Document:

EX10-20

Exhibit 10.20

__________

 

 

 

 

 

 

PROMISSORY NOTE

 

 

 

 

 

 

From:

 

AMERICAN EXPLORATION CORPORATION

 

 

To:

 

MAINLAND RESOURCES, INC.

 

 

 

 

Mainland Resources, Inc.

21 Waterway Avenue, Suite 300, The Woodlands, Texas, U.S.A., 77380

__________

PROMISSORY NOTE

 

 

Between the BORROWER and the LENDER

Aggregate Principal Sum of up to U.S. $60,000.00

 

Principal:        U.S. $60,000.00.                                      Made at Vancouver, British Columbia, Canada.

Maturing:        December 31, 2010.

                        THIS PROMISSORY NOTE is provided, dated and made effective as of the 27th day of September, 2010 (the "Effective Date").

 

FROM:

AMERICAN EXPLORATION CORPORATION, a company 

incorporated under the laws of the State of Nevada, U.S.A., and 

having an address for notice and delivery located at 407 2nd Street 

S.W., Calgary, Alberta, Canada, T2P 2Y3

(the "Borrower");

TO:

MAINLAND RESOURCES, INC., a company incorporated 

under the laws of the State of Nevada, U.S.A., and having an 

address for notice and delivery located at 21 Waterway Avenue, 

Suite 300, The Woodlands, Texas, U.S.A., 77380

(the "Lender").

(the Borrower and the Lender being hereinafter singularly also 

referred to as a "Party" and collectively referred to as the "Parties" 

as the context so requires).

 

                        WHEREAS:

                        The Borrower is a corporation duly incorporated under the laws of the State of Nevada, U.S.A., is a reporting company and issuer in each of the United States and in British Columbia, respectively, and has its common shares listed for trading on the OTCBB over-the-counter bulletin board;

                        The Lender is a corporation duly incorporated under the laws of the State of Nevada, U.S.A., is a reporting company and issuer in each of the United States and in British Columbia, respectively, and has its common shares listed for trading on the OTCBB over-the-counter bulletin board;

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                        In accordance with the terms and conditions of a certain "Merger Agreement and Plan of Merger" dated March 22, 2010, as amended by each of a certain "Letter Agreement" and an "Amending Agreement" dated July 28, 2010 and September 7, 2010, respectively, as entered into between the Parties hereto, the Parties intend to merge pursuant to the Nevada Revised Statutes with the Lender as the surviving corporation (collectively, the "Merger");

                        Prior to the intended closing of the Merger, and in order to assist the Borrower with various costs associated with the completion of the proposed Merger, the Lender had hereby agreed to advance, by way of loan or loans to the Borrower (collectively, the "Loan"), the aggregate principal sum of U.S. $60,000.00 (the "Principal Sum"), together with interest accruing on the Principal Sum at the rate of twelve percent (12%) per annum, calculated daily and payable in full monthly during the continuance of any portion of the Loan being outstanding hereunder (the "Interest") and prior to maturity; and

                        The Parties hereby acknowledge and agree that there have been various discussions, negotiations, understandings and agreements between them relating to the principle terms and conditions of the within Loan of the Principal Sum monies as contemplated therein and, correspondingly, that it is their intention by the terms and conditions of this "Promissory Note" (the "Promissory Note") to clarify their respective duties and obligations with respect to the within Loan to be provided hereunder;

 

                        FOR VALUABLE CONSIDERATION, receipt whereof is hereby acknowledged, the undersigned, Borrower, hereby promises to pay to the Lender, or the holder of this Promissory Note, in accordance with the terms and conditions referenced herein, the aggregate Principal Sum of U.S. $60,000.00, together with Interest payable thereon and commencing on the above-referenced Effective Date of this Promissory Note at the rate of twelve percent (12%) per annum, calculated daily and payable in full monthly during the continuance of any portion of the Principal Sum being outstanding hereunder prior to maturity; in the manner as set forth immediately hereinbelow.

                        Subject to the following, the Principal Sum, together with all outstanding Interest thereon as specified hereinabove, is hereby irrevocably and unconditionally due and payable by the Borrower to the Lender at or before 5:00 p.m. (Vancouver, British Columbia, time) on December 31, 2010 (the "Final Principal Sum Payment Date").  The Parties hereby acknowledge and agreed that, should the Merger be completed prior to the Final Principal Sum Payment Date, the within Loan will, subject to the prior advice of the Lender's professional advisors, acting reasonably, either be deemed cancelled or construed as an inter-company loan as between the Parties for which no repayment will be required.

                        The holder of this Promissory Note may, from time to time, grant written indulgences with respect to certain payment amounts or periods but such indulgences will not in any way affect the undersigned's liability upon this Promissory Note nor will such indulgences vary any other term to which indulgence has not specifically been granted.  No indulgence will be enforceable against the holder unless granted in writing.

                        The undersigned hereby waives demand, presentment for payment, notice of non-payment and protest.

                        If any provision of this Promissory Note is held to be invalid, illegal or unenforceable, then such will not affect or impair the validity, legality or enforceability of the remaining provisions.

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                        WITNESS the hand of the authorized representative of the undersigned Borrower given under seal as of the Effective Date determined hereinabove.

	
The COMMON SEAL of

AMERICAN EXPLORATION

CORPORATION,

the Borrower herein,

was hereunto affixed in the presence of:

"Steve Harding"                              

Authorized Signatory
	
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(C/S)

__________Amendment to Warrants

 Exhibit 4.10 
 ZOGENIX, INC. 
 AMENDMENT TO WARRANTS 

THIS AMENDMENT TO WARRANTS (this “Amendment”) is made and entered into as of October 7, 2010 by and among
Zogenix, Inc., a Delaware corporation (the “Company”), and the investors (the “Investors”) holding Warrants (the “Warrants”) issued pursuant to that certain Amended and Restated
Series B Preferred Stock Purchase Agreement dated December 2, 2009 by and among the Company and the persons and entities listed on the Schedule of Investors thereto. 
 WHEREAS, the Company and the Investors have determined that it is in their mutual interests to amend the Warrants as hereinafter set forth; and 

WHEREAS, pursuant to their terms the Warrants may be amended and the observance of any term thereof may be waived with the written
consent of the Company and the holders of sixty-seven percent (67%) of the shares issuable upon exercise of the Warrants. 

NOW, THEREFORE, in consideration of the foregoing, the undersigned Investors hereby agree with the Company as follows: 

1. Amendment to Warrants. Section 2.3 of the Warrants is hereby amended and restated in its entirety to read as follows: 

“2.3 Term; Method of Exercise. 
 2.3.1 Term. Subject to the terms hereof, this Warrant may be exercised, in whole or in part, at any time after the date hereof and prior to 5:00 p.m. (Pacific Time) on the close of business on
December 2, 2016 (the “Exercise Period”), unless sooner terminated as set forth in Section 6.3 below. 
 2.3.2 Method of Exercise. This Warrant is exercisable during the Exercise Period with respect to any or all of the Shares, at the option of Holder, upon surrender of this Warrant to the Company
together with (a) a duly completed (i) Notice of Exercise, in the form attached hereto as Exhibit A, or (ii) Net Issue Election Notice, in the form attached hereto as Exhibit B and (b) payment of an amount
equal to the Exercise Price multiplied by the number of Shares with respect to which this Warrant is being exercised as provided in Section 2.4 below. If Holder exercises this Warrant with respect to less than all of the Shares represented by
this Warrant, the Company shall cancel this Warrant upon the surrender thereof and shall execute and deliver to Holder a new Warrant for the balance of such Shares.” 
 2. No Other Amendment. Except for the matters set forth in this Amendment, all other terms of the Warrants shall remain unchanged and in full force and effect. 

3. Governing Law. This Warrant shall be governed by and construed and enforced in accordance with the laws of the State of California, without
giving effect to its conflicts of laws principles. 
 4. Counterparts. This Amendment may be executed in one or more counterparts,
each of which will be deemed an original but all of which together shall constitute one and the same instrument. 

[SIGNATURE PAGES FOLLOW] 

 IN WITNESS WHEREOF, the parties have executed this Amendment to Warrants as of the date
first written above. 
  

	
	COMPANY:
	
	 ZOGENIX, INC.
 a
Delaware corporation

	
	/s/ Ann D. Rhoads
	Ann D. Rhoads
	Executive Vice President and Chief Financial
	Officer

 SIGNATURE
PAGE TO 
 AMENDMENT TO WARRANTS 

			
	INVESTORS:
	
	DOMAIN PARTNERS VII, L.P.
		
	By:	 	 One Palmer Square Associates VII, L.L.C.,
 its General Partner

		
	By:	 	/s/ Kathleen K. Schoemaker
		 	 Kathleen K. Schoemaker

Managing Member

	
	DP VII ASSOCIATES, L.P.
		
	By:	 	 One Palmer Square Associates VII, L.L.C.,
 its General Partner

		
	By:	 	/s/ Kathleen K. Schoemaker
		 	 Kathleen K. Schoemaker

Managing Member

 SIGNATURE PAGE TO 

AMENDMENT TO WARRANTS 

			
	INVESTORS:
	
	SCALE VENTURE PARTNERS II, LP
		
	By:	 	 Scale Venture Management II, LLC

its General Partner

		
	By:	 	/s/ Louis C. Bock
		 	 Louis C. Bock
 Managing
Director

 SIGNATURE PAGE TO 

AMENDMENT TO WARRANTS 

			
	INVESTORS:
	
	 ABINGWORTH BIOVENTURES IV LP
 acting by:
     Its manager Abingworth Management Ltd

		
	By:	 	/s/ James Abell
	Name:	 	James Abell
	Title:	 	Director
	
	 ABINGWORTH BIOVENTURES IV EXECUTIVES LP
 acting by:
     Its manager Abingworth Management Ltd

		
	By:	 	/s/ James Abell
	Name:	 	James Abell
	Title:	 	Director

 SIGNATURE
PAGE TO 
 AMENDMENT TO WARRANTS 

			
	INVESTORS:
	
	TMP ASSOCIATES II, L.P.
		
	By:	 	/s/ James E. Thomas
	Name:	 	James E. Thomas
	Title:	 	Manager
	
	TMP NOMINEE II, LLC
		
	By:	 	/s/ James E. Thomas
	Name:	 	James E. Thomas
	Title:	 	Manager
	
	THOMAS, MCNERNEY & PARTNERS II, L.P.
		
	By:	 	/s/ James E. Thomas
	Name:	 	James E. Thomas
	Title:	 	Manager

 SIGNATURE
PAGE TO 
 AMENDMENT TO WARRANTS 

			
	INVESTORS:
	
	CLARUS LIFESCIENCES I, L.P.
		
	By:	 	 Clarus Ventures I Management, L.P.
 its general partner

		
	By:	 	 Clarus Ventures I, LLC
 its
general partner

		
	By:	 	/s/ Kurt C. Wheeler
		 	Kurt C. Wheeler
		 	Managing Director

SIGNATURE PAGE TO 
 AMENDMENT TO WARRANTS 

			
	INVESTORS:
	
	CHICAGO GROWTH PARTNERS II, L.P.
		
	By:	 	Chicago Growth Management II, LP
	Its:	 	General Partner
		
	By:	 	Chicago Growth Management II, LLC
	Its:	 	General Partner
		
	By:	 	/s/ Arda Mincherhomjee
		 	Arda Minocherhomjee
		 	Partner

 SIGNATURE
PAGE TO 
 AMENDMENT TO WARRANTS

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