal periods promptly following the preparation of such financial statements, but in any event not later than forty-five (45) days following the close of any fiscal quarter or ninety (90) days following the close of any fiscal year, to the extent and only to the extent that such financial statements are not publicly filed with the SEC; provided, however, that the Company reserves the right to withhold any information contained in the financial statements if such information contains confidential information about the Company that, if disclosed, could adversely affect the business or competitive position of the Company.  All such financial statements shall fairly present in all material respects the financial condition and operating results of the Company as of the dates, and for the periods, indicated therein. The Company expressly acknowledges and agrees that the Investor shall not have any duty of confidentiality or any other duty with respect to any of such financial statements or any of the information contained therein and that the Investor may provide and/or disclose any or all of such financial statements or any or all of the information contained therein to any Person (including, without limitation, in connection with any transfer, sale or assignment of any securities of the Company held by the Investor).

5.  Except as provided herein, the terms and provisions of the Registration Rights Agreement shall remain in full force and effect.

6.  This Agreement supersedes all other prior oral or written agreements between the Investor and the Company solely with respect to the specific matters contained herein, and this

 

  

  

  

 

Agreement contains the entire understanding of the Parties solely with respect to the specific matters covered herein.

7.  This Agreement may be executed in two or more counterparts (including by facsimile), all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each Party and delivered to the other Party.

[Signature page follows]

 

  

  

  

 

IN WITNESS WHEREOF, this Agreement is entered into as of the date first set forth above.

	 	
THE COMPANY:

	 	  
	 	
WORKSTREAM INC.

	 	  
	 	  
	 	
By:______________________________________

	 	
Name:

	 	
Title:

	 	  
	 	  
	 	
THE INVESTOR:

	 	
[NAME OF INVESTORS]

	 	  
	 	  
	 	
By:______________________________________

	 	
Name:

	 	
Title:

 

  

  

  

 

EXHIBIT A

CCM Master Qualified Fund, Ltd.

Magnetar Capital Master Fund, Ltd

First Advantage Offshore Services, Private Limited

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