Document:

exv4w1

 

EXHIBIT 4.1

FORM OF COMMON STOCK CERTIFICATE

					
	 	 	 	 	 
	NUMBER
	 	[GRAPHIC]
	 	SHARES

TOREADOR RESOURCES CORPORATION

INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

COMMON STOCK

CUSIP ___________

THIS CERTIFICATE IS TRANSFERABLE

IN NEW YORK, NEW YORK

AND JERSEY CITY, NEW YORK

THIS IS TO CERTIFY that:

is the owner of

FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF THE PAR VALUE OF 15 5/8 CENTS PER SHARE OF

TOREADOR RESOURCES CORPORATION transferable, except as set forth on the reverse
hereof, on the books of the Corporation by the holder hereof in person or by
duly authorized attorney upon surrender of this Certificate properly endorsed.

     A statement of the designations, preferences, privileges and voting
powers, and the restrictions or qualifications thereof, of the preferred stock
and common stock of the Corporation, as fixed by the Certificate of
Incorporation of the Corporation is set forth on the reverse hereof. This
Certificate and the shares represented hereby are issued and shall be held
subject to all provisions of the Certificate of Incorporation and the By-laws
of the Corporation, as amended, (copies of which are on file in the office of
the Transfer Agent), to all of which the holder, by the acceptance of this
certificate assents.

This Certificate is not valid unless countersigned by the
Transfer Agent and registered by the Registrar. WITNESS the
seal of the Corporation and the facsimile signatures of its duly
authorized officers.

Dated:

[CORPORATE SEAL]

	 	 	 	 	 
	 

	 	/s/ GERRY CARGILE
	 	/s/ G.T. Graves III
	 
	 	 	 	 
	

	 	Secretary
	 	President

 

 

TOREADOR RESOURCES CORPORATION

     The Corporation will furnish to the record holder of this certificate
without charge on written request to such corporation at its principal place of
business a full statement of the powers, designations, preferences and
relative, participating, optional or other special rights of each class of
stock or series thereof which such corporation is authorized to issue and the
qualifications, limitations or restriction of such preferences and/or rights.

     The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

	 	 	 	 	 
	TEN COM -

	 	as tenants in common
	 	UNIF GIFT MIN ACT —                     Custodian                    
	TEN
ENT  -

	 	as tenants by the entireties
	 	(Cust)                             (Minor)
	JT
TEN      -

	 	as joint tenants with right
	 	under Uniform Gifts to Minors
	

	 	of survivorship and not as
	 	Act                                                          
	

	 	tenants in common
	 	                                                 (State)

Additional abbreviations may also be used though not in the above list.

For Value Received,                                                                                                                                       hereby sell, assign and transfer
unto

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

Please print or typewrite
name and address including postal zip code of assignee

     
                                                                                                                     
                                                                                                                           
                                                                                                                           
                                                                   Shares of the Common Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint

   
                                                                                                                 
                                                                                                                     
                                                                                                                     
                                                                                                      

Attorney to transfer the
said stock on the books of the within-named Corporation with full
power of substitution in the premises.

Dated,                                                          

X                                                                            

(SIGNATURE)

NOTICE: THE SIGNATURE(S) TO THIS

ASSIGNMENT MUST CORRESPOND WITH

THE NAME(S) AS WRITTEN UPON
THE                à

FACE OF THE CERTIFICATE IN EVERY

PARTICULAR WITHOUT ALTERATION OR

ENLARGEMENT OR ANY CHANGE WHATEVER

X                                                                            

(SIGNATURE)

2

 

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE 

GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS 

AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH

MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE 

MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

                                                                            

SIGNATURE(S) GUARANTEED BY:

3<PAGE>

                                                                    EXHIBIT 10.1

                                 AMENDMENT NO. 1

                                     TO THE

                          AGREEMENT AND PLAN OF MERGER

      This Amendment No. 1 to the Agreement and Plan of Merger (this
"Amendment"), dated as of January 3, 2005, is by and among MIM Corporation, a
Delaware corporation ("Parent"), Chronimed Acquisition Corp., a Minnesota
corporation and direct wholly owned subsidiary of Parent ("Merger Sub"), and
Chronimed Inc., a Minnesota corporation (the "Company").

                                   WITNESSETH:

      WHEREAS, Parent, Corvette Acquisition Corp., a Delaware corporation and
direct wholly owned subsidiary of Parent ("Original Merger Sub"), and the
Company entered into that certain Agreement and Plan of Merger dated as of
August 9, 2004 (the "Merger Agreement");

      WHEREAS, Original Merger Sub and Merger Sub entered into an Assignment and
Assumption Agreement, dated as of January 3, 2005, pursuant to which Original
Merger Sub assigned, and Merger Sub assumed, all rights, interests and
obligations of Original Merger Sub in, to and under the Merger Agreement; and

      WHEREAS, each of Parent, Merger Sub and the Company desires to amend the
Agreement, pursuant to Section 10.2 of the Merger Agreement as set forth in this
Amendment.

      NOW, THEREFORE, in consideration of the foregoing and intending to be
legally bound hereby, the parties hereto agree as follows:

                                    AGREEMENT

      1. Amendment to Recital of Parties. The recital of parties to the Merger
Agreement is hereby amended (a) by deleting the phrase "(this `Agreement')" and
replacing it with the phrase "(as may be subsequently amended or modified, this
`Agreement')" and (b) by deleting the phrase "Corvette Acquisition Corp., a
Delaware corporation and direct wholly owned subsidiary of Parent" and replacing
it with the phrase "Chronimed Acquisition Corp., a Minnesota corporation and
direct wholly owned subsidiary of Parent".

      2. Amendment to Second "WHEREAS" Clause. The second "WHEREAS" clause to
the Merger Agreement is hereby amended by deleting the term "unanimously".

      3. Amendment to Section 1.1. Section 1.1 of the Merger Agreement is hereby
amended by deleting the phrase "the Delaware General Corporation Law (the
`DGCL') and".

                                       1
<PAGE>

      4. Amendment to Section 1.2. Section 1.2 of the Merger Agreement is hereby
amended in its entirety to read as follows:

            Section 1.2. Effective Time; Closing. As promptly as practicable
      (and in any event within five business days) after the satisfaction or
      waiver of the conditions set forth in Article VIII hereof (other than
      those conditions that by their nature are to be satisfied at the Closing),
      the parties hereto shall cause the Merger to be consummated by filing
      articles of merger with the Secretary of State of the State of Minnesota
      (the "Minnesota Articles of Merger") and by making all other filings or
      recordings required under the MBCA in connection with the Merger, in such
      form as is required by, and executed in accordance with the relevant
      provisions of, the MBCA. The Merger shall become effective upon the filing
      of the Minnesota Articles of Merger with the Minnesota Secretary of State,
      or at such other time as the parties hereto agree shall be specified in
      the Minnesota Articles of Merger (the date and time the Merger becomes
      effective, the "Effective Time"). On the date of such filing, a closing
      (the "Closing") shall be held at 10:00 a.m., Eastern Time, at the offices
      of King & Spalding LLP, 1185 Avenue of the Americas, New York, New York
      10036, or at such other time and location as the parties hereto shall
      otherwise agree.

      5. Amendment to Section 1.3. Section 1.3 of the Merger Agreement is hereby
amended by deleting the phrase "the DGCL,".

      6. Amendment to Section 1.4. Section 1.4 of the Merger Agreement is hereby
amended in its entirety to read as follows:

            Section 1.4. Articles of Incorporation and Bylaws.

            (a) At the Effective Time, the articles of incorporation of the
      Company, as in effect immediately prior to the Effective Time, shall be
      the articles of incorporation of the Surviving Corporation, until the same
      shall thereafter be altered, amended or repealed in accordance with
      applicable Law (as defined in Section 3.3 hereof) or such articles of
      incorporation of the Surviving Corporation.

            (b) At the Effective Time, the bylaws of the Company, as in effect
      immediately prior to the Effective Time, shall be the bylaws of the
      Surviving Corporation, until the same shall thereafter be altered, amended
      or repealed in accordance with applicable Law, the articles of
      incorporation of the Surviving Corporation or such bylaws of the Surviving
      Corporation.

      7. Amendment to Section 2.1(a). Section 2.1(a) of the Merger Agreement is
hereby amended by deleting the number "1.025" and replacing it with the number
"1.12".

      8. Amendment to Section 4.2. Section 4.2 of the Merger Agreement is hereby
amended in its entirety to read as follows:

            Section 4.2. Directors and Officers.

            (a) As of the date of this Agreement, the Parent Board is composed
      of nine directors. Prior to the mailing by Parent and the Company of the
      Joint Proxy

                                       2
<PAGE>

      Statement/Prospectus (as defined in Section 7.9 hereof), Parent shall
      designate five directors (consisting of Richard A. Cirillo, Charlotte W.
      Collins, Louis T. DiFazio, Richard H. Friedman and Martin Kooper) to
      remain on the Parent Board after the Effective Time, and the Parent Board
      shall take action to increase size of the Parent Board to ten directors
      and to appoint (i) four individuals designated by the Company (consisting
      of Henry F. Blissenbach, Myron Z. Holubiak, David R. Hubers and Stuart A.
      Samuels) to the Parent Board as of the Effective Time, and (ii) one
      individual who was not previously affiliated with either Parent or the
      Company who will be designated by Parent in consultation with the Company
      (consisting of Richard L. Robbins) to the Parent Board as of the Effective
      Time. The remaining directors of Parent not designated to remain on the
      Parent Board after the Effective Time shall resign from the Parent Board
      as of the Effective Time. In addition, Parent and the Company shall each
      designate (A) two directors (each of whom shall satisfy the relevant
      independence requirements of the NMS Continued Listing Standards (the "NMS
      Standards") and the Exchange Act) to serve on the audit committee of the
      Parent Board (the "Audit Committee") after the Effective Time; (B) two
      directors (each of whom shall satisfy the relevant independence
      requirements of the NMS Standards and the Code) to serve on the
      compensation committee of the Parent Board (the "Compensation Committee")
      after the Effective Time; (C) two directors (each of whom shall satisfy
      the relevant independence requirements of the NMS Standards) to serve on
      the nominating committee of the Parent Board (the "Nominating Committee")
      after the Effective Time; and (D) one director (who shall satisfy the
      relevant independence requirements of the NMS Standards, the Exchange Act
      and the Code) to serve, together with the Chairman of the Board and the
      Chief Executive Officer/President, on the executive committee of the
      Parent Board (the "Executive Committee") after the Effective Time (so that
      there will be four members of each committee). The remaining members of
      the Audit Committee, the Compensation Committee, the Nominating Committee
      and the Executive Committee not designated to remain on such committees
      after the Effective Time shall resign therefrom as of the Effective Time.
      Parent does not have any other committees or subcommittees of the Parent
      Board as of the date of this Agreement and shall not form or reinstate any
      other committee or subcommittee of the Parent Board prior to the Effective
      Time.

            (b) As of and following the Effective Time until the Parent Board
      determines otherwise, Richard H. Friedman shall be the Chairman of the
      Parent Board, Henry F. Blissenbach shall be the President and Chief
      Executive Officer of Parent, Gregory H. Keane shall be the Chief Financial
      Officer of Parent, Barry A. Posner shall be the Executive Vice President,
      Secretary and General Counsel of Parent, and each of Alfred Carfora, Brian
      Reagan and Anthony J. Zappa shall be an Executive Vice President of
      Parent.

      9. Amendment to Section 4.3. Section 4.3 of the Merger Agreement is hereby
amended in its entirety to read as follows:

      From and after the Effective Time, the corporate headquarters of Parent
      shall be in Elmsford, New York, and the business headquarters of Parent
      shall be in Minneapolis, Minnesota, each until determined otherwise, if
      ever, by the Parent Board.

                                       3
<PAGE>

      10. Amendment to Section 5.3(a). Section 5.3(a) of the Merger Agreement is
hereby amended by deleting the phrase "Parent Stock Option Plans" and replacing
it with the phrase "MIM Corporation 2001 Incentive Stock Plan, the MIM
Corporation 1996 Incentive Stock Plan and the MIM Corporation 1996 Non-Employee
Directors Stock Incentive Plan".

      11. Amendment to Section 5.4(a). Section 5.4(a) of the Merger Agreement is
hereby amended in its entirety to read as follows:

            (a) Each of Parent and Merger Sub has all necessary corporate power
      and authority to execute and deliver this Agreement, to perform its
      obligations hereunder and, subject to obtaining the Parent Required
      Approvals (as defined in Section 5.4(d) hereof), to consummate the Merger
      and the other transactions contemplated by this Agreement. The execution,
      delivery and performance by Parent and Merger Sub of this Agreement, and
      the consummation by each of them of the transactions contemplated by this
      Agreement have been duly authorized by all necessary corporate action
      (including the approval of the Parent Board) and no other corporate
      proceedings on the part of Parent or Merger Sub are necessary to authorize
      this Agreement or to consummate the Merger or the other transactions
      contemplated by this Agreement (other than obtaining the Parent Required
      Approvals and the filing and recordation of appropriate merger documents
      as required by the MBCA). This Agreement has been duly executed and
      delivered by Parent and Merger Sub and, assuming the due authorization,
      execution and delivery by the Company, constitutes a legal, valid and
      binding obligation of each of them enforceable against them in accordance
      with its terms, except that such enforceability (i) may be limited by
      bankruptcy, insolvency, fraudulent transfer, moratorium or other similar
      laws of general application affecting or relating to the enforcement of
      creditors' rights generally and (ii) is subject to general principles of
      equity, whether considered in a proceeding at law or in equity (the
      "Bankruptcy and Equity Exception").

      12. Amendment to Section 5.4(b). Section 5.4(b) of the Merger Agreement is
hereby amended in its entirety to read as follows:

            (b) At a meeting duly called and held, the Parent Board and the
      Merger Sub Board (i) determined that this Agreement and the other
      transactions contemplated hereby, including the Merger, are advisable and
      fair to and in the best interests of Parent and the stockholders of
      Parent, (ii) unanimously approved this Agreement and the transactions
      contemplated hereby, including the Merger, and (iii) resolved to recommend
      approval of the matters constituting the Parent Required Approvals by
      Parent's stockholders. The actions taken by the Parent Board constitute
      approval of the Merger, this Agreement and the other transactions
      contemplated hereby by the Parent Board under the provisions of Section
      203 of the Delaware General Corporation Law (the "DGCL") such that Section
      203 of the DGCL does not apply to this Agreement, the Merger or the
      transactions contemplated thereby.

      13. Amendment to Section 5.4(d). Section 5.4(d) of the Merger Agreement is
hereby amended in its entirety to read as follows:

                                       4
<PAGE>

            (d) The affirmative vote of the holders of a majority of the shares
      of Parent Common Stock present in person or represented by proxy and
      entitled to vote at the Parent Stockholder Meeting, assuming there is a
      quorum represented at such meeting, is the only vote of the holders of any
      class or series of Parent's capital stock necessary to approve the
      issuance of shares of Parent Common Stock in the Merger, and the
      affirmative vote of the holders of a majority of the shares of Parent
      Common Stock outstanding on the record date for such meeting is the only
      vote of the holders of any class or series of Parent's capital stock
      necessary to approve the amendment of the Parent Certificate of
      Incorporation (collectively, the "Parent Required Approvals"). Except for
      the Parent Required Approvals, no vote of the holders of any class or
      series of Parent's capital stock is necessary to approve the Merger or any
      of the other transactions contemplated hereby.

      14. Amendment to Section 5.5. Section 5.5 of the Merger Agreement is
hereby amended by deleting clause (i) thereof and replacing it with the
following:

      (i) conflict with or violate the Parent Certificate of Incorporation or
      the Parent Bylaws or the articles of incorporation or bylaws of Merger
      Sub,

      15. Amendment to Section 5.6. Section 5.6 of the Merger Agreement is
hereby amended by deleting the term "DGCL" and replacing it with the term
"MBCA".

      16. Amendment to Section 5.7(b). Section 5.7(b) of the Merger Agreement is
hereby amended by deleting the phrase "(the `Parent Compliance Program')".

      17. Amendment to Section 5.8(a). Section 5.8(a) of the Merger Agreement is
hereby amended by deleting the phrase "Sarbanes-Oxley Act" in the third sentence
and replacing it with the phrase "Sarbanes-Oxley Act of 2002 (the
`Sarbanes-Oxley Act')".

      18. Amendment to Section 5.8(i). Section 5.8(i) of the Merger Agreement is
hereby amended by adding the word "the" before the phrase "Sarbanes Oxley Act".

      19. Amendment to Section 6.3(d). Section 6.3(d) of the Merger Agreement is
hereby amended in its entirety to read as follows:

            (d) The vote of a majority of the voting power of the shares of
      Company Common Stock outstanding on the record date for the Company
      Stockholder Meeting is the only vote of the holders of any class or series
      of the Company's capital stock necessary to approve this Agreement, the
      Merger and the other transactions contemplated hereby.

      20. Amendment to Section 6.6(b). Section 6.6(b) of the Merger Agreement is
hereby amended by deleting the phrase "(the `Company Compliance Program')".

      21. Amendment to Section 6.22. Section 6.22 of the Merger Agreement is
hereby amended by deleting the phrase "Section 7.8" and replacing it with the
phrase "Section 7.9(e)".

      22. Amendment to Section 7.5(b). Section 7.5(b) of the Merger Agreement is
hereby amended by inserting the phrase "of the Merger and this Agreement"
immediately prior to the phrase "(a `Company Subsequent Determination')".

                                       5
<PAGE>

      23. Amendment to Section 7.6(a). Section 7.6(a) of the Merger Agreement is
hereby amended by deleting the third sentence in its entirety and replacing it
with the following sentence:

      Parent shall continue to keep the Company informed of the status and
      details of any such Parent Acquisition Proposal.

      24. Amendment to Section 7.6(b). Section 7.6(b) of the Merger Agreement is
hereby amended by deleting the first two sentences and replacing them with the
following:

      Neither the Parent Board nor any committee thereof shall, except as
      expressly permitted by this Section 7.6(b), (i) withdraw, qualify or
      modify, or propose publicly to withdraw, qualify or modify, in a manner
      adverse to the Company, the approval or recommendation of the Parent Board
      or any committee of the Parent Board of the issuance of shares of Parent
      Common Stock in the Merger and the amendment of the Parent Certificate of
      Incorporation in connection with the Merger, (ii) approve or recommend, or
      propose publicly to approve or recommend, any transaction involving a
      Parent Acquisition Proposal from a third party (a "Parent Alternative
      Transaction"), (iii) cause or permit Parent to enter into any letter of
      intent, agreement in principle, acquisition agreement or other similar
      agreement related to any Parent Alternative Transaction, or (iv) agree or
      resolve to agree to take any actions set forth in clauses (i), (ii) or
      (iii) of this sentence. Notwithstanding the foregoing, if prior to the
      Parent Stockholders Meeting at which the issuance of shares of Parent
      Common Stock in the Merger and the amendment of the Parent Certificate of
      Incorporation in connection with the Merger are approved, the Parent Board
      determines in good faith that it is required to do so in order to comply
      with its fiduciary duties to Parent's stockholders under applicable Law,
      after it has received a Parent Superior Proposal in compliance with
      Section 7.6(a) and after consultation with and having considered the
      advice of independent outside counsel with respect to its fiduciary duties
      to Parent's stockholders under applicable Law, the Parent Board may inform
      Parent's stockholders that it no longer believes that the Merger is
      advisable and no longer recommends approval of the issuance of shares of
      Parent Common Stock in the Merger and the amendment of the Parent
      Certificate of Incorporation in connection with the Merger (a "Parent
      Subsequent Determination"), but only at a time after the fifth business
      day following the Company's receipt of written notice advising the Company
      that the Parent Board is prepared to so inform Parent stockholders.

      25. Amendment to Section 7.9(b). Section 7.9(b) of the Merger Agreement is
hereby amended by deleting the second sentence in its entirety and replacing it
with the following sentence:

      The Company shall submit this Agreement, the Merger and any other matters
      constituting the required approval to the Company's shareholders at the
      Company Stockholders Meeting and shall use its reasonable efforts to
      obtain the required approval of the Company's shareholders and the Company
      Board shall, subject to Section 7.5, recommend approval and adoption of
      this Agreement and approval of the Merger by the shareholders of the
      Company.

                                       6
<PAGE>

      26. Amendment to Section 7.9(c). Section 7.9(c) of the Merger Agreement is
hereby amended in its entirety to read as follows:

            (c) Parent shall, as promptly as practicable following the execution
      of this Agreement, duly call, give notice of, convene and hold the Parent
      Stockholders Meeting for the purpose of obtaining the Parent Required
      Approvals. Parent shall submit the matters constituting the Parent
      Required Approvals to Parent's stockholders at the Parent Stockholders
      Meeting and shall use its reasonable efforts to obtain the required
      approval of Parent's stockholders, and the Parent Board shall recommend
      approval by the stockholders of Parent of the matters constituting the
      Parent Required Approvals. Without limiting the generality of the
      foregoing, Parent agrees that its obligations pursuant to the first two
      sentences of this Section 7.9(c) shall not be affected by (i) the
      commencement, public proposal, public disclosure or communication to
      Parent or any other person of any Parent Acquisition Proposal or Parent
      Superior Proposal or (ii) the withdrawal or modification by the Parent
      Board or any committee thereof of such Board's or committee's approval or
      recommendation of the matters constituting the Parent Required Approvals.

      27. Amendment to Section 7.9(f). Section 7.9(f) of the Merger Agreement is
hereby amended in its entirety to read as follows:

            (f) Merger Sub shall submit this Agreement to Parent, as the sole
      stockholder of Merger Sub, for adoption and approval. Upon such
      submission, Parent, as sole stockholder of Merger Sub, shall adopt this
      Agreement and approve the transactions contemplated by this Agreement by
      unanimous written consent in lieu of a meeting in accordance with the
      requirements of the MBCA and the articles of incorporation and bylaws of
      Merger Sub.

      28. Amendment to Section 7.10(c). Section 7.10(c) of the Merger Agreement
is hereby amended by deleting the term "plans" and replacing it with the term
"plan".

      29. Amendment to Section 7.11(a). Section 7.11(a) of the Merger Agreement
is hereby amended in its entirety to read as follows:

            (a) Parent shall assume the Company Stock Option Plans in connection
      with the conversion of Company Options into options to purchase Parent
      Common Stock pursuant to Section 2.4 of this Agreement. No options to
      purchase Company Common Stock shall be granted under any Company Stock
      Option Plan after the Effective Time. No shares of Parent Common Stock
      shall be issued upon the exercise of any Company Option granted under any
      Company Option Plan, except for Company Options assumed pursuant to
      Section 2.4.

      30. Amendment to Section 8.1(a). Section 8.1(a) of the Merger Agreement is
hereby amended in its entirety to read as follows:

            (a) This Agreement and the Merger shall have been approved and
      adopted by the requisite vote of the Company's shareholders under the
      MBCA, the NMS Standards, the Company Articles of Incorporation and the
      Company Bylaws,

                                       7
<PAGE>

      and the Parent Required Approvals shall have been obtained by the
      requisite vote of Parent's stockholders under the DGCL, the NMS Standards,
      the Parent Certificate of Incorporation and the Parent Bylaws;

      31. Amendment to Section 8.1(f). Section 8.1(f) of the Merger Agreement is
hereby amended by deleting the phrase "Section 8.4(f)" and replacing it with the
phrase "Section 8.1(f)".

      32. Amendment to Section 9.1(c). Section 9.1(c) of the Merger Agreement is
hereby amended by deleting the date "December 31, 2004" and replacing it with
the date "April 30, 2005".

      33. Amendment to Section 9.1(d). Section 9.1(d) of the Merger Agreement is
hereby amended by (a) deleting the phrase "(i) if" and replacing it with the
phrase "if (i)" and (b) deleting the phrase "this Agreement or the Merger" in
clause (ii) thereof and replacing it with the phrase "the matters constituting
the Parent Required Approvals".

      34. Amendment to Section 9.1(f). Section 9.1(f) of the Merger Agreement is
hereby amended by deleting the phrase "Parent's stockholders, or the issuance of
stock in the Merger" and replacing it with the phrase "the matters constituting
the Parent Required Approvals".

      35. Amendment to Section 10.6. Section 10.6 of the Merger Agreement is
hereby amended by deleting the phrase "and the DGCL".

      36. Amended to Section 10.11(d). Section 10.11(d) of the Merger Agreement
is hereby amended in its entirety to read as follows:

            (d) For purposes of this Agreement, the phrases "to the knowledge of
      Parent," "known to Parent," and similar formulations shall mean the actual
      knowledge of Richard H. Friedman, Alfred Carfora, James S. Lusk (but only
      with respect to matters actually known by him on or prior to the date of
      termination of his employment with Parent), Juliet A. Palmer, Barry A.
      Posner, Russel J. Corvese or Michael J. Sicilian (but only with respect to
      matters actually known by him on or prior to the date of termination of
      his employment with Parent).

      37. Amendment to Section 10.11(e). Section 10.11(e) of the Merger
Agreement is hereby amended in its entirety to read as follows:

            (e) For purposes of this Agreement, the phrases "to the knowledge of
      the Company," "known to the Company," and similar formulations shall mean
      the actual knowledge of Henry F. Blissenbach, Gregory H. Keane, Anthony J.
      Zappa, Kenneth S. Guenthner, Thomas A. Staloch, Brian J. Reagan or Colleen
      M. Haberman.

      38. Full Force and Effect. Except as expressly modified by this Amendment,
all of the terms and provisions of the Agreement remain in full force and
effect.

      39. Counterparts. This Amendment may be executed in two or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same agreement.

                                       8
<PAGE>

      40. Headings. The descriptive headings contained in this Amendment are
inserted for convenience only and shall not affect in any way the meaning or
interpretation of this Amendment.

      41. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York, without regard to principles
of conflicts of law thereof.

                            [SIGNATURE PAGE FOLLOWS]

                                       9
<PAGE>

      IN WITNESS WHEREOF, Parent, Merger Sub and the Company have caused this
Amendment to be executed as of the date first written above by their respective
officers thereunto duly authorized.

                                                   MIM CORPORATION

                                                   By /S/ Richard H. Friedman
                                                      --------------------------
                                                      Richard H. Friedman
                                                      Chief Executive Officer

                                                   CHRONIMED ACQUISITION CORP.

                                                   By /S/ Richard H. Friedman
                                                      --------------------------
                                                      Richard H. Friedman
                                                      Chief Executive Officer

                                                   CHRONIMED INC.

                                                   By /S/ Henry F. Blissenbach
                                                      --------------------------
                                                      Henry F. Blissenbach
                                                      Chief Executive Officer

Acknowledged and Agreed as of the
date first first above written:

CORVETTE ACQUISITION CORP.

By /S/ Richard h. Friedman
   ---------------------------
   Richard H. Friedman
   Chief Executive Officer

                                       10

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