Document:

Exhibit3 IFFI 8-K

ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT 
  

     This ASSIGNMENT, ASSUMPTION AND Amendment AGREEMENT, dated as of July 1, 2015 (this “Agreement”), is entered into among INTL FCStone Partners L.P. (formerly known as G.X. CLARKE & CO.) (the “Original Customer”), INTL FCStone Financial Inc. (formerly known as INTL FCStone Securities Inc.) (the “New Customer”) and JPMorgan Chase Bank, N.A. (“JPMCB” and, together with the Original Customer and the New Customer, the “Parties”).
WHEREAS, the Original Customer and JPMCB have entered into (a) that certain Amended and Restated Secured Clearance Advance Facility Agreement, dated as of January 2, 2015 (the “SCAF Agreement”; capitalized terms used but not otherwise defined in this Agreement having the meanings set forth in the SCAF Agreement) and (b) that certain Clearance Agreement, dated as of August 9, 1999 (as amended by that certain Amendment to Clearance Agreement, dated as of June 18, 2014, and that certain Second Amendment to Clearance Agreement, dated as of January 2, 2015, the “Clearance Agreement” and, together with the SCAF Agreement (as amended hereby) and the other Clearance Credit Documents (other than the Parent Guarantee (as defined below)), the “Assumed Agreements”),
WHEREAS, pursuant to that certain Parent Guarantee Agreement, dated as of January 2, 2015 (the “Parent Guarantee”), made by INTL FCStone Inc. (“Parent” or the “Guarantor”) in favor of JPMCB in connection with the SCAF Agreement, the Guarantor unconditionally and irrevocably guaranteed to JPMCB the prompt and complete payment and performance by the Original Customer when due (whether at stated maturity, by acceleration or otherwise) of the Original Customer’s payment obligations (including in respect of fees and expenses) arising under the SCAF Agreement or any other Clearance Credit Document, 
WHEREAS, in accordance with that certain plan of reorganization, adopted by the board of directors of Parent on April 27, 2015, each of the Original Customer, FCStone LLC and FCC Investments, Inc. intend to merge with and into the New Customer with the New Customer surviving as a wholly-owned subsidiary of Parent (collectively, the “Merger Transactions”),
WHEREAS, in connection with the Merger Transactions, the Original Customer wishes to assign to the New Customer, and the New Customer wishes to assume from the Original Customer, all of the Original Customer’s rights and obligations under the Assumed Agreements,
WHEREAS, the terms of the Assumed Agreements prohibit the Original Customer from assigning its rights and obligations under the Assumed Agreements (the “Restriction”),
WHEREAS, JPMCB and the Original Customer desire to waive the Restriction and to allow the Original Customer to assign its rights and obligations under the Assumed Agreements to the New Customer on the terms and conditions contained herein, and
WHEREAS, in connection with the foregoing assignment, the New Customer and JPMCB desire to amend certain terms of the SCAF Agreement as set forth in Section 5 below and to terminate the Parent Guarantee,
ACCORDINGLY, in consideration of the foregoing and the mutual agreements herein contained, the Parties hereby agree as follows:
Section 1.  Assignment of Assumed Agreements.  The Original Customer hereby assigns, transfers, conveys and delivers to the New Customer all of the Original Customer’s right, title and interest in, to and under, and obligations under, each of the Assumed Agreements.

Section 2.  Assumption of Liabilities.  The New Customer hereby accepts the foregoing assignment of all of the Original Customer’s right, title and interest in, to and under each of the Assumed Agreements and assumes the due and punctual payment of the Obligations under the SCAF Agreement (as amended hereby) and all Obligations (as defined in the Clearance Agreement) under the Clearance Agreement, and the due and punctual performance and observation of all of the covenants and other agreements in the Assumed Agreements to be performed or observed by the Original Customer Assignor pursuant thereto.

Section 3.  Waiver; Consent.  Effective as of the Agreement Effective Date (as defined below), JPMCB hereby waives the Restriction with respect to the assignment of the Assumed Agreements by the Original Customer and consents to the foregoing assignment to the New Customer and to the other matters expressly set forth herein, all in accordance with the terms and conditions contained herein.

Section 4.  Parent Guarantee.  Effective as of the Agreement Effective Date, the Parent Guarantee shall be terminated and have no further force and effect and the obligations of the Guarantor under the Parent Guarantee shall be unconditionally released and discharged.

Section 5.  Amendment to the SCAF Agreements.  Effective as of the Agreement Effective Date, the SCAF Agreement shall be amended as follows:

(a)All references to the “Customer” shall be deemed to be to the New Customer.

(b)The definitions of “FOGS Report”, “Liquid Capital”, “Parent Guarantee”, “Parent Guarantee Agreement” and “Total Haircuts” contained in Section 1 (Definitions) of the SCAF Agreement, and all references thereto throughout the SCAF Agreement, shall, in each case, be deleted in their entirety.

(c)The following defined term shall be added in correct alphabetical order to Section 1 (Definitions) of the SCAF Agreement:

“Assignment, Assumption and Amendment Agreement” means that certain Assignment, Assumption and Amendment Agreement, dated as of July 1, 2015, among INTL FCStone Partners L.P. (formerly known as G.X. CLARKE & CO.), the Customer and JPMCB.”
“FOCUS Report” means a Financial and Operational Combined Uniform Single Report required to be filed on a quarterly basis with the SEC or FINRA, or any report that is required in lieu of such report.
(d)Each of the definitions of “Commitment Amount”, “Commitment Termination Date”, “Net Capital” and “Total Ownership Equity” in Section 1 (Definitions) of the SCAF Agreement shall be amended and restated in its entirety and shall be and read as follows, respectively:

		
	(i)
	“Commitment Amount” means $35,000,000 as such amount may be changed from time to time pursuant to Section 5(d) of this Agreement.”

		
	(ii)
	“Commitment Termination Date” means January 4, 2016; provided that, the Commitment Termination Date may be further extended upon the execution of a written instrument by JPMCB and the Customer subject to terms and conditions specified by JPMCB in its sole discretion.”

		
	(iii)
	“Net Capital” means Net Capital as computed in accordance with Rule 15c3-1 under the Exchange Act or any successor rule in effect.

		
	(iv)
	“Total Ownership Equity” means the total ownership equity of the Customer and its consolidated subsidiaries, determined on a consolidated basis in accordance with GAAP; provided that, at JPMCB’s sole discretion, “Total Ownership Equity” as reported in the Customer’s most recent 

FOCUS Report may be deemed to have been determined on a consolidated basis in accordance with GAAP.
 
(e)Section 13(g) (Conditions Precedent to this Agreement) of the SCAF Agreement shall be amended and restated in its entirety and shall be and read as follows:

“the financial statements and FOCUS Reports referenced in Section 15(i) of this Agreement;”
(f)Section 15(i) (Representations and Warranties) of the SCAF Agreement shall be amended and restated in its entirety and shall be and read as follows:

“the Customer has heretofore furnished to JPMCB its (i) annual audited financial statements for the fiscal year ended September 30, 2014, (ii) its FOCUS Reports for the fiscal quarter ended December 31, 2014 and March 31, 2015 and (iii) financial statements giving pro forma effect to the Merger Transactions (as defined in the Assignment, Assumption and Amendment Agreement).  Such annual audited financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the Customer and its consolidated subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes.  Such FOCUS Reports are correct and complete in all material respects and conform in all material respects to the applicable Exchange Act requirements and SEC rules and regulations;”
(g)Section 16(g) (Covenants) of the SCAF Agreement shall be amended and restated in its entirety and shall be and read as follows:

“shall at all times maintain: (i) Total Ownership Equity of not less than $180,000,000.00 and (ii) Net Capital of not less than $100,000,000.00;”
(h)Section 16(h) (Covenants) of the SCAF Agreement shall be deleted in its entirety and replaced with the following:

“[RESERVED]”
(i)Section 16(i) (Covenants) of the SCAF Agreement shall be deleted in its entirety and replaced with the following:

“shall deliver or cause to be delivered to JPMCB:
		
	(i)
	as soon as available, but in any event not later than 90 days after the end of each fiscal year of the Customer, the Customer’s audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by Deloitte & Touche LLP or other independent public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such financial statements present fairly in all material respects the financial position and results of operations of the Customer and its consolidated subsidiaries on a consolidated basis in accordance with GAAP;

		
	(ii)
	as soon as available, but in any event not later than 45 days after the end of each of the first three fiscal quarters of the Customer, the Customer’s FOCUS Report for such fiscal quarter, which report shall be true and complete in all material respects;

		
	(iii)
	as soon as available, but in any event not later than 30 days after the end of each month, the Customer’s FOCUS Report for such month;

		
	(iv)
	concurrently with any delivery of financial statements or a FOCUS Report under clause (i) or (ii) above, a certificate of a Financial Officer (A) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto and (B) setting forth reasonably detailed calculations demonstrating the Customer’s compliance with paragraph (g) of this Section; and

		
	(v)
	promptly following any reasonable request therefor, such other information regarding the operations, business affairs and financial position of the Customer, or compliance with the terms of this Agreement, as JPMCB may reasonably request;”

(j)Section 17(a) (xv) (Events of Default) shall be deleted in its entirety and replaced with the following:
    
“[RESERVED]”.
Section 6.  Effectiveness.  The effectiveness of this Agreement (including, without limitation, the amendments to the SCAF Agreement set forth in Section 5 above) is subject to JPMCB’s receipt of the following in form and substance satisfactory to JPMCB and its counsel (the date on which all of the following shall have been received by JPMCB (or receipt shall have been waived by JPMCB in its sole discretion), the “Agreement Effective Date”):

(a)    a counterpart of this Agreement signed on behalf of each Party hereto (which may include telecopy or electronic transmission of a signed signature page of this Agreement);

(b)    a favorable written opinion (addressed to JPMCB and dated the date hereof) of counsel for the New Customer;

(c)    corporate resolutions of the New Customer authorizing the Transactions;

(d)    a certificate, dated the date hereof, signed by a Financial Officer, confirming that (i) the Merger Transactions have been consummated, (ii) the representations and warranties of the New Customer set forth in the SCAF Agreement (as amended hereby) are true and correct as of the date hereof (after giving effect to the Merger Transactions) and (iii) as of the date hereof (after giving effect to the Merger Transactions), no Default has occurred or is continuing under the SCAF Agreement (as amended hereby);

(e)    (i) the financial statements and FOCUS Reports referred to in Section 5(f) of this Agreement, (ii) in respect of the Original Customer, its annual audited financial statements for the fiscal year ended December 31, 2014 and its FOGS Report for the fiscal quarter ended March 31, 2015 and (iii) in respect of FCStone LLC, its annual audited financial statements for the fiscal year ended September 30, 2014 and its 1-FR Reports for the fiscal quarter ended December 31, 2014 and March 31, 2015; and

(f)    the documentation and other information requested by JPMCB that is required by regulatory authorities under applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), as requested at least three Business Days prior to the date hereof.

Section 7.Miscellaneous.

(a)    The New Customer hereby agrees to deliver (i) within 2 Business Days of the date hereof, written notice to JPMCB that each of the merger certificates in respect of the Merger Transactions have been filed in each of the applicable jurisdictions for such filings and (ii) within 30 calendar days of the date hereof, to JPMCB copies of each accepted merger certificate in respect of the Merger Transactions.  Failure by the New Customer to comply 

with this Section 7(a) shall constitute an Event of Default under Section 17(a)(v) of the SCAF Agreement (as amended hereby).

(b)    Reserved. 

(c)    This Agreement may be executed and delivered in counterparts (through facsimile transmission or otherwise in writing), each such counterpart shall be deemed an original and all such counterparts, together, shall constitute a single agreement.

(d)    This Agreement constitutes the entire agreement of the Parties with respect to its subject matter and supersedes all oral communications and prior writings with respect thereto.  Upon the occurrence off the Agreement Effective Date, the SCAF Agreement shall be modified and amended in accordance with the terms of Section 5 above and shall continue in full force and effect.

(e)    This Agreement shall be construed and interpreted in accordance with the internal laws of the State of New York without giving effect to the conflict of laws principles thereof, except that the foregoing shall not reduce any statutory right to choose New York law or forum.

(f)    This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors and assigns

(g)    The headings used in this Agreement are for convenience of reference only and are not to affect the construction of or to be taken into consideration in interpreting this Agreement.

[SIGNATURE PAGE FOLLOWS]

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

JPMORGAN CHASE BANK, NA                                                     

By:     /s/  Leo Lai    
     Name:      Leo Lai                             
     Title:    Executive Director
JPMorgan Chase                                          

INTL FC STONE PARTNERS L.P.

By:     /s/  Bernard Spanger
    Name:    Bernard Spanger
    Title:        Co-CEO

INTL FCSTONE FINANCIAL INC.

By:     /s/  Charles M. Lyon
    Name:    Charles M. Lyon
    Title:        CEO

[Signature Page to Assignment, Assumption and Amendment Agreement]EX-10.1

 Exhibit 10.1 

AGREEMENT AND FIRST AMENDMENT TO ASSET PURCHASE AGREEMENT 

This Agreement and First Amendment to Asset Purchase Agreement (the “Agreement”) is entered into as of June 30,
2015, by and among Capnia, Inc., a Delaware corporation (“Capnia”), George Tidmarsh, MD, PhD, a resident of [PRIVATE ADDRESS] (“Tidmarsh”), and BioMedical Drug Development Inc. (“BDDI”). 

 W I T N E S S E T H: 

WHEREAS, BDDI and Stryker Corporation (“Stryker”) entered into that certain Asset Purchase agreement dated as of
May 7, 2010 (the “Stryker Purchase Agreement”), between BDDI and Stryker, where, among other matters, BDDI purchased certain assets of Stryker relating to non-invasive end tidal breath gas monitor medical technology known as
the COCO2Puff (the “Technology”) for the payment set forth therein. 

WHEREAS, Capnia and BDDI entered into that certain Asset Purchase Agreement dated as of May 11, 2010 (the “Capnia Purchase
Agreement”), pursuant to which, among other matters, BDDI agreed to sell to Capnia the Technology and BDDI received, among other consideration, certain royalty payments related to the Technology (the “Royalties”). 

WHEREAS, Tidmarsh and BDDI entered into an Asset Purchase Agreement dated as of June 4, 2012 (the “Asset Transfer
Agreement”), pursuant to which, among other matters, the Stryker Purchase Agreement and the Capnia Purchase Agreement were assigned and transferred to Tidmarsh. 

WHEREAS, Capnia and Tidmarsh desire to amend the Capnia Purchase Agreement to remove the provisions related to the Royalties from the
Capnia Purchase Agreement in exchange for the issuance or payment by Capnia to Tidmarsh of (i) 40,000 shares of Capnia’s Common Stock (the “Shares”) and (ii) an aggregate cash payment of $450,000 (the “Cash
Consideration”). 
 NOW, THEREFORE, in the consideration of the premises, mutual covenants and promises hereinafter set
forth, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Amendments. 
 (a)
Section 2 of the Capnia Purchase Agreement is deleted in its entirety and replaced with the following: 
 “2. Buyer Payment
Obligations. Subject to the terms and conditions of this Agreement, if an event occurs that gives rise to a payment obligation under Section 2 of the Original Agreement in connection with the Cash Consideration or the Regulatory
Milestone (each such term, as defined in the Original Agreement, and each such event, a “Payment Condition”, and the date of such event, a “Payment Condition Date”), Buyer shall pay Seller the requisite amount
within thirty (30) business days of the Payment Condition Date, except that payment with respect to the Cash Consideration shall be made 

 
immediately after execution of this Agreement in accordance with Section 5 below. Buyer shall make such payments to Seller by check or wire of immediately available funds to a bank account
designated by Seller.” 
 (b) Section 6 of the Capnia Purchase Agreement is deleted in its entirety and replaced with the
following: 
 “6. Intentionally Deleted.” 

2. Representation and Warranty of Tidmarsh. Tidmarsh represents and warrants to Capnia, and acknowledges that Capnia is relying on such
representations and warranties, as follows: 
 (a) Tidmarsh was, as of the date of the Asset Transfer Agreement, and has been, through the
date hereof, the sole stockholder, security holder and equity holder of BDDI. 
 (b) There were, as of the date of the Asset Transfer
Agreement, and through the date hereof, no creditors of BDDI. 
 (c) The representations and warranties made by BDDI in Section 5 of
the Asset Transfer Agreement were true and correct in all respects as of the date of the Asset Transfer Agreement and are true and correct in all respects as of the date hereof. 

(d) BDDI had, as of the date of the Asset Transfer Agreement, all necessary corporate power and authority to execute and deliver the Asset
Transfer Agreement and to complete the transactions contemplated by the Asset Transfer Agreement, and the execution and performance of the Asset Transfer Agreement by the BDDI did not violate any applicable law, BDDI’s organizational documents
or any agreements by which BDDI was bound. 
 (e) Tidmarsh has good right, title and interest in and to the Stryker Purchase Agreement and
the Capnia Purchase Agreement and all rights, privileges and obligations provided for therein, free and clear from all liens, security interests, mortgages, pledges and encumbrances of any kind. No other person has an interest in or is a party to
the Stryker Purchase Agreement or the Capnia Purchase Agreement, other than Stryker and Capnia, respectively. 
 (f) Tidmarsh has all
necessary corporate power and authority to execute and deliver this Agreement and to complete the transactions contemplated by this Agreement. Tidmarsh has duly and validly executed and delivered this Agreement and, assuming the due authorization,
execution and delivery of this Agreement by Capnia, this Agreement constitutes the legal and valid binding obligation of Tidmarsh enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or
other similar laws relating to creditors’ rights generally and to general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law). No notice to, or consent or approval from, any authority is
required in connection with Tidmarsh’s execution and performance of this Agreement. The execution and performance of this Agreement by Tidmarsh will not violate any applicable law, any organizational documents by which Tidmarsh is bound or any
agreements to which Tidmarsh is bound. 

  
 2 

 (g) Neither the execution and delivery of this Agreement nor any ancillary agreement, nor the
consummation of the transactions contemplated hereby, will conflict with, or (with or without notice or lapse of time, or both) result in a termination, breach, impairment or violation of (i) any provision of any certificate of incorporation or
organizational document by which Tidmarsh is bound, as currently in effect, or (ii) any federal, state, local or foreign judgment, writ, decree, order, statute, rule or regulation applicable to Tidmarsh, the Stryker Purchase Agreement or the
Capnia Purchase Agreement. The consummation of the transactions contemplated hereby and the entry into this Agreement, will not conflict with, result in any breach of, constitute a default (or event which with the giving of notice or lapse of time,
or both, would become a default) under, require any consent under, or give to others any rights of termination, amendment, acceleration, suspension, revocation or cancellation of, or result in the creation of any encumbrance on the Stryker Purchase
Agreement or the Capnia Purchase Agreement, or any portion thereof, pursuant to, any note, bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other instrument or arrangement to which Tidmarsh is a party
or by which the Stryker Purchase Agreement or the Capnia Purchase Agreement, or any portion thereof, is bound or affected. 
 3.
Conditions to Entering into this Agreement in Favor of Capnia. On or before the date hereof, Tidmarsh shall have: (a) paid $400,000 to Stryker in complete satisfaction of BDDI and/or Tidmash’s obligations to Stryker under the
Stryker Purchase Agreement and/or the Transfer Agreement (the “Stryker Payment”), with evidence satisfactory to Capnia of such payment; and (b) obtained a written acknowledgement from Stryker, in a form reasonably acceptable to
Capnia, confirming (i) the receipt of the Stryker Payment, (ii) that the Stryker Payment completely satisfies all of BDDI and/or Tidmash’s obligations to Stryker under Stryker Purchase Agreement, and (iii) Tidmarsh and/or BDDI
are in full compliance with, and no breach has occurred under, the Stryker Purchase Agreement and/or the Transfer Agreement. 
 4.
Consideration. 
 (a) Subject to the satisfaction of the conditions set forth in Section 3 hereof and as consideration for
entering into this Agreement, Capnia agrees to: 
 (i) issue to Tidmarsh the Shares pursuant to a Common Stock Purchase Agreement in
substantially the form attached hereto as Exhibit A; and 
 (ii) pay Tidmarsh the Cash Consideration, which Cash Consideration shall
be payable upon the following terms: 
 (A) $150,000 of the Cash Consideration shall payable by Capnia to Tidmarsh on the date hereof, 

(B) $100,000 of the Cash Consideration shall payable by Capnia to Tidmarsh on the six (6) month anniversary of the date hereof, 

(C) $100,000 of the Cash Consideration shall payable by Capnia to Tidmarsh on the twelve (12) month anniversary of the date hereof, and

  
 3 

 (D) $100,000 of the Cash Consideration shall payable by Capnia to Tidmarsh on the eighteen
(18) month anniversary of the date hereof. 
 (b) Each of Tidmarsh and BDDI acknowledges and agrees that no further consideration,
other than that set forth in Section 4(a), will be owed by Capnia to Tidmarsh or BDDI in exchange for entering into this Agreement and/or the consummation of the transactions or performance of the obligations set forth herein. 

5. Further Assurances. The parties agree that, from time to time, from and after the date hereof, each of them will execute and deliver
such further instruments of conveyance and transfer and take such other action as may be necessary to carry out the purposes and intents of this Agreement. 

6. Miscellaneous. 
 (a)
This Agreement and the Capnia Purchase Agreement (as amended by this Agreement) constitute the full and entire agreement between the parties with regard to the subject matter hereof. This Agreement may not be further amended or modified except upon
a written agreement signed by the parties. 
 (b) This Agreement shall be construed in accordance with and governed by the law of the State
of California, without regard to the conflicts of law rules of such state. 
 (c) This Agreement may be executed in any number of
counterparts, each of which shall be an original, with the same effect as if the signatures thereto were upon the same instrument. This Agreement shall become effective when each party shall have received a counterpart hereof signed by the other
parties. 
 [Signature page follows.] 

  
 4 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement and First Amendment to Asset
Purchase Agreement as of the date first set forth above. 
  

			
	CAPNIA, INC.
		
	By:		  /s/ Anish Bhatnagar

 
			
	Name:		Anish Bhatnagar
	Title:		Chief Executive Officer

  

			
	GEORGE TIDMARSH, MD, PHD
		
	By:		  /s/ George Tidmarsh

  

			
	BIOMEDICAL DRUG DEVELOPMENT INC.
		
	By:		  /s/ George Tidmarsh

 
			
	Name:		George Tidmarsh
	Title:		Chief Executive Officer

  
 [Signature Page to
Agreement and First Amendment to Asset Purchase Agreement] 

 Exhibit A 

Common Stock Purchase Agreement

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