Document:

NON-QUALIFIED
      STOCK OPTION AGREEMENT 

    

    THIS
      NON-QUALIFIED STOCK OPTION AGREEMENT (“Agreement”)
      is
      made and entered into as of the __ day of ______, 200_ (the “Grant
      Date”)
      between
Lev
      Pharmaceuticals, Inc.,
      a
      Delaware corporation having a principal place of business at 675 Third Avenue,
      Suite 2200, New York, New York 10017 (“Corporation”),
      and
___________
      (“Holder”),
      with
      respect to the following facts: 

    

    The
      Corporation’s Board of Directors has determined that it is in the best interests
      of the Corporation and its stockholders to grant the option provided for herein
      to the Holder. The parties agree as follows: 

    

    1.
      OPTION GRANTED. Corporation
      grants to Holder an option ” (the“Option”)
      to
      purchase the number of shares of $.01 par value common stock of Corporation
      (the
“Common
      Stock”)
      at a
      purchase price as described in Appendix
      “A.
      

    

    2.
      TIME OF EXERCISE OF OPTION.
      Holder
      may exercise the Option at any time as described in Appendix
      “A”,
      and
      from time to time until termination of the Option as provided in Paragraph
      11 of
      this Agreement. 

    

    3.
      METHOD OF EXERCISE.
      The
      Holder shall exercise the Option by delivery to the Corporation at its principal
      place of business, of (i) a written notice of exercise signed by the person
      or
      persons exercising the Option specifying the number of Options being exercised;
      and (ii) a certified or cashier’s check in payment of the Option purchase price
      in U.S. dollars; or (iii) full payment in shares of Corporation’s Common Stock
      held for the requisite period necessary to avoid a change to Corporation’s
      reported earnings and valued at fair market value as determined pursuant to
      Section 2.17 of the Corporation’s 2004 Omnibus Incentive Compensation Plan (the
“Plan”); or (iv) through a cashless exercise program implemented by the
      Corporation’s Board of Directors. Promptly upon receipt of such notice of
      exercise and the appropriate consideration, the Corporation will deliver or
      cause to be delivered to Holder stock certificate(s) representing the number
      of
      shares of the Corporation’s Common Stock purchased in accordance with the
      provisions of this Agreement and during Holder’s lifetime, duly registered in
      the name of the Holder and, at the Holder’s election, his or her spouse.

    

    4.
      CAPITAL ADJUSTMENTS. 

    

    (a)  The
      existence of the Option shall not affect in any way the right or power of
      Corporation or its stockholders to make or authorize any or all adjustments,
      recapitalizations, reorganizations, or other changes in Corporation’s capital
      structure or its business, or any merger or consolidation of Corporation or
      any
      issue of bonds, debentures, preferred stock having a preference to or affecting
      Corporation’s common stock or of any rights thereof, or the issuance of any
      securities convertible into any such common stock or of any rights, options,
      or
      warrants to purchase any common stock, or the dissolution or liquidation of
      Corporation, any sale or transfer of all or any part of its assets or business,
      or any other act or proceeding of Corporation, whether of a similar character
      or
      otherwise. 

    

    (b)
       The
      securities with respect to which the Option is granted are shares of Common
      Stock of the Corporation as presently constituted, but if and whenever, prior
      to
      the delivery by Corporation of all the shares of the common stock with respect
      to which the Option is granted, Corporation shall effect a subdivision or
      consolidation of shares or other capital readjustment, the payment of a stock
      dividend, or other increase or reduction of the number of shares of such common
      stock outstanding without receiving compensation therefore in money, services,
      or property, the number of shares of such common stock then remaining subject
      to
      the Option shall (a) in the event of an increase in the number of outstanding
      shares of such common stock, be proportionately increased, and the cash
      consideration payable per share of such common stock shall be proportionately
      reduced; and (b) in the event of a reduction in the number of outstanding shares
      of such common stock, be proportionately reduced, and the cash consideration
      payable per share of such common stock shall be proportionately increased.
      

    

    5.
      MERGER AND CONSOLIDATION.
      In the
      event of a merger of one or more corporations with and into Corporation or
      any
      consolidation of Corporation and one or more corporations, subject to the terms
      and conditions of Section 17 of the Plan, this Option may be assumed or an
      equivalent option may be substituted by such surviving corporation or a parent
      or subsidiary of such surviving corporation. 

    

    6.
      INVESTMENT UNDERTAKING.
      The
      Holder will hold the Option and the rights constituent thereto for investment
      and not with an intention of distribution, and upon exercise will deliver a
      letter confirming the Holder’s nondistributive intent with respect to the shares
      of Corporation’s Common Stock received as a result of the exercise of the
      Option. 

     

    
      
        
        

      

      
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    7.
      REPRESENTATIONS OF CORPORATION. During
      such time as the Option remains outstanding and unexpired, Corporation will
      reserve for issuance, upon the exercise of the Option, the number of shares
      of
      Corporation’s Common Stock that are subject to the Option. The shares of
      Corporation’s Common Stock subject to the Option, when issued, shall be fully
      paid and nonasessable. Corporation will pay, when due and payable, any and
      all
      taxes or fees that may be payable by Corporation with respect to the grant
      of
      the Option or the issuance of any shares of Corporation’s Common Stock or
      certificates therefore subject to the Option. This does not include, however,
      any federal, state or other personal income tax payable by Holder because of
      (i)
      the grant of the Option; (ii) the issuance of any share of the Corporation’s
      Common Stock upon exercise thereof; or (iii) any subsequent disposition of
      such
      shares, which shall remain the obligation of Holder. 

    

    8.
      WITHOLDING TAXES.
      If
      Corporation determines that it is required to withhold federal, state, or local
      tax as a result of the exercise of the Option, Holder, as a condition to the
      exercise of the Option, shall make arrangements satisfactory to the Corporation
      to enable it to satisfy such withholding requirements. 

    

    9.
      COMMITTEE DETERMINATION FINAL.
      The
      interpretation of this Agreement shall be reserved to and made by the Board
      of
      Directors of Corporation. The Board’s determinations shall be final as between
      the parties hereto. 

    

    10.
      TRANSFER OF OPTION. During
      Holder’s lifetime, the Option shall be exercisable only by Holder. The Option
      shall not be transferable by Holder, other than by the laws of descent and
      distribution upon Holder’s death. 

    

    11.
      TERMINATION OF OPTION.
      The
      Option shall terminate at 5:00 P.M. Eastern time on the date which is described
      in Appendix
      “A.”
This
      Option may sooner terminate in accordance with the terms and conditions
      described in Appendix
      “A.”

    

    12.
      RIGHTS AS A SHAREHOLDER. Holder
      will not be deemed to be a holder of any shares of Corporation’s Common Stock
      pursuant to the exercise of the Option until Holder pays the purchase price
      therefore and a stock certificate is delivered to Holder for those shares.
      No
      adjustment shall be made for dividends or other rights for which the record
      date
      is prior to the date such exercise and full payment for the optioned shares.
       Nothing
      in this Option Agreement shall interfere with or limit in any way the right
      of
      the Corporation, its Affiliates, and/or its Subsidiaries, to terminate Holder’s
      employment at any time or for any reason not prohibited by law, nor confer
      upon
      Holder any right to continue his or her employment for any specified period
      of
      time. This Option Agreement shall not constitute an employment contract with
      the
      Corporation, its Affiliates, and/or its Subsidiaries. 

    

    13.
      GOVERNING LAW. This
      Agreement is granted and delivered in the State of Delaware and is intended
      to
      be construed and enforced under the laws thereof. The Holder submits to the
      exclusive jurisdiction and venue of the federal or state courts of New York,
      to
      resolve any and all issues that may arise out of or relate to this Option
      Agreement.

    

    14.
      ADJUSTMENTS.
      The
      Corporation may make adjustments in the terms and conditions of, and the
      criteria included in, this Option in recognition of unusual or nonrecurring
      events affecting the Corporation or its financial statements or of changes
      in
      applicable laws, regulations, or accounting principles, whenever the Corporation
      determines that such adjustments are appropriate in order to prevent unintended
      dilution or enlargement of the benefits or potential benefits intended to be
      made available hereunder. The determination of the Corporation as to the
      foregoing adjustments, if any, shall be conclusive and binding on the Holder.
      

    

    15.
      REQUIREMENTS OF LAW.
      The
      grant of this Option and the issuance of shares of Common Stock upon exercise
      of
      this Option shall be subject to all applicable laws, rules, and regulations,
      and
      to such approvals by any governmental agencies or national securities exchanges
      as may be required. The Corporation shall have no obligation to issue or deliver
      evidence of title for shares of Common Stock which may be issued upon exercise
      of this Option prior to: (a) obtaining any approvals from governmental agencies
      that the Corporation determines are necessary or advisable; and (b) completion
      of any registration or other qualification of such shares of Common Stock under
      any applicable national or foreign law or ruling of any governmental body that
      the Corporation determines to be necessary or advisable. The inability of the
      Corporation to obtain authority from any regulatory body having jurisdiction,
      which authority is deemed by the Corporation’s counsel to be necessary to the
      lawful issuance and sale of any shares of Common Stock hereunder, shall relieve
      the Corporation of any liability in respect of the failure to issue or sell
      such
      shares of Common Stock as to which such requisite authority shall not have
      been
      obtained.

     

    
      
        
        

      

      
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    16.
      DESIGNATION FOR TAX PURPOSES. It
      is
      understood and acknowledged by Optionee, that this Option grant is intended
      to b
      a NQSO. The Optionee is therefore urged to consult with his individual tax
      advisor prior to exercising this Grant since the exercise of this Grant may
      result in adverse tax consequences including the payment of additional federal
      and/or state income taxes.

    

    17.
      CERTAIN DEFINITIONS.
      Capitalized terms used herein, to the extent not defined in this Non-Qualified
      Stock Option Agreement shall have the meanings ascribed to such term in the
      Plan.

    

    18.
      GENERAL PROVISIONS.
      Subject
      to the terms of the Plan, this Option constitutes the entire agreement of the
      parties and supersede all prior undertakings and agreements with respect to
      the
      subject matter hereof. Except where otherwise indicated by the context, any
      masculine term used herein also shall include the feminine, the plural shall
      include the singular, and the singular shall include the plural. In the event
      any provision of this Agreement shall be held illegal or invalid for any reason,
      the illegality or invalidity shall not affect the remaining parts of this
      Agreement and this Agreement shall be construed and enforced as if the illegal
      or invalid provision had not been included. No fractional shares of Common
      Stock
      shall be issued or delivered pursuant to this Option. The Corporation shall
      determine whether cash or other property shall be issued or paid in lieu of
      fractional shares of Common Stock or whether such fractional shares or any
      rights thereto shall be forfeited or otherwise eliminated.

    

    IN
      WITNESS THEREOF, the parties have made and entered into this Agreement in
      duplicate on the date specified in its preamble. 

    

    
      	
              CORPORATION

            	 	
              HOLDER
                 

            
	 	 	 
	
              LEV
                PHARMACEUTICALS, INC., 

              a
                Delaware corporation 

            	 	 
	 	 	 
	
              By:

            	
               

              
                

              

            	 	
                

              
                

              

            
	 	
                Chief
                Executive Officer

            	 	 

    

     

    
      
        
        

      

      
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    APPENDIX
      “A” 

    

    Holder
      Name: 

     

    Number
      of Options Granted:

    

    Option
      Price:

    

    Vesting
      Commencement Date: 

    

    Subject
      to the terms and conditions set forth in this Option, this Option may be
      exercised to purchase the shares of Common Stock covered by this Option (the
      “Shares”) as follows: 

    

    Option
      Expiration Date: 

    

    Termination
      Provisions:

    

    (a) Termination
      without Cause or by Holder:
      Notwithstanding the foregoing, in the event of a termination of Holder’s
      employment with the Corporation by the Corporation without Cause (as defined
      below) or in the event of the termination of Holder’s employment with the
      Corporation by Holder, Holder’s right to purchase shares of Common Stock of the
      Corporation pursuant to this Option, solely to the extent vested as of the
      date
      of termination of Holder’s employment with the Corporation, shall remain
      exercisable for a period of three months following such termination date, but
      in
      no event after the Option Expiration Date. 

    

    “Cause”
shall
      mean any of the following resulting from an act or omission of the Holder:
      (i)
      fraud, embezzlement, felony or similar act; (ii) failure to substantially
      perform duties as an employee or to abide by the general policies of the
      Corporation applicable to all employees (including, without limitation, policies
      relating to confidentiality and reasonable workplace conduct); (iii) an act
      of
      moral turpitude, or any similar act, to the extent that such act causes injury
      to the reputation of the Corporation; (iv) any act or omission which in the
      reasonable opinion of the Company could be financially injurious to the
      Corporation or injurious to the business reputation of the Corporation; (v)
      excessive absences from work, other than for illness or disability; or (vi)
      any
      other act constituting cause under any agreement entered into between the Holder
      and the Corporation.

    

    (b) Termination
      for Cause:
      In the
      event of a termination of Holder’s employment with the Corporation by the
      Corporation for Cause, all Options granted but not exercised as of the date
      of
      termination of Holder’s employment with the Corporation shall terminate
      immediately and be null and void. 

    

    (c) Death
      or Disability:
      In the
      event of a termination of Holder’s employment with the Corporation due to
      Holder’s death, or Disability (as defined in Section 22(E)(3) of the Internal
      Revenue Code of 1986, as amended), the Holder’s (or her estate’s or legal
      representative’s) right to purchase shares of Common Stock of the Corporation
      pursuant to this Option, to the extent vested as of the date of termination
      of
      Holder’s employment with the Corporation, shall remain exercisable for a period
      of twelve (12) months following such termination date, but in no event after
      the
      Option Expiration Date. 

    

    (d) Unvested
      Options:
      Unless
      otherwise specified in this Option certificate, each unvested Option granted
      pursuant hereto shall terminate immediately upon termination of the Holder’s
      employment or contractual relationship with the Corporation for any reason
      whatsoever, including Disability.

     

    
      
        
        

      

      
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          4
          -Exhibit 10.1

                                                               EXECUTION VERSION

                                 AMENDMENT NO. 1
                         TO MASTER REPURCHASE AGREEMENT

     Amendment No. 1, dated as of June 12, 2008 (this "Amendment"), between
CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the "Buyer") and CHIMERA
INVESTMENT CORPORATION (the "Seller").

                                    RECITALS
                                    --------

     The Buyer and the Seller are parties to that certain Master Repurchase
Agreement, dated as of January 18, 2008 (the "Existing Repurchase Agreement"; as
amended by this Amendment, the "Repurchase Agreement"). Capitalized terms used
but not otherwise defined herein shall have the meanings given to them in the
Existing Repurchase Agreement.

     The Buyer and the Seller have agreed, subject to the terms and conditions
of this Amendment, that the Existing Repurchase Agreement be amended to reflect
certain agreed upon revisions to the terms of the Existing Repurchase Agreement.

     Accordingly, the Buyer and the Seller hereby agree, in consideration of the
mutual premises and mutual obligations set forth herein, that the Existing
Repurchase Agreement is hereby amended as follows:

     SECTION 1. Profitability. For purposes of this Amendment, this Section 1
will be effective only for the period from and including January 1, 2008 through
and including March 31, 2008 (the "Profit Waiver Period").

     Section 14(e) of the Existing Master Repurchase Agreement is hereby amended
by deleting it in its entirety and replacing it with the following language,
which amendment shall be effective solely during the Profit Waiver Period:

     "e. Maintenance of Profitability. Seller shall not permit, for any Test
Period, Net Income for such Test Period, before income taxes for such Test
Period and distributions made during such Test Period to be a loss greater than
$25,000,000."

     SECTION 2. Definitions. Section 2 of the Existing Repurchase Agreement is
hereby amended by:

     2.1 adding the following defined terms in their proper alphabetical order:

     "Seasoned Mortgage Loan" means a Conforming Mortgage Loan or a Jumbo
Mortgage Loan with an origination date of greater than ninety (90) but no
greater than one hundred and eighty (180) days prior to the related Purchase
Date.

     2.2 deleting the definitions of "Market Value", "Maximum Aggregate Purchase
Price" and "Pricing Rate" in their entirety and replacing them with the
following language:
<PAGE>

     "Market Value" means, with respect to any Purchased Mortgage Loan as of any
date of determination, the whole-loan servicing released fair market value of
such Purchased Mortgage Loan on such date as determined by Buyer (or an
Affiliate thereof) in its sole discretion. Without limiting the generality of
the foregoing, Seller acknowledges that (a) in the event that a Purchased
Mortgage Loan is not subject to a Take-out Commitment, Buyer may deem the Market
Value for such Mortgage Loan to be no greater than par and (b) the Market Value
of a Purchased Mortgage Loan may be reduced to zero by Buyer if:

          (i) a breach of a representation, warranty or covenant made by Seller
     in this Agreement with respect to such Purchased Mortgage Loan has occurred
     and is continuing;

          (ii) such Purchased Mortgage Loan is a Non-Performing Mortgage Loan;

          (iii) such Purchased Mortgage Loan has been released from the
     possession of the Custodian under the Custodial Agreement (other than to a
     Take-out Investor pursuant to a Bailee Letter) for a period in excess of
     ten (10) calendar days;

          (iv) such Purchased Mortgage Loan has been released from the
     possession of the Custodian under the Custodial Agreement to a Take-out
     Investor pursuant to a Bailee Letter for a period in excess of 45 calendar
     days;

          (v) such Purchased Mortgage Loan has been subject to a Transaction
     hereunder for a period of greater than 364 days;

          (vi) such Purchased Mortgage Loan is no longer acceptable for purchase
     by Buyer (or an Affiliate thereof) under any of the flow purchase or
     conduit programs for which Seller then has been approved due to a
     Requirement of Law relating to consumer credit laws or otherwise;

          (vii) when the Purchase Price for such Purchased Mortgage Loan is
     added to other Purchased Mortgage Loans, the aggregate Purchase Price of
     all Super Jumbo Mortgage Loans that are Purchased Mortgage Loans exceeds
     25% of the Maximum Aggregate Purchase Price;

          (viii) when the Purchase Price for such Purchased Mortgage Loan is
     added to other Purchased Mortgage Loans, the aggregate Purchase Price of
     all Alt-A Mortgage Loans that are Purchased Mortgage Loans exceeds 10% of
     the Maximum Aggregate Purchase Price;

          (ix) when the Purchase Price for such Purchased Mortgage Loan is added
     to other Purchased Mortgage Loans, the aggregate Purchase Price of all
     Seasoned Mortgage Loans that are Purchased Mortgage Loans exceeds 50% of
     the Maximum Aggregate Purchase Price.

                                       2
<PAGE>

     "Maximum Aggregate Purchase Price" means THREE HUNDRED MILLION DOLLARS
($300,000,000).

     "Pricing Rate" means the rate which may be mutually agreed to by the Buyer
and the Seller from time to time.

     SECTION 3. Mortgage Loan Representations. Schedule 1 of the Existing
Repurchase Agreement is hereby amended by deleting clause (mm) in its entirety
and replacing it with the following:

     "(mm) Origination Date. The Purchase Date is no more than (i) with respect
to Seasoned Mortgage Loans, one hundred and eighty (180) days following the
origination date and (ii) with respect to all Mortgage Loans other than Seasoned
Mortgage Loans, ninety (90) days following the origination date."

     SECTION 4. Schedules. The Existing Repurchase Agreement is hereby amended
by adding Exhibit A hereto as Schedule 3A and 3B thereto.

     SECTION 5. Termination of Repurchase Agreement. The Repurchase Agreement
may be terminated by Seller in its sole discretion upon payment in full of all
Obligations outstanding thereunder, and satisfaction of all other non-payment
obligations. Upon such termination, no additional fees will be charged to Seller
other than fees accrued prior to such termination.

     SECTION 6. Conditions Precedent to this Amendment. This Amendment shall
become effective as of June 12, 2008 (the "Amendment Effective Date"), subject
to the satisfaction of the following conditions precedent:

     6.1 Delivered Documents. On the Amendment Effective Date, the Buyer shall
have received the following documents, each of which shall be satisfactory to
the Buyer in form and substance:

     (a) this Amendment, executed and delivered by a duly authorized officer of
the Buyer and Seller; and

     (b) such other documents as the Buyer or counsel to the Buyer may
reasonably request.

     SECTION 7. Representations and Warranties. The Seller hereby represents and
warrants to the Buyer that it is in compliance with all the terms and provisions
set forth in the Repurchase Agreement on its part to be observed or performed,
and that no Event of Default has occurred or is continuing, and hereby confirms
and reaffirms the representations and warranties contained in Section 13 of the
Repurchase Agreement.

     SECTION 8. Limited Effect. Except as expressly amended and modified by this
Amendment, the Existing Repurchase Agreement shall continue to be, and shall
remain, in full force and effect in accordance with its terms. all continue to
be, and shall remain, in full force and effect in accordance with its terms.
Section 1 of this Amendment shall expire upon the expiration of the Profit
Waiver Period at which time the related terms of the Existing Repurchase
Agreement shall revert to that set forth in the Existing Repurchase Agreement.

                                       3
<PAGE>

     SECTION 9. Counterparts. This Amendment may be executed by each of the
parties hereto on any number of separate counterparts, each of which shall be an
original and all of which taken together shall constitute one and the same
instrument.

     SECTION 10. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT
REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF.

                            [SIGNATURE PAGE FOLLOWS]

                                       4

<PAGE>

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

Buyer:                        CREDIT SUISSE FIRST BOSTON
                              MORTGAGE CAPITAL LLC,
                              as Buyer

                              By:         /s/ Bruce Kaiserman
                                  Name:   Bruce Kaiserman
                                  Title:  Vice President

Seller:                       CHIMERA INVESTMENT CORPORATION,
                              as Seller

                              By:         /s/ Matthew Lambiase
                                  Name:   Matthew Lambiase
                                  Title:  President

<PAGE>

                                                    EXHIBIT A to Amendment No. 1

                                   SCHEDULE 3A
                 APPROVED SERVICERS FOR SERVICING RELEASED LOANS

PHH Mortgage Corporation

Wells Fargo Bank, N.A.

<PAGE>

                                  SCHEDULE 3B
                 APPROVED SERVICERS FOR SERVICING RETAINED LOANS

PHH Mortgage Corporation

Wells Fargo Bank, N.A.

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