Document:

ex-10_47.htm

Adamis Pharmaceuticals Corporation 10-K

 

Exhibit 10.47

 

FIRST AMENDMENT TO

 

COMMON STOCK PURCHASE AGREEMENT

 

This First Amendment to Common Stock Purchase Agreement (this “Amendment”) is dated as of June 30, 2011 (the “Effective Date”), and is entered into by and between Adamis Pharmaceuticals Corporation, a Delaware corporation (the “Company”) and Eses Holdings (FZE), a limited liability free zone establishment formed in accordance with the laws of Sharjah, United Arab Emirates (“Purchaser” and together with the Company, the “Parties”, and each, individually, a “Party”).

 

BACKGROUND

 

A.           The Parties previous entered into a Common Stock Purchase Agreement dated as of November 10, 2010 (the “Agreement”).

 

B.           The Company desires to amend certain provisions of the Agreement.  Purchaser desires to more closely align the timing of the payments to be made pursuant to the first Milestone Closing (as described below) with the Company’s use of the funds to be provided by such closing.  The Company and Purchaser desire to amend the Agreement as provided for in this Amendment.

 

AGREEMENT

 

Effective as of the Effective Date, the Agreement is hereby amended as set forth below.  Capitalized terms not defined herein will have the meanings given to them in the Agreement.

 

1. Payments With Respect to the First Milestone Closing.

 

(a) The original Agreement sets forth, on Exhibit A thereto, two potential sets of Milestone Events that may result in a Milestone Closing pursuant to the Agreement (such milestones as are identified and set forth on Exhibit A to the Agreement are referred to as “Milestone No. 1” and “Milestone No. 2”).  The Parties agree as follows: (i) the Company has given notice to the Purchaser that the Applicable Milestones events described relating to Milestone No. 1 have been achieved, and Purchaser agrees that such events have been achieved; (ii) Purchaser shall pay the Company US$550,000 on or before June 27, 2011, in respect of the first Milestone Closing relating to Milestone No. 1; (iii) Purchaser shall pay the Company US $550,000 on or before July 21, 2011, in respect of the first Milestone Closing relating to Milestone No. 1; and (iv) Purchaser shall pay the Company US $1,400,000 on or before September 29, 2011, in respect of the first Milestone Closing relating to Milestone No. 1.  The number of shares of common stock of the Company issuable to Eses by the Company in connection with each such payment shall be proportionately adjusted, based on the purchase price set forth in the Agreement.

 

(b) Amendment of Agreement and Exhibit A.  The Agreement and Exhibit A thereto are hereby amended to reflect the above provisions.

 

 

  

1

  

 

2. Use of Proceeds.  Purchaser agrees that the Company may use proceeds from the closing relating to Milestone No. 1, as described in Section 1 above, to pay any unconverted principal and interest that becomes due at the maturity date of the Company’s Senior Notes issued in the Gemini Financing (as described and defined in the Disclosure Schedule delivered to the Purchaser in connection with the Agreement), which amount is less than approximately $400,000.  The Agreement, including Exhibit C thereto entitled “Use of Funds,” is hereby amended to reflect the above provisions.

 

3. Milestone Outside Date.  With respect to Milestone No. 2 on Exhibit A to the Agreement, the “Milestone Outside Date” of April 30, 2011 that is set forth on Exhibit A to the Agreement is hereby amended to be December 31, 2011.

 

4. No Other Changes; Agreement Effective.  Except as amended as set forth above, the Agreement and the provisions thereof shall continue and remain in full force and effect.  Each party hereby waives and releases the other party from any claims against the other party, and any right to terminate the Agreement, based on actions or omissions of the other party before the date of this Amendment relating to the subject matter of the Agreement or the other party’s obligations thereunder.

 

5. Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.

 

[Remainder of page intentionally left blank]

 

 

  

2

  

 

 

IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to Common Stock Purchase Agreement by their duly authorized representatives as of the day and year first written above.

 

 

	

ADAMIS PHARMACEUTICALS CORPORATION

	  	

ESES HOLDINGS (FZE)

	  	  	  	  	  
	
By:

	

/s/Dennis J. Carlo

	  	
By:

	

/s/Ahmed Shayan Fazlur Rahman

	
Name:

	Dennis J. Carlo 	  	
Name:

	Ahmed Shayan Fazlur Rahman 
	
Its:

	Chief Executive Officer	  	
Its:

	Owner and Manager

 

 

 

 

 

3ex10-1.htm

Exhibit 10.1

 

EXTENSION AGREEMENT

 

This Extension Agreement (this “Agreement”), dated as of June 30, 2011, is entered into by and among Robertson Health Services, Inc. (formerly NxOpinion, LLC), a Nevada corporation (“Company”) and ______________________________(“Lender”).

 

RECITALS:

 

WHEREAS, the Lender has loaned $________ to the Company evidenced by an Amended and Restated Promissory Note Agreement dated May 28, 2010 with maturity date of June 30, 2011 (“Note”); and

 

WHEREAS, the Company and Lender agree to extend the maturity date of the Note in accordance with the terms hereof.

 

AGREEMENT:

 

NOW THEREFORE, in consideration of the foregoing premises and the mutual covenants set forth in this Agreement, the parties hereto agree as follows:

 

	
  

	
1.

	
Extension of Maturity Date.  The Maturity Date under the Note is hereby extended for an additional 3 months until September 30, 2011.

 

	
  

	
2.

	
Interest.  The unpaid principal balance shall continue to accrue interest at a rate of __________.

 

	
  

	
3.

	
Full Force and Effect.  Except as otherwise expressly provided herein, the Note shall remain in full force and effect.  Except for any waivers and modifications contained herein, this Agreement shall not in any way waive or prejudice any of the rights or obligations of the Lender or the Company under the Note, under any law, in equity or otherwise, and such waivers and modifications shall not constitute a waiver or modification of any other provision of the Note nor a waiver or modification of any subsequent default or breach of any obligation of the Company or of any subsequent right of Lender.

 

 

 

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of June 30, 2011.

 

	
Company:

Robertson Health Services Inc.

 

 

 

	 	 	Lender:	 
	 	 	 	 	 
	
[Name, Title]

	 	 	
[Name]ex10-2.htm

Exhibit 10.2

 

EXTENSION AGREEMENT

 

This Extension Agreement (this “Agreement”), dated as of June 30, 2011, is entered into by and among Robertson Health Services, Inc. (formerly NxOpinion, LLC), a Nevada corporation (“Company”) and ________________________________ (“Consultant”).

 

RECITALS:

 

WHEREAS, the Company is indebted to the Consultant in the amount of $________ for management consulting services rendered by the Consultant as evidenced by an Amended and Restated Promissory Note Agreement dated May 28, 2010 with maturity date of June 30, 2011 (“Note”); and

 

WHEREAS, the Company and Consultant agree to extend the maturity date of the Note in accordance with the terms hereof.

 

AGREEMENT:

 

NOW THEREFORE, in consideration of the foregoing premises and the mutual covenants set forth in this Agreement, the parties hereto agree as follows:

 

	
  

	
1.

	
Extension of Maturity Date.  The Maturity Date under the Note is hereby extended for an additional 3 months until September 30, 2011.

 

	
  

	
2.

	
Interest.  The unpaid principal balance shall continue to accrue interest at a rate of 5%.

 

	
  

	
3.

	
Full Force and Effect.  Except as otherwise expressly provided herein, the Note shall remain in full force and effect.  Except for any waivers and modifications contained herein, this Agreement shall not in any way waive or prejudice any of the rights or obligations of the Consultant or the Company under the Note, under any law, in equity or otherwise, and such waivers and modifications shall not constitute a waiver or modification of any other provision of the Note nor a waiver or modification of any subsequent default or breach of any obligation of the Company or of any subsequent right of Consultant.

 

 

 

IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of June 30, 2011.

 

	

Company:

Robertson Health Services Inc.

 

 

 

	 	 	
Consultant:

 

 

 

	 
	 	 	 	 	 
	
[Name, Title]

	 	 	
[Name]exh10-1.htm

 

Exhibit 10.1

(English Translation from Chinese)

Land Lease Agreement

Party A: Zhucheng City, Lubiao Town, West Lubiao Village (Lessor)

Party B: Zhucheng City Ziyang Ceramics Co., Ltd (Leasee)

Due to operation needs, Party B leased one lot of land from Party A, after thorough consultation, the parties have agreed and signed the following agreement.

1. Land Area

Referencing to the Zhucheng City Land Planning and Design Institute’s Red Line Map, the lot totals 253.81 Mu.

2. Lease Period

Period of lease is 30 years, from December 1, 2005 to November 30, 2035.

3. Rental Fee and Payment Method

In accordance with Party A’s Land Contracting Agreement, each Mu shall be 26,000 RMB, totaling 6,599,060 RMB.

Party B will also compensate for the young crops currently on the land, young crop compensation standard: 1,950 RMB per Mu, totaling 494,929.50 RMB.

Additional item compensation: motor-pumped well, 4,920.50 RMB.

Total of above payment amount: Seven Million Ninety Eight Thousand Nine Hundreds and Ten RMB (7,098,910 RMB).

Party B shall pay the full amount before February 10, 2006.

4. Rights and Obligations

a. Party A shall remove the young crops and all additional items 10 days within the signing of this agreement and the payment.

b. Party B shall not conduct excavation or any other predatory operations.

c. Party A shall provide convenience to Party B in regards to accessibility, drainage and etc.

d. Party B’s construction specifications and style shall be done in accordance with the overall planning of higher authorities, all related fees and expenses shall be paid by Party B.

e. In the case the land is needed for national planning use, Party B shall unconditionally comply with it, all compensations for additional items on land, compensation for land use during the lease period and settlement payments shall be given to Party B.

f. After the execution of this Agreement, this Agreement shall not be changed or terminated due to the change in legal representative or the party.

g. In the event that this Agreement can’t be executed due to force majeure, the parties may negotiate changes or termination of Agreement.

h. During the term of the lease, Party A shall not request any payment of fees from Party B with any reason or excuse.

i. During the term of the lease, with the approval of government agencies, Party B may apply for Land Rights documents for this lot, Party A shall approve and support Party B in the application for Land Rights documents during this period.

5. Breach of Contract

a. After the signing of this Agreement, if the Agreement is terminated without cause single-sided by any party, the breaching party shall pay 100,000 RMB to the other party as penalty.

b. If Party B conducts any sort of excavation or any other predatory operations, Party A has the rights to terminate the Agreement, and seek the 100,000 RMB penalty from Party B, Party B shall also compensate Party A for actual loss incurred, and restore land to original state.

c. If Party A does not turn over the land within the time stated, Party B has the rights to terminate this Agreement and seek the 100,000 RMB penalty from Party A, all additional items on the land will be property of Party B.

d. If Party B’s construction specifications and style does not comply with the overall planning of relative authorities, all results shall be Party B’s sole responsibility, any losses incurred have no relation to Party A.

6. Any matters not covered by this Agreement shall be resolved through the parties’ consultation.

This Agreement shall have two copies in the same format, Party A and B shall each hold one copy, the Agreement is effective after signed by both Parties.

Party A: Zhucheng City, Lubiao Town, West Lubiao Village

/s/ Haiyun Wang

Party B: Zhucheng City Ziyang Ceramics Co., Ltd

Legal Representative: /s/ Lingbo Chi

2006/1/30

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