Document:

EXHIBIT 4.2(a)

 

AMENDMENT NO. 1

TO SECOND AMENDED AND RESTATED

REGISTRATION RIGHTS AGREEMENT

 

This Amendment No. 1 to Second Amended and Restated Registration Rights
Agreement, dated May 13, 2005 (this “Amendment”), by and among Reliant
Pharmaceuticals, Inc., a Delaware corporation (successor in interest to Reliant
Pharmaceuticals, LLC) (the “Corporation”), and the holders of
Registrable Securities signatory to the Original Agreement (as defined below).

 

RECITALS

 

WHEREAS, the Corporation and certain stockholders
of the Corporation are parties to a Second Amended and Restated Registration
Rights Agreement, dated as of September 25, 2003, (the “Original Agreement”), which sets forth
certain rights and obligations with respect to the registration of the Corporation’s
equity securities; and

 

WHEREAS, in accordance with the requirements of Section 11.3 of
the Original Agreement, the parties wish to amend certain defined terms in the
Original Agreement as more particularly set forth herein.

 

NOW,
THEREFORE, in consideration of the recitals and the mutual premises, covenants
and agreements contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:

 

1.                                       Definitions.
Capitalized terms used but not defined herein shall have the respective
meanings given to such terms in the Original Agreement, except as amended
hereby.

 

2.                                       Amendment
to Section 1 – Definitions.

 

(a)                                  The
following defined terms are hereby added to in Section 1 of the Original
Agreement:

 

“Common Stock” means the common stock
of the Company.

 

“Stockholders’ Agreement”
means the Stockholders’ Agreement of the Company, dated as of April 1, 2004,
between the Corporation and its stockholders as the same shall be amended from
time to time.

 

(b)                                 The
following defined terms are hereby deleted in Section 1 of the Original
Agreement:

 

(i) “Common Units”; and

 

(ii) “ Operating Agreement”.

 

 

Any and all references to the “Operating
Agreement” in the Original Agreement are hereby replaced with “Stockholders’
Agreement” and any and all references to “Transferee” (as defined in Article IX
of the Operating Agreement) in the Original Agreement are hereby replaced with “transferee”
as such term is used in Section 8 the Stockholders’ Agreement.

 

(c)                                  The
following defined terms in Section 1 of the Original Agreement are
hereby deleted, and amended and restated in their entirety to read as follows:

 

“Registrable Securities” means
at any time, any of the following owned by any equity holder of the Company
party to this Agreement: (i) any common equity securities of the Company
issuable upon conversion or exchange of the Preferred Units, or issuable or
issued upon conversion or exchange of other equity securities of the Company
into which the Preferred Units shall be reclassified or changed, including by
reason of a merger, consolidation, reorganization, recapitalization or
statutory conversion then outstanding which are then owned by any stockholder,
including any other Person who is a permitted transferee of such holder under
the terms of the Stockholders’ Agreement; (ii) any common equity securities of
the Company then outstanding which were issued as, or were issued directly or
indirectly upon the conversion, exchange or exercise of other equity securities
issued or issuable as a dividend, stock split or other distribution with
respect or in replacement of any equity securities referred to in (i) of this
definition; (iii) any common equity securities of the Company then issuable
directly or indirectly upon the conversion, exchange or exercise of other
equity securities which were issued as a dividend or other distribution with
respect to or in replacement of any equity securities referred to in clause (i)
of this definition and (iv) any common equity securities of the Company issued
upon the exercise of the Warrants and any other common equity securities which
were issued as a dividend or other distribution with respect to or in
replacement of any equity securities issued upon exercise of the Warrants; provided, however, that Registrable Securities shall not
include any equity securities which have been registered pursuant to the
Securities Act or which have been sold to the public pursuant to Rule 144 of
the Commission under the Securities Act.

 

“Warrants”
means (a) the Common Unit Purchase Warrant, dated July 6, 2000, issued by the
Company to The Bay City Capital Fund II, L.P. for the purchase of up to
2,181,016 Class One Common Units (which warrant was exercised in full on July
24, 2000); (b) the Common Stock Purchase Warrant, dated effective December 18,
2001, issued by the Company to PharmBay Investors, L.L.C. for the purchase of
up to 416,667 shares of Common Stock; (c) the Common Stock Purchase Warrant,
dated effective December 18, 2001, issued by the Company to The Bay City
Capital Fund III, L.P. for the purchase of up to 399,209 shares of Common
Stock; (d) the Common Stock Purchase Warrant, dated effective December 18,
2001, issued by the Company to Bay City Capital Fund III Coinvestment Fund,
L.P. for the purchase of up to 17,458 shares of Common Stock; (e) the Common
Stock Purchase Warrants issued by the Company in connection with that certain
Third-Lien Credit and Guaranty Agreement, dated as of April 13, 2005, among the
Company, certain subsidiaries of the Company, various lenders, and Goldman
Sachs Credit Partners, L.P. (the “Third-Lien Credit Agreement”); and/or
(f) additional common stock purchase warrants which made be issued by the

 

2

 

Company in connection with that certain Letter Agreement, dated April
13, 2005, among the Company and the lenders party to the Third-Lien Credit
Agreement.

 

3.                                       No
Other Amendments; Entire Agreement. Except as specifically amended hereby,
the Original Agreement shall continue in full force and effect as written. The Original Agreement (as amended hereby)
and the applicable subscription, purchase, option, restricted stock and other
agreements and the Stockholders’ Agreement (and any other agreements contemplated
hereby or thereby) among the Corporation and any holder of Registrable
Securities party hereto, constitute the entire agreement among the parties with
respect to the subject matter hereof and supersede all prior agreements,
understandings and negotiations, both written and oral, between the parties
with respect to the subject matter hereof or thereof. All references in
the Original Agreement to “this Agreement,” “herein,” “hereof,” “hereby” and
words of similar import shall refer to the Original Agreement as amended
hereby.

 

4.                                       Governing
Law. This Amendment shall be construed in accordance with and governed by
the law of the State of Delaware without regard to the conflicts of law
principles thereof.

 

5.                                       Consent
to Jurisdiction/Waiver of Jury Trial. Except as otherwise provided in the
Original Agreement, any controversy or dispute arising out of this Amendment,
interpretation of any of the provisions hereof, or the action of any party
hereunder shall be subject to the provisions of Sections 11.8 (Consent
to Jurisdiction) and 11.9 (Waiver of Jury Trial) of the Original
Agreement.

 

6.                                       Successors
and Assigns. Subject to the other provisions hereof, the provisions of this
Amendment shall be binding upon and inure to the benefit of the parties hereto
and their respective permitted successors and assigns.

 

7.                                       Severability.
Whenever possible, each provision of this Amendment will be interpreted in such
manner as to be effective and valid under applicable law, but if any provision
of this Amendment is held to be prohibited by or invalid under applicable law,
such provision will be ineffective only to the extent of such prohibition or
invalidity, without invalidating the remainder of this Amendment.

 

8.                                       Descriptive
Headings. The descriptive headings in this Amendment are included for
convenience or reference only and shall be ignored in the construction or
interpretation hereof.

 

9.                                      Execution
in Counterparts. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be deemed an
original, and such counterparts together shall constitute one instrument.

 

3

 

IN WITNESS WHEREOF, the parties hereto have
duly executed this Amendment No. 1 as of the date first above written.

 

	
   

  	
  THE
  CORPORATION:

  
	
   

  	
   

  
	
   

  	
  RELIANT PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   Title:

  

 

 

[Signature Page to Amendment
No. 1 to Second Amended and Restated

Registration Rights
Agreement]Exhibit 4.3

 

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH
THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND
EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON
AN EXEMPTION FROM REGISTRATION UNDER SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREUNDER AND IN
COMPLIANCE WITH APPLICABLE STATE SECURITIES OR BLUE SKY LAWS.

 

RELIANT
PHARMACEUTICALS, INC.

 

COMMON
STOCK PURCHASE WARRANT

 

	
  Warrant No.

  	
   

  	
  Dated of Issue: April    , 2005

  

 

Reliant Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), hereby certifies that, for value received,
[                                ],
or its permitted registered successors and assigns (“Holder”), is
entitled, subject to the terms set forth below, to purchase from the Company up
to a total of [                    ]
shares of common stock, $.01 par value per share (the “Common Stock”),
of the Company (each such share, a “Warrant Share” and all such shares,
the “Warrant Shares”). The initial “Exercise Price” for Warrant
Shares shall be $20.00/share and shall be subject to adjustment from time to
time as provided in Section 7. The Holder may acquire Warrant Shares under this
Warrant at such times as is provided for in Section 3(a) hereof.

 

This Warrant is issued by the Company to the Holder
in connection with that certain Third-Lien Credit and Guaranty Agreement, dated
as of April     , 2005, among the Company, certain
subsidiaries of the Company, various lenders, and Goldman Sachs Credit
Partners, L.P. (the “Third-Lien Credit Agreement”).

 

This Warrant shall be subject to the following terms
and conditions:

 

1. Registration of Warrant. The Company shall
register this Warrant, upon records to be maintained by the Company for that
purpose (the “Warrant Register”), in the name of the record Holder
hereof from time to time. Except as provided in Section 2 below, the Company
may deem and treat the registered Holder of this Warrant as the absolute owner
hereof for the purpose of any exercise hereof or any distribution to the
Holder, and for all other purposes, and the Company shall not be affected by
notice to the contrary.

 

2. Transferability; Registration of Transfers and
Exchanges.

 

(a) Each Holder of this Warrant acknowledges that
this Warrant, the Warrant Stock and the Common Stock of the Company have not
been registered under the Securities Act

 

 

of
1933, as amended, (the “Securities Act”). Each Holder agrees not to
sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this
Warrant, any Warrant Shares issued upon its exercise or any other Common Stock
of the Company in the absence of (i) an effective registration statement under
the Securities Act as to this Warrant, such Warrant Shares or such Common Stock
and registration or qualification of this Warrant, such Warrant Shares or such
Common Stock under any applicable United States federal or state securities law
then in effect, or (ii) an opinion of counsel, satisfactory to the Company,
that such registration and qualification are not required. Each certificate or
other instrument for Warrant Shares issued upon the exercise of this Warrant
shall bear a legend substantially to the foregoing effect.

 

(b) Subject to the provisions of Section 2(a)
hereof and the terms of the Stockholders’ Agreement, this Warrant and all
rights hereunder are transferable, in whole or in part, upon surrender of the
Warrant with a properly executed Form of Assignment attached hereto at the
principal office of the Company. Transfer of the Warrant, in whole or in part,
shall not effect the Holder’s interest and/or rights in and obligations under
the Third-Lien Credit Agreement.

 

(c) The Company shall register the transfer of any
portion of this Warrant in the Warrant Register, upon surrender of this
Warrant, with the Form of Assignment attached hereto duly completed and signed,
to the Transfer Agent or to the Company at its address for notice set forth in
Section 10. Upon any such registration or transfer, a new warrant to purchase
Common Stock, in substantially the form of this Warrant (any such new warrant,
a “New Warrant”), evidencing the portion of this Warrant so transferred
shall be issued to the transferee and a New Warrant evidencing the remaining
portion of this Warrant not so transferred, if any, shall be issued to the
transferring Holder. The acceptance of the New Warrant by the transferee
thereof shall be deemed the acceptance of such transferee of all of the rights
and obligations of a holder of a Warrant.

 

(d) This Warrant is exchangeable, upon the surrender
hereof by the Holder to the office of the Company at its address for notice set
forth in Section 10 for one or more New Warrants, evidencing in the aggregate
the right to purchase the number of Warrant Shares which may then be purchased
hereunder. Any such New Warrant will be dated the date of such exchange.

 

(e) This Warrant has been issued subject to certain
investment representations of the original Holder set forth in the Third Lien
Credit Agreement and may only be transferred or exchanged in compliance with
the transfer restrictions contained therein.

 

(f) As a condition to the initial exercise of this
Warrant (or any New Warrant), Holder shall execute a joinder to the
Stockholders’ Agreement of the Company, if any, as then in effect (the “Stockholders’
Agreement”), agreeing to be bound as a stockholder holding Common Stock
thereunder.

 

(g) The Company shall use its commercially
reasonable efforts to amend the Second Amended and Restated Registration Rights
Agreement of the Company dated as of September 25, 2003 (as the same may be
amended from time to time, the “Registration Rights Agreement”) to
include the Warrant Shares in the definition of Warrant Units thereunder. In
the event that the Company is not successful in effecting such amendment within
ninety (90) days following the date hereof, then within one hundred and twenty
(120) days following the date

 

2

 

hereof,
the Company shall enter into a new registration rights agreement with respect
to the Warrant Shares with the holders of Warrants issued pursuant to or in
connection with the Third Lien Credit Agreement on terms substantially similar
to the Registration Rights Agreement (the “New RRA”). The Holder, once
he or it executes a joinder to the Registration Rights Agreement or the New
RRA, as applicable, shall be entitled to registration rights in respect of the
Warrant Shares pursuant to the terms and conditions of that certain
Registration Rights Agreement or the New RRA, as applicable

 

3. Duration and Exercise of Warrants.

 

(a) This Warrant shall be exercisable by the
registered Holder on any business day before 5:00 P.M. Eastern time, and from
time to time from and after the date hereof and through and including April     ,
2015 (the “Expiration Date”). At 5:00 P.M., Eastern time on the
Expiration Date, the portion of this Warrant not exercised prior thereto shall
be and become void and of no value. Prior to the Expiration Date, the Company
may not call or otherwise redeem this Warrant without the prior written consent
of the Holder.

 

(b) Upon surrender of this Warrant, with the Form of
Election to Purchase attached hereto and a joinder to the Stockholders
Agreement as required by Section 2(f) above each duly completed and signed, to
the Company at its address for notice set forth in Section 10 and upon payment
of the Exercise Price multiplied by the number of Warrant Shares that the
Holder intends to purchase hereunder, in the manner provided hereunder, all as
specified by the Holder in the Form of Election to Purchase, the Company shall
promptly (but in no event later than five (5) business days after the Date of
Exercise (as defined herein)) issue or cause to be issued and cause to be
delivered to or upon the written order of the Holder and in such name or names
as the Holder may designate, a certificate for the Warrant Shares issuable upon
such exercise, free of restrictive legends except (i) either in the event that
a registration statement covering the resale of the Warrant Shares and naming
the Holder as a selling stockholder thereunder is not then effective or the
Warrant Shares are not freely transferable without volume restrictions pursuant
to Rule 144(k) promulgated under the Securities Act of 1933, as amended (the “Securities
Act”), (ii) if this Warrant shall have been issued pursuant to a written
agreement between the original Holder and the Company, as required by such
agreement or (iii) as provided in the Stockholders Agreement or the
Registration Rights Agreement or New RRA, as applicable. Any person so
designated by the Holder to receive Warrant Shares shall be deemed to have
become the holder of record of such Warrant Shares as of the Date of Exercise
of this Warrant.

 

(c) A “Date of Exercise” means the date on
which the Company shall have received (i) this Warrant (or any New Warrant, as
applicable) with the Form of Election to Purchase attached hereto (or attached
to such New Warrant) appropriately completed and duly signed, and (ii) payment
of the Exercise Price for the number of Warrant Shares so indicated by the
Holder hereof to be purchased.

 

(d) This Warrant shall be exercisable, either in its
entirety or, from time to time, for a portion of the number of Warrant Shares
representing not less than 10% of the original Warrant Shares or such lesser
amount as is then remaining available for exercise. If less than all of the
Warrant Shares which may be purchased under this Warrant are purchased at any
time, the Company shall issue or cause to be issued, at its expense, a New
Warrant evidencing the right to purchase the remaining number of Warrant Shares
for which no exercise has been evidenced by this Warrant.

 

3

 

4. Payment of Taxes. The Company will pay all
documentary stamp taxes attributable to the issuance of Warrant Shares upon the
exercise of this Warrant; provided, however, that the Company shall not be
required to pay any tax which may be payable in respect of any transfer
involved in the registration of any certificates for Warrant Shares or Warrants
in a name other than that of the Holder. The Holder shall be responsible for
all other tax liability that may arise as a result of holding or transferring
this Warrant or receiving Warrant Shares upon exercise hereof.

 

5. Replacement of Warrant. If this Warrant is
mutilated, lost, stolen or destroyed, the Company shall issue or cause to be
issued in exchange and substitution for and upon cancellation hereof, or in
lieu of and substitution for this Warrant, a New Warrant, but only upon receipt
of evidence reasonably satisfactory to the Company of such loss, theft or
destruction and indemnity, if requested, satisfactory to it. Applicants for a
New Warrant under such circumstances shall also comply with such other
reasonable regulations and procedures and pay such other reasonable charges as the
Company may prescribe.

 

6. Reservation of Warrant Shares. The Company
covenants that it will at all times reserve and keep available out of the
aggregate of its authorized but unissued Common Stock, solely for the purpose
of enabling it to issue Warrant Shares upon exercise of this Warrant as herein
provided, the number of Warrant Shares which are then issuable and deliverable
upon the exercise of this entire Warrant, free from preemptive rights or any
other actual or contingent purchase rights of persons other than the Holder
(taking into account the adjustments and restrictions of Section 7). The
Company covenants that all Warrant Shares that shall be so issuable and
deliverable shall, upon issuance and the payment of the applicable Exercise
Price in accordance with the terms hereof, be duly and validly authorized,
issued and fully paid and nonassessable.

 

7. Certain Adjustments. The Exercise Price
and number of Warrant Shares issuable upon exercise of this Warrant are subject
to adjustment from time to time as set forth in this Section 7. Upon each such
adjustment of the Exercise Price pursuant to this Section 7, the Holder shall
thereafter prior to the Expiration Date be entitled to purchase, at the
Exercise Price resulting from such adjustment, the number of Warrant Shares
obtained by multiplying the Exercise Price in effect immediately prior to such
adjustment by the number of Warrant Shares issuable upon exercise of this
Warrant immediately prior to such adjustment and dividing the product thereof
by the Exercise Price resulting from such adjustment.

 

(a) If the Company, at any time while this Warrant
is outstanding, (i) shall pay a stock dividend (except scheduled dividends paid
on preferred stock which contain a stated dividend rate) or otherwise make a
distribution or distributions on shares of its Common Stock or on any other
class of capital stock payable in shares of Common Stock, (ii) subdivide
outstanding shares of Common Stock into a larger number of shares, or (iii)
combine outstanding shares of Common Stock into a smaller number of shares,
then the Exercise Price shall be multiplied by a fraction, of which the
numerator shall be the number of shares of Common Stock (excluding treasury
shares, if any) outstanding before such event and of which the denominator
shall be the number of shares of Common Stock (excluding treasury shares, if
any) outstanding

 

4

 

after
such event. Any adjustment made pursuant to this Section shall become effective
immediately after the record date for the determination of stockholders
entitled to receive such dividend or distribution and shall become effective
immediately after the effective date in the case of a subdivision or
combination, and shall apply to successive subdivisions and combinations.

 

(b) In case of any reclassification of the Common
Stock or any compulsory share exchange pursuant to which the Common Stock is
converted into other securities, cash or property, then the Holder shall have
the right thereafter to exercise this Warrant only into the shares of stock and
other securities and property receivable upon or deemed to be held by holders
of Common Stock following such reclassification or share exchange, and the
Holder shall be entitled upon such event to receive such amount of securities
or property equal to the amount of Warrant Shares such Holder would have been
entitled to had such Holder exercised this Warrant immediately prior to such
reclassification or share exchange. The terms of any such reclassification or
share exchange shall include such terms so as to continue to give to the Holder
the right to receive the securities or property set forth in this Section 7(b)
upon any exercise following any such reclassification or share exchange.

 

(c) If the Company, at any time while this Warrant
is outstanding, shall distribute to all holders of Common Stock (and not to the
Holder of this Warrant) evidences of its indebtedness or assets (including
cash) or rights or warrants to subscribe for or purchase any security
(excluding those referred to in Sections 7(a), (b) and (d)), then in each such
case the Exercise Price shall be determined by multiplying the Exercise Price
in effect immediately prior to the record date fixed for determination of
stockholders entitled to receive such distribution by a fraction the numerator
of which shall be the Exercise Price on such record date less the then fair
market value at such record date of the portion of such assets or evidence of
indebtedness so distributed applicable to one outstanding share of Common Stock
as determined by the Board of Directors of the Company in good faith and the
denominator of which shall be the Exercise Price determined as of the record
date mentioned above.

 

(d) If the Company or any subsidiary thereof, as
applicable with respect to Common Stock Equivalents (as defined below), at any
time while this Warrant is outstanding, shall issue shares of Common Stock or
rights, warrants, options or other securities or debt that is convertible into
or exchangeable for shares of Common Stock (“Common Stock Equivalents”),
to any Person (other than the Holder of this Warrant), entitling such Person to
acquire shares of Common Stock at a price per share less than the Exercise
Price (if the holder of the Common Stock or Common Stock Equivalent so issued
shall at any time, whether by operation of purchase price adjustments, reset
provisions, floating conversion, exercise or exchange prices or otherwise, or
due to warrants, options or rights issued in connection with such issuance, be
entitled to receive shares of Common Stock at a price less than the Exercise
Price, such issuance shall be deemed to have occurred for less than the
Exercise Price), then the Exercise Price shall be multiplied by a fraction, the
numerator of which shall be the number of shares of Common Stock outstanding
immediately prior to the issuance of such Common Stock or such Common Stock
Equivalents plus the number of shares of Common Stock which the offering price
for such shares of Common Stock or Common Stock Equivalents would purchase at
the Exercise Price, and the denominator of which shall be the sum of the number
of shares of Common Stock outstanding immediately prior to such issuance plus
the number of shares of Common Stock so issued or issuable, provided
that for purposes hereof, all shares of Common Stock that are

 

5

 

issuable
upon conversion, exercise or exchange of Common Stock Equivalents shall be
deemed outstanding immediately after the issuance of such Common Stock
Equivalents. Such adjustment shall be made whenever such Common Stock or Common
Stock Equivalents are issued. However, upon the expiration of any Common Stock
Equivalents the issuance of which resulted in an adjustment in the Exercise
Price pursuant to this Section, if any such Common Stock Equivalents shall
expire and shall not have been exercised, the Exercise Price shall immediately
upon such expiration be recomputed and effective immediately upon such
expiration be increased to the price which it would have been (but reflecting
any other adjustments in the Exercise Price made pursuant to the provisions of
this Section after the issuance of such Common Stock Equivalents) had the
adjustment of the Exercise Price made upon the issuance of such Common Stock
Equivalents been made on the basis of offering for subscription or purchase
only that number of shares of the Common Stock actually purchased upon the
exercise of such Common Stock Equivalents actually exercised. The foregoing shall
not apply to any (i) issuances of securities as consideration in a
merger, consolidation or acquisition of assets, or in connection with any
strategic partnership or joint venture, or as consideration for the acquisition
of a business, product or license by the Company, (ii) the issuance of
securities upon the exercise or conversion of the Company’s options, warrants
or other convertible securities outstanding as of the date hereof, or (iii) the
grant of options or warrants, or the issuance of additional securities, under
any duly authorized Company stock option, restricted stock plan or stock
purchase plan for the benefit of the Company’s employees.

 

(e) In case of any (1) merger or consolidation of
the Company with or into another Person, or (2) sale by the Company of more
than fifty percent 50% of the assets of the Company (based upon their then fair
market value) in one or a series of related transactions, the Holder shall have
the right at all times from and after the date of such merger, sale or consolidation,
as the case may be, to and including the Expiration Date, to exercise this
Warrant for the shares of stock and other securities, cash and property
receivable upon or deemed to be held by holders of Common Stock immediately
following such merger, consolidation or sale, and the Holder shall be entitled
upon such event or series of related events to receive such amount of
securities, cash and property as the Common Stock for which this Warrant could
have been exercised immediately prior to such merger, consolidation or sales
would have been entitled. The terms of any such merger, sale or consolidation
shall include such terms so as to continue to give the Holder the right to
receive the securities, cash and property set forth in this Section upon any
conversion or redemption following such event. This provision shall similarly
apply to successive such events.

 

(f) For the purposes of this Section 7, the
following clauses shall also be applicable:

 

(i) Record Date. In case the Company shall
take a record of the holders of its Common Stock for the purpose of entitling
them (A) to receive a dividend or other distribution payable in Common Stock or
in securities convertible or exchangeable into shares of Common Stock, or (B)
to subscribe for or purchase Common Stock or securities convertible or
exchangeable into shares of Common Stock, then such record date shall be deemed
to be the date of the issue or sale of the shares of Common Stock deemed to
have been issued or sold upon the declaration of such dividend or the making of
such other distribution or the date of the granting of such right of
subscription or purchase, as the case may be.

 

6

 

(ii) Treasury Shares. The number of shares of
Common Stock outstanding at any given time shall not include shares owned or
held by or for the account of the Company, and the disposition of any such
shares shall be considered an issue or sale of Common Stock.

 

(g) All calculations under this Section 7 shall be
made to the nearest cent or the nearest 1/100th of a share, as the case may be.

 

(h) The Holder shall promptly mail or cause to be
mailed to the Company, a notice setting forth the Exercise Price after such
adjustment and setting forth a brief statement of the facts requiring such
adjustment. Such adjustment shall become effective immediately after the record
date mentioned above.

 

(i) If:

 

 

	
   

  	
  (i)

  	
   

  	
  the
  Company shall declare a dividend (or any other distribution) on its Common
  Stock; or

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (ii)

  	
   

  	
  the
  Company shall declare a special nonrecurring cash dividend on or a redemption
  of its Common Stock; or

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (iii)

  	
   

  	
  the
  Company shall authorize the granting to all holders of the Common Stock
  rights or warrants to subscribe for or purchase any shares of capital stock
  of any class or of any rights; or

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (iv)

  	
   

  	
  the
  approval of any stockholders of the Company shall be required in connection
  with any reclassification of the Common Stock, any consolidation or merger to
  which the Company is a party, any sale or transfer of all or substantially
  all of the assets of the Company, or any compulsory share exchange whereby
  the Common Stock is converted into other securities, cash or property; or

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (v)

  	
   

  	
  the
  Company shall authorize the voluntary dissolution, liquidation or winding up
  of the affairs of the Company,

  

 

then
the Company shall cause to be mailed to the Holder at its last address as it
shall appear upon the Warrant Register, at least twenty (20) calendar days
prior to the applicable record or effective date hereinafter specified, a
notice stating (x) the date on which a record is to be taken for the purpose of
such dividend, distribution, redemption, rights or warrants, or if a record is
not to be taken, the date as of which the holders of Common Stock of record to
be entitled to such dividend, distributions, redemption, rights or warrants are
to be determined or (y) the date on which such reclassification, consolidation,
merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of Common Stock of
record shall be entitled to exchange their shares of Common Stock for
securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer, share exchange, dissolution, liquidation
or winding up; provided, however, that the failure to mail such
notice or any defect therein or in the mailing thereof shall not affect the
validity of the corporate action required to be specified in such notice.

 

7

 

8. Payment of Exercise Price. The Holder
shall pay the Exercise Price in one of the following manners:

 

(a) Cash Exercise. The holder may deliver
immediately available funds; or

 

(b) Cashless Exercise.

 

(i) In lieu of exercising this Warrant in the manner
provided above in Section 1(a), the Holder may elect to receive Warrant
Shares equal to the value of this Warrant (or the portion thereof being
exercised) by surrender of this Warrant at the principal office of the Company,
together with notice of such election, in which event the Company shall issue
to such Holder a number of shares of Warrant Shares computed using the
following formula:

 

	
   

  	
  X = 

  	
  Y (A - B)

  	
   

  
	
   

  	
   

  	
  A

  	
   

  

 

Where:

 

	
   

  	
   

  	
  X =

  	
   

  	
  The number of Warrant Shares to be issued to the Holder.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Y =

  	
   

  	
  The number of Warrant Shares purchasable (or to be
  purchased) under this Warrant (at the date of such calculation).

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  A =

  	
   

  	
  The fair market value of one Warrant Share (at the date of
  such calculation).

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  B =

  	
   

  	
  The Purchase Price (as adjusted to the date of such
  calculation).

  

 

(ii) For purposes of this Section 1(c), the “fair
market value” of a Warrant Share on the date of calculation shall mean with
respect to such Warrant Share:

 

(A)
if the exercise of this Warrant is in connection with an initial public
offering of any Common Stock or equivalent equity securities of the Company
(which, for the purposes of this Section 1(c)(ii), shall be deemed to
include any successor entity thereto), and if the Company’s Registration Statement
relating to such public offering has been declared effective by the Securities
and Exchange Commission, then the fair market value of a Warrant Share shall be
the initial “Price to Public” for such share of Common Stock or equivalent
equity securities (expressed on a per share of Common Stock basis) specified in
the final prospectus with respect to the offering;

 

(B)
if this Warrant is exercised after, and not in connection with, the Company’s
initial public offering, and if the Common Stock or equivalent equity
securities of the Company are traded on a securities exchange or the Nasdaq
Stock Market or actively traded over-the-counter:

 

(1)
if the Common Stock or equivalent equity securities of the Company are traded
on a securities exchange or the Nasdaq Stock Market, the fair market value per
share of Common Stock or equivalent equity security

 

8

 

shall be deemed to be the
product of (x) the average of the closing prices of such Common Stock or equivalent
equity securities over a thirty (30) day period ending three days before date
of calculation and (y) the number of shares of Common Stock or equivalent
equity securities to which each Warrant Shares relates on such date; or

 

(2)
if the Common Stock or equivalent equity securities of the Company are actively
traded over-the-counter, the fair market value shall be deemed to be the
product of (x) the average of the closing bid or sales price (whichever is
applicable) of such Common Stock or equivalent equity securities over the
thirty (30) day period ending three days before the date of calculation, and
(y) the number of shares of Common Stock or equivalent equity securities to
which each Warrant Share relates on such date; or

 

(C) if neither (A) nor (B) is applicable, the fair
market value per Warrant Share shall be the highest price per share of Common
Stock or equivalent equity security which the Company could obtain on the date
of calculation from a willing buyer (not a current employee, stockholder or
director) for Common Stock or equivalent equity securities sold by the Company,
as determined in good faith by the Board of Directors (or committee thereof) of
the Company, unless the Company is at such time subject to an acquisition as
described in Section 6(b) below, in which case the fair market value per
Warrant Share shall be deemed to be the value to be received by the holders of
the Common Stock or equivalent equity securities for each share of Common Stock
or equivalent equity security pursuant to such acquisition.

 

9. Fractional Shares. The Company shall not
be required to issue or cause to be issued fractional Warrant Shares on the
exercise of this Warrant. The number of full Warrant Shares which shall be
issuable upon the exercise of this Warrant shall be computed on the basis of
the aggregate number of Warrant Shares purchasable on exercise of this Warrant
so presented. If any fraction of a Warrant Share would, except for the
provisions of this Section, be issuable on the exercise of this Warrant, the
Company shall pay an amount in cash equal to the Exercise Price multiplied by
such fraction.

 

10. Notices. Any and all notices or other
communications or deliveries hereunder shall be in writing and shall be deemed
given and effective on the earliest of (i) the date of transmission, if such
notice or communication is delivered via facsimile at the facsimile telephone
number specified in this Section prior to 6:00 p.m. (Eastern time) on a
business day, (ii) the business day after the date of transmission, if such
notice or communication is delivered via facsimile at the facsimile telephone
number specified in this Section later than 5:00 p.m. (Eastern time) on any
date and earlier than 11:59 p.m. (Eastern time) on such date, (iii) the
business day following the date of mailing, if sent by nationally recognized
overnight courier service, or (iv) upon actual receipt by the party to whom
such notice is required to be given. The addresses for such communications
shall be:

 

	
  If to the Company:

  	
   

  	
  Reliant
  Pharmaceuticals, Inc.

  
	
   

  	
   

  	
  110
  Allen Road

  
	
   

  	
   

  	
  Liberty
  Corner, NJ 07938

  
	
   

  	
   

  	
  Facsimile
  No.: (908) 542-9406

  
	
   

  	
   

  	
  Attn:
  Chief Financial Officer

  

 

9

 

	
  With copies to:

  	
   

  	
  Latham
  & Watkins LLP

  
	
   

  	
   

  	
  5800
  Sears Tower

  
	
   

  	
   

  	
  Chicago,
  IL 60606

  
	
   

  	
   

  	
  Facsimile
  No.: (312) 993-9767

  
	
   

  	
   

  	
  Attn:
  Michael A. Pucker

  
	
   

  	
   

  	
   

  
	
  If to a Purchaser:

  	
   

  	
  At
  the address set forth in the Warrant Register.

  

 

11. Warrant Agent. The Company shall serve as
warrant agent under this Warrant. Upon thirty days’ notice to the Holder, the
Company may appoint a new warrant agent. Any corporation into which the Company
or any new warrant agent may be merged or any corporation resulting from any
consolidation to which the Company or any new warrant agent shall be a party or
any corporation to which the Company or any new warrant agent transfers
substantially all of its corporate trust or shareholders services business
shall be a successor warrant agent under this Warrant without any further act.
Any such successor warrant agent shall promptly cause notice of its succession
as warrant agent to be mailed (by first class mail, postage prepaid) to the
Holder at the Holder’s last address as shown on the Warrant Register.

 

12. Miscellaneous.

 

(a) This Warrant shall be binding on and inure to the
benefit of the parties hereto and their respective successors and assigns. This
Warrant may be amended or waived only in writing signed by the Company and the
Holder and their successors and assigns.

 

(b) Subject to Section 12(a), above, nothing in this
Warrant shall be construed to give to any person or corporation other than the
Company and the Holder any legal or equitable right, remedy or cause under this
Warrant. This Warrant shall inure to the sole and exclusive benefit of the
Company and the Holder.

 

(c) This Warrant and all questions concerning the
construction, validity, enforcement and interpretation of this Warrant shall be
governed by and construed and enforced in accordance with the internal laws of
the State of Delaware, without regard to the principles of conflicts of law
thereof.

 

(d) The headings herein are for convenience only, do
not constitute a part of this Warrant and shall not be deemed to limit or
affect any of the provisions hereof.

 

(e) In case any one or more of the provisions of
this Warrant shall be invalid or unenforceable in any respect, the validity and
enforceability of the remaining terms and provisions of this Warrant shall not
in any way be affected or impaired thereby and the parties will attempt in good
faith to agree upon a valid and enforceable provision which shall be a
commercially reasonable substitute therefor, and upon so agreeing, shall
incorporate such substitute provision in this Warrant.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK;

SIGNATURE PAGE FOLLOWS]

 

10

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be
duly executed by its duly authorized officer as of the date first indicated
above.

 

	
   

  	
  RELIANT PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
  AGREED
  TO AND ACKNOWLEDGED:

  	
   

  
	
   

  	
   

  
	
  [NAME OF HOLDER]

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  Name:

  	
   

  
	
  Title:

  	
   

  
						

 

 

FORM OF ELECTION TO PURCHASE

 

(To
be executed by the Holder along with a joinder to the Stockholders’ Agreement
(if any) to exercise the right to purchase shares of Common Stock under the
foregoing Warrant)

 

To
Reliant Pharmaceuticals, Inc.:

 

The undersigned hereby irrevocably elects to
purchase                     
shares of common stock, $.01 par value per share, of Reliant Pharmaceuticals,
Inc. (the “Common Stock”) and encloses herewith $            
in cash, certified or official bank check or checks, which sum represents the
aggregate Exercise Price (as defined in the Warrant) for the number of shares
of Common Stock to which this Form of Election to Purchase relates, together
with any applicable taxes payable by the undersigned pursuant to the Warrant.

 

The Exercise Price applicable to the purchase
hereunder equals $            .

 

The Holder hereby represents and warrants to the
Company that it is an accredited investor under Rule 501(a) promulgated under
the Securities Act of 1933, as amended.

 

The undersigned requests that certificates for the
shares of Common Stock issuable upon this exercise be issued in the name of

 

	
   

  	
   

  	
  PLEASE
  INSERT SOCIAL SECURITY OR

  
	
   

  	
   

  	
  TAX
  IDENTIFICATION NUMBER

  
	
   

  
	
  (Please
  print name and address)

  
	
   

  
	
   

  
	
   

  

 

If the number of shares of Common Stock issuable
upon this exercise shall not be all of the shares of Common Stock which the
undersigned is entitled to purchase in accordance with the enclosed Warrant,
the undersigned requests that a New Warrant (as defined in the Warrant)
evidencing the right to purchase the shares of Common Stock not issuable
pursuant to the exercise evidenced hereby be issued in the name of and
delivered to:

 

 

	
   

  	
   

  
	
   

  	
   

  
	
  (Please
  print name and address)

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Dated:

  	
   

  
	
   

  	
  Name
  of Holder:

  
	
   

  	
   

  
	
   

  	
  (Print)

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (By:)

  	
   

  	
   

  
	
   

  	
  (Name:)

  	
   

  	
   

  
	
   

  	
  (Title:)

  	
   

  	
   

  
	
   

  	
  (Signature
  must conform in all respects to name of holder as

  specified on the face of the Warrant)

  

 

 

FORM OF ASSIGNMENT

 

[To be completed and signed
only upon transfer of Warrant]

 

FOR VALUE RECEIVED, the undersigned hereby sells,
assigns and transfers unto                                         
                
the right represented by the within Warrant to purchase                     
shares of Common Stock of Reliant Pharmaceuticals, Inc. to which the within
Warrant relates and appoints                                     
attorney to transfer said right on the books of Reliant Pharmaceuticals, Inc.
with full power of substitution in the premises.

 

	
  Dated:                    ,

  
	
   

  	
   

  	
   

  
	
   

  	
  (Signature
  must conform in all respects to name of holder as specified on the face of
  the Warrant)

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address
  of Transferee

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  In
  the presence of:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]