Document:

Exhibit 10.21

Exhibit 10.21

AMENDMENT TO DIRECTOR UNIT SUBSCRIPTION AGREEMENT

THIS AMENDMENT (this “Amendment”) is made as of [                    ], 2009, to that certain
Director Unit Subscription Agreement (Preferred Units, Class A Units and Class E Units) (the
“Agreement”), dated as of December 8, 2008, by and between NMH Investment, LLC, a Delaware
limited liability company (the “Company”), and Pamela F. Lenehan (the “Director”)
and is made by and between the Company and the Director. Capitalized terms used and not otherwise
defined herein have the meanings set forth in the Agreement.

NOW THEREFORE, the parties hereto agree as follows:

1. Amendment to Section 4.2 of the Agreement. In accordance with Section 6.6 of the
Agreement, Section 4.2 of the Agreement is hereby amended as follows: Section 4.2 is hereby deleted
in its entirety and replaced with the following:

“4.2 Call Options.

(a) If Director’s service as a member of the Board terminates for any of the reasons
set forth in clauses (i), (ii) or (iii) below prior to a Sale of the Company, the
Company shall have the right and option to purchase for a period of seven months
following the Termination Date, and each member of Director Group shall be required
to sell to the Company, any or all of such Units then held by such member of
Director Group (it being understood that if Units of any class subject to repurchase
hereunder may be repurchased at different prices, the Company may elect to
repurchase only the portion of the Units of such class subject to repurchase
hereunder at the lower price), at a price per unit equal to the applicable purchase
price determined pursuant to Section 4.2(c):

(i) if Director’s service as a member of the Board is terminated due
to the Disability or death of Director;

(ii) if Director’s service as a member of the Board is terminated by
the Company and its subsidiaries without Cause or by Director for any
reason when none of the circumstances set forth in clauses (i) and
(iii) apply;

(iii) if Director’s service as a member of the Board is terminated by
the Company or any of its subsidiaries for Cause.

(b) If the Company desires to exercise one of its options to purchase Units pursuant
to this Section 4.2, the Company shall, not later than seven months after the
Termination Date, send written notice to each member of Director Group of its
intention to purchase Units, specifying the number of Units to be purchased (the
“Call Notice” and the date that such Call Notice is given, the “Call
Notice Date”). Subject to the provisions of Section 5, the closing of the
purchase shall
take place at the principal office of the Company on a date specified by the Company
no later than the 30th day after the the Call Notice Date.

 

 

 

(c) In the event of a purchase by the Company pursuant to Section 4.2(a), the
purchase price shall be:

(i) with respect to a purchase of all Units, in the case of a
termination of Director’s service as a member of the Board described
in Section 4.2(a)(iii), a price per Unit equal to the lesser of (A)
Fair Market Value (measured as of the Call Notice Date) and (B) Cost;

(ii) with respect to a purchase of Preferred Units or Class A Units,
in the case of a termination of Director’s service as a member of the
Board described in Sections 4.2(a)(i) or Section 4.2(a)(ii), a price
per Unit equal to Fair Market Value (measured as of the Call Notice
Date); and

(iii) with respect to a purchase of Class E Units, in the case of a
termination of Director’s service as a member of the Board described
in Section 4.2(a)(i) or Section 4.2(a)(ii), with respect to the
number of Units being purchased which is the product of (x) the total
number of Units being purchased and (y) the Applicable Percentage
(measured as of the Termination Date), a price per Unit equal to Fair
Market Value (measured as of the Call Notice Date), and (if the
Applicable Percentage (measured as of the Termination Date) is less
than 100%) the purchase price with respect to the remaining Units
being sold shall be a price per Unit equal to the lesser of (A) Fair
Market Value (measured as of the Call Notice Date) and (B) Cost;

provided that in any case the Board shall have the right, in its sole
discretion, to increase any purchase price set forth above.”

2. Effect of Amendment. All references to “this Agreement” in the Agreement shall
mean the Agreement as amended by this Amendment. Except as provided in this Amendment, no other
provisions of the Agreement, as amended, shall be amended and the Agreement will remain in full
force and effect.

3. Counterparts. This Amendment may be executed in multiple counterparts (including
by means of telecopied signature pages), any one of which need not contain the signatures of more
than one party, but all such counterparts taken together shall constitute one and the same
instrument.

4. Governing Law. This Amendment shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware applicable to contracts made and to be performed
therein.

* * * * *

 

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the date first written
above.

	 	 	 	 	 	 	 
	 	 	NMH INVESTMENT, LLC,

a Delaware limited liability company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name: Edward M. Murphy
	 	 
	 

	 	 	 	Title:   President	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Pamela F. Lenehan	 	 

SIGNATURE PAGE TO AMENDMENT TO DIRECTOR UNIT

SUBSCRIPTION AGREEMENTexv4w6

Exhibit 4.6

AMENDMENT

TO

RIGHTS AGREEMENT

     This Amendment to Rights Agreement (this “Amendment”) between Vanda Pharmaceuticals Inc., a
Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC, as Rights
Agent (the “Rights Agent”), is effective this 22nd day of December, 2009.

W I T N E S S E T H:

     WHEREAS, on September 25, 2008 the Company and the Rights Agent entered into that certain
Rights Agreement between the Company and the Rights Agent (the “Rights Agreement”);

     WHEREAS, the Company desires to amend the Rights Agreement pursuant to Section 27 thereof; and

     WHEREAS, the Distribution Date (as defined in the Rights Agreement) has not yet occurred and
the Company has met all requirements for amendment of the Rights Agreement.

     NOW, THEREFORE, in consideration of the premises and of the mutual agreements herein set
forth, the parties hereto agree as follows:

     Section 1. Amendments.

     (a) The first sentence of Section 7(b) of the Rights Agreement is deleted in its entirety and
replaced with the following:

The Purchase Price shall be initially $66.00 for each one
one-thousandth of a share of Preferred Stock purchasable upon the
exercise of a Right.

     Section 2. Effect of this Amendment. It is the intent of the parties hereto that this
Amendment constitutes an amendment of the Rights Agreement as contemplated by Section 27 thereof.
This Amendment shall be deemed effective as of the date hereof upon execution and delivery by the
Company as if executed by both parties hereto on such date. Except as expressly provided in this
Amendment, the terms of the Rights Agreement remain in full force and effect. Unless the context
clearly provides otherwise, any reference to this “Agreement” or the “Rights Agreement” shall be
deemed to be a reference to the Rights Agreement as amended hereby.

     Section 3. Counterparts. This Amendment may be executed in any number of counterparts
and each of such counterparts shall for all purposes be deemed to be an original, and all such
counterparts shall together constitute one and the same instrument.

 

 

     Section 4. Governing Law. This Amendment shall be deemed to be a contract made under
the laws of the State of Delaware and for all purposes shall be governed by and construed in
accordance with the laws of such state applicable to contracts to be made and performed entirely
within such state.

     Section 5. Severability. If any term, provision, covenant or restriction of this
Amendment is held by a court of competent jurisdiction or other authority to be invalid, illegal or
unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment
shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

     Section 6. Descriptive Headings. The captions herein are included for convenience of
reference only, do not constitute a part of this Amendment and shall be ignored in the construction
and interpretation hereof.

 

 

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

	 	 	 	 	 
	 	 	VANDA PHARMACEUTICALS INC.
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	     /s/ Mihael H. Polymeropoulos
	 

	 	 	 	 
	 

	 	 	 	Name: Mihael H. Polymeropoulos
	 

	 	 	 	Title: President/CEO
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	     /s/ Herbert Lemmer
	 

	 	 	 	 
	 

	 	 	 	Name: Herbert Lemmer
	 

	 	 	 	Title: Vice-PresidentExhibit 4.1

Exhibit 4.1

AMENDMENT NO. 5 TO RIGHTS AGREEMENT

This Amendment No. 5 to Rights Agreement (this “Amendment”) is entered into as of December 21,
2009 (to become effective on the date set forth in Section 7 of this Amendment), between Image
Entertainment, Inc., a Delaware corporation (the “Company”), and Computershare Trust Company, N.A.,
a federally chartered trust company, as Rights Agent (the “Rights Agent”), and amends the Rights
Agreement dated as of October 31, 2005, by and between the Company and the Rights Agent, as amended
by Amendment No. 1 to Rights Agreement dated as of March 29, 2007, Amendment No. 2 to Rights
Agreement dated as of June 25, 2007, Amendment No. 3 to Rights Agreement dated as of February 2,
2008 and Amendment No. 4 to Rights Agreement dated as of November 19, 2008 (as amended, the “Rights
Agreement”).

WHEREAS, the Company desires to amend the Rights Agreement to (i) prevent certain Persons
acting with the approval of the Board of Directors of the Company who propose to acquire certain
equity interests in the Company from becoming Acquiring Persons, and to prevent the execution,
delivery or performance of the Securities Purchase Agreement (as such term is defined below) or any
of the Ancillary Agreements (as such term is defined below) from resulting in a Section 11(a)(ii)
Event, a Section 13 Event, a Triggering Event, a Distribution Date or a Share Acquisition Date and
(ii) amend the definition of Expiration Date; and

WHEREAS, this Amendment is entered into pursuant to Section 27 of the Rights Agreement, which
permits the Company’s board of directors to amend the Rights Agreement in any respect prior to the
Distribution Date without the approval of any holders of Rights.

WHEREAS, this Amendment is entered into pursuant to Section 27 of the Rights Agreement prior
to the time that any Person, to the knowledge of the Company, has become an Acquiring Person.

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth,
the parties hereto agree as follows:

1. Defined Terms

Terms not otherwise defined in this Amendment shall have the meaning ascribed to such terms as
in the Rights Agreement. The term “Agreement” or “Rights Agreement” as used in the Rights
Agreement shall be deemed to refer to the Rights Agreement as amended hereby, and all references to
the Agreement or Rights Agreement shall be deemed to include this Amendment.

2. Amendment of Section 1

(a) Section 1 of the Rights Agreement is hereby amended to delete each of the definitions of
“Merger Agreement,” “Merger Sub,” “Parent” and “Voting Agreements” in its entirety.

 

 

 

(b) Section 1 of the Rights Agreement is hereby further amended to add the following
definitions, which shall be inserted into Section 1 in alphabetical order:

“Ancillary Agreements” shall mean the Registration Rights Agreement.

“Investor Representative” shall mean JH Partners, LLC, a Delaware limited liability company.

“Investors” shall mean, collectively, JH Investment Partners Evergreen Fund, L.P., a
Delaware limited partnership, JH Investment Partners III, L.P., a Delaware limited
partnership, and JH Investment Partners GP Fund III, LLC, a Delaware limited liability
company.

“Registration Rights Agreement” shall mean the Registration Rights Agreement to be
entered into by and among the Company, the Investor Representative and the Investors.

“Securities Purchase Agreement” shall mean the Securities Purchase Agreement, dated
December 21, 2009 by and between the Company, the Investor Representative and the Investors
pursuant to which the Investors will purchase from the Company, and the Company will agree
to issue and sell to the Investors, shares of Series B Cumulative Preferred Stock and Series
C Junior Participating Preferred Stock of the Company.

3. Amendment of Section 7

Paragraph (a) of Section 7 of the Rights Agreement is hereby amended and restated in its
entirety to read in full as follows:

“The registered holder of any Rights Certificate evidencing exercisable Rights may exercise
the Rights evidenced thereby (except as otherwise provided in this Agreement) in whole or in part
at any time after the Distribution Date upon surrender of the Rights Certificate, with the form of
election to purchase and the related certification properly completed and duly executed, to the
Rights Agent at the office of the Rights Agent designated for such purpose, together with payment
of the Purchase Price for each Right being exercised (as such amount may be reduced (including to
zero) pursuant to Section 11(a)(iii)) and an amount equal to any applicable transfer tax or charge
required to be paid by the holder of such Rights Certificate in accordance with Section 9 in cash,
or by certified check, wire transfer or bank draft payable to the order of the Company), at or
prior to the earliest of (i) the Close of Business on the tenth anniversary hereof (the “Final
Expiration Date”), (ii) the time at which the Rights are redeemed as provided in Section 23 (the
“Redemption Date”), (iii) the time at which such Rights are exchanged as provided in Section 24,
and (iv) immediately prior to the Initial Closing (as such term is defined in the Securities
Purchase Agreement) (the earliest of (i), (ii), (iii) and (iv) being the “Expiration Date”).”

 

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4. Amendment of Section 35

Section 35 of the Rights Agreement is hereby amended and restated in its entirety to read in
full as follows:

“35. Exception For Securities Purchase Agreement

Notwithstanding any provision of this Agreement to the contrary, neither a Section 11(a)(ii)
Event, a Section 13 Event, a Triggering Event, a Distribution Date, nor a Share Acquisition Date
shall be deemed to have occurred, none of the Investors, the Investor Representative or any of
their Affiliates or Associates shall be deemed to have become an Acquiring Person, and no holder of
any Rights shall be entitled to exercise such Rights under, or be entitled to any rights pursuant
to, any of Sections 3(a), 7(a), 11(a) or 13 of this Agreement, in any such case by reason of (a)
the announcement of the Securities Purchase Agreement, (b) the approval, execution or delivery of
the Securities Purchase Agreement or any amendments thereof or any of the Ancillary Agreements or
any amendments thereof or (c) the commencement or, the consummation of, any of the transactions
contemplated by the Securities Purchase Agreement or any of the Ancillary Agreements.”

5. Addition of a New Section 37

The Rights Agreement is hereby amended by adding a new Section 37 thereof which shall read as
follows:

“37. Termination

Other than those provisions which by their terms survive the termination of this Agreement and
the expiration of the Rights, this Agreement will terminate and the Rights established hereby will
expire in all respects immediately prior to the Initial Closing (as such term is defined in the
Securities Purchase Agreement). The Company shall notify the Rights Agent of the occurrence of the
Initial Closing (as such term is defined in the Securities Purchase Agreement) promptly
thereafter.”

6. Amendment of Exhibits to Rights Agreement

All references to October 31, 2015 in the Form of Rights Certificate attached as Exhibit B to
the Rights Agreement and in the Summary of Rights to Purchase Preferred Stock attached as Exhibit C
to the Rights Agreement shall instead mean the Expiration Date.

 

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7. Effectiveness

This Amendment shall be deemed effective as of the time immediately prior to the signing of
the Securities Purchase Agreement. The Company shall notify the Rights Agent of (i) the signing of
the Securities Purchase Agreement promptly thereafter and (ii) the occurrence of the Initial
Closing (as such term is defined in the Securities Purchase Agreement) promptly thereafter. Except
as amended hereby, the Rights Agreement shall remain in full force and effect and shall be
otherwise unaffected hereby.

8. Miscellaneous

This Amendment shall be deemed to be a contract made under the laws of the State of Delaware
and for all purposes shall be governed by and construed in accordance with the laws of such state.
This Amendment may be executed in any number of counterparts, each of such counterparts shall for
all purposes be deemed an original and all such counterparts shall together constitute but one and
the same instrument. A signature to this Amendment transmitted
electronically shall have the same authority, effect, and enforceability as an original
signature. If any term, provision, covenant or restriction of this Amendment is held by a court of
competent jurisdiction or other authority to be invalid, illegal, or unenforceable, the remainder
of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force
and effect and shall in no way be affected, impaired or invalidated.

[Signature page follows]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 5 to Rights Agreement to
be duly executed as of the day and year first above written.

	 	 	 	 	 
	 	IMAGE ENTERTAINMENT, INC.

 	 
	 	By:  	/s/ JEFF M. FRAMER
 	 
	 	 	Name:  	Jeff M. Framer 	 
	 	 	Title:  	President and Chief Financial Officer 	 
	 
	 	COMPUTERSHARE TRUST COMPANY, N.A.

 	 
	 	By:  	/s/ KELLIE GWINN
 	 
	 	 	Name:  	Kellie Gwinn 	 
	 	 	Title:  	Vice President 	 
	 

 

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