Document:

Exhibit 10.1(b)

                             Schedule of Purchasers
                             ----------------------

<TABLE>
<CAPTION>

                           Number of Series I                            Incentive Bonus
Name of Purchaser      Preferred Shares Purchased     Purchase Price        Dislarged
-----------------      --------------------------     --------------        ---------

<S>                                <C>                <C>                <C>
Michael J. Parrella                81                 $       81,000     $   125,000

Irene Lebovics                     27                 $       27,000     $    46,000

Cy E. Hammond                      41                 $       41,000     $    72,000

R. Wayne Darville               63.33253              $    63,332.53     $   100,000

</TABLE>Exhibit 10.1  

FORBEARANCE
AGREEMENT 

        This
FORBEARANCE AGREEMENT (this “Agreement”) is entered into as of March 22, 2005 (the
“Closing Date”), between and among Bradley Pharmaceuticals, Inc., as Borrower (the
“Borrower”), certain subsidiaries of the Borrower, as Guarantors (the “Guarantors”) and
Wachovia Bank, National Association, as Administrative Agent (in such capacity, the
“Agent”) for and on behalf of the various financial institutions from time to time party
to the Credit Agreement referenced below (the “Lenders”). Capitalized terms used herein
but not otherwise defined shall have the meanings given to such terms in the Credit
Agreement (as defined below).  

RECITALS  

        A.
The Borrower, the Guarantors, the Agent and the Lenders are parties to that certain
Credit Agreement dated as of September 28, 2004 (as amended and otherwise modified from
time to time, the “Credit Agreement”), pursuant to which the Lenders have made and may
hereafter make loans and advances and other extensions of credit to the Borrower.  

        B.
Events of Default exist under the Credit Agreement arising from (i) the Borrower’s
failure to furnish the financial statements required under Section 5.1(a) of the Credit
Agreement as and when required, (ii) the Borrower’s failure to file the Form 10-K with
the SEC within the time period prescribed by the SEC in violation of Section 5.11 of the
Credit Agreement and (iii) the cross-default to the Convertible Bonds under Sections
7.1(d) and (e) of the Credit Agreement triggered by the default under the Convertible
Bonds resulting from the Borrower’s failure to file the Form 10-K with the SEC within the
time period prescribed by the SEC and to delivery a copy of such Form 10-K to the trustee
with respect to the Convertible Bonds (the “Acknowledged Events of Default”).  

        C.
The Borrower has requested that the Lenders forbear from exercising certain rights and
remedies arising from the Acknowledged Events of Default through and until April 22, 2005. 

        D.
The Required Lenders have agreed to do so pursuant to the terms and conditions set forth
herein and have directed the Agent to execute this Agreement on their behalf. 

        NOW,
THEREFORE, in consideration of the premises and the mutual covenants hereinafter
contained, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows: 

        1.
Estoppel, Acknowledgement and Reaffirmation. As of March 18, 2005, the total outstanding
principal amount of the Term Loan was $71,250,000, which amount constitutes a valid and
subsisting obligation of the Borrower to the Lenders that is not subject to any credits,
offsets, defenses, claims, counterclaims or adjustments of any kind. The Borrower and the
Guarantors hereby acknowledge their respective obligations under the Credit Documents,
reaffirm that each of the liens and security interests created and granted in or pursuant
to the Credit Documents are valid and subsisting and agree that this Agreement shall in
no manner impair or otherwise adversely affect such obligations or such liens and
security interests.  

        2.
Forbearance. Subject to the terms and conditions set forth herein, the Agent and
the Lenders shall, until the occurrence of a Forbearance Termination Event (as defined
below), forbear from exercising any rights or remedies (including without limitation the
right to institute the default rate of interest pursuant to Section 2.10 of the Credit
Agreement) to the extent such rights arise exclusively as a result of the Acknowledged
Events of Default; provided, however, that the Agent and the Lenders shall be  

	 	
	 

free to exercise any or all of their
rights and remedies arising on account of the Acknowledged Events of Default at any time
upon or after the occurrence of a Forbearance Termination Event (defined below). 

        3.
Forbearance Termination Events. Nothing set forth herein or contemplated hereby is
intended to constitute an agreement by the Agent or the Lenders to forbear from
exercising any of the rights available to them under the Credit Agreement, the other
Credit Documents, or applicable law (all of which rights and remedies are hereby
expressly reserved by the Agent and the Lenders) upon or after the occurrence of a
Forbearance Termination Event (as defined below). As used herein, a “Forbearance
Termination Event” shall mean the earliest to occur of: (a) any Default or Event of
Default under any of the Credit Documents other than the Acknowledged Events of Default;
(b) any breach of this Agreement by the Borrower or any of the Guarantors; (c) the
Company’s receipt of a notice of a default under the Convertible Bonds and the expiration
of any applicable grace periods before such default is cured; and (d) April 22, 2005. The
period from the Closing Date to (but excluding) the date that a Forbearance Termination
Event occurs shall be referred to as the “Forbearance Period.”  

        4.
Limitation on Advances. During the Forbearance Period, the Borrower shall not request,
and the Lenders shall have no obligation to make, any additional Extensions of Credit
under the Credit Agreement, whether in the form of Revolving Loans, Swingline Loans,
Letters of Credit or otherwise. In addition, the Borrower shall continue to be permitted
to convert Alternate Base Rate Loans into LIBOR Rate Loans, or extend or continue
existing LIBOR Rate Loans, so long as any such LIBOR Rate Loans have Interest Periods of
no longer than two months.  

        5.
Cooperation with Consultants. The Agent reserves the right to engage, through counsel or
otherwise, a consultant (the ”Consultant”) to analyze and examine the Borrower’s
operating and financial condition. If the Agent engages a Consultant, the Borrower shall
(i) provide the Consultant reasonable access to all business records and appropriate
personnel to facilitate the Consultant’s review and analysis, and (ii) reimburse the
Agent for the fees and expenses of the Consultant upon demand.  

        6.
Reporting. In addition to any financial statements, reports or other information required
under the Credit Agreement during the Forbearance Period, the Borrower shall deliver, or
cause to be delivered any information the Administrative Agent may reasonably request.  

        7.
Expenses. Upon demand therefor, the Borrower shall pay all reasonable out-of-pocket
expenses incurred by the Agent (including without limitation the reasonable fees and
out-of-pocket expenses of counsel) in connection with the Credit Agreement and this
Agreement.  

        8.
Conditions Precedent. As conditions precedent to the effectiveness of this Agreement, (a)
the Agent shall have received (i) counterparts to this Agreement, duly executed by the
Borrower and the Guarantors and (ii) written direction from the Required Lenders for the
Agent to execute this Agreement on their behalf and (b) the Borrower shall have paid all
fees and expenses of the Agent’s counsel incurred through the Closing Date; and  

        9.
Representations and Warranties. The Borrower and the Guarantors each hereby represents
and warrants to the Agent and Lenders that:  

	  	        (a)
other than the Acknowledged Events of Default, no Default          or Event of Default
exists under any of the Credit Documents on and as          of the date hereof; 

	  	        (b)
after giving effect to this Agreement, the representations          and warranties of the
Borrower and the Guarantors contained in Article          III of the Credit Agreement are
true, accurate and complete in all          material respects on and as of the date
hereof to the same extent as          though  

	 	
2	 

	  	
made
on and as of such date except to the extent such          representations and warranties
specifically relate to an earlier date;          and 

	  	        (c)
(i) the execution, delivery and performance by the          Borrower and the Guarantors
of this Agreement are within the Borrower          and the Guarantors’ respective
corporate powers and have been duly          authorized by all necessary corporate action
on the part of the          Borrower and the Guarantors, (ii) this Agreement constitutes
the legal,          valid and binding obligation of the Borrower and the Guarantors
         enforceable against the Borrower and the Guarantors in accordance with
         its terms and (iii) neither this Agreement, nor the execution, delivery
         or performance by the Borrower or any of the Guarantors hereof (A)
         violates any law or regulation, or any order or decree of any court or
         Governmental Authority, (B) conflicts with or results in the breach or
         termination of, constitutes a default under or accelerates any
         performance required by, any material indenture, mortgage, deed of
         trust, lease, agreement or other instrument to which the Borrower or
         any Guarantor is a party or by which the Borrower or any Guarantor, or
         any of its respective property is bound, or (C) results in the creation
         or imposition of any lien upon any of the Collateral. 

        10.
Release. In consideration of the willingness of the Agent and the Lenders to enter into
this Agreement, the Borrower and each of the Guarantors hereby releases the Agent and the
Lenders, and the officers, employees, representatives, counsel, subsidiaries, affiliates,
trustees and directors of each, from any and all actions, causes of action, claims,
demands, damages and liabilities of whatever kind or nature, in law or in equity, now
known or unknown, suspected or unsuspected to the extent that any of the foregoing arises
from any action or failure to act on or prior to the date hereof.  

        11.
Reference to and Effect on Credit Agreement. Except as specifically modified herein, the
Credit Documents shall remain in full force and effect. The execution, delivery and
effectiveness of this Agreement shall not operate as a waiver of any right, power or
remedy of the Lenders or the Agent under any of the Credit Documents, or constitute a
waiver or amendment of any provision of any of the Credit Documents, except as expressly
set forth herein.  

        12.
Further Assurances. Each of the Agent, the Lenders, the Guarantors and the Borrower
agrees to execute and deliver, or to cause to be executed and delivered, all such
instruments as may reasonably be requested to effectuate the intent and purposes, and to
carry out the terms, of this Agreement.  

        13.
Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF
NEW YORK (WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THEREOF); PROVIDED THAT THE
BORROWER, THE AGENT AND THE LENDERS SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW.  

        14.
Miscellaneous.  

	  	        (a)
This Agreement shall be binding on and shall inure to the          benefit of the
Borrower, the Guarantors, the Agent, the Lenders and          their respective successors
and permitted assigns. The terms and          provisions of this Agreement are for the
purpose of defining the          relative rights and obligations of the Borrower, the
Guarantors, the          Agent and the Lenders with respect to the transactions
contemplated          hereby and there shall be no third party beneficiaries of any of
the          terms and provisions of this Agreement. 

	  	        (b)
Section headings in this Agreement are included herein for          convenience of
reference only and shall not constitute a part of this          Agreement for any other
purpose. 

	 	
3	 

	  	        (c)
Wherever possible, each provision of this Agreement shall          be interpreted in such
a manner as to be effective and valid under          applicable law, but if any provision
of this Agreement shall be          prohibited by or invalid under applicable law, such
provision shall be          ineffective to the extent of such prohibition or invalidity,
without          invalidating the remainder of such provision or the remaining
         provisions of this Agreement. 

	  	        (d)
Except as otherwise provided in this Agreement, if any          provision contained in
this Agreement is in conflict with, or          inconsistent with, any provision in the
Credit Documents, the provision          contained in this Agreement shall govern and
control. 

	  	        (e)
This Agreement may be executed in any number of separate          counterparts, each of
which shall collectively and separately          constitute one agreement. Delivery of an
executed counterpart of this          Agreement by telecopy shall be effective as an
original and shall          constitute a representation that an original shall be
delivered to the          Agent. 

	  	        (f)
The parties hereto agree that this Agreement shall constitute a Credit Document for
purposes of the Credit Agreement and the other Credit Documents and that Sections 9.5,
9.14, 9.15 and 9.18 of the Credit Agreement are incorporated by reference into this
Agreement, mutatis mutandis. 

        15.
Entirety. This Agreement and the other Credit Documents embody the entire agreement
between the parties and supersede all prior agreements and understandings, if any,
relating to the subject matter hereof. This Agreement and the other Credit Documents
represent the final agreement between the parties and may not be contradicted by evidence
of prior, contemporaneous or subsequent oral agreements of the parties.  

[Remainder of Page
Left Blank Intentionally.] 

	 	
4	 

        IN
WITNESS WHEREOF, this Agreement has been duly executed as of the date first written above. 

	BORROWER:	     	
      BRADLEY PHARMACEUTICALS, INC. 

      

	 	 	 	 
	 	 	By:	/s/ R. Brent Lenczycki
      

    
	 	 	Name:	R. Brent Lenczycki
	 	 	Title:	Chief Financial Officer 
	 	 	 
	GUARANTORS:	 	DOAK DERMATOLOGICS, INC.
	 	 	 	 
	 	 	By:	/s/ R. Brent Lenczycki
      

    
	 	 	Name:	R. Brent Lenczycki
	 	 	Title:	Chief Financial Officer 
	 	 	 
	 	 	BIOGLAN PHARMACEUTICALS CORP.
	 	 	 	 
	 	 	By:	/s/ R. Brent Lenczycki
      

    
	 	 	Name:	R. Brent Lenczycki
	 	 	Title:	Chief Financial Officer 

BRADLEY PHARMACEUTICALS,
INC.  

  FORBEARANCE AGREEMENT 

	 	
	 

	AGENT:	     	
      WACHOVIA BANK, NATIONAL ASSOCIATION 

                                            as  Administrative  Agent,  for, on behalf of
and at the   

        direction  of
        the Required Lenders 

      

	 	 	 	 
	 	 	By:	/s/ Christian Bradeen
      

    
	 	 	Name:	Christian Bradeen

BRADLEY PHARMACEUTICALS,
INC.  

  FORBEARANCE AGREEMENT

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