Document:

EX-10.1

  
 
 Exhibit 10.1

EXECUTION VERSION
 SUPPORT AGREEMENT

This SUPPORT AGREEMENT, dated as of April 14, 2020 (this “Agreement”), is entered into by and between Lantheus
Holdings, Inc., a corporation existing under the laws of Delaware (“Parent”), and the parties listed on Schedule A and Schedule B attached hereto (each, a “Stockholder” and, collectively, the
“Stockholders”). Unless otherwise indicated, capitalized terms not defined herein have the meanings given to them in the Merger Agreement (as defined below).

WITNESSETH:
 WHEREAS, on February 20, 2020,
Progenics Pharmaceuticals, Inc., a corporation existing under the laws of Delaware (the “Company”), Parent and Plato Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger
Sub”), entered into an Amended and Restated Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Merger Sub will be merged with and into the Company with the Company continuing as the Surviving
Corporation, on the terms and subject to the conditions of the Merger Agreement (the “Merger”);
 WHEREAS, each
Stockholder is the record and/or beneficial owner of the number of shares of Company Common Stock set forth opposite such Stockholder’s name on Schedule A hereto (together, with any additional securities of the Company described in
Section 1.2, being referred to herein as the “Subject Company Shares”), provided, however, that Subject Company Shares shall not include any shares of Company Common Stock that a Stockholder may Transfer
(as defined below) following the date of this Agreement in accordance with Section 1.3; and
 WHEREAS, each Stockholder is the
record and/or beneficial owner of the number of shares of Parent Common Stock set forth opposite such Stockholder’s name on Schedule B hereto (together, with any additional securities of Parent described in Section 1.2,
being referred to herein as the “Subject Parent Shares” and, together with the Subject Company Shares, the “Subject Shares”), provided, however, that Subject Parent Shares shall not include any
shares of Parent Common Stock that a Stockholder may Transfer following the date of this Agreement in accordance with Section 1.3, provided, further, that Subject Shares shall not include any shares of Company Common Stock or
Parent Common Stock that a Stockholder may Transfer following the date of this Agreement in accordance with Section 1.3.
 NOW,
THEREFORE, for good and valuable consideration, the receipt, sufficiency and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties agree as follows:

1.       
            Voting of Subject Shares for the Merger.
 Section
1.1               Voting Agreement for the Merger.

(a)          
      At every meeting of the stockholders of the Company called with respect to any of the following, and at every adjournment or postponement thereof, and on every action or approval by written consent of the
stockholders of the Company with respect to any of the following, each Stockholder shall Vote or cause to be Voted such Stockholder’s Subject Company Shares in favor of adoption and approval of the Merger Agreement and the terms thereof, the
Merger and each of the other transactions contemplated thereby and any other action reasonably requested by Parent that is necessary for consummation of the Merger and the other transactions contemplated in the Merger Agreement. At every meeting of
the stockholders of Parent called with respect to the Parent Share Issuance, and at every adjournment or postponement thereof, and on every action or approval by written consent of the stockholders of Parent with respect to the Parent Share
Issuance, each Stockholder shall Vote or cause to be Voted such Stockholder’s Subject Parent Shares in favor of approval of the Parent Share Issuance and
 

 
 
 

  

 any other action reasonably requested by Parent that is necessary to effectuate the Parent
Share Issuance. Furthermore, except as otherwise provided in this Agreement, no Stockholder shall (i) enter into any agreement, arrangement or understanding with any other Person to Vote or give instructions inconsistent with this Section
1.1, including any granting of proxies, options, rights of first offer or refusal, or any voting agreement, voting trust or similar arrangement with respect to such Stockholder’s Subject Shares, or (ii) take any other action that would, or
would reasonably be expected to, in any material manner interfere with or impede, frustrate, prevent, burden, delay or nullify the Merger, the Merger Agreement, the Parent Share Issuance or any of the other transactions contemplated by the Merger
Agreement. For purposes of this Agreement, “Vote” shall mean voting in person or by proxy in favor of or against any action, otherwise consenting or withholding consent in respect of any action or taking other action in favor of
or against any action; “Voting” and “Voted” shall have correlative meanings. Any such Vote shall be cast, or consent shall be given, for purposes of this Section 1, in accordance with such procedures
relating thereto as shall ensure that it is duly counted for purposes of determining that a quorum is present and for purposes of recording in accordance herewith the results of such Vote or consent. Subject to Section 2.2, each Stockholder
shall retain at all times the right to dispose of or vote such Stockholder’s Subject Shares in such Stockholder’s sole discretion, and without any other limitation, including voting on any matters other than those expressly set forth in
this Section 1.1 that are at any time or from time to time presented for consideration to the Company’s stockholders or Parent’s stockholders generally, including in connection with the election of directors; provided,
that, in the event that any Stockholder Transfers Subject Shares after the record date for the stockholders meetings to be held by Parent and the Company to seek approval of their respective stockholders for certain matters relating to the Merger,
such Stockholder shall Vote such Subject Shares as set forth in the first two sentences of this Section 1.1.
 Section 1.2               Adjustments; Additional Shares. In the event (a) of any stock dividend, stock
split, recapitalization, reclassification, subdivision, combination or exchange of shares on, of or affecting the Subject Shares, or (b) that any of the Stockholders shall Beneficially Own any additional shares of common stock or other securities of
the Company or Parent, then all shares of common stock or other securities of the Company or Parent that any Stockholder Beneficially Owns immediately following the effectiveness of any event described in clause (a) or any of the Stockholders
Beneficially Owns as described in clause (b), shall, in each case, automatically and without any further action become Subject Shares hereunder. For purposes of this Agreement, “Beneficially Own” shall mean, with respect to any
securities, (a) having “beneficial ownership” of such securities for purposes of Rule 13d-3 or 13d-5 under the Exchange Act (or any successor statute or regulation), (b) having the right to become the Beneficial Owner of such
securities (whether such right is exercisable immediately or only after the passage of time or the occurrence of conditions) pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, rights,
warrants or options, or otherwise, or (c) having an exercise or conversion privilege or a settlement payment or mechanism with respect to any option, warrant, convertible security, stock appreciation right, swap agreement or other security, contract
right or derivative position, whether or not currently exercisable, at a price related to the value of the securities for which Beneficial Ownership is being determined or a value determined in whole or part with reference to, or derived in whole or
in part from, the value of the securities for which Beneficial Ownership is being determined that increases in value as the value of the securities for which Beneficial Ownership is being determined increases or that provides to the holder an
opportunity, directly or indirectly, to profit or share in any profit derived from any increase in the value of the securities for which Beneficial Ownership is being determined.

Section
1.3               Other Obligations.

(a)          
      From the date hereof through the later of (i) the date of the stockholders meeting(s) to be held by Parent to seek approval of its stockholders for certain matters relating to the Merger and (ii) the date of
the stockholders meeting(s) to be held by the Company to seek approval of its stockholders for certain matters relating to the Merger, no Stockholder will, directly or indirectly, in any single
 

 
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 transaction or series of related transactions, sell, short sell, transfer, exchange,
offer, pledge, assign, hypothecate, encumber, tender or otherwise dispose of (collectively, a “Transfer”) such Stockholder’s Subject Shares other than (A) a Transfer of Subject Shares effected through a “brokers’
transaction” as defined in Rule 144(g) executed on a securities exchange or over-the-counter market by a securities broker-dealer acting as agent for the Stockholder (so long as such Transfer is not directed by the Stockholder to be made to a
particular counterparty or counterparties), (B) a Transfer of Subject Shares to a controlled affiliate of the Stockholder that agrees to be bound by the terms of this Agreement and executes a joinder agreement reasonably acceptable to Parent with
respect thereto or (C) a Transfer of Subject Shares (other than a Transfer described in clause (A)) to a Person who is not a controlled affiliate of the Stockholder, so long as such Person agrees to be bound by this Section 1 and executes a
joinder agreement reasonably acceptable to Parent with respect thereto, in each case with respect to clauses (B) and (C), as a condition to the consummation of such Transfer. Any attempted Transfer in violation of this Agreement shall be of no
effect and null and void, regardless of whether the purported transferee has any actual or constructive knowledge of the Transfer restrictions set forth in this Agreement, and shall not be recorded on the stock transfer books of the Company or
Parent, as applicable, or any local custodian or transfer agent.
 (b)                From and after the date of this Agreement until the Voting Expiration Date (as
defined below), each of the Stockholders agrees (a) not to knowingly take any action which makes, or would reasonably be expected to make, any representation or warranty of such Stockholder herein untrue or incorrect in any material respect and (b)
not to knowingly take any action or enter into any agreement or undertaking that would prohibit or prevent it from satisfying any of such Stockholder’s obligations hereunder, or that is intended to prevent or materially delay the consummation
of the transactions contemplated by the Merger Agreement.
 2.                   Standstill; Voting for Matters Unrelated to the
Merger.
 Section
2.1               Standstill. From the date of this Agreement until the earliest to occur
of (i) the first Business Day after the date of Parent’s 2021 annual meeting of stockholders, (ii) the date on which the Company Stockholder Approval shall not have been obtained at the Company Stockholders Meeting or any adjournments or
postponements thereof, (iii) the date on which the Parent Stockholder Approval shall not have been obtained at the Parent Stockholders Meeting or any adjournments or postponements thereof or (iv) the termination of the Merger Agreement in accordance
with its terms (the date of such earliest to occur, the “Standstill Expiration Date”), each of the Stockholders agrees not to, and to cause its Affiliates and Associates (as defined in Rule 12b-2 under the Exchange Act) not to,
directly or indirectly, in any manner:

(a)          
      engage in any solicitation of proxies or consents or become a “participant” in a “solicitation” (as such terms are defined in Regulation 14A under the Exchange Act) of proxies or consents
(including, without limitation, any solicitation of consents that seeks to call a special meeting of stockholders), in each case, with respect to securities of Parent;

(b)          
      form, join, become a member of or in any way participate in, or otherwise encourage the formation of, any “group” (within the meaning of Section 13(d)(3) of the Exchange Act) (other than a
“group” that includes all or some of the entities or persons identified on Schedule A, but does not include any other entities or persons not identified on Schedule A as of the date hereof unless any such other entity or person agrees to
be bound by this Agreement) with respect to any securities of Parent;
 (c)                deposit any securities of Parent in any voting trust or subject any securities of
Parent to any arrangement or agreement with respect to the voting of any securities of Parent (other than any such voting trust, arrangement or agreement solely among the Stockholders or as contemplated by this Agreement);
 

 
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 (d)                seek or submit, or knowingly encourage any person or entity, to seek or submit
nomination(s) in furtherance of a “contested solicitation” for the appointment, election or removal of directors with respect to Parent or seek, knowingly encourage or take any other action with respect to the election or removal of any
directors of Parent;

(e)          
      (i) make any proposal for consideration by stockholders at any annual or special meeting of stockholders of Parent, or (ii) call or seek to call a special meeting of stockholders of Parent;

(f)          
       (i) make any offer or proposal (with or without conditions) with respect to, or solicit, initiate, knowingly facilitate or knowingly encourage the submission or announcement of any proposals or offers that
constitute or would reasonably be expected to lead to any Takeover Proposal or Parent Takeover Proposal, (ii) engage in any discussions (other than with its Affiliates or Associates) or negotiations with respect to any proposal or offer that
constitutes or would reasonably be expected to lead to a Takeover Proposal or Parent Takeover Proposal or (iii) otherwise knowingly cooperate with or assist or participate in, or knowingly facilitate, any such proposals, offers, discussions (other
than with its Affiliates or Associates) or negotiations;

(g)          
      seek, alone or in concert with others, representation on the Board of Directors of Parent;
 (h)                other than through non-public communications with Parent, (i) act, alone or in
concert with others, to seek to control, advise, direct or knowingly influence the management, Board of Directors of Parent (including any individual members thereof), policies or affairs of Parent; or (ii) disclose any plan or proposal with respect
to Parent, or any securities or assets of Parent;

(i)          
       except as otherwise provided in this Agreement, advise, knowingly encourage, support or knowingly influence, or enter into any agreement, understanding, arrangement or trust with, any person or entity with
respect to the voting or disposition of any securities of Parent at any annual or special meeting of stockholders of Parent;
 (j)                 make any request or submit any proposal to amend the terms of this Agreement
other than through non-public communications with Parent that would not reasonably be expected to require public disclosure by Parent;

(k)          
      except as otherwise provided in this Agreement, knowingly advise, agree or offer to take, or knowingly encourage or propose (publicly or privately) the taking of, or announce an intention to take, any action
referred to in the foregoing; or

(l)          
       assist, induce or knowingly encourage, or enter into discussions, negotiations, arrangements or understandings with, any person (other than Parent) to take any action of the type prohibited by the
foregoing.
 Section
2.2               Voting for Matters Unrelated to the Merger. At each annual and special
meeting of stockholders of Parent held prior to the Standstill Expiration Date, each of the Stockholders agrees to (i) appear at such stockholders meeting or otherwise cause all shares of Parent Common Stock beneficially owned by each Stockholder
and their respective Affiliates to be counted as present for purposes of establishing a quorum, (ii) vote, or cause to be voted, all shares of Parent Common Stock beneficially owned by each Stockholder and their respective Affiliates on
Parent’s proxy card or voting instruction form (a) in favor of each of the directors nominated by the Board of Directors of Parent and recommended by the Board of Directors of Parent in the election of directors, (b) against any other nominees
to serve on the Board that have not been recommended by the Board of Directors of Parent, and (c) with respect to all other matters,
 

 
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 in accordance with the recommendations of the Board of Directors of Parent as identified
in Parent’s proxy statement, including in favor of all other matters recommended for stockholder approval by the Board of Directors of Parent, and (iii) not execute any proxy card or voting instruction form in respect of such stockholders
meeting other than the proxy card and related voting instruction form being solicited by or on behalf of the Board of Directors of Parent; provided, however, in the event that Institutional Shareholder Services Inc.
(“ISS”) or Glass Lewis & Co., LLC (“Glass Lewis”) recommends otherwise with respect to any proposal presented at any annual or special meeting of stockholders of Parent, each Stockholder shall be permitted
to vote in accordance with the ISS or Glass Lewis recommendation.
 3.                   Representations and Warranties of the Stockholders.
Each of the Stockholders hereby represents and warrants to Parent that:
 (a)                as of the date hereof, such Stockholder (i) Beneficially Owns the Subject Shares
listed next to such Stockholder’s name on Schedule A and Schedule B, (ii) has sole voting power over and right to consent with respect to all of such Subject Shares, (iii) has good and valid and marketable title to such Stockholder’s
Subject Shares free and clear of all Liens and (iv) is not party to any contracts of any kind specifically relating to Company Common Stock (other than as disclosed in such Stockholder’s Schedule 13D, as amended, with respect to securities of
the Company filed with the SEC) or Parent Common Stock or other voting or equity securities or interests of the Company or Parent (other than in connection with this Agreement, between or among such Stockholder and its Affiliates, or as disclosed to
Parent prior to the date hereof), provided, however, for the avoidance of doubt, the fact that any Subject Shares are held in a margin account or pledged pursuant to the terms thereof shall not be deemed a violation of this Agreement
so long as such Stockholder is not prevented from performing its obligations under and in accordance with this Agreement;
 (b)                as of the date hereof, such Stockholder and its Affiliates do not Beneficially Own
any shares of Company Common Stock or Parent Common Stock, any securities convertible into or exchangeable for any shares of Company Common Stock or Parent Common Stock or other voting securities or instruments of the Company or Parent, in each
case, other than such Stockholder’s Subject Shares;

(c)          
      (i) such Stockholder (A) is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and (B) has all requisite organizational power and authority to execute and
deliver this Agreement and to consummate the transactions contemplated by this Agreement and (ii) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all
requisite organizational action and no other organizational proceedings on the part of such Stockholder are necessary to authorize this Agreement or the consummation of the transactions contemplated hereby;

(d)          
      this Agreement has been duly and validly executed and delivered by such Stockholder, and assuming the due authorization, execution and delivery by Parent, constitutes a valid and binding agreement of such
Stockholder enforceable against such Stockholder in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar Laws of general applicability relating to or affecting creditors’ rights and to general
equity principles (regardless of whether such enforcement is considered in a proceeding at law or in equity); and
 (e)                the execution, delivery and timely performance by such Stockholder of this
Agreement and the consummation by such Stockholder of the transactions contemplated hereby do not and shall not (including with notice or lapse of time or both): (i) require any consent, approval, order, authorization or permit of, or registration
or filing with or notification to, any Governmental Entity or other party, except for the filing with the SEC of any Schedules 13D or 13G or amendments to Schedules 13D
 

 
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 or 13G and filings under Section 16 (as applicable) of the Exchange Act, as may be
required in connection with this Agreement and the transactions contemplated hereby; (ii) contravene or conflict with the certificate of incorporation or the bylaws or other organizational documents of such Stockholder; (iii) result in any material
violation or material breach of, or constitute a default under, or give rise to any right of termination, cancellation or acceleration or any payments under, or result in a loss of a benefit or in the creation or imposition of a Lien under, any of
the terms, conditions or provisions of any note, lease, mortgage, indenture, license, agreement or other instrument or obligation to which such Stockholder is a party or by which such Stockholder or any of such Stockholder’s assets is bound;
or (iv) violate the provisions of any order, writ, injunction, judgment, decree, statute, rule or regulation applicable to such Stockholder, in each case, other than as would not have a material adverse effect on such Stockholder’s ability to
perform its obligations hereunder.
 Except where expressly stated to be given as of the date hereof only, the representations and
warranties contained in this Agreement shall be made as of the date hereof and as of each date from the date hereof through and including the Voting Expiration Date.

4.    
               Representations and Warranties of Parent. Parent hereby represents and warrants to each Stockholder that:

(a)          
      Parent is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to execute and deliver this Agreement and
to consummate the transactions contemplated by this Agreement;
 (b)                (i) the execution, delivery and performance of this Agreement and the consummation
of the transactions contemplated hereby have been duly authorized by all requisite corporate action and no other corporate proceedings on the part of Parent are necessary to authorize this Agreement or the consummation of the transactions
contemplated hereby and (ii) this Agreement has been duly and validly executed and delivered by Parent and, assuming the due authorization, execution and delivery by each of the Stockholders, constitutes a valid and binding agreement of Parent
enforceable against it in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and similar Laws of general applicability relating to or affecting creditors’ rights and to general equity principles
(regardless of whether such enforcement is considered in a proceeding at law or in equity); and
 (c)                the execution, delivery and performance by Parent of this Agreement and the
consummation by Parent of the transactions contemplated hereby do not and shall not (including with notice or lapse of time or both): (i) require any consent, approval, order, authorization or permit of, or registration or filing with or
notification to, any Governmental Entity or other party, except for the filing with the SEC of any Schedules 13D or 13G or amendments to Schedules 13D or 13G and filings under Section 16 (as applicable) of the Exchange Act, as may be required in
connection with this Agreement and the transactions contemplated hereby, (ii) contravene or conflict with the certificate of incorporation or the bylaws of Parent; (iii) result in any violation or the breach of, or constitute a default under, or
give rise to any right of termination, cancellation or acceleration or any payments under, or result in a loss of a benefit or in the creation or imposition of a Lien under, any of the terms, conditions or provisions of any note, lease, mortgage,
indenture, license, agreement or other instrument or obligation to which Parent is a party or by which Parent or any of its assets may be bound or (iv) violate the provisions of any order, writ, injunction, judgment, decree, statute, rule or
regulation applicable to Parent, except in the case of clauses (iii) and (iv) as would not, individually or in the aggregate, reasonably be expected to materially impair the ability of Parent to perform its obligations under this Agreement or
prevent or delay the consummation of the transactions contemplated by this Agreement.
 

 
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 5.                   Disclosure. Each Stockholder hereby authorizes the
Company and Parent to publish and disclose in any announcement or disclosure required by the SEC and in the Joint Proxy Statement/Prospectus such Stockholder’s identity and ownership of the Subject Shares and the nature of such
Stockholder’s obligations under this Agreement, provided that the Company and Parent shall give each Stockholder and its legal counsel a reasonable opportunity to review and comment on any such announcement or disclosure prior to its
being made public and Parent shall give reasonable consideration to any such comments. Except as may be required by applicable Law, no press release or other public statements by any Stockholder regarding this Agreement, the transactions
contemplated hereby, the Merger Agreement or the transactions thereby are permitted, other than press releases or other public statements that are not inconsistent with previous press releases, public disclosures or public statements made jointly by
the Company and Parent. Notwithstanding the foregoing, nothing in this Agreement shall preclude any Stockholder from making such filings as are required by Law in connection with the entering into of this Agreement, including an amendment to any
Schedule 13D previously filed by any Stockholder with the SEC and as such, Parent acknowledges that any Stockholder may, in such Stockholder’s sole discretion, file this Agreement or a form hereof with the SEC or any other Governmental Entity
or securities exchange.
 6.                   Termination. This Agreement shall terminate upon
and shall have no further force or effect after the Standstill Expiration Date; provided, that, Section 1 shall terminate upon the earliest to occur of (a) the Effective Time, (b) the termination of the Merger Agreement in accordance
with its terms, (c) the termination of this Agreement by the mutual written agreement of Parent and the Stockholders, (d) the entry of Parent, Merger Sub or the Company, without the prior written consent of the Stockholders, into any amendment or
modification of the Merger Agreement that (i) results in any decrease to the Merger Consideration or (ii) materially increases the obligations or liabilities of any Stockholder under this Agreement, (e) (i) with respect to the Subject Company Shares
only, the entry of Parent, Merger Sub or the Company, without the prior written consent of the Stockholders, into any amendment or modification of the Merger Agreement that is in a manner materially adverse to the Company’s Stockholders or
(ii) with respect to the Subject Parent Shares only, the entry of Parent, Merger Sub or the Company, without the prior written consent of the Stockholders, into any amendment or modification of the Merger Agreement that is in a manner materially
adverse to Parent’s Stockholders, or (f) a Change in Recommendation by Parent or the Company Board of Directors (the date of such earliest to occur, the “Voting Expiration Date”); provided, further, that any
termination shall not relieve any party from liability for breach of this Agreement prior to such termination.
 7.                   Fiduciary
Duties. No Person executing this Agreement who is or becomes during the term hereof a director or officer of the Company or Parent shall be deemed to make any agreement or understanding in this Agreement in such Person’s capacity as a
director or officer of the Company or Parent. Each of the Stockholders is entering into this Agreement solely in such Stockholder’s capacity as the record holder or beneficial owner of, or the trustee of a trust whose beneficiaries are the
beneficial owners of, such Stockholder’s Subject Shares and nothing herein shall limit or affect any actions taken by such Stockholder in such Stockholder’s capacity as a director or officer of the Company or Parent to the extent
specifically permitted by the Merger Agreement or following the termination of the Merger Agreement.
 8.                  
Miscellaneous.
 Section
8.1               Fees and Expenses. All costs and expenses incurred in connection with
this Agreement shall be paid by the party incurring such expenses.
 Section 8.2               Amendments and Modification. This Agreement may not be amended, modified, or
supplemented except upon the execution and delivery of a written agreement executed by the parties hereto.
 

 
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Section
8.3               Notices. All notices, requests, claims, demands and other communications
hereunder shall be in writing through electronic mail followed (if receipt is not sooner confirmed by return email) within one business day by overnight courier (providing proof of delivery) to the parties at the following addresses (or at such
other address for a party as shall be specified by like notice):
 if to Parent, to:

Lantheus Holdings, Inc.
 331 Treble Cove
Road
 North Billerica, MA 02160
 

	 	Attention:	General Counsel
	 	Email:	michael.duffy@lantheus.com

  

 with a copy (which shall not
constitute notice) to:
 White & Case LLP

1221 Avenue of the Americas
 New York, NY
10020-1095

		Attention:	Morton A. Pierce, Esq.
 Bryan J. Luchs, Esq.

		Email:	morton.pierce@whitecase.com
 bryan.luchs@whitecase.com

 and if to any of the Stockholders, to:

Velan Capital, L.P.
 1055b Powers Place,

Alpharetta, GA 30009
 

	 	Attention:  	Stephanie P. Cooper
	 	Email:	stephanie@avegohc.com

 
  

with a copy (which shall not constitute notice) to:
  

Olshan Frome Wolosky LLP
 1325 Avenue of the Americas

New York, New York 10019
 

	 	Attention: 	Steve Wolosky, Esq.
	 	 	Meagan Reda, Esq.
	 	Email: 	swolosky@olshanlaw.com 
	 	 	mreda@olshanlaw.com 

 
  

Section
8.4               Counterparts. This Agreement may be executed in one or more counterparts
(whether delivered by facsimile or otherwise), each of which shall be considered one and the same agreement.
 Section 8.5               Entire Agreement. This Agreement and the documents and the instruments referred to
herein constitute the entire agreement among the parties with respect to the subject matter hereof. The parties acknowledge and agree that there were no prior agreements, arrangements or understandings, either written or oral, among the parties with
respect to the subject matter hereof.
 Section
8.6               Severability. The provisions of this Agreement shall be deemed severable
and the invalidity or unenforceability of any provision shall not affect the validity or enforceability or the other provisions hereof. If any provision of this Agreement, or the application thereof to any Person or any
 

 
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 circumstance, is invalid or unenforceable in any applicable jurisdiction, (a) the parties
hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible to the fullest extent permitted by applicable Law in an acceptable manner to the end that the transactions
contemplated hereby are fulfilled to the greatest extent possible and (b) the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall
such invalidity or unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction.

Section
8.7               Governing Law. All disputes, claims or controversies arising out of or
relating to this Agreement, or the negotiation, validity or performance of this Agreement, or the transactions contemplated hereby shall be governed by and construed in accordance with the laws of the State of Delaware without regard to its rules of
conflict of laws.
 Section
8.8               Enforcement. The parties agree that irreparable damage would occur in the
event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches
of this Agreement and to enforce specifically the terms and provisions of this Agreement in any court of the State of Delaware or the United States District Court for the District of Delaware, this being in addition to any other remedy to which they
are entitled at law or in equity. In addition, each of the parties (a) consents to submit itself to the personal jurisdiction of any court of the State of Delaware or the United States District Court for the District of Delaware in the event any
dispute arises out of this Agreement or any of the transactions contemplated by the Merger Agreement and (b) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court.
Each party hereto agrees that it will not seek, and agrees to waive any requirement for, the securing or posting of a bond in connection with any other party’s seeking or obtaining such equitable relief. PARENT AND THE STOCKHOLDERS EACH
IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT THEY MAY HAVE TO TRIAL BY JURY IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

Section
8.9               Extension, Waiver. At any time prior to the Standstill Expiration Date,
the parties to this Agreement may (a) extend the time for the performance of any of the obligations or other acts of the other party to this Agreement, (b) waive any inaccuracies in the representations and warranties of the other party contained in
this Agreement or in any document delivered pursuant to this Agreement or (c) waive compliance by the other party with any of the agreements or conditions contained in this Agreement. Any agreement on the part of a party to any such extension or
waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party. The failure of any party to this Agreement to assert any of its rights under this Agreement or otherwise shall not constitute a waiver of those
rights. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person; provided, however
that the Company shall be a third party beneficiary for the purpose of enforcing the provisions of Section 1.1 of this Agreement.

Section
8.10            Assignment. Neither this Agreement nor any of the rights, interests or obligations
hereunder shall be assigned by any of the parties to this Agreement (whether by operation of law or otherwise) without the prior written consent of the other party to this Agreement. Subject to the preceding sentence, this Agreement will be binding
upon, inure to the benefit of and be enforceable by the parties and their respective successors and assigns. No assignment by any party hereto shall relieve such party of its obligations under this Agreement.

Section
8.11            Legal Counsel. The Stockholders acknowledge that they have been advised to, and have had
the opportunity to, consult with their attorneys prior to entering into this Agreement. The Stockholders
 

 
9
 

  

 acknowledge that attorneys for the Company and Parent represent the Company or Parent, as
applicable, and do not represent any of the stockholders of the Company or Parent in connection with the Merger Agreement, this Agreement or any of the transactions contemplated hereby or thereby.

Section
8.12            Agreement Negotiated. The form of this Agreement has been negotiated by or on behalf of
Parent and the Stockholders, each of which was represented by attorneys who have carefully negotiated the provisions hereof. No law or rule relating to the construction or interpretation of contracts against the drafter of any particular clause
should be applied with respect to this Agreement.
 Section
8.13            Effect of Headings. The Section headings herein are for convenience only and shall not
affect the construction or interpretation of this Agreement.
 Section 8.14            Cooperation. Without limiting Section 6, if any notices, approvals or filings are required
with any Governmental Entity in order to allow the parties hereto to effectively carry out the transactions contemplated by this Agreement, the Stockholders and Parent shall cooperate in making such notices or filings or in obtaining such
approvals.
 Section
8.15            Joint and Several Liability. The Stockholders shall be jointly and severally liable for
the performance by any Stockholder of such Stockholder’s obligations hereunder.
 [Signature Page to Follow]
 

 
10
 

  

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

	 	LANTHEUS HOLDINGS, INC.
	 	 
	 	 	 
	 	By:	/s/ Mary Anne Heino
	 	 	Name:	Mary Anne Heino
	 	 	Title:	President and Chief Executive Officer

  

 [Signature Page to Support Agreement]

 

 STOCKHOLDERS:

	 	VELAN CAPITAL, L.P.
	 	 
	 	By:	Altiva Management Inc., its general partner
	 	 	 
	 	By:	 /s/ Stephanie P. Cooper

	 	 	Name:	Stephanie P. Cooper
	 	 	Title:	President and Secretary

  

 

	 	ALTIVA MANAGEMENT INC.
	 	 
	 	By:	 /s/ Stephanie P. Cooper

	 	 	Name:	Stephanie P. Cooper
	 	 	Title:	President and Secretary

  

 

	 	VELAN CAPITAL PARTNERS LP
	 	 
	 	By:	Velan Capital Holdings LLC, its general partner
	 	 	 
	 	By:	 /s/ Deepak Sarpangal

	 	 	Name:	Deepak Sarpangal
	 	 	Title:	Managing Member

  

 

	 	VELAN CAPITAL HOLDINGS LLC
	 	 
	 	By:	 /s/ Deepak Sarpangal

	 	 	Name:	Deepak Sarpangal
	 	 	Title:	Managing Member

  

 

	 	VELAN CAPITAL INVESTMENT MANAGEMENT LP
	 	 
	 	By:	Velan Capital Management LLC, its general partner
	 	 	 
	 	By:	 /s/ Balaji Venkataraman

	 	 	Name:	Balaji Venkataraman
	 	 	Title:	Managing Member

  

 
 

 [Signature Page to Support Agreement]

 

  

	 	VELAN PRINCIPALS GP LLC
	 	 
	 	By:	 /s/ Balaji Venkataraman

	 	 	Name:	Balaji Venkataraman
	 	 	Title:	Managing Member

  

 

	 	VELAN CAPITAL MANAGEMENT LLC
	 	 
	 	By:	 /s/ Balaji Venkataraman

	 	 	Name:	Balaji Venkataraman
	 	 	Title:	Managing Member

  

 

	 	 /s/ Balaji Venkataraman

	 	BALAJI VENKATARAMAN

  

 

	 	 /s/ Deepak Sarpangal

	 	DEEPAK SARPANGAL

  

 

	 	 /s/ Kevin McNeill

	 	KEVIN MCNEILL

  
 

 [Signature Page to Support Agreement]

 

 Schedule A

	Name and Address of Stockholder	Number of Outstanding Shares of Company Common Stock Owned of Record	Number of Shares Under Options for Company Common Stock that are Exercisable within 60
days	Other Shares Beneficially Owned
	 VELAN CAPITAL, L.P.

1055b Powers Place
 Alpharetta, GA 30009

 
	100	0	0
	 ALTIVA MANAGEMENT INC.

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	100(1)
	 Velan Capital Partners LP

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	8,011,633
	 Velan Capital Holdings LLC

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	8,011,633(2)
	 Velan Principals GP LLC

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	8,011,633(2)
	 Velan Capital Investment Management LP

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	8,011,633(2)
	 Velan Capital Management LLC

1055b Powers Place
 Alpharetta, GA 30009
  
	0	0	8,011,633(2)
	 BALAJI VENKATARAMAN

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	8,011,733(1)(2)
	 Deepak Sarpangal

9 Toledo Court
 Burlingame, CA 94010
  
	0	0	8,011,633(2)

(1) Comprised of shares of Common Stock held by Velan Capital, L.P.
 (2) Comprised of shares of Common Stock held by Velan Capital Partners
LP.
 

 A-
1
 

  

 Schedule B

	Name and Address of Stockholder	Number of Outstanding Shares of Parent Common Stock Owned of Record	Number of Shares Under Options for Parent Common Stock that are Exercisable within 60
days	Other Shares Beneficially Owned
	 VELAN CAPITAL, L.P.

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	5,050
	 ALTIVA MANAGEMENT INC.

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	5,050(1)
	 Velan Capital Partners LP

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	1
	 Velan Capital Holdings LLC

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	1(2)
	 Velan Principals GP LLC

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	1(2)
	 Velan Capital Investment Management LP

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	1(2)
	 Velan Capital Management LLC

1055b Powers Place
 Alpharetta, GA 30009
  
	0	0	1(2)
	 BALAJI VENKATARAMAN

1055b Powers Place
 Alpharetta, GA 30009

 
	0	0	5,051(1)(2)
	 Deepak Sarpangal

9 Toledo Court
 Burlingame, CA 94010
  
	0	0	1(2)
	 KEVIN MCNEILL
 1055b Powers
Place
 Alpharetta, GA 30009
  
	0	0	1,500

 (1)
Comprised of shares of Common Stock held by Velan Capital, L.P.
 (2) Comprised of shares of Common Stock held by Velan Capital Partners LP.

 B-
1Exhibit 4.5

		
			Exhibit 4.5
		

		
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			DESCRIPTION OF REGISTRANT’S SECURITIES
		

		
			REGISTERED PURSUANT TO SECTION 12 OF THE
		

		
			SECURITIES EXCHANGE ACT OF 1934
		

		
			 
		

		
			The following description of the securities of ParkerVision Inc. (the “Company”, “we”, “our” or similar terms) is based upon the Company’s amended and restated articles of incorporation (“Charter”), the Company’s bylaws (“Bylaws”) and applicable provisions of law. We have summarized certain portions of the Charter and Bylaws below. The summary is not complete and is subject to, and is qualified in its entirety by express reference to, the provisions of our Charter and Bylaws, each of which is filed as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.5 is a part.
		

		
			 
		

		
			Authorized Capital Stock
		

		
			﻿
		

		
			Pursuant to our Charter, our authorized capital stock consists of 125,000,000 shares, of which 110,000,000 is voting Common Stock, $0.01 par value per share, and 15,000,000 is Preferred Stock, $1.00 per share.
		

		
			﻿
		

		
			Common Stock
		

		
			 
		

		
			Authorization. The outstanding shares of the Company’s common stock are duly authorized, validly issued, fully paid and nonassessable.
		

		
			 
		

		
			Listing. The Company’s common stock is traded on the OTCQB Market under the ticker symbol “PRKR.”
		

		
			 
		

		
			Voting Rights. Common stockholders of record are entitled to one vote for each share held on all matters to be voted on by stockholders.
		

		
			﻿
		

		
			Preemptive Rights, Etc. Our stockholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable to our common stock, except that upon the consummation of our initial business combination, subject to the limitations described herein, we will provide our stockholders with the opportunity to redeem their shares of our common stock for cash equal to their pro rata share of the aggregate amount then on deposit in the trust account.
		

		
			﻿
		

		
			Preferred Stock
		

		
			 
		

		
			Our Charter provides that shares of preferred stock may be issued from time to time in one or more series. Our board of directors will be authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications, limitations and restrictions, applicable to the shares of each series. Our board of directors will be able, without stockholder approval, to issue preferred stock with voting and other rights that could adversely affect the voting power and other rights of the holders of the common stock and could have anti-takeover effects.
		

		
			﻿
		

		
			Series E Preferred Stock
		

		
			 
		

		
			On November 17, 2005, the board of directors designated 100,000 shares of authorized preferred stock as the Series E Preferred Stock in conjunction with its adoption of a Shareholder Protection Rights Plan (as described below). Certain rights of this series of preferred stock are defined in terms of a “Reference Package.”  The “Reference Package” is initially 1,000 shares of common stock, as adjusted for stock dividends, subdivisions and combinations. The holders of full or fractional shares of this series are entitled to receive dividends, when and as declared by the board of directors, on each date that dividends or other distributions (other than dividends or distributions payable in our common stock) are payable on or in respect of common stock comprising part of the Reference Package, in an amount per whole share of this series equal to the aggregate amount of dividends or other distributions that would be payable on such date to a holder of the Reference Package.  In addition, on the last day of March, June, September and December in each year, the holders of this series are entitled to receive dividends in an amount per whole share of this series equal to the excess (if any) of $100 over the aggregate dividends paid per whole share of this series 
		

		 

 

		during the three-month period ending on such last day. Dividends on each full and each fractional share of this series are cumulative from the date such full or fractional share is originally issued.  In the event of any liquidation, dissolution or winding up of our affairs, whether voluntary or involuntary, the holders of full and fractional shares of this series shall be entitled, before any distribution or payment is made on any date to the holders of the common stock or any other stock of ours ranking junior to this series upon liquidation, to be paid in full an amount per whole share of this series equal to the greater of $100 or the aggregate amount distributed or to be distributed in connection with such liquidation, dissolution or winding up to a holder of the Reference Package, together with accrued dividends to such distribution or payment date, whether or not earned or declared. 
		

		
			﻿
		

		
			Our Series E Preferred Stock shall rank junior to all other series or classes of our preferred stock, now existing or hereafter created, as to payment of dividends and the distribution of assets, unless the terms of any such other series or class shall provide otherwise.
		

		
			 
		

		
			Each whole share of this series shall, on any matter, vote as a class with any other capital stock comprising part of the Reference Package and voting on such matter and shall have the number of votes thereon that a holder of the Reference Package would have.
		

		
			﻿
		

		
			﻿
		

		
			Shareholder Protection Rights Plan
		

		
			﻿
		

		
			We have a Shareholder Protection Rights Agreement (“Rights Agreement”), originally adopted on November 21, 2005 and amended on November 20, 2015, pursuant to which we issued, on November 29, 2005, as a dividend, one right to acquire a fraction of a share of Series E Preferred Stock for each then outstanding share of Common Stock. Each share of Common Stock issued by us after such date also has included, and any subsequent shares of Common Stock issued by us prior to the Separation Time (as defined in the Rights Agreement) will include, an attached right. The following description of the Rights Agreement, and any description of the Rights Agreement included in a prospectus supplement, may not be complete and is subject to and qualified in its entirety by reference to the terms and provisions of the Rights Agreement.
		

		
			 
		

		
			The principal objective of the Rights Agreement is to cause someone interested in acquiring us to negotiate with our Board rather than launch an unsolicited or hostile bid. The Rights Agreement subjects a potential acquirer to substantial voting and economic dilution.
		

		
			 
		

		
			The rights initially are not exercisable and trade with our Common Stock. In the future, the rights may become exercisable with various provisions that may discourage a takeover bid. If a potential acquirer initiates a takeover bid or becomes the beneficial owner of 15% or more of our Common Stock, the rights will separate from the Common Stock. Upon separation, the holders of the rights may exercise their rights at an exercise price of $14.50 per right (the “Exercise Price”), subject to adjustment and payable in cash. Additionally, the rights have what are known as “flip-in” and “flip-over” provisions that could make any acquisition of us more costly to the potential acquirer. The “flip-in” provision provides that, in the event a potential acquirer acquires 15% or more of the outstanding shares of our Common Stock, upon payment of the exercise price, the holders of the rights will receive from us that number of shares of Common Stock having an aggregate market price equal to twice the Exercise Price, as adjusted. The “flip-over” provision allows the holder to purchase that number of shares of common/voting equity of a successor entity, if we are not the surviving corporation in a business combination, with an aggregate market price equal to twice the Exercise Price.
		

		
			 
		

		
			We have the right to substitute for any of our shares of Common Stock that we are obligated to issue, shares of Series E Preferred Stock at a ratio of one thousandth of a share of Series E Preferred Stock for each share of Common Stock.
		

		
			 
		

		
			The rights may be redeemed upon approval of the Board at a redemption price of $0.01 per right. The Rights Agreement expires on November 20, 2020.
		

		
			 
		

		
			Classified Board; Director Nominations; Special Meetings
		

		
			 
		

		
			Our Board is divided into three classes, with only one class of directors elected at each annual meeting, and our shareholders may remove our directors only for cause. Nominations for our Board may be made by our Board or by 
		

		 

 

		any holder of Common Stock.  A shareholder entitled to vote for the election of directors may nominate a person for election as director only if the shareholder provides written notice of his nomination to our secretary not later than 120 days in advance of the same day and month that our proxy statement was released to shareholders in connection with the previous year’s annual meeting of shareholders or, if no annual meeting was held in the previous year, then by the end of the fiscal year to which the annual meeting in which the nomination will be made relates. A special meeting of our shareholders may be called only by our Board or our chief executive officer. These provisions and the Board’s right to issue shares of our preferred stock from time to time, in one or more classes or series without stockholder approval, are intended to enhance the likelihood of continuity and stability in the composition of the policies formulated by our Board. These provisions are also intended to discourage some tactics that may be used in proxy fights.
		

		
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