Document:

exv10w58

 

Exhibit 10.58

AMENDED AND RESTATED

AKORN, INC.

EMPLOYEE STOCK PURCHASE PLAN

     1. Akorn, Inc. (the “Company”) hereby establishes the Akorn, Inc.
Employee Stock Purchase Plan (the “Plan”) to make possible acquisition of the
common stock of the Company (“Company stock”) at a 15% discount by eligible
employees of the Company and its subsidiaries.

     2. The effective date of the Plan is November 1, 1988, if ratified by the
Company’s shareholders at their October 1988 meeting. The Plan shall continue
until terminated by the Board of Directors of the Company or all shares authorized
to be purchased under this Plan have been purchased.

     3. The total amount of Company stock acquired by Participants through the
Plan shall not exceed one million shares. In the event of any recapitalization,
stock dividend, stock split, combination of shares or other change in the common
stock of the Company, the number of shares of common stock permitted to be
purchased hereunder shall be adjusted in proportion to the change in outstanding shares of common stock. The Company may acquire shares for the Participants by
purchase, either on the open market or in private transactions, by delivery of
treasury shares, or by issuance of new shares. All costs shall be paid by the
Company.

     4. Each person who has been regularly employed (averaging 30 hours or more
per week) by the Company for 12 continuous months through October 31, 1988, or
through the end of any calendar quarter ending thereafter, is eligible to
participate in the Plan. Participation can commence as of the first day of the
month next following the completion of the eligibility requirements, or as of the
first day of any subsequent calendar quarter. References hereafter to calendar
quarters of participation shall include the initial two-month participation period
of November 1 to December 31, 1988.

     5. Each eligible employee becomes a Participant by signing a Purchase
Agreement (a sample of the form of Purchase Agreement is attached to this Plan as
Exhibit A) and delivering it to the Company’s President on or before the last day
of the month preceding the calendar quarter in which participation begins;
provided that the Purchase Agreement for the first participation period (November
1 to December 31, 1988) can be delivered as late as November 10, 1988. A copy of
the Prospectus contained in the Registration Statement prepared in connection with
the Plan shall be given to each eligible employee along with a form of Purchase
Agreement within a reasonable time before the last day preceding the first
calendar quarter in which the employee is eligible to participate.

     6. In his Purchase Agreement, an eligible employee can dedicate a specific
percentage of his semi-monthly paychecks and any cash bonuses to the purchase of
Company stock. The amount dedicated from each paycheck shall not exceed 15% of the
amount of the Participant’s gross compensation used in calculating the amount of
the paycheck.

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     7. The amount withheld during a calendar quarter shall be
applied to acquire Company stock at the end of that calendar quarter. If acquired
by purchase, the Company shall make the purchases for the Participants within the
five business days following the last day of that calendar quarter. If acquired by
delivery of treasury stock or issuance of new shares, the price shall be fixed at
the average of the highest and lowest price at which the Company stock was traded
on the last day of that calendar quarter in which the stock was traded. The
Company shall acquire or issue for each Participant that number of whole shares
that can be acquired at the aforesaid price with the amount equal to 100/85 of the
total amount withheld from the Participant’s paychecks for that calendar quarter.

     8. A Participant can change his election by signing a new Purchase Agreement
effective as of the first day of any calendar quarter if the new Purchase
Agreement is delivered to the Company’s President prior to the commencement of
that calendar quarter.

     9. Each Participant who remains continuously employed through a calendar
quarter shall receive as soon as possible after the end of that quarter
certificates representing the full shares purchased with the amount that has been
withheld from his pay during that quarter pursuant to his Purchase Agreement.

     10. Any Participant who terminates employment for any reason (other than
death) before the end of a calendar quarter shall acquire no Company stock for
that quarter and all amounts withheld from his pay during that quarter for the
purpose of buying Company stock shall be delivered to him.

     11. A Participant can revoke a Purchase Agreement (on a form attached as
Exhibit B) effective as of the pay period following the receipt of the revocation
by the Company’s President. If he does so and remains employed through the end of
the calendar quarter, the amount actually withheld during the quarter pursuant to
his Purchase Agreement shall be applied to the acquisition of Company stock
pursuant to Paragraph 7. If a Participant is an officer or director of the Company
subject to Section 16 of the Securities Exchange Act of 1934 (the “1934 Act”), the
Participant will not be allowed to participate in the Plan for a period of six
months after the effectiveness of a revocation of a Purchase Agreement.

     12. Upon a Participant’s death during a calendar quarter the amount withheld
from his pay during the quarter pursuant to his Purchase Agreement shall be
applied to the purchase of Company stock, and certificates
representing these shares of Company stock shall be delivered by the Company to the Participant’s
succession representative or other successor as soon as convenient after the end
of the quarter in which the death occurs.

     13. No fractional shares shall be issued for a Participant, nor shall any
excess of the purchase price over 100/85 of Participant’s contribution to the cost
of the stock be delivered to him.

     14. The right to receive Company stock is non-transferable, except as
described above in the event of the Participant’s death, and no Company stock
acquired under this

- 2 -

 

Plan may be transferred (other than by gift or inheritance) until one year
following the date the stock is issued unless the Company’s President agrees in
writing to the transfer. If a Participant is an officer or director of the Company
subject to Section 16 of the 1934 Act, no Company stock acquired under the Plan
may be transferred for a period of six months after issuance.

     15. The Plan may be amended by the Company through its Board of Directors, but no
amendment shall have the effect of modifying any Purchase Agreement as to the purchase
of Company stock with funds already withheld unless the affected Participant agrees.
Furthermore, any amendment to the Plan which (a) materially
increases the number of shares which may be acquired through the Plan, (b) materially increases the benefits
accruing to Participants in the Plan, or (c) materially modifies the requirements for
eligibility for participation in the Plan must be approved by the shareholders.

     16. The Plan may be discontinued by the Company at any time. If discontinued
during a calendar quarter (rather than at the end of the quarter) each Participant
shall receive a certificate for that number of whole shares of Company stock which can
be acquired by the amount withheld pursuant to his Purchase Agreement during the
quarter prior to the discontinuance. Such purchases shall be made pursuant to Paragraph
7, except that purchases shall be made within 10 days after the discontinuance, and
treasury or newly- issued shares shall be priced based on the most recent trading date
ending on the date the Plan is terminated. The resulting certificates shall be
distributed within 30 days after the date of the discontinuance.

     17. Any significant Plan date ending on a Saturday, Sunday or holiday shall be
deemed to be the next regular business day.

     18. Notices to the Company shall be effected by delivery in writing to the
Company’s President.

	 	 	 	 	 	 	 
	 	 	AKORN, INC.	 	 
	 
	 	 	 	 	 	 
	

	 	By:	 	 	 	 
	

	 	 	 	

	 	 
	

	 	Date:	 	 	 	 
	

	 	 	 	 	 	 

- 3 -<PAGE>
                                                                  Exhibit 4.5(f)

                                                                  EXECUTION COPY

                              NEW LENDER SUPPLEMENT

                           Dated as of March 31, 2005

         Reference is made to the Amended and Restated Credit Agreement, dated
as of December 12, 2003 (amending and restating the Credit Agreement dated as of
September 30, 1999) (as amended, supplemented, or otherwise modified from time
to time, the "Credit Agreement"), among Tenneco Automotive Inc., a Delaware
corporation (the "Borrower"), the several lenders from time to time parties
thereto (the "Lenders"), JPMorgan Chase Bank, N.A., a national banking
association (as successor to JPMorgan Chase Bank), as administrative agent for
the Lenders (in such capacity, the "Administrative Agent"), and the other
financial institutions named therein as agents for the Lenders (in such
capacity, collectively, the "Other Agents"). Unless otherwise defined herein,
terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement.

         The New Lender identified on Schedule l hereto (the "New Lender"), the
Administrative Agent and the Borrower agree as follows:

         1. The New Lender hereby irrevocably makes a Revolving Commitment to
the Borrower in the amount set forth on Schedule 1 hereto (the "New Commitment")
pursuant to Section 2.6(c) of the Credit Agreement. From and after the Effective
Date (as defined below), the New Lender will be a Lender under the Credit
Agreement with respect to the New Revolving Commitment, which shall be a
Revolving Commitment under the Credit Agreement for all purposes.

         2. The Administrative Agent (a) makes no representation or warranty and
assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with the Credit Agreement or with
respect to the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Agreement; and (b) makes no representation or
warranty and assumes no responsibility with respect to the financial condition
of the Borrower, any of its Subsidiaries or any other obligor or the performance
or observance by the Borrower, any of its Subsidiaries or any other obligor of
any of their respective obligations under the Credit Agreement or any other
instrument or document furnished pursuant hereto or thereto.

         3. The New Lender (a) represents and warrants that it is legally
authorized to enter into this New Lender Supplement; (b) confirms that it has
received a copy of the Credit Agreement, together with copies of the most recent
financial statements delivered pursuant to Section 6.1 of the Credit Agreement
and such other documents and information as it has deemed appropriate to make
its own credit analysis and decision to enter into this New Lender Supplement;
(c) agrees that it will, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Credit Agreement or
any other instrument or document furnished pursuant hereto or

<PAGE>
                                                                               2

thereto; (d) appoints and authorizes the Administrative Agent to take such
action as agent on its behalf and to exercise such powers and discretion under
the Credit Agreement or any other instrument or document furnished pursuant
hereto or thereto as are delegated to the Administrative Agent by the terms
thereof, together with such powers as are incidental thereto; and (e) assumes
and accepts the obligations and rights of a Revolving Lender under the Credit
Agreement and agrees that it will be bound by the provisions of the Credit
Agreement and will perform in accordance with its terms all the obligations
which by the terms of the Credit Agreement are required to be performed by it as
a Lender.

         4. The effective date of this New Lender Supplement shall be the
Effective Date of the New Revolving Commitment described in Schedule 1 hereto
(the "Effective Date"). Following the execution of this New Lender Supplement by
each of the New Lender and the Borrower, it will be delivered to the
Administrative Agent for acceptance and recording by it pursuant to the Credit
Agreement, effective as of the Effective Date (which shall not, unless otherwise
agreed to by the Administrative Agent, be earlier than two Business Days after
the date of such acceptance and recording by the Administrative Agent).

         5. Upon such acceptance and recording, from and after the Effective
Date, the Administrative Agent shall make all payments in respect of the New
Revolving Commitment (including payments of principal, interest, fees and other
amounts) to the New Lender for amounts which have accrued on and subsequent to
the Effective Date.

         6. From and after the Effective Date, the New Lender shall be a party
to the Credit Agreement and, to the extent provided in this New Lender
Supplement, have the rights and obligations of a Lender thereunder and shall be
bound by the provisions thereof.

         7. The New Lender's address for notices for the purposes of the
Agreement is as follows:

                       Wachovia Bank, National Association
                              201 South College St.
                            Charlotte, NC 28244-0002

         8. This New Lender Supplement shall be governed by and construed in
accordance with the laws of the State of New York.

         IN WITNESS WHEREOF, the parties hereto have caused this New Lender
Supplement to be executed as of the date first above written by their respective
duly authorized officers on Schedule 1 hereto.

                     [rest of page intentionally left blank]

<PAGE>

                                   Schedule 1
                            to New Lender Supplement

Name of New Lender: Wachovia Bank, National Association
                    ------------------------------------------------------------

Effective Date of New Revolving Commitment: March 31, 2005
                                            ------------------------------------

Principal Amount of New Revolving Commitment: $25,000,000.00
                                              ----------------------------------

WACHOVIA BANK, NATIONAL                   TENNECO AUTOMOTIVE INC., as
ASSOCIATION, as New Lender                Borrower

By: /s/ Jiong Liu                         By:   /s/ John E. Kunz
   ---------------------------------          ----------------------------------
Name: Jiong Liu                           Name: John E. Kunz
Title: Vice President                     Title: Vice President and Treasurer

Acknowledged to and consented by:

JPMORGAN CHASE BANK, N.A.,                JPMORGAN CHASE BANK, N.A.,
as Administrative Agent                   as Issuing Lender

By:  /s/ Richard W. Duker                 By:   /s/ Richard W. Duker
   ---------------------------------          ----------------------------------
Name: Richard W. Duker                    Name: Richard W. Duker
Title: Managing Director                  Title: Managing Director
<PAGE>
                                                                 EXECUTION COPY

                              NEW LENDER SUPPLEMENT

                           Dated as of March 31, 2005

         Reference is made to the Amended and Restated Credit Agreement, dated
as of December 12, 2003 (amending and restating the Credit Agreement dated as of
September 30, 1999) (as amended, supplemented, or otherwise modified from time
to time, the "Credit Agreement"), among Tenneco Automotive Inc., a Delaware
corporation (the "Borrower"), the several lenders from time to time parties
thereto (the "Lenders"), JPMorgan Chase Bank, N.A., a national banking
association (as successor to JPMorgan Chase Bank), as administrative agent for
the Lenders (in such capacity, the "Administrative Agent"), and the other
financial institutions named therein as agents for the Lenders (in such
capacity, collectively, the "Other Agents"). Unless otherwise defined herein,
terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement.

         The New Lender identified on Schedule l hereto (the "New Lender"), the
Administrative Agent and the Borrower agree as follows:

         1. The New Lender hereby irrevocably makes a Revolving Commitment to
the Borrower in the amount set forth on Schedule 1 hereto (the "New Commitment")
pursuant to Section 2.6(c) of the Credit Agreement. From and after the Effective
Date (as defined below), the New Lender will be a Lender under the Credit
Agreement with respect to the New Revolving Commitment, which shall be a
Revolving Commitment under the Credit Agreement for all purposes.

         2. The Administrative Agent (a) makes no representation or warranty and
assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with the Credit Agreement or with
respect to the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Agreement; and (b) makes no representation or
warranty and assumes no responsibility with respect to the financial condition
of the Borrower, any of its Subsidiaries or any other obligor or the performance
or observance by the Borrower, any of its Subsidiaries or any other obligor of
any of their respective obligations under the Credit Agreement or any other
instrument or document furnished pursuant hereto or thereto.

         3. The New Lender (a) represents and warrants that it is legally
authorized to enter into this New Lender Supplement; (b) confirms that it has
received a copy of the Credit Agreement, together with copies of the most recent
financial statements delivered pursuant to Section 6.1 of the Credit Agreement
and such other documents and information as it has deemed appropriate to make
its own credit analysis and decision to enter into this New Lender Supplement;
(c) agrees that it will, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Credit Agreement or
any other instrument or document furnished pursuant hereto or

<PAGE>
                                                                               2

thereto; (d) appoints and authorizes the Administrative Agent to take such
action as agent on its behalf and to exercise such powers and discretion under
the Credit Agreement or any other instrument or document furnished pursuant
hereto or thereto as are delegated to the Administrative Agent by the terms
thereof, together with such powers as are incidental thereto; and (e) assumes
and accepts the obligations and rights of a Revolving Lender under the Credit
Agreement and agrees that it will be bound by the provisions of the Credit
Agreement and will perform in accordance with its terms all the obligations
which by the terms of the Credit Agreement are required to be performed by it as
a Lender.

         4. The effective date of this New Lender Supplement shall be the
Effective Date of the New Revolving Commitment described in Schedule 1 hereto
(the "Effective Date"). Following the execution of this New Lender Supplement by
each of the New Lender and the Borrower, it will be delivered to the
Administrative Agent for acceptance and recording by it pursuant to the Credit
Agreement, effective as of the Effective Date (which shall not, unless otherwise
agreed to by the Administrative Agent, be earlier than two Business Days after
the date of such acceptance and recording by the Administrative Agent).

         5. Upon such acceptance and recording, from and after the Effective
Date, the Administrative Agent shall make all payments in respect of the New
Revolving Commitment (including payments of principal, interest, fees and other
amounts) to the New Lender for amounts which have accrued on and subsequent to
the Effective Date.

         6. From and after the Effective Date, the New Lender shall be a party
to the Credit Agreement and, to the extent provided in this New Lender
Supplement, have the rights and obligations of a Lender thereunder and shall be
bound by the provisions thereof.

         7. The New Lender's address for notices for the purposes of the
Agreement is as follows:

                              Charter One Bank, NA
                                 71 South Wacker
                                   Suite 2900
                                Chicago, IL 60606

         8. This New Lender Supplement shall be governed by and construed in
accordance with the laws of the State of New York.

         IN WITNESS WHEREOF, the parties hereto have caused this New Lender
Supplement to be executed as of the date first above written by their respective
duly authorized officers on Schedule 1 hereto.

                     [rest of page intentionally left blank]

<PAGE>

                                   Schedule 1
                            to New Lender Supplement

Name of New Lender: Charter One Bank, NA
                    ------------------------------------------------------------

Effective Date of New Revolving Commitment: March 31, 2005
                                            ------------------------------------

Principal Amount of New Revolving Commitment:  $20,000,000.00
                                               ---------------------------------

CHARTER ONE BANK, NA, as New Lender       TENNECO AUTOMOTIVE INC., as Borrower

By:  /s/ Stephanie Epkins                 By:  /s/ John E. Kunz
   ----------------------------------        -----------------------------------
Name: Stephanie Epkins                    Name: John E. Kunz
Title: Vice President                     Title: Vice President and Treasurer

Acknowledged to and consented by:

JPMORGAN CHASE BANK, N.A.,                JPMORGAN CHASE BANK, N.A.,
as Administrative Agent                   as Issuing Lender

By:  /s/ Richard W. Duker                 By:  /s/ Richard W. Duker
   ----------------------------------        -----------------------------------
Name: Richard W. Duker                    Name: Richard W. Duker
Title: Managing Director                  Title: Managing Director

<PAGE>
                                                                  EXECUTION COPY

                              NEW LENDER SUPPLEMENT

                           Dated as of March 31, 2005

         Reference is made to the Amended and Restated Credit Agreement, dated
as of December 12, 2003 (amending and restating the Credit Agreement dated as of
September 30, 1999) (as amended, supplemented, or otherwise modified from time
to time, the "Credit Agreement"), among Tenneco Automotive Inc., a Delaware
corporation (the "Borrower"), the several lenders from time to time parties
thereto (the "Lenders"), JPMorgan Chase Bank, N.A., a national banking
association (as successor to JPMorgan Chase Bank), as administrative agent for
the Lenders (in such capacity, the "Administrative Agent"), and the other
financial institutions named therein as agents for the Lenders (in such
capacity, collectively, the "Other Agents"). Unless otherwise defined herein,
terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement.

         The New Lender identified on Schedule l hereto (the "New Lender"), the
Administrative Agent and the Borrower agree as follows:

         1. The New Lender hereby irrevocably makes a Revolving Commitment to
the Borrower in the amount set forth on Schedule 1 hereto (the "New Commitment")
pursuant to Section 2.6(c) of the Credit Agreement. From and after the Effective
Date (as defined below), the New Lender will be a Lender under the Credit
Agreement with respect to the New Revolving Commitment, which shall be a
Revolving Commitment under the Credit Agreement for all purposes.

         2. The Administrative Agent (a) makes no representation or warranty and
assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with the Credit Agreement or with
respect to the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Agreement; and (b) makes no representation or
warranty and assumes no responsibility with respect to the financial condition
of the Borrower, any of its Subsidiaries or any other obligor or the performance
or observance by the Borrower, any of its Subsidiaries or any other obligor of
any of their respective obligations under the Credit Agreement or any other
instrument or document furnished pursuant hereto or thereto.

         3. The New Lender (a) represents and warrants that it is legally
authorized to enter into this New Lender Supplement; (b) confirms that it has
received a copy of the Credit Agreement, together with copies of the most recent
financial statements delivered pursuant to Section 6.1 of the Credit Agreement
and such other documents and information as it has deemed appropriate to make
its own credit analysis and decision to enter into this New Lender Supplement;
(c) agrees that it will, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and
information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Credit Agreement or
any other instrument or document furnished pursuant hereto or

<PAGE>

                                                                               2

thereto; (d) appoints and authorizes the Administrative Agent to take such
action as agent on its behalf and to exercise such powers and discretion under
the Credit Agreement or any other instrument or document furnished pursuant
hereto or thereto as are delegated to the Administrative Agent by the terms
thereof, together with such powers as are incidental thereto; and (e) assumes
and accepts the obligations and rights of a Revolving Lender under the Credit
Agreement and agrees that it will be bound by the provisions of the Credit
Agreement and will perform in accordance with its terms all the obligations
which by the terms of the Credit Agreement are required to be performed by it as
a Lender.

         4. The effective date of this New Lender Supplement shall be the
Effective Date of the New Revolving Commitment described in Schedule 1 hereto
(the "Effective Date"). Following the execution of this New Lender Supplement by
each of the New Lender and the Borrower, it will be delivered to the
Administrative Agent for acceptance and recording by it pursuant to the Credit
Agreement, effective as of the Effective Date (which shall not, unless otherwise
agreed to by the Administrative Agent, be earlier than two Business Days after
the date of such acceptance and recording by the Administrative Agent).

         5. Upon such acceptance and recording, from and after the Effective
Date, the Administrative Agent shall make all payments in respect of the New
Revolving Commitment (including payments of principal, interest, fees and other
amounts) to the New Lender for amounts which have accrued on and subsequent to
the Effective Date.

         6. From and after the Effective Date, the New Lender shall be a party
to the Credit Agreement and, to the extent provided in this New Lender
Supplement, have the rights and obligations of a Lender thereunder and shall be
bound by the provisions thereof.

         7. The New Lender's address for notices for the purposes of the
Agreement is as follows:

                            Wells Fargo Foothill, LLC
                              2450 Colorado Avenue
                                 Suite 3000 West
                             Santa Monica, CA 90404

         8. This New Lender Supplement shall be governed by and construed in
accordance with the laws of the State of New York.

         IN WITNESS WHEREOF, the parties hereto have caused this New Lender
Supplement to be executed as of the date first above written by their respective
duly authorized officers on Schedule 1 hereto.

                     [rest of page intentionally left blank]

<PAGE>

                                   Schedule 1
                            to New Lender Supplement

Name of New Lender: Wells Fargo Foothill, LLC
                    ------------------------------------------------------------

Effective Date of New Revolving Commitment: March 31, 2005
                                            ------------------------------------

Principal Amount of New Revolving Commitment:  $20,000,000.00
                                               ---------------------------------

WELLS FARGO FOOTHILL, LLC, as New         TENNECO AUTOMOTIVE INC., as Borrower
Lender

By:  /s/ Sanat S. Amladi                  By:   /s/ John E. Kunz
   ----------------------------------         ----------------------------------
Name: Sanat S. Amladi                     Name: John E. Kunz
Title: Vice President                     Title: Vice President and Treasurer

Acknowledged to and consented by:

JPMORGAN CHASE BANK, N.A.,                JPMORGAN CHASE BANK, N.A.,
as Administrative Agent                   as Issuing Lender

By:  /s/ Richard W. Duker                 By:   /s/ Richard W. Duker
   ----------------------------------         ----------------------------------
Name: Richard W. Duker                    Name: Richard W. Duker
Title: Managing Director                  Title: Managing Director

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