Document:

Assignment and Acceptance Agreement

 Exhibit 10.25 
  
 8/25/03 
  
 ASSIGNMENT AND ACCEPTANCE AGREEMENT 
  
 This ASSIGNMENT AND ACCEPTANCE AGREEMENT (“Assignment Agreement”) is entered into as of August 31, 2004 (the “Effective
Date”) between SCM TELCO FINANCE LLC (“Assignor”), and HIGHBRIDGE/ZWIRN SPECIAL OPPORTUNITIES FUND, LP (“Assignee”). Reference is made to the agreements described in Annex I annexed hereto (the
“Factoring Documents”). Capitalized terms used herein and in Annex I and not otherwise defined shall have the meanings ascribed to them in the Factoring Agreement dated as of December 12, 2003. 
  
 1. In accordance with the terms and conditions of the Factoring Documents,
Assignor hereby sells and assigns to Assignee, and Assignee hereby purchases and assumes from Assignor, solely that interest in and to Assignor’s rights and obligations under the Factoring Documents as of the date hereof with respect to
Assignor’s amount, portion and share of the Title to each Purchased Amount, in each case as specified in Annex I. After giving effect to such sale and assignment, Assignee’s amount, portion and share of the Purchased Amount will be as set
forth in Annex I. 
  
 2. Assignor (a) represents and warrants that
it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim; (b) makes no representation or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with the Factoring Documents or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Factoring Documents or any other instrument or document furnished
pursuant thereto; and (c) makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Borrower or Guarantor or the performance or observance by any Borrower or Guarantor of any of its obligations
under the Factoring Documents or any other instrument or document furnished pursuant thereto. 
  
 3. Assignee (a) confirms that it has received copies of the Factoring Documents, together with copies of such other documents and information as it has deemed appropriate to make its own credit analysis and decision
to enter into this Assignment Agreement; (b) agrees that it will, independently and without reliance upon ARBINET-THEXCHANGE, INC., (“Client”), Assignor, based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under the Factoring Documents; (c) confirms that it is eligible as an assignee under the terms of the Factoring Documents; (d) appoints and authorizes Client to take such
action as Client on its behalf and to exercise such powers under the Factoring Documents as are delegated to Client by the terms thereof, together with such powers as are reasonably incidental thereto; and (e) agrees that it will perform in
accordance with their terms all of the obligations which by the terms of the Factoring Documents are required to be performed by it as an Assignee; and (f) agrees that it will promptly enter into any intercreditor agreement or amendment thereto as
Assignor has done in connection with the Factoring Documents. 
  

 4. As of the Effective Date (a) Assignee shall be a party to the Factoring Documents and, to the extent
of the interest assigned pursuant to this Assignment Agreement, have the rights and obligations of a Junior Factor (as such term is defined in the Factoring Agreement) thereunder and under the other Factoring Documents, and (b) Assignor shall, to
the extent of the interest assigned pursuant to this Assignment Agreement, relinquish its rights and be released from its obligations under the Factoring Documents. 
  
 5. Upon recording by Client, from and after the Effective Date, Client shall make all payments under the Factoring Documents
in respect of the interest assigned hereby to Assignee. Upon the Effective Date, Assignee shall pay to Assignor the Net Purchase Price (as set forth in Annex I). Assignor and Assignee shall make all appropriate adjustments in payments under the
Factoring Documents for periods prior to the Effective Date directly between themselves on the Effective Date. 
  
 6. This Assignment Agreement may be executed in counterparts and by the parties hereto in separate counterparts, each of which when so executed and
delivered shall be an original, but all of which shall together constitute one and the same instrument. This Assignment Agreement may be executed and delivered by telecopier or other facsimile transmission all with the same force and effect as if
the same were a fully executed and delivered original manual counterpart. 
  
 7. This Assignment shall be binding upon and inure to the benefit of the successors, assignees, personal representatives, heirs and legatees of all the respective parties hereto. 
  
 8. This Assignment Agreement shall be governed by, and construed and enforced
in accordance with, the laws of the State of New York. 
  
 9. This
Assignment Agreement sets forth the entire understanding of the parties hereto with respect to the subject matter hereof. Neither this Assignment Agreement nor any term may be modified, altered, waived, discharged, or terminated except by an
instrument in writing executed by the party against whom such alteration, waiver, discharge or termination is sought to be enforced. 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Assignment Agreement and Annex I hereto to be
executed by their respective officers as of the first date written above. 
  

			
	SCM TELCO FINANCE, LLC
	 as Assignor

		
	 By:
	 	 /s/ Daniel Zwirn

	 Name:
	 	 Daniel Zwirn

	 Title:
	 	 
	
	HIGHBRIDGE/ZWIRN SPECIAL OPPORTUNITIES FUND, LP,
	 as Assignee

		
	 By:
	 	 /s/ Daniel Zwirn

	 Name:
	 	 Daniel Zwirn

	 Title:
	 	 Managing Principal

  

			
	 ACCEPTED THIS 31 DAY OF
 August, 2004

	
	 ARBINET-THEXCHANGE, INC.

		
	 By:
	 	 /s/ John Roberts

	 Name:
	 	 John Roberts

	 Title:
	 	 CFOForm of Indemnity Agreement

 Exhibit 10.2 
  
 INDEMNITY AGREEMENT 
  
 THIS AGREEMENT is made and entered into this
             day of             , 2004 by and between CONOR MEDSYSTEMS,
INC., a Delaware corporation (the “Corporation”), and                     
(“Agent”). 
  
 RECITALS

  
 WHEREAS, Agent performs a valuable
service to the Corporation in his capacity as [a/an] [director/officer] of the Corporation; 
  
 WHEREAS, the stockholders of the Corporation have adopted bylaws (the “Bylaws”) providing for the
indemnification of the directors, officers, employees and other agents of the Corporation, including persons serving at the request of the Corporation in such capacities with other corporations or enterprises, as authorized by the Delaware General
Corporation Law, as amended (the “Code”); 
  
 WHEREAS, the Bylaws and the Code, by their non-exclusive nature, permit contracts between the Corporation and its agents, officers, employees and other agents with respect to indemnification of such persons; and

  
 WHEREAS, in order to induce Agent to
serve as [a/an] [director/officer] of the Corporation, the Corporation has determined and agreed to enter into this Agreement with Agent; 
  
 NOW, THEREFORE, in consideration of Agent’s service as [a/an] [director/officer] after the date hereof,
the parties hereto agree as follows: 
  
 AGREEMENT 
  
 1. Services to the
Corporation. Agent will serve, at the will of the Corporation or under separate contract, if any such contract exists, as [a/an] [director/officer] of the Corporation or as a director, officer or other fiduciary of an affiliate of the
Corporation (including any employee benefit plan of the Corporation) faithfully and to the best of his ability so long as he [is duly elected and qualified in accordance with the provisions of the Bylaws or other applicable charter documents/is a
duly appointed officer] of the Corporation or such affiliate; provided, however, that Agent may at any time and for any reason resign from such position (subject to any contractual obligation that Agent may have assumed apart from this
Agreement) and that the Corporation or any affiliate shall have no obligation under this Agreement to continue Agent in any such position. 
  
 2. Indemnity of Agent. The Corporation hereby agrees to hold harmless and indemnify Agent to the fullest extent authorized or permitted by the
provisions of the Bylaws and the Code, as the same may be amended from time to time (but, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than the Bylaws or the Code permitted prior to
adoption of such amendment). 
  

 1. 

 3. Additional Indemnity. In addition to and not in limitation of the indemnification otherwise
provided for herein, and subject only to the exclusions set forth in Section 4 hereof, the Corporation hereby further agrees to hold harmless and indemnify Agent: 
  
 (a) against any and all expenses (including attorneys’ fees), witness fees, damages, judgments, fines and
amounts paid in settlement and any other amounts that Agent becomes legally obligated to pay because of any claim or claims made against or by him in connection with any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, arbitrational, administrative or investigative (including an action by or in the right of the Corporation) to which Agent is, was or at any time becomes a party, or is threatened to be made a party, by reason of the fact that Agent is, was
or at any time becomes a director, officer, employee or other agent of Corporation, or is or was serving or at any time serves at the request of the Corporation as a director, officer, employee or other agent of another corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise; and 
  
 (b) otherwise to the fullest extent as may be provided to Agent by the Corporation under the non-exclusivity provisions of the Code and Section 43 of the Bylaws. 
  
 4. Limitations on Additional Indemnity. No indemnity pursuant to Section 3 hereof shall be paid by the Corporation:

  
 (a) on account of any claim against Agent for an
accounting of profits made from the purchase or sale by Agent of securities of the Corporation pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934 and amendments thereto or similar provisions of any federal, state or
local statutory law; 
  
 (b) on account of Agent’s
conduct that is established by a final judgment as knowingly fraudulent or deliberately dishonest or that constituted willful misconduct; 
  
 (c) on account of Agent’s conduct that is established by a final judgment as constituting a breach of Agent’s duty of loyalty to the
Corporation or resulting in any personal profit or advantage to which Agent was not legally entitled; 
  
 (d) for which payment is actually made to Agent under a valid and collectible insurance policy or under a valid and enforceable indemnity clause,
bylaw or agreement, except in respect of any excess beyond payment under such insurance, clause, bylaw or agreement; 
  
 (e) if indemnification is not lawful (and, in this respect, both the Corporation and Agent have been advised that the Securities and Exchange
Commission believes that indemnification for liabilities arising under the federal securities laws is against public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for
adjudication); or 
  
 (f) in connection with any proceeding
(or part thereof) initiated by Agent, or any proceeding by Agent against the Corporation or its directors, officers, employees or other agents, unless (i) such indemnification is expressly required to be made by law, (ii) the proceeding was
authorized by the Board of Directors of the Corporation, (iii) such indemnification is provided by the Corporation, in its sole discretion, pursuant to the powers vested in the Corporation under the Code, or (iv) the proceeding is initiated pursuant
to Section 9 hereof. 
  

 2. 

 5. Continuation of Indemnity. All agreements and obligations of the Corporation contained herein
shall continue during the period Agent is a director, officer, employee or other agent of the Corporation (or is or was serving at the request of the Corporation as a director, officer, employee or other agent of another corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise) and shall continue thereafter so long as Agent shall be subject to any possible claim or threatened, pending or completed action, suit or proceeding, whether civil, criminal,
arbitrational, administrative or investigative, by reason of the fact that Agent was serving in the capacity referred to herein. 
  
 6. Partial Indemnification. Agent shall be entitled under this Agreement to indemnification by the Corporation for a portion of the expenses
(including attorneys’ fees), witness fees, damages, judgments, fines and amounts paid in settlement and any other amounts that Agent becomes legally obligated to pay in connection with any action, suit or proceeding referred to in Section 3
hereof even if not entitled hereunder to indemnification for the total amount thereof, and the Corporation shall indemnify Agent for the portion thereof to which Agent is entitled. 
  
 7. Notification and Defense of Claim. Not later than thirty (30) days after Agent becomes aware, by written or other
overt communication, of any pending or threatened litigation, claim or assessment, Agent will, if a claim in respect thereof is to be made against the Corporation under this Agreement, notify the Corporation of such pending or threatened litigation,
claim or assessment; but the omission so to notify the Corporation will not relieve it from any liability which it may have to Agent otherwise than under this Agreement. With respect to any such pending or threatened litigation, claim or assessment
as to which Agent notifies the Corporation of the commencement thereof: 
  
 (a) the Corporation will be entitled to participate therein at its own expense; 
  
 (b) except as otherwise provided below, the Corporation may, at its option and jointly with any other indemnifying party similarly notified and
electing to assume such defense, assume the defense thereof, with counsel reasonably satisfactory to Agent. After notice from the Corporation to Agent of its election to assume the defense thereof, the Corporation will not be liable to Agent under
this Agreement for any legal or other expenses subsequently incurred by Agent in connection with the defense thereof except for reasonable costs of investigation or otherwise as provided below. Agent shall have the right to employ separate counsel
in such action, suit or proceeding but the fees and expenses of such counsel incurred after notice from the Corporation of its assumption of the defense thereof shall be at the expense of Agent unless (i) the employment of counsel by Agent has been
authorized by the Corporation, (ii) Agent shall have reasonably concluded, and so notified the Corporation, that there is an actual conflict of interest between the Corporation and Agent in the conduct of the defense of such action or (iii) the
Corporation shall not in fact have employed counsel to assume the defense of such action, in each of which cases the fees and expenses of Agent’s separate counsel shall be at the expense of the Corporation. The Corporation shall not be entitled
to assume the defense of any action, suit or proceeding brought by or on behalf of the Corporation or as to which Agent shall have made the conclusion provided for in clause (ii) above; and 
  

 3. 

 (c) the Corporation shall not be liable to indemnify Agent under this Agreement for any amounts
paid in settlement of any action or claim effected without its written consent, which shall not be unreasonably withheld. The Corporation shall be permitted to settle any action or claim except that it shall not settle any action or claim in any
manner which would impose any penalty or limitation on Agent without Agent’s written consent, which may be given or withheld in Agent’s sole discretion. 
  
 8. Expenses. The Corporation shall advance, prior to the final disposition of any proceeding, promptly following
request therefor, all expenses incurred by Agent in connection with such proceeding upon receipt of an undertaking by or on behalf of Agent to repay said amounts if it shall be determined ultimately that Agent is not entitled to be indemnified under
the provisions of this Agreement, the Bylaws, the Code or otherwise. 
  
 9. Enforcement. Any right to indemnification or advances granted by this Agreement to Agent shall be enforceable by or on behalf of Agent in any court of competent jurisdiction if (i) the claim for indemnification or advances is
denied, in whole or in part, or (ii) no disposition of such claim is made within ninety (90) days of request therefor. Agent, in such enforcement action, if successful in whole or in part, shall be entitled to be paid also the expense of prosecuting
his claim. It shall be a defense to any action for which a claim for indemnification is made under Section 3 hereof (other than an action brought to enforce a claim for expenses pursuant to Section 8 hereof, provided that the required
undertaking has been tendered to the Corporation) that Agent is not entitled to indemnification because of the limitations set forth in Section 4 hereof. Neither the failure of the Corporation (including its Board of Directors or its stockholders)
to have made a determination prior to the commencement of such enforcement action that indemnification of Agent is proper in the circumstances, nor an actual determination by the Corporation (including its Board of Directors or its stockholders)
that such indemnification is improper shall be a defense to the action or create a presumption that Agent is not entitled to indemnification under this Agreement or otherwise. 
  
 10. Subrogation. In the event of payment under this Agreement, the Corporation shall be subrogated to the extent of
such payment to all of the rights of recovery of Agent, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Corporation effectively to bring suit to enforce such rights.

  
 11. Non-Exclusivity of Rights. The rights conferred on
Agent by this Agreement shall not be exclusive of any other right which Agent may have or hereafter acquire under any statute, provision of the Corporation’s Certificate of Incorporation or Bylaws, agreement, vote of stockholders or directors,
or otherwise, both as to action in his official capacity and as to action in another capacity while holding office. 
  
 12. Survival of Rights. 
  
 (a) The rights conferred on Agent by this Agreement shall continue after Agent has ceased to be a director, officer, employee or other agent of the
Corporation or to serve 
  

 4. 

 at the request of the Corporation as a director, officer, employee or other agent of another corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise and shall inure to the benefit of Agent’s heirs, executors and administrators. 
  
 (b) The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business or assets of the Corporation, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would be required to perform if no such succession had taken
place. 
  
 13. Separability. Each of the provisions of this
Agreement is a separate and distinct agreement and independent of the others, so that if any provision hereof shall be held to be invalid for any reason, such invalidity or unenforceability shall not affect the validity or enforceability of the
other provisions hereof. Furthermore, if this Agreement shall be invalidated in its entirety on any ground, then the Corporation shall nevertheless indemnify Agent to the fullest extent provided by the Bylaws, the Code or any other applicable law.

  
 14. Governing Law. This Agreement shall be interpreted
and enforced in accordance with the laws of the State of Delaware. 
  
 15. Amendment and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless in writing signed by both parties hereto. 
  
 16. Identical Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence the existence of this Agreement.

  
 17. Headings. The headings of the sections of this
Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction hereof. 
  
 18. Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given (i)
upon delivery if delivered by hand to the party to whom such communication was directed or (ii) upon the third business day after the date on which such communication was mailed if mailed by certified or registered mail with postage prepaid:

  

	 	(a)	If to Agent, at the address indicated on the signature page hereof. 

  

	 	(b)	If to the Corporation, to: 

  
 Conor Medsystems, Inc. 
 1003 Hamilton Court

 Menlo Park, CA 94025 
  
 or to such other address as may have been furnished to Agent by the Corporation. 
  

 5. 

 IN WITNESS WHEREOF, the parties hereto have executed
this Agreement on and as of the day and year first above written. 
  

			
	  
 CONOR MEDSYSTEMS,
INC.

		
	 By:
	 	  

	 	 	 
	 AGENT

	  

	 [Name]
	 	 
		
	 Address:

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