Document:

EXHIBIT 10.28(a)

 

RELIANT
PHARMACEUTICALS, INC.

110 Allen
Road

Liberty Corner, NJ 07938

 

March 30, 2007

 

Mr. Joe Zakrzewski

 

Re:  Amendment to Section 11
of Separation Agreement

 

Dear Joe:

 

Reference is made to the Separation Agreement (the “Agreement”)
between Reliant Pharmaceuticals, Inc. and you, which agreement was executed by
you on March 12, 2007 and by Reliant on March 18, 2007. Capitalized terms used
but not otherwise defined in this letter have the meanings ascribed to them in
the Agreement.

 

Section 11 of the Agreement is hereby amended by deleting Section 11
there of in its entirety and substituting the following in lieu thereof: “[Intentionally
Omitted]”

 

With the exception of the amendment to Section 11 of the Agreement set
forth above, all other terms and conditions of the Agreement shall remain
unchanged and in full force and effect.

 

If the foregoing represents our understanding with respect to the
amendment to Section 11 of the Agreement, please execute a copy of this letter
in the space indicated below, and return the signed copy to Michael A. Pucker
of Latham & Watkins LLP by e-mail (michael.pucker@lw.com) or fax
(312-993-9767).

 

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  RELIANT PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Agreed to and Accepted as of the date first

  above written:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Joseph S. ZakrzewskiEXHIBIT 10.29

 

SECURED PROMISSORY NOTE

 

	
  $200,000

  	
  May            ,
  2001

  
	
   

  	
  Bridgewater, New Jersey

  

 

1.             Principal
Amount. For value received, the undersigned (“Maker”),
does hereby promise to pay to the order of Reliant Pharmaceuticals, LLC, a
Delaware limited liability company, or its assignee (“Payee”),
the principal sum of Two Hundred Thousand Dollars ($200,000) (the “Loan”), upon the terms and conditions set forth herein.

 

2.             Interest.

 

(a)           Accrual of Interest. Interest
shall accrue on the unpaid principal of this promissory note (the “Note”) from the date hereof until all amounts due hereunder
are paid in full at a fluctuating interest rate per annum equal to the Prime
Rate, compounded annually. “Prime Rate”
shall mean the rate of interest announced by Bank One, N.A. (or its successors)
from time to time as its “Prime Rate.” 
Interest hereon shall be calculated on the basis of the actual number of
days elapsed and a year of 365 days. Payments of interest on the unpaid
principal hereof shall be due and payable pursuant to Sections 3 or 4 hereof,
as appropriate.

 

(b)           No Usury. It is the intention
of Maker and Payee to conform to applicable usury laws, if any. Accordingly,
notwithstanding anything to the contrary in this Note or any other agreement
entered into in connection herewith, it is agreed as follows:  (i) the aggregate of all interest and any
other charges constituting interest under applicable law and contracted for,
chargeable, or receivable under this Note or otherwise in connection with the
obligation evidenced hereby shall under no circumstances exceed the maximum
amount of interest permitted by applicable law, if any, and any excess shall be
deemed a mistake and cancelled automatically and, if theretofore paid, shall,
at the option of Maker, be refunded to Maker or credited on the principal
amount of this Note; and (ii) in the event that the entire unpaid balance of
this Note is declared due and payable by Payee, then earned interest may never
include more than the maximum amount permitted by applicable law, if any, and
any unearned interest shall be cancelled automatically and, if theretofore
paid, shall at the option of Maker, either be refunded to Maker or credited, to
the extent permitted by law, on the principal amount of this Note.

 

3.             Post-Maturity
Interest. Any amount of principal and/or interest hereon which is not paid
when due, whether at stated maturity, by acceleration or otherwise, shall bear
interest from the date when due until said principal and/or interest amount is
paid in full, at the lesser of (a) an interest rate equal to two percent (2%)
per annum in excess of the interest rate set forth in Section 2(a) hereof and
(b) the highest rate of interest allowable under applicable law.

 

 

4.             Payments.

 

(a)           Principal; Interest and Enforcement
Costs. Subject to Sections 5(b) and 7 below, (i) the outstanding principal
amount of this Note, (ii) all accrued and unpaid interest thereon and (iii) all
of Payee’s costs and expenses (including reasonable fees and expenses of Payee’s
attorneys, accountants and other professional commitments) of enforcing this
Note (“Enforcement Costs”), shall be due and
payable in full on the earliest to occur of (A) the fifth anniversary of the
date hereof, (B) any acceleration of the Obligations pursuant to Section 7
below, (C) 90 days following the termination of Maker’s employment with Reliant
Pharmaceuticals, LLC (the “Company”) (I)
by the Company without Cause (as defined in the Company’s Equity Incentive
Plan), (II) by the Maker for good reason (as determined by the Compensation
Committee of the Board of Managers of the Company), or (III) upon the death or
Disability (as defined in the Company’s Equity Incentive Plan) of the Maker and
(D) the termination of Maker’s employment with the Company for any reason other
than as set forth in clause (C) of this Section (each such event, the “Maturity”). All amounts due under this Note, including,
without limitation, principal, interest and Enforcement Costs are collectively
referred to herein as the “Obligations”.

 

(b)           Making of Payments. All
payments of the Obligations in respect of this Note shall be made by delivery
of a certified or bank cashier’s check or of other immediately available funds
and delivered to Payee on the date or dates due at the address of Payee set
forth on the signature page hereof, or at such other place as the holder hereof
may from time to time designate in writing. Whenever any payment on this Note
shall be stated to be due on a day which is not a Business Day (as defined
below), such payment shall be made on the next succeeding Business Day and such
extension of time shall be included in the computation of the payment of
interest on this Note. For purposes of this Note, “Business Day”
means each day other than a Saturday, a Sunday or any other day on which
banking institutions in Newark, New Jersey are authorized or obligated by law
or executive order to be closed.

 

5.             Prepayment.

 

(a)           Voluntary Prepayment. Maker,
without premium or penalty, may prepay the Obligations in whole or in part upon
three (3) Business Days’ prior written notice to Payee.

 

(b)           Mandatory Prepayment. Maker
shall promptly prepay the Obligations (i) with 100% of the proceeds of any
transfer, sale, disposition, pledge, hypothecation or encumbrance (a “Transfer”) of all or any portion of Maker’s equity interest
in the Company (whether owned directly or indirectly), (ii) to the extent
of all after-tax proceeds of any distribution received by Maker in respect of
or on account of Maker’s equity interest in the Company (whether owned directly
or indirectly), exclusive of distributions made expressly to pay income taxes
of Maker with respect to Maker’s investment in the Company and (iii) to the
extent of 50% of after-tax proceeds of any

 

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bonus payments made by the Company or its subsidiaries
to Maker. To the extent practicable, Maker hereby instructs the Company to pay
over all amounts subject to mandatory prepayment under this Section 5(b)
directly to the Payee, and such payments shall be deemed to have been made to
the Maker by the Company and then paid by Maker to Payee.

 

(c)           Application of Prepayment Proceeds.
All proceeds of any prepayments made pursuant to this Section 5 shall be
applied first to the payment of Enforcement Costs, second to the payment of
accrued but unpaid interest hereon and third to the payment of the outstanding
principal balance of this Note.

 

6.             Events
of Default. The occurrence of any one or more of the following events shall
constitute an “Event of Default” under this Note:

 

(a)           Principal Payment Default. Maker
shall fail to pay the outstanding principal amount due hereunder, or any
portion thereof within (5) days of when due, whether at Maturity, at such
earlier date as is required by Sections 5(b) and/or 7, or otherwise;

 

(b)           Interest and Enforcement Cost
Payment Default. Maker shall fail to pay any interest which has accrued
hereunder or any Enforcement Costs within (5) days of when due;

 

(c)           Dissolution; Termination. The
dissolution, termination and/or liquidation of the Company;

 

(d)           Covenant Default. Maker shall
default in the observance or performance of any covenant or agreement contained
in this Note (other than those set forth in Sections 6(a), 6(b), 6(c), 6(e),
6(f), 6(g) and 6(h)) and such default shall not of its nature be curable by
Maker, or if such default shall be curable, such default shall continue uncured
for a period of ten (10) days after receipt by Maker of written notice from
Payee to such effect;

 

(e)           Bankruptcy, etc. Maker becomes
insolvent or generally fails to pay, or admits in writing his inability or
refusal to pay, his debts as they become due; or Maker’s application for,
consent to or acquiescence in, the appointment of a trustee in bankruptcy,
receiver or other custodian for Maker or any of his property or assets, or
Maker’s making a general assignment for the benefit of his creditors; or, in
the absence of such application, consent or acquiescence, a trustee, receiver
or other custodian is appointed for Maker or for a substantial part of his
property or assets and such appointment is not discharged within 60 days
thereafter; or any bankruptcy, reorganization, debt arrangement or other case
or proceeding under any bankruptcy or insolvency law, or any liquidation
proceeding is commenced in respect of Maker and, if such case or proceeding is
not commenced by Maker, it is either (i) consented to or acquiesced in by
Maker, or (ii) remains undismissed for 60 days;

 

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(f)            Default under Other Obligations
to the Company. Maker defaults on any obligations of Maker to the Company
(or its subsidiaries) under any agreements between the Company (and/or its
subsidiaries) and the Maker relating to Maker’s employment or engagement by the
Company (and/or its subsidiaries), including without limitation, the Company’s
Equity Incentive Plan, which default has not been cured during any applicable
cure period provided in such agreements;

 

(g)           Default under Collateral
Assignment. Maker defaults under the Collateral Assignment dated as of the
date hereof (the “Collateral Assignment”)
made by the Maker in favor of the Payee;

 

(h)           Use of Proceeds. Use of the
proceeds of the Loan for any purpose other than payment of the exercise price
upon the “early exercise” of Maker’s options to acquire Class One Common
limited liability company units from the Company;

 

7.             Remedies.
Upon or at any time after the occurrence of an Event of Default specified in
Sections 6(a), 6(b), 6(c), 6(d), 6(f), 6(g) or 6(h) hereof, the Obligations
shall, at the option of Payee, become due and payable without presentment,
demand, protest, notice of acceleration, notice of intent to accelerate or
other notice of any kind, all of which are hereby expressly waived by Maker,
anything in this Note to the contrary notwithstanding. Upon the occurrence of
an Event of Default specified in Section 6(e) hereof, the Obligations shall
thereupon and concurrently therewith become due and payable. The Maker and
every endorser or guarantor hereof agrees, subject only to any limitation
imposed by law, to pay on demand all expenses, including reasonable attorneys’
fees, disbursements and legal expenses, incurred by the holder of this Note in
endeavoring to collect any amounts payable hereunder which are not paid when
due, whether by acceleration or otherwise, in addition to any other remedy
available in law or equity.

 

8.             Waivers.
Maker and every endorser and guarantor of this Note hereby jointly and
severally waives presentment, demand, notice, protest and all other demands and
notices in connection with the delivery, acceptance, performance, default or
enforcement hereof that no such extension or other indulgence, and no
substitution, release or surrender of collateral, and no discharge or release
of any other party primarily or secondarily liable hereof, shall discharge or
otherwise affect the liability of Maker. No delay or omission on the part of
holder in exercising any right hereunder shall operate as a waiver of any such
right, and the waiver of any such right on any one occasion shall not be
construed as a bar to or waiver of any such right on any future occasion.

 

9.             Security.
This Note is secured by Maker’s equity interests in the Company pursuant to the
Collateral Assignment.

 

10.           Transfer
of Note. Until notified by Payee in writing of the transfer of this Note,
Maker shall be entitled to deem Payee or such person who has been so identified
by Payee in writing to Maker as the owner and holder of this Note.

 

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11.           Notices.
Every notice or other communication required or desired to be given hereunder
shall be in writing and shall be delivered either by personal delivery,
telegram, a nationally recognized courier service, postage-prepaid certified or
registered mail, return receipt requested, or facsimile transmission with
acknowledgment of receipt, addressed to the party to whom intended at the
address set forth on the signature page attached to this Note or at such other
address as the intended recipient previously shall have designated by written
notice. Notice by courier or certified or registered mail shall be effective on
the date it is officially recorded as delivered to the intended recipient by
return receipt or similar acknowledgment, or the date of attempted delivery
where delivery is refused by the intended recipient. All notices and
communications delivered in person shall be deemed to have been delivered to
and received by the addressee, and shall be effective, on the date of personal
delivery. Any notice transmitted by telegram or facsimile transmission shall be
deemed to have been delivered to and received by the addressee, and shall be
effective, on the date said notice is delivered to the telegram company for
transmission or received by the recipient, respectively.

 

12.           Governing
Law. This Note shall be governed and construed and the rights and
liabilities of the parties hereto shall be determined in accordance with the
internal laws of the State of New Jersey, without regard to the conflict of laws
principles thereof.

 

13.           Jurisdiction;
Service of Process. Maker hereby submits to the nonexclusive jurisdiction
of the United States Federal and State of New Jersey courts for all purposes of
or in connection with this Agreement; provided that nothing in this Agreement
shall affect Payee’s right to bring any action or proceeding against Maker or
Maker’s property in the courts of any other jurisdiction. Maker hereby consents
to process being served in any suit, action or proceeding of the nature
referred to above either (a) by the mailing of a copy thereof by registered or
certified mail, postage prepaid, return receipt requested, to its address shown
below its signature hereto or (b) by serving a copy thereof upon Maker’s
authorized agent for service of process (to the extent permitted by applicable
law, regardless whether the appointment of such agent for service of process
for any reason shall prove to be ineffective or such agent for service of
process shall accept or acknowledge such service); provided that, to the extent
lawful and practicable, written notice of said service upon said agent shall be
mailed by registered or certified mail, postage prepaid, return receipt
requested, to Maker at Maker’s address shown below its signature hereto. Maker
agrees that such service, to the fullest extent permitted by law, (i) shall be
deemed in every respect effective service of process upon it in any such suit,
action or proceeding and (ii) shall be taken and held to be valid personal
service upon and personal delivery to Maker. Nothing herein shall affect Payee’s
right to serve process in any other manner permitted by law, or limit Payee’s
right to bring proceedings against Maker in the courts of any other
jurisdiction.

 

14.           Waiver
of Jury Trial. MAKER HEREBY IRREVOCABLY
WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING (I) TO
ENFORCE OR DEFEND ANY RIGHTS UNDER OR IN CONNECTION WITH THIS NOTE OR ANY
AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE
FUTURE BE DELIVERED IN CONNECTION HEREWITH, OR (II) ARISING FROM ANY
DISPUTE OR CONTROVERSY IN CONNECTION

 

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WITH OR RELATED TO THIS NOTE, AND AGREES THAT ANY
SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

 

15.           Recourse.
Maker acknowledges that the obligations of Maker to Payee under or in
connection with this Note are recourse to Maker as to 100% of the accrued
interest hereon and 50% of any principal balance. For the purposes of
clarification and not in limitation of Payees rights hereunder, in the event
that Maker fails to pay all the obligations hereunder when due and, the value
of the collateral under the Collateral Assignment does not fully defease Maker’s
obligations hereunder, Payee shall have recourse to Maker’s assets (in addition
to the assets assigned pursuant to the Collateral Assignment) to the extent of
any deficiency up to 100% of any accrued interest and 50% of the Loan.

 

16.           Assignment.
This Note and all rights and remedies hereunder shall be fully assignable by
Payee and, following such assignment, any such assignee shall be deemed the “Payee”
for all purposes hereunder. Neither this Note nor any obligations or duties
hereunder may be sold, assigned or delegated by the Maker without the prior
written consent of the Payee.

 

17.           Distribution
Instructions. Maker hereby instructs Payee to make payment of all amounts
borrowed hereunder by Maker directly to the Company in payment of the exercise
price upon the “early exercise” of Maker’s options to acquire Class One Common
limited liability company units from the Company.

 

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF, Maker has executed and delivered
this Note as of the day and year first above written.

 

	
   

  	
  MAKER:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Vincent Angotti

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  PAYEE’S ADDRESS:

  	
   

  
	
   

  	
   

  
	
  Reliant Pharmaceuticals, LLC

  	
   

  
	
  110 Allen Road

  	
   

  
	
  Liberty Corner, New Jersey 07938

  	
   

  
	
  Attention: Chief Financial Officer

  	
   

  
	
  Telecopy No.: 908/542-9405

  	
   

  

 

 

 

[SIGNATURE PAGE TO SECURED
PROMISSORY NOTE IN FAVOR OF RELIANT

PHARMACEUTICALS, LLC]

 

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