Document:

AMENDMENT

TO

SHAREHOLDER RIGHTS AGREEMENT

This Amendment to Shareholder Rights Agreement (the “Amendment”) is effective as of June 1, 2011, by and between Albany Molecular Research, Inc., a Delaware corporation (the “Company”), and Mellon Investor Services LLC (the “Rights Agent”).

WITNESSETH:

WHEREAS, the Company is party to that certain Shareholder Rights Agreement, dated as of September 18, 2002 (the “Rights Agreement”), with the Rights Agent.  All capitalized terms used herein and not otherwise defined shall having the meaning ascribed to them in the Rights Agreement; and

WHEREAS, the Company now desires to amend the Rights Agreement as set forth in this Amendment, and pursuant to Section 27 of the Rights Agreement, the Board of Directors of the Company hereby directs that the Rights Agreement should be amended as set forth in this Amendment.

NOW THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

1.          Amendments to Section 1. Section 1(d) of the Rights Agreement is hereby amended and restated in its entirety as follows:

	
  

	
(d)

	
A Person shall be deemed the “Beneficial Owner” of, and shall be deemed to “Beneficially Own” and have “Beneficial Ownership” of, any securities:

	
  

	
(i)

	
which such Person or any of such Person’s Affiliates or Associates, directly or indirectly, Beneficially Owns (as determined pursuant to Rule 13d-3 of the Rules under the Exchange Act, as in effect on the date of this Agreement);

	
  

	
(ii)

	
which such Person or any of such Person’s Affiliates or Associates, directly or indirectly, has:

	
  

	
(A)

	
the right to acquire (whether or not such right is exercisable immediately or only after the passage of time or upon the satisfaction of any conditions or both) pursuant to any agreement, arrangement or understanding (whether or not in writing) (other than customary agreements with and between underwriters and selling group members with respect to a bona fide public offering of securities) or upon the exercise of conversion rights, exchange rights, rights (other than the Rights), warrants or options, or otherwise; provided, however, that a Person shall not be deemed the “Beneficial Owner” of, or to “Beneficially Own” or have “Beneficial Ownership” of, (1) securities tendered pursuant to a tender or exchange offer made by or on behalf of such Person or any of such Person’s Affiliates or Associates until such tendered securities are accepted for purchase or exchange; (2) securities issuable upon exercise of these Rights at any time prior to the occurrence of a Triggering Event; or (3) securities issuable upon exercise of Rights from and after the occurrence of a Triggering Event, which Rights were acquired by such Person or any of such Person’s Affiliates or Associates prior to the Distribution Date or pursuant to Sections 3(a), 11(i) or 22 hereof; or

 

  

  

  

 

	
  

	
(B)

	
the right to vote pursuant to any agreement, arrangement or understanding (whether or not in writing); provided, however, that a Person shall not be deemed the “Beneficial Owner” of, or to “Beneficially Own” or have “Beneficial Ownership” of, any security under this clause (B) if the agreement, arrangement or understanding to vote such security (1) arises solely from a revocable proxy given in response to a public proxy or consent solicitation made pursuant to, and in accordance with, the Rules of the Exchange Act and (2) is not also then reportable by such person on Schedule 13D under the Exchange Act (or any comparable or successor report); or

	
  

	
(C)

	
the right to dispose of pursuant to any agreement, arrangement or understanding (whether or not in writing) (other than customary arrangements with and between underwriters and selling group members with respect to a bona fide public offering of securities); or

	
  

	
(iii)

	
which are Beneficially Owned, directly or indirectly, by any other Person (or any Affiliate or Associate thereof) with which such Person or any of such Person’s Affiliates or Associates has any agreement, arrangement or understanding (whether or not in writing) (other than customary agreements with and between underwriters and selling group members with respect to a bona fide public offering of securities) for the purpose of acquiring, holding, voting (except pursuant to a revocable proxy as described in clause (B) of Section 1(d)(ii) hereof) or disposing of any securities of the Company;

 

provided, however, that (1) no Person engaged in business as an underwriter of securities shall be deemed the Beneficial Owner of any securities acquired through such Person’s participation as an underwriter in good faith in a firm commitment underwriting until the expiration of forty (40) days after the date of such acquisition, and (2) no Person who is a director or an officer of the Company shall be deemed, as a result of his or her position as director or officer of the Company, the Beneficial Owner of any securities of the Company that are Beneficially Owned by any other director or officer of the Company and  (3) Thomas E. D'Ambra shall not be deemed to Beneficially Own any shares of Common Stock of the Company underlying any equity awards granted to Dr. D'Ambra from and after March 23, 2011, by the Board of Directors of the Company or the Compensation Committee thereof or any shares of Common Stock of the Company acquired by Dr. D'Ambra upon the vesting or exercise of such awards to the extent that such Beneficial Ownership would cause Dr. D'Ambra to be an Acquiring Person under this Agreement.

 

  

2

  

For all purposes of this Agreement, the phrase “then outstanding,” when used with reference to the percentage of the then outstanding securities Beneficially Owned by a Person, shall mean the number of securities then issued and outstanding together with the number of such securities not then actually issued and outstanding which such Person would be deemed to Beneficially Own hereunder.

 

2.          Effectiveness.  This Amendment shall be deemed effective as of the date first above written, as if executed on such date.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Rights Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected.

 

3.          Governing Law.  This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State.  The courts of the State of Delaware and of the United States of America located in the State of Delaware (the “Delaware Courts”) shall have sole and exclusive jurisdiction over any litigation arising out of or relating to this Agreement and the transactions contemplated hereby, except with regard to any litigation arising out of or relating solely to the rights, duties or obligations of the Rights Agent which shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed entirely within such State.

4.          Counterparts.  This Amendment may be executed in any number of counterparts, which shall for all purposes be deemed an original, and all such counterparts together shall constitute but one and the same instrument.

 

[Remainder of page has intentionally been left blank]

 

  

3

  

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the day and year first above written.

	  	  	
ALBANY MOLECULAR RESEARCH, INC.

	  	  	  
	
Attest:

	  	  	  

 

	/s/ Lori Henderson 	  	By: 	
   /s/ 

	
Mark T. Frost

	
Name:

	
Lori Henderson

	  	
Name:

	
Mark T. Frost

	
Title:

	
General Counsel

	  	
Title:

	
CFO/Treasurer

	  	  	  	
Officer

 

	  	  	
MELLON INVESTOR SERVICES LLC,

	  	  	
as Rights Agent

	  	  	  	  
	
Attest:

	  	  	  
	  	  	  	  
	
/s/ Margaret B. Lloyd

	  	By: 	
    /s/ 

	
John J. Boryczki

	
Name: Margaret B. Lloyd

	  	
Name:

	
John J. Boryczki

	
Title:   Relationship Manager

	  	
Title:

	
Relationship Manager

 

[Signature Page to Amendment to Rights Agreement]Unassociated Document

 

EXHIBIT 10.1

BINDING LETTER OF INTENT

 

THIS BINDING LETTER OF INTENT (the “LOI”), is entered into by and,

 

	
 BETWEEN:

	
LED POWER GROUP, INC., a Nevada corporation having an office at 1694 Falmouth Road, Suite 150, Centerville Massachusetts, U.S.A. 02632-2933 

(“COMPANY”)

 

	
AND:

	
NYXIO TECHNOLOGIES CORPORATION, an Oregon corporation having an office at  2156 NE Broadway St, Portland, OR 97232

 

(“NYXIO”)

BACKGROUND AND PURPOSE

The Company is a publicly traded company with the ticker symbol “LPWR” on the United States over-the-counter (OTC) bulletin board securities market.

The Company wishes to acquire Nyxio through a reverse acquisition and believes Nyxio to have a valuable intellectual property rights related to hardware and software, including integrated flat screen television and full PC, VioSphere, LCD and LED televisions, games and other accessories (“Intellectual Property Rights”).

The Company and the stockholders of Nyxio wish to enter into a reverse acquisition transaction whereby the Company would acquire all of the issued and outstanding capital stock of Nyxio in exchange for the issuance to the stockholders of Nyxio of approximately 22,500,000 shares of common stock of the Company.

The parties wish to enter into this Binding Letter of Intent which states that, upon completion of the conditions as set forth herein and in a formal, definitive agreement, the Company will acquire Nyxio.

AGREEMENT

NOW, THEREFORE,  in consideration of the mutual agreements and representations contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

	
1.  

	
This LOI constitutes a binding agreement with regard to the various matters set forth herein and shall become effective only upon the date the Company makes a payment of $25,000 to Nyxio.

 

	
2.  

	
The Company and Nyxio agree that they will enter into a definitive agreement containing substantially the same terms and provisions as set forth in Paragraphs 3-8 of this LOI within thirty (30) days from the date of execution of this LOI (the “Definitive Agreement”).

 

	
3.  

	
Upon the satisfaction of the conditions set forth herein and in the Definitive Agreement, the Company will acquire all of the issued and outstanding capital stock of Nyxio in exchange for the issuance to the stockholders of Nyxio of: (i) 22,500,000 shares of common stock of the Company, and (ii) a warrant (the “Warrant”) to purchase 37,500,000 shares of common stock of the Company at $0.01 per share (the “Exchange”). The Warrant is exercisable with respect to 9,375,000 shares for every $1,000,000 in realized revenue reported on the Company’s audited consolidated financial statements as prepared pursuant to the Exchange Act for a 24 month period from Closing, up to an aggregate maximum of 37,500,000 shares. Upon Closing, Nyxio shall become a wholly-owned subsidiary of the Company.

 

	
4.  

	
The closing of the Exchange (the “Closing”) shall occur on or before thirty (30) days from the execution of this LOI. Immediately prior to Closing, the Company will have approximately 15,000,000 shares issued and outstanding. Immediately after Closing, the Company will have no more than 37,500,000 shares issued and outstanding and no more than 37,500,000 warrants outstanding. Any additional share issuances will require the approval of Nyxio’s board of directors. Within seventy-one (71) days of Closing, the Company shall file audited financial statements of Nyxio as required to be filed by the Company in accordance with the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

  

  

  

 

	
5.  

	
After Closing, John J. Lennon will remain a director of the Company for at least six months unless he earlier tenders his resignation.

 

	
6.  

	
Giorgio Johnson will be the President of the Company immediately after Closing.

 

	
7.  

	
Upon Closing, the Company commits to providing at least $50,000 per month in funding the development and exploitation of the Intellectual Property Rights, and any additional funding required to maintain the Company’s public reporting requirements under the Exchange Act.

 

	
8.  

	
Within 12 months of Closing, the Company will on a best efforts basis conduct a financing of at least $1,000,000.

 

	
9.  

	
Immediately upon execution of this LOI, the Company will change its name to “Nyxio Technologies, Inc.” or a mutually agreed upon name, and Nyxio hereby grants to the Company the right to use the name “Nyxio” or any variation thereof.  Nyxio further agrees to assist the Company with executing or filing any additional documentation required by the Company to the use of such name.

 

	
10.  

	
The Definitive Agreement shall contain customary representation and warranties, covenants and indemnification provisions.

 

	
11.  

	
In consideration of the time and effort the Company will incur to pursue this transaction, Nyxio agrees that, from the date of execution of this LOI (or, if sooner, until such time as the parties agree in writing to terminate this LOI) until the Closing, neither Nyxio nor its stockholders nor any person or entity acting on their behalf will in any way directly or indirectly (i) solicit, initiate, encourage or facilitate any offer to directly or indirectly purchase Nyxio or any of its assets or equity, (ii) enter into any discussions, negotiations or agreements with any person or entity which provide for such purchase, or (iii) provide to any persons other than the Company or its representatives any information or data related to such purchase or afford access to the properties, books or records of Nyxio to any such persons. If Nyxio, its stockholders or its representatives receive any inquiry or proposal offering to purchase Nyxio or any part of its assets or equity, Nyxio will promptly notify the Company.

 

	
12.  

	
Neither Nyxio nor its principals shall be responsible for any of the costs and expenses incurred in connection with this LOI and the Agreement and the transactions contemplated hereby and thereby.

 

	
13.  

	
No party hereto will make any disclosure or public announcements of the proposed transactions, the LOI or the terms thereof without the prior knowledge of the other parties, which shall not be unreasonably withheld, or except as required by relevant securities laws; provided, however, the Company may issue press releases in the ordinary course of business.

 

	
14.  

	
Each party agrees and acknowledges that such party and its directors, officers, employees, agents and representatives will disclose business information and information about the proposed transaction in the course of securing financings for the Company and Nyxio and that the parties and their representatives may be required to disclose that information under the continuous disclosure requirements of the Exchange Act.

 

	
15.  

	
This LOI shall be construed in accordance with, and governed by, the laws of the State of Nevada, and each party separately and unconditionally subjects to the jurisdiction of any court of competent authority in the State of Nevada, and the rules and regulations thereof, for all purposes related to this agreement and/or their respective performance hereunder.

 

	
16.  

	
The parties shall prepare, execute and file any and all documents necessary to comply with all applicable federal and state securities laws, rules and regulations in any jurisdiction where they are required to do so.

 

	
17.  

	
If any term or provision hereof shall be held illegal or invalid, this LOI shall be construed and enforced as if such illegal or invalid term or provision had not been contained herein.

 

	
18.  

	
This LOI may be executed in counterparts, by original or facsimile signature, with the same effect as if the signatures to each such counterpart were upon a single instrument; and each counterpart shall be enforceable against the party actually executing such counterpart.  All counterparts shall be deemed an original copy.

 

  

  

  

 

	
19.  

	
The delay or failure of a party to enforce at any time any provision of this LOI shall in no way be considered a waiver of any such provision, or any other provision of this LOI.  No waiver of, delay or failure to enforce any provision of this LOI shall in any way be considered a continuing waiver or be construed as a subsequent waiver of any such provision, or any other provision of this LOI.

DATED EFFECTIVE May 26, 2011

LED POWER GROUP, INC.

(Authorized Signatory)

NYXIO TECHNOLOGIES CORPORATION.

(Authorized Signatory)

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