Document:

Securities Purchase Agreement, dated as of August 5, 2010, between the Company

 Exhibit 10.2 

SECURITIES PURCHASE AGREEMENT 

This Securities Purchase Agreement (this “Agreement”) is dated as of August 5, 2010, between Catalyst
Pharmaceutical Partners, Inc., a Delaware corporation (the “Company”), and the party which executes the signature page attached hereto as purchaser (the “Purchaser”). 

WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an effective registration statement under
the Securities Act of 1933, as amended (the “Securities Act”), the Company desires to issue and sell the Purchaser, and the Purchaser desires to purchase from the Company, securities of the Company as more fully described in this
Agreement. 
 NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good
and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows: 

ARTICLE I. 

DEFINITIONS 

1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following
terms have the meanings set forth in this Section 1.1: 
 “Acquiring Person” shall have the
meaning ascribed to such in Section 4.4. 
 “Action” shall have the meaning ascribed to
such term in Section 3.1(j). 
 “Affiliate” means any Person that, directly or indirectly
through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in and construed under Rule 405 under the Securities Act. 

“Board of Directors” means the board of directors of the Company. 

“Business Day” means any day except Saturday, Sunday, any day which is a federal legal holiday in the
United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. 

“Closing” means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 “Closing Date” means the Trading Day when all of the Transaction Documents have been executed
and delivered by the applicable parties thereto, and all conditions precedent to (i) the Purchaser’s obligations to pay the Subscription Amount and (ii) the Company’s obligations to deliver the Shares have been satisfied or
waived, and in any event, on or before the second Trading Day following the date hereof. 

“Commission” means the United States Securities and Exchange Commission. 

 

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 “Common Stock” means the common stock of the Company, par
value $0.001 per share, and any other class of securities into which such securities may hereafter be reclassified or changed into. 

“Common Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle
the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise
entitles the holder thereof to receive, Common Stock. 
 “Company Counsel”
means Akerman Senterfitt, with offices located at 1 SE 3rd
Avenue, Suite 2500, Miami, Florida 33131. 
 “Disclosure Schedules” means the Disclosure
Schedules of the Company delivered concurrently herewith. 
 “Discussion Time” shall have the
meaning ascribed to such term in Section 3.2(e). 
 “Evaluation Date” shall have the
meaning ascribed to such term in Section 3.1(r). 
 “Exchange Act” means the Securities
Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
 “Exempt
Issuance” means the issuance of (a) shares of Common Stock or options to employees, officers or directors of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of
the Board of Directors or a majority of the members of a committee of non-employee directors established for such purpose and (b) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested
directors of the Company, provided that any such issuance shall only be to a Person which is, itself or through its subsidiaries, an operating company in a business synergistic with the business of the Company and in which the Company receives
benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.

 “GAAP” shall have the meaning ascribed to such term in Section 3.1(h). 

“Indebtedness” shall have the meaning ascribed to such term in Section 3.1(z). 

“Intellectual Property Rights” shall have the meaning ascribed to such term in Section 3.1(o).

 “Liens” means a lien, charge, security interest, encumbrance, right of first refusal,
preemptive right or other restriction. 
 “Material Adverse Effect” shall have the meaning
assigned to such term in Section 3.1(b). 
  

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 “Material Permits” shall have the meaning ascribed to such
term in Section 3.1(m). 
 “Per Share Purchase Price” equals $1.11, subject to
adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement. 

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated
association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 

“Pharmaceutical Product” shall have the meaning ascribed to such term in Section 3.1(gg).

 “Proceeding” means an action, claim, suit, investigation or proceeding (including, without
limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced or threatened. 

“Prospectus” means the final prospectus filed for the Registration Statement. 

“Prospectus Supplement” means the supplement to the Prospectus complying with Rule 424(b) of the
Securities Act that is filed with the Commission and delivered by the Company to the Purchaser at the Closing. 

“Purchaser Party” shall have the meaning ascribed to such term in Section 4.8. 

“Registration Statement” means the effective registration statement with Commission (file
No. 333-151368) which registers the sale of the Shares to the Purchaser. 
 “Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e). 
 “Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as
such Rule. 
 “SEC Reports” shall have the meaning ascribed to such term in Section 3.1(h).

 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder. 
 “Shares” means the shares of Common Stock issued or issuable to the
Purchaser pursuant to this Agreement. 
  

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 “Short Sales” means all “short sales” as defined
in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to include the location and/or reservation of borrowable shares of Common Stock). 

“Subscription Amount” means the aggregate amount to be paid for Shares purchased hereunder as specified
below the Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription Amount,” in United States dollars and in immediately available funds. 

“Trading Day” means a day on which the New York Stock Exchange is open for trading. 

“Trading Market” means the following markets or exchanges on which the Common Stock is listed or quoted
for trading on the date in question: the American Stock Exchange, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange or the OTC Bulletin Board. 

“Transaction Documents” means this Agreement and any other documents or agreements executed in connection
with the transactions contemplated hereunder. 
 “Transfer Agent” means
Continental Stock Transfer & Trust Company, the current transfer agent of the Company, with a mailing address of 17 Battery Park,
8th Floor, New York, New York 10004 and a facsimile number
of (212) 509-5150, and any successor transfer agent of the Company. 
 ARTICLE II. 

PURCHASE AND SALE 

2.1 Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the
execution and delivery of this Agreement by the parties hereto, the Company agrees to sell, and the Purchasers agrees to purchase, 69,920 Shares. The Purchaser shall deliver to the Company, via wire transfer for the benefit of the Company,
immediately available funds equal to its Subscription Amount and the Company shall deliver to the Purchaser concurrently with the delivery of the Subscription Amount, the Shares (which Shares shall be delivered via DWAC, as defined below), and the
Company and the Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of Company
Counsel or such other location as the parties shall mutually agree. 
 2.2 Deliveries. 

(a) On or prior to the Closing Date, the Company shall deliver or cause to be delivered to the Purchaser the following:

 (i) this Agreement duly executed by the Company; 

 

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 (ii) a legal opinion of Company Counsel, substantially in the form of
Exhibit A attached hereto; 
 (iii) the Shares, by delivery of irrevocable instructions to the
Company’s transfer agent instructing the transfer agent to deliver via the Depository Trust Company Deposit Withdrawal Agent Commission System (“DWAC”) Shares equal to the Purchaser’s Subscription Amount divided by the Per
Share Purchase Price, registered in the name of the Purchaser; and 
 (iv) the Prospectus and Prospectus
Supplement (which may be delivered in accordance with Rule 172 under the Securities Act). 
 (b) On or prior to
the Closing Date, the Purchaser shall deliver or cause to be delivered to the Company the following: 
 (i) this
Agreement duly executed by the Purchaser; and 
 (ii) the Purchaser’s Subscription Amount by wire transfer
to the account as specified in writing by the Company. 
 2.3 Closing Conditions. 

(a) The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being
met: 
 (i) the accuracy in all material respects on the Closing Date of the representations and warranties of
the Purchaser contained herein (unless as of a specific date therein); 
 (ii) all obligations, covenants and
agreements of the Purchaser required to be performed at or prior to the Closing Date shall have been performed; and 

(iii) the delivery by the Purchaser of the items set forth in Section 2.2(b) of this Agreement. 

(b) The respective obligations of the Purchaser hereunder in connection with the Closing are subject to the following
conditions being met: 
 (i) the accuracy in all material respects on the Closing Date of the representations and
warranties of the Company contained herein (unless as of a specific date therein); 
 (ii) all obligations,
covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed; 

(iii) the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement; 

 

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 (iv) there shall have been no Material Adverse Effect with respect to the
Company since the date hereof; and 
 (v) from the date hereof to the Closing Date, trading in the Common Stock
shall not have been suspended by the Commission or the Company’s principal Trading Market (except for any suspension of trading of limited duration agreed to by the Company, which suspension shall be terminated prior to the Closing), and, at
any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported by such service, or
on any Trading Market, nor shall a banking moratorium have been declared either by the United States or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national or international
calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable judgment of the Purchaser, makes it impracticable or inadvisable to purchase the Shares at the Closing.

 ARTICLE III. 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties of the Company. Except as set forth in the Disclosure Schedules, which Disclosure Schedules
shall be deemed a part hereof and shall qualify any representation or otherwise made herein to the extent of the disclosure contained in the corresponding section of the Disclosure Schedules, the Company hereby makes the following representations
and warranties to the Purchaser: 
 (a) Subsidiaries. The Company has no subsidiaries (as defined in the
Securities Act). Except as described in the SEC Reports, the Company does not own, directly or indirectly, any long-term debt or equity interest in any firm, corporation, partnership, joint venture, association or other entity. 

(b) Organization and Qualification. The Company is an entity duly incorporated or otherwise organized, validly
existing and in good standing under the laws of the jurisdiction of its incorporation, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. The Company is not in
violation or default of any of the provisions of its certificate of incorporation, bylaws or other organizational or charter documents. The Company is duly qualified to conduct business and is in good standing as a foreign corporation or other
entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably
be expected to result in (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition
(financial or otherwise) of the Company, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction Document (any of

  

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(i), (ii) or (iii), a “Material Adverse Effect”) and no “Proceeding” (which for purposes of this Agreement shall mean any action, claim, suit, investigation or proceeding
(including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened) has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such
power and authority or qualification 
 (c) Authorization; Enforcement. The Company has the requisite
corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of each of the
Transaction Documents by the Company and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, its board of
directors or its stockholders in connection therewith other than in connection with the “Required Approvals” (as defined in subsection 3(D) below). Each Transaction Document has been (or upon delivery will have been) duly executed by the
Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms except (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally and (ii) as limited by laws relating to the availability of specific performance, injunctive
relief or other equitable remedies 
 (d) No Conflicts. The execution, delivery and performance of the
Transaction Documents by the Company, the issuance and sale of the Shares and the consummation by the Company of the other transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the
Company’s certificate of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the
creation of any Lien upon any of the properties or assets of the Company, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt
or other instrument (evidencing a Company debt or otherwise) or other understanding to which the Company is a party or by which any property or asset of the Company is bound or affected, or (iii) subject to the Required Approvals, conflict with
or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject (including federal and state securities laws and regulations), or
by which any property or asset of the Company is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect. 

(e) Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or
order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the

  

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Company of the Transaction Documents, other than such filings as are required to be made under applicable Federal and state securities laws (collectively, the “Required Approvals”).

 (f) Issuance of the Shares; Registration. The Shares are duly authorized and, when issued and paid for
in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The Company has prepared and filed the Registration Statement in conformity
with the requirements of the Securities Act, which became effective on June 26, 2008 (the “Effective Date”), including the Prospectus, and such amendments and supplements thereto as may have been required to the date of this
Agreement. The Registration Statement is effective under the Securities Act and no stop order preventing or suspending the effectiveness of the Registration Statement or suspending or preventing the use of the Prospectus has been issued by the
Commission and no proceedings for that purpose have been instituted or, to the knowledge of the Company, are threatened by the Commission. The Company, if required by the rules and regulations of the Commission, proposes to file the Prospectus, with
the Commission pursuant to Rule 424(b). At the time the Registration Statement and any amendments thereto became effective, at the date of this Agreement and at the Closing Date, the Registration Statement and any amendments thereto conformed and
will conform in all material respects to the requirements of the Securities Act and did not and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein not misleading; and the Prospectus and any amendments or supplements thereto, at time the Prospectus or any amendment or supplement thereto was issued and at the Closing Date, conformed and will conform in all material respects to
the requirements of the Securities Act and did not and will not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading. 
 (g) Capitalization. The capitalization of the Company is as set forth on
Schedule 3.1(g). The Company has not issued any capital stock since its most recently filed periodic report under the Exchange Act, other than pursuant to the exercise of employee stock options under the Company’s stock option plans and
pursuant to the conversion or exercise of securities exercisable, exchangeable or convertible into Common Stock (“Common Stock Equivalents”). No Person has any right of first refusal, preemptive right, right of participation, or any
similar right to participate in the transactions contemplated by the Transaction Documents. Except as a result of the purchase and sale of the Shares, there are no outstanding options, warrants, script rights to subscribe to, calls or commitments of
any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock, or contracts, commitments,
understandings or arrangements by which the Company is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents. The issuance and sale of the Shares will not obligate the Company to issue shares of Common Stock or
other securities to any Person (other than the Purchasers) and will not result in a right of any holder of Company securities to adjust the exercise, 

 

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conversion, exchange or reset price under such securities. All of the outstanding shares of capital stock of the Company are validly issued, fully paid and nonassessable, have been issued in
compliance with all federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. No further approval or authorization of any
stockholder, the Board of Directors of the Company or others is required for the issuance and sale of the Shares. There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company’s capital stock to
which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s stockholders. 

(h) SEC Reports; Financial Statements. The Company has complied in all material respects with requirements to file
all reports, schedules, forms, statements and other documents required to be filed by it under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such
shorter period as the Company was required by law to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”).
As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, and none of the SEC Reports,
when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading. The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of
filing. Such financial statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in such
financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company as of and for the dates
thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. 

(i) Material Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited
financial statements included within the SEC Reports, except as specifically disclosed in the SEC Reports, (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse
Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not
required to be reflected in the Company’s financial statements pursuant to GAAP or required to be disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not
declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made 
  

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any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to
existing Company stock option plans. The Company does not have pending before the Commission any request for confidential treatment of information. Except for the issuance of the Shares contemplated by this Agreement or as set forth on Schedule
3.1(i), no event, liability or development has occurred or exists with respect to the Company or its business, properties, operations or financial condition, that would be required to be disclosed by the Company under applicable securities laws
at the time this representation is made that has not been publicly disclosed no later than one (1) Trading Day prior to the date that this representation is made 

(j) Litigation. There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to
the knowledge of the Company, threatened against or affecting the Company or any of its properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign)
(collectively, an “Action”) which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Shares or (ii) could, if there were an unfavorable decision, have or
reasonably be expected to result in a Material Adverse Effect. The Company is not and has not been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary
duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company. The Commission has not issued
any stop order or other order suspending the effectiveness of any registration statement filed by the Company under the Exchange Act or the Securities Act. 

(k) Labor Relations. No material labor dispute exists or, to the knowledge of the Company, is imminent with respect
to any of the employees of the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s employees is a member of a union that relates to such employee’s relationship with the Company, and
the Company is not a party to a collective bargaining agreement, and the Company believes that their relationships with their employees are good. No executive officer, to the knowledge of the Company, is, or is now expected to be, in violation of
any material term of any employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third party, and the
continued employment of each such executive officer does not subject the Company to any liability with respect to any of the foregoing matters. The Company is in compliance with all U.S. federal, state, local and foreign laws and regulations
relating to employment and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. 
 (l) Compliance. The Company is not (i) in default under or in violation of (and no event
has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company under), nor has the Company received 

 

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notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or
any of its properties is bound (whether or not such default or violation has been waived), (ii) in violation of any order of any court, arbitrator or governmental body, or (iii) and has not been in violation of any statute, rule or
regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor
matters, except in each case as could not have a Material Adverse Effect. 
 (m) Regulatory Permits. The
Company possesses all certificates, authorizations and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC Reports, except where the
failure to possess such permits could not have or reasonably be expected to result in a Material Adverse Effect (“Material Permits”), and the Company has not received any written notice of proceedings relating to the revocation or
modification of any Material Permit. 
 (n) Title to Assets. The Company has good and marketable title in
fee simple to all real property owned by it that is material to the business of the Company and good and marketable title in all personal property owned by them that is material to the business of the Company, in each case free and clear of all
Liens, except for Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and Liens for the payment of federal, state or other taxes, the
payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the Company are held by it under valid, subsisting and enforceable leases of which the Company is in compliance, except where
non-compliance would not have a Material Adverse Effect. 
 (o) Patents and Trademarks. Except to the
extent set forth in the SEC Reports, the Company has, or has rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other similar
intellectual property rights necessary or material for use in connection with their respective businesses as described in the SEC Reports and which the failure to so have could have a Material Adverse Effect (collectively, the “Intellectual
Property Rights”). The Company has not received a notice (written or otherwise) that any of, the Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two
(2) years from the date of this Agreement. The Company has not received, since the date of the latest audited financial statements included within the SEC Reports, a written notice of a claim or otherwise has any knowledge that the Intellectual
Property Rights violate or infringe upon the rights of any Person, except as would not have a Material Adverse Effect. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by
another Person of any of the Intellectual Property Rights of others. The Company has taken reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  

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 (p) Insurance. The Company is insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company is engaged, including, but not limited to, directors and officers insurance coverage at least equal to the
aggregate Subscription Amount under the Transaction Documents. To the best knowledge of the Company, such insurance contracts and policies are accurate and complete. The Company has no reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost. 

(q) Transactions With Affiliates and Employees. Except as set forth in the SEC Reports, none of the officers or
directors of the Company and, to the knowledge of the Company, none of the employees of the Company is presently a party to any transaction with the Company (other than for services as employees, officers and directors), including any contract,
agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of
the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner, other than (i) for payment of salary or consulting fees for services rendered,
(ii) reimbursement for expenses incurred on behalf of the Company and (iii) for other employee benefits, including stock option agreements under any stock option plan of the Company. 

(r) Sarbanes-Oxley; Internal Accounting Controls. The Company is in compliance with any and all applicable
requirements of the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the date hereof and as of the Closing Date.
The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are
recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization,
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company has established disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and designed such disclosure controls and procedures to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act
is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. The Company’s certifying officers have evaluated the effectiveness of the Company’s disclosure controls and
procedures as of the end of the period covered by the Company’s most recently filed periodic report under the Exchange Act (such date, the “Evaluation Date”). The Company presented in its most recently filed periodic report under the
Exchange Act the 
  

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conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date, there
have been no changes in the Company’s internal control over financial reporting (as such term is defined in the Exchange Act) that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over
financial reporting. 
 (s) Certain Fees. No brokerage or finder’s fees or commissions are or will be
payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. The Purchaser shall have no
obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection with the transactions contemplated by the Transaction Documents.

 (t) Investment Company. The Company is not, and is not an Affiliate of, and immediately after receipt
of payment for the Shares, will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. The Company shall conduct its business in a manner so that it will not become
subject to the Investment Company Act of 1940, as amended. 
 (u) Registration Rights. No Person has any
right to cause the Company to effect the registration under the Securities Act of any securities of the Company. 

(v) Listing and Maintenance Requirements. The Company’s Common Stock is registered pursuant to
Section 12(b) or 12(g) of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company
received any notification that the Commission is contemplating terminating such registration. Except as set forth in Schedule 3.1(v), the Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market on
which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such Trading Market. The Company is, and has no reason to believe that it will not in the
foreseeable future continue to be, in compliance with all such listing and maintenance requirements. 
 (w)
Application of Takeover Protections. The Company and the Board of Directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution
under a rights agreement) or other similar anti-takeover provision under the Company’s certificate of incorporation (or similar charter documents) or the laws of its state of incorporation that is or could become applicable to the Purchasers as
a result of the Purchasers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including without limitation as a result of the Company’s issuance of the Shares and the Purchasers’
ownership of the Shares. 
  

 13 

 (x) Disclosure. Except with respect to the material terms and
conditions of the transactions contemplated by the Transaction Documents, the Company confirms that neither it nor any other Person acting on its behalf has provided the Purchaser or its agents or counsel with any information that it believes
constitutes or might constitute material, non-public information which is not otherwise disclosed in the Prospectus Supplement. The Company understands and confirms that the Purchaser will rely on the foregoing representation in effecting
transactions in securities of the Company. All disclosure furnished by or on behalf of the Company to the Purchaser regarding the Company, its business and the transactions contemplated hereby, including the Disclosure Schedules to this Agreement,
is true and correct and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading. The
press releases disseminated by the Company during the twelve months preceding the date of this Agreement taken as a whole do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements therein, in light of the circumstances under which they were made and when made, not misleading. The Company acknowledges and agrees that Purchaser is not making and has not made any representations or
warranties with respect to the transactions contemplated hereby other than those specifically set forth in Section 3.2 hereof. 

(y) No Integrated Offering. Assuming the accuracy of the Purchaser’s representations and warranties set forth
in Section 3.2, neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances
that would cause this offering of the Shares to be integrated with prior offerings by the Company for purposes of any applicable shareholder approval provisions of any Trading Market on which any of the securities of the Company are listed or
designated. 
 (z) Solvency. Based on the financial condition of the Company as of the Closing Date after
giving effect to the receipt by the Company of the proceeds from the sale of the Shares hereunder, (i) the Company’s fair saleable value of its assets exceeds the amount that will be required to be paid on or in respect of the
Company’s existing debts and other liabilities (including known contingent liabilities) as they mature; (ii) the Company’s assets do not constitute unreasonably small capital to carry on its business for the current fiscal year as now
conducted and as proposed to be conducted including its capital needs taking into account the particular capital requirements of the business conducted by the Company, and projected capital requirements and capital availability thereof; and
(iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or
in respect of its debt when such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of
its debt). The Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any

  

 14 

 
jurisdiction within one year from the Closing Date. The SEC Reports set forth as of the dates thereof all outstanding secured and unsecured Indebtedness of the Company, or for which the Company
has commitments. For the purposes of this Agreement, “Indebtedness” shall mean (a) any liabilities for borrowed money or amounts owed in excess of $50,000 (other than trade accounts payable incurred in the ordinary course of
business), (b) all guaranties, endorsements and other contingent obligations in respect of Indebtedness of others, whether or not the same are or should be reflected in the Company’s balance sheet (or the notes thereto), except guaranties
by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (c) the present value of any lease payments in excess of $50,000 due under leases required to be capitalized in
accordance with GAAP. The Company is not in default with respect to any Indebtedness. 
 (aa) Tax Status.
Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the Company (i) has made or filed all United States federal and state income and all foreign income and
franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such
returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no
unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim. 

(bb) Foreign Corrupt Practices. Neither the Company, nor to the knowledge of the Company, any agent or other person
acting on behalf of the Company, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment
to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company (or made by any person acting on its
behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977, as amended. 

(cc) Accountants. The Company’s accounting firm is set forth on Schedule 3.1(cc) of the Disclosure
Schedules. To the knowledge and belief of the Company, such accounting firm (i) is a registered public accounting firm as required by the Exchange Act and (ii) shall express its opinion with respect to the financial statements to be
included in the Company’s Annual Report for the year ending December 31, 2010. 
 (dd)
Acknowledgment Regarding Purchaser’s Purchase of Shares. The Company acknowledges and agrees that the Purchaser is acting solely in the capacity of an arm’s length purchaser with respect to the Company and with regard to the
Transaction Documents and the transactions contemplated thereby. The Company further acknowledges that the Purchaser is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction
Documents and 
  

 15 

 
the transactions contemplated thereby and any advice given by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the transactions
contemplated thereby is merely incidental to the Purchasers’ purchase of the Shares. The Company further represents to the Purchaser that the Company’s decision to enter into this Agreement and the other Transaction Documents has been
based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives. 

(ee) Acknowledgement Regarding Purchaser’s Trading Activity. Anything in this Agreement or elsewhere herein to
the contrary notwithstanding (except for Sections 3.2(e) and 4.12 hereof), it is understood and acknowledged by the Company that: (i) the Purchaser has not been asked by the Company to agree, nor has the Purchaser agreed, to desist from
purchasing or selling, long and/or short, securities of the Company, or “derivative” securities based on securities issued by the Company or to hold the Shares for any specified term; (ii) that past or future open market or other
transactions by the Purchaser, specifically including, without limitation, Short Sales or “derivative” transactions, before or after the closing of this or future private placement transactions, may negatively impact the market price of
the Company’s publicly-traded securities; (iii) that the Purchaser, and counter-parties in “derivative” transactions to which the Purchaser is a party, directly or indirectly, presently may have a “short” position in
the Common Stock, and (iv) that the Purchaser shall not be deemed to have any affiliation with or control over any arm’s length counter-party in any “derivative” transaction. The Company further understands and acknowledges that
(y) Purchaser may engage in hedging activities at various times during the period that the Shares are outstanding, and (z) such hedging activities (if any) could reduce the value of the existing stockholders’ equity interests in the
Company at and after the time that the hedging activities are being conducted. The Company acknowledges that such aforementioned hedging activities do not constitute a breach of any of the Transaction Documents. 

(ff) Regulation M Compliance. The Company has not, and to its knowledge no one acting on its behalf has,
(i) taken, directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Shares, (ii) sold, bid for,
purchased, or, paid any compensation for soliciting purchases of, any of the Shares, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company. 

(gg) FDA. The clinical, pre-clinical and other studies and tests conducted by or on behalf of or sponsored by the
Company or in which the Company or its products or product candidates have participated that are described in the SEC Reports or the results of which are referred to in the SEC Reports were, and if still pending, are being conducted in all material
respects in accordance with standard medical and scientific research procedures. The descriptions in the SEC Reports of the results of such studies and tests are accurate and complete in all material respects and fairly present the data derived from
such studies and tests, and the Company has no knowledge of any other studies or tests, the results of which, when considered in light of the disclosures in the SEC Reports, are inconsistent with or otherwise call into question the results described
or 
  

 16 

 
referred to in the SEC Reports. Except to the extent described in the SEC Reports, the Company has operated and is currently in compliance, in all material respects, with the applicable rules,
regulations and policies of the United States Food and Drug Administration and comparable drug regulatory agencies outside the United States (collectively, the “Regulatory Authorities”). Except to the extent described in the SEC
Reports, the Company has not received any notices or other correspondence from the Regulatory Authorities or any other governmental agency requiring the termination, suspension or material modification of any clinical or pre-clinical studies or
tests that are described in the SEC Reports or the results of which are referred to in the SEC Reports. 
 (hh)
Office of Foreign Assets Control. Neither the Company nor, to the Company’s knowledge, any director, officer, agent, employee or affiliate of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign
Assets Control of the U.S. Treasury Department (“OFAC”). 
 (ii) U.S. Real Property Holding
Corporation. The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

 (jj) Bank Holding Company Act. Neither the Company nor any of its Affiliates is subject to the Bank
Holding Company Act of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). Neither the Company nor any of its Affiliates owns or controls,
directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the
Federal Reserve. Neither the Company nor any of its Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. 

(kk) Money Laundering. The operations of the Company are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the
“Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company with respect to the Money Laundering Laws is pending or, to the
knowledge of the Company, threatened. 
 3.2 Representations and Warranties of the Purchaser. The Purchaser hereby
represents and warrants as of the date hereof and as of the Closing Date (unless as of a specific date therein) to the Company as follows: 

(a) Organization; Authority. Purchaser is an entity duly organized, validly existing and in good standing under the
laws of the jurisdiction of its organization with full right, corporate or partnership power and authority to enter into and to consummate 

 

 17 

 
the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and performance by the Purchaser
of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate or similar action on the part of the Purchaser. Each Transaction Document to which it is a party has been duly executed by the Purchaser, and
when delivered by the Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general equitable
principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law. 

(b) Understandings or Arrangements. The Purchaser is acquiring the Shares as principal for its own account has no
direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such Shares (this representation and warranty not limiting the Purchaser’s right to sell the Shares pursuant to the
Registration Statement or otherwise in compliance with applicable federal and state securities laws) in violation of the Securities Act or any applicable state securities law. The Purchaser is acquiring the Shares hereunder in the ordinary course of
its business. 
 (c) Purchaser Status. At the time the Purchaser was offered the Shares, it was, and as of
the date hereof it is: (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under the
Securities Act. The Purchaser is not required to be registered as a broker-dealer under Section 15 of the Exchange Act. 

(d) Experience of the Purchaser. The Purchaser, either alone or together with its representatives, has such
knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated the merits and risks of such investment. The
Purchaser is able to bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment. 

(e) Short Sales and Confidentiality Prior To The Date Hereof. Other than consummating the transactions contemplated
hereunder, the Purchaser has not, nor has any Person acting on behalf of or pursuant to any understanding with the Purchaser, directly or indirectly executed any purchases or sales, including Short Sales, of the securities of the Company during
the period commencing from the time that the Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company setting forth the material terms of the transactions contemplated hereunder until the
date hereof (“Discussion Time”). Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of the Purchaser’s assets and
the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of the Purchaser’s assets, the representation 

 

 18 

 
set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares covered by this Agreement. Other
than to other Persons party to this Agreement, the Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). Notwithstanding the foregoing,
for avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to the identification of the availability of, or securing of, available shares to borrow in order to effect short
sales or similar transactions in the future. 
 (f) Acknowledgment Regarding Purchase of Shares. The
Purchaser acknowledges and agrees it is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated thereby. The Purchaser also acknowledges that it is not acting as a
financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by the Purchaser or any of their respective representatives or agents
in connection with the Transaction Documents and the transactions contemplated thereby is merely incidental to the Purchaser’s purchase of the Shares. 

ARTICLE IV. 

OTHER AGREEMENTS OF THE PARTIES 

4.1 Furnishing of Information. Until one year from the Closing Date, the Company covenants to timely file (or obtain extensions in
respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act even if the Company is not then subject to the reporting requirements of the Exchange
Act. In the event the Company does not make the Exchange Act filings as provided in the immediately preceding sentence, the Company hereby agrees, until one year from the Closing Date, that it will prepare and furnish to the Purchaser and make
publicly available in accordance with Rule 144(c) such information as is required for the Purchaser to sell the Shares under Rule 144. The Company further covenants that it will take such further action as any holder of Shares may reasonably
request, to the extent required from time to time to enable such Person to sell such Shares without registration under the Securities Act within the requirements of the exemption provided by Rule 144. 

4.2 Integration. The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any
security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Shares for purposes of the rules and regulations of any Trading Market such that it would require shareholder approval prior to the
closing of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction. 

4.3 Securities Laws Disclosure; Publicity. The Company shall, by 8:30 a.m. (New York City time) on the Trading Day immediately
following the date hereof, issue a press release, disclosing the materials terms of the transactions contemplated hereby, and, file a Current Report on Form 8-K with the Commission, disclosing the material terms of the transactions

  

 19 

 
contemplated hereby, and including the Transaction Documents as exhibits thereto. From and after the issuance of such press release, the Company shall have publicly disclosed all material,
non-public information delivered to the Purchaser by the Company or any of its respective officers, directors, employees or agents in connection with the transactions contemplated by the Transaction Documents. The Company and the Purchaser shall
consult with each other in issuing any other press releases with respect to the transactions contemplated hereby, and neither the Company nor the Purchaser shall issue any such press release nor otherwise make any such public statement without the
prior consent of the Company, with respect to any press release of any Purchaser, or without the prior consent of the Purchaser, with respect to any press release of the Company, which consent shall not unreasonably be withheld or delayed, except if
such disclosure is required by law, in which case the disclosing party shall promptly provide the other party with prior notice of such public statement or communication. Notwithstanding the foregoing, the Company shall not publicly disclose the
name of the Purchaser, or include the name of any Purchaser in any filing with the Commission or any regulatory agency or Trading Market, without the prior written consent of the Purchaser, except (a) as required by federal securities law in
connection with the filing of final Transaction Documents (including signature pages thereto) with the Commission and (b) to the extent such disclosure is required by law or Trading Market regulations, in which case the Company shall provide
the Purchaser with prior notice of such disclosure permitted under this clause (b). Moreover, the Company agrees that it will not use in advertising or publicity the names of the Purchasers, Fidelity Management & Research Company, any of
its partners or employees, any of the funds or accounts managed by it or any of its affiliates, or any trade name, trademark, trade device, service mark, symbol or any abbreviation, contraction or simulation thereof, in any case without the prior
written consent of Fidelity Management & Research Company. 
 4.4 Shareholder Rights Plan. No claim will be made
or enforced by the Company or, with the consent of the Company, any other Person, that the Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including any distribution under a rights
agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company, or that the Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Shares under the
Transaction Documents or under any other agreement between the Company and the Purchaser. 
 4.5 Non-Public Information.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company covenants and agrees that neither it, nor any other Person acting on its behalf will provide the Purchaser or its
agents or counsel with any information that the Company believes constitutes material non-public information, unless prior thereto the Purchaser shall have executed a written agreement regarding the confidentiality and use of such information. The
Company understands and confirms that the Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company. 

4.6 Use of Proceeds. Except as set forth in the Prospectus Supplement, the Company shall use the net proceeds from the sale of the
Shares hereunder for working capital purposes and shall not use such proceeds for: (a) the satisfaction of any portion of the Company’s Indebtedness (other than payment of trade payables in the ordinary course of the Company’s
business and prior practices), (b) the redemption of any Common Stock or Common Stock Equivalents (c) the settlement of any outstanding litigation or (d) in violation of the FCPA or OFAC regulations. 

 

 20 

 4.7 Indemnification of Purchaser. The Company agrees to indemnify, defend and hold
harmless the Purchaser, its partners, directors and officers, and any person who controls the Purchaser within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, and the successors and assigns of all of the foregoing
persons, from and against any loss, damage, expense, liability or claim (including the reasonable cost of investigation) which, jointly or severally, the Purchaser or any such person may incur under the Act, the Exchange Act, the common law or
otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or arises out of or is based
upon any omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as any such loss, damage, expense, liability or claim arises out of or is based
upon any untrue statement or alleged untrue statement of a material fact contained in, and in conformity with information concerning the Purchaser furnished in writing by or on behalf of the Purchaser to the Company expressly for use in, the
Registration Statement or arises out of or is based upon any omission or alleged omission to state a material fact in the Registration Statement in connection with such information, which material fact was not contained in such information and which
material fact was required to be stated in such Registration Statement or was necessary to make such information not misleading, (ii) any untrue statement or alleged untrue statement of a material fact included in any Prospectus (the term
Prospectus for the purpose of this section being deemed to include any Preliminary Prospectus, the Prospectus and any amendments or supplements to the foregoing), in any “issuer information” (as defined in Rule 433 under the Act) of the
Company or arises out of or is based upon any omission or alleged omission to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, except, with respect
to such Prospectus, insofar as any such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in, and in conformity with information concerning the
Purchaser furnished in writing by or on behalf of the Purchaser to the Company expressly for use in, such Prospectus or arises out of or is based upon any omission or alleged omission to state a material fact in such Prospectus in connection with
such information, which material fact was not contained in such information and which material fact was necessary in order to make the statements in such information, in the light of the circumstances under which they were made, not misleading,
(iii) any untrue statement or alleged untrue statement made by the Company in Article 3 hereof or the failure by the Company to perform, when and as required, any agreement or covenant contained herein; or (iv) any untrue statement or
alleged untrue statement of any material fact contained in any audio or visual materials provided by the Company or based upon written information furnished by or on behalf of the Company including, without limitation, slides, videos, films or tape
recordings used in connection with the marketing of the Shares. The indemnification required by this Section 4.7 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are
received or are incurred. The indemnity agreements contained herein shall be in addition to any cause of action or similar right of any Purchaser Party against the Company or others, and (y) any liabilities the Company may be subject to
pursuant to law. 
  

 21 

 4.8 Listing of Common Stock. The Company hereby agrees to use best efforts to
maintain the listing or quotation of the Common Stock on the Nasdaq Capital Market. The Company further agrees, if the Company applies to have the Common Stock traded on any other Trading Market, it will then include in such application all of the
Shares, and will take such other action as is necessary to cause all of the Shares to be listed or quoted on such other Trading Market as promptly as possible. The Company will then take all action reasonably necessary to continue the listing and
trading of its Common Stock on a Trading Market and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Trading Market. 

4.9 Equal Treatment of Purchaser. No consideration shall be offered or paid to any Person to amend or consent to a waiver or
modification of any provision of any of the Transaction Documents unless the same consideration is also offered to all of the parties to the Transaction Documents or to all parties simultaneously investing in the Company on terms identical to the
terms set forth in the Transaction Documents. For clarification purposes, this provision constitutes a separate right granted to the Purchaser by the Company and negotiated separately by the Purchaser, and is intended for the Company to treat the
Purchaser as a class with other purchasers and shall not in any way be construed as the Purchaser acting in concert or as a group with respect to the purchase, disposition or voting of Shares or otherwise. 

4.10 Subsequent Equity Sales. 

(a) From the date of this Agreement until 30 calendar days thereafter, the Company shall not issue shares of Common Stock
or Common Stock Equivalents. 
 (b) Notwithstanding the foregoing, this Section 4.11 shall not apply in
respect of an Exempt Issuance. 
 4.11 Short Sales and Confidentiality After The Date Hereof. The Purchaser covenants
that neither it nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any Short Sales during the period commencing with the Discussion Time and ending at such time the transactions contemplated by this
Agreement are first publicly announced as described in Section 4.3. The Purchaser covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company as described in Section 4.3, the
Purchaser will maintain the confidentiality of the existence and terms of this transaction and the information included in the Disclosure Schedules. Notwithstanding the foregoing, the Purchaser makes no representation, warranty or covenant
hereby that it will not engage in Short Sales in the securities of the Company after the time that the transactions contemplated by this Agreement are first publicly announced as described in Section 4.3. Notwithstanding the foregoing, in
the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of the Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by
the portfolio managers managing other portions of the Purchaser’s assets, the covenant set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the
Shares covered by this Agreement. 
  

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 ARTICLE V. 

MISCELLANEOUS 

5.1 Termination. This Agreement may be terminated by the Purchaser, as to the Purchaser’s obligations hereunder only and
without any effect whatsoever on the obligations between the Company and any other purchasers, by written notice to the other parties, if the Closing has not been consummated on or before August 10, 2010; provided, however, that
no such termination will affect the right of any party to sue for any breach by the other party (or parties). 
 5.2 Fees and
Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party
incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Shares to the
Purchasers. 
 5.3 Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, the
Prospectus and the Prospectus Supplement, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the
parties acknowledge have been merged into such documents, exhibits and schedules. 
 5.4 Notices. Any
and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number set forth on the signature pages attached hereto prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the
2nd Trading Day following the date of mailing, if sent by
U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached
hereto. 
 5.5 Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written
instrument signed, in the case of an amendment, by the Company and the Purchaser, or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver of any default with respect to any provision,
condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any
party to exercise any right hereunder in any manner impair the exercise of any such right. 
 5.6 Headings. The headings
herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. 
  

 23 

 5.7 Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Purchaser (other than by merger). The Purchaser may assign
any or all of its rights under this Agreement to any Person to whom the Purchaser assigns or transfers any Shares, provided such transferee agrees in writing to be bound, with respect to the transferred Shares, by the provisions of the Transaction
Documents that apply to the “Purchaser.” 
 5.8 No Third-Party Beneficiaries. This Agreement is intended for
the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in Section 4.8. 

5.9 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction
Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the
interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or
agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, borough of
Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any
right to serve process in any other manner permitted by law. If either party shall commence an action or proceeding to enforce any provisions of the Transaction Documents, then the prevailing party in such action or proceeding shall be reimbursed by
the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding. 

5.10 Survival. The representations and warranties contained herein shall survive the Closing and the delivery of the Shares for
the applicable statute of limitations. 
 5.11 Execution. This Agreement may be executed in two or more counterparts, all
of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same
counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, 

 

 24 

 
such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or
“.pdf” signature page were an original thereof. 
 5.12 Severability. If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and
shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable. 
 5.13 Replacement of Shares. If any certificate or
instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution
therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any
reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Shares. 
 5.14
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised
on the next succeeding Business Day. 
 5.15 Construction. The parties agree that each of them and/or their respective
counsel has reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the
interpretation of the Transaction Documents or any amendments hereto. In addition, each and every reference to share prices in any Transaction Document shall be subject to adjustment for reverse and forward stock splits, stock dividends, stock
combinations and other similar transactions of the Common Stock that occur after the date of this Agreement. 
 5.16
WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY
ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 
 (Signature Pages Follow) 

  

 25 

 IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement
to be duly executed by their respective authorized signatories as of the date first indicated above. 
  

							
	CATALYST PHARMACEUTICAL PARTNERS, INC.	 		 	 Address for Notice:

355 Alhambra Circle
 Suite 1370

Coral Gables, Florida 33134

	By:	 	         /s/  Patrick J. McEnany
	 		 	
		 	 Name: Patrick J. McEnany

Title: Chairman and CEO
	 		 	
	With a copy to (which shall not constitute notice):	 		 	
			
	 Philip B. Schwartz, Esq.

Akerman Senterfitt
 One Southeast Third Avenue,
25th Floor

Miami, Florida 33131
	 		 	

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 

SIGNATURE PAGE FOR PURCHASER FOLLOWS] 
  

 26 

 [PURCHASER SIGNATURE PAGE TO CPRX SECURITIES PURCHASE AGREEMENT] 

IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective
authorized signatories as of the date first indicated above. 
  

			
	Name of Purchaser:	 	         Fidelity Advisor Series VII: Fidelity Advisor
Biotechnology Fund

			
		
	Signature of Authorized Signatory of Purchaser:	 	         /s/  Gary
Ryan

			
		
	Name of Authorized Signatory:	 	         Gary
Ryan

			
		
	Title of Authorized Signatory:	 	         Assistant
Treasurer

  

 27Amendment No. 2, dated as of August 2, 2010, to the Credit Agreement

 Exhibit 10.2 

EXECUTION COPY 

AMENDMENT NO. 2 

TO 

CREDIT AGREEMENT 

AMENDMENT NO. 2, dated as of August 2, 2010 (this “Amendment”) to the Credit Agreement, dated as of
September 1, 2009, among Virtus Investment Partners, Inc. (the “Borrower”), the Lenders party thereto, and The Bank of New York Mellon, as Administrative Agent and as Issuing Bank, as amended by Amendment No. 1, dated as
of July 8, 2010 (as the same may be amended, supplemented or otherwise modified from time to time, the “Credit Agreement”). 

RECITALS 

I. Capitalized terms used herein and not herein defined shall have the meanings set forth in the Credit Agreement. 

II. The Borrower desires to amend the Credit Agreement upon the terms and conditions herein contained, and the Credit Parties have agreed
thereto upon the terms and conditions herein contained. 
 Accordingly, in consideration of the Recitals and the covenants,
conditions and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

1. The defined term “Maturity Date” contained in Section 1.1 of the Credit Agreement is hereby amended and restated
in its entirety as follows: 
 “Maturity Date” means September 30, 2013. 

2. Subsection (f) of the defined term “Permitted Investments” contained in Section 1.1 of the Credit Agreement
is hereby amended and restated in its entirety as follows: 
 (f) investments in Virtus Funds, provided
that (i) the aggregate outstanding amount of all such investments in any single Virtus Fund that is a short-term investment-grade bond fund shall not exceed $7,500,000 at any one time, (ii) the aggregate outstanding amount of all such
investments in any other Virtus Fund shall not exceed $2,000,000 at any one time, and (iii) the aggregate outstanding amount of all such investments in Virtus Funds shall not exceed $20,000,000 at any one time. 

 3. The table immediately following the first paragraph of the defined term
“Applicable Margin” contained in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
  

									
	 When the Leverage Ratio is:
	  	 	 	 	 	 
	 greater than or equal to
	  	and less than	  	ABR Margin	 	 	Eurodollar
Margin and LC Fee	 
	 2.50:1.00
	  	n/a	  	2.00	% 	 	3.00	% 
	 2.00:1.00
	  	2.50:1.00	  	1.50	% 	 	2.50	% 
	 n/a
	  	2.00:1.00	  	1.25	% 	 	2.25	% 

 4. The defined
term “Prohibited Convertible Preferred Event” contained in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“Prohibited Convertible Preferred Event” means that on and as of October 31, 2011, to the extent
there are any Convertible Preferreds outstanding as of such date for which an obligation exists (whether or not contingent) of the Loan Parties to purchase, tender for, redeem, retire or otherwise reacquire any portion of the Convertible Preferreds
(or any securities into which they have been converted or exchanged) on a date prior to the Maturity Date, the Certificate of Designation shall not have been amended in form and substance satisfactory to the Administrative Agent (and all requisite
stockholder consents therefor have been obtained), to provide that all obligations (whether or not contingent) of the Loan Parties to purchase, tender for, redeem, retire or otherwise reacquire any portion of the Convertible Preferreds (or any
securities into which they have been converted or exchanged) on or prior to the Maturity Date shall be subordinated to the Credit Obligations. 

5. Section 1.1 of the Credit Agreement is hereby amended by adding the following defined terms thereto in correct alphabetical order:

 “Allowed Redemption Amount” means the lesser of (i) $9,800,000, and (ii) the aggregate
liquidation preference of all Convertible Preferreds redeemed and retired by the Borrower at any time. 

“D&P Closed-end Funds” means each of DNP Select Income Fund, DTF Tax-Free Income, Inc. and Duff &
Phelps Utility and Corporate Bond Trust, in each case so long as (i) it constitutes a Virtus Fund, (ii) it constitutes a closed-end fund within the meaning of the Investment Company Act of 1940, as amended, (iii) the shares thereof trade on a
nationally-recognized securities exchange, and (iv) the investment manager therefor is Duff & Phelps Investment Management Company. 
  

 2 

 “Liquid Assets” means, without duplication,
(a) investments in D&P Closed-end Funds to the extent the fair market value of all such investments does not exceed $2,000,000, (b) cash and (c) Permitted Investments (excluding Permitted Investments within the meaning of
paragraph (f) of such defined term). 
 6. Sections 2.1(b), 2.7(c), 2.8(b)(i) and 7.12(f) of the Credit Agreement are each
hereby amended by deleting the ratio “1.75:1.00” each time it appears therein and inserting in its place the ratio “1.25:1.00”. 

7. Section 2.5(b) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

(b)(i) Upon the occurrence of any Commitment Reduction Event, (i) the Revolving Commitments shall be reduced by an
amount equal to 50% of the Net Proceeds thereof, and (ii) upon the occurrence of a Prohibited Convertible Preferred Event, the Revolving Commitments shall terminate. 

8. Sections 7.4(h)(iv) and 7.4(h)(vii) of the Credit Agreement are each hereby amended by inserting the phrase “except in the case
of an acquisition made pursuant to this Section 7.4(h) for aggregate consideration of less than $5,000,000,” immediately before the first word thereof. 

9. Section 7.4(h)(x) of the Credit Agreement is hereby amended by deleting the amount “$5,000,000” appearing therein and
inserting in its place the amount “$15,000,000”. 
 10. Section 7.5(e)(i) of the Credit Agreement is hereby
amended by (a) deleting the amount “$500,000” appearing therein, and (b) inserting the phrase “10% of the Consolidated Net Worth as of the end of the immediately preceding fiscal year” immediately after the words
“for any fiscal year” appearing therein. 
 11. Section 7.12(c) of the Credit Agreement is hereby amended by
deleting the amount “$2,500,000” appearing therein and inserting in its place the amount “$5,000,000”. 

12. Section 7.12(d) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

(d) Minimum Consolidated Net Worth. The Borrower shall not, as of any fiscal quarter end, permit the Consolidated
Net Worth to be less than (i) $65,000,000, minus (ii) the Allowed Redemption Amount, plus (iii) 50% of the consolidated net income (but not loss) of the Borrower and the Subsidiaries determined in accordance with GAAP
for each fiscal quarter ending after the Closing Date plus (iv) 75% of the aggregate net cash proceeds of each issuance of Equity Interests by the Borrower or any Subsidiary after the Closing Date. 

 

 3 

 13. Section 7.12(e) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 (e) Minimum Consolidated AUM. The Borrower shall not permit Consolidated AUM to be
less than (i) $15,000,000,000 at any fiscal quarter end occurring after the Closing Date and on or before March 30, 2012, or (ii) $18,000,000,000 at any fiscal quarter end thereafter. 

14. Section 7.12 of the Credit Agreement is hereby amended by inserting the following new subsection (g) at the end thereof:

 (g) Minimum Liquid Assets. The Borrower and the Subsidiary Guarantors shall at all times own, free and
clear of all Liens (other than Liens permitted under Section 7.2(a) or (f), and Permitted Encumbrances within the meaning of clauses (a), (e), and (g) of such defined term), Liquid Assets having a fair market value of not less than
$7,500,000 a consolidated basis. 
 15. The Credit Agreement is hereby amended by deleting the term “Asset Coverage Ratio
Certificate” each time it appears therein and inserting in its place the term “Monthly Certificate”. 
 16.
Schedule 1.1 to the Credit Agreement is hereby deleted in its entirety. 
 17. Exhibit K to the Credit Agreement is hereby
amended and restated in its entirety in the form of Exhibit K attached hereto. 
 18. Paragraphs 1 through 17 of this Amendment
shall not be effective unless and until the following conditions precedent shall have been satisfied (the “Amendment Effective Date”): 

(a) The Administrative Agent (or its counsel) shall have received from the Borrower, each Subsidiary Guarantor and all
Lenders either (i) a counterpart of this Amendment signed on behalf of each such Person, or (ii) written evidence satisfactory to the Administrative Agent (which may include facsimile transmission of a signed signature page of this
Amendment) that each such Person has signed a counterpart of this Amendment. 
 (b) The Administrative Agent
shall have received a favorable written opinion (addressed to the Credit Parties and dated the Closing Date) from counsel to the Loan Parties as the Lenders shall reasonably request. 

(c) The Administrative Agent shall have received a certificate of the President or a Vice President and the Secretary or
Assistant Secretary of each Loan Party, dated as of the Amendment Effective Date: 
 (i) attaching (A) a
true, correct and complete copy of its charter documents, or providing a certification that the charter documents have not been amended since September 1, 2009, all of which shall in all respects be reasonably satisfactory to the Administrative
Agent, and (B) a true, correct and complete 
  

 4 

 
copy of its by laws, operating agreement or other analogous agreement, or providing a certification that such have not been amended since September 1, 2009, all of which shall in all
respects be reasonably satisfactory to the Administrative Agent, 
 (ii) attaching resolutions of its board of
directors, general partner or other managing Person authorizing the execution, delivery and performance of this Amendment and certifying that (A) such resolutions were duly adopted and in full force and effect and (B) no other resolutions
relating to this Amendment have been adopted, 
 (iii) certifying, if applicable, as to the incumbency of its
officer or officers who may sign this Amendment, including therein a signature specimen of such officer or officers, 

(iv) attaching certificates of good standing (or comparable certificates), certified as of a recent date prior to the date
hereof, by the Secretaries of State (or comparable official) of the jurisdiction of its incorporation or formation, and 

(v) either (A) attaching copies of all consents, licenses and approvals required in connection with the execution,
delivery and performance by such Loan Party, and the validity against such Loan Party, of the Loan Documents to which it is a party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such
consents, licenses or approvals are so required. 
 (d) The Administrative Agent shall have received a
certificate of the President or a Vice President and the Secretary or Assistant Secretary of the Borrower, dated as of the Amendment Effective Date and in form and substance satisfactory to the Administrative Agent: 

(i) certifying that immediately after giving effect to this Amendment, (A) the Leverage Ratio shall be no greater
than 2.25:1.00, as calculated solely with respect to the results for the twelve (12) month period ended March 31, 2010, (B) Consolidated Net Worth is not less than $65.0 million, (C) the Interest Coverage Ratio is not less than
3.00:1.00, as calculated solely with respect to the results for the twelve (12) month period ended March 31, 2010, and (D) Consolidated AUM is not less than $15,000,000,000, 

(ii) certifying that the Borrower previously delivered to the Administrative Agent annual and quarterly financial
projections, including projected capital expenditures, covering the term of the Credit Agreement (the “Projections”), and 

(iii) certifying that immediately before and after giving effect to this Amendment (A) no default shall have occurred
or would exist, and (B) no material adverse change shall have occurred to the financial condition, business, 
  

 5 

 
assets, properties, prospects, operations or performance of the Borrower, or the Borrower and its Subsidiaries taken as a whole, (1) since the date of the last audited financial statements
for the Borrower delivered to the Lenders prior to the Amendment Effective Date, and (2) from that described in the Projections. 

(e) The Borrower shall have paid all fees and expenses of the Administrative Agent in connection with the preparation,
negotiation, execution and delivery of this Amendment and the other matters contemplated hereby, including, without limitation, the reasonable fees and expenses of the Administrative Agent’s counsel. 

19. The Borrower hereby (i) reaffirms and admits the validity and enforceability of each Loan Document to which it is a party and
its obligations thereunder, and agrees and admits that (a) it has no defense to any such obligation, (b) it shall not exercise any setoff or offset to any such obligation, and (c) to its knowledge, it does not have any claim against
any Credit Party arising out of the transactions contemplated by the Loan Documents, and (ii) represents and warrants that no Default has occurred and is continuing and that all of the representations and warranties made by it in the Loan
Documents are true and correct in all material respects, both immediately before and after giving effect to this Amendment. 

20. This Amendment may be executed in any number of counterparts, each of which shall be an original and all of which shall constitute
one agreement. It shall not be necessary in making proof of this Amendment to produce or account for more than one counterpart signed by the party to be charged. 

21. The Credit Agreement and the other Loan Documents shall in all other respects remain in full force and effect, and no amendment
herein in respect of any term or condition of any Loan Document shall be deemed to be an amendment or other modification in respect of any other term or condition of any Loan Document. 

22. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT
OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 
 [Remainder of page intentionally
left blank] 
  

 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly
executed and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	VIRTUS INVESTMENT PARTNERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President
		 	& Chief Financial Officer
	
	THE BANK OF NEW YORK MELLON,
		 	individually, as Issuing Bank and as the Administrative Agent
		
	By:	 	 /s/ Richard G. Shaw

	Name:	 	Richard G. Shaw
	Title:	 	Vice President
	
	PNC BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Cara Gentile

	Name:	 	Cara Gentile
	Title:	 	Vice President

 Each of the Subsidiary Guarantors,

 by signing below, hereby 

acknowledges and agrees to the 
 Amendment:

 DUFF & PHELPS INVESTMENT MANAGEMENT CO. 
  

			
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Treasurer

			
	ENGEMANN ASSET MANAGEMENT
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Chief Financial Officer
	
	EUCLID ADVISORS LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Treasurer

 KAYNE
ANDERSON RUDNICK INVESTMENT MANAGEMENT, LLC 
  

			
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Senior Vice President & Chief Financial Officer
	
	PASADENA CAPITAL CORPORATION
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Chief Financial Officer

RUTHERFORD FINANCIAL CORPORATION 
  

			
	By:	 	 /s/ David Hanley

	Name:	 	David Hanley
	Title:	 	Vice President & Treasurer
	
	SCM ADVISORS LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Senior Vice President & Chief Financial Officer

			
	VIRTUS INVESTMENT ADVISERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Chief Financial Officer
	
	VIRTUS PARTNERS, INC.
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President, Chief Financial Officer
	
	ZWEIG ADVISERS, LLC
		
	By:	 	 /s/ Michael A. Angerthal

	Name:	 	Michael A. Angerthal
	Title:	 	Executive Vice President & Chief Financial Officer

 EXHIBIT K TO AMENDMENT NO. 2 

VIRTUS INVESTMENT PARTNERS, INC. 

EXHIBIT K 

FORM OF MONTHLY CERTIFICATE 

I,                     , do
hereby certify that I am the                      of Virtus Investment Partners. Inc. (the “Borrower”), and that, as such, I
am duly authorized to execute and deliver this Monthly Certificate on the Borrower’s behalf pursuant to Section 6.1(e) of the Credit Agreement, dated as of September 1, 2009, among the Borrower, the Lenders party thereto, and The
Bank of New York Mellon, as Administrative Agent and as Issuing Bank (as the same may be amended, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein which are not defined
herein shall have the meanings assigned to such terms in the Credit Agreement. In the event of any conflict between the calculations set forth in this Monthly Certificate and the manner of calculation required by the Credit Agreement, the terms of
the Credit Agreement shall govern and control. 
 This Monthly Certificate is delivered for the month ended
            , 20     (the “Test Date”). As of the Test Date, (i) the Asset Coverage Ratio was
    .    :1:00 calculated as set forth on the attached Schedule A, and (ii) the value of Liquid Assets was $            
calculated as set forth on the attached Schedule B. 
 IN WITNESS WHEREOF, I have executed this Monthly Certificate on this
                     day of     , 20    . 

 

			
	VIRTUS INVESTMENT PARTNERS, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

Virtus Investment Partners, Inc. Monthly Certificate 

 SCHEDULE A TO MONTHLY CERTIFICATE 

FOR THE MONTH ENDED                  ,
20     
  

						
	1.	  	The book value of all cash of the Borrower and its Subsidiaries on a consolidated basis as of the Test Date	  	$	                    
			
	2.	  	The book value of all cash attributable to VPDI as of the Test Date	  	$	                    
			
	3.	  	Item 1 minus Item 2	  	$	                    
			
	4.	  	The book value of all marketable securities (including all investments in Virtus Funds to the extent constituting marketable securities) of the Borrower and its Subsidiaries on a
consolidated basis as of the Test Date	  	$	                    
			
	5.	  	The book value of all marketable securities (including all investments in Virtus Funds to the extent constituting marketable securities) attributable to VPDI as of the Test Date
	  	$	                    
			
	6.	  	Item 4 minus Item 5	  	$	                    
			
	7.	  	The net book value of all investment management receivables of the Borrower and its Subsidiaries on a consolidated basis as of the Test Date	  	$	                    
			
	8.	  	The net book value of all investment management receivables attributable to VPDI as of the Test Date	  	$	                    
			
	9.	  	Item 7 minus Item 8	  	$	                    
			
	10.	  	Excluded Amount of all Excluded Investments	  	$	                    
			
	11.	  	Investment in a Virtus Short-term Bond Fund to the extent in excess of $2,000,000	  	$	                    
			
	12.	  	 Asset Coverage Amount
  

((Item 3 + Item 6 + Item 9) minus (Item 10 + Item 11)
	  	$	                    
			
	13.	  	The aggregate Revolving Credit Exposure of all the Lenders as of the Test Date	  	$	                    
			
	14	  	 Asset Coverage Ratio
  

(Item 12:Item 13)
	  	$	                    

Virtus Investment Partners, Inc. Monthly Certificate 

 SCHEDULE B TO MONTHLY CERTIFICATE 

FOR THE MONTH ENDED
                         , 20     

 

						
	 1.
	 	The Borrower’s and the Subsidiary Guarantors’ investments in D&P Closed-end Funds to the extent the fair market value of all such investments does not exceed
$2,000,000	  	$	                    
			
	 2.
	 	The Borrower’s and the Subsidiary Guarantors’ cash	  	$	                    
			
	 3.
	 	The Borrower’s and the Subsidiary Guarantors’ Permitted Investments (excluding Permitted Investments within the meaning of paragraph (f) of such defined
term)	  	$	                    
			
	 4.
	 	 The Borrower’s and the Subsidiary Guarantors’ Liquid Assets

 
 (Item 1 + Item 2 + Item 3)
	  	$	                    

Virtus Investment Partners, Inc. Asset Coverage Ratio Certificate

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