Document:

exv4w3

 

EXHIBIT 4.3

CYTRX CORPORATION

11726 San Vicente Boulevard, Suite 650

Los Angeles, California 90049

March 30, 2007

American Stock Transfer & Trust Company

40 Wall Street

New York, New York 10005

Attention: Corporate Trust Department

			
	Re:     	 	Amendment No. 2 to Shareholder Protection Rights Agreement dated as of April 16, 1997, as
amended by Amendment No. 1 thereto dated February 11, 2002 (as so amended, the “Rights
Agreement”) between CytRx Corporation (“CytRx”) and American Stock Transfer & Trust
Company
	 	 	 

Ladies and Gentlemen:

Pursuant to Section 5.4 of the Rights Agreement, by resolution duly adopted on February 12, 2007 by
the Board of Directors of CytRx, the Rights Agreement is hereby amended as follows:

1. The definition of “Expiration Time” in Section 1.1 of the Rights Agreement is hereby deleted and
replaced in its entirely with the following:

” ‘Expiration Time’ shall mean the earliest of (i) the Exchange Time, (ii) April 16,
2017 and (iii) upon the merger of the Company into another corporation pursuant to
an agreement entered into prior to a “Flip-In Date.”

2. Except as expressly amended hereby, the Rights Agreement shall remain in full force and effect.

3. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed
to them in the Rights Agreement.

4. This Amendment No. 2 shall be governed by and construed in accordance with the laws of the State
of Delaware, without regard to the conflicts of law principles thereof.

5. This Amendment No. 2 may be executed in counterparts. Each such counterpart shall be deemed to
be an original, and such counterparts, together, shall be deemed to be one and the same agreement.

6. This Amendment No. 2 shall be effective as of the date hereof, and all references to the Rights
Agreement shall, from and after such time, be deemed to be references to the Rights Agreement as
amended hereby.

 

 

American Stock Transfer & Trust Company

March 30, 2007

Page 2

Very truly yours,

/s/ Steven A. Kriegsman

President and Chief Executive Officer

CytRx Corporation

Accepted and agreed to as of the date

first written above:

American Stock Transfer & Trust Company

	 	 	 
	By:

	 	/s/ HERBERT L. LEMMER
	Name:

	 	Herberet L. Lemmer
	Title:

	 	Vice PresidentEX-10.19

 

Exhibit
10.19

COGNOVIT PROMISSORY NOTE

			
	$835,000
	 	Columbus, Ohio

April 27, 2006

     FOR VALUE RECEIVED, the undersigned Assured Health Care, Inc. and AdCare Health Systems, Inc.
(herein, collectively, “Maker”) hereby jointly and severally promise to pay to Homer R. McKnight
(“Holder”) the principal amount of $835,000, together with interest on the unpaid principal at a
rate equal to the prime rate then in effect. For purposes of this Note at the “prime rate” will be
the prime rate as announced by Huntington National Bank in Columbus, Ohio from time to time, or its
successor, if applicable. The interest rate will be adjusted monthly on the first day of each
month beginning June 1, 2006. The terms, conditions and provisions of this Note are further set
forth below.

     Section 1. Payments. Interest payments will be made on the unpaid principal balance
monthly on the first day of each month beginning June 1, 2006. The entire principal balance,
together with any accrued and unpaid interest, will be due in full on or prior to May 1, 2007.
There will be no prepayment penalty associated with this Note.

     Section 2. Default. In the event that Maker fails to pay principal or interest when
due, Maker is thereupon in default under this Note.

     Section 3. Waiver; Extension. Maker hereby waives presentment for payment, demand,
protest, notice of protest and notice of dishonor on this Note. Holder may extend the time of
repayment of this Notice, Postpone the enforcement of this Note, grant any other indulgences and/or
releases any part primarily or secondarily liable hereunder without affecting or diminishing
Holder’s rights or records against Maker, which rights are expressly reserved.

     Section 4. Governing Law. The terms of this Note are governed by and will be
construed in accordance with the laws of the State of Ohio.

     Section 5. Assignment of Note. If this Note is assigned or pledged by Holder, or
assigns, Maker shall only be obligated to make payments directly to such assignee or pledge if
prior notice of such assignment is given to Maker in writing of the name and address of such
assignee or pledgee.

     Section 6. Attorneys’ Fees. If any suit is brought to collect upon this Note, Holder
shall be entitled to collect all reasonable costs and expenses of the suite, including but not
limited to, reasonable attorneys’ fees.

 Page 1 of  2

 

     The Maker hereby authorizes any attorney at law to appear in any court of record in any county
in any state where the Maker resides, signed the Note, or can be found, after the obligation
evidenced hereby, or any part thereof, becomes due and is unpaid, and waive the issuance of process
and confess judgment against the Maker in favor of the Holder of the Note for the amount then
appearing due, together with the costs of the suit, and thereupon to release all errors and waive
all right of appeal and state of execution.

     IN WITNESS WHEREOF, Maker has executed this Note on the date first written above.

WARNING – BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL. IF YOU DO
NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE
POWERS OF A COURT CAN BE SUED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE
CREDITOR WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE
AGREEMENT, OR ANY OTHER CAUSE.

	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	MAKER:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	ASSURED HEALTH CARE, INC.	 	 	 	ADCARE HEALTH SYSTEMS, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/David A. Tenwick
	 	 	 	By:
	 	/s/David A. Tenwick	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Secretary
	 	 	 	 	 	Chairman	 	 

 Page 2 of  2EX-10.20

 

 Exhibit
10.20

Investment Banking Agreement

This Investment Banking Agreement (the “Agreement”) is made and entered into as of December
29, 2006 by and among, Adcare Health Systems, Inc. having a principal place of business at 5057
Troy Road, Springfield, Ohio 45502 (the “Company”), and Capital City Partners LLC (“CCP”), having
its place of business at 9100 South Dadeland Boulevard, Suite 1800-A, Miami, FL 33156.

Engagement of Services

The Company hereby retains CCP, for the purpose of providing to the Company Investment Banking
services. CCP agrees to be retained to provide such services described in Section One below on an
exclusive basis pursuant to the terms and conditions set forth herein.

Section One

Statement of Work

CCP will, on behalf of the Company, perform the following Investment Banking and Advisory Services:

In such capacity, CCP shall be available for advice, and shall advise the Company with
respect to such financial matters as the Company shall from time to time request, including
matters relating to: capital raising, whether from institutional and other investors or
lenders or from the private placement of debt instruments or equity securities; public
offerings of debt or equity; structure of debt or equity financings; acquisitions and other
business ventures; stockholder and securities dealer relations; in creating market
awareness of the Company and its stock, and in the organization of investor presentations.
CCP will work with management and other advisors to seek to increase liquidity and maintain
an orderly market in the Company’s publicly traded stock; advise the Company pertaining to
stock buyback plans, stock splits or dividends and other related plans as they pertain to
the Company’s capitalization, stock price and liquidity. At the request of the Management
of the Company, CCP will attend shareholder and Board Meetings to make presentations.

Section Two

Place of Work

It is understood that CCP’s services will be rendered both on and off-site of the Company. Subject
to CCP providing reasonable prior notice, the Company agrees to provide an office, secretarial
support, and time of key employees while CCP is on-site performing the services described in
Section One.

Section Three

Time Devoted to Work

In the performance of the services covered by this Agreement, the services and the hours CCP works,
will be entirely within CCP’s control and the Company enters into this Agreement in reliance upon
CCP to put in such number of hours as is reasonably necessary to fulfill the spirit and the purpose
of this Agreement.

9100 So. Dadeland Boulevard, Suite 1800-A, Miami, Florida 33156

Page 1 of 3

 

 

Section Four

Duration

The duration of this Agreement (the “Term”) shall extend for a period of twelve (12) months
from the date first written above. This Agreement may be terminated at any time by CCP, or the
Company with or without cause, upon thirty (30) days prior written notice to the other party.

Section Five

Payment

The Company will pay CCP a non-refundable consulting retainer of Twenty-Five Thousand ($25,000)
Dollars in consideration of the Investment Banking services described herein. In addition CCP
will be granted non refundable retainer warrants to acquire Twenty-Five-Thousand (25,000)
shares of the Company’s voting common stock. The warrants will be priced at 125% of the current
market price of the Company’s common stock as of the date of this Agreement, and contain all of the
provisions as stated in Section Six of this Investment Banking Agreement. The consulting fees and
warrants are payable by the Company to CCP upon the execution of this agreement.

Section Six

Status of CCP; Indemnification

CCP is and shall be an independent contractor and is not and shall not be deemed or construed to be
an employee of the Company by virtue of this Agreement. Neither CCP, nor the Company shall hold
CCP out as an agent, partner, officer, director, or other employee of the Company in connection
with this Agreement or the performance of any of the duties, obligations or performances
contemplated hereby and CCP further specifically disclaims any and all rights to an equity interest
in or a partnership with the Company by virtue of this Agreement or any of the transactions
contemplated hereby, except as specifically provided herein. CCP specifically acknowledges and
agrees that it shall have no authority to execute any contracts or agreements on behalf of the
Company or any other person that, directly or indirectly, through one or more intermediaries,
controls, is controlled by or is under common control with the Company (an “Affiliate”) and it
shall have no authority to bind the Company or its Affiliates to any obligation (contractual or
otherwise). For purposes of this Agreement, (a) the term “control” shall mean the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of
a person, whether through the ownership of voting interests, by contract or otherwise and (b) the
term “person” shall mean an individual, partnership, corporation, limited liability company,
limited liability partnership, trust, joint venture or other entity. It is hereby acknowledged and
agreed that the Company has not, is not and shall not be obligated to make, and that it is the sole
responsibility of CCP to make, in connection with any income earned by CCP from the Company, all
periodic withholding taxes, FICA taxes, SECA payments, Federal unemployment taxes (FUTA) and any
other Federal or state taxes, payments or filings required to be paid, made or maintained.

In the event that CCP becomes involved in any capacity in any action, proceeding or investigation
in connection with any matter referred to in this Agreement not resulting from or relating to CCP’s
recklessness, negligence, bad faith or intentional wrongful acts, the Company will reimburse CCP
for reasonable legal and other expenses as such expenses are incurred in connection therewith. The
Company will also indemnify and hold harmless CCP against losses, claims, damages or liabilities to
which CCP may become subject in connection with any matter referred to in this Agreement, except to
the extent that any such loss, claim, damage or liability results from the recklessness,
negligence, bad faith or intentional wrongful acts of CCP performing the services that are the
subject of this Agreement. The provisions of this Section Six shall survive any termination or
expiration of this Agreement for a period of twenty-four (24) months.

CCP agrees to indemnify and hold harmless the Company and each officer, director, employee, agent
or person, if any, who controls the Company within the meaning of the Securities Act and
the Exchange Act (the Company and each such person, a “Company Indemnified Person”), against any
and all liabilities, costs and expenses, to which any Company Indemnified Person may

9100 So. Dadeland Boulevard, Suite 1800-A, Miami, Florida 33156

Page 2 of 3

 

 

become subject, under the Securities Act, insofar as such liabilities, costs and expenses (or actions in
respect thereof), arise out of or are based directly or indirectly upon (i) any untrue statement or
of a material fact or misrepresentation made by CCP or its employees or agents, or (ii) any
omission to state a material fact required to be stated therein or necessary to make the statement
true, and such misrepresentation or omission under the foregoing clause (i) or (ii) was not made in
reliance upon and in conformity with information furnished by the Company to CCP, or (iii) CCP’s
recklessness, gross negligence, bad faith or intentional wrongful acts. CCP also agrees to
reimburse each Company Indemnified Person for all expenses as they are incurred in connection with
enforcing such Company Indemnified Person’s rights under this Agreement.

Section Seven

Governing Law

The laws of the State of Ohio shall govern this Agreement. Any controversy or claim arising out
of, or relating to, this Agreement, to the making, performance, or interpretation of it, shall be
settled by arbitration in Columbus, Ohio unless otherwise mutually agreed upon by the parties,
under the commercial arbitration rules of the American Arbitration Association then existing, and
any judgment on the arbitration award may be entered in any court having jurisdiction over the
subject matter of the controversy. If any legal action or any arbitration or other proceeding is
brought for the enforcement of this Agreement, or because of an alleged dispute, breach, default,
or misrepresentation in connection with any of the provisions of this Agreement, the successful or
prevailing party or parties shall be entitled to recover reasonable attorney’s fees and other costs
incurred in that action or proceeding, in addition to any other relief to which it or they may be
entitled. The Governing Law provisions shall survive any termination of this Agreement.

Section Eight

Integration

This Investment Banking Agreement along with the Merger & Acquisition Agreement contains the entire
Agreement among the parties and supersedes all prior oral and written agreements, understandings,
and representations among the parties. No amendments to this Agreement shall be binding unless
executed in writing by all the parties.

Section Nine

Confidentiality

Except as otherwise required by law, the terms of this Agreement shall not be disclosed by CCP to
any third party, with the exception of potential investors as part of their due diligence efforts,
without the prior written consent of both parties to this Agreement. CCP shall keep confidential
and not disclose any non-public information provided to it by or on behalf of the Company or by any
third-party, in relation to any of the services provided or to be provided by it to the Company,
except that it may disclose any such information to its advisors (which persons shall be bound by
similar confidentiality obligations and for which CCP shall accept full responsibility in
compliance with this Section) or as required by law or with the prior consent of the Company. The
restrictions in the preceding sentence shall not apply to information that becomes publicly
available through no fault of CCP or information that CCP may be required by law to disclose.

IN WITNESS WHEREOF, the parties to this Agreement have duly executed it on the day and year first
above written.

	 	 	 	 	 	 	 
	Adcare Health Systems, Inc.

	 	 	 	Capital City Partners LLC
	 	 
	 
	 	 	 	 	 	 
	/s/David A. Tenwick

	 	 	 	/s/Joseph A. Smith	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Name: David A. Tenwick

	 	 	 	Joseph A. Smith	 	 
	Title: Chairman

	 	 	 	Managing Director / Investment Banking	 	 
	 
	 	 	 	 	 	 
	Date: 12/28/06

	 	 	 	Date: 12/28/06	 	 

9100 So. Dadeland Boulevard, Suite 1800-A, Miami, Florida 33156

Page 3 of 3

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