Document:

Exhibit 4.2

Exhibit 4.2

STOCK OPTION AGREEMENT

        THIS AGREEMENT is made as of December 15, 2004 between and among MINRAD
INTERNATIONAL, INC., a Nevada corporation (the "Company"), MINRAD INC., a
Delaware corporation ("Minrad"), CAGAN MCAFEE CAPITAL PARTNERS, LLC ("CMCP"),
LIVIAKIS FINANCIAL COMMUNICATIONS, INC ("LFC"), LAIRD Q. CAGAN ("Cagan"), ERIC
MCAFEE ("McAfee"), and TOBIN FAMILY TRUST ("Tobin Trust"), (LFC, Cagan, McAfee,
and Tobin Trust being referred to collectively as the "Shareholders").

Factual Background

        1.     The Company, Minrad, CMCP, and the Shareholders other than LFC are parties
to a Merger Agreement and Plan of Exchange, dated July 15, 2004, and an
Amendment thereto dated August 24, 2004 (collectively, the "Merger Agreement").
Section 3(d)(7) of the Merger Agreement provides for the escrow of up to an
aggregate of up to 2,402,500 shares of the Company owned by the Shareholders
with an independent escrow agent, which shares would be held as security for the
Company pending the completion of placements of an aggregate of up to $7.7
million of equity funding by CMCP and its affiliates (including Chadbourn
Securities, Inc. ("Chadbourn")) for Minrad and the Company under the terms of an
Engagement Letter, dated December 1, 2003, between CMCP and Minrad (the
"Engagement Letter").

        2.     The parties desire to dispense with the use of an escrow and an
independent escrow agent that are provided for in the Merger Agreement. Instead,
they desire to have the Company hold the shares that would have been subject to
escrow subject to this Option Agreement.

        3.     Under the Merger Agreement, the number of Security Shares to be escrowed
was 5,000,000 times One (1) minus the quotient of (a) the aggregate dollar value
of equity funding theretofore placed by Chadbourn and its affiliates for Minrad
and the Company, divided by (b) 7.7 million (that is, the dollar amount of
equity funding commitment under the Engagement Letter). As of the time of this
Agreement, CMCP's affiliates, including Chadbourn, have placed an aggregate of
$5,538,160 of equity funding for Minrad and the Company (the "Completed
Funding"), the amount remaining to be funded is $2,161,840, and the aggregate
number of shares that would have been subject to escrow under the Engagement
Letter is 1,403,379 (the "Security Shares").

AGREEMENT

                NOW, THEREFORE, intending to be bound, and in consideration of the premises
and the mutual covenants contained herein, the parties agree as follows:

    
    1.     Effective Time. 

    

    This Option Agreement is entered into and becomes effective immediately
    after the Closing described under the Merger Agreement.

    
    
    
2.     Delivery of Security Shares.

    
    At the effective time of this Option Agreement, each of the Shareholders
    is delivering the number of shares of Company common stock set opposite his
    name to held by the Company for so long as the option provided for in
    Section 3 remains in effect.

     

  	Shareholder                    
      	Number of Shares 
	LFC                                
      	262,216
	Cagan                                
      	317,585
	McAfee 	317,585
	Tobin Trust 	506,406
		 
	TOTAL: 	1,403,792

    
    3.     Grant of Options. 

    

    Each of the Shareholders hereby grants an option to the Company to purchase
    from the respective Shareholder up to the number of Security Shares set
    opposite that Shareholder's name in Section 2, under the terms of this
    Option Agreement (the "Options").

    
    4.     Option Exercise Price. 

    

    The purchase price of the Security Shares under each of the Options shall be
    $0.0001 per share.

    5.     Conditions to Exercisability. 

    Each Option will become
    exercisable if Chadbourn and its affiliates fail to obtain, prior to April
    30, 2005 (the "Option Exercisable Date"), an aggregate equity funding of
    $7.7 million for the Company and Minrad under the terms of the Engagement
    Letter. If the Options become exercisable, they will (a) become exercisable
    on the Option Exercisable Date, and (b) be exercisable for the total of each
    Shareholder's Security Shares reduced by a percentage that reflects the
    amount of additional aggregate equity funding placed by Chadbourn and its
    affiliates for the Company and Minrad after the date of this Option
    Agreement and prior to the Option Exercisable Date (the "Additional
    Funding"). Accordingly, if the Options become exercisable, they will become
    exercisable for a percentage of each Shareholder's Security Shares that is
    equal to One (1) minus the quotient of (a) the amount of Additional Funding,
    divided by (b) 2,161,840. 

6.     Period That Options will be Exercisable. 

	 	a.	If the Options become exercisable, each of the
    Options will expire with respect to the Shares offered under that Option on
    the second anniversary of the Option Exercisable Date.

-2-

	 	 	 
	 	b.	If Chadbourn and its affiliates complete an
    aggregate of $7.7 million of equity funding for Minrad and the Company (that
    is, $2,161,840 of Additional Funding) before the Option Exercisable Date,
    then the Options shall promptly terminate, and the Company shall return all
    of the Security Shares to the Shareholders as soon as possible after the
    determination that Chadbourn and its affiliates have completed the funding.

7.     Exercise of Options. 

	 	a.	Each Option shall be exercised with respect to
    that portion or all of the Option that shall have become exercisable in the
    following manner. The Company shall deliver to each respective Shareholder a
    written notice specifying the amount of Additional Funding completed prior
    to the Exercise date, the percentage of that Shareholders Security Shares
    being purchased by the Company under the Option, and the amount of Security
    Shares, if any, as to which the Option is not exercisable and that the
    Company will return to the Shareholder. The Company will include with such
    notice full payment of the exercise price for the Security Shares being
    purchased pursuant to such notice.
	 	 	 
	 	b.	The Company will not be deemed to be a holder
    of any Security Shares pursuant to exercise of an Option until the date of
    the notice of exercise provided for under (a) above has been delivered to
    the Shareholder.

8.     Adjustments to Options.

    If the outstanding shares of common stock subject to the Options are
    hereafter changed into or exchanged for a different number or kind of shares
    or other securities of the Company, or of another corporation by reason of
    reorganization, merger, consolidation, recapitalization, reclassification,
    stock split, stock dividend or combination of shares, then appropriate
    adjustments shall be made in the number and kind of shares as to which the
    Options shall be exercisable, to the end that after any such event, the
    Company's proportionate interest shall be maintained as before the event.
    Such adjustment in the Options shall be made without change in the total
    price applicable to any unexercised portion of the Options (except for any
    change in the aggregate price resulting form rounding-off share quantities
    or prices) and with any necessary corresponding adjustment in the option
    price per share. Any such adjustment made by the Company will be final and
    binding upon the Shareholder, the Company and all other interested parties.

9. Notices.

-3-

 

Any notice to be given hereunder shall be in writing and shall be deemed
given when delivered personally, sent by courier or telecopy or registered or
certified mail, postage prepaid, return receipt requested, addressed to the
party concerned at the address indicated below or to such other address as such
party may subsequently give notice of hereunder in writing:

	
    If to the Company or MINRAD:
	
    with a copy to:

	
     
	
     

	
    MINRAD INC.
	
    Robert B. Fleming, Esq.

	
    847 Main Street
	
    Hodgson Russ LLP

	
    Buffalo, New York 14203
	
    One M&T Plaza, Suite 2000

	
    Attn: William H. Burns
	
    Buffalo, New York 14203

	
    President and Chief Executive Officer
	
    Facsimile: 716-849-0349

	
    Facsimile: 716-855-1078
	
     

	
     
	
     

	
    If to Chadbourn, CMCP or Cagan:
	
    with a copy to:

	
     
	
     

	
    Laird Q. Cagan 

    Cagan McAfee Capital Partners

    10600 N. De Anza Boulevard, Suite 250

    Cupertino, California 95014
	
    Robert Blair Krueger II, Esq.

    The Krueger
    Group, LLP

    La Jolla Law Building

    5771 La Jolla Boulevard

    La Jolla, California 92037

	
    Facsimile: 408-904-6085
	
    Facsimile: 858-729-9995

	
     
	
     

	
    If to Tobin Trust:
	
     

	
    c/o Morrie Tobin, Vice President

    PowerOne
    Capital Corp.

    130 King Street West

    Suite 2810, P.O. Box 47

    Toronto, ON M5X-1A9
	
     

	
    If to LFC:
	
     

	
    Liviakis Financial Communications, Inc.
	
     

	
    655 Old Redwood Highway
	
     

	
    Mill Valley, CA 94941
	
     

	
    Attn: John Liviakis
	
     

	
    Fax: 415-389-4694
	
     

	
     
	
     

	
     
	
     

    -4-

    
    
10. Governing Law. 

    This agreement will be governed by and construed in accordance with the
    laws of the State of Delaware, without regard to its conflicts of laws
    principles.

    11. Counterparts. 

    

    This Agreement may be executed in counterparts, each of which shall be
    deemed an original, but all of which together shall constitute one and the same
    instrument.

                IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first above written.

	MINRAD INTERNATIONAL, INC.	MINRAD INC.
	 	 
	 	 
	By: ______________________________	By: ______________________________
	Its: ______________________________CAGAN
    MCAFEE CAPITAL PARTNERS, LLC

    By:__________________________________

    Its: __________________________________
	Its: ______________________________

 

	SHAREHOLDERS:	 
	 	 
	LIVIAKIS FINANCIAL COMMUNICATIONS, INC.	TOBIN FAMILY TRUST
	 	 
	 	By: ______________________________
	By: ______________________________	Name:
	Its: ______________________________	Title:
	 	 
	_________________________________

    Laird Q.
    Cagan	 
	 	 
	_________________________________	 
	Eric McAfee	 
	 	 
	 	 
	 	 

-5-Exhibit 4.3

VOTING AGREEMENT

 

               
This Voting Agreement ("Agreement") entered into as of this ___ day of November,
2004 by and among Laird Q. Cagan, an individual with an address at
_____________________________ ("Cagan"), Eric McAfee, an individual with
an address at _____________________________ ("McAfee"), International Capital
Advisory Inc., a _________________ corporation ("ICA"), Tobin Family
Trust, a ____________ trust u/a/d _________________ ("Trust"), and Cagan
McAfee Capital Partners, LLC, a _________________ limited liability company
("CMCP", Cagan, McAfee, ICA, and Trust are each individually referred to as a
"Shareholder" and collectively as the "Shareholders") and Technology
Acquisition Corporation, a Nevada corporation (the "Corporation"). 

               
Whereas, each Shareholder owns the number of shares representing a
corresponding percentage of issued and outstanding shares of voting common stock
of the Corporation, as set forth opposite his or its respective signature;

               
Whereas, the Corporation has entered into that certain Merger Agreement and
Plan of Exchange with Technology Acquisition Subsidiary, Inc. ("AS"), the
Shareholders and Minrad Inc. (the "Merger Agreement") whereby AS will merge (the
"Merger") with and into Minrad Inc., with Minrad Inc. being the survivor and
becoming a wholly owned subsidiary of the Corporation;

               
Whereas, the Corporation and the Shareholders believe it is in the best
interest of the Corporation to reincorporate the Corporation in the State of
Delaware following the Merger; and

               
Whereas the Shareholders believe it to be in their best interests and the
best interests of the Corporation that the Shareholder's shares of capital stock
of the Corporation now owned or hereafter acquired (the "Shares") be voted in
accordance with the terms and conditions set forth herein.

               
Now, Therefore, in consideration of the foregoing, and of the mutual
promises and covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, it
is agreed as follows:

               
1.     Voting. The Shareholders hereby agree
to pool the voting of their Shares, and to vote or consent with respect to all
of their Shares as a block or unit in all votes in favor of any proposal made or
approved by the Board of Directors of the Corporation after the Merger to
reincorporate the Corporation in the State of Delaware (the "Reincorporation"),
in person or by proxy, at one or more meetings of the Shareholders of the
Corporation, whether at a meeting of the Shareholders of the Corporation or
otherwise, wherein the vote or written consent of the Shareholders of the
Corporation shall be required or authorized by law or the Corporation's Board of
Directors.         

               
2.     Proxy. In order to facilitate any vote or
consent provided for in Section 1, the Shareholders hereby grant to the
President of the Corporation, or to such other person as may be designated by
the Board of Directors of the Corporation, an irrevocable proxy to vote the
Shares as provided in Section 1.

               
3.     Provisions to Survive Death or Incapacity of
any Shareholder. In the event of the death, incapacity or incompetency
of any Shareholder, the provisions of this Agreement will be binding on the
estate, committee or personal representative of such Shareholder and such
estate, committee or personal representative shall act on behalf of such
Shareholder in accordance with the provisions of this Agreement.

               
4.     Transfer of Shares. Upon a transfer of
Shares to a person who is not a Shareholder as of the date hereof, the Shares
shall remain subject to, and shall be voted in accordance with, the terms of
this Agreement. No Shares may be transferred unless the transferee agrees to
execute this Agreement or a substantially similar agreement.

               
5.     Termination of Shareholder Status. A
Shareholder shall no longer be treated as a Shareholder hereunder when the
Shareholder ceases to own any Shares.

               
6.     Endorsement of Share Certificates.
Certificates for Shares of the Corporation subject to this Agreement shall be
endorsed as follows:

                 
  "Any assignment, transfer, pledge, or other disposition of the shares
  represented by this certificate, and any subsequent disposition thereof, is
  restricted by, and subject to, the terms of a Voting Agreement dated as of the
  ____ day of ___________, 2004, copies of which are on file with the Secretary
  of the Corporation."

  

               
7.     Termination. This Agreement shall
terminate upon the happening of the earliest of any of the following events:

                       
(a)     The written agreement of all of the Shareholders and
the Corporation;

                      
(b)     The expiration of the term of this Agreement or any
renewal thereof and the failure of some or all of the remaining Shareholders to
have agreed to renew this Agreement; or

               
8.     Term. This Agreement shall become effective
upon the date hereof and continue in effect for a period of two (2) years from
the date hereof.

                9.     Renewal. This Agreement may be renewed
for successive one (1) year periods or such other term as may be permitted by
law, provided that the Shareholders desiring to extend and renew this Agreement
give their written consent to such renewal prior to the expiration of this
Agreement.

2

               
10.     Amendment. This Agreement may be
amended only by the written agreement of all of the parties hereto.

                11.   Benefit. This Agreement shall be for the benefit
of the parties hereto and shall be binding on the parties hereto, their heirs,
legal representatives, successors, assigns and transferees.

               
12.     Governing Law. This Agreement shall be
governed, construed and enforced in accordance with the laws of the State of
Delaware.

                13.  Entire Agreement. This Agreement constitutes the entire
agreement between the parties hereto and supercedes all prior oral and written
understandings and agreements relating to the subject matter hereof.

[The next page is the signature page.]

3

               
In Witness Whereof, the Shareholders have executed this Agreement as of the
date and year first written above.

	 	
    TECHNOLOGY ACQUISITION CORPORATION

	 	
    

	 	
     

	 	
    By: 
	 
	 	 	
    Name: John Kinney

	 	 	
    Its: President

	 	 
	
    Number of Shares/Percentage Interest 
	Shareholders
	
    
	 
	
     
	 
	
    844,375/16.7% 
	 
	
     
	Laird Q. Cagan
	
    
	 
	
    844,375/16.7% 
	 
	
     
	Eric McAfee
	
    
	 
	
    700,000/13.9% 
	INTERNATIONAL CAPITAL ADVISORY INC.
	
    
	 
	
     
	 
	 	
    By: 
	 
	 		
    Name: 

	 		
    Its: 

	
    
	 
	 	 
	
    845,000/16.7% 
	TOBIN FAMILY TRUST
	
    
	 
	
     
	 
	
     
	By: 	 
	
     
		Name: 
	 		Its: Trustee 
	 	 
	
    250,000/4.9% 
	CAGAN MCAFEE CAPITAL PARTNERS, LLC
	
    
	 
	
     
	 
	
     
	By: 	 
	
     
		Name:
	 		Its: 

4

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