Document:

ex101.htm

    EXHIBIT
      10.1

    TAO
      MINERALS LTD.

    

    2007
      PROFESSIONAL/CONSULTANT STOCK COMPENSATION PLAN

    

    1.  Purpose.
      The purpose of this Plan is to provide compensation in the form of Common Stock
      of the Company to eligible consultants that have previously
      rendered  services  or  that  will  render  services  during  the  term  of
      this 2007 Professional/Consultant Stock Compensation Plan (hereinafter referred
      to as the Plan.)

    

    2.  Administration.
      (a)  This Plan shall be administered by the Board of Directors who may
      from time to time issue orders or adopt resolutions, not inconstant with the
      provisions of this Plan, to interpret the provisions and supervise the
      administration of this Plan.  The President shall make initial
      determinations as to which consultants, professionals or advisors will be
      considered to receive shares under this Plan, in addition, will provide a list
      to the Board of Directors. All final determinations shall be by the affirmative
      vote of a majority of the members of the Board of Directors at a meeting called
      for such purpose, or reduced to writing and signed by a majority of the members
      of the Board. Subject to the Corporation's Bylaws,
      all  decisions  made  by  the  Directors  in  selecting  eligible  consultants
      (hereinafter referred to as Consultants), establishing the number of shares,
      and
      construing the provisions of this Plan shall be final, conclusive and binding
      on
      all persons including the Corporation, shareholders, employees and
      Consultants.

    

    (b)  The
      Board of Directors may from time to time appoint a Consultants Plan Committee,
      consisting of at least one Director and one officer, none of whom shall be
      eligible to participate in the Plan while members of the Committee. The Board
      of
      Directors may delegate to such Committee power to select the particular
      Consultants that are to receive shares, and to determine the number of shares
      to
      be allocated to each such Consultant.

    

    (c)
      If
      the SEC Rules and or regulations relating to the issuance of Common Stock under
      a Form S-8 should change during the terms of this Plan, the Board of Directors
      shall have the power to alter this Plan to conform to such changes.

    

    3.  Eligibility.  Shares
      shall be granted only to Professionals and Consultants that are within that
      class for which Form S-8 is applicable.

    

    4.  Shares
      Subject to the Plan.  The total number of shares of Common Stock
      to be subject to this Plan is

    6,000,000.
      The shares subject to the Plan will be registered with the SEC on or about
      September 20, 2007 in a Form S-8 Registration.

    

    5.  Death
      of Consultant. If a Consultant dies while he is a Consultant of the
      Corporation or of any

    subsidiary,
      or within 90 days after such termination, the shares, to the extent that the
      Consultant was to be issued shares under the plan, may be issued to his personal
      representative or the person or persons to whom his rights under the
      plan  shall  pass  by  his  will  or  by  the  applicable  laws  of  descent
      and distribution.

    

    6.  Termination
      of Consultant, retirement or disability.  If a Consultant shall
      cease to be retained by the Corporation for any reason (including retirement
      and
      disability) other than death after he shall have

    continuously
      been so retained for his specified term, he may, but only within the three-month
      period immediately following such termination, request his pro-rata number
      of
      shares for his services already rendered.

    

    7.  Termination
      of the Plan.  This Plan shall terminate one year after its
      adoption by the Board of Directors.

    At
      such
      time, any shares that remain unsold shall be removed from registration by means
      of a post-effective amendment to the Form S-8.

    

    8.  Effective
      Date of the Plan.  This Plan shall become effective upon its
      adoption by the Board of Directors.

    

    

    

    

    CERTIFICATION
      OF ADOPTION

    (By
      the
      Board of Directors)

    

    The
      undersigned, being the President and Chairman of the Board of Directors of
      Tao
      Minerals Ltd. hereby certifies that the foregoing Plan was adopted by a
      unanimous vote of the Board of Directors on September 20, 2007.

    
      	 	 	 	 	 
	
              /s/
                James
                Sikora

            	 	 	
               

            	 
	
              James
                SikoraExhibit
4.2

 

CERTIFICATE
OF DESIGNATIONS

OF

SERIES A SENIOR CONVERTIBLE PREFERRED STOCK

OF

TALECRIS BIOTHERAPEUTICS
HOLDINGS CORP.

 

Talecris Biotherapeutics
Holdings Corp., a Delaware corporation (the “Corporation”), DOES HEREBY
CERTIFY:

 

That the
following resolution was duly adopted by the Board of Directors of the
Corporation (the “Board of Directors”) by written consent without a
meeting as of March 31, 2005 pursuant to authority conferred upon the
Board of Directors by the provisions of the Certificate of Incorporation of the
Corporation authorizing the Corporation to issue up to 10,000,010 shares of
Preferred Stock, par value $0.01 per share:

 

“BE IT
RESOLVED, that the issuance of a series of Preferred Stock of Talecris
Biotherapeutics Holdings Corp. (the “Corporation”) is hereby authorized,
and the designation, voting powers, privileges, preferences and relative,
participating, optional and other special rights, and qualifications,
limitations and restrictions thereof, of the shares of such series, in addition
to those set forth in the Certificate of Incorporation of the Corporation, are
hereby fixed as follows:

 

Section 1.                                          Designation.
The distinctive serial designation of such series is “Series A Senior
Convertible Preferred Stock” (“Series A Senior Convertible Preferred Stock”).
Each share of Series A Senior Convertible Preferred Stock shall be identical in
all  respects to every other share of
Series A Senior Convertible Preferred Stock.

 

Section 2.                                          Number of Shares. The number of
shares of Series A Senior Convertible Preferred Stock shall be 5,000,000. Such
number may from time to time be increased (but not in excess of the total
number of authorized shares of Preferred Stock) or decreased (but not below the
number of shares of Series A Senior Convertible Preferred Stock then outstanding)
by the Board of Directors. Shares of Series A Senior Convertible Preferred
Stock that are redeemed, purchased or otherwise acquired by the Corporation
shall be cancelled and shall revert to authorized but unissued shares of
Preferred Stock undesignated as to series.

 

Section 3.                                          Definitions. As used herein with
respect to Series A Senior Convertible Preferred Stock:

 

(a)                                  “Accrued
dividends,” with respect to any share of any class or series, means an
amount computed at the annual dividend rate, for the class or series, from the
date on which dividends on such share became cumulative to and

 

 

including the
date to which such dividends are to be accrued (whether or not such dividends
have been declared), less the aggregate amount of all dividends previously paid
on such share.

 

(b)                                 “Affiliate”
of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
such specified Person. For purposes of this definition, “control” (including,
with correlative meanings, the terms “controlling,” “controlled by” and “under
common control with”), as used with respect to any Person, shall mean the
possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of such Person, whether through the
ownership of voting stock, by agreement or otherwise; provided, however,
that beneficial ownership of 10% or more of the voting stock of a Person shall
be deemed to be control; provided, further, that none of Bayer
and its Affiliates shall be considered to be an Affiliate of the Corporation or
Parent or any of their respective subsidiaries.

 

(c)                                  “Ampersand”
means Ampersand 2001 Limited Partnership, a Delaware limited partnership.

 

(d)                                 “Bayer”
means Bayer HealthCare LLC, a Delaware limited liability company.

 

(e)                                  “Business
Day” means each Monday, Tuesday, Wednesday, Thursday or Friday on which
banking institutions in New York, New York are not authorized or obligated by
law, regulation or executive order to close.

 

(f)                                    “Cerberus”
means Cerberus Capital Management, L.P., a Delaware limited partnership.

 

(g)                                 “Common
Stock” means the Common Stock, par value $0.01 per share, of the
Corporation.

 

(h)                                 “Credit
Agreements” means the Credit Agreement, dated as of March 31, 2005, among
the Corporation, Talecris Biotherapeutics Inc., JPMorgan Chase Bank, N.A. and the other
lenders thereunder, and the Second Lien Credit Agreement, dated as of
March 31, 2005, among the Corporation, Talecris Biotherapeutics, Inc., Cerberus-Plasma
Holdings LLC and the other lenders thereunder.

 

(i)                                     “Deemed
Liquidation” means any of the events to which Section 5(d), (e) or (f)
applies.

 

(j)                                     “Junior
Secured Convertible Notes” means the Junior Secured Convertible Notes due
2013 of the Corporation.

 

2

 

(k)                                  “Junior
Stock” means the Common Stock, the Junior Preferred Stock and any other
class or series of stock of the Corporation hereafter authorized over which Series
A Senior Convertible Preferred Stock has preference or priority in the payment
of dividends or in the distribution of assets on any liquidation, dissolution
or winding up of the Corporation.

 

(l)                                     “Parity
Stock” means any other class or series of stock of the Corporation,
including the Series B Senior Convertible Preferred Stock, that ranks on a
parity with Series A Senior Convertible Preferred Stock in the payment of
dividends or in the distribution of assets on any liquidation, dissolution or
winding up of the Corporation.

 

(m)                               “Person”
means any corporation, partnership, limited liability company, trust, estate,
governmental entity, natural person or any other entity that is treated as a
person under applicable law.

 

(n)                                 “Series
B Senior Convertible Preferred Stock” means the Series B Senior Convertible
Preferred Stock, par value $0.01 per share, of the Corporation.

 

(o)                                 “Stockholders
Agreement” means the Stockholders Agreement dated as of March 31, 2005
among the Corporation, Talecris Holdings, LLC and Bayer and its affiliates
party thereto

 

Section 4.                                          Dividends.

 

(a)                                  Rate. The Series A Senior
Convertible Preferred Stock shall accrue, but only out of funds legally
available therefor, cumulative dividends at the annual rate of 10%, compounded quarterly,
on the Liquidation Preference (as defined in Section 5 below), payable in
cash only upon the earlier of the liquidation date pursuant to Section 5(a) or
conversion of the Series A Senior Convertible Preferred Stock pursuant to
Section 7, on a pro rata basis
with any Parity Stock; provided, however, that no such payment
shall be made in cash to the extent, but only to the extent, prohibited by the
Certificate of Designations for the Corporation’s Junior Preferred Stock or a
written contract or agreement (including the Stockholders Agreement) validly
binding on the Corporation entered into on or prior to the date of issuance of
the Series A Convertible Preferred Stock or, in the case of either of the
Credit Agreements, as either of such Credit Agreements may be amended, extended, renewed, refinanced or replaced. If and to the extent that the
payment of any dividends in cash is so prohibited, such payment shall be made
at the earliest time no longer so prohibited under such Certificate of
Designations or any such agreements. No interest, or sum of money in lieu of
interest, shall be payable in respect of any dividend payments on shares of Series
A Senior Convertible Preferred Stock which may be in arrears.

 

3

 

Section 5.                                          Liquidation
Rights.

 

(a)                                  Liquidation. In the event of any voluntary or
involuntary liquidation, dissolution or winding up of the affairs of the
Corporation or a Deemed Liquidation, holders of Series A Senior Convertible
Preferred Stock shall be entitled, before any distribution or payment out of
the assets of the Corporation may be made to or set aside for the holders of
any Junior Stock, and on a pro rata basis
with any Parity Stock, to receive in full $100.00 per share (the “Liquidation
Preference”), together with an amount equal to all accrued dividends to the
date of payment whether or not earned or declared. Such date of payment shall
be as promptly as legally permissible in the event of any voluntary or
involuntary liquidation, dissolution or winding up of the affairs of the
Corporation or, in the event of a Deemed Liquidation, within 45 days
thereafter.

 

(b)                                  Partial Payment. If the assets of the
Corporation are not sufficient to pay the Liquidation Preference (plus accrued
dividends to the date of payment whether or not earned or declared) in full to
all holders of Series A Senior Convertible Preferred Stock and all holders of
any Parity Stock, the amounts paid to the holders of Series A Senior
Convertible Preferred Stock and to the holders of all Parity Stock shall be pro rata in accordance with the
respective aggregate liquidation preferences of Series A Senior Convertible
Preferred Stock and all such Parity Stock.

 

(c)                                  Residual Distributions. If the Liquidation Preference
(plus accrued dividends to the date of payment whether or not earned or
declared) has been paid in full to all holders of Series A Senior Convertible
Preferred Stock and all holders of any Parity Stock, the holders of Junior
Stock shall be entitled to receive all remaining assets of the Corporation
according to their respective rights and preferences.

 

(d)                                  Merger or
Consolidation. For
purposes of this Section 5, the merger or consolidation of the Corporation with
any other corporation shall constitute a liquidation of the Corporation unless
(i) the Corporation is the surviving corporation following the merger or
consolidation and the rights of holders of Series A Senior Convertible
Preferred Stock are not adversely affected by such merger or consolidation or
(ii) if the Corporation is not the surviving corporation following the
merger or consolidation, the surviving corporation issues securities having
substantially identical rights and privileges to the Series A Senior
Convertible Preferred Stock in exchange for outstanding Series A Senior
Convertible Preferred Stock pursuant to the merger or consolidation.

 

(e)                                  Sale of Assets. For purposes of this Section
5, the sale of all or substantially all of the assets of the Corporation shall
constitute a liquidation of the Corporation.

 

(f)                                    Change of
Control. For
purposes of this Section 5, a Change of Control means any transaction or series
of related transactions after which (i) Cerberus, Ampersand and their
respective Affiliates collectively cease to own in the aggregate at least $50
million aggregate principal amount or liquidation preference of the Junior
Secured Convertible Notes and Series A Senior Convertible Preferred Stock (or,
if the

 

4

 

Junior Secured Convertible Notes and Series A
Senior Convertible Preferred Stock have been converted to Common Stock, 50% of
the Common Stock issuable upon conversion thereof), (ii) a majority of the
seats on the Board of Directors of the Corporation is occupied by Persons not
designated by Cerberus, Ampersand or their respective Affiliates and
(iii) another person or group of persons owns a greater amount, on a fully
diluted basis, of the Common Stock than the Common Stock owned by Cerberus,
Ampersand and their Affiliates collectively on a fully diluted basis.

 

Section 6.                                          Redemption.
The Series A Senior Convertible Preferred Stock shall not be redeemable at any
time.

 

Section 7.                                          Conversion
Rights. Each share of Series A Senior Convertible Preferred Stock shall be
convertible at the option of the holder thereof at any time into fully paid and
non-assessable shares of Common Stock of the Corporation (calculated as to each
conversion to the nearest 1/100th of a share) on and subject to the following
terms and conditions:

 

(a)                                  Conversion Rate. The conversion rate at which
shares of Series A Senior Convertible Preferred Stock shall be convertible into
Common Stock (the “Conversion Rate”) shall initially be nine shares of Common
Stock per share of Series A Senior Convertible Preferred Stock and shall be
adjusted in certain events as provided in Subsection (e) below.

 

(b)                                  Surrender of Certificates. In order to convert shares of Series
A Senior Convertible Preferred Stock into Common Stock the holder must
surrender, at the principal office of the Corporation or at such other office
as the Board of Directors may designate, the certificate or certificates for
the shares to be converted, duly endorsed or assigned either to the Corporation
or in blank, together with irrevocable written notice that such holder elects to
convert such shares. Such shares shall be deemed to be converted immediately
before the close of business on the date of such surrender, and the person or
persons entitled to receive the Common Stock issuable upon such conversion
shall be treated for all purposes as the record holder or holders of such
Common Stock at such time. As promptly as practicable on or after such date,
the Corporation shall issue and deliver at such office to the person or persons
entitled to receive the same a certificate or certificates for the number of
full shares of Common Stock issuable upon such conversion, together with
payment in lieu of any fraction of a share as provided in Subsection (d) and
together with payment in immediately available funds of all accrued dividends,
whether or not earned or declared, on the shares of Series A Senior Convertible
Preferred Stock so converted.

 

(c)                                  Fractional Shares. No fractional shares of Common
Stock shall be issued upon conversion of shares of Series A Senior Convertible
Preferred Stock, but instead of any fraction of a share that would otherwise be
issuable the Corporation shall pay an amount in cash equal to the same fraction
of the Closing Price (as defined in Subsection (l) below) on the date of
surrender of the certificate or certificates for such

 

5

 

shares for conversion, or, if such date is
not a Trading Day (as defined in Subsection (l) below), on the next Trading
Day.

 

(d)                                  Adjustment
of Conversion Rate. The Conversion Rate and the number and kind of shares
of capital stock or other property issuable on conversion shall be adjusted
from time to time as follows:

 

(i)                                    Stock Splits and Combinations. In case the Corporation shall
subdivide its outstanding Common Stock into a greater number of shares or
combine its outstanding Common Stock into a smaller number of shares, the Conversion
Rate in effect immediately before the time when such subdivision or combination
becomes effective shall be adjusted so that the holder of each share of Series
A Senior Convertible Preferred Stock converted thereafter shall be entitled to
receive the number of shares of Common Stock that such holder would have
received if such shares of Series A Senior Convertible Preferred Stock had been
converted immediately prior thereto at the Conversion Rate then in effect. Such
adjustment shall be made successively whenever any such event shall occur.

 

(ii)                                Stock Dividends in Common Stock. In case the Corporation shall
pay a dividend or make a distribution in shares of Common Stock on any class of
capital stock of the Corporation, the Conversion Rate in effect immediately before
the close of business on the record date fixed for determination of
stockholders entitled to receive such dividend or distribution  shall be increased by multiplying such Conversion
Rate by a fraction, of which the numerator is the sum of the number of shares
of Common Stock theretofore outstanding and the total number of shares issued
in such dividend or distribution, and the denominator is the number of shares
of Common Stock theretofore outstanding.

 

(iii)                            Sales of Common
Stock below Fair Market Value. In case the Corporation shall issue or grant to any person
(whether directly or by assumption in a merger or otherwise, other than upon a
Fundamental Change to which Section 7(d)(v) applies) (a) rights, warrants,
options, exchangeable securities or convertible securities (each referred to
herein as “Rights”) entitling such person to subscribe for or purchase
shares of Common Stock at a price per share less than the fair market value (as
determined by the Board of Directors, whose determination in good faith shall
be conclusive) (the “Fair Market Value”) or (b) shares of Common
Stock at a price per share less than the Fair Market Value, on the record date
fixed for the determination of persons entitled to receive such Rights or such
shares, the Conversion Rate in effect immediately before the close of business
on the record date fixed for such determination shall be adjusted by
multiplying such Conversion Rate by a fraction, of which (x) the numerator
shall be the number of shares of Common Stock outstanding (including all shares
of Common Stock issued or issuable upon conversion of any convertible security other
than the Series A Senior Convertible Preferred Stock or upon the exercise of

 

6

 

any rights, warrants
or options) at the close of business on such record date plus the number of
shares of Common Stock so offered for subscription or purchase pursuant to such
Rights, or so issued and (y) the denominator is the number of shares of Common
Stock outstanding (including all shares of Common Stock issued or issuable upon
conversion of any convertible security other than the Series A Senior
Convertible Preferred Stock or upon the exercise of any rights, warrants or
options) on such record date plus the number of shares of Common Stock which
the aggregate of the offering price of the total number of shares of Common
Stock so offered for subscription or purchase pursuant to such Rights, or so
issued, would purchase at the Fair Market Value on such record date. If, after
any such record date, any such Rights or shares are not in fact issued, or are
not exercised prior to the expiration thereof, the Conversion Rate shall be
immediately readjusted, effective as of the date such Rights or shares expire,
or the date the Board of Directors determines not to issue such Rights or
shares, to the Conversion Rate that would have been in effect if the
unexercised Rights had never been granted or such record date had not been
fixed, as the case may be. Such adjustment shall be made successively whenever
any such event shall occur. For the purposes of this paragraph, the aggregate
of the offering price received or to be received by the Corporation shall
include the maximum aggregate amount (if any) payable upon exercise or
conversion of such Rights. The value of any consideration received or to be
received by the Corporation, if other than cash, is to be determined by the Board
of Directors on a reasonable basis and in good faith. Notwithstanding the
foregoing, the Conversion Rate shall not be adjusted for Rights or shares of
Common Stock issued or granted (A) to the Corporation’s or its
subsidiaries’ employees, consultants, directors or officers pursuant to stock
option, stock purchase, restricted stock or similar equity or incentive-based
compensation plans or agreements approved by the Board of Directors,
(B) pursuant to the exercise, conversion or exchange of any then outstanding
convertible or exchangeable securities, rights, options or warrants or
(C) to lenders or purchasers of debt securities of the Corporation or
Talecris Holdings, LLC or their subsidiaries in connection with debt incurred
to such lenders or purchasers.

 

(iv)                               Distributions
of Indebtedness, Securities or Assets. In case the Corporation shall distribute to all holders of
Common Stock (whether by dividend or in a merger or consolidation or otherwise)
evidences of indebtedness, shares of capital stock of any class or series,
other securities, cash or assets (other than Common Stock, rights or warrants
referred to in paragraph (iii) above and other than as a result of a
Fundamental Change), the Conversion Rate in effect immediately before the close
of business on the date fixed for payment of such distribution shall be increased
by multiplying such Conversion Rate by a fraction, of which the numerator is the
Current Market Price (determined as provided in paragraph (vi) below) on such
payment date, and the denominator is such Current Market Price less the fair
market value (as determined by the Board of Directors, whose determination in
good faith shall be conclusive) of the portion of such

 

7

 

evidences of indebtedness,
shares of capital stock, other securities, cash and assets so distributed
applicable to one share of Common Stock, and the holder of each share of Series
A Senior Convertible Preferred Stock converted after the close of business on the
record date set for the distribution on the Common Stock and prior to the close
of business on such payment date shall be entitled to receive, for each share
of Common Stock received upon such conversion, the portion of such evidences of
indebtedness, shares of capital stock, other securities, cash and assets so
distributed applicable to one share of Common Stock; provided, however,
that, at the election of the Board of Directors, the Corporation may (x)
distribute to such holder a due bill therefor requiring payment or delivery not
later than such payment date or (y) pay to such holder an amount in cash equal
to such fair market value. In case the Board of Directors shall determine that
such fair market value of the portion of such evidences of indebtedness, shares
of capital stock, other securities, cash and assets so distributed applicable
to one share of Common Stock is equal to or greater than such Current Market
Price, in lieu of the foregoing adjustment, the holder of each share of Series
A Senior Convertible Preferred Stock converted after such record date shall
have the right to receive upon conversion the amount of such evidences of
indebtedness, shares of capital stock, other securities, cash and assets that
such holder would have received had such holder converted such share prior to
such record date. Such adjustment shall be made successively whenever any such
event shall occur. In case such distribution is not made after such a record
date has been fixed, the Conversion Rate shall be readjusted to the Conversion
Rate that would have been in effect if such record date had not been fixed.

 

(v)                                   Fundamental
Changes. In case any transaction or event (including without limitation any
merger, consolidation, sale of assets, tender or exchange offer,
reclassification, compulsory share exchange or liquidation) shall occur in
which all or substantially all outstanding Common Stock is converted into or
exchanged for stock, other securities, cash or assets (a “Fundamental Change”),
the holder of each share of Series A Senior Convertible Preferred Stock
outstanding immediately before such Fundamental Change becomes effective shall
have the right upon any subsequent conversion to receive (but only out of
legally available funds, to the extent required by applicable law) the kind and
amount of stock, other securities, cash and assets that such holder would have
received if such share had been converted immediately prior thereto; provided, however,
that if more than 50% of the value (as determined by the Board of Directors,
whose determination in good faith shall be conclusive) of such stock, other
securities, cash and assets consists of common stock of any corporation, such
holder shall have the right to receive such number of shares of such common
stock that such holder would have received if all of such value had consisted
solely of such common stock. The Corporation will not be a party to or permit
any Fundamental Change to occur unless the foregoing provisions are included in
the terms thereof. This paragraph shall similarly apply to any subsequent
Fundamental Change.

 

8

 

(vi)                               Current Market Price. For purposes of any
computation under paragraphs (iii) and (iv) above, the Current Market Price on
any date means the average of the daily Closing Prices (as defined in
Subsection (l) below) for the five consecutive Trading Days selected by the
Board of Directors commencing not more than 20 Trading Days before, and ending
not later than, the earlier of such date and the day before the record date
fixed for determination of stockholders entitled to receive any rights or
warrants referred to in paragraph (iii) and any distribution referred to in
paragraph (iv).

 

(vii)                           Deferral of Certain Conversions
Requiring Adjustment.
In any case in which this Subsection (e) requires that an adjustment as a
result of any event become effective from and after a record date, the
Corporation may elect to defer until after the occurrence of such event (A)
issuing to the holder of any shares of Series A Senior Convertible Preferred
Stock converted after such record date and before the occurrence of such event
the additional shares of Common Stock issuable upon such conversion over and
above the shares issuable on the basis of the Conversion Rate in effect immediately
before adjustment and (B) paying to such holder any amount in cash in lieu of a
fractional share of Common Stock pursuant to Subsection (d) above. In any such
case the Corporation shall issue or cause a transfer agent to issue due bills
or other appropriate evidence of the right to receive the shares the issuance
of which is so deferred.

 

(viii)                       Deferral of Small Adjustments. Any adjustment in the Conversion
Rate otherwise required by this Section 7 may be postponed until the date of
the next adjustment otherwise required to be made up to, but not beyond, one
year from the date on which it would otherwise be required to be made, if such
adjustment (together with any other adjustments postponed pursuant to this
paragraph (viii) and not theretofore made) would not require an increase or
decrease of more than 1% in such Conversion Rate and would not, if made,
entitle the holders of all then outstanding shares of Series A Senior
Convertible Preferred Stock upon conversion to receive additional shares of Common
Stock equal in the aggregate to one-tenth of one percent (0.1%) or more of the
then issued and outstanding shares of Common Stock. All calculations under this
Subsection (e) shall be made to the nearest cent or to the nearest 1/100th of a
share, as the case may be.

 

(ix)                              Provisions Applicable to Other
Classes of Stock.
In the event that at any time, as a result of an adjustment made pursuant to
paragraph (iv) or (v) above, the holder of any shares of Series A Senior
Convertible Preferred Stock becomes entitled to receive (but does not actually
receive) any shares of capital stock other than Common Stock of the
Corporation, the number and kind of such other shares so receivable shall
thereafter be subject to adjustment from time to time in a manner and on terms
as nearly equivalent as practicable to the provisions concerning the Common
Stock contained in paragraphs (i) through

 

9

 

(viii) above, and
the other provisions of this Subsection (e) concerning the Common Stock shall
apply on like terms to any such other shares.

 

(x)                                  Voluntary Reduction in Conversion
Rate. The Board
of Directors may make such reductions in the Conversion Rate, in addition to
those required by this Subsection (e), as shall be determined by the Board of
Directors to be advisable in order to avoid taxation insofar as practicable of
any dividend or distribution of stock or rights to acquire stock or any event
treated as such for Federal income tax purposes to the recipients. In addition,
the Board of Directors may from time to time reduce the Conversion Rate by any
amount for any period of at least 20 days if the reduction is irrevocable
during such period and the Board has determined in good faith that it is in the
best interest of the Corporation, and whenever the Conversion Rate is so
reduced, the Corporation shall mail to holders of record of Series A Senior
Convertible Preferred Stock, at least 15 days prior to the date such reduction
it is to take effect, a notice stating the reduced Conversion Rate and the
period it will be in effect.

 

(xi)                              Authority of Board of Directors. The Board of Directors shall
have the power to resolve any ambiguity or correct any error in this Subsection
(e), and its action in so doing shall be final and conclusive.

 

(e)                                  Notice of Conversion Rate
Adjustments. Whenever
the Conversion Rate is adjusted as herein provided:

 

(i)                                     The
Corporation shall compute and file with each transfer agent for the shares of Series
A Senior Convertible Preferred Stock the adjusted Conversion Rate in accordance
with this Section 7 and shall prepare a certificate signed by the Corporation’s
treasurer setting forth the adjusted Conversion Rate and showing in reasonable
detail the facts upon which such adjustment is based; and

 

(ii)                                  A
notice stating that the Conversion Rate has been adjusted and setting forth the
adjusted Conversion Rate shall be mailed as soon as practicable to the holders
of record of outstanding shares of Series A Senior Convertible Preferred Stock
at their respective last addresses appearing on the books of the Corporation.

 

(f)                                    Notice of Certain Events. In case:

 

(i)                                     The
Corporation declares a dividend or other distribution on its Common Stock;

 

(ii)                                  The
Corporation authorizes the issuance to the holders of its Common Stock of
rights or warrants entitling them to subscribe for or purchase any shares of
capital stock of any class or any other subscription rights or warrants;

 

10

 

(iii)                               Of
any reclassification of the capital stock of the Corporation (other than a
subdivision or combination of its outstanding shares of Common Stock), or of
any consolidation or merger to which the Corporation is a party and for which
approval of any stockholders of the Corporation is required, or of any sale,
transfer or other disposition of all or substantially all of the assets of the
Corporation or of any other transaction or event that would constitute or
result in a Fundamental Change; or

 

(iv)                              Of
the voluntary or involuntary liquidation, dissolution or winding up of the
Corporation;

 

then the
Corporation shall file with each transfer agent for the shares of Series A Senior
Convertible Preferred Stock and mail to the holders of record of outstanding
shares of Series A Senior Convertible Preferred Stock, at their respective last
addresses appearing on the books of the Corporation, at least 20 days (or 10
days in any case specified in paragraph (i) or (ii) above) before the
applicable record or effective date hereinafter specified, a notice stating (x)
the date as of which the holders of record of Common Stock to be entitled to
such dividend, distribution, rights or warrants are to be determined, or (y)
the date on which such reclassification, consolidation, merger, sale, transfer,
disposition, liquidation, dissolution or winding up or Fundamental Change is
expected to become effective, and the date as of which it is expected that
holders of record of Common Stock shall be entitled to exchange their shares
for securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer, disposition, liquidation, dissolution or
winding up or Fundamental Change. Failure to give notice as required by this
Subsection (g), or any defect in such notice, shall not affect the validity of
any such dividend, distribution, right, warrant, reclassification,
consolidation, merger, sale, transfer, disposition, liquidation, dissolution or
winding up or Fundamental Change, or the vote on any action authorizing such.

 

(g)                                 Reservation of Shares.

 

(i)                                    The Corporation shall at all
times reserve and keep available, free from preemptive rights, out of its
authorized but unissued Common Stock, solely for the purpose of issuance upon
conversion of shares of Series A Senior Convertible Preferred Stock, the full
number of shares of Common Stock then deliverable upon conversion of all shares
of Series A Senior Convertible Preferred Stock outstanding.

 

(ii)                                In the event that at any time
the Corporation shall have outstanding any shares of capital stock, debt
securities, or other instruments or rights that are convertible into, or
exercisable or exchangeable for, shares of Series A Senior Convertible
Preferred Stock, the Corporation shall at such time reserve and keep available,
free from preemptive rights, out of its authorized but unissued Series A Senior
Convertible Preferred Stock, the full number of shares of Series A Senior

 

11

 

Convertible
Preferred Stock then deliverable upon such conversion, exercise or exchange.

 

(h)                                 Transfer Taxes on Conversion. The Corporation shall pay any
and all taxes that may be payable in respect of the issuance or delivery of
shares of Common Stock on conversion of shares of Series A Senior Convertible
Preferred Stock pursuant hereto, other than any tax in respect of any transfer
involved in the issuance and delivery of shares of Common Stock in a name other
than that in which the shares of Series A Senior Convertible Preferred Stock so
converted were registered. No such issuance or delivery in a name other than
that in which the shares of Series A Senior Convertible Preferred Stock were
registered shall be made unless and until the person requesting such issuance
or delivery has paid to the Corporation the amount of any such tax or has
established to the satisfaction of the Corporation that such tax has been paid.

 

(i)                                    Definition of Common Stock. For purposes of this Section
7, “Common Stock” includes any stock of any class or series of the
Corporation which has no preference or priority in the payment of dividends or
in the distribution of assets in the event of any voluntary or involuntary
liquidation, dissolution or winding up of the Corporation. However, shares
issuable upon conversion of shares of Series A Senior Convertible Preferred
Stock shall include only shares of the class designated as Common Stock as of
the first date of issuance of shares of Series A Senior Convertible Preferred
Stock or shares of the Corporation of any classes or series resulting from any
reclassification or reclassifications thereof and that have no preference or
priority in the payment of dividends or in the distribution of assets in the
event of any voluntary or involuntary liquidation, dissolution or winding up of
the Corporation, provided that if at any time there shall be more than one such
resulting class or series, the shares of each such class and series then so
issuable shall be substantially in the proportion which the total number of
shares of such class and series resulting from all such reclassifications bears
to the total number of shares of all such classes and series resulting from all
such reclassifications.

 

(j)                                    Certificate of Independent
Accountants. The
certificate of any independent firm of public accountants of recognized
standing selected by the Board of Directors shall be presumptive evidence of
the correctness of any computation made under this Section 7.

 

(k)                                Definitions of Closing Price and
Trading Day. As
used in this Section 7, “Closing Price” on any day means the reported
last sale price per share of Common Stock regular way on such day or, in case
no such sale takes place on such day, the average of the reported closing bid
and asked prices regular way, in each case on the New York Stock Exchange, or,
if the Common Stock is not listed or admitted to trading on such Exchange, on
the American Stock Exchange, or, if the Common Stock is not listed or admitted
to trading on such Exchange, on the principal national securities exchange on
which the Common Stock is listed or admitted to trading, or, if the Common
Stock is not listed or admitted to trading on any national securities exchange,
the average

 

12

 

of the closing bid and asked prices in the
over-the-counter market as reported by the National Association of Securities
Dealers’ Automated Quotation System (“NASDAQ”), or, if not so reported,
as reported by the National Quotation Bureau, Incorporated, or its successor,
or, if not so reported, the average of the closing bid and asked prices as
furnished by any member of the National Association of Securities Dealers, Inc.
selected from time to time by the Corporation for that purpose. If on any such
date the shares of Common Stock are not listed or admitted for trading on any
national securities exchange or quoted by NASDAQ or a similar service, the
Current Market Price for the Common Stock shall be the fair market value of the
Common Stock on such date as determined in good faith by the Board of Directors
of the Corporation. “Trading Day” means a day on which the principal
national securities exchange on which the Common Stock is listed or admitted to
trading is open for the transaction of business or, if the Common Stock is not
listed or admitted to trading on any national securities exchange, a Monday,
Tuesday, Wednesday, Thursday or Friday on which banking institutions in New
York, New York are not authorized or obligated by law or executive order to
close.

 

Section 8.                                          Voting
Rights.

 

(a)                                  General. The holders of Series A Senior
Convertible Preferred Stock shall be entitled to ten votes for each share of
Common Stock into which their shares of Series A Senior Convertible Preferred
Stock are convertible and, except as hereinafter provided, shall vote together
with the holders of Parity Stock and Common Stock (and of any other class or
series that may similarly be entitled to vote with the holders of Common Stock)
as a single class on all matters on which holders of Common Stock are entitled
to vote.

 

(b)                                  Other Voting Rights. So long as any shares of Series
A Senior Convertible Preferred Stock are outstanding, in addition to any other
vote or consent of stockholders required by law or by the Certificate of
Incorporation, the vote or consent of the holders of at least a majority of the
shares of Series A Senior Convertible Preferred Stock at the time outstanding,
voting separately as a single class (subject to the proviso in this
Section 8(b)), given in person or by proxy, either in writing without a
meeting or by vote at any meeting called for the purpose, shall be necessary
for effecting or validating:

 

(i)                                    Amendment of Certificate of
Incorporation. Any
amendment, alteration or repeal of any provision of the Certificate of
Incorporation, this Certificate of Designations or By-laws of the Corporation (whether
by merger, consolidation, reclassification, combination or otherwise), or waive
any provisions thereof, in a manner that would adversely affect the rights,
preferences, privileges or powers of the Series A Senior Convertible Preferred
Stock, including any amendment of the Certificate of Incorporation to increase
or decrease (but not below the number of shares thereof then outstanding) the
authorized number of shares of the Preferred Stock, or to authorize or create,
or increase the authorized amount of, any shares of any class or series or any
securities convertible into shares of any class or series of capital stock of
the Corporation ranking on a parity

 

13

 

with Series A Senior
Convertible Preferred Stock and all such other series in the payment of
dividends or in the distribution of assets on any liquidation, dissolution or
winding up of the Corporation; provided,
however, that the
amendment of the Certificate of Incorporation so as to authorize or create, or
to increase the authorized amount of, any Junior Stock shall not be deemed to
affect adversely the powers, preferences or rights of the Series A Senior
Convertible Preferred Stock;

 

(ii)                                Authorization of Senior Stock. Any amendment or alteration of
the Certificate of Incorporation (including without limitation by merger,
consolidation, reclassification, combination or otherwise) to authorize or
create, or increase the authorized amount of, or obligate itself to authorize,
issue or increase the amount of, any shares of any class or series or any
securities convertible into or exchangeable for shares of any class or series
of capital stock of the Corporation ranking prior to or on parity with Series A
Senior Convertible Preferred Stock with respect to rights, privileges,
liquidation preferences, dividends or distributions; or

 

(iii)                            Certain Mergers and
Consolidations.
Any merger or consolidation of the Corporation with or into any entity other
than a corporation, or any merger or consolidation of the Corporation with or
into any other corporation unless the surviving or resulting corporation, or a
corporation controlling such corporation that issues shares or other securities
in such merger or consolidation, will thereafter have no class or series of
shares or other securities either authorized or outstanding ranking prior to Series
A Senior Convertible Preferred Stock in the payment of dividends or in the
distribution of assets on any liquidation, dissolution or winding up, except
the same number of shares and the same amount of other securities with the same
voting powers, preferences and special rights as the shares and securities of
the Corporation respectively authorized and outstanding immediately before such
merger or consolidation, and each share of Series A Senior Convertible
Preferred Stock outstanding immediately before such merger or consolidation is
changed thereby into the same number of shares, with the same voting powers,
preferences and special rights, of such corporation;

 

provided, however, that if any such amendment, alteration or repeal
would affect adversely the powers, preferences or rights of the Series A Senior
Convertible Preferred Stock and any other series of the Preferred Stock
similarly entitled to vote upon the matters specified herein in substantially
the same manner, it shall be sufficient if the holders of Series A Senior
Convertible Preferred Stock and all such other series so adversely affected
vote thereon together as a single class, regardless of series.

 

Section 9.                                          Certain Covenants. So long as any
shares of Series A Senior Convertible Preferred Stock are outstanding, in
addition to any other vote or consent of stockholders required by law or by the
Certificate of Incorporation, the vote or

 

14

 

consent of the holders of at
least a majority of the aggregate shares of Series A Senior Convertible
Preferred Stock and Series B Senior Convertible Preferred Stock at the time
outstanding, voting together as a single class on the basis of one vote for
each share of Common Stock into which shares of Series A Senior Convertible
Preferred Stock and Series B Senior Convertible Preferred Stock are
convertible, given in person or by proxy, either in writing without a meeting
or by vote at any meeting called for the purpose, shall be necessary for the
Corporation to:

 

(a)                                  (i) dissolve, liquidate or
wind-up the Corporation or carry out any partial liquidation or distribution or
any transaction in the nature of a partial liquidation or distribution, (ii)
reclassify or recapitalize any shares of the Corporation’s capital stock, (iii) directly
or indirectly, redeem, purchase, or otherwise acquire for value (including
through an exchange), or set apart money or other property for any redemption,
purchase or acquisition of, or other analogous fund for the redemption,
purchase, acquisition of, any Junior Stock or securities convertible into or
exchangeable for Junior Stock, other than the redemption of (A) shares of
Common Stock, par value $0.01 per share, of the Corporation pursuant to
Section 2.01(a) of the Stockholders Agreement and (B) shares of
Junior Preferred Stock, par value $0.01 per share, of the Corporation pursuant
to the Certificate of Designations for the Junior Preferred Stock or (iv) file
any voluntary bankruptcy petitions or consent to the filing of any such
bankruptcy petition or consent to the appointment of any receiver, custodian,
liquidator or trustee for the Corporation or any material portion of its properties;

 

(b)                                  acquire,
whether by way of asset purchase, recapitalization, merger, consolidation,
purchase of stock or otherwise, a controlling interest in any other person or
entity, or all or any substantial part of the assets of any other person or entity,
or any operating division or business line of any other person or entity, in
each case outside the ordinary course of business, except to the extent that
the aggregate value of the consideration paid (including without limitation
indebtedness assumed) in connection therewith, together with the aggregate
value of the consideration paid (including without limitation indebtedness
assumed) in connection with any related transaction, is less than $20,000,000;
or

 

(c)                                  convey,
sell, lease, assign, transfer, exchange or otherwise dispose of any of its
property, business or assets, or permit the conveyance, sale, lease,
assignment, transfer, exchange or other disposition of any property, business
or assets of any consolidated subsidiary of the Corporation, whether now owned
or hereafter acquired, for an aggregate value of consideration paid (including
without limitation indebtedness assumed) in excess of $20,000,000 in any one
transaction or series of related transactions, except for (i) the sale or other
disposition of any tangible or intangible personal property that has become
obsolete or worn out and is disposed of in the ordinary course of business,
(ii) the sale or other disposition of inventory made in the ordinary course of
business, (iii) capitalized leases and sale and leaseback transactions, (iv)
the license or sub-license of any intellectual property, or (v) the sale of the

 

15

 

Corporation
which is structured as a sale of all or substantially all of the assets of the
Corporation.

 

Section 10.                                   Other
Rights. The shares of Series A Senior Convertible Preferred Stock shall not
have any voting powers, preferences or relative, participating, optional or
other special rights, or qualifications, limitations or restrictions thereof,
other than as set forth herein or in the Certificate of Incorporation of the
Corporation.

 

Section 11.                                   Limitations
on Transfer. If any holder of Series A Senior Convertible Preferred Stock
(i) sells, assigns, transfers (voluntarily or involuntarily), exchanges (by
merger or otherwise) or otherwise disposes of or (ii) grants a lien,
encumbrance, pledge or other form of security interest in its interest in
(collectively, “Transfer”) all or a portion of the shares of Series A
Senior Convertible Preferred Stock held by it to any Person, then such holder
shall simultaneously Transfer to such Person a pro rata portion of the Junior
Secured Convertible Notes held by such holder. For purposes of this Section 11,
a “pro rata portion” of the Junior Secured Convertible Notes shall be
that principal amount (including capitalized interest) of the Junior Secured
Convertible Notes obtained by multiplying (A) the principal amount (including
capitalized interest) of the Junior Secured Convertible Notes  held by such holder immediately prior to such
Transfer by (B) a fraction, the numerator of which shall be the number of shares
of Series A Senior Convertible Preferred Stock held by such holder that is
subject to the proposed Transfer and the denominator of which shall be the total
number of shares of Series A Senior Convertible Preferred Stock then held by
such holder. The Series A Senior Convertible Preferred Stock is transferable
only in whole shares.

 

Section 12.                                   Restatement of Certificate. Upon
any restatement of the Certificate of Incorporation of the Corporation,
Sections 1 through 11 of this certificate of designations shall be included in Article
4 of the Amended and Restated Certificate of Incorporation under the heading “Series
A Senior Convertible Preferred Stock” and this Section 12 may be omitted. If
the Board of Directors so determines, the numbering of Sections 1 through 11
may be changed for convenience of reference or for any other proper purpose.”

 

16

 

IN WITNESS
WHEREOF, Talecris Biotherapeutics Holdings Corp. has caused this certificate to
be signed by Lawrence D. Stern, its President, this 31st day of March, 2005.

 

 

	
   

  	
  TALECRIS BIOTHERAPEUTICS

  
	
   

  	
  HOLDINGS CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
    /s/ Lawrence D. Stern

  	
   

  

 

 

CERTIFICATE OF AMENDMENT

OF

CERTIFICATE OF DESIGNATION

OF

SERIES A SENIOR CONVERTIBLE PREFERRED STOCK

OF

TALECRIS BIOTHERAPEUTICS HOLDINGS CORP.

 

Talecris
Biotherapeutics Holdings Corp., a corporation duly organized and existing under
the General Corporation Law of The State of Delaware (the “Corporation”), does
hereby certify that;

 

1.                                       The
Certificate of Designation of the Series A Senior Convertible Preferred Stock
of the Corporation, filed with the Secretary of State on March 31, 2005, in
hereby amended by adding the following new sentence to the end of Section 4(a)
thereof:

 

“Notwithstanding anything herein to the contrary, at any time prior to
January 31, 2007, the Board of Directors, or a duly authorized committee
thereof, is authorized to declare, and the Corporation is authorized to pay,
one or more dividends in an aggregate amount not to exceed $850 million on the
Series A Senior Convertible Preferred Stock and the Series B Senior Convertible
Preferred Stock.”

 

2.                                       The
foregoing amendment was duly adopted in accordance with the previsions of
Sections 242 and 228 (by the written consent of the sole stockholder of the
Corporation) of the Genera] Corporation Law of the State of Delaware,

 

IN WITNESS
WHEREOF, Wee: is Biotherapeutics Holdings Corp. has caused this Certificate to
be executed by a duly authorized officer on this         
day of                     ,
2006.

 

	
   

  	
  TALECRIS
  BIOTHERAPEUTICS HOLDING CORP

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ John
  F. Gaither, Jr.

  	
   

  
	
   

  	
   

  	
  Name: John F. Gaither, Jr.

  	
   

  
	
   

  	
   

  	
  Office: Executive Vice President

  	
   

  

 

 

CERTIFICATE OF SECOND AMENDEMENT

OF

CERTIFICATE OF DESIGNATION

OF

SERIES A SENIOR CONVERTIBLE PREFERRED STOCK

OF

TALECRIS BIOTHERAPEUTICS HOLDINGS CORP.

 

Talecris
Biotherapeutics Holdings Corp., a corporation duly organized and existing under
the General Corporation Law of the State of Delaware (the “Corporation”), does
hereby certify that:

 

The
Certificate of Designation of Series A Senior Convertible Preferred Stock of
the Corporation, filed with the Secretary of Sate on March 31, 2005, amended by
the Certificate of Amendment to the Certificate of Designation of Series A
Senior Convertible Preferred Stock of the Corporation, filed with the Secretary
of Sate on December 5, 2006, is hereby further amended by inserting the
following language at the end of Section 9(a)(iii) thereof, after the word “Stock”
and before the word “or”

 

“, and (C)
shares of Common Stock, par value $.01 pursuant to Section 2(h) of that certain
Asset Purchase Agreement by and Among IBR-BYR L.L.C., International
Bioresources, L.L.C., IBR Plasma Centers, L.L.C., Talecris Plasma Resources,
Inc. and Talecris Biotherapeutics Holdings Corp., dated November 18, 2006,”

 

The foregoing
amendment was duly adopted in accordance with the provisions of Sections 242
and 228 (by written consent of the sole stockholder of the Corporation) of the
General Corporation Law of the State of Delaware.

 

IN WITNESS
WHEREOF, Talecris Biotherapeutics Holdings Corp. has caused this Certificate of
Second Amendment to be executed by a duly authorized officer on this the 27th
day of February, 2007.

 

	
   

  	
  TALECRIS
  BIOTHERAPEUTICS HOLDINGS CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ John F. Gaither, Jr.

  	
   

  
	
   

  	
   

  	
  John F. Gaither, Jr., Executive Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]