Document:

EXHIBIT 10.2

             

            THE SECURITIES, IF ANY, REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND ANY APPLICABLE STATE LAWS, (ii) TO THE EXTENT
            APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE COMPANY, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND APPLICABLE STATE LAW IS AVAILABLE.

             

            PLASMATECH, INC.

             

            PROMISSORY NOTE

             

            
                	
                            Principal Amount: $450,000

                        	
                             

                        	
                            Issuance Date: December 15, 2009

                        
	
                             

                        	
                             

                        	
                             

                        
	
                            Interest Rate: 0%

                        	
                             

                        	
                            Maturity Date: December 15, 2012

                        

            

             

             

            Plasmatech, Inc., a Nevada corporation (the “Company”) hereby promises to pay to the order of RF Wireless, LLC., a Nevada limited liability company (the “Noteholder”), pursuant to the terms of that certain Intellectual Property Purchase Agreement dated as of
            the date hereof and attached hereto as Exhibit A and the terms herein, in lawful money of the United States of America, Four Hundred and Fifty Thousand Dollars ($450,000) due and payable on December 15, 2012 and as further described herein. 

             

            
                	
                             

                        	
                            1.

                        	
                            INTEREST. This note shall carry no interest.

                        

            

             

            2.         PREPAYMENT. This Promissory Note (the “Note”) may be prepaid, in whole or in part, by the Company at anytime.

             

            
                	
                             

                        	
                            3.

                        	
                            PAYMENT TERMS. 

                        	
                            This Note shall be payable as follows:

                        

            

             

            a.        An initial payment of One Hundred and Fifty Thousand Dollars ($150,000) on or before the one year anniversary of the Issuance Date; 

             

            b.        A second payment of One Hundred and Fifty Thousand Dollars ($150,000) on or before the two year anniversary of the Issuance Date; and

             

            c.        A third payment of One Hundred and Fifty Thousand Dollars ($150,000) on or before the three year anniversary of the Issuance Date. 

             

             

            
                

                
                    	
                                 

                            	
                                _______Company

                            

                

                
                    	
                                 

                            	
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            4.         TRANSFER AND ASSIGNMENT. This Note shall be freely transferable and assignable by the Noteholder and the Company provided such transfer is in compliance with applicable federal and state securities laws.

             

            5.         DEFAULT.   The occurrence of any one of the following events shall constitute an “Event of Default”:

             

            a.        A default in the performance or observance of any material covenant, condition or agreement contained in this Note, including the payment of any amount due and owing under Section 3 herein, and such default is not fully cured within thirty business days after the Company receives notice from the Noteholder of the occurrence
            thereof; 

             

            b.         The commencement by the Company of any voluntary proceeding under any bankruptcy, reorganization, arrangement, insolvency, readjustment or debt, receivership, dissolution, or liquidation law or statute or any jurisdiction, whether now or hereafter in effect; or the adjudication of the Company as insolvent or bankrupt by a decree
            of a court of competent jurisdiction; or the petition or application by the Company for, acquiescence in, or consent by the Company to, the appointment of any receiver or trustee for the Company or for all or a substantial part of the property of the Company; or the assignment by the Company for the benefit of creditors; or the written admission of the Company of its inability to pay its debts as they mature; or

             

            c.         The commencement against the Company of any proceeding relating to the Company under any bankruptcy, reorganization, arrangement, insolvency, adjustment of debt, receivership, dissolution or liquidation law or statute or any jurisdiction, whether now or hereafter in effect, provided, however, that the commencement of such a
            proceeding shall not constitute an Event of Default unless the Company consents to the same or admits in writing the material allegations of same, or said proceeding shall remain undismissed for 20 days; or the issuance of any order, judgment or decree for the appointment of a receiver or trustee for the Company or for all or a substantial part of the property of the Company, which order, judgment or decree remains undismissed for 20 days; or a warrant of attachment, execution, or
            similar process shall be issued against any substantial part of the property of the Company.

             

            6.         NOTICES. Notices to be given hereunder shall be in writing and shall be deemed to have been sufficiently given if delivered personally or sent by overnight courier or messenger or sent by registered or certified mail (air mail if overseas), return receipt requested, or
            by telex, facsimile transmission, electronic mail transmission, telegram or similar means of communication. Notice shall be deemed to have been received on the date of personal delivery, telex, facsimile transmission, electronic mail, telegram or similar means of communication, or if sent by overnight courier or messenger, shall be deemed to have been received on the next delivery day after deposit with the courier or messenger, or if sent by certified or registered mail, return
            receipt requested, shall be deemed to have been received on the third business day after the date of mailing and shall be addressed to:

             

             

            
                

                
                    	
                                 

                            	
                                _______Company

                            

                

                
                    	
                                 

                            	
                                Page 2 of 6

                            

                

                 

                

            

            
                

            

             

            
                	
                            If to the Company to:

                             

                            Plasmatech, Inc.

                            2764 Lake Sahara Dr., Suite 111

                            Las Vegas, Nevada 89117

                            Telephone: (702)-851-1330

                            E-mail: corporate@plasmatechinc.com

                        	
                            If to the Noteholder to:

                             

                            RF Wireless, LLC

                            Attn: Sylvia Smalley

                            Sylvia@rfwirelesssolutions.com

                            Telephone: (604)-598-0295

                             

                        

            

             

            7.         GOVERNING LAW. The subject matter of this Note shall be governed by and construed in accordance with the laws of the State of Nevada (without reference to its choice of law principles), and to the exclusion of the law of any other forum, without regard to the
            jurisdiction in which any action or special proceeding may be instituted. EACH PARTY HERETO AGREES TO SUBMIT TO THE PERSONAL JURISDICTION AND VENUE OF THE STATE COURTS LOCATED IN THE NEVADA FOR RESOLUTION OF ALL DISPUTES ARISING OUT OF, IN CONNECTION WITH, OR BY REASON OF THE INTERPRETATION, CONSTRUCTION, AND ENFORCEMENT OF THIS NOTE, AND HEREBY WAIVES THE CLAIM OR DEFENSE THEREIN THAT SUCH COURTS CONSTITUTE AN INCONVENIENT FORUM. AS A MATERIAL INDUCEMENT FOR THIS NOTE, EACH PARTY
            SPECIFICALLY WAIVES THE RIGHT TO TRIAL BY JURY OF ANY ISSUES SO TRIABLE. 

             

            8.         ATTORNEY’S FEES. Should any party hereto employ an attorney for the purpose of enforcing or constituting this Note, or any judgment based on this Note, in any legal proceeding whatsoever, including insolvency, bankruptcy, arbitration, declaratory relief or other
            litigation, the prevailing party shall be entitled to receive from the other party or parties thereto reimbursement for all reasonable attorneys’ fees and all reasonable costs, including but not limited to service of process, filing fees, court and court reporter costs, investigative costs, expert witness fees, and the cost of any bonds, whether taxable or not, and that such reimbursement shall be included in any judgment or final order issued in that proceeding. 

             

            9.         CONFORMITY WITH LAW.It is the intention of the Company and of the Noteholder to conform strictly to applicable usury and similar laws. Accordingly, notwithstanding anything to the contrary in this Note, it is agreed that the aggregate of all charges which constitute
            interest under applicable usury and similar laws that are contract for, chargeable or receivable under or in respect of this Note, shall under no circumstances exceed the maximum amount of interest permitted by such laws, and any excess, whether occasioned by acceleration or maturity of this Note or otherwise, shall be canceled automatically, and if theretofore paid, shall be either refunded to the Company or credited on the principal amount of this Note.

             

            10.       AMENDMENT. This Note may be amended at anytime upon the mutual written consent of the Company and the Noteholder

             

            11.       MISCELLANEOUS.The provisions of this Note may only be waived in or by a writing signed by the party against whom enforcement of any waiver is sought. This Note 

             

            
                

                
                    	
                                 

                            	
                                _______Company

                            

                

                
                    	
                                 

                            	
                                Page 3 of 6

                            

                

                 

                

            

            
                

            

            embodies the entire understanding between Noteholder and the Company and merges all prior discussions or communications between them. Time is of the essence in the performance under this Note and of each and every provision thereof.

             

            ***SIGNATURE PAGE FOLLOWS***

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

             

            
                

                
                    	
                                 

                            	
                                _______Company

                            

                

                
                    	
                                 

                            	
                                Page 4 of 6

                            

                

                 

                

            

            
                

            

             

            SIGNATURE PAGE

             

            IN WITNESS WHEREOF, the Company has signed and sealed this Note and delivered it as of the date first set forth above.

             

            
                	
                             

                        	
                            PLASMATECH, INC.

                        

            

            
                	
                             

                        	
                            A Nevada corporation

                        

            

             

             

            
                	
                             

                        	
                            _______________________________________

                        

            

            
                	
                             

                        	
                            By: Marvin Williams

                        

            

            
                	
                             

                        	
                            Its: 

                        	
                            Chief Executive Officer

                        

            

             

             

            Agreed and Confirmed by:

             

            RF WIRELESS, LLC

            
                	
                             

                        	
                            A Nevada limited liability company

                        

            

             

             

            
                	
                             

                        	
                            ________________________________________

                        

            

            
                	
                             

                        	
                            By: Sylvia Smalley

                        

            

            
                	
                             

                        	
                            Its: 

                        	
                            President

                        

            

             

             

             

             

             

             

             

             

             

             

             

            
                

                
                    	
                                 

                            	
                                _______Company

                            

                

                
                    	
                                 

                            	
                                Page 5 of 6

                            

                

                 

                

            

            
                

            

             

            EXHIBIT A

             

            Intellectual Property Purchase Agreement

             

             

             

             

             

            
                

                
                    	
                                 

                            	
                                _______Company

                            

                

                
                    	
                                 

                            	
                                Page 6 of 6exv10w1

Exhibit 10.1

SECOND AMENDMENT TO SINGLE TENANT ABSOLUTE NET LEASE

     THIS SECOND AMENDMENT TO SINGLE TENANT ABSOLUTE NET LEASE (this “Amendment”) is
entered into as of this 21st day of December, 2009 (the “Second Amendment Effective Date”),
by and between 10165 McKELLAR COURT, L.P., a California limited partnership (“Landlord),
and QUIDEL CORPORATION, a Delaware corporation (“Tenant”).

RECITALS

     A. WHEREAS, Landlord and Tenant entered into that certain Single Tenant Absolute Net Lease
dated as of December 20, 1999, as amended by that certain First Amendment to Single Tenant Absolute
Net Lease dated as of December 20, 1999 (as amended by this Amendment, and as the same may have
been otherwise amended, supplemented or modified from time to time, the “Lease”), whereby
Tenant leases the Premises from Landlord consisting of the Building at 10165 McKellar Court, San
Diego, California; and

     B. WHEREAS, Landlord and Tenant desire to extend the Lease Term and provide Tenant with three
(3) renewal options of five (5) years each; and

     C. WHEREAS, Landlord and Tenant desire to modify and amend the Lease only in the respects and
on the conditions hereinafter stated.

AGREEMENT

     NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound, agree as follows:

     1. Definitions. For purposes of this Amendment, capitalized terms shall have the
meanings ascribed to them in the Lease unless otherwise defined herein.

     2. Lease Term Extension. The expiration date of the initial Lease Term is hereby
changed from December 19, 2014 to December 31, 2019 (the “Initial Lease Term Expiration
Date”). The aforementioned extension of the initial Lease Term shall not constitute the
exercise of an extension option pursuant to Section 4.1 of the Lease.

     3. Extension Options. Tenant is hereby granted one (1) additional option to extend
the Lease Term for a period of five (5) years, resulting in Tenant having the ability, pursuant to
Section 4.1 of the Lease, to extend the Lease Term for three (3) additional periods of five
(5) years each following the Initial Lease Term Expiration Date, subject to all the provisions of
the Lease.

     4. Return of Deposit. Landlord and Tenant acknowledge that it is contemplated that
BioMed Realty, L.P. (“BioMed”) will make a mortgage loan to Landlord for the purpose of
refinancing Landlord’s current mortgage loan that is secured by the Premises. Upon payoff of

 

 

the existing mortgage loan (to Midland Loan Services, Inc. or its successors (the
“Lender”)), Landlord agrees, consistent with that certain letter, dated December 20, 1999
(the “Side Letter”), to return to Tenant the balance of that certain Tenant Improvements
and Leasing Commissions escrow account, which account is held by Lender and will be returned to the
Landlord upon the payoff of the existing loan. Consistent with the Side Letter, Landlord and
Tenant acknowledge that the Percentage Interests in Operating Cash Flow (as defined in Section
6(c)(i) and (ii) of the Landlord’s Agreement of Limited Partnership (the “Partnership
Agreement”)) of the Limited Partner (as defined in the Partnership Agreement) and the General
Partner (as defined in the Partnership Agreement) will remain 78% and 22% respectively, subject to
and in accordance with the Partnership Agreement.

     5. Consent to Memorandum of Lease; Subordination, Non-Disturbance and Attornment
Agreement. By signing below, Landlord consents to Tenant recording a memorandum of lease to
record this Lease in the form attached hereto as Exhibit A. Landlord and Tenant also agree
to execute, and cause Lender to execute, a Subordination, Non-Disturbance and Attornment Agreement
in the form attached hereto as Exhibit B.

     6. Condition of Premises. Tenant acknowledges that (a) it is in possession of and is
fully familiar with the condition of the Premises and (b) Landlord shall have no obligation to
alter, repair or otherwise prepare the Premises for Tenant’s continued occupancy or to pay for any
improvements to the Premises, except as may be expressly provided in the Lease.

     7. Broker. Tenant acknowledges that BioMed will make a one-time payment of $25,000 to
Cresa Partners in connection with Cresa Partners negotiating, arranging and procuring the New Term
Loan Documents (as defined in the Partnership Agreement) and this Amendment. Tenant agrees to
indemnify, defend and hold Landlord harmless from any and all cost or liability for compensation
claimed by any broker engaged by Tenant or claiming to have been employed or engaged by it in
connection with negotiating, arranging or procuring this Amendment.

     8. No Default. Landlord and Tenant each represents, warrants and covenants to the
other that, to the best of its knowledge, neither party is in default of any of their respective
obligations under the Lease and no event has occurred that, with the passage of time or the giving
of notice (or both) would constitute a default by either Landlord or Tenant thereunder.

     9. Effect of Amendment. Except as modified by this Amendment, the Lease and all the
covenants, agreements, terms, provisions and conditions thereof shall remain in full force and
effect and are hereby ratified and affirmed. The covenants, agreements, terms, provisions and
conditions contained in this Amendment shall bind and inure to the benefit of the parties hereto
and their respective successors and, except as otherwise provided in the Lease, their respective
assigns. In the event of any conflict between the terms contained in this Amendment and the Lease,
the terms herein contained shall supersede and control the obligations and liabilities of the
parties. From and after the date hereof, the term “Lease” as used in the Lease shall mean the
Lease, as modified by this Amendment.

2

 

     10. Miscellaneous. This Amendment becomes effective only upon execution and delivery
hereof by Landlord and Tenant. The captions of the paragraphs and subparagraphs in
this Amendment are inserted and included solely for convenience and shall not be considered or
given any effect in construing the provisions hereof. All exhibits hereto are incorporated herein
by reference.

     11. Counterparts. This Amendment may be executed in one or more counterparts that,
when taken together, shall constitute one original.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

3

 

     IN WITNESS WHEREOF, Landlord and Tenant have hereunto set their hands as of the date and year
first above written, and acknowledge that they possess the requisite authority to enter into this
transaction and to execute this Amendment.

	 	 	 	 	 
	LANDLORD:

10165 MCKELLAR COURT, L.P.,

a California limited partnership

 	 	 
	By:  	BMR-10165 MCKELLAR COURT GP LLC, 
its General Partner
 	 	 
	 	 	 
	By:  	/s/
Kevin M. Simonsen	 	 
	 	Name:  	Kevin M. Simonsen	 	 
	 	Title:  	VP, Real Estate Counsel	 	 
	 
	TENANT:

QUIDEL CORPORATION,

a Delaware corporation

 	 	 
	By:  	/s/ John M. Radak	 	 
	 	Name:  	John M. Radak	 	 
	 	Title:  	Chief Financial Officer	 	 
	 

[Signature Page to Second Amendment to Lease]

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