Document:

Exhibit 10.15

 

ESCROW AGREEMENT

 

THIS ESCROW AGREEMENT
(this “Escrow Agreement”) is made this       
day of November, 2006, by and among:

 

(A)                              IBR-BYR L.L.C., a
Louisiana limited liability company (“IBR BYR”), IBR Plasma Centers,
L.L.C., a Louisiana limited liability company (“IBR PC”), and
International BioResources, L.L.C., a Louisiana limited liability company (the “Parent”,
together with IBR PC and IBR BYR, the “Acquired Asset Entities”);

 

(B)                                Talecris Plasma
Resources, Inc., a Delaware corporation (the “Buyer”), and Talecris Biotherapeutics Holdings Corp., a
Delaware corporation (“Holdings”); and

 

(C)                                J.P. Morgan Trust
Company, National Association, a national banking association (the “Escrow
Agent”).

 

The Acquired Asset
Entities, the Buyer, Holdings and the Escrow Agent may be referred to herein
singly as a “Party” and collectively as the “Parties.”  Capitalized terms used, but not defined,
herein shall have the meanings given them in the Asset Purchase Agreement,
dated October 31, 2006, by and among the Acquired Asset Entities, the Buyer and
Holdings (the “Purchase Agreement”).

 

BACKGROUND

 

WHEREAS, pursuant to
the Purchase Agreement, the Acquired Asset Entities, the Buyer and Holdings
desire to establish an escrow account in order to facilitate the payment of
certain indemnification claims that may be made by the Buyer or Holdings
against the Acquired Asset Entities pursuant to Section 8 of the Purchase
Agreement;

 

WHEREAS, the Purchase
Agreement provides that certain of the Validation Payments and the Milestone
Payments payable by the Buyer or Holdings to the Parent thereunder shall be
paid to the Escrow Agent to be held in escrow and distributed in accordance
with the terms and conditions of this Escrow Agreement and the Purchase
Agreement; and

 

WHEREAS, the Parties
desire that the Escrow Agent serve as escrow agent to implement the terms of
the Purchase Agreement, and the Escrow Agent desires to so serve, all in
accordance with the terms and conditions of this Escrow Agreement.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the mutual covenants contained herein, as well as in the
Purchase Agreement, and for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Parties, intending to be
legally bound, hereby agree as follows:

 

1.                                       Effect of Agreement. The Escrow Agent is
not a party to the Purchase Agreement. Therefore, the duties and
responsibilities of the Escrow Agent shall be determined solely by the express
provisions of this Escrow Agreement, and no additional duties or
responsibilities of the Escrow Agent shall be implied. Without limiting the
generality of the foregoing, the Escrow Agent shall be under no duty to inquire
into or investigate the validity, accuracy or content of any written notice,
instruction or request furnished to it hereunder and reasonably believed by it
to be genuine and to have been signed or presented by the proper Party or
Parties, and the Escrow Agent may rely, and shall be protected in acting or
refraining from acting, upon any such written notice, instruction or request.

 

 

2.                                       Creation of the Escrow Account. There
is hereby created and established with the Escrow Agent an escrow account,
account number 304901520 (the “Escrow Account”), to be held in the
custody of the Escrow Agent in accordance with this Escrow Agreement.

 

3.                                       Escrow Property.

 

(a)                                  During the term
of this Escrow Agreement, pursuant to Sections 2(c)(ii) and 2(c)(iii) of the
Purchase Agreement, the Buyer or Holdings may deliver 50% of each Validation
Payment and all Milestone Payments (the “Escrow Payments” and each an “Escrow
Payment”) to the Escrow Agent for deposit in the Escrow Account, to be
distributed in accordance with Section 4 below. All Escrow Payments made
by Holdings in restricted Holdings Common Stock shall be accompanied by a
written notice to the Escrow Agent and the Acquired Asset Entities setting
forth the number of shares issued, as well as the aggregate and per share
prices at which such shares were issued (including a statement as to whether
such shares were issued at the Agreed Upon Price then in effect or at the
Discounted IPO Price). The Escrow Agent shall acknowledge receipt of each
Escrow Payment and any accompanying notice by written notice to the Buyer,
Holdings and the Acquired Asset Entities.

 

(b)                                 The Escrow
Payments, together with any dividends or distributions or sales proceeds
thereof and any interest or other income earned thereon, are referred to herein
as “Escrow Property.”  Escrow
Property shall not be subject to lien or attachment by any creditor of any
Party hereto, and shall be used solely for the purpose set forth in this Escrow
Agreement and in the Purchase Agreement. Unless and until any shares of
Holdings Common Stock held as Escrow Property are distributed to Holdings
pursuant to Section 4(a) below, the record owner of such shares shall be
eligible to exercise all voting rights with respect thereto as if such shares
were not held in escrow. The Escrow Agent warrants and undertakes that, unless
specifically authorized to do so in accordance with the terms and provisions of
this Escrow Agreement, it will not release, distribute or expend any portion of
the Escrow Property.

 

(c)                                  During the term
of this Escrow Agreement, any cash Escrow Property shall be invested and
reinvested by the Escrow Agent in the investment(s) indicated on Schedule 1
or such other investments as shall be directed in writing jointly by the Buyer
and Holdings, on the one hand, and the Acquired Asset Entities, on the other
hand, and as shall be reasonably acceptable to the Escrow Agent. All investment orders involving U.S. Treasury
obligations, commercial paper and other direct investments (as permitted in
accordance with this Section 3(c)) will be executed through the
facilities of the Escrow Agent’s own trading or capital markets operations or
those of any affiliated entity. Periodic
statements for the Escrow Account will be provided to the Buyer, Holdings and
the Acquired Asset Entities. The Escrow Agent shall have the right to liquidate
any investments held in the Escrow Account (other than any Holdings Common
Stock, which shall only be sold or liquidated in accordance with Section
3(d) hereof) in order to provide funds necessary to make required payments
under this Escrow Agreement. All interest or any other income earned with
respect to such investments shall be retained as part of the Escrow Property
until distributed in accordance with Section 4 below. As between the
Buyer and Holdings, on the one hand, and the Acquired Asset Entities, on the
other hand, all interest or any other income earned with respect to such
investments shall be paid to the Acquired Asset Entities unless required to be
paid to the Buyer pursuant to Section 4 below in respect of Buyer
Distribution Claims in excess of the Escrow Payments. For tax reporting
purposes, all such income shall be allocated to the Acquired Asset Entities.

 

(d)                                 To the extent
permitted under Applicable Law, the Stockholders Agreement and any other
agreement entered into pursuant to the Purchase Agreement, the Acquired Asset
Entities may sell any and all Holdings Common Stock held as Escrow Property
hereunder to an unaffiliated third party for cash so long as (i) the Acquired
Asset Entities shall have given the Escrow Agent, the Buyer and Holdings the
Requisite Notice (defined below), and (ii) the amount of gross cash proceeds
from such sale

 

2

 

equals or is greater than
the product of (x) the number of shares of Holdings Common Stock to be so sold
and (y) the lesser of the Agreed Upon Price then in effect and the Discounted
IPO Price (such product, the “Aggregate Issuance Price”); provided,
however, that clause (ii) shall be inapplicable to a sale pursuant to Section
3.08 of the Stockholders Agreement. As a condition to the closing of such sale,
the Acquired Asset Entities shall require that all cash proceeds from such sale
be paid into the Escrow Account, and thereafter the Escrow Agent shall retain
as Escrow Property such proceeds until such time as the Acquired Asset Entities
may withdraw them pursuant to Section 4(b). Any fees, commissions, costs
and expenses incurred or payable in connection with such sale of Holdings
Common Stock shall be borne by and paid directly by the Acquired Asset Entities
and shall not be paid using Escrow Property. The “Requisite Notice”
means a notice setting forth the number of shares of Holdings Common Stock
proposed to be sold, the prospective purchaser of such shares and the price and
other terms on which the Acquired Asset Entities propose to make such sale, and
given (A) at least five (5) Business Days prior to the date of sale, in the
case where the shares to be sold are shares of restricted Holdings Common
Stock, or (B) as promptly as practicable, but at least one Business Day, prior to
the date of sale, in the case where the shares to be sold are shares of
freely-tradable Holdings Common Stock, and in each case otherwise in accordance
with Section 7 hereof.

 

(e)                                  To the extent
permitted under Applicable Law, the Stockholders Agreement and any other
agreement entered into pursuant to the Purchase Agreement, if at any time any
of the Acquired Asset Entities determines to distribute or transfer any shares
of Holdings Common Stock issued or issuable under the Purchase Agreement to its
members of the Acquired Asset Entities or any other Permitted Transferee (as
defined in the Stockholders Agreement), then as a condition to such
distribution or transfer each such member and Permitted Transferee shall
execute a counterpart signature page to this Escrow Agreement, whereupon such
member or Permitted Transferee shall be deemed to be an Acquired Asset Entity
for purposes of this Agreement upon satisfaction of the Escrow Agent’s account
opening requirements provided in Section 11(a) and such other conditions
as the Escrow Agent may reasonably require in accordance with Applicable Law,
and each such member and Permitted Transferee shall have all of the rights and
obligations of an Acquired Asset Entity hereunder as if such member or
Permitted Transferee were an original party hereto. If a distribution or
transfer of Holdings Common Stock occurs as contemplated in this Section
3(e) such that a member of an Acquired Asset Entity or Permitted Transferee
becomes a party to this Escrow Agreement, then any subsequent distribution of
the Escrow Property pursuant to Section 4 will be subject to allocation
among the parties to this Escrow Agreement at such time in accordance with the
percentage of the Holdings Common Stock held of record by each such party (as
reflected in the stock certificates then held by the Escrow Agent). If the
Escrow Property is then held in cash, the Escrow Agent may rely on a joint
instrument signed by such parties to this Escrow Agreement, certifying to the
Escrow Agent as to the allocation of the Escrow Property among such parties.

 

4.                                       Distribution of Escrow Property. The
Escrow Agent shall pay and deliver the Escrow Property as follows:

 

(a)                                  If
the Buyer or Holdings seeks to recover any Escrow Property pursuant to Section
8 of the Purchase Agreement during the period of this Escrow Agreement, it
shall notify the Escrow Agent in writing of the grounds for such distribution
of Escrow Property (a “Buyer Distribution Claim”) and the amount of the
Escrow Property sought from the Escrow Agent (a “Buyer Claim Notice”),
with a copy to the Acquired Asset Entities. The Escrow Agent shall pay the
Buyer or Holdings, as applicable, the amount set forth in such Buyer Claim
Notice from the Escrow Property on the tenth (10th) Business Day following Escrow Agent’s
receipt of such Buyer Claim Notice unless the Acquired Asset Entities give
written notice to the Buyer or Holdings, as applicable, and the Escrow Agent (a
“Seller Counter Notice”) disputing in good faith either (i) the
existence or basis of the Buyer Distribution Claim or (ii) the amount of such
Buyer Distribution Claim contained in the Buyer Claim Notice (in which case the
Seller Counter

 

3

 

Notice shall set forth the dollar amount of the Acquired Asset
Entities’ good faith determination of the Buyer Distribution Claim). If a
Seller Counter Notice with respect to a Buyer Claim Notice is received by the
Escrow Agent and the Buyer or Holdings, as applicable, on or before 5:00 PM New
York, NY time on the tenth (10th) Business Day after the receipt by the
Acquired Asset Entities of such Buyer Claim Notice, the Escrow Agent shall do
the following:

 

(A)                              If the Seller
Counter Notice disputes the existence or basis of the Buyer Distribution Claim,
then the Escrow Agent will retain the Escrow Property that is the subject of
such disputed Buyer Distribution Claim contained in the Buyer Claim Notice and
distribute such Escrow Property only in accordance and consistent with either:
(x) a final non-appealable order, decree or judgment of a court of competent
jurisdiction or (y) a joint written instruction from the Buyer or Holdings, on
the one hand, and the Acquired Asset Entities, on the other hand, regarding
such Escrow Property.

 

(B)                                If the Seller
Counter Notice disputes only the amount of a Buyer Distribution Claim, and not
the basis or existence of such claim, then the Escrow Agent will (x) distribute
the Escrow Property to the Buyer or Holdings, as applicable, relating to the
undisputed amount of such Buyer Distribution Claim contained in such Buyer
Claim Notice promptly following the receipt of such Seller Counter Notice, and
(y) distribute the Escrow Property relating to the disputed amount of any Buyer
Distribution Claim contained in such Buyer Claim Notice only in accordance and
consistent with either: (1) a final non-appealable order, decree or judgment of
a court of competent jurisdiction or (2) a joint written instruction from the
Buyer or Holdings, on the one hand, and the Acquired Asset Entities, on the other
hand, regarding such Escrow Property.

 

(b)                                 If the Acquired
Asset Entities shall determine in good faith that the amount of Escrow Property
exceeds the applicable Cap Amount during the period of this Escrow Agreement
(including, without limitation, as a result of the reduction of the Cap Amount
as of the 18-Month Anniversary), then the Acquired Asset Entities may notify
the Escrow Agent in writing of such determination (a “Seller Distribution
Claim”) and the amount of the Escrow Property sought from the Escrow Agent
(a “Seller Claim Notice”), with a copy to the Buyer and Holdings. The
Escrow Agent shall pay the Acquired Asset Entities, as applicable, the amount set
forth in such Seller Claim Notice from the Escrow Property on the tenth (10th)
Business Day following Escrow Agent’s receipt of such Seller Claim Notice
unless the Buyer or Holdings give written notice to the Acquired Asset Entities
and the Escrow Agent (a “Buyer Counter Notice”) disputing in good faith
either (i) the existence or basis of the Seller Distribution Claim or (ii) the
amount of such Seller Distribution Claim contained in the Seller Claim Notice
(in which case the Buyer Counter Notice shall set forth the dollar amount of
the Buyer’s and Holdings’ good faith determination of the Seller Distribution
Claim). If a Buyer Counter Notice with respect to a Seller Claim Notice is
received by the Escrow Agent and the Acquired Asset Entities on or before 5:00
PM New York, NY time on the tenth (10th) Business Day after the receipt by the Buyer and
Holdings of such Seller Claim Notice, the Escrow Agent shall do the following:

 

(A)                              If the Buyer
Counter Notice disputes the existence or basis of the Seller Distribution
Claim, then the Escrow Agent will retain the Escrow Property that is the
subject of such disputed Seller Distribution Claim contained in the Seller
Claim Notice and distribute such Escrow Property only in accordance and
consistent with either: (x) a final non-appealable order, decree or judgment of
a court of competent jurisdiction or (y) a joint written instruction from the
Buyer or Holdings, on the one hand, and the Acquired Asset Entities, on the
other hand, regarding such Escrow Property.

 

4

 

(B)                                If the Buyer
Counter Notice disputes only the amount of a Seller Distribution Claim, and not
the basis or existence of such claim, then the Escrow Agent will (x) distribute
the Escrow Property to the Acquired Asset Entities relating to the undisputed
amount of such Seller Distribution Claim contained in such Seller Claim Notice
promptly following the receipt of such Buyer Counter Notice, and (y) distribute
the Escrow Property relating to the disputed amount of any Seller Distribution
Claim contained in such Seller Claim Notice only in accordance and consistent
with either: (1) a final non-appealable order, decree or judgment of a court of
competent jurisdiction or (2) a joint written instruction from the Buyer or
Holdings, on the one hand, and the Acquired Asset Entities, on the other hand,
regarding such Escrow Property.

 

(c)                                  Any court order
referenced in Section 4(a) or Section 4(b) above shall be
accompanied by a legal opinion by counsel for the presenting party (with a copy
to the other parties to be given concurrently) reasonably satisfactory to
Escrow Agent to the effect that the order is final and non-appealable. The
Escrow Agent shall act on and promptly disburse such Escrow Property in
accordance with such court order and legal opinion furnished pursuant to Section
4(a) or Section 4(b) above without further question.

 

(d)                                 Notwithstanding
the foregoing, the Escrow Property, less an amount equal to claims for
which a Buyer Claim Notice has been given but which remain unpaid or with
respect to which a Seller Counter Notice has been delivered, shall be released on
                    
     , 2009 [i.e., the thirtieth (30th) month anniversary of the
Closing Date].

 

(e)                                  If any Escrow
Property to be released by the Escrow Agent pursuant to Section 4(a) or Section
4(b) above shall be in the form of Holdings Common Stock, then the number
of shares to be released from the Escrow Account to the Buyer and Holdings
shall be equal to the quotient obtained by dividing (i) the amount of the Buyer
Distribution Claim (or portion thereof) or the Seller Distribution Claim (or
portion thereof), as the case may be, being paid by (ii) the Fair Market
Value, as calculated by the Buyer or Holdings, on the one hand, or the Acquired
Asset Entities, on the other hand, as applicable, subject to the procedures set
forth in Section 4(a) or Section 4(b) above, as applicable. “Fair
Market Value” means, with respect to a share of Holdings Common Stock, (i)
as of any date of determination prior to the closing date of an initial public
offering of Holdings Common Stock (the “IPO Date”), the Agreed Upon
Price as then in effect plus interest thereon, at the rate of 8% per annum,
calculated on the basis of the actual days elapsed from the date of issuance of
such share of Holdings Common Stock to the date of such release (the “Interest-Adjusted
Price”), (ii) as of any date of determination on or following the IPO Date
through the date of expiration of the underwriters’ lock-up agreement entered
into by the Acquired Asset Entities or their respective Affiliates in
connection with such initial public offering of Holdings Common Stock (the “Lock-Up
Expiration Date”), the higher of the Interest-Adjusted Price and the then
current Market Price of a share of Holdings Common Stock, and (iii) as of any
date after the Lock-Up Expiration Date, the then current Market Price of a
share of Holdings Common Stock. “Market Price” means the average for the
thirty consecutive trading days immediately preceding the date of determination
of (i) the daily closing price of Holdings Common Stock as reported by the
principal securities exchange on which the Holdings Common Stock is then
listed, or (ii) if not listed on any such exchange, the daily closing bid
prices or last trade prices of the Holdings Common Stock as reported in the
over-the-counter market or electronic bulletin board, or (iii) if not so
reported, the average of the daily bid and ask prices of any market makers for
the Holdings Common Stock as reported in the “pink sheets” by Pink Sheets LLC,
or (iv) if not so reported, the fair market value of the Holdings Common Stock
as determined by Holdings’ Board of Directors.

 

(f)                                    At any time
that the Escrow Agent shall be required to retain a fraction of a share of
Holdings Common Stock in accordance with the value mechanism in Section 4(e),
the Escrow Agent

 

5

 

shall round up to the next
whole number. Consequently, the number of shares of Holdings Common Stock to be
released shall be rounded down to the next whole number.

 

(g)                                 Subject to the
terms of Section 4 of this Agreement, in the event of a distribution of
Escrow Property pursuant to Section 4, the Escrow Agent’s sole
obligation with respect to the distribution of the shares of Holdings Common
Stock shall be to deliver the stock certificate(s) representing such shares and
any related stock powers to the party or parties entitled to receive such
distribution; provided, however, that if
the stock certificate(s) held by the Escrow Agent do(es) not represent the
exact number of shares to be distributed to the party or parties entitled to
receive such distribution (such certificate(s), collectively, the “Old
Certificates”), then the Escrow Agent shall (i) instruct Holdings (or its
designated stock transfer agent) to issue new stock certificates representing
the exact number of shares of Holdings Common Stock to be distributed to the
party or parties entitled to receive such distribution and/or to be retained by
the Escrow Agent following such distribution (such certificates, collectively,
the “New Certificates”), (ii) concurrently with Holdings’ (or its
designated stock transfer agent’s) delivery of the New Certificates to the
Escrow Agent, exchange the Old Certificates for the New Certificates; and (iii)
promptly deliver New Certificates to the party or parties entitled to receive
such distribution and/or retain New Certificates that are not subject to such
distribution, as the case may be. Notwithstanding the foregoing, Holdings shall
not be required to issue and deliver to the Escrow Agent a New Certificate for
any shares of Holdings Common Stock it or any of its Affiliates may be entitled
to receive hereunder. In connection with a distribution or transfer
contemplated in Section 3(e), the Escrow Agent shall (i) instruct
Holdings (or its designated stock transfer agent) to issue one or more new
stock certificates in the name of the member(s) or other Permitted
Transferree(s) to whom such shares were distributed or transferred, and (ii)
concurrently with Holdings’ (or its designated stock transfer agent’s) delivery
of the such new stock certificate(s) to the Escrow Agent, exchange the old
stock certificate(s) (together with executed counterpart(s) to this Escrow
Agreement from such member(s) or other Permitted Transferree(s)) for the new
stock certificates. The Escrow Agent shall have no liability whatsoever for any
error, delay or failure to act by Holdings (or its designated stock transfer
agent), including without limitation any error, delay or failure in the
delivery of such shares of Holdings Common Stock. If at any time the Escrow
Agent or Holdings requests a duly executed stock power from the Acquired Asset
Entities or any transferee thereof, the Acquired Asset Entities or such
transferee shall provide Escrow Agent with such stock power as soon as
practical.

 

5.                                       Escrow Period; Termination of Escrow. The
escrow period shall commence on the date hereof and shall end on the date on
which all of the Escrow Property shall have been distributed in accordance with
Section 4 hereof.

 

6.                                       Fees.
The Buyer and Holdings shall, jointly and severally, be responsible for, and
each agrees (i) to pay to the Escrow Agent upon execution of this Escrow
Agreement and from time to time thereafter (in accordance with Schedule 2
attached hereto) the entirety of the Escrow Agent’s administrative fee as
described in Schedule 2 attached hereto, and (ii) to pay or reimburse
the Escrow Agent upon request for all reasonable expenses, disbursements and
advances, including reasonable attorneys’ fees and reasonable expenses,
incurred or made by it in connection with the preparation, execution,
performance, delivery, modification and termination of this Escrow Agreement. The
Escrow Agent shall have, and is hereby granted, a prior lien upon any property,
cash, or assets of the Escrow Property, with respect to its unpaid fees,
nonreimbursed expenses and unsatisfied indemnification rights, superior to the
interests of any other persons or entities. The Escrow Agent shall have and is
hereby granted the right to set off and deduct any unpaid fees, nonreimbursed
expenses or unsatisfied indemnification rights from any cash Escrow Property.

 

7.                                       Notices.
All notices, consents, waivers, and other communications under this Escrow
Agreement must be in writing and will be deemed to have been duly given when:
(a) delivered by hand (with written

 

6

 

confirmation of receipt); (b) sent by facsimile (with written
confirmation of receipt), provided that a
copy is mailed by registered mail, return receipt requested; or (c) when
received by the addressee, if sent by a nationally recognized overnight
delivery service (receipt requested), in each case to the appropriate addressee
and facsimile numbers set forth below (or to such other addressee and facsimile
numbers as a party may designate by notice to the other parties):

 

If
to the Acquired Asset Entities:

 

International
BioResources, L.L.C.

1100
Camellia Boulevard

Suite
201

Lafayette,
Louisiana  70508

Fax:  (337) 931-6248

Attention:  Rodney Savoy

 

and

 

International
BioResources, L.L.C.

1200
Camellia Boulevard

Suite
203

Lafayette,
Louisiana  70508

Fax:  (337) 216-6644

Attention:  Ben Blanchet

 

and

 

Fulbright
& Jaworski L.L.P.

666 Fifth
Avenue

New York, New
York 10103

Fax:  (212) 318-3400

Attention:  Neil Gold, Esq.

 

If
to the Buyer or Holdings:

 

Talecris Biotherapeutics
Holdings Corp.

PO Box 110526

4101 Research Commons

79 T.W. Alexander Drive

Research Triangle Park

North Carolina, USA 27709

Fax: (919) 316-6669

Attention: General Counsel

 

Copy
to:

 

Reed Smith LLP

599 Lexington Avenue

29th Floor

New York, NY 10022

Fax:  (212)
521-5450

Attention: David M. Grimes,
Esq.

 

If to the Escrow Agent:

 

J.P. Morgan Trust Company,

National Association

420 West Van Buren, Mail
Code IL1-0113

Chicago, IL  60606-6113

Fax:  (312) 954-0430

Attention: Sara Bergthold

 

7

 

8.                                       Liability of Escrow Agent.

 

(a)                                  The Escrow
Agent shall have no liability for any loss sustained as a result of any
investment in an investment indicated on Schedule 1 or any investment
made pursuant to the instructions of the Parties or as a result of any
liquidation of any investment prior to its maturity or for the failure of the
parties to give the Escrow Agent instructions to invest or reinvest cash Escrow
Property.

 

(b)                                 In performing
any of its services under this Escrow Agreement, the Escrow Agent shall not
incur any liability to anyone for damages, losses or expenses, unless a court
of competent jurisdiction determines that the Escrow Agent’s willful misconduct
or gross negligence was the cause of such damages, losses or expenses.

 

(c)                                  If within 120
days after the Escrow Agent’s receipt of a Seller Counter Notice or a Buyer
Counter Notice, the Parties to this Escrow Agreement are unable to resolve the
conflict, and Escrow Agent is in doubt as to any of its obligations under this
Agreement,  the Escrow Agent shall be
entitled at its option to tender into the custody of any court of competent
jurisdiction in the State of New York the Escrow Property and to begin such
legal proceedings in connection with an action for interpleader as the Escrow
Agent deems appropriate. After taking such actions, the Escrow Agent shall then
be discharged from any further duties and liability under this Escrow Agreement
except to the extent of any prior willful misconduct or gross negligence of the
Escrow Agent.

 

(d)                                 The Escrow
Agent shall act hereunder as a depositary only and its duties hereunder shall
be limited to the safekeeping of the Escrow Property received by it as an
escrow agent and for the disbursement of same in accordance with this Escrow
Agreement, and it shall not be responsible or liable in any manner whatever for
the sufficiency, correctness, genuineness or validity of any document furnished
to the Escrow Agent or any asset deposited with it.

 

(e)                                  In the
administration of the Escrow Account hereunder, the Escrow Agent may execute
any of its powers and perform its duties hereunder directly or through agents
or attorneys and may consult with legal counsel, accountants and other skilled
persons to be selected and retained by it. The Escrow Agent shall incur no
liability and it shall be fully protected in acting in good faith in accordance
with the advice and opinions of such counsel, accountants and skilled persons.

 

(f)                                    The Acquired
Asset Entities, on the one hand, and the Buyer and Holdings, on the other hand,
shall jointly and severally indemnify the Escrow Agent and its directors,
officers, agents and employees (collectively, the “Indemnitees”) from
and against any and all claims, liabilities, losses, damages, fines, penalties,
and expenses, including out-of-pocket, incidental expenses, reasonable legal
fees and expenses (including the reasonable, accurately allocated costs and
expenses of in-house counsel and legal staff and other reasonable costs and
expenses of defending or preparing to defend against any claim) (collectively, “Losses”)
that may be imposed on, incurred by, or asserted against, the Indemnitees
arising out of the Escrow Agent’s performance under this Escrow Agreement; provided
that the Escrow Agent or any such Indemnitee has not acted with gross
negligence or engaged in willful misconduct. Although the obligations of the
Acquired Asset Entities, on the one hand, and the Buyer and Holdings, on the
other hand, pursuant to this Section 8(f) are joint and several, the
Acquired Asset Entities, the Buyer and Holdings agree that as between
themselves, the Acquired Asset Entities, on the one hand, and the Buyer and
Holdings, on the other hand, shall each be responsible for 50% of any such
indemnification

 

8

 

obligation arising under
this Section 8(f). The Acquired Asset Entities shall jointly and
severally indemnify the Buyer and Holdings from and against any and all Losses
incurred by either of them arising out of
the Escrow Agent’s exercise of its rights or remedies in respect of any lien on
the Escrow Property established under Section 6 above that results
from any Acquired Asset Entity’s failure to indemnify the Escrow Agent pursuant
to this Section 8(f). The Buyer and Holdings shall jointly and severally
indemnify the Acquired Asset Entities from and against any and all Losses
incurred by any of them arising out of the
Escrow Agent’s exercise of its rights or remedies in respect of any lien on the
Escrow Property established under Section 6 above that results
from the Buyer and Holdings’ failure to pay any fees, expenses, disbursements
and advances as required under the first sentence of Section 6 or their
failure to indemnify the Escrow Agent pursuant to this Section 8(f). The
provisions of this Section 8(f) shall survive the termination of this
Escrow Agreement and the resignation or removal of the Escrow Agent for any
reason.

 

(g)                                 Notwithstanding
anything in this Agreement to the contrary, in no event shall the Escrow Agent
be liable for special, indirect or consequential loss or damage of any kind
whatsoever (including but not limited to lost profits) even if the Escrow Agent
has been advised of the possibility of such losses or damages and regardless of
the form of action.

 

9.                                       Resignation and Removal of Escrow Agent.

 

(a)                                  The Escrow Agent may resign and be discharged from its duties or
obligations hereunder by giving 30 days advance notice in writing of such
resignation to the other parties hereto specifying a date when such resignation
shall take effect. In addition, if the Escrow Agent becomes unable to fulfill
its duties hereunder, or, if for any reason, Acquired Asset Entities, on the
one hand, and the Buyer and Holdings, on the other hand, desire to remove the
Escrow Agent, such Parties may, by mutual agreement at any time, remove the
Escrow Agent as escrow agent by providing 10 days advance written notice to the
Escrow Agent. Upon such resignation or removal, the Escrow Agent shall have the
right to withhold an amount equal to any amount due and owing to the Escrow
Agent, plus any costs and expenses the Escrow Agent shall reasonably believe
may be incurred by the Escrow Agent in connection with the termination of the
Escrow Agreement. Any corporation or association into which the Escrow Agent
may be merged or converted or with which it may be consolidated, or any
corporation or association to which all or substantially all the escrow
business of the Escrow Agent’s corporate trust line of business may be
transferred, shall be the Escrow Agent under this Escrow Agreement without
further act.

 

(b)                                 In the event of the resignation or removal of
the Escrow Agent, the Acquired Asset Entities, the Buyer and Holdings will, by
mutual agreement, appoint a successor escrow agent. If such Parties fail to
agree on a successor escrow agent within the applicable period referenced in
paragraph (a) above, the Escrow Agent shall, at the expense of Acquired Asset
Entities, on the one hand, and the Buyer and Holdings, on the other hand, (such
expense to be borne one-half by the Acquired Asset Entities, on the one hand,
and the Buyer and Holdings, on the other hand), deliver the Escrow Property to
a court in accordance with Section 8(c) hereof. Upon the appointment of
any successor escrow agent under this Escrow Agreement, the successor escrow
agent shall have all the rights, duties and powers that applied to the original
Escrow Agent hereunder.

 

10.                                 Attachment of Escrow Property; Compliance with Legal Orders. In the event that any Escrow Property shall be attached, garnished or
levied upon by any court order, or the delivery thereof shall be stayed or
enjoined by an order of a court, or any order, judgment or decree shall be made
or entered by any court order affecting the property deposited under this
Agreement, the Escrow Agent is hereby expressly authorized, in its sole
discretion, to obey and comply with all writs, orders or decrees so entered or
issued, which it is advised by legal counsel of its own choosing is binding
upon it, whether with or without jurisdiction, and in the event that the Escrow
Agent obeys or complies with any such writ, order

 

9

 

or decree it shall not be liable to any of the parties hereto or to any
other person, firm or corporation, by reason of such compliance notwithstanding
such writ, order or decree be subsequently reversed, modified, annulled, set
aside or vacated.

 

11.                                 Account Opening
Information/TINs.

 

(a)                                  The Parties understand that, to help
the United States government fight the funding of terrorism and money
laundering activities, federal law requires all financial institutions to
obtain, verify, and record information that identifies each person who opens an
account. Accordingly, the Buyer, Holdings and the Acquired Asset Entities,
including any member of the Acquired Asset Entities or Permitted Transferee
pursuant to Section 3(e) above, agree to provide such information as
Escrow Agent may reasonably request for purposes of opening the Escrow Account
and identifying relevant parties.

 

(b)                                 Upon execution of this Escrow Agreement, each
of the Acquired Asset Entities shall provide the Escrow Agent with a fully
executed W-8 or W-9 IRS form, which shall include the Acquired Asset Entities’
Taxpayer Identification Numbers (“TINs”). In addition, all interest or
other income earned under the Escrow Agreement shall be allocated and/or paid
as set forth in Section 3(c) hereof or as directed in a joint written
direction of the Buyer and Holdings, on the one hand, and the Acquired Asset
Entities, on the other, and reported by the recipient to the Internal Revenue
Service or any other taxing authority. Notwithstanding such written directions,
the Escrow Agent shall report and, as required, withhold any taxes as it
determines may be required by any law or regulation in effect at the time of
the distribution. In the absence of timely direction, all proceeds of the
Escrow Property shall be retained as Escrow Property and reinvested from time to
time by the Escrow Agent as provided in Section 3(c) hereof. In the
event that any earnings remain undistributed at the end of any calendar year,
Escrow Agent shall report to the Internal Revenue Service or such other
authority such earnings as it deems appropriate or as required by any
applicable law or regulation or, to the extent consistent therewith, as
directed in a joint written direction of Acquired Asset Entities, on the one
hand, and the Buyer and Holdings, on the other hand, which shall be delivered
to the Escrow Agent no later than December 15th of each calendar year. In addition, Escrow
Agent shall withhold any taxes it deems appropriate and shall remit such taxes
to the appropriate authorities.

 

12.                                 Security Procedures. In the event any instructions
regarding the transfer of Escrow Property are given (other than in writing at
the time of execution of this Escrow Agreement, as indicated in Schedule 1
attached hereto), whether in writing, by facsimile or otherwise, the Escrow
Agent is authorized to seek confirmation of such instructions by telephone
call-back to the person or persons designated on Schedule 3 hereto, and
the Escrow Agent may rely upon the confirmation of anyone purporting to be the
person or persons so designated. Each
funds transfer instruction shall be executed by an authorized signatory, and a
list of such authorized signatories is set forth on Schedule 1. The
undersigned is authorized to certify that the signatories on Schedule 1
are authorized signatories. The persons and
telephone numbers for individuals authorized to give and confirm funds transfer
instructions may be changed only in a writing actually received and
acknowledged by the Escrow Agent. The Escrow Agent and the recipient’s bank in
any transfer of Escrow Property may rely solely upon any account numbers or
similar identifying numbers provided by the Buyer and Holdings, on the one
hand, or the Acquired Asset Entities, on the other hand, to identify (i) the
recipient, (ii) the recipient’s bank, or (iii) an intermediary bank. The Escrow
Agent may apply any of the Escrow Property for any payment order it executes
using any such identifying number, even when its use may result in a person
other than the recipient being paid, or the transfer of Escrow Property to a
bank other than the recipient’s bank or an intermediary bank designated. The
Parties to this Escrow Agreement acknowledge that these security procedures are
commercially reasonable.

 

10

 

13.                                 General Terms.

 

(a)                                  This Escrow
Agreement shall be governed by and construed in accordance with the laws of the
State of New York without regard to its principles of conflicts of laws. Any
action brought hereunder shall be brought in the courts of the State of New
York, located in New York County or in the United States District Court for the
Southern District of New York. Each Party hereto irrevocably waives any
objection on the grounds of venue, forum non-conveniens or any similar grounds
and irrevocably consents to service of process by mail or in any other manner
permitted by applicable law and consents to the jurisdiction of said courts.

 

(b)                                 Should Buyer
and Holdings, on the one hand, or the Acquired Asset Entities, on the other,
have any disputes with regards to any matters under this Escrow Agreement, such
parties shall make a reasonable good faith effort to resolve their differences.

 

(c)                                  The Parties
hereto agree to execute and deliver any and all papers and documents necessary
to complete the actions contemplated hereby.

 

(d)                                 This Escrow
Agreement shall be binding upon the Parties hereto and their respective
successors and assigns. Neither this Escrow Agreement nor any right or interest
hereunder may be assigned in whole or in part by any Party without the prior
consent of the other Parties, except as set forth in the next sentence. Any
corporation or association into which the Escrow Agent in its individual
capacity may be merged or converted or with which it may be consolidated, or
any corporation or association resulting from any merger, conversion or
consolidation to which the Escrow Agent in its individual capacity shall be a
party, or any corporation or association to which all or substantially all the
corporate trust business of the Escrow Agent in its individual capacity may be
sold or otherwise transferred, shall be the Escrow Agent under this Escrow
Agreement without further act.

 

(e)                                  This Escrow
Agreement (and to the extent referred to herein, the Purchase Agreement)
contain the entire agreement among the Parties hereto with respect to the
subject matter hereof. The provisions of this Escrow Agreement may only be
waived, altered, amended or supplemented, in whole or in part, by a writing
signed by all of the Parties hereto.

 

(f)                                    Unless the
context of this Escrow Agreement clearly requires otherwise, (i) references to
the plural include the singular, the singular the plural, the part the whole,
(ii) references to one gender include all genders, (iii) “or” has the inclusive
meaning frequently identified with the phrase “and/or,” (iv) “including” has
the inclusive meaning frequently identified with the phrase “but not limited to”
and (v) references to “hereunder;” “herein,” “hereto” or “hereof” relate to
this Escrow Agreement. The section and other headings contained in this Escrow
Agreement are for reference purposes only and shall not control or affect the
construction of this Escrow Agreement or the interpretation thereof in any
respect. Section, subsection and schedule references are to this Escrow
Agreement unless otherwise specified. Each accounting term used herein that is
not specifically defined herein shall have the meaning given to it under
generally accepted accounting principles.

 

(g)                                 Notwithstanding
any other provision of this Agreement, the Escrow Agent shall not be obligated
to perform any obligation hereunder and shall not incur any liability for the
nonperformance or breach of any obligation hereunder to the extent that the
Escrow Agent is delayed in performing, unable to perform or breaches such
obligation because of acts of God, war, terrorism, fire, floods, strikes,
electrical outages, equipment or transmission failures, or other causes
reasonably beyond its control.

 

(h)                                 This Escrow
Agreement may be executed in two or more counterparts (which may be delivered
by facsimile), each of which shall be binding as of the date first written
above. Each such copy

 

11

 

shall be deemed an original,
and it shall not be necessary in making proof of this Escrow Agreement to
produce or account for more than one such counterpart.

 

[Signatures to Follow]

 

12

 

IN WITNESS
WHEREOF, this Escrow Agreement has been executed by the parties hereto as of
the day and year first written above.

 

 

	
  TALECRIS BIOTHERAPEUTICS HOLDINGS CORP.

  
	
   

  
	
  By:

  	
  /s/ LAWRENCE D. STERN

  	
   

  
	
  Name:

  	
  Lawrence D. Stern

  	
   

  
	
  Title:

  	
  Executive Chairman

  	
   

  
	
   

  
	
   

  
	
  TALECRIS PLASMA RESOURCES, INC.

  
	
   

  
	
   

  
	
  By:

  	
  /s/ RANDALL A. JONES

  	
   

  
	
  Name:

  	
  Randall A. Jones

  	
   

  
	
  Title:

  	
  Vice President

  	
   

  
	
   

  
	
  IBR-BYR L.L.C.

  
	
   

  
	
  By:

  	
  /s/ RODNEY L. SAVOY

  	
   

  
	
  Name:

  	
  Rodney L. Savoy

  	
   

  
	
  Title:

  	
  CEO

  	
   

  
	
   

  
	
   

  
	
  INTERNATIONAL BIORESOURCES, L.L.C.

  
	
   

  
	
  By:

  	
  /s/ RODNEY L. SAVOY

  	
   

  
	
  Name:

  	
  Rodney L. Savoy

  	
   

  
	
  Title:

  	
  CEO

  	
   

  
	
   

  
	
   

  
	
  IBR PLASMA CENTERS, L.L.C.

  
	
   

  
	
  By:

  	
  /s/ RODNEY L. SAVOY

  	
   

  
	
  Name:

  	
  Rodney L. Savoy

  	
   

  
	
  Title:

  	
  CEO

  	
   

  
	
   

  
	
   

  
	
  J.P. MORGAN TRUST COMPANY,

  
	
  NATIONAL ASSOCIATION

  
	
   

  
	
  By:

  	
  /s/ SARA BERGTHOLD

  	
   

  
	
  Name:

  	
  Sara Bergthold

  	
   

  
	
  Title:

  	
  Trust OfficerExhibit 10.16

 

JOINDER TO RESTRICTIVE COVENANTS

 

Reference is hereby made to that certain
Asset Purchase Agreement (the “Purchase Agreement”), made and entered
into on October 31, 2006, by and among IBR-BYR L.L.C., a Louisiana limited
liability company (“IBR BYR”), International
BioResources, L.L.C., a Louisiana limited liability company (the “Parent”),
IBR Plasma Centers, L.L.C., a Louisiana limited liability company (“IBR PC”),
Talecris Biotherapeutics Holdings Corp., a Delaware corporation (“Holdings”),
and Talecris Plasma Resources, Inc., a Delaware corporation (the “Buyer,” and collectively with Holdings, IBR BYR,
IBR PC and the Parent, the “Parties”).
Capitalized terms used herein without definitions shall have the meanings
ascribed thereto in the Purchase Agreement.

 

For good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, each of the
undersigned hereby covenants and agrees to be bound by and to comply with the
terms and conditions of Section 6(e) the Purchase Agreement applicable to him as
if such individual was an original party to the Purchase Agreement.

 

IN WITNESS WHEREOF, the undersigned have
executed and delivered this Joinder to Restrictive Covenants this 18th day of November,
2006.

 

	
   

  	
  /s/
  RODNEY SAVOY

  
	
   

  	
  Rodney
  Savoy

  
	
   

  	
   

  
	
   

  	
  /s/
  ROBERT GAGNARD

  
	
   

  	
  Robert
  Gagnard

  

 

	
   

  	
   

  	
   

  
	
   

  	
  ACKNOWLEDGMENT:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TALECRIS
  BIOTHERAPEUTICS HOLDINGS CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  LAWRENCE D. STERN

  	
   

  
	
   

  	
  Name:
  Lawrence D. Stern

  	
   

  
	
   

  	
  Title:
  Executive Chairman

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TALECRIS
  PLASMA RESOURCES, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  RANDALL A. JONES

  	
   

  
	
   

  	
  Name:
  Randall A. Jones

  	
   

  
	
   

  	
  Title:
  Vice President

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