Document:

Exhibit 4.1

 

DYAX CORP.

 

AND

 

AMERICAN STOCK TRANSFER & TRUST COMPANY,

RIGHTS AGENT

 

AMENDMENT No. 1

 

TO

 

RIGHTS AGREEMENT

 

Effective as of June 24, 2009

 

This Amendment No. 1 to the Rights Agreement dated
as of, June 27, 2001 (the “Amendment”) between Dyax Corp., a Delaware corporation
(the “Company”), and American Stock Transfer & Trust Company, as
Rights Agent (the “Rights Agent”).

 

WHEREAS, the Company and the Rights Agent are parties
to a Rights Agreement, dated as of June 27, 2001 (the “Rights Agreement”);

 

WHEREAS, there is not as of the date hereof any
Acquiring Person (as defined in the Rights Agreement) and there has not been a
Distribution Date (as defined in the Rights Agreement);

 

WHEREAS, no Triggering Event (as defined in the Rights
Agreement) has occurred; and

 

WHEREAS, on June 24, 2009, the Board of Directors
of the Company has determined to amend the Rights Agreement (the terms defined
therein and not and not otherwise defined herein being used herein as therein
defined);

 

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

 

Section 1.               Amendment to Section 1(a) of
the Rights Agreement.  The definition of Section 1(a) of
the Rights Agreement is deleted and replaced in its entirety by the following:

 

(a)  “ACQUIRING PERSON” shall mean any Person who
or which, together with all Affiliates and Associates of such Person, shall be
the Beneficial Owner of 15% or more of the shares of Common Stock then
outstanding, but shall not include (i) the Company or any Company
Affiliate or (ii) Federated Investors, Inc., its Affiliates and
Associates (“Federated”), but only so long as (A) Federated is the
beneficial owner of not more than nineteen and ninety-nine one hundredths
percent (19.99%) of the shares of Common Stock then outstanding and (B) Federated
reports or is required to report such ownership on Schedule 13G of the Exchange
Act or on Schedule 13D under the Exchange Act (or any comparable or successor
report) and such Schedule 13D states that the shares (or any beneficial
ownership thereof, as the case may be) were not acquired and are not
held for the purpose of or with the effect of changing or influencing the
control of the Company and were not acquired and are not held in connection 

 

 

with or as a participant in any transaction having
that purpose or effect or the Board determines in good faith that such Schedule
13D sufficiently demonstrates the foregoing. 
Notwithstanding the foregoing:

 

(i) a Person
shall not become an “Acquiring Person” solely as the result of an acquisition
of shares of Common Stock by the Company or any Subsidiary which, by reducing
the number of shares outstanding, increases the proportionate number of shares
beneficially owned by such Person to 15% or more of the shares of Common Stock
then outstanding as determined above; PROVIDED, HOWEVER, that if a Person
becomes the Beneficial Owner of 15% or more of the shares of Common Stock then
outstanding as determined above solely by reason of such a share acquisition by
the Company and such Person shall, after becoming the Beneficial Owner of such
Common Stock, become the Beneficial Owner of any additional share of Common
Stock by any means whatsoever (other than as a result of the subsequent
occurrence of a stock dividend or a subdivision of the Common Stock into a
larger number of shares or a similar transaction), then such Person shall be
deemed to be an “Acquiring Person;” and

 

(ii) if a
majority of the Board determines in good faith that a Person who would otherwise
be an “Acquiring Person,” as defined pursuant to the foregoing provisions of
this Section 1(a), has become such inadvertently, and such Person divests
as promptly as practicable a sufficient number of shares of Common Stock so
that such Person would no longer be an “Acquiring Person,” as defined pursuant
to the foregoing provisions of this Section 1(a), then such Person shall
not be deemed to be an “Acquiring Person” for any purposes of this Agreement.
The determination of whether such Person’s becoming an Acquiring Person shall
have been inadvertent and the determination of whether the divestment of
sufficient shares shall have been made as promptly as practicable shall be made
by the Board.

 

Section 2.               Rights
Agreement Effectiveness.  Except to the extent
specifically amended hereby, the Rights Agreement and all related documents as
amended hereby shall remain in full force and effect.  Whenever the terms or sections amended hereby
shall be referred to in the Rights Agreement, or such other documents (whether
directly or by incorporation into other defined terms), such defined terms
shall be deemed to refer to those terms or sections as amended by this
Amendment.

 

Section 3.               Governing Law. 
This Amendment shall be deemed to be a contract under the laws of the
Commonwealth of Massachusetts and for all purposes shall be governed by and
construed in accordance with the provisions of the Rights Agreement except to
the extent specifically amended hereby.

 

Section 4.               Counterparts. 
This Amendment may be executed in any number of counterparts and each of
such counterparts shall be for all purposes deemed to be an original in all
such counterparts together shall constitute but one in the same instrument.

 

[signature page follows]

 

2

 

IN WITNESS WHEREOF, the parties shall have caused this
Amendment to be duly executed as an instrument under seal and attested, all as of
the day and year first above written.

 

	
  Attest:

  	
  DYAX
  CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
     /s/ Nicole P. Jones

  	
   

  	
  By: 

  	
     /s/ George Migausky

  
	
  Name:
  Nicole P. Jones

  	
  Name:

  	
  George
  Migausky

  
	
   

  	
  Title:

  	
  Chief
  Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  Attest:

  	
  AMERICAN
  STOCK TRANSFER & TRUST COMPANY, as Rights Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/
  Susan Silber

  	
   

  	
  By:

  	
  /s/
  Herbert J. Lemmer

  
	
  Name:

  	
  Susan
  Silber

  	
  Name:

  	
  Herbert
  J. Lemmer

  
	
   

  	
  Assistant
  Secretary

  	
  Title:

  	
  Vice
  President

  
									

 

3CC Filed by Filing Services Canada Inc. 403-717-3898

EXHIBIT 10.1

EXTENSION AGREEMENT

1. Date of Agreement:

This EXTENSION AGREEMENT is dated January 29, 2009.

2. Parties to this agreement:

This EXTENSION AGREEMENT, herein referred to as the “agreement” unless specifically stated otherwise, is made by and between;

Hollund Industrial Robotics Inc, a wholly owned Canadian subsidiary of Hollund Industrial Marine Inc, a publicly traded company incorporated in the State of Washington and herein referred to as the “Buyer”,

and

Valor Energy Corp, a Nevada corporation herein referred to as the “Seller”,

Both the Buyer and the Seller collectively herein referred to as the “parties”.

3. Governing agreement:

This agreement shall be governed by the terms of the Tiger•Lynk Purchase & Sale Agreement dated January 20, 2008, together with the Letter Agreement dated February 20, 2008, and including the subsequent amendments as agreed to in the Addendum to the Letter Agreement dated March 25, 2008 and the AddendumB to the Letter Agreement dated June 24, 2008. Only those terms specifically referenced herein shall be amended, leaving all other terms in full force and effect.

4. Scope of this agreement:

Under the terms of the governing agreement and its subsequent amendments, and certain other previous arrangements, the Buyer is owing to the Seller the following outstanding amounts as of the date of this agreement;

i) The amount of $2,370 (US) to complete the September 15, 2008 payment. (This portion of the payment has been assigned to MFM Client Services for prior services rendered, however is still due and payable),

ii) The amount of $80,000 (US) representing the remaining balance of the purchase price for the Tiger•Lynk technology rights patents, blueprints and drawings,

iii) Valor is agreeable to waive any penalties for extending the payment deadline, in return for the $15,000 (US) balance owing for consulting services rendered during the months of October to December 2008.

The Buyer is desirous of extending the deadline of payment, as set forth herein, and the Seller is agreeable to such, provided that in the event of default of new payment terms, as set forth herein, that a clear understanding of the terms that shall govern, also as set forth herein shall govern. 

5. Terms of extension; 

The balance owing to Valor, as set forth in item 4. above, shall hereby be paid in accord with the following amended terms;

i) The sum of $2,370 (US) as per section 4.(i) above will be paid on or before February 1, 2009, 

ii) The sum of $25,000 (US) will be paid on or before February 1, 2009.

iii) The sum of $25,000 (US) will be paid on or before April 1, 2009.

iv) The sum of $45,000 (US) will be paid on or before May 1, 2009

6. Terms of Default;

In the event of default of the payment terms set forth in section 5. i), ii), iii) and iv) the following terms will govern;

i) Article 3. 1), of the original Tiger•Lynk Purchase & Sale Agreement dated January 20, 2008, shall apply.

ii) Valor will provide compensation to Hollund for the payments made on the technology.

IN WITNESS WHEREOF, THIS ADDENDUM SHALL BE EFFECTIVE AS OF the date of this agreement.

Each signatory hereto acknowledges that he/she occupies the position designated and is thereby authorized to sign on behalf of his or her respective parties.

HOLLUND INDUSTRIAL ROBOTICS INC.                
VALOR ENERGY CORP.

\S\ Lonnie Hayward_____     

\S\ Sheridan Westgarde

Lonnie Hayward, President

Sheridan Westgarde, CEO

HOLLUND INDUSTRIAL MARINE INC.

________________________

Michael Lacy, CEO

 

 

 

Extension Agreement with Hollund dated January 23, 2009

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