Document:

Exhibit 10.21

 

GUARANTY
OF LEASE

 

In consideration of, and as an inducement for
the granting, execution and delivery of the foregoing Second Amended and
Restated Lease Agreement, dated as of October 26, 2007 (as the same may be
amended, modified, assigned, extended, supplemented, renewed, replaced and/or
restated from time to time, collectively, the “Lease”),
by 750 Park Place Realty Co., LLC (“Landlord”)
to B.J.K. Inc.,  d/b/a Chem Rx (“Tenant”), and in further
consideration of the sum of One ($1.00) Dollar and other good and valuable
consideration paid by Landlord to the undersigned, the receipt and sufficiency
of which are hereby acknowledged, the undersigned Chem Rx
Corporation, a Delaware corporation having an address at 750 Park
Place, Long Beach, New York 11561 (the “Guarantor”),
hereby  guaranties to Landlord, its successors
and assigns, the (a) full and prompt payment of all (i) Rent (as
defined in the Lease), (ii) use and occupancy charges to which Landlord may be
entitled by law or otherwise after the termination of the Lease and during the
continued occupancy by Tenant, its successors and assigns, (iii) costs
incurred by Landlord in seeking a termination of the Lease (including, without
limitation, through a final judgment by a court of competent jurisdiction) and
all costs incurred by Landlord in recovering vacant possession of the Premises
(as defined in the Lease) after Default (as defined in the Lease) by Tenant
and/or by the enforcement of this Guaranty, including without limitation,
reasonable attorneys’ fees and disbursements and (iv) damages, costs,
expenses, claims or liabilities that may arise as a result of Tenant’s
failure to pay for all costs of Tenant’s work or alterations, improvements or
modifications to the Premises by or for Tenant (other than such costs which the
Lease expressly provides will be paid for by Landlord, if any) or that may arise
as a result of Tenant’s failure to pay for any labor, materials or other costs
for improvements performed by or for Tenant with respect to the Premises which
costs if not paid for could give rise to a lien against the Premises, except to
the extent that the payment of such costs was required to be made by Landlord
pursuant to the terms of the Lease, and (b) full and timely performance
and observance of all the covenants, terms, conditions and agreements in the
Lease provided to be performed and observed by Tenant, its successors and
assigns (hereinafter such payment and performance obligations are collectively
referred to as the “Obligations”); and the
Guarantor hereby covenants and agrees to and with Landlord, its successors and
assigns, that if Default shall at any time be made by Tenant, its successors or
assigns, in the performance and observance of any the Obligations, including,
without limitation, the obligation to pay Rent, the Guarantor shall and will
forthwith pay such Rent to Landlord, its successors and assigns, and any
arrears thereof, and shall and will forthwith faithfully perform and
fulfill all of the other Obligations, and will forthwith pay to Landlord all
damages that may arise in consequence of any Default by Tenant, its
successors or assigns, under the Lease, including, without limitation, all
reasonable attorney’s fees and disbursements incurred by Landlord or caused by
any such Default and/or by the enforcement of this Guaranty (hereinafter
referred to as “this Guaranty”). Terms
printed with initial capital letters in this Guaranty and not otherwise defined
shall have the respective meanings assigned to them in the Lease.

 

This Guaranty is an absolute and
unconditional guaranty of payment and of performance. It shall be enforceable
against the Guarantor, its successors and assigns, without the necessity for
any suit or proceedings on Landlord’s part of any kind or nature whatsoever
against Tenant, its 

 

1

 

successors or assigns, and without the necessity of any notice of
non-payment, non-performance or non-observance or of any notice of acceptance
of this Guaranty or of any other notice or demand to which the Guarantor might
otherwise be entitled, all of which the Guarantor hereby expressly waives; and
the Guarantor hereby expressly agrees that the validity of this Guaranty and
the obligations of the Guarantor hereunder shall in nowise be terminated,
affected, diminished or impaired by reason of (i) the assertion of, or the
failure to assert by Landlord against Tenant, or against Tenant’s successors or
assigns, any of the rights or remedies reserved to Landlord pursuant to the
provisions of the  Lease or (ii) the
assertion of, or the failure to assert by Landlord against the Guarantor or
against its successors or assigns, any of the rights or remedies reserved to
Landlord pursuant to the provisions of this Guaranty or the Lease, or by relief
of Tenant or any other guarantor from any of their respective obligations under
or in connection with the Lease. Without in any way limiting the foregoing, the
Guarantor shall and does hereby waive any other act or omission of Landlord
which changes the scope of the Guarantor’s risk or any other event that
otherwise might constitute a legal or equitable counterclaim, defense or
discharge of a surety or guarantor.

 

This Guaranty shall be a continuing guaranty,
and the liability of the Guarantor hereunder shall in no way be affected,
modified or diminished by reason of any assignment, renewal, modification or
extension of the Lease or by reason of any modification or waiver of or change
in any of the terms, covenants, conditions or provisions of the Lease by
Landlord and Tenant, or by reason of any extension of time that may be
granted by Landlord to Tenant, its successors or assigns, or by reason of any
dealings or transactions or matter or thing occurring between Landlord and
Tenant, its successors or assigns, or by reason of any bankruptcy, insolvency,
reorganization, arrangement, assignment for the benefit of creditors,
receivership or trusteeship affecting Tenant or any other guarantor, or their
successors or assigns, whether or not notice thereof or of any thereof is given
to the Guarantor.

 

The Guarantor hereby represents and warrants
to Landlord that it is not entitled, directly or indirectly, to diplomatic or
sovereign immunity under any state or federal law. In the event that the
Guarantor hereunder is a corporation, the person executing this Guaranty on
behalf of the Guarantor hereby represents and warrants that: the Guarantor is a
duly constituted corporation authorized to do business in the State of New
York; all franchise and corporate taxes of the Guarantor have been paid to
date; such person is duly authorized to execute and deliver this Guaranty on
behalf of said corporation; the Federal Taxpayer Identification Number of said
corporation is as herein set forth below its signature; and any and all
financial statements relating to said corporation or Tenant heretofore
furnished to Landlord are true and correct in all material respects and do not
fail to state or omit any fact that would be necessary in order not to make the
same misleading.

 

In the event that this Guaranty shall be held
ineffective or unenforceable by any court of competent jurisdiction, the
Guarantor shall be deemed to be a tenant under the Lease with the same force
and effect as if the Guarantor were expressly named in the Lease as a joint
tenant with joint and several liability.

 

2

 

Unless and until all of the Obligations are
fully performed and observed, the Guarantor: (a) shall not be subrogated
to any rights of Landlord; (b) waives all rights of subrogation,
indemnity, contribution, exoneration, reimbursement or any other claim which
the Guarantor now has or hereafter shall have against Tenant  or any other person liable in any way with respect
to the Obligations; and (c) subordinates any liability or indebtedness of
Tenant now or hereafter held by the Guarantor to the Obligations. In addition,
the Guarantor agrees that, until all of the Obligations are fully performed and
observed, no Guarantor (a) shall accept payment from any other Guarantor
or person by way of contribution on account of any payment or act of
performance by such Guarantor, and (b) will take any action to exercise or
enforce any such rights to such contribution.

 

All of Landlord’s rights and remedies under
the Lease and under this Guaranty are intended to be distinct, separate and
cumulative and no such right or remedy therein or herein mentioned is intended
to be in exclusion of or a waiver of any of the others.

 

The Guarantor hereby covenants and agrees to
and with Landlord, its successors and assigns, that the Guarantor may be
joined in any action against Tenant or against any one or more other guarantors
in connection with the Lease and that recovery may be had against the
Guarantor without Landlord, its successors or assigns, first pursuing or
exhausting any remedy or claim against Tenant, its successors or assigns or
against any one or more other guarantors on the Lease. The Guarantor hereby
also expressly agrees that, in any jurisdiction, it will conclusively be bound
by the judgment in any such action by Landlord against Tenant (wherever
brought) as if the Guarantor were a party to such action even though the
Guarantor is not joined as a party in such action.

 

As a further inducement to Landlord to make
and enter into the Lease and in consideration thereof, Landlord and the
Guarantor covenant and agree that in any action or proceeding brought on, under
or by virtue of this Guaranty, Landlord and the Guarantor shall and do hereby
waive trial by jury.

 

The Guarantor hereby consents and agrees that
the Supreme Court of the State of New York for the County of New York and the
United States District Court for the Southern District of New York each shall
have personal jurisdiction and proper venue with respect to any dispute between
Landlord and the Guarantor; provided that
the foregoing consent shall not deprive Landlord of the right in its discretion
to voluntarily commence or participate in any action, suit or proceeding in any
other court having jurisdiction and venue. In any dispute with Landlord, the
Guarantor will not raise, and hereby expressly waives, any objection or defense
to any such jurisdiction as an inconvenient forum.

 

This Guaranty shall be governed by and
construed in accordance with the laws of the State of New York.

 

Any notice, demand or request by either party
to the other shall be in writing, and shall be deemed to have been duly given
if given by any of the means permitted for notices under Section 27 

 

3

 

of the Lease, addressed to the other party as follows: in the case of
the Guarantor, at its address set forth above or to such other address as the
Guarantor shall have given notice of to Landlord, and in the case of Landlord,
at Landlord’s address for notices under Section 27 of the Lease.

 

In case any term, condition or other
provision contained in this Guaranty shall be held to be invalid, illegal or
unenforceable, such invalidity, illegality or unenforceability shall not affect
any other term, condition or provision contained in this Guaranty.

 

This Guaranty shall inure to the benefit of
Landlord and Landlord’s successors and assigns, and shall be binding upon and
enforceable against the Guarantor and the Guarantor’s successors, assigns,
heirs (and, if the Guarantor is a natural person, his/her heirs and legal
representatives).

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

4

 

The Guarantor has unconditionally delivered
this Guaranty to Landlord, and the failure to sign any other guarantee by any
other person intended to be a guarantor of the Tenant’s obligations under the
Lease or any portion thereof shall not discharge the liability of the
Guarantor.

 

 

	
  Dated: October 26, 2007

  	
  Chem Rx Corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   /s/ Jerry Silva

  	
   

  
	
   

  	
   

  	
  Name: Jerry Silva

  
	
   

  	
   

  	
  Title: Chief Executive Officer

  
	
   

  	
  Federal Taxpayer I.D. No.: 20-2938469

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  STATE OF NEW YORK

  	
  )

  	
   

  	
   

  
	
   

  	
  :ss.:

  	
   

  	
   

  
	
  COUNTY OF NEW YORK

  	
  )

  	
   

  	
   

  

 

 

On the 26th day of October, 2007,
before me, the undersigned, a Notary Public in and for said State, personally
appeared Jerry Silva, personally known to me or
proved to me on the basis of satisfactory evidence to be the individual whose
name is subscribed to the within instrument and acknowledged to me that he
executed the same in his capacity, and that by his signature on the instrument,
the individual, or the person upon behalf of which the individual acted,
executed the instrument.

 

 

	
   

  	
  /s/ Michael
  Grandis

  	
   

  
	
   

  	
  Notary
  Public

  
	
   

  	
   

  
	
   

  	
  Michael Grandis

  
	
   

  	
  Notary Public, State of New York

  
	
   

  	
  No. 02-GR6067526

  
	
   

  	
  Qualified in New York County

  
	
   

  	
  Commission Expires 12/05/2009

  
	
   

  	
   

  

 

5Exhibit 10.22

Prime Vendor Agreement

 

This Prime Vendor Agreement
(“Agreement”) is made as of April 1, 2007 (“Effective Date”) by
AmerisourceBergen Drug Corporation, a Delaware corporation (“ABDC”), and BJK,
Inc., d.b.a. Chem Rx, a New York corporation (“Customer”).

 

A.            ABDC is a national distributor of pharmaceutical and
other products, including prescription (“Rx”) and over-the-counter (“OTC”)
pharmaceuticals, nutritional, health and beauty care (“HBC”) and home health
care ("DME”) products (“Product” or “Products”), and services (“Services”);

 

B.            Customer owns and operates a Facility in Long Beach, NY (“Facility”);
and

 

C.            The parties intend by this Agreement to set forth their
obligations to each other for an arrangement under which ABDC will provide Products
and Services to Customer (“Program”).

 

Now
Therefore, the parties agree as follows:

 

1.             Pricing and
Payment Terms

 

ABDC will be the Primary
Vendor of all requirements of Customer’s Facility for Products. Customer will
pay, within terms, Product costs and Program fees pursuant to payment terms in Exhibit
“1” (“Pricing/Payment Terms”). “Primary Vendor” means Customer purchases
from ABDC no less than 50% of all prescription pharmaceutical Products it
purchases for Facility, as verified quarterly, and meets minimum periodic
purchase levels in Paragraph 3(A) of the Pricing/Payment Terms. Orders for
Products will be electronically transmitted (including Schedule II controlled
substances when allowed) and will describe Products that ABDC will provide to
customer, the quantity and designated delivery location. All payment plans
(except pre-pay) must be by electronic funds transfer (EFT).

 

2.             Pro Generics Program Participation

 

Customer may elect to
participate in ABDC’s preferred generic formulary program (“Preferred RX
Options” or “PRxO Generics”) pursuant to requirements as amended from time to
time by ABDC. If participating, Customer will purchase no less than 0% of its
purchases of the “Top 100” generic pharmaceutical Products from ABDC. The Top
100 is a list determined from time to time by ABDC of more than one hundred
commonly used generic pharmaceutical Products. Customer authorizes ABDC as its
sole agent to develop and implement a generic pharmaceutical Product list for
the Term. Customer will purchase from ABDC each calendar quarter no less than
the minimum Net Purchase volume of generic pharmaceutical Products as set forth
in the Pricing/Payment Terms.

 

3.             Customer Locations & Deliveries

 

ABDC will deliver Products
to each Facility six days a week (Monday   Saturday), once a day except holidays
and warehouse physical inventory days. Customer will make all reasonable
efforts to limit the size and quantity of the Saturday order. Additionally,
Customer will be entitled to one emergency delivery per calendar quarter at no
additional charge. Customer may be charged for each additional emergency order.
Facility means Customer’s pharmacy in Long Beach, NY. Newly acquired facilities
with existing agreements with other distributors will become Facilities under
this Agreement with the mutual consent of ABDC and Customer upon the earlier of
expiration of such existing agreement or the date Customer may terminate such
agreement, with or without cause, without breaching it or paying a material
penalty; provided, however, service to Facilities outside ABDC’s normal service
area (which does not include Alaska, Hawaii or U.S. territories) may be subject
to a delivery surcharge.

 

1

 

 

4.             Fill Rates

 

A.            ABDC commits to a ninety-seven percent (97%) adjusted
fill rate on a chain-wide basis measured quarterly. The adjusted fill rates are
calculated as follows:

 

(a)           An item shorted on an original order will not be counted
as a short for the second time until 72 hours have passed.

 

(b)           Where only a partial quantity is received of an individual
line item, it will be a short only if fifty percent (50%) or less of the
quantity ordered is shipped.

 

(c)           On any new item, or an item previously not ordered by
Customer, a period of thirty (30) days will be given to add the item to ABDC’s
inventory. This period is computed from the date Customer places the original
order and provides estimates on usage.

 

(d)           The quantity of an item ordered in excess of one hundred
twenty percent (120%) of the most recent month’s order for such item on an
aggregate basis for all Customer facilities will not be considered short.

 

(e)           Manufacturer’s legitimate back orders, unavailability and
other shortages are not computed in determining the service level.

 

5.             Returned Goods Policy

 

Customer will only return
Products to ABDC in accordance with ABDC’s standard policy for returned
Products (“Returned Goods Policy”), as amended from time to time by ABDC. If
Customer returns more than 3% of its OTC Net Purchases, or 3% of its
pharmaceutical Net Purchases in any month, Customer may be assessed an
additional restocking fee over any standard stocking fee in the Returned Goods
Policy or ABDC may adjust the Price of Goods or both. Customer will return only
Product purchased from ABDC for which Customer has submitted the invoice number
and date of purchase.ABDC may reject returns not accompanied by the invoice
number and date of purchase or that exceed in amount either the 3% return limit
or the amount on the referenced invoice number. ABDC reserves the right to
refuse all future returns from Customer in the event that Customer submits any
counterfeit Product for return.

 

6.             Additional Services &
Provisions

 

Services are listed in Exhibit
“2”. Terms, conditions and other provisions are set forth in Exhibit “3”
("Provisions”). ABDC may, from time to time, develop policies and
procedures relative to new or existing Services offered to customers, on an
interim or as-needed basis. If ABDC develops such policies or procedures or
changes current ones, ABDC will notify Customer in writing at least thirty (30)
days before such changes are effective.

 

7.             Term of Agreement

 

Subject to Paragraph 5 of
the Provisions, the Term will be from the Effective Date until March 31, 2009
with two optional one year extensions. The Term will, thereafter, be extended
on a month-to-month basis until either party gives at least ninety (90) days
prior written notice to the other of its intention not to extend this
Agreement.

 

8.             Notices

 

Notices must be in writing
and sent certified mail, prepaid, return receipt requested, or sent by
facsimile to the address or facsimile number below. Parties may change this
information by written notice to the other party. Pursuant to the Telephone
Consumer Protection Act of 1991, 47

 

2

 

U.S.C. §227, Customer consents to receiving
notices, including product updates, recalls, new product launches and programs,
advertisements and other marketing materials by telephone facsimile (“fax”)
machine from ABDC, its affiliates and their related companies, to the fax
number set forth below.

 

 

	
  To Customer:

  	
   

  	
  BJK, Incl., d.b.a. Chem Rx

  
	
   

  	
   

  	
  790 Park Place

  
	
   

  	
   

  	
  Long Beach, NY 11561

  
	
   

  	
   

  	
  Attn: President

  
	
   

  	
   

  	
  Fax:

  
	
   

  	
   

  	
   

  
	
  To ABDC:

  	
   

  	
  AmerisourceBergen Drug Corporation

  
	
   

  	
   

  	
  100 Friars Boulevard

  
	
   

  	
   

  	
  Thorofare, NJ 08086

  
	
   

  	
   

  	
  Attn: James Rockefeller,
  Vice President Alternate Care Sales

  
	
   

  	
   

  	
  Fax: 856 384 2194

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  AmerisourceBergen
  Corporation

  
	
   

  	
   

  	
  1300 Morris Drive

  
	
   

  	
   

  	
  Chesterbrook, Pennsylvania
  19087-5594

  
	
   

  	
   

  	
  Fax: (610) 727-3612

  
	
   

  	
   

  	
   

  

 

8.             Exhibits

 

The following exhibits to
this agreement are incorporated by this reference.

 

	
  1
  

  	
   

  	
  Pricing/Payment Terms

  
	
  2
  

  	
   

  	
  Value-Added Services

  
	
  3

  	
   

  	
  Provisions

  

 

 

 

In
Witness Whereof, the parties have had a duly authorized officer,
partner or principal execute this Prime Vendor Agreement as of the Effective
Date.

 

	
  Customer:

  	
   

  	
  ABDC:

  
	
  BJK, Inc., d.b.a. Chem Rx

  	
   

  	
  AmerisourceBergen Drug Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title: Vice President,

  	
   

  
	
   

  	
   

  	
   

  
								

 

 

 

3

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