Document:

Exhibit 10.22

 

CONSULTING AGREEMENT

 

Effective Date: January 1, 2012

 

Name and Address of Consultant:

 

E. Premkumar Reddy, Ph.D. (“Consultant”)

Mount Sinai School of Medicine

Department of Oncological Sciences

One Gustave L. Levy Place

New York, NY  10029

 

Federal Tax ID# or SSN#:

 

Name and Address of Onconova Contact:

Ramesh Kumar, Ph.D., President

Onconova Therapeutics, Inc.

375 Pheasant Run

Newtown, PA 18940

 

Terms and Conditions of Consulting Service

 

Onconova and Consultant agree:

 

1.                                      Scope of Work

 

Consultant will perform consulting and/or advisory services (the “Services”) as it relates to Onconova’s existing proprietary products and/or those already in planning and development prior to Consultant’s employment with Mount Sinai School of Medicine (MSSM) (collectively, the “Field”) for Onconova (“Onconova”) as described in greater detail in Schedule 1.  All services performed under this Agreement shall be in the Field.  Therefore all references herein (and in any attached schedule) to “Services” shall be understood as references to Services in the Field.  The attached schedules are hereby incorporated into and made fully a part of this Agreement.  Consultant is entering into this Agreement in Consultant’s individual capacity and not as an employee or agent of MSSM and confirms that Consultant’s performance of the Services in the Field under and during the Term of this Agreement shall be separate and distinct from Consultant’s job responsibilities as an employee of MSSM.

 

Consultant shall not perform any services for Onconova that would encroach on (i) Consultant’s job responsibilities as an employee of Mount Sinai or (ii) any non-publicly available, confidential, or proprietary information related to processes or clinical trials performed at Mount Sinai.  In performing the Services,

 

 

Consultant shall not function as an investigator on any research project and shall not perform any of the Services on Mount Sinai School of Medicine (“MSSM”) premises (with the exception of de minimis use of Consultant’s MSSM office, office computer, and school library).  Any photograph, videotape, reproduction, likeness or image of Consultant shall not be used by Onconova, its affiliates, subsidiaries or successors for recruiting, publicity, marketing, company/product endorsement or promotional purposes.  Any presentation Consultant provides in Consultant’s performance of the Services shall be of Consultant’s own creation; Consultant shall control the content of such presentation, and such presentation shall become the property of Onconova subject to the terms of Paragraph 7 of this Agreement.

 

2.                                      Compensation

 

Onconova will pay Consultant a consulting fee in the amount and on the terms specified in attached Schedule 1.

 

3.                                      Manner of Performance

 

Consultant will perform no Services on MSSM premises.  Consultant represents that Consultant’s performance of the Services in the Field under and during the Term of this Agreement shall not involve (i) the use of any facilities, space, materials or other resources of MSSM, including resources provided by outside sources, except de minimis use of Consultant’s MSSM office, office computer, and school library, or (ii) the use of financial support from MSSM, including funding from any outside source awarded to or administered by MSSM, or (iii) the use of any intellectual property developed within an area of research that Consultant has conducted or will conduct under a research project sponsored by MSSM or a third party, each of (i), (ii) and (iii) during the Term of this Agreement.  Consultant represents that Consultant has the requisite expertise, ability, and legal right to render the Services and will perform the Services in an efficient manner.  Consultant will abide by all laws, rules, and regulations that apply to the performance of the Services, including applicable requirements regarding equal employment opportunity and related rules.

 

4.                                      Confidentiality

 

Consultant hereby acknowledges that, in Consultant’s performance of the Services in the Field under and during the Term of this Agreement, Consultant may be provided with confidential and proprietary Onconova information (“Confidential Information”) and therefore, Consultant hereby confirms that all such Confidential Information will be kept confidential by Consultant, except to the extent required for performance of the Services in the Field.  “Developments” as defined below, shall also be considered Confidential Information.  Consultant shall not publish regarding the Services in the Field performed under and during

 

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the Term of this Agreement without first providing Onconova with the opportunity to review and offer reasonable objection to the contemplated publication.  The confidentiality obligations and use restrictions of this Agreement regarding Confidential Information shall apply during the Term of this Agreement and for five (5) years after its termination or expiration.  Within fifteen (15) days of the termination or expiration of this Agreement, Consultant will return to Onconova all Confidential Information, including all copies thereof.

 

The confidentiality obligations and use restrictions regarding Confidential Information shall not apply to information that: (a) becomes part of the public domain without the fault of Consultant; (b) is rightfully obtained by Consultant from a third party with the right to transfer such information without imposing an obligation of confidentiality; (c) is independently developed by Consultant without use of Onconova’s Confidential Information, as evidenced by written record; or (d) was lawfully in Consultant’s possession at the time of disclosure to Consultant by Onconova, without restriction on disclosure, as evidenced by written record.  In addition, Consultant may disclose Confidential Information as required by law, court order, or other governmental authority with jurisdiction, provided that Consultant promptly notifies Onconova in writing of such requirement and complies, at Onconova’s written request and expense, with Onconova’s lawful efforts to prevent or limit the scope of such required disclosure.

 

5.                                      Notwithstanding the foregoing or anything else in this Agreement, Onconova acknowledges that Consultant is a full-time employee of Mount Sinai School of Medicine (“MSSM”) and agrees that, in the event the terms and conditions of this Agreement are in conflict with the terms and conditions of Consultant’s employment by MSSM, including the terms of any grants or contracts administered by MSSM for which Consultant performs services, the latter shall prevail.  Consultant represents that, as of the date of his/her execution of this Agreement, to the best of Consultant’s knowledge there are no such conflicts, and if any arise during the Term of this Agreement, Consultant shall promptly inform Onconova and Onconova shall have the right in such event immediately to terminate this Agreement.

 

6.                                      Independent Contractor

 

Consultant is an independent contractor, not an employee or agent of Onconova.  Nothing in this Agreement shall render Consultant, or any of his/her agents or employees, an employee or agent of Onconova, nor authorize or empower Consultant or his/her agents or employees to speak for, represent, or obligate Onconova in any way.  Onconova recognizes that Consultant retains all the rights and privileges of an employer, including but not limited to the right to hire, direct, discipline, compensate, and terminate its employees assigned to the Onconova

 

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account.  Consultant assumes any and all liabilities regarding Section 1706 and Section 414(n) of the Internal Revenue Code of 1986.  Consultant is entering into this Agreement in Consultant’s individual capacity and not as an employee or agent of MSSM and confirms that Consultant’s performance of the Services in the Field under and during the Term of this Agreement shall be separate and distinct from Consultant’s job responsibilities as an employee of MSSM.

 

7.                                      Ownership of Developments

 

All written materials and other works that may be subject to copyright and all patentable and unpatentable inventions, and discoveries (including but not limited to any computer software) that are made, conceived, or written by Consultant in Consultant’s performance of the Services in the Field under and during the Term of this Agreement (“Developments”) shall be Onconova’s property.  Consultant agrees to hold all Developments confidential in accordance with paragraph 4 of this Agreement.

 

Notwithstanding the foregoing, Onconova shall not acquire any rights by reason of this Agreement in any publication, invention, discovery, improvement or other intellectual property, whether or not publishable, patentable or copyrightable, or any other results of research developed as a result of a program of research financed, in whole or in part, by funds under the control of MSSM.  Any intellectual property right regarding works, inventions and/or discoveries made under any agreement between Onconova and MSSM shall be governed by such agreement.

 

8.                                      Disclosure and Transfer of Developments

 

Consultant will disclose promptly to Onconova each Development and, upon Onconova’s request and at Onconova’s expense, Consultant will assist Onconova, or anyone it designates, in filing a patent or copyright application in any country in the world covering such Development.  Each Development that is a copyrightable work, to the extent permitted by law, will be considered a work made for hire and the authorship and copyright in the work shall be in Onconova’s name.  During the Term, Consultant will execute all papers and do all things, which may be necessary or advisable, in the opinion of Onconova, to process such applications and to vest in Onconova, or its designee, all the right, title, and interest in and to Developments.  If for any reason Consultant is unable to effectuate a full assignment of any Development, Consultant will transfer to Onconova, or its designee, its transferable rights, whether they be exclusive or nonexclusive, or as a joint inventor or partial owner of the Development.

 

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9.                                      Disclosures to Onconova

 

If during the term of this Agreement, Consultant discloses any copyrightable works, inventions, or discoveries, to Onconova that were conceived or written prior to this Agreement, or which are not made or conceived in performance of the Services in the Field under and during the Term of this Agreement, Onconova will have no liability to Consultant because of its use of such works, inventions, or discoveries, except liability for infringement of any valid copyright or patent now or hereafter issued thereon.

 

10.                               Term

 

The term of this Agreement shall be from the Effective Date through the termination date specified in Schedule 1 unless earlier terminated in accordance with paragraph 11 (the “Term”).  This agreement may be renewed through written amendment agreed to by the parties, including review and approval by Consultant’s employer MSSM for compliance with MSSM’s policies.

 

11.                               Termination

 

Onconova may terminate this Agreement effective the day of notice by giving Consultant written notice of such termination if: (a) Consultant breaches any of his/her material obligations under paragraphs 4, 8, or 9 of this Agreement; or (b) fails to provide the standard of performance of Services that substantially meets Onconova’s reasonable expectations; or (c) fails at any time, given reasonable notice, to provide the contracted Services defined in the Schedules attached hereto.  If Onconova determines that it no longer requires the services of Consultant, it may terminate this Agreement by giving Consultant thirty (30) days’ written notice.  Likewise, Consultant may terminate this Agreement by giving Onconova thirty (30) days’ written notice.  Consultant will have the right to terminate this Agreement immediately if Onconova fails to provide payment for Services rendered within a period of thirty (30) days following submission of an invoice.

 

12.                               MSSM Name Use

 

Except for accurately describing Consultant’s affiliation with MSSM, neither party shall use MSSM’s name in a manner that would identify MSSM with any product or any commercial or Other activity that would imply endorsement or support thereof by MSSM.

 

13.                               General

 

Neither party may assign this Agreement.  This Agreement supersedes all prior agreements between the parties respecting the Services in the Field.  This

 

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Agreement may not be changed or terminated orally by or on behalf of either party.  In the event either party breaches this Agreement, the other party will have the right to terminate this Agreement.  In the event of actual or threatened breach of any of the terms of paragraphs 4, 8, or 9, Onconova will have the right to seek specific performance and injunctive relief.  The rights granted by this paragraph are in addition to all other remedies and rights available at law or in equity.  This Agreement shall be construed according to the laws of the Commonwealth of Pennsylvania for contracts made within that state.

 

Any notice required or permitted to be given under this Agreement will be sufficient if in writing and if delivered personally, or sent by certified or registered mail as follows (or to such address as will be set forth in a notice given in the same manner):

 

If to Consultant:

 

E. Premkumar Reddy, Ph.D.
 Mount Sinai School of Medicine
 Department of Oncological Sciences
 One Gustave L. Levy Place
 New York, NY 10029

 

If to Onconova:

 

Ramesh Kumar, Ph.D., President
 Onconova Therapeutics, Inc.
 375 Pheasant Run
 Newtown, PA 18940

 

Accepted and Agreed by:

 

Consultant:

 

 

	
/s/ E. Premkumar Reddy
    	
 
    	
July 25, 2012
    
	
E. Premkumar Reddy, Ph.D.
    	
 
    	
Date
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Onconova   Therapeutics, Inc.:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Ramesh Kumar
    	
 
    	
July 27,   2012
    
	
Ramesh   Kumar, Ph.D.
    	
 
    	
Date
    

 

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Schedule 1

 

Description of Services in the Field:

 

Consultant’s consulting and/or advisory services shall include:

 

Guidance and opinion on Temple University’s Intellectual Property that has been licensed for commercialization through Onconova (the “Patents”), including:

 

·                                          Explanation of development of original compounds, as it relates to Patents

·                                          Synthesis of compounds, as it relates to Patents

·                                          Feasibility aspects of Patents

·                                          Commercialization aspects of Patents

 

Compensation

 

Consultancy will be for a maximum of 25 full days (or 200 hours) at the annual rate of $165,000.00.  Payment will be made quarterly.

 

Term

 

This Agreement will be in effect until 12/31/2012, renewable.

 

 

CONSULTANT AGREEMENT RENEWAL

 

February 27, 2013

 

E. Premkumar Reddy, Ph.D.

Professor, Department of Oncological Sciences

and Department of Structural and Chemical Biology

Director, Experimental Cancer Therapeutics

Mount Sinai School of Medicine

1425 Madison Avenue

New York, NY 10029

 

Dear Dr. Reddy:

 

This letter refers to your Consulting Agreement with Onconova Therapeutics Inc.  We wish to renew this agreement thru December 31, 2013.  If in agreement, please sign and return a copy of this letter via email: lisa@onconova.us or via fax: 215-529-6580.

 

Best regards,

 

	
/s/   Ramesh Kumar
    	
 
    
	
 
    	
 
    
	
Ramesh   Kumar, Ph.D.
    	
 
    
	
President   and CEO
    	
 
    

 

I agree to renew my consulting agreement thru December 31, 2013.

 

 

	
/s/   E. Premkumar Reddy
    	
 
    
	
E.   Premkumar Reddy, Ph.D.ex41to8k07319_06122013.htm

Exhibit 4.1

 

GENCORP INC.,

 

THE SUBSIDIARY GUARANTORS

 

AND

 

U.S. BANK NATIONAL ASSOCIATION

 

AS TRUSTEE AND COLLATERAL AGENT

 

 

7.125% SECOND-PRIORITY SENIOR SECURED NOTES DUE 2021

 

____________________________________

 

First Supplemental Indenture

 

Dated as of June 14, 2013

 

To Indenture Dated as of January 28, 2013

 

____________________________________

 

 

  

  

  

 

FIRST SUPPLEMENTAL INDENTURE

 

Supplemental Indenture (this “Supplemental Indenture”), dated as of June 14, 2013, among GenCorp Inc. (the “Issuer”), Pratt & Whitney Rocketdyne, Inc., Arde, Inc. and Arde-Barinco, Inc., each a direct or indirect subsidiary of the Issuer (each a “Guaranteeing Subsidiary” and collectively, the “Guaranteeing Subsidiaries”), and U.S. Bank National Association, as trustee (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an Indenture (the “Indenture”), dated as of January 28, 2013, providing for the issuance of $460,000,000 in aggregate principal amount of 7.125% Second Priority Senior Secured Notes due 2021 (the “Notes”);

 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiaries shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiaries shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the “Guarantee”); and

 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Issuer and the Trustee are authorized to execute and deliver this Supplemental Indenture without the consent of Holders.

 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

(1)           Capitalized Terms.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

(2)           Agreement to Guarantee.  Each Guaranteeing Subsidiary hereby agrees as follows:

 

(a)           Along with all other Subsidiary Guarantors named in the Indenture (including pursuant to any supplemental indentures), to jointly and severally, unconditionally guarantee to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, that:

 

                (i)the principal of and interest and premium, if any, on the Notes shall be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Issuer to the Holders or the Trustee thereunder shall be promptly paid in full or performed, all in accordance with the terms thereof; and

 

                (ii)in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.  Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Subsidiary Guarantors and such Guaranteeing Subsidiary shall be jointly and severally obligated to pay the same immediately.  This is a guarantee of payment and not a guarantee of collection.

 

  

  

  

 

(b)           The obligations of such Guaranteeing Subsidiary hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or the Indenture or the obligations of the Issuer hereunder or thereunder, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Issuer or any other Subsidiary Guarantor, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor.

 

(c)           Such Guaranteeing Subsidiary hereby waives:  diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, protest, notice and all demands whatsoever.

 

(d)           This Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes, the Indenture and this Supplemental Indenture.  Such Guaranteeing Subsidiary accepts all obligations applicable to a Subsidiary Guarantor under the Indenture, including Article XII of the Indenture (which is deemed incorporated in this Supplemental Indenture and applicable to this Guarantee) and, as applicable, Section 5.01 and Section 5.02 of the Indenture.  Such Guaranteeing Subsidiary acknowledges that by executing this Supplemental Indenture, it will become a Subsidiary Guarantor under the Indenture and subject to all the terms and conditions applicable to Subsidiary Guarantors contained therein.

 

(e)           If any Holder or the Trustee is required by any court or otherwise to return to the Issuer, the Subsidiary Guarantors (including such Guaranteeing Subsidiary), or any custodian, trustee, liquidator or other similar official acting in relation to either the Issuer or the Subsidiary Guarantors, any amount paid either to the Trustee or such Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

 

(f)           Such Guaranteeing Subsidiary shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby.

 

(g)           As between such Guaranteeing Subsidiary, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article VI of the Indenture for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article VI of the Indenture, such obligations (whether or not due and payable) shall forthwith become due and payable by such Guaranteeing Subsidiary for the purpose of this Guarantee.

 

(h)           Such Guaranteeing Subsidiary shall have the right to seek contribution from any non-paying Subsidiary Guarantor so long as the exercise of such right does not impair the rights of the Holders under this Guarantee.

 

(i)            Pursuant to Section 12.04 of the Indenture, after giving effect to all other contingent and fixed liabilities that are relevant under any applicable bankruptcy or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under Article XII of the Indenture, this new Guarantee shall be limited to the maximum amount permissible such that the obligations of such Guaranteeing Subsidiary under this Guarantee will not constitute a fraudulent transfer or conveyance.

 

  

  

  

 

(j)           Until released in accordance with Section 12.05 or Section 12.06 of the Indenture and Section 5 hereof, this Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against the Issuer for liquidation, reorganization, should the Issuer become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the Issuer’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes and Guarantee, whether as a “voidable preference,” “fraudulent transfer” or otherwise, all as though such payment or performance had not been made.  In the event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Note shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned.

 

(k)           In case any provision of this Guarantee shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

(l)           This Guarantee shall be a general secured senior obligation of such Guaranteeing Subsidiary, ranking pari passu in right of payment with all existing and future senior Indebtedness of such Guaranteeing Subsidiary, if any.

 

(m)           Each payment to be made by such Guaranteeing Subsidiary in respect of this Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature.

 

(3)           Execution and Delivery.  Each Guaranteeing Subsidiary agrees that the Guarantee shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes.

 

(4)           Merger, Consolidation or Sale of All or Substantially All Assets.

 

(a)           Except as otherwise provided in Section 5.01 of the Indenture, no Guaranteeing Subsidiary may consolidate or merge with or into or wind up into (whether or not such Guaranteeing Subsidiary is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions, to any Person.

 

(b)           Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the assets of the Issuer or a Subsidiary Guarantor in accordance with Section 5.01 of the Indenture, the successor corporation formed by such consolidation or into or with which the Issuer or such Subsidiary Guarantor, as applicable, is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, lease, conveyance or other disposition, the provisions of the Indenture referring to the Issuer or such Subsidiary Guarantor, as applicable, shall refer instead to the successor corporation and not to the Issuer or such Subsidiary Guarantor, as applicable), and may exercise every right and power of the Issuer or such Subsidiary Guarantor, as applicable, under the Indenture with the same effect as if such successor Person had been named as the Issuer or a Subsidiary Guarantor, as applicable, herein; provided that any predecessor Issuer shall not be relieved from the obligation to pay the principal of and interest on the Notes except in the case of a sale, assignment, transfer, conveyance or other disposition of all of the Issuer’s assets that meets the requirements of Section 5.01 of the Indenture.

 

  

  

  

 

(5)           Releases.  The Guarantee of each Guaranteeing Subsidiary shall be automatically and unconditionally released and discharged, and no further action by such Guaranteeing Subsidiary, the Issuer or the Trustee is required for the release of such Guaranteeing Subsidiary’s Guarantee, upon satisfaction of all of the conditions set forth in Section 12.05 or Section 12.06 of the Indenture.

 

(6)           No Recourse Against Others.  No past, present or future director, officer, employee, incorporator or stockholder of the Issuer or any Guaranteeing Subsidiary shall have any liability for any obligations of the Issuer or the Subsidiary Guarantors (including any Guaranteeing Subsidiary) under the Notes, any Subsidiary Guarantees (including the Guarantee), the Security Documents, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder by accepting Notes waives and releases all such liability.  The waiver and release are part of the consideration for issuance of the Notes.

 

(7)           Governing Law.  THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK.

 

(8)           Counterparts.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.  The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

(9)           Effect of Headings.  The Section headings herein have been inserted for convenience of reference only, are not considered a part of this Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

 

(10)           The Trustee.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiaries.

 

(11)           Subrogation.  Each Guaranteeing Subsidiary shall be subrogated to all rights of Holders of Notes against the Issuer in respect of any amounts paid by such Guaranteeing Subsidiary pursuant to the provisions of Section 2 hereof and Section 12.01 of the Indenture; provided that, if an Event of Default has occurred and is continuing, such Guaranteeing Subsidiary shall not be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all amounts then due and payable by the Issuer under the Indenture or the Notes shall have been paid in full.

 

(12)           Benefits Acknowledged.  Each Guaranteeing Subsidiary’s Guarantee is subject to the terms and conditions set forth in the Indenture.  Each Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that the guarantee and waivers made by it pursuant to this Guarantee are knowingly made in contemplation of such benefits.

 

 

  

  

  

(13)           Successors.  All agreements of the Guaranteeing Subsidiaries in this Supplemental Indenture shall bind their respective successors, except as otherwise provided in Sections 5.01, 5.02, 12.05 and 12.06 of the Indenture or elsewhere in this Supplemental Indenture.  All agreements of the Trustee in this Supplemental Indenture shall bind its successors.

 

(14)           Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.  This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby.

 

 

[Signature Page Follows]

 

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.

 

	  	
PRATT & WHITNEY ROCKETDYNE, INC.,

as Subsidiary Guarantor

	  	  
	  	  
	  	
By:

	

/s/ Kathleen E. Redd

	  	  	
Name:

	
Kathleen E. Redd

	  	  	
Title:

	
Vice President and Treasurer

	  	
ARDE, INC.,

as Subsidiary Guarantor

	  	  
	  	  
	  	
By:

	

/s/ Kathleen E. Redd

	  	  	
Name:

	
Kathleen E. Redd

	  	  	
Title:

	
Vice President and Treasurer

	  	
ARDE-BARINCO, INC.,

as Subsidiary Guarantor

	  	  
	  	  
	  	
By:

	

/s/ Kathleen E. Redd

	  	  	
Name:

	
Kathleen E. Redd

	  	  	
Title:

	
Vice President and Treasurer

	  	
U.S. BANK NATIONAL ASSOCIATION,

as Trustee

	  	  
	  	  
	  	
By:

	/s/ Andrew Fung
	  	  	
Name:

	Andrew Fung
	  	  	
Title:

	Vice President 

	  	
GENCORP INC.,

as Issuer

	  	  
	  	  
	  	
By:

	

/s/ Kathleen E. Redd

	  	  	
Name:

	
Kathleen E. Redd

	  	  	
Title:

	
Vice President, Chief Financial Officer and Assistant Secretary

 

[Signature Page to First Supplemental Indenture]

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