Document:

Exhibit 10.1

 

AMENDMENT NO. 4 TO ASSET PURCHASE
AGREEMENT

 

This Amendment No.
4 to Asset Purchase Agreement (the "Amendment") is dated as of January 30, 2019 (the "Effective Date")
and is by and between Teva Pharmaceuticals USA, Inc., a Delaware corporation (collectively, "Teva"), on the one
hand, and ANI Pharmaceuticals, Inc., a Delaware corporation ("Buyer") on the other hand.

 

WHEREAS, Buyer and
Teva are parties to that certain Asset Purchase Agreement effective as of December 26, 2013 (the “Original Agreement”),
as amended by Amendment No. 1 (defined below), Amendment No. 2 (defined below) and Amendment No. 3 (defined below) (as so amended,
the "Agreement"), pursuant to which Buyer acquired the Purchased Assets from Teva;

 

WHEREAS, Buyer and
Teva entered into Amendment No. 1 to Asset Purchase Agreement as of March 4, 2015 ("Amendment No. 1"), pursuant
to which Buyer acquired the New ANDAs from Teva on the same terms and conditions as the Original Agreement, except for changes
required to reflect (i) the date of the purchase of the New Purchased Assets thereunder, (ii) the payment of the Third Payment
upon execution of the New Bill of Sale and (iii) a different Royalty percentage to be paid with respect to the New Products under
the New ANDAs, in each case as reflected in Amendment No. 1 (with all such capitalized terms having the same meaning as defined
in Amendment No. 1);

 

WHEREAS, Buyer and
Teva entered into Amendment No. 2 to Asset Purchase Agreement as of July 10, 2015 with respect to the generic pharmaceutical products
set forth therein ("Amendment No. 2") that Buyer also wished to acquire on and pursuant to the terms of the Original
Agreement (as amended by Amendment No. 1);

 

WHEREAS, Buyer and
Teva entered into Amendment No. 3 to Asset Purchase Agreement as of December 11, 2015 with respect to the generic pharmaceutical
products set forth therein ("Amendment No. 3") which were inadvertently excluded from Amendment No. 2 and which
Buyer also wished to acquire on and pursuant to the terms of the Original Agreement (as amended by Amendment No. 1 and Amendment
No. 2);

 

WHEREAS, pursuant to
the Agreement and in consideration of the Purchased Assets, Buyer agreed to pay Teva a Royalty on a Product by Product basis; and

 

WHEREAS, Buyer and
Teva have agreed to amend the terms of the Agreement to provide for the termination of the Royalty with respect to each of the
ANDAs and Products set forth on Exhibit A hereto (together, the “Commercialized Products”) and the payment
of the Amendment No. 4 Payment.

 

NOW, THEREFORE, in
consideration of the mutual covenants and conditions hereinafter expressed, Buyer and Teva agree as follows:

 

1.
       Amendment. The Buyer and Teva agree that, subject to Section 3 below, upon
receipt of the Amendment No. 4 Payment by Teva, all obligations of the Buyer with respect to the payment of any Royalty
(including without limitation, any Continuing Royalty Obligation) on or with respect to any Commercialized Product (and, for
clarity, the ANDAs associated therewith) (any and all such payment obligations with respect to the Commercialized Products,
together the “Future Royalty Obligations”) shall, in each case, terminate effective as of December 31,
2018 (the “Royalty Termination Date”) and thereafter be of no further force or effect such that following
the Royalty Termination Date no Future Royalty Obligation shall accrue or be payable by ANI with respect to any
Commercialized Products (or, for clarity, the ANDAs associated therewith) for any period or for any reason following the
Royalty Termination Date. Accordingly, the Buyer and Teva agree that the only continuing rights and obligations under the
Agreement that will continue with respect to the Commercialized Products (and, for clarity, the ANDAs associated
therewith) will be as provided in Section 3 below and the “Recordkeeping” obligations of the Buyer and the rights
and obligations of the Buyer and Teva under the section entitled “Audit Rights” with respect to the payment of
any Royalty that may have accrued prior to the Royalty Termination Date as and solely to the extent provided on Exhibit C or
other Product Exhibit (as applicable) to the Agreement (the “Surviving Commercialized Product
Provisions”). The Agreement is hereby amended mutatis mutandis to effect the foregoing, including, without
limitation, as follows:

 

     

     

    

 

a.        The
definitions of "ANDA Sale Transaction", "Calendar Quarter", "Continuing Royalty Obligation", "Contract
Margin", "Fully Absorbed Costs", "Launch Date", "Net Sales", "Product Year", "Royalty",
"Royalty Term" and "Territory" are hereby amended, together with any other terms in the Agreement as may be
necessary to omit the Commercialized Products (and, for clarity, the ANDAs associated therewith) and any sale thereof, from the
calculation and payment of any Royalty or other Future Royalty Obligation following the Royalty Termination Date.

 

b.       Section
6 of the Original Agreement is hereby amended to delete from clauses (b), (c), (d) and (e) thereof any obligations with respect
to the Commercialized Products (and, for clarity, the ANDAs associated therewith) following the Royalty Termination Date.

 

c.       The
applicable Product Exhibits (including Exhibit C, as applicable) of the Agreement are hereby amended to delete the Commercialized
Products (and, for clarity, the ANDAs associated therewith) therefrom, including without limitation, from any calculation of Net
Sales, Contract Margin or Royalty and from any other rights and obligations set forth therein following the Royalty Termination
Date, except for the Surviving Commercialized Product Provisions with respect to the Commercialized Products (and, for clarity,
the ANDAs associated therewith), which shall continue as and solely to the extent provided therein.

 

2.       Additional
Payment. In consideration of the foregoing amendments and as additional purchase price for the Products, upon the execution
of the Amendment, Buyer shall pay to Teva, by wire transfer of immediately available funds into an account designated in writing
to Buyer by Teva, the sum of Sixteen Million Dollars ($16,000,000) (the "Amendment No. 4 Payment").

 

3.       Existing
Obligations. The Parties agree that the termination effected hereby does not amend ANI’s obligation to pay any Royalty
accrued and owing with respect to any of the Products, including the Commercialized Products, for the period ending on or prior
to the Royalty Termination Date, or with respect to any Products other than the Commercialized Products following the Royalty Termination
Date, and which may have been due prior to or may be due after the Royalty Termination Date, which obligations shall continue in
accordance with the Agreement, as amended hereby. In addition, except as specifically provided herein, this Amendment shall not
be deemed to amend or terminate the provisions of Section 25 of the Original Agreement or the understanding set forth therein with
respect to the Commercialized Products or otherwise.

 

     

     

    

 

4.       Miscellaneous.

 

a.       Undefined
capitalized terms used herein shall have the meanings ascribed to them in the Agreement.

 

b.       The
recitals set forth above are deemed incorporated herein and a part hereof. Except as amended hereby, the Agreement shall remain
in full force and effect and is in all respects hereby ratified and affirmed.

 

c.       This
Amendment may be executed in two or more counterparts, each of which shall be deemed an original bit all of which, taken together,
shall constitute one and same instrument. PDF and facsimile signatures shall constitute original signatures.

 

[The remainder of this page is intentionally
left blank]

 

     

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment as of the Effective Date.

 

	TEVA PHARMACEUTICALS USA, INC.	 
	 	 	 
	By:	/s/Asaph Naaman	 
	Name:   	Asaph Naaman	 
	Title:	CFO, SVP NA Commercial	 
	 	 	 
	By: 	/s/Asaf Reshef	 
	Name:	Asaf Reshef	 
	Title: 	VP, BD	 
	 	 	 
	ANI PHARMACEUTICALS, INC.	 
	 	 	 
	By: 	/s/ Robert W. Schrepfer	 
	Name:  	Robert W. Schrepfer	 
	Title:	SVP, BDExhibit 10.1

  

   

    

  

    VISHAY INTERTECHNOLOGY, INC.

    63 Lancaster Avenue

    Malvern, Pennsylvania 19355

    

    

    

    

    February 22, 2019

    

    

    Mr. Werner Gebhardt

    

    

    

    

    Re: Amendment to Employment Agreement

    

    

    Dear Werner:

    

    

    Reference is made to that certain employment agreement dated February 15, 2018 (the “Employment Agreement”), by and between you (the
        “Executive”), Vishay Intertechnology, Inc., a Delaware corporation (the “Company”) and Vishay Electronic GmbH, a company with limited liability organized under the laws of Germany (“Vishay Electronic”).

    

    

    The Executive, the Company and Vishay Electronic (the “Parties”) acknowledge that the reference to “40%” in Section 4.3(a)
        of the Employment Agreement was intended to be “30%,” and the Parties further agree that such reference shall be changed to 30% effective as of February 15, 2018.

    This letter agreement shall constitute an amendment to the Employment Agreement, and except as otherwise set forth herein, all other terms and
        conditions of the Employment Agreement remain unchanged.

    

    

    Remainder of Page Intentionally Left Blank

     

      

     

    
     

      

  

   

    
    
      
        

    

    

    

    
       

      

       

      

       

      

      To confirm your agreement with the foregoing, please countersign this letter agreement in the space below provided.

      

      

      

      

      	 	
              By:

            	
               

               

              VISHAY INTERTECHNOLOGY, INC.

               

               /s/ Gerald Paul

              

            
	 	 	
              Name: Dr. Gerald Paul

                

              Title: CEO

            

      

      

      	 	
              By:

            	
               

               

              VISHAY ELECTRONIC GMBH

               

               /s/ Arnold Rohr

              

            
	 	 	
              Name: Arnold Rohr

                

              Title: Managing Director

                

            
	 	 	 
	 	 	 /s/ Günther Volkmann

            
	 	 	
              Name: Günther Volkmann

              

              Title: Managing Director 

              

            

      

      

      

      

      Accepted and agreed:

      	 /s/ Werner Gebhardt

            
	
              WERNER GEBHARDT

               

              DATE: February 26, 2019

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