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Exhibit 10.4

VOTING AGREEMENT 

     THIS VOTING AGREEMENT (the “Agreement”) is made and entered into as of this 8th  day of May 2008, by and among Ronald H. Lane, Ph.D. (“Lane”), RH Lane Limited Partnership, a Arizona limited partnership
(“Lane LP” and together with Lane, the “Lane Holders”) Harcharan Singh (“Singh”), 2133820 Ontario, Inc., an Ontario company (“Ontario” and together with Singh, the
“Singh Holders”), Maneesh Pharmaceuticals Ltd., an Indian corporation (“Maneesh”), Svizera Holdings BV, a
Netherlands entity (“Svizera”), Vinay Sapte (“Sapte” and together with Maneesh and Svizera, the
“Maneesh Holders”), Axiom Capital Management LLC (“Axiom”), and Indigo Securities LLC (“Indigo”, and,
together with Axiom, the “IB Holders”) (the “Lane Holders”, Singh
Holders”, “Maneesh Holders”, and the IB Holders to be collectively referred to as the “Stockholders”).

RECITALS 

     A.      The Stockholders are record owners and/or beneficial owners (as such term is defined in Rule 13d-3 of the Securities and Exchange Act of 1934, as amended (the
“Exchange Act”)) of Synovics Pharmaceuticals Inc.’s (together with its affiliates, the “Company”) common
stock, par value $0.001 per share (the “Common Stock”); 

     B.      Svizera and Ontario are the holders of a Convertible Promissory Note (the “Bridge Note”) of
Kirk Pharmaceuticals, LLC in the principal amount of $1,000,000 due June 30, 2008 convertible into shares of the Company’s future series of Series C Convertible Redeemable Stock, par value $0.001 per share (the “Series C Preferred Stock”) pursuant to the terms thereof; 

     C.      Maneesh has guaranteed in full (by means of a letter of credit) (the “Maneesh Guarantee”) the
Company’s obligations under that certain Credit Agreement, dated as of May 22, 2006, between the Company and Bank of India, New York Branch, together with the documents related thereto and executed and delivered in connection therewith (the
“BOI Loan”) in complete replacement of the guarantees and undertakings of Nostrum Pharmaceuticals, Inc. (“Nostrum”) and Nirmal Mulye given in connection with the BOI Loan (the “Nostrum Guarantee”); 

     D.      Maneesh intends to invest at least $6,000,000 (the “Series C Investment”) to acquire, among
other things, shares of Series C Preferred Stock at the initial closing of the Series C Financing (the “Series C Financing”) (including principal of the Bridge Note that
“rolls over” into the Series C Financing); 

     E.      Simultaneous with the effectiveness of the Maneesh Guarantee and release of the Nostrum Guarantee, Vinay Sapte, a Maneesh Representative (as defined herein), was
appointed to the Board of Directors of the Company (the “Board”) and William McCormick and Richard Feldheim resigned from the Board;

     F.      Upon the release from escrow to the Company of Svizera’s Series C Investment in the Series C Financing and subject to the Company’s Articles of
Incorporation and Bylaws and any applicable law and regulations (including, without limitation, Section 14(f) of the 

Exchange Act and the rules and regulations promulgated thereunder), the Board resolved to increase its size to five and appoint two (2) additional Maneesh Representatives and one (1) Singh Representative (as defined herein) (such
new Board, the “Post-Financing Board”); 

     G.      In connection with the constitution of the Post-Financing Board, the parties desire to, among other things, provide for establishment of the size of the
Post-Financing Board and the election of certain designees of the Stockholders to the Post-Financing Board in accordance with the terms of this Agreement. 

     NOW, THEREFORE, the parties agree as follows: 

     1.   Voting Provisions Regarding Board of Directors.

          1.1. Size of the Board. Each Stockholder agrees to vote, or cause to be voted, all Shares (as defined below) owned by such Stockholder, or
over which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that the size of the Post-Financing Board shall be five (5) directors, unless the Post-Financing Board resolves to
expand its size to seven (7) directors, in which case the size of the Post-Financing Board shall be seven (7) directors.  For purposes of this Agreement, the term “Shares” shall
mean and include any securities of the Company the holders of which are entitled to vote for members of the Post-Financing Board, including without limitation, all shares of Common Stock and the Series C Preferred Stock, by whatever name called, now
owned or subsequently acquired by a Stockholder, however acquired, whether through stock splits, stock dividends, reclassifications, recapitalizations, similar events or otherwise. 

          1.2. Board Composition.  Each Stockholder agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over which such
Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that at each annual or special meeting of stockholders at which an election of directors is held or pursuant to any written
consent of the stockholders, the following persons shall be elected to the Post-Financing Board: 

                (a) one (1) director of the Company designated by the Lane Holders (the “Lane Representative”). The Lane Representative shall
initially be Lane; 

                (b) one (1) director of the Company designated by the Singh Holders (the “Singh Representative”). The Singh Representative shall
initially be Singh; 

                (c) three (3) directors of the Company designated by the Maneesh Holders (the “Maneesh Representatives”); provided that if the size of the Post-Financing Board is increased to seven (7), then the Maneesh Holders may designate one (1) additional director of the Company.  The Maneesh Representatives shall
initially be Vinay Sapte, Jyotiindra Gange and Maneesh Sapte.  The Stockholders hereby agree that no Maneesh Representative, Lane Representative, or Singh Representative shall ever be Nirmal Mulye or an Affiliate (as defined below)
thereof;

                (d) If the size of the Post-Financing Board is increased to seven (7), then the IB Holders shall be entitled to designate one (1) director of the Company who shall 

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preferably be a Certified Public Accountant or a candidate who qualifies as an “audit committee financial expert” as defined by the Sarbanes Oxley Act of 2002 and any rules and regulations thereunder.

                (e) In the event that any of the Lane Holders, the Singh Holders, or the Maneesh Holders shall cease to beneficially own (determined in accordance with Section 13 of the Securities Exchange Act of
1934, as amended, and the rules and regulations thereunder) at least 4% of the outstanding Common Stock determined as of the date hereof after giving effect to the initial Closing of the offering by the Company of Series C Preferred Stock, then the
right of such holders falling below such 4% beneficial ownership to designate the Lane Representative, the Singh Representative, or the Maneesh Representative, as applicable, shall terminate and such right shall be vested in the entire
Post-Financing Board. After such initial Closing, the Company shall notify the Stockholders of the number of shares of Common Stock equal to 4% as so determined above. 

          1.3.  Failure to Designate a Board Member. In the absence of any designation from the persons or groups with the right to designate a
director as specified above, the director previously designated by them and then serving shall be reelected if still eligible to serve as provided herein. 

          1.4. Removal of Board Members.  Each Stockholder also agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over
which such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that: 

                (a) no director elected pursuant to Sections 1.2 or Section 1.3 of this Agreement
may be removed from office unless (i) such removal is directed or approved by the affirmative vote of the Person(s) (as defined below), or of the holders of the class of stock, entitled under Section 1.2 to designate that director or (ii) the Person(s) originally entitled to designate or approve such director or occupy such Post-Financing Board seat pursuant to Section
1.2 is no longer so entitled to designate or approve such director or occupy such Post-Financing Board seat; and 

                (b) any vacancies created by the resignation, removal or death of a director elected pursuant to Sections 1.2 or Section 1.3 shall be filled pursuant to the provisions of this Section 1. 

     All Stockholders agree to execute any written consents required to perform the obligations of this Agreement, and the Company agrees at the request of any party entitled to designate directors to call
a special meeting of stockholders for the purpose of electing directors. 

          1.5. No Liability for Election of Recommended Directors. No party, nor any Affiliate of any such party, shall have any liability as a result
of designating a Person for election as a director for any act or omission by such designated Person in his or her capacity as a director of the Company, nor shall any party have any liability as a result of voting for any such designee in
accordance with the provisions of this Agreement. 

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     For purposes of this Agreement, an individual, firm, corporation, partnership, association, limited liability company, trust or any other entity (collectively, a “Person”) shall be deemed an “Affiliate” of another Person who, directly or indirectly, controls, is controlled by or is under common
control with such Person. 

          1.6 Mulye and Affiliates.  Each of the Stockholders agrees that it shall not vote its respective shares, contrary to the resolution of a
majority of disinterested directors of the Company, to engage in any fashion Nirmal Mulye, Anil Anand, Nostrum Pharmaceuticals, Inc. or any of their respective affiliates or associates (the “Mulye
Parties”), other than to resolve outstanding disputes between the Company and any affiliates thereof and any Mulye Parties. 

     2.   Remedies. 

          2.1. Irrevocable Proxy. Each party to this Agreement hereby constitutes and appoints a designee of each of the Lane Holders, the Singh Holder and the Maneesh Holders, and each of them, with full power of substitution, as the proxies of the party with respect to the matters set forth herein, including without limitation,
election of persons as members of the Post-Financing Board in accordance with Section 1 hereto, and hereby authorizes each of them to represent and to vote, if and only if the party (i)
fails to vote or (ii) attempts to vote (whether by proxy, in person or by written consent), in a manner which is inconsistent with the terms of this Agreement, all of such party’s Shares in favor of the election of persons as members of the
Post-Financing Board determined pursuant to and in accordance with the terms and provisions of this Agreement.  The proxy granted pursuant to the immediately preceding sentence is given in consideration of the agreements and covenants of the Company
and the parties in connection with the transactions contemplated by this Agreement and, as such, is coupled with an interest and shall be irrevocable unless and until this Agreement terminates or expires pursuant to Section 4 hereof. Each party hereto hereby revokes any and all previous proxies with respect to the Shares and shall not hereafter, unless and until this Agreement terminates or expires pursuant to
Section 4 hereof, purport to grant any other proxy or power of attorney with respect to any of the Shares, deposit any of the Shares into a voting trust or enter into any agreement (other
than this Agreement), arrangement or understanding with any person, directly or indirectly, to vote, grant any proxy or give instructions with respect to the voting of any of the Shares, in each case, with respect to any of the matters set forth
herein. 

          2.2. Specific Enforcement.  Each party acknowledges and agrees that each party hereto will be irreparably damaged in the event any of the
provisions of this Agreement are not performed by the parties in accordance with their specific terms or are otherwise breached. Accordingly, it is agreed that each of the Company and the Stockholders shall be entitled to an injunction to prevent
breaches of this Agreement, and to specific enforcement of this Agreement and its terms and provisions in any action instituted in any court of the United States or any state having subject matter jurisdiction. 

          2.3. Remedies Cumulative. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not
alternative. 

     3.   Increase in Authorized Capital Stock. Each Stockholder also agrees to vote all of its Shares from time to time and at all times, in whatever manner shall be necessary
to authorize an increase in the authorized capital stock of the Company so that there will be sufficient shares 

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of Common Stock available for (i) conversion of all of the then-outstanding shares of the Company’s Series C Preferred Stock, (ii) exercise of warrants for Common Stock issued in connection with the Company’s Series C
Preferred Stock, if and to the extent that any such conversion or exercise would otherwise be prevented due to an insufficient number of shares of authorized Common Stock, and (iii) issuance upon the exercise, conversion or exchange of then
outstanding or contemplated exercisable, convertible, or exchangeable securities of the Company or its subsidiaries. 

     4.   Term. This Agreement shall become effective immediately upon the constitution of the Post-Financing Board (the “Effective Time”) and shall continue in effect until and shall terminate upon the earliest to occur of (a) upon the date as of which the parties hereto terminate this Agreement by written consent of
each of the Company and the Stockholders, (b) the fifteenth anniversary of the Effective Time, (c) the date of the closing of a sale, lease, or other disposition of all or substantially all of the Company’s assets or the Company’s merger
into or consolidation with any other corporation or other entity, or any other corporate reorganization, in which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after such
transaction, securities representing less than fifty percent (50%) of the voting power of the corporation or other entity surviving such transaction, provided that this Section 4.1(c) shall not apply to a merger effected exclusively for the purpose of changing the domicile of the Company, or (d) the Maneesh Holders at any time beneficially own (as such term is defined in
Rule 13d-3 of the Exchange Act) less than 5% of the outstanding shares of the Common Stock. 

     5.   Miscellaneous. 

          5.1 Ownership.  Other than as set forth in Schedule 5.1 hereto, each Stockholder represents, warrants and covenants that (a) such Stockholder
has good and valid title to and has the sole and exclusive right and power to exercise all voting rights and other rights with respect to its Shares and will have the sole and exclusive right and power to exercise all voting rights and other rights
with respect to its Shares, (b) the Shares owned by such Stockholder and the certificates representing such Shares are held by such Stockholder free and clear of all liens, claims, security interests, proxies, voting trusts or agreements,
understandings or arrangements or any other encumbrances whatsoever, except for any such encumbrances or proxies arising hereunder and with respect to the Lane Holders, a pledge pursuant to that certain Pledge Agreement dated as of April 3, 2008
between Lane and Axiom Capital Management, Inc., and (c) such Stockholder has full power and capacity to execute, deliver and perform this Agreement, which has been duly executed and delivered by, and evidences the valid and binding obligation of,
such Stockholder enforceable in accordance with its terms.

          5.2. Additional Parties.  Other than bona fide unaffiliated third party transferees or assignees of Shares pursuant to a registration
statement under the Securities Act of 1933, as amended, or Rule 144 thereunder (“Permitted Sales”), each transferee or assignee of any Shares subject to this Agreement shall
continue to be subject to the terms hereof, and, as a condition precedent to the Company’s recognizing such transfer, each transferee or assignee shall agree in writing to be subject to each of the terms of this Agreement by executing and
delivering an Adoption Agreement substantially in the form attached hereto as Exhibit A. Upon the execution and delivery of an Adoption Agreement by any such transferee or assignee, such
transferee or assignee shall be deemed to be a party hereto as if such transferee were the 

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transferor and such transferee’s signature appeared on the signature pages of this Agreement and shall be deemed to be a Stockholder. Other than Permitted Sales, the Company shall not permit the transfer of the Shares subject
to this Agreement on its books or issue a new certificate representing any such Shares unless and until such transferee shall have complied with the terms of this Section 5.2. Except for
certificates representing Shares sold pursuant to Permitted Sales, each certificate representing the Shares subject to this Agreement if issued on or after the date of this Agreement shall be endorsed with the legend set forth in Section 5.12.

          5.6. Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns, heirs, executors, estates, and representatives of the parties.  Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any
rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

          5.7. Governing Law. This Agreement and any controversy arising out of or relating to this Agreement shall be governed by and construed in
accordance with the laws of the State of Nevada, without regard to conflicts of law principles that would result in the application of any law other than the law of the State of Nevada. 

          5.8. Counterparts; Facsimile. This Agreement may be executed and delivered by facsimile signature and in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

          5.9. Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement. 

          5.10. Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed
effectively given:  (a) upon personal delivery to the party to be notified, (b) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (c) one (1) business day after the business day of
deposit with a nationally recognized overnight courier, specifying next business day delivery, with written verification of receipt.  All communications shall be sent to the respective parties at their address as set forth on the signature page
hereto, or to such address as subsequently modified by written notice given in accordance with this Section 5.7. A copy of all notices shall also be sent to Reitler Brown & Rosenblatt
LLC, 800 Third Avenue, 21st Floor, New York, New York 10022, (212) 371-5500, Attention: Robert Steven Brown and if notice is given to the Lane Holders, a copy shall also be given to
____________, if notice is given to the Singh Holders, a copy shall also be given to ________, if notice is given to the Maneesh Holders, a copy shall also be given to Golenbock Eiseman Assor Bell & Peskoe LLP, 437 Madison Avenue
New York, New York 10022, (212) 907 7385, Attention: William G. Pearlstein, Esq., and if notice is given to the IB Holders, a copy shall also be given to ___________________.

          5.11. Amendment or Waiver. This Agreement may be amended or modified and the observance of any term hereof may be waived (either generally or
in a particular instance and 

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either retroactively or prospectively) only by a written instrument executed by all the parties to this Agreement. 

          5.12. Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any
breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein,
or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default previously or thereafter occurring.  Any waiver, permit, consent or approval of
any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent
specifically set forth in such writing.  All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

          5.13. Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

          5.14. Entire Agreement.  This Agreement constitutes the full and entire understanding and agreement between the parties with respect to the
subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties are expressly canceled. 

          5.15. Legend on Share Certificates.    Each certificate representing any Shares issued after the date hereof shall be endorsed by the Company
with a legend reading substantially as follows: 

“THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A VOTING AGREEMENT, AS MAY BE AMENDED FROM TIME TO TIME, (A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST FROM THE COMPANY), AND BY ACCEPTING
ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF THAT VOTING AGREEMENT, INCLUDING CERTAIN RESTRICTIONS ON TRANSFER AND OWNERSHIP SET FORTH THEREIN.” 

     The parties to this Agreement do hereby agree that the failure to cause the certificates evidencing the Shares to bear the legend required by this Section
5.12 herein shall not affect the validity or enforcement of this Agreement. 

          5.16. Stock Splits, Stock Dividends, etc. In the event of any issuance of Shares of the Company’s voting securities hereafter to any of
the Stockholders (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization, or 

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the like), such Shares shall become subject to this Agreement and shall be endorsed with the legend set forth in Section 5.12. 

          5.17. Manner of Voting. The voting of Shares pursuant to this Agreement may be effected in person, by proxy, by written consent or in any
other manner permitted by applicable law.

          5.18. Further Assurances.  At any time or from time to time after the date hereof, the parties agree to cooperate with each other, and at the
request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate the consummation of the transactions
contemplated hereby and to otherwise carry out the intent of the parties hereunder. 

          5.19. Dispute
Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of New York and to the jurisdiction of the United States District Court
for the Southern District of New York for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement
except in the state courts of New York or the United States District Court for the Southern District of New York, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding,
any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of
the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.

          5.20. Costs of Enforcement. If any party to this Agreement seeks to enforce its rights under this Agreement by legal proceedings, the
non-prevailing party shall pay all costs and expenses incurred by the prevailing party, including, without limitation, all reasonable attorneys’ fees. 

          5.18 Rules of Construction. The parties hereto agree that they have been represented by counsel during the negotiation and execution of this
Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document. 

          5.19. Spousal Consent. If any individual Stockholder is married on the date of this Agreement, such Stockholder’s spouse shall execute
and deliver to the Company a consent of spouse in the form of Exhibit B hereto (“Consent of Spouse”), effective on the
date hereof. Notwithstanding the execution and delivery thereof, such consent shall not be deemed to confer or convey to the spouse any rights in such Stockholder’s Shares that do not otherwise exist by operation of law or the agreement of the
parties. If any individual Stockholder should marry or remarry subsequent to the date of this Agreement, such Stockholder shall within thirty (30) days thereafter obtain his/her new spouse’s acknowledgement of and consent to the existence and
binding effect of all restrictions contained in this Agreement by causing such spouse to execute 

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and deliver a Consent of Spouse acknowledging the restrictions and obligations contained in this Agreement and agreeing and consenting to the same. 

 

 

 

 

[Signature Page(s) Follow(s)] 

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

	   	 	STOCKHOLDERS:

	   
	   	   	
RONALD H. LANE, PH.D.:   
	   
	   
	   	 	 
	
Name:   	   	
Ronald H. Lane, Ph.D.   
	
Address:   	   	
3102 North Manor Drive West   
	   	   	
Phoenix, Arizona 85014   
	
Telephone No.:   	   	
602-866-0169   
	
Fax No.:   	   	
602-866-0169   
	   
	   	   	
R H LANE LIMITED PARTNERSHIP:   
	   
	   
	
By:   	   	   
	
Name:   	   	
Ronald H. Lane, Ph.D.   
	
Title:   	   	
General Partner   
	
Address:   	   	
3102 North Manor Drive West   
	   	   	
Phoenix, Arizona 85014   
	
Telephone No.:   	   	
602-866-0169   
	
Fax No.:   	   	
602-866-0169   
	   
	   	   	
2133820 ONTARIO INC.:   
	   
	   
	
By:   	   	   
	
Name:   	   	
Prembala Singh   
	
Title:   	   	   
	
Address:   	   	
c/o Aundhia & Parikh   
	   	   	
265 Rimrock Road, Suite 1   
	   	   	
North York, Ontario MA3C6 Canada   
	
  	 	Attention: Gitu Parikh 

	
Telephone No.:   	   	
416-635-8025   
	
Fax No.:   	   	
416-638-6815   

SIGNATURE PAGE TO VOTING AGREEMENT 

	   	 	HARCHARAN SINGH:

	   
	   
	   	 	 
	
Name:   	   	
Harcharan Singh   
	
Address:   	   	
c/o Aundhia & Parikh   
	
  	 	265 Rimrock Road, Suite 1 

	   	   	
North York, Ontario MA3C6 Canada   
	   	   	
Attention: Gitu Parikh   
	
Telephone No.:   	   	
416-635-8025   
	
Fax No.:   	   	
416-638-6815   
	   
	   	   	
MANEESH PHARMACEUTICALS LTD.   
	   
	   
	
By:   	   	   
	
Name:   	   	   
	
Title:   	   	   
	
Address:   	   	   
	 	 	 
	
Telephone No.:   	   	   
	
Fax No.:   	   	   
	   
	   	   	
SVIZERA HOLDINGS BV:   
	   
	   
	
By:   	   	   
	
Name:   	   	   
	
Title:   	   	   
	
Address:   	   	
Antennestraat 43, Post Box 60300,1320 AY   
	   	 	Almere, The Netherlands

	
Telephone No.:   	   	   
	
Fax No.:   	   	   
	 
	   
	   	   	
VINAY SAPTE:   
	   
	   	 	 
	
Name:   	   	
Vinay Sapte   
	
Address:   	   	   
	   	 	 
	
Telephone No.:   	   	   
	
Fax No.:   	   	   

SIGNATURE PAGE TO VOTING AGREEMENT 

	   	   	
AXIOM CAPITAL MANAGEMENT LLC:   
	   
	   
	
By:   	   	   
	
Name:   	   	   
	
Title:   	   	   
	
Address:   	   	   
	   
	
Telephone No.:   	   	   
	
Fax No.:   	   	   
	 
	 
	   
	   	   	
INDIGO SECURITIES LLC:   
	   
	   
	
By:   	   	   
	
Name:   	   	   
	
Title:   	   	   
	
Address:   	   	   
	   
	
Telephone No.:   	   	   
	
Fax No.:   	   	   

SIGNATURE PAGE TO VOTING AGREEMENT 

EXHIBIT A 

ADOPTION AGREEMENT 

     This Adoption Agreement (“Adoption Agreement”) is executed on ___________________, 20__, by the
undersigned (the “Holder”) pursuant to the terms of that certain Voting Agreement dated as of April [__], 2008 (the “Agreement”), by and among certain of the Stockholders of
Synovics Pharmaceuticals, Inc., as such Agreement may be amended or amended and restated hereafter. Capitalized terms used but not defined in this Adoption Agreement shall have the respective meanings ascribed to such terms in the Agreement.  By the
execution of this Adoption Agreement, the Holder agrees as follows. 

     1.1   Acknowledgement. Holder acknowledges that Holder is acquiring certain shares of the capital stock of the Company
(the “Stock”) as a transferee of Shares from a party bound by the Agreement, and after such transfer, Holder shall be considered a “Stockholder” for all
purposes of the Agreement. 

     1.2   Agreement. Holder hereby (a) agrees that the Stock, and any other shares of capital stock or securities required by
the Agreement to be bound thereby, shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement with the same force and effect as if Holder were originally a party thereto. 

     1.3   Notice. Any notice required or permitted by the Agreement shall be given to Holder at the address or facsimile
number listed below Holder’s signature hereto.

	HOLDER:	 	 
	
By: 	 	 
	
Name and Title of Signatory   
	Address:	 	 
	   	 	 	 	 	 
	Facsimile Number: 	 	 

 

 

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EXHIBIT B 

CONSENT OF SPOUSE 

     I, [____________________], spouse of [______________], acknowledge that I have read the Voting Agreement, dated as of May 8, 2008, to which this Consent is attached as Exhibit B (the “Agreement”), and that I know the contents of the Agreement. I am aware that the Agreement contains provisions regarding
the voting and transfer of shares of capital stock of the Company that my spouse may own, including any interest I might have therein. 

     I hereby agree that my interest, if any, in any shares of capital stock of the Company subject to the Agreement shall be irrevocably bound by the Agreement and further understand and agree that any
community property interest I may have in such shares of capital stock of the Company shall be similarly bound by the Agreement.

     I am aware that the legal, financial and related matters contained in the Agreement are complex and that I am free to seek independent professional guidance or counsel with respect to this Consent. I
have either sought such guidance or counsel or determined after reviewing the Agreement carefully that I will waive such right. 

	
Dated:   	 	   	   
	   	   	
[Name of Key Holder’s Spouse, if any]   

 

 

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Schedule 5.1 

Lane has pledged 500,000 shares of Common Stock to Princeton Holding as collateral, which collateral shall be released on the payment of the final $100,000 of the Princeton Note upon the initial closing of the Series C
Offering. In addition, Lane sold 1,000,000 shares of Common Stock in 2006 on a three year note at $3.00 per share, wherein Lane continues to have beneficial ownership and voting rights until the note is repaid or stock returned and note
cancelled. 

 

 

 

 

 

 

 

 

 

-4-ex106.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Exhibit 10.5

AMENDMENT NO. 1 TO RIGHTS AGREEMENT

      This AMENDMENT NO. 1 (the “Amendment”) to the Rights Agreement (the “Agreement”) entered into as of September 8,
2006, by and between SYNOVICS PHARMACEUTICALS, INC., a Nevada corporation (the “Company”), and CONTINENTAL STOCK TRANSFER & TRUST
COMPANY (the “Rights Agent”), is entered into as of May 9, 2008. 

RECITALS 

     WHEREAS, Section 27 of the Agreement provides that the Company and the Rights Agent shall, if the Company so directs, supplement or amend any provision of the
Agreement without the approval of any holders of the Rights, any such supplement or amendment to be evidenced by a writing signed by the Company and the Rights Agent; 

     WHEREAS, the Company desires to enter into certain agreements with Maneesh Pharmaceuticals Ltd., Svizera Holdings BV (“Svizera”) and their respective
Affiliates (collectively, “Maneesh”) pursuant to which Maneesh, through Svizera, shall invest capital into the Company (the “Maneesh Investment”);

     WHEREAS, the Company desires to enter into certain agreements with Harcharan Singh, 2133820 Ontario, Inc. (“Ontario”) and their respective Affiliates
(collectively, “Singh”) pursuant to which Singh, through Ontario, shall invest capital into the Company (the “Singh Investment”);

      WHEREAS, in connection with the Maneesh Investment and Singh Investment, Maneesh together with Ronald H. Lane, Ph.D. (“Lane”), RH Lane Limited Partnership, Harcharan Singh, 2133820
Ontario, Inc., Maneesh Pharmaceuticals Ltd., Svizera Holdings BV, Vinay Sapte, Axiom Capital Management LLC (“Axiom”) and Indigo Securities LLC (“Indigo”) are parties to a Voting Agreement dated as of the date hereof (the
“Voting Agreement”). 

     WHEREAS, the Company desires to amend the Agreement in the manner set forth in this Amendment to provide that Maneesh, Singh and any of the other parties to the Voting
Agreement and their Affiliates or Associates will not, as a result of the transactions described in Annex A hereto, be deemed an Acquiring Person pursuant to the Agreement, and the Company’s Board of Directors has approved such amendment; and

     WHEREAS, pursuant to Section 27 of the Agreement, the Company has delivered to the Rights Agent a certificate signed by the President and Chief Executive Officer of
the Company certifying that the proposed amendment to the Agreement is in compliance with the terms of Section 27 of the Agreement. 

AGREEMENT 

     NOW, THEREFORE, in consideration of the benefits described in the Recitals hereto and the mutual promises hereinafter set forth, the parties hereto agree as follows:

	1.      	
Except as otherwise defined herein, capitalized terms used but not defined herein shall have the respective meanings given to them in the Agreement.  

	 
	
2.      	Section 1(a) of the Agreement is hereby amended and restated in its entirety as follows: 

“(a) “Acquiring Person” shall mean any Person who or which, together with all Affiliates and Associates of such Person, shall become, at any time after the date of this Rights Agreement (whether or not such status
continues for any period), the Beneficial Owner of shares of Common Stock representing 20% or more of the Common  Stock then outstanding, other than as a result of a Permitted Offer, or any  Person  who or which, on the date hereof, together with
all Affiliates and Associates of such Person, owns in excess of 20% or more of the Common Stock outstanding as of the date hereof, who or which becomes, at any time after the date hereof (whether or not such status continues for any period), the
Beneficial Owner of additional shares of Common Stock representing 1% or more of the Common Stock then outstanding above that number of shares of Common Stock of which such Person, together with all Affiliates and Associates of such Person, was the
Beneficial Owner on the date hereof, other than as a result of a Permitted Offer.  Notwithstanding the foregoing, (A) the term "Acquiring Person" shall not include (i) the Company, any Subsidiary of the Company, or any employee benefit plan of the
Company or any Subsidiary of the Company, or (ii) any Person, which together with all Affiliates and Associates of such Person, shall become the Beneficial Owner of 20% or more of the then outstanding Common Stock as a result  of the  acquisition
of shares of Common Stock directly from the Company following the date hereof  (provided,  however, that if, after such  acquisition,  such Person, or an Affiliate or Associate of such Person, becomes the Beneficial Owner of any additional shares of
Common Stock in an acquisition not made directly from the Company, then such Person shall be deemed an Acquiring Person), or (iii) any Person, which together with all Affiliates and Associates of such Person, owns in excess of 20% or more of the
Common Stock outstanding as of the date hereof, shall become the Beneficial Owner of an additional 1% or more of the then outstanding Common Stock as a result of the acquisition of shares of Common Stock directly from the Company following the date
hereof (provided, however, that if, after such acquisition, such Person, or an Affiliate or Associate of such Person, becomes the Beneficial Owner of any additional shares of Common Stock in an acquisition not made directly from the Company, then
such Person shall be deemed an Acquiring Person) and (B) no Person shall be deemed to be an "Acquiring Person" either (X) as a result of the acquisition of shares of Common Stock by the Company which, by reducing the number of shares of Common Stock
outstanding, increases the proportional number of shares beneficially owned by such Person together with all Affiliates and Associates of such Person; except that if (i) a Person would become an Acquiring Person (but for the operation of this
subclause (X)) as a result of the  acquisition  of shares of Common  Stock by the 

	 	
Company, and (ii) after such share acquisition by the Company, such Person, or an Affiliate or Associate of such Person, becomes the Beneficial Owner of any additional shares of Common Stock, then such Person
shall be deemed an Acquiring Person, or (Y) if (x) (i) such Person, or an Affiliate or Associate of such Person inadvertently becomes the Beneficial Owner of 20% or more of the outstanding Common Stock, (ii) within eight days thereafter such Person
notifies the Board of Directors that such Person did so inadvertently, and (iii) within two days after such notification, such Person is the Beneficial Owner of less than 20% of the outstanding Common Stock, or (y) (i) such Person, together with all
Affiliates and Associates of such Person, that owns in excess of 20% or more of the Common Stock outstanding as of the date hereof, shall inadvertently become the Beneficial Owner of an additional 1% or more of the then outstanding Common Stock,
(ii) within eight days thereafter such Person notifies the Board of Directors that such Person did so inadvertently, and (iii) within two days after such notification, such Person is the Beneficial Owner of less than that number of share of Common
Stock held as of the date hereof plus 1% of the then outstanding Common Stock.

  
	 
	 	
Notwithstanding the foregoing, neither Maneesh, Lane, Singh, Axiom, Indigo nor any Affiliate or Associate thereof shall be deemed to be an Acquiring Person for purposes of this Agreement, but only to the extent
that Maneesh, Lane, Singh, Axiom and Indigo and any of their Affiliates and Associates (i) Beneficially Own shares of the Company’s Common Stock as of May 9, 2008 that have been publicly disclosed pursuant to beneficial ownership reports under
Section 13 of the Exchange Act, (ii) acquire additional shares of the Company’s Common Stock in the transactions described in Annex A hereto, (iii) Beneficially Own shares of the Company’s Common Stock pursuant to or arising out of the
Voting Agreement. In the event that Maneesh, Lane, Singh, Axiom, Indigo or any Affiliate or Associate thereof shall hold any additional shares of the Company’s Common Stock other than as contemplated by the preceding sentence and such holdings,
together with all other holdings of the Company’s Common Stock shall exceed the limitations set forth in the preceding paragraph, then Maneesh, Lane, Singh, Axiom, Indigo or their respective Affiliates or Associates, as the case may be, shall
be deemed an Acquiring Person under this Agreement.

  
	 
	
3.        	
This Amendment shall be deemed to be a contract made under the laws of the state of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such state applicable to
contracts to be made and performed entirely within such state.

  
	 
	
4.        	
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 instrument.

  
	 
	
5.        	
Except as otherwise expressly modified by this Amendment, all provisions of the Agreement shall continue in full force and effect.

  
	 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to Rights Agreement to be duly executed and attested, all as of the day and year first written above.

	
ATTEST:  	   	 	
SYNOVICS PHARMACEUTICALS, INC.   
	   	 	 	 	 	 
	   	 	 	 	 	 
	
By: 	   	   	   	 	
By: 	 
	   	   	Name:   	   	 	
Name: Ronald H. Lane, Ph.D.   

	
   	   	
Title: Assistant Secretary   	   	 	
Title:   Chairman of the Board of Directors, 
  
	   	   	   	   	 	
President, and Chief Executive

	   	   	   	   	 	
Officer   

	   	 	 	 	 	 
	   	 	 	 	 	 
	
ATTEST:       	   	 	
CONTINENTAL STOCK TRANSFER &   
	   	   	   	   	 	
TRUST COMPANY   
	   	 	 	 	 	 
	   	 	 	 	 	 
	   	 	 	 	 	 
	
By: 	   	   	   	 	
By: 	 
	   	   	Name:   	   	 	
Name: 
  
	
   	   	
Title: Assistant Secretary   	   	 	
Title: 
  

ANNEX A 

Notice of Election with respect to the Convertible Promissory Note of Kirk Pharmaceuticals, LLC dated April 3, 2008 issued to Svizera Holdings BV. 

Notice of Election with respect to the Convertible Promissory Note of Kirk Pharmaceuticals, LLC dated April 3, 2008 issued to 2133820 Ontario, Inc.

Subscription Agreement of Svizera Holdings BV dated May 9, 2008. 

Subscription Agreement of 2133820 Ontario, Inc. dated May 9, 2008. 

Conversion of Ronald Lane’s $100,000 of deferred compensation into 200 shares of Series C Preferred Stock and warrants to acquire 100,000 shares of common stock of Synovics Pharmaceuticals, Inc. 

Registration Rights Agreement, dated as of May 9, 2008, by and among Synovics Pharmaceuticals, Inc., Axiom Capital Management, Inc. and the investors named therein. 

Side Letter dated May 9, 2008 between Synovics Pharmaceuticals Inc. and Svizera Holdings BV. 

Voting Agreement dated as of May 9, 2008 between Ronald H. Lane, Ph.D., RH Lane Limited Partnership, Harcharan Singh, 2133820 Ontario, Inc., Maneesh Pharmaceuticals Ltd., Svizera Holdings BV, Vinay Sapte, Axiom Capital Management
LLC and Indigo Securities LLC.

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