Document:

Amendment No. 1 to AAD Device Supply Agreement

 Exhibit 10.22 
 AMENDMENT NO. 1 TO AAD DEVICE SUPPLY AGREEMENT 
 December 2, 2005 (effective October 1, 2005)

 This Amendment No. 1 to AAD Device Supply Agreement (“Amendment”) is made this second day of December, 2005,
effective as of October 1, 2005, by and between Respironics Respiratory Drug Delivery (UK) Ltd., formerly known as Profile Drug Delivery Ltd., with its principal place of business at Heath Place, Bognor Regis, West Sussex, PO22 9SL, United
Kingdom (“Respironics RDD UK”), and CoTherix, Inc. with its principal place of business at 5000 Shoreline Court, Suite 101, South San Francisco, California 94080 (“CoTherix”). 
 WHEREAS, Respironics RDD UK and CoTherix are parties to that certain AAD Device Supply Agreement dated December 29, 2004 (the
“Original Agreement” and together with this Amendment, the “Agreement”); and 
 WHEREAS, the parties wish
to amend the Original Agreement as set forth below. 
 NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as
follows: 
 1. Article 7 of the Original Agreement is hereby amended to read in its entirety as follows: 
 ARTICLE 7 - RIGHTS TO DISTRIBUTE; EXCLUSIVITY 
 7.1 Exclusivity with Respect to Ventavis and Iloprost. Except for any third party licensed by Schering (or any successor or assign of Schering) to distribute Ventavis or any other formulation of Iloprost in the
Territory during the Term (“Schering Iloprost Licensee”), CoTherix shall have the exclusive right, during the Term, to distribute in the Territory, with Ventavis and any formulation of Iloprost (or any product containing Iloprost
(in any form) as its active pharmaceutical ingredient), the AAD Devices and Successor AAD Devices (as hereinafter defined in this Section 7.1), and Consumables and Successor Consumables (as hereinafter defined in this Section 7.1).

 CoTherix shall not have any right to distribute AAD Devices and Successor AAD Devices, or Consumables and Successor Consumables,
(a) outside the Territory, (b) with any pharmaceuticals other than Ventavis or formulations of Iloprost (or any product containing Iloprost (in any form) as its active pharmaceutical ingredient), or (c) after the end of the Term.

 Respironics RDD UK shall retain the right to distribute AAD Devices and Successor AAD Devices and Consumables and Successor Consumables,
both inside and outside the Territory, provided that during the Term, neither Respironics RDD UK nor any of its affiliates shall, nor shall any of them grant to any third party other than a Schering Iloprost Licensee, the right to distribute or
offer for sale in the Territory AAD Devices and Successor AAD Devices and/or Consumables and Successor Consumables with, or otherwise use, exercise or exploit in the Territory, any AAD Device Medication Volume Work, Device IP or AAD Device
Medication Volume IP (all as defined in Article 11) in connection with Ventavis or Iloprost in any formulation (or any product containing Iloprost (in any form) as its active pharmaceutical ingredient), except on behalf of CoTherix under this
Agreement and on behalf of any other Schering Iloprost Licensee. 
 In the event of an early termination of this Agreement due to an uncured
Material Breach by Respironics RDD UK or a Bankruptcy of Respironics RDD UK, the exclusive rights granted to CoTherix (and corresponding restrictions on Respironics RDD UK) in this Section shall survive such termination for a period of time equal to
the remainder of the Initial Term had this Agreement not been terminated. 
  

 1 

 As used in this Agreement, the following terms shall have the meanings set forth below: 
 “AAD Devices” means the Prodose Device and the I-Neb. 
 “Successor AAD Devices” means (a) any future aerosol drug delivery device developed or marketed by or for Respironics RDD UK that is an improvement, derivative or new version of, or replacement
or substitute for, the Prodose Device or the I-Neb, provided that such future aerosol drug delivery device combines AAD Technology (as hereinafter defined) with vibrating mesh technology, and (b) if the Prodose Device is discontinued at a time
when the I-Neb is not available, or the I-Neb is discontinued at a time when Respironics RDD UK no longer offers for sale any aerosol drug delivery device that combines AAD Technology with a vibrating mesh technology, the aerosol drug delivery
device that Respironics RDD UK is marketing as the replacement for the Prodose Device, or the I-Neb, as applicable, even if such new aerosol drug delivery device does not combine AAD Technology with a vibrating mesh technology. 
 “AAD Technology” means proprietary technology of Respironics RDD UK that uses electronics and sensors contained within the aerosol drug
delivery device to do all of the following during the course of each treatment: (a) deliver aerosolized drug during the first part of an inspiratory breath, (b) analyze and monitor a patient’s preceding breaths, and (c) based on
the analysis of the preceding breaths, adapt the delivery of the aerosolized drug. 
 “Successor Consumables” means any
improvement, derivative or new version of, or replacement or substitute for, a Consumable, which is marketed, sold or otherwise disposed of, or licensed by or for Respironics RDD UK for use with AAD Devices and/or any Successor AAD Devices.

 7.2 Exclusivity in Pulmonary Hypertension Market. CoTherix has elected for the period beginning on October 1, 2005 and ending
on December 31, 2005 (the “Initial Exclusivity Period”), to receive, and Respironics RDD UK hereby grants CoTherix, the exclusive right, in the Territory, to distribute (itself or through one or more distribution layers), offer
for sale or otherwise dispose of AAD Devices and Successor AAD Devices and Consumables and Successor Consumables, with any and all compounds belonging to the prostacyclin class of compounds or that are synthetic or naturally occurring analogues of
prostacyclin capable of binding to the prostaglandin I2 (PG I2) receptor (collectively, the “Prostacyclin Class”), marketed in the Territory, with respect to which marketing approval has been sought or which is otherwise under
development for, the treatment of pulmonary hypertension or any indication by whatever name characterized by elevated blood pressure in the arteries that supply the lungs (“Pulmonary Hypertension Market Exclusivity”). 
 Accordingly and without limitation of the foregoing, during the Initial Exclusivity Period and any subsequent period during which CoTherix retains the
Pulmonary Hypertension Market Exclusivity, neither Respironics RDD UK nor any of its affiliates shall, nor shall any of them grant to any third party the right, in the Territory, to distribute, offer for sale or otherwise dispose of AAD Devices,
Successor AAD Devices, Consumables and/or Successor Consumables with, or otherwise use, exercise or exploit in the Territory, any AAD Device Medication Volume Work, Device IP or AAD Device Medication Volume IP (all as defined in Article 11) in
connection with, any pharmaceutical in the Prostacyclin Class, marketed in the Territory, with respect to which marketing approval has been sought or which is otherwise under development, for the treatment of pulmonary hypertension or any indication
by whatever name characterized by elevated blood pressure in the arteries that supply the lungs. 
  

 2 

 The exclusivity fee (“Exclusivity Fee”) for the Initial Exclusivity Period shall be [* *
*]. CoTherix may retain Pulmonary Hypertension Market Exclusivity in subsequent calendar years during the Term by paying to Respironics RDD UK an Exclusivity Fee of [* * *] per calendar year, which Exclusivity Fee shall be due on [* * *] of each
calendar year during the Term, beginning [* * *], 2006. 
 CoTherix shall have the option to terminate Pulmonary Hypertension Market
Exclusivity by electing not to pay the Exclusivity Fee in a particular calendar year (provided that Respironics RDD UK shall give CoTherix written notice of such non-payment and a five (5) day cure period after CoTherix’s receipt of such
notice to make such payment prior to termination of such exclusivity), but thereafter may regain Pulmonary Hypertension Market Exclusivity only with the agreement of Respironics RDD UK, which agreement may be withheld in the sole discretion of
Respironics RDD UK. 
 If, prior to the end of a calendar year with respect to which CoTherix has paid an Exclusivity Fee, Respironics RDD UK
terminates this Agreement for any reason other than an uncured Material Breach by or Bankruptcy of CoTherix, or if this Agreement is terminated or expires due to an uncured Material Breach by or Bankruptcy of Respironics RDD UK, Respironics RDD UK
shall within ten (10) calendar days refund to CoTherix the prorated portion of the Exclusivity Fee remaining for that calendar year from the date of such termination or expiration. 
 For purposes of clarification, if CoTherix elects to pay the Exclusivity Fee in any calendar year, this Agreement does not cover the terms of any
distribution by CoTherix of AAD Devices and Successor AAD Devices or Consumables and Successor Consumables with any pharmaceutical other than Ventavis or any formulation of Iloprost (or any product containing Iloprost (in any form) as its active
pharmaceutical ingredient) for which required regulatory clearance(s) and approval(s) have been granted. Any distribution by CoTherix of AAD Devices and Successor AAD Devices or Consumables and Successor Consumables with a pharmaceutical other than
Ventavis or any formulation of Iloprost (or any product containing Iloprost (in any form) as its active pharmaceutical ingredient) for which required regulatory clearance(s) and approval(s) have been granted would be the subject of a separate
agreement. 
 2. Section 13.2 of the Original Agreement is hereby amended to read in its entirety as follows:

 13.2 Termination for Material Breach Under the Specialty Pharmacy Company Supply Agreement. 
 (a) Termination of this Agreement by Respironics RDD UK for Breach by Specialty Pharmacy Company of Specialty Pharmacy Company Supply
Agreement. This Agreement may be terminated by Respironics RDD UK in the case of a material breach of the Specialty Pharmacy Company Supply Agreement by the Specialty Pharmacy Company (“Specialty Pharmacy Material Breach”),
which Specialty Pharmacy Material Breach (i) if a payment default, is not cured by the Specialty Pharmacy Company within thirty (30) days following the giving by Respironics RDD UK to CoTherix and the Specialty Pharmacy Company of written
notice of such Specialty Pharmacy Material Breach; provided, however, that, in such event, Respironics RDD UK shall provide CoTherix a second notice of the Specialty Pharmacy Company’s failure to cure such breach and Respironics RDD UK may only
exercise such termination right if CoTherix does not cure such breach within an additional thirty (30) days from such second notice to CoTherix; or (ii) if a default other than a payment default, is not cured by the Specialty Pharmacy
Company within sixty (60) days following the giving by Respironics RDD UK to the Specialty Pharmacy Company and CoTherix of written notice of such Specialty Pharmacy Material Breach; provided, however, that, in such event, Respironics RDD UK
shall provide CoTherix a second notice of the Specialty Pharmacy’s failure to cure such breach and Respironics RDD UK may only exercise such termination right if CoTherix does not cure such breach within an additional thirty (30) days from
such second notice to CoTherix. 
  

 3 
 Confidential treatment has been requested as to certain portions of this agreement. Such omitted confidential information has been designated by asterisks and has been filed separately with the Securities and Exchange Commission.

 (b) Termination of this Agreement by CoTherix for Breach by Respironics RDD UK of
Specialty Pharmacy Company Supply Agreement. This Agreement may be terminated by CoTherix in the case of a material breach of the Specialty Pharmacy Company Supply Agreement by Respironics RDD UK (“Respironics RDD UK Specialty Pharmacy
Agreement Material Breach”), which Respironics RDD UK Specialty Pharmacy Agreement Material Breach (i) if a payment default, is not cured by Respironics RDD UK within thirty (30) days following the giving by CoTherix to
Respironics RDD UK of written notice of such Respironics RDD UK Specialty Pharmacy Agreement Material Breach; or (ii) if a default other than a payment default, is not cured by Respironics RDD UK within sixty (60) days following the giving
by CoTherix to Respironics RDD UK of written notice of such Respironics RDD UK Specialty Pharmacy Agreement Material Breach. 
 3. A new Section 13.7 is hereby added to the Original Agreement to read in its entirety as follows: 
 13.7 Termination of this
Agreement does not affect the right of either party to take enforcement action against the other party to enforce the terms of this Agreement, it being the intent of the parties that each party have all rights that may be available to it in law or
at equity in the event of a breach of this Agreement by the other party. Without limiting the foregoing, Respironics RDD UK acknowledges that a Respironics RDD UK Specialty Pharmacy Agreement Material Breach (as defined in Section 13.2(b) above) is
a material breach of this Agreement and that CoTherix shall have the right to enforce against Respironics RDD UK, Respironics RDD UK’s obligations to the Specialty Pharmacy Company under the Specialty Pharmacy Company Supply Agreement. Further
provided, however, that it is acknowledged that Respironics RDD UK’s sole remedy against CoTherix (but not against the Specialty Pharmacy Company with respect to which Respironics RDD UK retains all remedies available to it at law or in equity
to enforce the Specialty Pharmacy Company Supply Agreement against the Specialty Pharmacy Company), for a Specialty Pharmacy Material Breach (defined in Section 13.2(a) above) is limited to termination of this Agreement pursuant to
Section 13.2(a). 
 4. Except as specifically modified in this Amendment, the Original Agreement remains unchanged and is in full force and effect.
Capitalized terms used but not defined in this Amendment have the meanings ascribed to them in the Original Agreement. This Amendment may not be modified or changed except in a writing signed by both Respironics RDD UK and CoTherix. This Amendment
shall be governed by, and construed in accordance with, the internal laws of the State of Delaware, without regard to choice of law principles. 
 IN WITNESS WHEREOF, the parties hereby affix their signatures as acceptance of the terms and conditions contained herein as of the date first above written. 
  

									
	RESPIRONICS RESPIRATORY DRUG DELIVERY (UK) LTD.	 	CoTHERIX, INC.
					
	By:	 	 /s/ Susan A. Lloyd
	 		 	By:	 	 /s/ Donald J. Santel

	Name Printed:	 	Susan A. Lloyd	 		 	Name Printed:	 	Donald J. Santel
	Title:	 	Vice President	 		 	Title:	 	Chief Executive Officer
					
		 		 		 	By:	 	 /s/ Thomas L. Feldman

		 		 		 	Name Printed:	 	Thomas L. Feldman
		 		 		 	Title:	 	 President and
 Chief Business Officer

  

 4Employment Offer Letter dated December 7, 2003

 Exhibit 10.28 
 [COTHERIX LETTERHEAD] 
 December 7, 2003 
 Klara A. Dickinson 
 3067 Terrace Drive 
 Aptos, CA 95003 
 Dear Klara: 
 CoTherix, Inc.
(the “Company”) is pleased to offer you employment on the following terms: 
 1. Position. Your initial title will be
Director, Regulatory Affairs, and you will initially report to the Company’s President & COO. This is a full-time position. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other
legal obligations that would prohibit you from performing your duties for the Company. 
 2. Cash Compensation. The Company will
pay you a starting salary at the rate of $140,000 per year, payable in accordance with the Company’s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect
from time to time. In addition, you will be eligible to receive the following bonuses: 
  

	 	•	 	a sign-on bonus of $5,000 payable within 30 days of your start date 

  

	 	•	 	a $25,000 bonus for completing filing of the Ventavis® NDA. This bonus is payable within 30 days of the NDA filing acceptable date. 

 Termination with cause or your resignation within the first 12 months of your employment requires that you re-pay the sign-on bonus within 30 days of your date of your
termination. The determinations of the Company’s Board of Directors with respect to your bonus will be final and binding. 
 3.
Employee Benefits. As a regular employee of the Company, you will be eligible to participate in a number of Company-sponsored benefits. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy,
as in effect from time to time. 

 Klara Dickinson 
 December 7, 2003 
 Page 2 
 4. Stock Options. Subject to the approval of the Company’s Board of Directors or it
Compensation Committee, you will be granted an option to purchase 73,505 shares of the Company’s Common Stock (share number reflects reverse split). The exercise price per share will be equal to the fair market value per share on the date the
option is granted or on your first day of employment, whichever is later. The option will be subject to the terms and conditions applicable to options granted under the Company’s 2000 Stock Plan (the “Plan”), as described in the Plan
and the applicable Stock Option Agreement. The option will be immediately exercisable, but the unvested portion of the purchased shares will be subject to repurchase by the Company at the exercise price in the event that your service terminates for
any reason before you vest in the shares. You will vest in 25% of the option shares after 12 months of continuous service, and the balance will vest in equal monthly installments over the next 36 months of continuous service, as described in the
applicable Stock Option Agreement. 
 5. Proprietary Information and Inventions Agreement. Like all Company employees, you will be
required, as a condition of your employment with the Company, to sign the Company’s standard Proprietary Information and Inventions Agreement, a copy of which is attached hereto as Exhibit A. 
 6. Employment Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at
will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this letter agreement. This is the
full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will”
nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you). 
 7. Outside Activities. While you render services to the Company, you agree that you will not engage in any other employment, consulting or other business activity without the prior written consent of the
Company. While you render services to the Company, you also will not assist any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company. 
 8. Withholding Taxes. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable withholding
and payroll taxes and other deductions required by law. 
 9. Entire Agreement. This letter agreement supersedes and replaces any
prior agreements, representations or understandings, whether written, oral or implied, between you and the Company. 

 Klara Dickinson 
 December 7, 2003 
 Page 3 
 10. Arbitration. You and the Company agree to waive any rights to a trial before a judge or
jury and agree to arbitrate before a neutral arbitrator any and all claims or disputes arising out of this letter agreement and any and all claims arising from or relating to your employment with the Company, including (but not limited to) claims
against any current or former employee, director or agent of the Company, claims of wrongful termination, retaliation, discrimination, harassment, breach of contract, breach of the covenant of good faith and fair dealing, defamation, invasion of
privacy, fraud, misrepresentation, constructive discharge or failure to provide a leave of absence, or claims regarding commissions, stock options or bonuses, infliction of emotional distress or unfair business practices. 
 The arbitrator’s decision must be written and must include the findings of fact and law that support the decision. The arbitrator’s decision
will be final and binding on both parties, except to the extent applicable law allows for judicial review of arbitration awards. The arbitrator may award any remedies that would otherwise be available to the parties if they were to bring the dispute
in court. The arbitration will be conducted in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association; provided, however that the arbitrator must allow the discovery authorized by the
California Arbitration Act or the discovery that the arbitrator deems necessary for the parties to vindicate their respective claims or defenses. The arbitration will take place in San Mateo County or, at your option, the county in which you
primarily worked with the Company at the time when the arbitrable dispute or claim first arose. 
 You and the Company will share the costs
of arbitration equally, except that the Company will bear the cost of the arbitrator’s fee and any other type of expense or cost that you would not be required to bear if you were to bring the dispute or claim in court. Both the Company and you
will be responsible for their own attorneys’ fees, and the arbitrator may not award attorneys’ fees unless a statute or contract at issue specifically authorizes such an award. 
 The foregoing notwithstanding, this arbitration provision does not apply to (a) workers’ compensation or unemployment insurance claims or
(b) claims concerning the ownership, validity, infringement, misappropriation, disclosure, misuse or enforceability of any confidential information, patent right, copyright, mask work, trademark or any other trade secret or intellectual
property held or sought by either you or the Company (whether or not arising under the Proprietary Information and Inventions Agreement between you and the Company). 
 If an arbitrator or court of competent jurisdiction (the “Neutral”) determines that any provision of this arbitration provision is illegal or unenforceable, then the Neutral shall modify or replace the
language of this arbitration provision with a valid and enforceable provision, but only to the minimum extent necessary to render this arbitration provision legal and enforceable. 
 ****** 

 Klara Dickinson 
 December 7, 2003 
 Page 4 
 We hope that you will accept our offer to join the Company. You may indicate your agreement with
these terms and accept this offer by signing and dating both the enclosed duplicate original of this letter agreement and the enclosed Proprietary Information and Inventions Agreement and returning them to me. This offer, if not accepted, will
expire at the close of business on December 15, 2003. As required by law, your employment with the Company is contingent upon your providing legal proof of your identity and authorization to work in the United States. Your employment is also
contingent upon your starting work with the Company on or before January 5, 2004. 
 If you have any questions, please call me at
650-486-2102. 
  

			
	Very truly yours,
	
	COTHERIX, INC.
		
	By:	 	 /s/ Donald J. Santel

		 	Donald J. Santel
	Title:	 	President & COO

 I have read and accept this employment offer: 
  

			
	 /s/ Klara Dickinson

	Signature of Klara Dickinson
		
	Dated:	 	12/10/03

 Attachment 
 Exhibit A: Proprietary Information and Inventions Agreement

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