Document:

Exhibit 10.6

 

INVERNESS
MEDICAL INNOVATIONS, INC.

 

2001
EMPLOYEE STOCK PURCHASE PLAN

 

Second
Amendment

 

The Inverness Medical Innovations, Inc. 2001 Employee Stock Purchase
Plan shall be amended as follows, effective as of the date hereof:

 

1.               Insert the following sentence after the last full
sentence of Section 2, Offerings:

 

The Board may also commence a special Offering for
employees of Designated Subsidiaries who are eligible to participate in the
Plan that will begin on the date that an acquired company is acquired or
becomes a Designated Subsidiary, and will end on the next June 30 or December
31, which ever shall occur first.

 

2.               Delete the text of Section 3, Eligibility, in its
entirety and replace it with the following:

 

All employees of the Company (including employees who
are also directors of the Company) and all employees of each Designated
Subsidiary (as defined in Section 11) are eligible to participate in any
one or more of the Offerings under the Plan, provided that as of the first day
of the applicable Offering (the “Offering Date”) they are customarily employed
by the Company or a Designated Subsidiary for more than 20 hours a week and
have completed at least three (3) consecutive calendar months of employment
with the Company or any Designated Subsidiary (including periods of employment
with the Designated Subsidiary which pre-date such designation and/or the
acquisition of the Designated Subsidiary by the Company or any subsidiary
thereof).  To the extent that a
subsidiary of the Company was made a Designated Subsidiary subsequent to an
acquisition pursuant to which a substantial amount of assets was acquired by
such Designated Subsidiary, whether via a merger, asset acquisition or
otherwise, employment with any legal predecessor entity or any entity
transferring assets to the Designated Subsidiary as part of such acquisition
shall be counted as employment with the Designated Subsidiary.

 

3.               To designate Inverness Medical - BioStar Inc. as a
Designated Subsidiary under the Plan.

 

4.               To designate Inverness Medical Iberica, S.A.U. as a
Designated Subsidiary under the Plan.

 

 

 

5.               Except as herein amended, the provisions of the Plan
shall remain in full force and effect.

 

 

 

 

 

APPROVED BY THE BOARD OF DIRECTORS: 
October 14, 2005

 

 

 

2Exhibit
10.18

 

STOCK PURCHASE AGREEMENT

 

                THIS STOCK PURCHASE AGREEMENT (the “Agreement”), is made and
entered into as of February 3, 2006, by and among Inverness Medical
Innovations, Inc. a Delaware corporation (the “Company”), and the undersigned prospective investor (the “Investor”).

 

1.                                      PURCHASE AND SALE OF SHARES; CLOSING.

1.1.          Purchase and Sale of Shares.

(a)   Subject to the terms and conditions of this
Agreement, the Investor agrees to purchase from the Company the number of
shares of common stock of the Company, par value $0.001 per share (the “Common Stock”), indicated on
the Investor’s signature page to this Agreement (the “Subscription Amount”) at a purchase
price of $24.41 per share (the “Share Price”) for an
aggregate purchase price indicated on the signature page hereto (the “Aggregate Purchase Price”).

(b)   The Investor shall pay the Aggregate Purchase
Price by delivering immediately available good funds in United States Dollars
by wire transfer no later than the Closing Date, as defined in Section 1.4(a)
below, to the Company in accordance with the wire transfer instructions
attached hereto as Exhibit A.

1.2.          Aggregate Number of Shares Offered. The Company is
simultaneously entering into multiple agreements in substantially the same form
as this Agreement with certain other investors (the “Other Investors”). 
Pursuant to this Agreement and the agreements with the Other Investors,
the Company is selling an aggregate of up to 3,400,000 shares of Common Stock
(the “Shares”) at the Share Price
(the “Offering”).

1.3.          Binding Effect of this Agreement. The Investor
acknowledges and agrees that this Agreement shall be binding upon the Investor
upon the submission to the Company of the Investor’s signed counterpart
signature page to this Agreement (the “Subscription”); provided
that, in the event the Closing Date, as defined in Section 1.4(a) below,
shall not have occurred on or prior to February 13, 2006 (such date subject to
extension by up to 15 days by the Company by written notice thereof to the
Investor) (the “Termination Date”), this Agreement shall be
terminated and be of no force and effect. 
The Company, in its sole discretion, may terminate the Offering at any
time prior to the Closing Date without penalty. 
The execution of this Agreement by the Investor or solicitation of the
investment contemplated hereby shall create no obligation on the part of the
Company to accept any Subscription, in part or in full, or complete the
Offering.  The Investor hereby acknowledges
and agrees that the Subscription hereunder is irrevocable by the Investor, and
that, except as required by law, the Investor is not entitled to cancel,
terminate or revoke this Agreement or any agreements of the Investor hereunder
and that if the Investor is an individual this Agreement shall survive the
death or disability of the Investor and shall be binding upon and inure to the
benefit of the parties and their heirs, executors, administrators, successors,
legal representatives and permitted assigns.

 

 

1.4.          Delivery of
Shares at Closing.

(a)   The completion of the purchase and sale of
the Shares (the “Closing”) shall occur, subject to
the satisfaction or waiver of the conditions set forth in Section 1.5
and Section 1.6 (other than those intended to be satisfied at Closing),
at the offices of Foley Hoag LLP, World Trade Center West, 155 Seaport
Boulevard, Boston, Massachusetts 02210. 
The date upon which the Closing actually occurs is herein referred to as
the “Closing
Date”.

(b)   Prior to the Closing, the Company shall
authorize its transfer agent to issue and the transfer agent shall issue to the
Investor one or more stock certificates registered in the name of the Investor,
or in such name of nominee(s) designated by the Investor in writing,
representing in the aggregate a number of shares of Common Stock equal to the
Subscription Amount divided by the Share Price.

1.5.          Conditions to the Company’s Obligation to Complete
Purchase and Sale.  Upon acceptance
of the Subscription, the Company’s obligation to issue and sell the Shares to
the Investor at Closing is subject to the satisfaction, on or before the
Closing Date, of each of the following conditions, provided that these
conditions are for the Company’s sole benefit and may be waived by the Company
at any time in its sole discretion by providing the Investor with prior written
notice thereof:

(a)   Payment of Aggregate Purchase Price.
The Investor shall make payment to the Company by wire transfer of the
Aggregate Purchase Price in accordance with Section 1.1(b); and

(b)   Representations and Warranties; Covenants.
The representations and warranties of the Investor set forth in Article 3
hereof shall be true and correct as of the date hereof and as of the Closing
Date as though made at that time (except for representations and warranties
that speak as of a specific date (which shall be true and correct as of such
date)), and the Investor shall have performed, satisfied and complied with in
all material respects the covenants, agreements and conditions required by this
Agreement to be performed, satisfied or complied with by the Investor on or
prior to the Closing Date.

1.6.          Conditions to the Investor’s Obligation to Complete
Purchase and Sale. The obligation of the Investor hereunder to purchase the
Shares from the Company at the Closing is subject to the satisfaction, on or
before the Closing Date, of each of the following conditions, provided that
these conditions are for the Investor’s sole benefit and may be waived by the
Investor at any time in its sole discretion by providing the Company with prior
written notice thereof:

(a)   Opinion of Counsel. Receipt by the
Investors of an opinion letter of Foley Hoag LLP, counsel to the Company, dated
the Closing Date, in substantially the form attached hereto as Exhibit B;

(b)   Representations and Warranties; Covenants.
The representations and warranties of the Company set forth in Article 2
hereof shall be true and correct in all material respects as of the date hereof
and as of the Closing Date as though made at that time (except for
representations and warranties that speak as of a specific date (which shall be
true and correct in

 

2

 

all material respects as of
such date)), and the Company shall have performed, satisfied and complied with
in all material respects the covenants, agreements and conditions required by
this Agreement to be performed, satisfied or complied with by the Company on or
prior to the Closing Date;

(c)   Officer’s Certificate.  The Company shall have delivered a
certificate, dated the Closing Date, duly executed on behalf of the Company by
its Chief Executive Officer to the effect set forth in clause (b) above;

(d)   Secretary’s Certificate.  The Company shall have delivered a
certificate, dated the Closing Date, duly executed by its Secretary or
Assistant Secretary or other appropriate officer, certifying that the attached
copies of the Company’s Certificate of Incorporation, Certificate of
Designations (as defined below), by-laws and the resolutions of the Board of
Directors or Executive Committee of the Board of Directors approving this
Agreement and the transactions contemplated hereby, are all true, complete and
correct and remain unamended and in full force and effect;

(e)   No Litigation.  On the Closing Date, no legal action, suit or
proceeding shall be pending or overtly threatened which seeks to restrain or
prohibit the transactions contemplated by this Agreement.

2.                                      REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

                Except
as set forth on the Schedule of Exceptions attached hereto as Schedule A or as set forth in
the SEC Documents (as defined below), the Company hereby represents and
warrants to the Investor as follows:

 

2.1.          Subsidiaries. 
The Company has no direct or indirect subsidiaries (as defined by Rule
405 under the Securities Act of 1933, as amended (the “Securities Act”) other than
as specified in the SEC Documents (the “Subsidiaries”).

2.2.          Organization and Qualification.  The Company and each of its Subsidiaries is
duly organized and validly existing and is in good standing under the laws of
the jurisdiction of its incorporation or organization (as applicable), except
where the failure to be in good standing would not have a material adverse
effect upon the business, assets, financial condition or results of operation
of the Company and its Subsidiaries taken as a whole (a “Material Adverse Effect”).  The Company and each of its Subsidiaries has
full corporate power and authority to own, operate and occupy its properties
and to conduct its business as presently conducted and is registered or
qualified to do business and in good standing in each jurisdiction in which it
owns or leases property or transacts business and where the failure to be so
qualified would have a Material Adverse Effect, and to the Company’s knowledge,
no proceeding has been instituted in any such jurisdiction revoking, limiting
or curtailing, or seeking to revoke, limit or curtail, such power and authority
or qualification.

2.3.          Due Authorization. The Company has all requisite
corporate power and authority to execute, deliver and perform its obligations
under this Agreement.  This Agreement has
been duly authorized and validly executed and delivered by the Company and,
assuming due

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authorization, execution and
delivery by the other party hereto, constitutes a valid and legally binding
obligation of the Company enforceable against the Company in accordance with
its terms, except (i) to the extent rights to indemnity and contribution may be
limited by state or federal securities laws or the public policy underlying
such laws, (ii) enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, fraudulent conveyance, moratorium or similar laws
affecting creditors’ and contracting parties’ rights generally and (iii)
enforceability may be limited by general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

2.4.          Non-Contravention. The execution and delivery of
this Agreement, the issuance and sale of the Shares to be sold by the Company
under this Agreement, the performance by the Company of its obligations under
this Agreement and the consummation of the transactions contemplated hereby
will not (A) conflict with or constitute a violation of, or default (with or
without the giving of notice or the passage of time or both) under, (i) any
material bond, debenture, note or other evidence of indebtedness, or under any
material lease, indenture, mortgage, deed of trust, loan agreement, joint
venture or other agreement or instrument to which the Company is a party or by
which it or its properties are bound, (ii) the Certificate of Incorporation or
by-laws of the Company or any of its Subsidiaries, or (iii) any law,
administrative regulation, ordinance or order of any court of competent
jurisdiction or governmental agency, arbitration panel or authority applicable
to the Company, any of its Subsidiaries or their respective properties, which
conflict, violation or default would be likely to result in a Material Adverse
Effect, or (B) result in the creation or imposition of any lien, encumbrance,
claim, security interest or restriction whatsoever upon any of the material
properties or assets of the Company or any of its Subsidiaries or an acceleration
of indebtedness pursuant to any obligation, agreement or condition contained in
any material bond, debenture, note or any other evidence of indebtedness or any
material indenture, mortgage, deed of trust or any other agreement or
instrument to which the Company or any of its Subsidiaries is a party or by
which the Company or any of its Subsidiaries is bound or to which any of the
property or assets of the Company or any of its Subsidiaries is subject.  No consent, approval, authorization or other
order of, or registration, qualification or filing with, any regulatory body,
administrative agency, self-regulatory organization, stock exchange or market,
or other governmental body in the United States is required for the execution
and delivery of this Agreement, the valid issuance and sale of the Shares to be
sold pursuant to this Agreement other than such as have been made or obtained,
are disclosed in Schedule 2.4 or for any securities filings required to
be made under federal or state securities laws.

2.5.          Reporting Status. 
The Company has filed in a timely manner all documents that the Company
was required to file under the Securities Exchange Act of 1934, as amended (the
“Exchange
Act”), since January 1, 2003 (the “SEC Documents”).  The SEC Documents complied as to form in all
material respects with the Securities and Exchange Commission’s (the “SEC”) requirements
as of their respective filing dates, and the information contained therein as
of the date thereof did not contain an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they
were made, not misleading, except to the extent that information contained in
any such document has been revised or superseded by a later filed SEC Document.

 

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2.6.          Capitalization. Immediately prior to the Closing,
the authorized capital stock of the Company consists of:

i.                                          50,000,000
shares of Common Stock, $0.001 par value per share of which 27,652,889 shares
are issued and outstanding at the close of business on January 31, 2006; and

ii.                                       5,000,000
shares of Preferred Stock, $0.001 par value per share.  Each series of Preferred Stock designated by
the Board of Directors is listed on Schedule 2.6 hereto.

All subscriptions, warrants, options, convertible
securities, and other rights (contingent or other) to purchase or otherwise
acquire equity securities of the Company issued and outstanding as of January
31, 2006, or contracts, commitments, understandings, or arrangements by which
the Company or any of its subsidiaries is or may be obligated to issue shares
of Common Stock, or securities or rights convertible or exchangeable for shares
of Common Stock, are as set forth on Schedule 2.6 hereto.  Except as set forth on Schedule 2.6,
or as a result of exercises of stock options pursuant to the Company’s stock
option and incentive plan, no Common Stock nor any subscription, warrant,
option, convertible security, or other right (contingent or other) to purchase
or otherwise acquire equity securities of the Company is outstanding on the
Closing Date.  The issued and outstanding
shares of the Company’s capital stock have been duly authorized and validly issued,
are fully paid and nonassessable, have been issued in compliance with all
applicable federal and state securities laws, and were not issued in violation
of or subject to any preemptive rights or other rights to subscribe for or
purchase securities.  No holder of Common
Stock is entitled to preemptive or similar rights.

2.7.          Legal Proceedings. 
Except as disclosed in the SEC Documents, there is no action, suit or
proceeding before any court, governmental agency or body, domestic or foreign,
now pending or, to the actual knowledge of the Company or any of its
Subsidiaries, threatened against the Company or its Subsidiaries wherein an
unfavorable decision, ruling or finding would reasonably be expected to
materially adversely affect the validity or enforceability of, or the authority
or ability of the Company to perform its obligations under this Agreement.

2.8.          No Violations. 
Neither the Company nor any of its Subsidiaries is in violation of its
Certificate of Incorporation or by-laws, or is in violation of any law,
administrative regulation, ordinance or order of any court or governmental
agency, arbitration panel or authority applicable to the Company or any of its
Subsidiaries, which violation, individually or in the aggregate, would be
reasonably likely to have a Material Adverse Effect, or is in default (and
there exists no condition which, with or without the passage of time or giving
of notice or both, would constitute a default) in any material respect in the
performance of any bond, debenture, note or any other evidence of indebtedness
in any indenture, mortgage, deed of trust or any other material agreement or
instrument to which the Company or any of its Subsidiaries is a party or by
which the Company or any of its Subsidiaries is bound or by which the
properties of the Company are bound, which would be reasonably likely to have a
Material Adverse Effect.

2.9.          Governmental Permits, Etc. The Company and its
Subsidiaries possess all necessary franchises, licenses, certificates and other
authorizations from any foreign, federal,

 

5

state or local government or
governmental agency, department or body that are currently necessary for the
operation of their respective business as currently conducted, except where
such failure to possess could not reasonably be expected to have a Material
Adverse Effect.

2.10.        Intellectual Property. The Company and its
Subsidiaries own or possess sufficient rights to use all patents, patent
rights, trademarks, copyrights, licenses, inventions, trade secrets, trade
names and know-how that are currently necessary for the conduct of their
respective businesses as now conducted (the “Company Intellectual
Property”), except where the failure to own or possess would
not have a Material Adverse Effect. 
Except as set forth in Schedule 2.10, (i) neither the Company nor
any of its Subsidiaries has received any written notice of, or has any actual
knowledge of, any infringement by the Company or its Subsidiaries of
intellectual property rights of any third party that, individually or in the
aggregate, would have a Material Adverse Effect and (ii) neither the Company
nor any of its Subsidiaries has received any written notice of any infringement
by a third party of any Company Intellectual Property that, individually or in
the aggregate, would have a Material Adverse Effect.

2.11.        Financial Statements. The consolidated financial
statements of the Company and its Subsidiaries and the related notes thereto
included in the SEC Documents present fairly, in all material respects, the
financial position of the Company as of the dates indicated and the results of
its operations and cash flows for the periods therein specified subject, in the
case of unaudited statements, to normal year-end audit adjustments.  Except as set forth in such financial
statements (or the notes thereto), such financial statements (including the
related notes) have been prepared in accordance with United States generally
accepted accounting principles applied on a consistent basis throughout the
periods therein specified.  The financial
statements referred to in this Section 2.11 contain all certifications
and statements required by Rule 13a-14 or 15d-14 under the Exchange Act, or 18
U.S.C. Section 1350 (Sections 302 and 906 of the Sarbanes-Oxley Act of 2002)
with respect to the report relating thereto. 
The formal investigation commenced by the Securities and Exchange
Commission (the “SEC”) pursuant to
its subpoena dated December 14, 2005 and publicly disclosed by the Company in
its Current Report on Form 8-K filed on December 14, 2005 (the “SEC Investigation”) remains ongoing.

2.12.        No Material Adverse Change.. Except as set
forth in Schedule 2.12 or as the Company may have publicly disclosed (and then
solely to the extent so disclosed) in the SEC Documents, press releases or in
other “public disclosures” as such term is defined in Section 101(e) of
Regulation FD of the Exchange Act, in each case, filed or made through and
including the date hereof, since October 1, 2005 there has not been (i) any
material adverse change in the business, assets, financial condition or results
of operation of the Company and its Subsidiaries, taken as whole or any
material adverse development in the SEC Investigation, (ii) any obligation,
direct or contingent, that is material to the Company and its Subsidiaries
taken as a whole, incurred by the Company or any of its Subsidiaries, except
obligations incurred in the ordinary course of business, (iii) any dividend or
distribution of any kind declared, paid or made on the capital stock of the
Company; or (iv) any loss or damage (whether or not insured) to the physical
property of the Company or any of its Subsidiaries which has been sustained
which has had a Material Adverse Effect.

2.13.        American Stock Exchange Listing. The Company’s Common
Stock is registered pursuant to Section 12(g) of the Exchange Act and is listed
on the American Stock Exchange

 

6

(“AMEX”), and the
Company has taken no action designed to, or likely to have the effect of,
terminating the registration of the Common Stock under the Exchange Act or
terminating the listing of the Common Stock from the AMEX, nor to the Company’s
knowledge is the AMEX currently contemplating terminating such listing.  The Company and the Common Stock meet the
criteria for continued listing on the AMEX.

2.14.        No Manipulation of Stock. The Company has not taken
and will not, in violation of applicable law, take, any action designed to or
that might reasonably be expected to cause or result in stabilization or
manipulation of the price of the Common Stock to facilitate the sale or resale
of the Shares.

2.15.        Insurance. The Company maintains and will continue to
maintain insurance against loss or damage by fire or other casualty and such
other insurance, including, but not limited to, product liability insurance, in
such amounts and covering such risks as is believed to be prudent and
customary, consistent with industry practice for the conduct of its and its Subsidiaries’
respective businesses and the value of their respective properties.

2.16.        Tax Matters. The Company and each of its Subsidiaries
has timely filed all material federal, state, local and foreign income and
franchise and other tax returns required to be filed by any jurisdiction to
which it is subject and has paid all taxes due in accordance therewith, except
where the failure to so timely file or pay would not be likely to result in a
Material Adverse Effect, and no tax deficiency has been determined adversely to
the Company or any of its Subsidiaries which has had, nor does the Company or
any of its Subsidiaries have any knowledge of any tax deficiency which, if
determined adversely to the Company or any of its Subsidiaries, would
reasonably be expected to have, a Material Adverse Effect.

2.17.        Investment Company. The Company is not an “investment
company” within the meaning of such term under the Investment Company Act of
1940 and the rules and regulations of the SEC thereunder.

2.18.        No Registration, Integration, etc. Assuming (i) the
accuracy of the representations and warranties made by, and compliance with the
covenants of, the Investor in Article 3 hereof and of all other Investors in
their respective Stock Purchase Agreements, and (ii) that the Placement Agents
(as defined in Section 3.9), have conducted all of their activities in
relation to the Offering in a manner permitted by all applicable Federal and
state securities or other applicable laws and in a manner consistent with the
Company’s ability to rely upon the exemption from registration provided by
Regulation D and Section 4(2) of the Securities Act, no registration of the
Shares under the Securities Act is required in connection with the offer and
sale of the Shares by the Company to the Investors as contemplated by this
Agreement.  The Company is currently
eligible to register the resale of Common Stock by the Investor pursuant to a
registration statement on Form S-3 under the Securities Act.

2.19.        Transactions With Affiliates and Employees. Except as
disclosed in the SEC Documents, none of the officers or directors of the
Company and, to the knowledge of the Company, none of the employees of the
Company is presently a party to any transaction with the Company or any
Subsidiary (other than for services as employees, officers and directors),
including any contract, agreement or other arrangement providing for the
furnishing of services

 

7

to or by, providing for
rental of real or personal property to or from, or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of the
Company, any entity in which any officer, director, or any such employee has a
substantial interest or is an officer, director, trustee or partner.

2.20.        Disclosure. The Company understands and confirms that
the Investor will rely on the foregoing representations and covenants in
effecting transactions in the securities of the Company.  All disclosure provided to the Investor regarding
the Company, its business and the transactions contemplated hereby furnished by
or on behalf of the Company are true and correct and do not contain any untrue
statement of a material fact or omit to state any material fact necessary in
order to make the statements made therein, in light of the circumstances under
which they were made, not misleading.

3.                                      REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE
INVESTOR.

The Investor represents, warrants and
covenants to the Company as follows:

 

3.1.          Securities Law Representations and Warranties.

(a)   The Investor (i) is an “accredited investor”
as defined in Regulation D under the Securities Act, (ii) has the knowledge,
sophistication and experience necessary to make, and is qualified to make
decisions with respect to, investments in securities presenting an investment
decision like that involved in the purchase of investments in securities issued
by the Company and investments in comparable companies, (iii) can bear the
economic risk of a total loss of its investment in the Shares and (iv) has
requested, received, reviewed and considered all information it deemed relevant
in making an informed decision to purchase the Shares;

(b)   The Investor is acquiring the Shares for its
own account for investment only and not with a view towards, or for resale in
connection with, the public sale or distribution thereof;

(c)   The Investor was not organized for the
specific purpose of acquiring the Shares;

(d)   The Investor will not, directly or
indirectly, offer, sell, pledge, transfer or otherwise dispose of (or solicit
any offers to buy, purchase or otherwise acquire or take a pledge of) any of
the Shares except in compliance with the Securities Act, applicable state
securities laws and the respective rules and regulations promulgated
thereunder;

(e)   The Investor understands that the Shares are
being offered and sold to it in reliance on specific exemptions from the
registration requirements of the United States federal and state securities
laws and that the Company is relying upon the truth and accuracy of, and the
Investor’s compliance with, representations, warranties, agreements,
acknowledgements and understandings of the Investor set forth herein in order
to determine the availability of such exemptions and the eligibility of the
Investor to acquire the Shares;

(f)    The Investor understands that no United
States federal or state agency or any other government or governmental agency
has passed on or made any recommendation or

 

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endorsement of the Shares or
the fairness or suitability of an investment in the Shares nor have such
authorities passed upon or endorsed the merits of the Offering; and

(g)   The Investor acknowledges that the Company
has represented that no action has been or will be taken in any jurisdiction
outside the United States by the Company that would permit an offering of the
Shares, or possession or distribution of offering materials in connection with
the issue of the Shares, in any jurisdiction outside the United States where
action for that purpose is required.  If
the Investor is located or domiciled outside the United States it agrees to
comply with all applicable laws and regulations in each foreign jurisdiction in
which it purchases, offers, sells or delivers Shares or has in its possession
or distributes any offering material, in all cases at its own expense.

(h)   The Investor has been furnished with all
materials relating to the business, financial condition, results of operations,
properties, management, operations and prospects of the Company and its
Subsidiaries, including matters referred to in the Restatement Disclosure and
materials relating to the terms and conditions of the offer and sale of the
Shares which have been requested by the Investor.  The Investor has been afforded the
opportunity to ask questions of the Company and has received answers from an
authorized representative of the Company which are satisfactory to the
Investor.  Notwithstanding the foregoing,
in entering into this Agreement, the Investor represents that it is relying
solely on the representations, warranties, covenants and agreements set forth
in this Agreement, which document supersedes and replaces any other written or
oral information communicated to the Investor. 
Investor acknowledges that the SEC Investigation remains ongoing.

(i)    The Investor has independently evaluated the
merits of its decision to purchase Shares pursuant to this agreement.

3.2.          Legends.

(a)   The Investor understands that, until the end
of the applicable holding period under Rule 144(k) of the Securities Act (or
any successor provision) with respect to the Shares, any stock certificate
representing the Shares shall bear a legend in substantially the following
form:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE
SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED,
ASSIGNED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
AN EXEMPTION THEREFROM.

The legend set forth above shall be removed
(i) if the Shares have been resold or transferred pursuant to the Registration
Statement contemplated by Section 5 and the Registration Statement was
effective at the time of such transfer, (ii) if, in connection with a sale transaction,
such

 

9

holder provides the Company with an opinion
of counsel reasonably acceptable to the Company to the effect that a public
sale, assignment or transfer of the Shares may be made without registration
under the Securities Act, or (iii) upon expiration of the applicable two-year
holding period under Rule 144(k) of the Securities Act (or any successor rule);
provided that the Investor is not and has not been within three months prior to
such date, an “affiliate” of the Company (as such term is defined in Rule 144
of the Securities Act).  The Company may
make a notation on its records and/or provide instruction to its transfer agent
regarding the Company’s stock transfer records, consistent with the provisions
of this Section 3.2.

 

(b)   The Investor understands that, in the event
Rule 144(k) as promulgated under the Securities Act (or any successor rule) is
amended to change the two-year period under Rule 144(k) (or the corresponding
period under any successor rule), (i) each reference in this Sections 3.2
of this Agreement to “two years” or the “two-year period” shall be deemed for
all purposes of this Agreement to be references to such changed period, and
(ii) all corresponding references in the Shares shall be deemed for all
purposes to be references to the changed period, provided that such changes
shall not become effective if they are otherwise prohibited by, or would
otherwise cause a violation of, the then-applicable federal securities laws.

3.3.          Authorization; Enforcement; Validity. The Investor
has full right, power, authority and capacity (corporate, statutory or
otherwise) to enter into this Agreement and to consummate the transactions
contemplated hereby and has taken all necessary action to authorize the
execution, delivery and performance of this Agreement. This Agreement
constitutes a valid and binding obligation of the Investor enforceable against
the Investor in accordance with its terms, except (i) to the extent rights to
indemnity and contribution may be limited by state or federal securities laws
or the public policy underlying such laws, (ii) enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, fraudulent conveyance,
moratorium or similar laws affecting creditors’ and contracting parties’ rights
generally and (iii) enforceability may be limited by general principles of
equity (regardless of whether such enforceability is considered in a proceeding
in equity or at law).

3.4.          Certain Trading Limitations.  The Investor (i) represents that on and from
the date the Investor first became aware of the Offering until the date hereof
he, she or it has not and (ii) covenants that for the period commencing on the
date hereof and ending on the public announcement of the Offering he, she or it
will not, engage in any hedging or other transaction which is designed to or
could reasonably be expected to lead to or result in, or be characterized as, a
sale, an offer to sell, a solicitation of offers to buy, disposition of, loan,
pledge or grant of any right with respect to (collectively, a “Disposition”) the Common
Stock of the Company by the Investor or any other person or entity in violation
of the Securities Act.  Such prohibited
hedging or other transactions would include without limitation effecting any
short sale or having in effect any short position (whether or not such sale or
position is against the box and regardless of when such position was entered
into) or any purchase, sale or grant of any right (including without limitation
any put or call option) with respect to the Common Stock of the Company or with
respect to any security (other than a broad-based market basket or index) that
includes, relates to or derives any significant part of its value from the
Common Stock of the Company.

3.5.          No Sale of Securities. The Investor hereby covenants
with the Company not to make any sale of the Shares without (i) complying with
the provisions of this Agreement,

 

10

including Section 5.3
hereof or (ii) satisfying the requirements of the Securities Act and the rules
and regulations promulgated thereunder, including, without limitation, causing
the prospectus delivery requirement under the Securities Act to be satisfied,
if applicable. The Investor acknowledges that there may occasionally be times
when the Company, based on the advice of its counsel, determines that, subject
to the limitations of Section 5.3, it must suspend the use of the
prospectus forming a part of the Registration Statement until such time as an
amendment to the Registration Statement has been filed by the Company and
declared effective by the SEC or until the Company has amended or supplemented
such prospectus.

3.6.          Registration Questionnaire. The
Investor has completed or caused to be completed the Registration Questionnaire
attached hereto as Exhibit C (or has otherwise provided
in a written form the information requested in such Registration Questionnaire)
and the signature page hereto, each for use in preparation of the Registration
Statement, and the information contained in such completed Registration
Questionnaire (or such other form provided by the Investor) and on such
signature page are true and correct in all material respects as of the date of
this Agreement and will be true and correct as of the effective date of the
Registration Statement; provided that the Investor shall be entitled to update
such information by providing written notice thereof to the Company prior to
the effective date of the Registration Statement.

3.7.          No Advice. The Investor understands that nothing in
this Agreement or any other materials presented to the Investor in connection
with the purchase and sale of the Shares constitutes legal, tax or investment
advice. The Investor has consulted such legal, tax and investment advisors as
it, in its sole discretion, has deemed necessary or appropriate in connection
with its purchase of the Shares.

3.8.          NASD Compliance. The Investor acknowledges that if
it is a Registered Representative (as defined by the NASD) of a National
Association of Securities Dealers (“NASD”) member firm, the Investor
must give such firm the notice required by the NASD’s Rules of Fair Practice,
receipt of which must be acknowledged by such firm on the signature page
hereof.

3.9.          Placement Agent Fees. The Investor acknowledges that
(i) the Company has engaged and authorized Jefferies & Company, Inc. and
UBS Securities LLC (Jefferies & Co. Inc. and UBS Securities LLC
collectively referred to herein as the “Placement Agents”) in connection
with the Offering and the transactions contemplated by this Agreement, (ii) the
Company shall pay the Placement Agents a commission and reimburse the Placement
Agents’ expenses and the Company shall indemnify and hold harmless the Investor
from and against all fees, commissions or other payments owing by the Company
to the Placement Agents or any other person or firm acting on behalf of the
Company hereunder and (iii) registered representatives of the Placement Agents
and/or their designees (including, without limitation, registered
representatives of the Placement Agents and/or their designees who may
participate in the Offering and sale of the securities sold in the Offering)
may be paid a portion of the commissions paid to the Placement Agents.

3.10.        Treatment of Non-Public Information. The Investor
agrees to hold the existence, terms and conditions of the Offering in
confidence and not to disclose the same to any other

 

11

person until such time as
the Company files with the SEC a Current Report on Form 8-K disclosing the
Offering or publicly announces the Offering.

3.11.        SEC Reports. 
The Investor has reviewed copies of the Company’s Annual Report on Form
10-K for the year ended December 31, 2004 (and any amendments thereto), the
Company’s Proxy Statement for its 2005 Annual Meeting of Shareholders, the
Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2005,
June 30, 2005 and September 30, 2005 (and any amendments thereto) and each of
the Company’s Current Reports on Form 8-K filed since January 1, 2003 (and any
amendments thereto).

4.                                      COVENANTS.

4.1.          Trading Market. The Company shall use commercially
reasonable efforts to comply with all requirements of the AMEX with respect to
the issuance and listing of the Shares and the continued listing of its Common
Stock (including the Shares).  The
Company agrees that if the Company applies to have its Common Stock traded on
any other trading market, it will use commercially reasonable efforts to cause
the Shares to be listed or quoted on such other trading market.

4.2.          Certain Future Financings and Related Actions.
Without the prior consent of the Investor, the Company shall not cause the
Offering to be integrated with prior offerings by the Company in a manner that
would require the registration under the Securities Act of the sale of the
Shares to the Investor or in a manner that would require stockholder approval
of the sale of the Shares to the Investor.

4.3.          Public Disclosure. The Company shall publicly
announce the Offering promptly after the execution of this Agreement and make
such other filings and notices in the manner and within the time required by
the SEC.

4.4.          Use of Proceeds. 
The Company will use the net proceeds from the sale of the Shares
pursuant to this Agreement for general corporate purposes and/or acquisitions.

4.5.          Prospectus Delivery Requirements.  Investor covenants and agrees that it will
comply with the prospectus delivery requirements of the Securities Act as
applicable to it in connection with the sales of Registrable Securities, as
defined in Section 5.1.

5.                                      REGISTRATION
OF SHARES AND COMPLIANCE WITH THE SECURITIES ACT.

5.1.          Registration
Procedures and Expenses. The Company shall:

(a)   subject to receipt of necessary information
from the Investors, including the information requested in the Registration
Statement Questionnaire, use its commercially reasonable efforts to prepare and
file with the SEC on or prior to the 30th calendar day following the
Closing Date hereof a registration statement (the “Registration Statement”) on Form S-3
(or such other form as may be required) to enable the resale by the Investor on
a delayed or continuous basis under Rule 415 of the Securities Act of the
shares of Common Stock issued pursuant to this Agreement and any shares of
Common Stock issued or issuable in respect of the

 

12

Shares by virtue of any
stock split, stock dividend, recapitalization or similar event; provided,
however, that if, during the period from the date hereof through
the 30th calendar day following the Closing Date, the acquisition of
a business by the Company is consummated or becomes probable with respect to
which the Company shall be required to file with the SEC a Current Report on
Form 8-K (or an amendment to a Current Report on Form 8-K) containing
audited and unaudited historical financial statements of the acquired business
and pro forma financial information for the Company giving effect to the
acquisition, the Company shall not be required to file the Registration
Statement until the second business day following the date by which such historical
financial statements and pro forma financial information shall be required to
be filed;

(b)   use commercially reasonable efforts, subject
to receipt of necessary information from the Investor, including the
information requested in the Registration Statement Questionnaire, to cause the
Registration Statement to become effective within 120 calendar days after the
Closing Date;

(c)   as expeditiously as practicable, prepare and
file with the SEC such amendments and supplements to the Registration Statement
and the Prospectus (as defined in Section 5.4 below) used in connection
therewith and take all such other actions as may be necessary to keep the
Registration Statement current and effective for a period (the “Registration Period”) not
exceeding, with respect to the Registrable Securities, the earlier of (i) the
date on which all Registrable Securities then held by the Investor may be sold
or transferred in compliance with Rule 144 under the Securities Act (or any
other similar provisions then in force) without any volume or manner of sale
restrictions thereunder, or (ii) such time as all Registrable Securities held
by the Investor have been sold (A) pursuant to a registration statement, (B) to
or through a broker or dealer or underwriter in a public distribution or a
public securities transaction, or (C) in a transaction exempt from the
registration and prospectus delivery requirements of the Securities Act under
Section 4(1) thereof so that all transfer restrictions and restrictive legends
with respect thereto, if any, are removed upon the consummation of such sale;

(d)   promptly furnish to the Investor with respect
to the Registrable Securities registered under the Registration Statement such
reasonable number of copies of the Prospectus as the Investor may request,
including any supplements to or amendments to the Prospectus, in order to
facilitate the public sale or other disposition of all or any of the
Registrable Securities by the Investor;

(e)   promptly take such action as may be necessary
to qualify, or obtain, an exemption for the Registrable Securities under such
of the state securities laws of United States jurisdictions as shall be
necessary to qualify, or obtain an exemption for, the sale of the Registrable
Securities in states specified in writing by the Investor; provided, however,
that the Company shall not be required to qualify to do business or
consent to service of process in any jurisdiction in which it is not now so
qualified or has not so consented, subject itself to general taxation in any such
jurisdiction or provide any undertakings that cause the Company undue expense
or burden;

(f)    bear all expenses in connection with the
procedures in paragraphs (a) through (e) and (g) of this Section 5.1
and the registration of the Registrable Securities pursuant to the

 

13

Registration Statement,
regardless of whether a Registration Statement becomes effective, including
without limitation: (i) all registration and filing fees and expenses
(including filings made with AMEX); (ii) fees and expenses of compliance with
federal securities and state “blue sky” or securities laws; (iii) expenses of
printing (including printing certificates for the Registrable Securities and
Prospectuses); (iv) all application and filing fees, if any, in connection with
listing of the Registrable Securities with AMEX; (v) all fees and disbursements
of counsel of the Company and independent certified public accountants of the
Company; and (vi) up to $5,000 in fees and disbursements of one counsel
representing all investors in the Offering; provided, however, that
the Investor shall be responsible for paying the underwriting commissions or
brokerage fees, and taxes of any kind (including, without limitation, transfer
taxes) applicable to any disposition, sale or transfer of the Investor’s
Registrable Securities. The Company shall, in any event, bear its internal
expenses (including, without limitation, all salaries and expenses of its
officers and employees performing legal or accounting duties);

(g)   advise the Investor promptly, but in any
event within two business days by e-mail, fax or other type of communication,
and, if requested by such person, confirm such advice in writing: (i) after it
shall receive notice or obtain knowledge of the issuance of any stop order by
the SEC delaying or suspending the effectiveness of the Registration Statement
or of the initiation or threat of any proceeding for that purpose, or any other
order issued by any state securities commission or other regulatory authority
suspending the qualification or exemption from qualification of such
Registrable Securities under state securities or “blue sky” laws; and it will
promptly use its commercially reasonable efforts to prevent the issuance of any
stop order or other order or to obtain its withdrawal at the earliest possible
moment if such stop order or other order should be issued; (ii) when the
Prospectus or any supplements to or amendments of the Prospectus have been
filed, and, with respect to the Registration Statement or any post-effective
amendment thereto, when the same has become effective; and (iii) when the SEC
notifies the Company whether there will be a “review” of such Registration
Statement and whenever the SEC comments in writing on such Registration
Statement (the Company shall provide true and complete copies thereof and all
written responses thereto to the Investor that pertain to the Investor as a
Selling Stockholder or to the Plan of Distribution, but not information which
the Company believes would constitute material and non-public information);

(h)   except if otherwise required pursuant to
written comments received from the SEC upon a review of such Registration
Statement, include in the Registration Statement the “Plan of Distribution” attached hereto as Exhibit D;

(i)    unless otherwise agreed to by holders of a
majority of the Registrable Securities held by the Investor and all Other
Investors, neither the Company nor any of its securities holders may include
securities of the Company (other than the Shares) in any Registration Statement
filed pursuant to this Agreement and the Company shall not after the date
hereof enter into any agreement in contravention of the foregoing;

(j)    if at any time during the Registration
Period, there is not one or more effective Registration Statements covering the
resale of all Registrable Securities and the Company shall determine to prepare
and file with the SEC a registration statement relating to an offering for its
own account or the account of others under the Securities Act of any of its
equity securities, other than of Form S-4 or Form S-8 (each as promulgated
under the Securities Act) or their then

 

14

equivalents relating to
equity securities to be issued solely in connection with any acquisition of any
entity or business or equity securities issuable in connection with stock
option or other employee benefit plans, then the Company shall send to the
Investor written notice of such determination and if, within 20 days after
receipt of such notice the Investor shall so request in writing, the Company
shall include in such registration statement those Registrable Securities
requested by the Investor to be so included and which are not otherwise covered
by one or more effective Registration Statements;

(k)   not less than three business days prior to
the filing of the Registration Statement or any related Prospectus or any
amendment or supplement thereto, the Company shall furnish to the Investor
copies of the “Selling Stockholders” section of such document, the “Plan of
Distribution,” any risk factor contained in such document that addresses
specifically this transaction or the Selling Stockholders, as proposed to be
filed, which documents will be subject to the review and comment of the
Investor and its counsel; provided that, the failure of any Investor or
his, her or its counsel to respond to such proposed documents within two
business days after receipt thereof shall be deemed approval of same; and provided,
further, that no such review and comment shall inhibit the
Company from filing the Registration Statement within 15 days after the
Restatement Date or otherwise from complying with its obligations hereunder;

(l)    respond as promptly as practicable to any
comments received from the SEC with respect to each Registration Statement or
any amendment thereto and, as promptly as practicable provide the Investor true
and complete copies of all correspondence from and to the SEC relating to such
Registration Statement that would not result in the disclosure to the Investor
of material and non-public information concerning the Company;

(m)  comply in all material respects with the
provisions of the Securities Act, the Exchange Act and all rules of the SEC
promulgated thereunder with respect to the Registration Statements and the
disposition of all Registrable Securities covered by each Registration
Statement;

(n)   Take all other steps necessary to effect the
registration of the Registrable Securities; and

(o)   cooperate with the Investor to facilitate the
timely preparation and delivery of certificates representing Registrable
Securities to be delivered to a transferee pursuant to the Registration
Statements, which certificates shall be free of all restrictive legends, and to
enable such Registrable Securities to be in such denominations and registered
in such names as the Investor may request; provided, that, the delivery of such
certificates shall be subject to the payment by the Investor of any transfer
taxes, if applicable.

5.2.          Delay in Effectiveness of Registration Statement. In
the event the Registration Statement is not declared effective by the SEC
within 120 calendar days after the Closing Date  in accordance with Section 5.1(b), the
Company shall pay in cash to the Investor liquidated damages in the amount of
1.0% of the Aggregate Purchase Price per month thereafter (pro rata for any
portion thereof) until the earlier of (i) the date on which the Registration
Statement is first declared effective by the SEC or (ii) the second anniversary
of the Closing Date, any such payments to be made monthly in arrears.

 

15

5.3.          Transfer of
Shares; Suspension.

(a)   The Investor agrees that it will not effect
any Disposition of the Registrable Securities or its right to purchase the
Registrable Securities that would constitute a sale within the meaning of the
Securities Act, except as contemplated in the Registration Statement referred
to in Section 5.1 or in accordance with the Securities Act, and that it
will promptly notify the Company of any changes in the information set forth in
the Registration Statement or the Registration Statement Questionnaire
regarding the Investor or its plan of distribution.  The Company shall not
be required to include any Shares held by the Investor in the Registration
Statement if the Investor fails to complete, or update as needed, the
Registration Statement Questionnaire or provide the information requested in
such Registration Statement Questionnaire in accordance with this Section 5.3.

(b)   Except in the event that paragraph (c)
below applies, the Company shall use commercially reasonable efforts to, at all
times during the Registration Period, promptly (i) prepare and file from time
to time with the SEC a post-effective amendment to the Registration Statement
or a supplement to the related Prospectus or a supplement or amendment to any
document incorporated therein by reference or file any other required document
so that such Registration Statement will not contain an untrue statement of a
material fact or omit to state a material fact necessary to make the statements
therein not misleading, and so that, as thereafter delivered to purchasers of
the Registrable Securities being sold thereunder, such Prospectus will not
contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading;
(ii) provide the Investor copies of any documents filed pursuant to Section
5.3(b)(i); and (iii)inform the Investor that the Company has complied with
its obligations in Section 5.3(b)(i) (or that, if the Company has filed
a post-effective amendment to the Registration Statement which has not yet been
declared effective, the Company will notify the Investor to that effect, will
use its commercially reasonable efforts to secure the effectiveness of such
post-effective amendment as promptly as possible and will promptly notify the
Investor pursuant to Section 5.3(b)(iii) hereof when the amendment has
become effective).

(c)   Subject to paragraph (d) below, in the event
of (i) any request by the SEC or any other federal or state governmental
authority during the period of effectiveness of the Registration Statement for
amendments or supplements to a Registration Statement or related Prospectus or
for additional information; (ii) the issuance by the SEC or any other federal
or state governmental authority of any stop order suspending the effectiveness
of a Registration Statement or the initiation of any proceedings for that
purpose; (iii) the receipt by the Company of any notification with respect to
the suspension of the qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose; or (iv) any event or
circumstance which necessitates the making of any changes in the Registration
Statement or Prospectus, or any document incorporated or deemed to be
incorporated therein by reference, so that, in the case of the Registration
Statement, it will not contain any untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the
statements therein not misleading, and that in the case of the Prospectus, it
will not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, then the Company
shall

 

16

deliver a notice in writing
to the Investor (the “Suspension Notice”) to the effect of the
foregoing and, upon receipt of such Suspension Notice, the Investor will
refrain from selling any Registrable Securities pursuant to the Registration
Statement (a “Suspension”) until the Investor’s
receipt of copies of a supplemented or amended Prospectus prepared and filed by
the Company, or until it is advised in writing by the Company that the current
Prospectus may be used. In the event of any Suspension, the Company will use
its commercially reasonable efforts, consistent with the best interests of the
Company and its stockholders, to cause the use of the Prospectus so suspended
to be resumed as soon as reasonably practicable after the delivery of a
Suspension Notice to the Investor.  In
the event one or more Suspensions having an aggregate duration in excess of 90
days occur during any 12-month period (an “Event”),
the Company shall pay in cash to the Investor liquidated damages in the amount
of 1.0% of the Aggregate Purchase Price per month thereafter (pro rata for any
portion thereof) until the earlier of (i) the first date after such Event on
which the Investor either receives copies of a supplemented or amended
Prospectus prepared and filed by the Company or is advised in writing by the
Company that the current Prospectus may be used, or (ii) the second anniversary
of the Closing Date, any such payments to be made monthly in arrears.

5.4.          Indemnification. For the purpose of this Section 5.4,
the term “Registration Statement” shall include any
preliminary or final prospectus, exhibit, supplement or amendment included in
or relating to the Registration Statement referred to in Section 5.1 and
the term “Rules and Regulations” means the rules and
regulations promulgated under the Securities Act.

(a)   Indemnification by the Company. The
Company agrees to indemnify, defend and hold harmless the Investor, its
officers, directors, agents, investment advisors, partners, members, managers,
stockholders, trustees and employees, and each person, if any, who controls the
Investor (or any of such other persons) within the meaning of the Securities
Act, against any losses, claims, damages, liabilities, costs or expenses to
which the Investor or other person may become subject (including, without
limitation, reasonable legal and other costs and expenses of preparing,
investigating, defending, settling, compromising or paying such losses, claims,
damages, liabilities, costs or expenses) (collectively, “Losses”), as incurred,
under the Securities Act, the Exchange Act, or any other federal or state
statutory law or regulation insofar as such losses arise out of or are based
upon (i) any untrue statement or alleged untrue statement of any material fact
contained in the Registration Statement, including the Prospectus, financial
statements and schedules, and all other documents filed as a part thereof, as
amended at the time of effectiveness of the Registration Statement, including
any information deemed to be a part thereof as of the time of effectiveness
pursuant to paragraph (b) of Rule 430A, or pursuant to Rule 434 of the Rules
and Regulations, or the Prospectus, in the form first filed with the Commission
pursuant to Rule 424(b) of the Regulations, or filed as part of the
Registration Statement at the time of effectiveness if no Rule 424(b) filing is
required (the “Prospectus”), or any amendment or
supplement thereto, (ii) the omission or alleged omission to state in any of
them a material fact required to be stated therein or necessary to make the
statements in any of them, in light of the circumstances under which they were
made, not misleading, (iii) any inaccuracy in the representations and
warranties of the Company contained in this Agreement, or any failure of the
Company to perform its obligations under this Agreement, or (iv) any violation
or alleged violation by the Company of the Securities Act, the Securities
Exchange Act of 1934, as amended, state (“blue sky”) securities laws or any
rule or regulation promulgated thereunder; provided, however, that
the Company will not be liable in any such case to the extent that any

 

17

 

such Loss arises out of or
is based upon (i) an untrue statement or alleged untrue statement or omission
or alleged omission made in the Registration Statement, the Prospectus or any
amendment or supplement of the Registration Statement or Prospectus in reliance
upon and in conformity with written information furnished to the Company by or
on behalf of the Investor expressly for use in the Registration Statement or
the Prospectus, or to the extent that such information relates to such Investor
or such Investor’s proposed method of distribution, or (ii) the failure of the
Investor to comply with the covenants and agreements contained in Sections 3.5
or 5.3 of this Agreement respecting resale of Registrable Securities, or
(iii) the inaccuracy of any representations made by the Investor in this
Agreement or (iv) any untrue statement or omission of a material fact in any
Prospectus that is corrected in any subsequent Prospectus that was delivered to
the Investor before the pertinent sale or sales by the Investor.

(b)   Indemnification by the Investor. The
Investor will indemnify, defend and hold harmless the Company, each of its
directors, each of its officers who sign the Registration Statement and each
person, if any, who controls the Company within the meaning of the Securities
Act, against any Losses to which the Company, each of its directors, each of
its officers who sign the Registration Statement or such controlling person may
become subject, as incurred, under the Securities Act, the Exchange Act, or any
other federal or state statutory law or regulation insofar as such Losses arise
out of or are based upon (i) any failure on the part of the Investor to comply
with the covenants and agreements contained in Sections 3.5 or 5.3 of
this Agreement respecting the sale of the Registrable Securities or (ii) the
inaccuracy of any representation or warranty made by the Investor in this
Agreement or (iii) any untrue statement of any material fact contained in the
Registration Statement, the Prospectus, or any amendment or supplement to the
Registration Statement or Prospectus, or the omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, in each case to the extent, but only to the extent,
that such untrue statement or omission was made in the Registration Statement,
the Prospectus, or any amendment or supplement thereto, in reliance upon and in
conformity with written information furnished to the Company by or on behalf of
the Investor expressly for use therein; provided, however, that
the Investor shall not be liable for any such untrue statement or omission of
which the Investor has delivered to the Company in writing a correction at
least two business days before the occurrence of the transaction from which
such loss was incurred.  Notwithstanding
the provisions of this Section 5.4, the Investor shall not be liable for
any indemnification obligation under this Agreement in excess of the amount of
net proceeds received by the Investor from the sale of the Registrable
Securities, unless such obligation has resulted from the gross negligence or
willful misconduct of the Investor.

5.5.          Indemnification Procedure.

(a)   Promptly after receipt by an indemnified
party under this Section 5.5 of notice of the threat or commencement of
any action, such indemnified party will, if a claim in respect thereof is to be
made against an indemnifying party under this Section 5.5, promptly
notify the indemnifying party in writing of the claim; but the omission so to
notify the indemnifying party will not relieve it from any liability which it
may have to any indemnified party for contribution or otherwise under the
obligations to indemnify contained in Section 5.4 to the extent it is
not materially prejudiced as a result of such failure.

 

18

(b)   In case any such action is brought against
any indemnified party and such indemnified party seeks or intends to seek
indemnity from an indemnifying party, the indemnifying party will be entitled
to participate in, and, to the extent that it may wish, jointly with all other
indemnifying parties similarly notified, to assume the defense thereof; provided,
however, if the defendants in any such action include both the indemnified
party and the indemnifying party and the indemnified party shall have
reasonably concluded that there is a conflict between the positions of the
indemnifying party and the indemnified party in conducting the defense of any
such action the indemnified party or parties shall have the right to select
separate counsel to assume such legal defenses and to otherwise participate in
the defense of such action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified party of its
election to assume the defense of such action, the indemnifying party will not
be liable to such indemnified party under this Section 5.5 for any legal
or other expenses subsequently incurred by such indemnified party in connection
with the defense thereof unless:

(i)                                     the indemnified
party shall have employed such counsel in connection with the assumption of
legal defenses in accordance with the proviso to the preceding sentence in Section
5.5(b) above (it being understood, however, that the indemnifying party
shall not be liable for the expenses of more than one separate counsel in each
jurisdiction where counsel is reasonably necessary, approved by such
indemnifying party (such approval not to be unreasonably withheld) representing
all of the indemnified parties who are parties to such action), or

(ii)                                  the
indemnifying party shall not have counsel reasonably satisfactory to the
indemnified party to represent the indemnified party within a reasonable time
after notice of commencement of action, in each of which cases the reasonable
fees and expenses of counsel shall be at the expense of the indemnifying party.

(c)   Settlement.  The indemnifying party shall
not be liable for any settlement of any action, claim, suit, investigation, inquiry or proceeding (including, without limitation, any shareholder or
derivative action or arbitration proceeding, whether commenced or
threatened (collectively, a “Proceeding”)
effected without its written consent, which consent shall not be unreasonably
withheld.  No indemnifying party shall,
without the prior written consent of the indemnified party, effect any
settlement of any pending Proceeding in respect of which any indemnified party
is a party, unless such settlement includes an unconditional release of such
indemnified party from all liability on claims that are the subject matter of
such Proceeding.

(d)   Contribution. If a claim for
indemnification under this Section 5.5 is unavailable to an indemnified
party (by reason of public policy or otherwise), then each indemnifying party,
in lieu of indemnifying such indemnified party, shall contribute to the amount
paid or payable by such indemnified party as a result of any losses, claims,
damages, liabilities or expenses referred to in this Agreement, in such
proportion as is appropriate to reflect the relative fault of the indemnifying
party and indemnified party in connection with the actions, statements or
omissions that resulted in such losses, claims, damages, liabilities or
expenses as

 

19

 

well as any other relevant
equitable considerations. The relative fault of such indemnifying party and
indemnified party shall be determined by reference to, among other things,
whether any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission of a material
fact, has been taken or made by, or relates to information supplied by, such
indemnifying party or indemnified party, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such
action, statement or omission. The amount paid or payable by a party as a
result of any losses, claims, damages, liabilities or expenses shall be deemed
to include, subject to the limitations set forth in this Section 5.5,
any reasonable attorneys’ or other reasonable fees or expenses incurred by such
party in connection with any proceeding to the extent such party would have
been indemnified for such fees or expenses if the indemnification provided for
in this Section was available to such party in accordance with its terms.

(e)   The parties hereto agree that it would not be
just and equitable if contribution pursuant to this Section 5.5 were
determined by pro rata allocation or by any other method of allocation that
does not take into account the equitable considerations referred to in the
immediately preceding paragraph. Notwithstanding the provisions of this Section
5.5, no Investor shall be required to contribute, in the aggregate, any
amount in excess of the amount by which the net proceeds from the sale of
Registrable Securities by the Investor exceeds the amount of any damages that
the Investor has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No party to this
Agreement guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any other
party to this Agreement who was not guilty of such fraudulent
misrepresentation.

5.6.          Termination of Conditions and Obligations. The
restrictions imposed by Article 3 or Article 5 upon the
transferability of the Registrable Securities shall cease and terminate as to
any particular number of the Registrable Securities upon the termination of the
Registration Period with respect to such Registrable Securities.

5.7.          Rule 144. At all times during which there are
Registrable Securities outstanding which have not been previously (a) sold to
or through a broker or dealer or underwriter in a public distribution, or (b)
sold in a transaction exempt from the registration and prospectus delivery
requirements of the Securities Act under Section 4(l) thereof, in the case of
either clause (a) or clause (b) in such a manner that, upon the
consummation of such sale, all transfer restrictions and restrictive legends
with respect to such shares are removed upon the consummation of such sale, the
Company shall use commercially reasonable efforts to:

(a)   comply with the requirements of Rule 144(c)
under the Securities Act with respect to current public information about the
Company;

(b)   file with the SEC in a timely manner all
reports and other documents required of the Company under the Securities Act
and the Exchange Act (at any time it is subject to such reporting
requirements); and

(c)   furnish to any holder of Registrable
Securities promptly after receipt of a written request therefor (i) a written
statement by the Company as to its compliance with the

 

20

requirements of said Rule
144(c), and the reporting requirements of the Securities Act and the Exchange
Act, (ii) a copy of the most recent annual or quarterly report of the Company,
and (iii) such other reports and documents of the Company as such holder may
reasonably request to avail itself of any similar rule or regulation of the SEC
allowing it to sell any such securities without registration.

5.8.          Registration of Other Securities. Notwithstanding
anything contained herein to the contrary and for the avoidance of doubt, the
parties hereto acknowledge that (a) the Company has granted registration rights
to Other Investors with respect to Registrable Securities, and (b) any
Registration Statement prepared, filed and made effective under this Article
5 may also cover the resale of such other securities.

6.                                      MISCELLANEOUS.

6.1.          Notices. Except as specifically permitted by Section
5.1(g), all notices, requests, consents and other communications hereunder
shall be in writing, shall be mailed (b) if within the United States by
first-class registered or certified airmail, or nationally recognized overnight
express courier, postage prepaid, or by facsimile, or (b) if delivered from
outside the United States, by International Federal Express or facsimile, and
shall be deemed given (i) if delivered by first-class registered or certified
mail domestic, three business days after so mailed, (ii) if delivered by
nationally recognized overnight carrier, one business day after so mailed,
(iii) if delivered by International Federal Express, two business days after so
mailed, and (iv) if delivered by facsimile, upon electric confirmation of
receipt if sent during the normal business hours of the recipient and, if not,
on the next business day, and shall be delivered as addressed as follows:

if to the Company, to:

 

Jay McNamara, Esq.

Inverness Medical
Innovations, Inc.

51 Sawyer Road

Suite 200

Waltham, Massachusetts

Tel: 781.647.3900

Fax: 781.647.3939

Email:
jay.mcnamara@usa.invernessmedical.com

 

with a copy to:

 

John D. Patterson Jr., Esq.

Foley Hoag LLP

World Trade Center West

155 Seaport Boulevard

Boston, Massachusetts 02210

Tel: 617.832.1000

Fax: 617.832.7000

Email: jdp@foleyhoag.com

 

21

if to the Investor, at its address on the
signature page hereto, or at such other address or addresses as may have been
furnished to the Company in writing.

 

6.2.          Changes.  This
Agreement may not be modified or amended except pursuant to an instrument in
writing signed by the Company and the Investor.

6.3.          Headings.  The
headings of the various sections of this Agreement have been inserted for
convenience of reference only and shall not be deemed to be part of this
Agreement.

6.4.          Severability. 
In case any provision contained in this Agreement should be invalid,
illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions contained herein shall not in any
way be affected or impaired thereby.

6.5.          Survival of Representations, Warranties and Agreements.  Notwithstanding any investigation made by any
party to this Agreement, all covenants, agreements, representations and
warranties made by the Company and the Investor herein shall survive the
execution of this Agreement, the delivery to the Investor of the Shares being
purchased and the payment therefor unless otherwise stated herein.

6.6.          Governing Law. 
This Agreement shall be governed by, and construed in accordance with,
the internal laws of the State of New York, without giving effect to the
principles of conflicts of law.

6.7.          Entire Agreement. 
This Agreement and the documents referenced herein constitute the entire
agreement among the parties hereto with respect to the subject matter hereof
and thereof. There are no restrictions, promises, warranties or undertakings,
other than those set forth or referred to herein. This Agreement supersedes all
prior agreements and understandings among the parties.

6.8.          Finders Fees. 
Neither the Company nor the Investor nor any affiliate thereof has
incurred any obligation which will result in the obligation of the other party
to pay any finder’s fee or commission in connection with this transaction,
except for fees payable by the Company to the Placement Agent.

6.9.          Counterparts. 
This Agreement may be executed in two or more counterparts, each of
which shall constitute an original, but all of which, when taken together,
shall constitute but one instrument, and shall become effective when one or
more counterparts have been signed by each party hereto and delivered to the
other party. Facsimile signatures shall be deemed originals for all purposes
hereunder.

6.10.        Successors and Assigns.  This Agreement shall inure to the benefit of
and be binding upon the successors, heirs, executors and administrators and
permitted assigns of the parties hereto. With respect to transfers that are not
made pursuant to the Registration Statement (or Rule 144 but are otherwise made
in accordance with all applicable laws and the terms of this Agreement), the
rights and obligations of the Investor under this Agreement shall be
automatically assigned by the Investor to any transferee of all or any portion
of the Investor’s Shares who is a Permitted Transferee (as defined below); provided,
however, that within two

 

22

 

business days prior to the
transfer, (i) the Company is provided written notice of the transfer including
the name and address of the transferee and the number of Shares as applicable
to be transferred; and (ii) that such transferee agrees in writing to be bound
by the terms of this Agreement as if such transferee were the Investor. (For
purposes of this Agreement, a “Permitted Transferee” shall mean any
Person who (a) is an “accredited investor,” as that term is defined in Rule
501(a) of Regulation D under the Securities Act, (b) receives the Shares in a
transaction which is in compliance with the Federal and applicable state
securities law. Upon any transfer permitted by this Section 6.10, the
Company shall be obligated to such transferee to perform all of its covenants
under this Agreement as if such transferee was the Investor.

6.11.        Expenses.  The
Company and the Investor shall bear its or his own expenses in connection with
the preparation and negotiation of the Agreement.

6.12.        Third Party Rights. 
Except as explicitly set forth in this Agreement, nothing in this
Agreement shall create or be deemed to create any rights in any person or
entity not a party to this Agreement. 
Notwithstanding the foregoing, the Placement Agents shall be deemed to
be third-party beneficiaries of the representations, warranties and covenants
made by the Investor herein.

6.13.        No Waiver.  It
is agreed that a waiver by either party of a breach of any provision of this
Agreement shall not operate, or be construed, as a waiver of any subsequent
breach by that same party.

6.14.        Further Assurances. 
The parties agree to execute and deliver all such further documents,
agreements and instruments and take such other and further action as may be
necessary or appropriate to carry out the purposes and intent of this
Agreement.

6.15.        Independent Nature of Investors’ Obligations and Rights.  The obligations of each of the Investor and
the Other Investors that is participating in the Offering are several and not
joint.  The decision of each of the
Investor and the Other Investors to purchase Shares pursuant to this Agreement
has been made by such Investor independently of any Other Investor.  Nothing contained herein and no action taken
by Investor shall be deemed to constitute the Investor and the Other Investors
as a partnership, an association, a joint venture or any other kind of entity,
or create a presumption that the Investor and the Other Investors are in any way
acting in concert or as a group with respect to such obligations or the
transactions contemplated by this Agreement. 
Investor acknowledges that no Other Investor has acted as agent for such
Investor in connection with making its investment hereunder and that no Other
Investor will be acting as agent of such Investor in connection with monitoring
its investment in the Shares or enforcing its rights under this Agreement.  Investor shall be entitled to independently
protect and enforce its rights, including without limitation the rights arising
out of this Agreement and it shall not be necessary for any Other Investor to
be joined as an additional party in any proceeding for such purpose.  The Company acknowledges that each of the
Investor and the Other Investors has been provided with the agreement for the
purpose of closing a transaction with multiple investors and not because it was
required or requested to do so by the Investor or the Other Investors.

6.16.        Limitation on Liability.  A copy of the Agreement and Declaration of
Trust of the Investor is on file with the Secretary of the Commonwealth of
Massachusetts and notice is

 

23

hereby given that this
Agreement is executed on behalf of the Trustees of the Investor as Trustees and
not individually and that the obligations of this Agreement are not binding
upon any of the Trustees, officers or stockholders of the Investor individually
but are binding only upon the assets and property of the Investor.  The Company is expressly put on notice that
the rights and obligations of each series of shares of the Investor under its
Declaration of Trust are separate and distinct from those of any and all other
series.

6.17         Publicity.  The Company agrees that it will not
use in advertising or publicity the names of the Investor, Fidelity Management
& Research Company, any of its partners or employees, any of the funds or
accounts managed by it or any of its affiliates, or any trade name, trademark,
trade device, service mark, symbol or any abbreviation, contraction or
simulation thereof (collectively, the “Fidelity
Investor Name”), in any case without the prior written consent of
Fidelity Management & Research Company Investor; provided,
however, that the Company shall be permitted to use the Fidelity
Investor Name in the press release and/or other public disclosure contemplated
in Section 4.3.

 

[SIGNATURE
PAGES FOLLOW]

 

 

 

24

COMPANY
SIGNATURE PAGE TO STOCK PURCHASE AGREEMENT

 

 

                IN
WITNESS WHEREOF, the parties have caused this Stock Purchase Agreement to be
duly executed as of the date first written above.

 

 

 

	
   

  	
  INVERNESS MEDICAL
  INNOVATIONS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Amount of Subscription

  
	
   

  	
  Accepted

  	
  $

  
				

 

 

 

INVESTOR
SIGNATURE PAGE TO STOCK PURCHASE AGREEMENT

 

 

 

 

	
   

  	
  * SEE SCHEDULE OF
  INVESTORS BELOW

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  (print full legal name of
  Investor)

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
   

  	 

	
   

  	
  (signature of authorized
  representative)

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  Name:

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  Its:

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Telephone:

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Email:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Tax I.D. or SSN:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address where Shares
  should be sent (if different from above):

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NUMBER OF SHARES
  SUBSCRIBED FOR:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  AGGREGATE PURCHASE PRICE:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
																

 

 

 

INVESTOR
SIGNATURE PAGE TO STOCK PURCHASE AGREEMENT (CONT.)

 

 

 

If Investor is a Registered
Representative with an NASD member firm, have the following acknowledgment
signed by the appropriate party:

 

The undersigned NASD member firm acknowledges
receipt of the notice required by Rule 3040 of the NASD Conduct Rules.

 

 

	
   

  	
   

  
	
  Name of NASD Member

  
	
   

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  
	
  Title:

  
			

 

 

Schedule
of Investors

 

 

	
  Investor

  	
   

  	
  Number of Shares

  of Common Stock

  	
   

  	
  Aggregate Purchase Price in US $

  	
   

  
	
  AG MM, LP

  	
   

  	
  13,600

  	
   

  	
  331,976

  	
   

  
	
  PHS Bay Colony Fund, LP

  	
   

  	
  10,300

  	
   

  	
  251,423

  	
   

  
	
  GAM Arbitrage Investments,
  Inc.

  	
   

  	
  74,300

  	
   

  	
  1,813,663

  	
   

  
	
  AG Super Fund
  International Partners, LP

  	
   

  	
  52,700

  	
   

  	
  1,286,407

  	
   

  
	
  Nutmeg Partners, LP

  	
   

  	
  32,700

  	
   

  	
  798,207

  	
   

  
	
  PHS Patriot Fund, LP

  	
   

  	
  5,100

  	
   

  	
  124,491

  	
   

  
	
  AG Princess, LP

  	
   

  	
  10,300

  	
   

  	
  251,423

  	
   

  
	
  AG Super Fund, LP

  	
   

  	
  217,900

  	
   

  	
  5,318,939

  	
   

  
	
  AG CNG Fund, LP

  	
   

  	
  23,400

  	
   

  	
  571,194

  	
   

  
	
  Commonfund Event-Driven
  Company

  	
   

  	
  9,700

  	
   

  	
  236,777

  	
   

  
	
  Fidelity Select
  Portfolios: Parmaceutical Portfolio

  	
   

  	
  2,497

  	
   

  	
  60,951.77

  	
   

  
	
  Fidelity Select
  Portfolios: Health Care Portfolio

  	
   

  	
  42,205

  	
   

  	
  1,030,224.05

  	
   

  
	
  Fidelity Advisor Series
  VII: Fidelity Advisor Health Care Fund

  	
   

  	
  14,543

  	
   

  	
  354,994.63

  	
   

  
	
  Variable Insurance Products
  Fund IV: Healthcare Portfolio

  	
   

  	
  2,231

  	
   

  	
  54,458.71

  	
   

  
	
  Fidelity Select
  Portfolios: Medical Equipment and Systems Portfolio

  	
   

  	
  20,683

  	
   

  	
  504,872.03

  	
   

  
	
  Fidelity Devonshire Trust:
  Fidelity Balanced Fund

  	
   

  	
  324,908

  	
   

  	
  7,931,004.28

  	
   

  
	
  Fidelity Focus Health Care
  Fund

  	
   

  	
  3,440

  	
   

  	
  83,970.40

  	
   

  
	
  Fidelity Investments
  International for and on behalf of Fidelity Funds SICAV Health Care Pool

  	
   

  	
  7,994

  	
   

  	
  195,133.54

  	
   

  
	
  Variable Insurance
  Products Fund III: Balanced Portfolio

  	
   

  	
  6,471

  	
   

  	
  157,957.11

  	
   

  
	
  Fidelity Advisor Series I:
  Fidelity Advisor Balanced Fund

  	
   

  	
  25,028

  	
   

  	
  610,933.48

  	
   

  
	
  Polygon

  	
   

  	
  450,000

  	
   

  	
  10,984,500

  	
   

  
	
  UBS O’Connor

  	
   

  	
  75,000

  	
   

  	
  1,830,750

  	
   

  
	
  Balyasny Asset Mgmt Atlas
  Master Fund, Ltd

  	
   

  	
  15,678

  	
   

  	
  382,700

  	
   

  

 

 

	
  Visium Long Bias Offshore
  Fund, Ltd

  	
   

  	
  22,783

  	
   

  	
  556,133

  	
   

  
	
  Visium Long Bias Fund, LP

  	
   

  	
  4,699

  	
   

  	
  114,703

  	
   

  
	
  Visium Balanced Offshore
  Fund, Ltd

  	
   

  	
  27,888

  	
   

  	
  680,746

  	
   

  
	
  Visium Balanced Fund, LP

  	
   

  	
  28,952

  	
   

  	
  706,718

  	
   

  
	
  Ramius Capital Group

  	
   

  	
  100,000

  	
   

  	
  2,441,000

  	
   

  
	
  Heights Capital Mgmt
  (Susquehanna)

  	
   

  	
  100,000

  	
   

  	
  2,441,000

  	
   

  
	
  Healthcor

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Healthcor, LP

  	
   

  	
  238,000

  	
   

  	
  5,809,580

  	
   

  
	
  Healthcor Offshore, Ltd

  	
   

  	
  462,000

  	
   

  	
  11,277,420

  	
   

  
	
  Federated Kauffman

  	
   

  	
  400,000

  	
   

  	
  9,764,000

  	
   

  
	
  Manning & Napier

  	
   

  	
  150,000

  	
   

  	
  3,661,500

  	
   

  
	
  Chartwell

  	
   

  	
  200,000

  	
   

  	
  4,882,000

  	
   

  
	
  Amaranth

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Amaranth, LLC

  	
   

  	
  90,000

  	
   

  	
  2,196,900

  	
   

  
	
  Amaranth Global Equieits
  Master Fund Limited

  	
   

  	
  10,000

  	
   

  	
  244,100

  	
   

  
	
  Apogee / Paradigm

  	
   

  	
  100,000

  	
   

  	
  2,441,000

  	
   

  
	
  Precept

  	
   

  	
  25,000

  	
   

  	
  610,250

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL

  	
   

  	
  3,400,000

  	
   

  	
  $82,994,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]