Document:

Exhibit 4.3

FermaVir Pharmaceuticals,
Inc.

420 Lexington Avenue, Suite 445

New York, NY 10170

LETTER AGREEMENT

September __, 2006

	
  [Name of
  Investor]

  
	
   

  

 

Ladies and Gentlemen:

FermaVir Pharmaceuticals,
Inc., a Florida corporation (the “Company”), is offering  shares of its common stock, par value $0.0001
per share (the “Common Stock”) and warrants to purchase Common Stock (the “Warrants”)
as an extension fee to certain accredited investors (the “Investors”) that
participated in a private offering of 12% notes due January 1, 2007 (the “Notes”
in June and July 2006 (the “Prior Offering”). 
The offer is made to facilitate additional financing in the form of the
issuance of 8% notes due January 1, 2008 and warrants expiring June 30, 2014 in
an amount up to an additional $100,000. 
If accepted, the Investors would hold notes and warrants with the same
terms as the participants in the new financing, except that interest accrued
through August 31, 2006 will have been accrued at the higher annual interest
rate of 12%.

Investors agreeing to
extend the Maturity Date of the Notes one year until January 1, 2008 will be
issued  12.5 shares of common stock and
50 approximately eight year non-callable warrants exercisable at $1.00 per share
(described below) for each $100 principal amount of notes they acquired in the
Prior Offering. The number of shares of common stock was determined by dividing
the sum of $32,500 by the closing price of the common stock on the OTCBB on
September 11, 2006.  In order to agree to
extend the Notes and receive the shares of common stock and additional
warrants, the Investors are asked to enter into an Amendment Agreement (in the
form annexed to this letter as Exhibit A, amending the Note and Warrants, to:

(i)
                                  extend
the Maturity Date of the Notes to January 1, 2008;

(ii)                                  lower
the interest rate accruing on the principal amount of the Notes from 12% per
annum to 8% commencing as of September 1, 2006;

(iii)                               increase
the financing trigger requiring mandatory redemption of the Notes from two to
three times the outstanding principal of the Notes;

(iv)                              lower
the Optional Redemption Price of 106% of the principal amount of the Note, plus
accrued interest from to 103% of  the
principal for the period from July 1, 2007 to the Maturity Date; and

 

 

Letter Agreement

September __, 2006

Page 2

(v)                                 extend
the Expiration Date of the Warrants from June 30, 2012 to June 30, 2014.

EACH INVESTOR IS FREE TO
ACCEPT OR REJECT THIS OFFER, HOWEVER, THE NOTES MAY BE AMENDED BY THE HOLDERS
OF 51% OF THE OUTSTANDING PRINCIPAL AMOUNT OF THE NOTES, ACCORDINGLY IF THE
REQUISITE PERCENTAGE OF INVESTORS ACCEPTS THE OFFER BY THE DEADLINE SET FORTH
BELOW, THE BALANCE MAY SUFFER THE AMENDMENT OF THE NOTE WITHOUT RECEIVING ANY
OF THE CONSIDERATION OFFERED FOR THE EXTENSION.

Please review the lock-up
agreement and Amendment Agreement annexed hereto as Exhibit B.  If you accept the Company’s proposal, please
execute this Letter Agreement, lock-up agreement and Amendment Agreement and
return it to the undersigned by September 25, 2006 (the “Deadline”).  Certificates representing the new shares and
warrants will be issued to Investors accepting the offer within five business
days of the Deadline.  The Company may
accept or reject documents received from investors after the Deadline, in its
sole discretion.

Each of undersigned
hereby represents and warrants that the undersigned has full power and
authority to enter into this Letter Agreement. All authority herein conferred
or agreed to be conferred and any obligations of the undersigned shall be
binding upon the successors, assigns, heirs or personal representatives of the
undersigned.

This Letter Agreement
shall be governed by and construed in accordance with the laws of the State of
New York, without regard to the conflict of laws principles thereof.

	
  

  	
   

  	
  Very truly yours,

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  FERMAVIR PHARMACEUTICALS, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Geoffrey E. Henson

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive Officer

  	
   

  	
   

  

 

Accepted as of the date
first set forth above, September __, 2006:

[Investor]

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:Exhibit 4.4

NAME OF SUBSCRIBER: ______________________

FERMAVIR PHARMACEUTICALS, INC.

AMENDMENT
AGREEMENT

This Amendment Agreement
dated as of September __, 2006 (the “Amendment”) by and between
______________ (the “Investor”) and FermaVir Pharmaceuticals, Inc., a
Florida corporation (the “Company”), amends certain provisions of a 12%
Note due January 1, 2007, FN-1 (the “Prior Note”) and Warrant, FW-1 (the
“Prior Warrant”) issued by the Company to the Investor pursuant to a
Securities Purchase Agreement dated as of June 16, 2006 between the Company and
Investor.

WITNESSETH:

WHEREAS, the Company has
offered and the Investor has accepted, shares of Common Stock, $.0001 par value
and non-callable warrants expiring June 30, 2014, exercisable for $1.00 per
share (the “New Warrants” and together with the shares of Common Stock,
the “New Securities”), in exchange for the amendments to the Prior Note
and Prior Warrant set forth herein.

NOW,
THEREFORE, in consideration of and for the mutual promises and covenants contained
herein, and for other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties agree as follows:

SECTION 1.

1.1           Issuance.  In consideration of the agreements of the
Investor herein, the Company will issue to the Investor the amount of Common
Stock, par value $.0001 and New Warrants in the form annexed hereto as Exhibit
A, indicated on page 7 hereof, on the terms and conditions described herein.

SECTION 2.

2.1         Extension and
Interest Rate.  The first two
sentences of the Prior Note are  hereby
deleted in its entirety and replaced with the following provision:

“THIS NOTE is
issued by FermaVir Pharmaceuticals, Inc., a
Florida corporation (the “Company”),
and is part of an issue of an aggregate of up to $425,000 principal amount of
Notes due January 1, 2008 (the “Notes”).

FOR VALUE
RECEIVED, the Company promises to pay to [Holder],
or permitted assigns (the “Holder”),
the principal sum of [principal]  and
00/100 (US $[principal]) Dollars on January 1, 2008 (the “Maturity Date”) and to pay simple
interest on the principal sum outstanding at the rate of 12% per annum for the
period of original issuance set forth above to August 31, 2006 and 8% per annum
thereafter.”

 

 

2.2         Change in Voluntary
Redemption Premium.  Section 3(a) of
the Prior Note is hereby amended by adding the phrase “if called for redemption
on or before June 30, 2007 or 103% of the principal amount if called on or
after July 1, 2007 and accrued and unpaid interest to the date of redemption.”

2.3         Change in Mandatory
Redemption Trigger.   Section 3(c) of
the Prior Note is hereby amended by deleting the word “two” and inserting the
word “three.”

2.4         Reduction in
Penalty Interest.  Section 6(b) of
the prior Note is hereby amended by deleting “16%” and replacing it with “12%.”

SECTION 3.

3.1         Extending the Warrant Term.  The expiration date of “June 30, 2012” set
forth in Section 1.1 of the Prior Warrant is hereby amended to “June 30, 2014.”

3.2         Rule 144.  Section 9.5 of the Prior Warrant is hereby
amended to extend the time the Company agrees to comply with certain covenants
by deleting “June 30, 2008” and replacing it with “October 31, 2009.”

SECTION 4.

4.1           Investor Representations and
Warranties.  The Investor hereby
acknowledges, represents and warrants to, and agrees with, the Company and its
affiliates as follows:

(a)           The Investor is
acquiring the New Securities for his own account as principal, not as a nominee
or agent, for investment purposes only, and not with a view to, or for, resale,
distribution or fractionalization thereof in whole or in part and no other
person has a direct or indirect beneficial interest in such New Securities or
any of the components of the New Securities. 
Further, the Investor does not have any contract, undertaking, agreement
or arrangement with any person to sell, transfer or grant participations to
such person or to any third person, with respect to any of the New Securities
for which the Investor is subscribing or any of the components of the New
Securities.

(b)           The Investor has
full power and authority to enter into this Agreement, the execution and
delivery of this Agreement has been duly authorized, if applicable, and this
Agreement constitutes a valid and legally binding obligation of the Investor.

(c)           The Investor
acknowledges his understanding that the offering and sale of the New Securities
is intended to be exempt from registration under the Securities Act of 1933, as
amended (the “Securities Act”) by virtue of Section 4(2) of the Securities
Act.  In furtherance thereof, the Investor
represents and warrants to and agrees with the Company and its affiliates as
follows:

(i)            The Investor realizes that the basis
for the exemption may not be present if, notwithstanding such representations,
the Investor has in mind merely acquiring New Securities for a fixed or
determinable period in the future, or for a 

 

 

market rise, or for sale
if the market does not rise.  The
Investor does not have any such intention.

(ii)           The Investor has the financial
ability to bear the economic risk of his investment, has adequate means for
providing for his current needs and personal contingencies and has no need for
liquidity with respect to his investment in the Company; and

(iii)          The Investor has such knowledge and
experience in financial and business matters as to be capable of evaluating the
merits and risks of the prospective investment in the New Securities.  If other than an individual, the Investor
also represents it has not been organized for the purpose of acquiring the New
Securities.

(d)           The Investor:

(i)            Has been furnished with any and all
documents which may have been made available upon request for a reasonable
period of time prior to the date hereof;

(ii)           Has been provided an opportunity for
a reasonable period of time prior to the date hereof to obtain additional
information concerning the offering of the New Securities, the Company and all
other information to the extent the Company possesses such information or can
acquire it without unreasonable effort or expense;

(iii)          Has been given the opportunity for a
reasonable period of time prior to the date hereof to ask questions of, and
receive answers from, the Company or its representatives concerning the terms
and conditions of the offering of the New Securities and other matters
pertaining to this investment, and have been given the opportunity for a
reasonable period of time prior to the date hereof to obtain such additional
information necessary to verify the accuracy of the information provided in
order for him to evaluate the merits and risks of purchase of the New
Securities to the extent the Company possesses such information or can acquire
it without unreasonable effort or expense;

(iv)          Has not been furnished with any oral
representation or oral information in connection with the offering of the New
Securities which is not contained herein; and

(v)           Has determined that the New
Securities are a suitable investment for the Investor and that at this time the
Investor could bear a complete loss of such investment.

(e)           The Investor is not
relying on the Company, or its affiliates with respect to economic
considerations involved in this investment

 

 

(f)            The Investor
represents, warrants and agrees that he will not sell or otherwise transfer the
New Securities without registration under the Securities Act or an exemption
therefrom and fully understands and agrees that he must bear the economic risk
of his purchase because, among other reasons, the New Securities have not been
registered under the Securities Act or under the securities laws of any state
and, therefore, cannot be resold, pledged, assigned or otherwise disposed of
unless they are subsequently registered under the Securities Act and under the
applicable securities laws of such states or an exemption from such
registration is available.  In
particular, the Investor is aware that the New Securities are “restricted
securities,” as such term is defined in Rule 144 promulgated under the
Securities Act (“Rule 144”), and they may not be sold pursuant to Rule 144
unless all of the conditions of Rule 144 are met.  The Investor also understands that, except as
otherwise provided herein and in the certificates for the New Securities, the
Company is under no obligation to register the New Securities on his behalf or
to assist him in complying with any exemption from registration under the
Securities Act or applicable state securities laws.  The Investor further understands that sales
or transfers of the New Securities are further restricted by state securities
laws and the provisions of this Agreement.

(g)           No representations
or warranties have been made to the Investor by the Company, or any officer,
employee, agent, affiliate or subsidiary of the Company, other than the
representations of the Company contained herein, and in subscribing for New
Securities the Investor is not relying upon any representations other than
those contained herein.

(h)           Any information
which the Investor has heretofore furnished to the Company with respect to his
financial position and business experience is correct and complete as of the
date of this Agreement and if there should be any material change in such
information he will immediately furnish such revised or corrected information
to the Company.

(i)            The Investor
understands and agrees that the certificates for the New Securities shall bear
the following legend until (i) such securities shall have been registered under
the Securities Act and effectively been disposed of in accordance with a
registration statement that has been declared effective; or (ii) in the opinion
of counsel for the Company such securities may be sold without registration
under the Securities Act as well as any applicable “Blue Sky” or state
securities laws:

“THESE SECURITIES HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, ASSIGNED OR
TRANSFERRED EXCEPT (i) PURSUANT TO A REGISTRATION STATEMENT UNDER THE
SECURITIES ACT WHICH HAS BECOME EFFECTIVE AND IS CURRENT WITH RESPECT TO THESE
SECURITIES, OR (ii) PURSUANT TO A SPECIFIC EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT BUT ONLY UPON A HOLDER HEREOF FIRST HAVING OBTAINED THE
WRITTEN OPINION OF COUNSEL TO THE CORPORATION, OR OTHER COUNSEL REASONABLY
ACCEPTABLE TO THE CORPORATION, THAT THE PROPOSED DISPOSITION IS CONSISTENT WITH
ALL APPLICABLE 

 

 

PROVISIONS OF THE
SECURITIES ACT AS WELL AS ANY APPLICABLE “BLUE SKY” OR SIMILAR SECURITIES LAW.”

(j)            The Investor
understands that an investment in the New Securities is a speculative
investment which involves a high degree of risk and the potential loss of his
entire investment.

(k)           The Investor’s
overall commitment to investments which are not readily marketable is not
disproportionate to the Investor’s net worth, and an investment in the New
Securities will not cause such overall commitment to become excessive.

(l)            The foregoing
representations, warranties and agreements shall survive the Closing.

SECTION 5.

5.1         Effect on Prior Agreements.  Except as amended hereby, the terms and
provisions of the Prior Note and Prior Warrant shall remain in full force and
effect, and the Prior Note and Prior Warrant is in all respects ratified and
confirmed. On and after the date of this Amendment, each reference in the Prior
Note or Prior Warrant, as the case may be, to the “Note”, “Warrant”, “hereinaf­ter”,
“herein”, “herein­after”, “hereunder”, “hereof”, or words of like import shall
mean and be a reference to the Prior Note or Prior Warrant, as the case may be,
as amended by this Amendment.

SECTION 6.

6.1           Indemnity.  The Investor agrees to indemnify and hold
harmless the Company, its officers and directors, employees and its affiliates
and each other person, if any, who controls any thereof, against any loss,
liability, claim, damage and expense whatsoever (including, but not limited to,
any and all expenses whatsoever reasonably incurred in investigating, preparing
or defending against any litigation commenced or threatened or any claim
whatsoever) arising out of or based upon any false representation or warranty
or breach or failure by the Investor to comply with any covenant or agreement
made by the Investor herein or in any other document furnished by the Investor
to any of the foregoing in connection with this transaction.

6.2           Modification.  Neither this Agreement nor any provisions
hereof shall be modified, discharged or terminated except by an instrument in
writing signed by the party against whom any waiver, change, discharge or
termination is sought.

6.3           Notices.  Any notice, demand or other communication
which any party hereto may be required, or may elect, to give to anyone
interested hereunder shall be sufficiently given if (a) deposited, postage
prepaid, in a United States mail letter box, registered or certified mail,
return receipt requested, addressed to such address as may be given herein, or
(b) delivered personally at such address.

6.4           Counterparts.  This Agreement may be executed through the
use of separate signature pages or in any number of counterparts, and each of
such counterparts shall, 

 

 

for all purposes, constitute one agreement binding on
all parties, notwithstanding that all parties are not signatories to the same
counterpart.

6.5           Binding Effect.  Except as otherwise provided herein, this
Agreement shall be binding upon and inure to the  benefit of the parties and their heirs,
executors, administrators, successors, legal representatives and assigns.  If the Investor is more than one person, the
obligation of the Investor shall be joint and several and the agreements,
representations, warranties and acknowledgments herein contained shall be
deemed to be made by and be binding upon each such person and his heirs,
executors, administrators and successors.

6.6           Entire Agreement.  This Agreement and the documents referenced
herein contain the entire agreement of the parties and there are no
representations, covenants or other agreements except as stated or referred to
herein and therein.

6.7           Assignability.  This Agreement is not transferable or
assignable by the Investor.

6.8           Applicable Law.  This Agreement shall be governed by and
construed in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles.

6.9           Pronouns.  The use herein of the masculine pronouns “him”
or “his” or similar terms shall be deemed to include the feminine and neuter
genders as well and the use herein of the singular pronoun shall be deemed to
include the plural as well.

[SIGNATURE PAGES
FOLLOW]

 

 

ALL
INVESTORS MUST COMPLETE THIS PAGE

IN WITNESS WHEREOF, the
Investor has executed this Agreement on the 22nd day of September, 2006.

	
  

  	
   

  	
  Shares

  	
   

  	
  (calculated at the rate of 12.5 shares per $100 of
  principal amount of the Prior Note)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Warrants

  	
   

  	
  (calculated at the rate of 50 New Warrants per $100
  of principal amount of the Prior Note)

  

 

Manner in which Title is to be held (Please Check One):

	
  1.

  	
   

  	
  o

  	
   

  	
  Individual

  	
  7.

  	
  o

  	
   

  	
  Trust/Estate/Pension or Profit

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Sharing Plan

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Date Opened:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  o

  	
   

  	
  Joint Tenants
  with Right of Survivorship

  	
  8.

  	
  o

  	
   

  	
  As a Custodian for 

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Under the Uniform Gift to Minors Act 

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  of the State of

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  o

  	
   

  	
  Community
  Property

  	
  9.

  	
  o

  	
   

  	
  Married with Separate Property

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  o

  	
   

  	
  Tenants in
  Common

  	
  10.

  	
  o

  	
   

  	
  Keogh

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  o

  	
   

  	
  Corporation/Partnership/
  Limited Liability Company

  	
  11.

  	
  o

  	
   

  	
  Tenants by the Entirety

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
   

  	
  o

  	
   

  	
  IRA

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  
												

IF MORE THAN ONE INVESTOR, EACH INVESTOR MUST SIGN.

INDIVIDUAL INVESTORS MUST COMPLETE PAGE 9

INVESTORS WHICH ARE ENTITIES MUST COMPLETE PAGE 10

 

 

EXECUTION BY NATURAL PERSONS

 

	
  

  
	
  Exact Name in
  Which Title is to be Held

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Name (Please Print)

  	
   

  	
  Name of Additional Purchaser

  
	
   

  	
   

  	
   

  
	
  Residence: Number and Street

  	
   

  	
  Address of Additional Purchaser

  
	
   

  	
   

  	
   

  
	
  City, State and Zip Code

  	
   

  	
  City, State and Zip Code

  
	
   

  	
   

  	
   

  
	
  Social Security Number

  	
   

  	
  Social Security Number

  
	
   

  	
   

  	
   

  
	
  (Signature)

  	
   

  	
  (Signature of Additional Purchaser)

  

 

ACCEPTED this ______ day
of _________________, 2006 on behalf of the Company.

 

	
  

  	
  FERMAVIR PHARMACEUTICALS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

EXECUTION BY INVESTOR WHICH IS AN
ENTITY

(Corporation,
Partnership, Trust, Etc.)

	
  

  
	
  Name of Entity
  (Please Print)

  
	
   

  	
   

  
	
  Date of Incorporation or Organization:

  	
   

  
	
   

  	
   

  
	
  State of Principal Offices:

  	
   

  
	
   

  	
   

  
	
  Federal Taxpayer Identification Number:

  	
   

  
				

 

	
  

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  [seal]

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  	
   

  
	
   

  	
  (If Entity is a Corporation)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Taxpayer Identification Number

  

 

ACCEPTED this __nd day of September, 2006 on behalf of the
Company.

	
  

  	
  FERMAVIR PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Geoffrey W. Henson

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive Officer

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