Document:

exv10w36

 

Exhibit 10.36

Takeda Pharmaceutical Company Limited

	 	 	 	 	 
	 

	 	Corporate Strategy & Planning Department
	 	Shinji Honda
	     Established 1781

	 	12-10, nihonbashi 2-chome, chuo-ku. tokyo 103-8668, japan
	 	Senior Manager
	     Incorporated 1925

	 	TEL+81-3-3278-2258 FAX +81-3-3278-2230
	 	US Operations

 

January 29, 2007

Dr. Ryuji Ueno

Sucampo Pharmaceuticals, Inc.

4733 Bethesda Avenue

Suite 450

Bethesda, MD 20814

U.S.A.

Re: TAP Co-Promotion Agreement

Dear Dr. Ueno:

     Reference is made to that certain redacted version of the Co-Promotion Agreement (the
“Co-Promotion Agreement”) between Takeda Pharmaceuticals America, Inc. (“TPA”) and
TAP Pharmaceutical Products Inc. (“TAP”) that was previously provided to you. Reference is
also made to the Collaboration and License Agreement (the “Original Agreement”), dated as
of October 29, 2004, as supplemented by the Supplemental Agreement (the “Supplemental
Agreement” and, together with the Original Agreement, the “Agreements”), dated as of
February 1, 2006, between Takeda Pharmaceutical Company Limited (“TPC”) and Sucampo
Pharmaceuticals, Inc. (“Sucampo”). This letter agreement is being delivered to you in
order to confirm our mutual understandings and agreement regarding TPC’s and TPA’s appointment of
TAP as the detailing and sales promotion organization for Amitiza pursuant to the Co-Promotion
Agreement (the “Appointment”).

     Specifically, this letter agreement confirms that (1) the purpose of the Appointment is solely
to replace PSS as the detailing organization (as identified in Section 6.1 of the Supplemental
Agreement) to promote Amitiza in the secondary position, (2) the Appointment is limited solely to
product detailing and sales promotion, (3) the Appointment does not relieve TPC of any of its
obligations under the Agreements and TPC remains fully liable for the performance by TPA or TAP, as
the case may be, of all of TPC’s obligations under the Agreements applicable to their activities,
and (4) Sucampo does not object to the Appointment. This letter agreement further confirms that
the annual minimum PDEs for Amitiza remain the annual minimum PDEs specified in Section 5.3(f) of
the Original Agreement.

     TPC also agrees that any press release announcing the Appointment made by TPC, TAP or any of
their respective affiliates shall refer only to Amitiza and not to any other product detailed or
otherwise handled by TAP. The foregoing sentence shall not prevent TPC, TAP or
any of their respective affiliates from issuing a separate press release with respect to any
other product detailed or otherwise handled by TAP. In addition, any such announcement or other

 

 

Takeda Pharmaceutical Company Limited

public announcement relating to or arising out of the Appointment will be in compliance with
the standard operating procedures set forth in Annex 5 to the Supplemental Agreement.

     TPC further agrees to provide to Sucampo reasonable advance notice as to, and discuss in good
faith with Sucampo, any future plans to (1) extend the term of the Appointment beyond March 31,
2009, (2) replace TAP as the detailing organization for Amitiza, or (3) utilize TPA’s own sales
force to perform the product detailing and sales promotion functions contemplated by Section 6.1 of
the Supplemental Agreement. Any such plans will be discussed at the JCC pursuant to the procedures
set forth in the Original Agreement. TPC further agrees to discuss with Sucampo on an ongoing
basis at the JCC any additional promotional needs for Amitiza.

     We kindly ask that Sucampo confirm its understanding and agreement to the foregoing by
executing this letter agreement in the space provided below and returning a copy to the
undersigned,

	 	 	 	 	 
	 	 	Very truly yours,
	 
	 	 	 	 
	 

	 	By:
	 	   /s/ Shinji Honda
	 

	 	 	 	 
	 

	 	Name:
	 	Shinji Honda
	 

	 	Title:
	 	 Sr. Manager, US Operations

Consented to and acknowledged by:

	 	 	 	 	 
	Sucampo Pharmaceuticals, Inc.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Ryuji Ueno
 

	 	 
	Name:

	 	          RYUJI UENO	 	 
	Title:

	 	          CEO	 	 
	Date:

	 	          1/29/07exv10w11

 

Exhibit 10.11

Restricted Stock Agreement

Cash Systems, Inc.

2005 Equity Incentive Plan

     THIS
AGREEMENT, made effective as of this ___ day of ___, 2006, by and between Cash Systems,
Inc., a Delaware corporation (the “Company”), and
___ (“Participant”).

W I T N E S S E T H:

     WHEREAS, the Participant on the date hereof is a consultant or advisor to, or a key employee,
officer, or director of the Company or one of its Subsidiaries; and

     WHEREAS, the Company wishes to grant a restricted stock award to Participant for shares of the
Company’s Common Stock pursuant to the Company’s 2005 Equity Incentive Plan (the “Plan”); and

     WHEREAS, the Administrator of the Plan has authorized the grant of a restricted stock award to
the Participant;

     NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained,
the parties hereto agree as follows:

	1.	 	Grant of Restricted Stock Award. The Company hereby
grants to Participant on the date set forth above a
restricted stock award (the “Award”) for ___ shares of
Common Stock on the terms and conditions set forth
herein, and subject to adjustment pursuant to Section 13
of the Plan. The Company shall cause to be issued a stock
certificate representing such shares of Common Stock in
the Participant’s name, and shall deliver such
certificate to the Participant; provided, however, that
the Company shall place a legend on such certificate
describing the risks of forfeiture and other transfer
restrictions set forth in this Agreement and providing
for the cancellation and return of such certificate if
such shares of Common Stock are forfeited as provided in
Paragraph 2 below. Until such risks of forfeiture have
lapsed or the shares subject to this Aware have been
forfeited pursuant to Paragraph 2 below, the Participant
shall be entitled to vote the shares represented by such
stock certificates and shall received all dividends
attributable to such shares, but the Participant shall
not have any other rights as a shareholder with respect
to such shares.
	 
	2.	 	Vesting of Restricted Stock

	 	a)	 	The shares of Stock subject to this Award shall remain forfeitable
until the risks of forfeiture lapse according to the following vesting
schedule:

 

 

	 	 	 	 	 
	 	 	Cumulative Percentage	 
	Vesting Date	 	of Shares Vested	 
	 
	 	 	 	 

If the Participant’s employment or other relationship with the Company or any Subsidiary ceases at
any time prior to a Vesting Date for any reason, including the Participant’s voluntary resignation
or retirement or termination by the Company, the Participant shall immediately forfeit all shares
of Stock subject to this Award which have not yet vested and for which the risks of forfeiture have
not lapsed.

	3.	 	Miscellaneous

	 	a)	 	Employment-At-Will This Agreement shall not confer on
Participant any right with respect to continuance of
employment by or other relationship with the Company or any
of its Subsidiaries, nor will it interfere in any way with
the right of the Company or any of its Subsidiaries to
terminate such employment or other relationship.
Participant’s employment or other relationship with the
Company and its Subsidiaries shall be employment-at-will,
and nothing in this Agreement shall be construed as
creating an employment contract for any specified term
between Participant and the Company or any of its
Subsidiaries.
	 
	 	b)	 	Securities Law Compliance. Participant shall not transfer
or otherwise dispose of the shares of Stock received
pursuant to this Agreement until such time as counsel to
the Company shall have determined that such transfer or
other disposition will not violate any state or federal
securities laws. The Participant may be required by the
Company, as a condition of the effectiveness of this
restricted stock award, to agree in writing that all Stock
subject to this Agreement shall be held, until such time
that such Stock is registered and freely tradable under
applicable state and federal securities laws, for
Participant’s own account without a view to any further
distribution thereof, that the certificates for such shares
shall bear an appropriate legend to that effect and that
such shares will be not transferred or disposed of except
in compliance with applicable state and federal securities
laws.
	 
	 	c)	 	Mergers, Recapitalizations, Stock Splits, Etc. Pursuant and
subject to Section 13 of the Plan, certain changes in the
number or character of the Common Stock of the Company
(through sale, merger, consolidation, exchange,
reorganization, divestiture (including a spin-off),
liquidation, recapitalization, stock split, stock dividend,
or otherwise) shall result in an adjustment, reduction or
enlargement, as appropriate, in Participant’s rights with
respect to any shares of Common Stock for which the risks
of forfeiture have not lapsed ( i.e. Participant shall
have such “anti-dilution” rights under the Award with
respect to such events, but shall not have “preemptive”
rights).

 

 

	 	d)	 	Shares Reserved. The Company shall at all times during the
term of this Agreement reserve and keep available such
number of shares as will be sufficient to satisfy the
requirements of this Agreement.
	 
	 	e)	 	Withholding Taxes. In order to permit the Company to comply
with all applicable federal or state income tax laws or
regulations, the Company may take such action as it deems
appropriate to insure that, if necessary, all applicable
federal or state payroll, income, or other taxes are
withheld from any amounts payable by the Company to the
Participant. If the Company is unable to withhold such
federal and state taxes, for whatever reason, the
Participant hereby agrees to pay to the Company an amount
equal to the amount the Company would otherwise be required
to withhold under federal or state law.
	 
	 	f)	 	2005 Equity Incentive Plan. The Award evidenced by this
Agreement is granted pursuant to the Plan, a copy of which
Plan has been made available to Participant and is hereby
incorporated into this Agreement. This Agreement is subject
to and in all respects limited and conditioned as provided
in the Plan. All defined terms of the Plan shall have the
same meaning when used in this Agreement. The Plan governs
this Agreement, and in the event of any questions as to the
construction of this Agreement or in the event of a
conflict between the Plan and this Agreement, the Plan
shall govern, except as the Plan otherwise provides.
	 
	 	g)	 	Lockup Period Limitation. Participant agrees that in the
event the Company advises Participant that it plans an
underwritten public offering of its Common Stock in
compliance with the Securities Act of 1933, as amended, and
that the underwriter(s) seek to impose restrictions under
which certain shareholders may not sell or contract to sell
or grant any option to buy or otherwise dispose of part of
all of their stock purchase rights of the underlying Common
Stock, Participant hereby agrees that for a period not to
exceed 180 days from the prospectus, Participant will not
sell or contract to sell or grant an option to buy or
otherwise dispose of this Agreement or any of the
underlying shares of Common Stock without the prior written
consent of the underwriter(s) or its representative(s).
	 
	 	h)	 	Blue Sky Limitation. Notwithstanding anything in this
Agreement to the contrary, in the even the Company makes
any public offering of its securities and determines, in
its sole discretion, that it is necessary to reduce the
number of issued but unexercised stock purchase rights so
as to comply with any state securities or Blue Sky law
limitations with respect thereto, the Board of Directors of
the Company shall accelerate the vesting of this restricted
stock award, provided that the Company gives Participant 15
days’ prior written notice of such acceleration. Notice
shall be deemed given when delivered personally or when
deposited in the United States mail, first class postage
prepaid and addressed to Participant at the address of
Participant on file with the Company.
	 
	 	i)	 	Accounting Compliance. Participant agrees that, if a
merger, reorganization, liquidation, or other “transaction”
as defined in Section 13 of the Plan occurs, and

 

 

	 	j)	 	Stock Legend. The Administrator may require that the
certificates for any shares of Common Stock purchased by
Participant (or, in the case of death, Participant’s
successors) shall bear an appropriate legend to reflect the
restrictions of Paragraph 3(b) and Paragraphs 3(g) through
4(i) of this Agreement.
	 
	 	k)	 	Scope of Agreement. This Agreement shall bind and inure to
the benefit of the Company, its Subsidiaries and its
successors and assigns the Participant and any successor or
successors of Participant permitted by this Agreement.
	 
	 	l)	 	Arbitration. Any dispute arising out of or relating to this
Agreement or the alleged breach of it, or the making of
this Agreement, including claims of fraud in the
inducement, shall be discussed between the disputing
parties in a good faith effort to arrive at a mutual
settlement of any such controversy. If, notwithstanding,
such dispute cannot be resolved, such dispute shall be
settled by binding arbitration. Judgment upon the award
rendered by the arbitrator may be entered in any court
having jurisdiction thereof. The arbitrator shall be a
retired state or federal judge or an attorney who has
practiced securities or business litigation for at least
ten (10) years. If the parties cannot agree on an
arbitrator within twenty (20) days, any party may request
that the chief judge of the District Court of Clark County,
Nevada, select an arbitrator. Arbitration will be conducted
pursuant to the provisions of this Agreement, and the
commercial arbitration rules of the American Arbitration
Association, unless such rules are inconsistent with the
provisions of this Agreement. Limited civil discovery shall
be permitted for the production of documents and taking of
depositions. Unresolved discovery disputes may be brought
to the attention of the arbitrator who may dispose of such
dispute. The arbitrator shall have the authority to award
any remedy or relief that a court of this state could order
or grant; provided, however, that punitive or exemplary
damages shall not be awarded. The arbitrator may award to
the prevailing party, if any, as determined by the
arbitrator, all of its costs and fees, including the
arbitrator’s fees. Unless otherwise agreed by the parties,
the place of any arbitration proceedings shall be Clark
County, Nevada.

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on
the day and year first above written.

	 	 	 	 	 	 	 
	 	 	CASH SYSTEMS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Its:
	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Participant

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