Document:

Exhibit

AMENDMENT NO. 2
TO
ASSET PURCHASE AGREEMENT 

This Amendment No. 2 to Asset Purchase Agreement (this “Amendment”), effective as of July 1, 2018, is entered into by and between Marcegaglia USA, Inc., a Pennsylvania corporation (“Seller”), and Bristol Metals, LLC, a Tennessee limited liability company (“Buyer”). Seller and Buyer may each be referred to herein individually as a “Party” and together as the “Parties”.

WHEREAS, Seller and Buyer entered into an Asset Purchase Agreement dated December 9, 2016, as amended by that certain Amendment No. 1 to Asset Purchase Agreement dated February 28, 2017 (collectively, the “Agreement”); and 

WHEREAS, Seller and Buyer now wish to amend the Agreement further as set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements hereinafter set forth herein, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties hereto agree as follows:

1.Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Agreement.

2.This Amendment shall be effective as of the date first written above.

3.This Amendment is an amendment to the Agreement and confirms additional agreements on the matters set forth below between Seller and Buyer.

4.Section 3.3.1 of the Agreement is hereby is hereby deleted in its entirety and replaced with the following: 

“3.3.1    As additional consideration for the Specified Assets, Buyer shall pay to Seller with respect to each Calculation Period within the Earn Out Period an amount (each, an “Earn Out Payment”) equal to: three percent (3%) of all Revenue generated by Buyer from the amount, if any, of (a) the sale of small diameter stainless steel pipe and tube (outside diameter of ten inches or less) sold in excess of 3.25 million pounds quarterly, excluding sales of Seller’s finished goods inventory post-Closing, and (b) the sale of stainless steel squares, rectangles and rounds tubes for ornamental applications; provided that, the Parties shall review the Earn Out Payments annually (each fourth Calculation Period during the Earn Out Period), and if necessary, adjust up or down the final quarterly Earn Out Payment for each year during the Earn Out Period to make certain the aggregate of the Earn Out Payments for each year during the Earn Out Period is equal to three percent (3%) of all Revenue generated by Buyer from the amount, if any, of the sale of small diameter stainless steel pipe and tube (outside diameter of ten inches or less) sold in excess of 13.0 million pounds annually, plus three percent (3%) of all Revenue generated by Buyer from the amount, if any, of the sale of stainless steel squares, rectangles and rounds tubes for ornamental applications.  Notwithstanding the foregoing, if at the end of the Earn Out Period, Buyer has paid Seller Earn Out Payments totaling less than $3,000,000, in the aggregate, then Buyer shall pay Seller a “true-up” payment equal to the difference between $3,000,000 and the aggregate of the Earn Out Payments previously paid to Seller. For the avoidance of confusion, the inclusion of all Revenue generated by Buyer from the amount, if any, of the sale of stainless steel squares, rectangles and rounds tubes for ornamental applications into the Earn Out Payment calculation begins on July 1, 2018 and continues through the end of the Earn Out Period with no re-calculation of the Earn Out Payments for the time periods during the Earn Out Period prior to July 1, 2018.” 

5.The definition of “Revenue” in Exhibit 1 (Defined Terms) of the Agreement is hereby deleted in its entirety and replaced with the following:

“Revenue” means, with respect to any Calculation Period, gross sales generated by Buyer of small diameter stainless steel pipe and tube (outside diameter of ten inches or less), or as the case may be, gross sales generated by Buyer of stainless steel squares, rectangles and rounds tubes for ornamental applications, determined in accordance with GAAP.”

6.Except as set forth in this Amendment, the Agreement is hereby ratified and confirmed in all respects and shall continue in full force and effect according to its terms.

7.The Agreement and this Amendment constitute the entire agreement of the parties regarding their subject matter and supersede all prior or contemporaneous agreements or understandings regarding such subject matter.

8.This Amendment may be executed in any number of counterparts and by each of the Parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Signatures of the Parties transmitted by electronic means shall be deemed to be their original signatures for all purposes.

[SIGNATURES ON THE NEXT PAGE]
INTENDING TO BE LEGALLY BOUND HEREBY, the Parties have executed or caused to be executed this Amendment No. 2 to Asset Purchase Agreement effective as of the day and year first above written.

BRISTOL METALS, LLC

By:  ________________________________
Name:
Title:

MARCEGAGLIA USA, INC.

By:  ________________________________
Name:
Title:

    

1Exhibit 10.1

 

THIRD AMENDMENT TO LEASE

 

THIS THIRD AMENDMENT
TO LEASE (the "Amendment") is made and entered into as of June 21, 2018, by and between IRVINE EASTGATE OFFICE
II LLC, a Delaware limited liability company (“Landlord”), and INTERCEPT PHARMACEUTICALS, INC., a
Delaware corporation (“Tenant”).

 

 

RECITALS

 

	A.	Landlord (as successor in interest to The Irvine Company LLC, a Delaware limited liability company)
and Tenant are parties to that certain lease dated May 1, 2014, which lease has been previously amended by First Amendment to Lease
dated December 19, 2014 and Second Amendment to Lease dated July 19, 2016 (the “Second Amendment”) (collectively,
the "Lease"). Pursuant to the Lease, Landlord has leased to Tenant space currently containing approximately 58,177
rentable square feet (the “Original Premises”) described as (i) Suite Nos. 100 and 200 on the 1st
and 2nd floors of the building located at 4760 Eastgate Mall, San Diego, California (the "4760 Building")
and (ii) Suite No. 250 (“Suite 250”) on the 2nd floor of the building located at 4780 Eastgate Mall,
San Diego, California (the “4780 Building”).

 

	B.	Tenant desires to surrender a portion of the Original Premises to Landlord containing approximately
11,177 rentable square feet described as Suite 250 on the 2nd floor of the 4780 Building (the “Give Back Space”)
and that the Lease be appropriately amended, and Landlord is willing to accept such surrender on the following terms and conditions.

 

NOW, THEREFORE,
in consideration of the above recitals which by this reference are incorporated herein, the mutual covenants and conditions contained
herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree
as follows:

 

	I.	Reduction.

 

A.
Tenant and Landlord agree that Tenant shall vacate the Give Back Space prior to 11:59 p.m. (PST) on June 27, 2018, which is the
date immediately preceding the Reduction Effective Date (as defined below) and Tenant shall fully comply with all obligations
under the Lease respecting the Give Back Space up to the Reduction Effective Date, including those provisions relating to the
condition of the Give Back Space and removal of Tenant's property therefrom, except that Landlord hereby acknowledges that Tenant
shall not be required to restore the Give Back Space or remove any alteration or improvement located therein or make any alteration
in connection therewith.

 

B.
Effective as of June 28, 2018 (the "Reduction Effective Date"), the Give Back Space shall no longer be considered
part of the Premises. As of the Reduction Effective Date, the Give Back Space shall be deemed surrendered by Tenant to Landlord,
the Lease shall be deemed terminated with respect to the Give Back Space, and the “Premises”, as defined in
the Lease, shall be deemed to mean the Remaining Portion of Original Premises. Effective as of the Reduction Effective Date, the
Premises shall consist of 47,000 rentable square feet.

 

	II.	Basic Rent. As of the Reduction Effective Date, the schedule of Basic Rent payable
with respect to the Premises during the remainder of the initial Term is the following:

 

	Months of Term or Period	
        Monthly Rate Per 

        Square Foot
	Monthly Basic Rent
	Reduction Effective Date to 9/30/18	$1.77	$83,190.00
	10/1/18 to 9/30/19	$1.85	$86,950.00

 

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All such Basic Rent shall be
payable by Tenant in accordance with the terms of the Lease.

 

	III.	Project Costs and Property Taxes. From and after the Reduction Effective Date,
Tenant shall continue to pay Tenant’s Share of Operating Expenses accruing in connection with the Premises (i.e. 47,000 rentable
square feet) in accordance with the terms of the Lease. Any rights of Landlord and Tenant to overpayments and underpayments of
Operating Expenses shall survive the Reduction Effective Date.

 

	IV.	Parking. Notwithstanding any contrary provision in Exhibit C to the Lease (“Parking”),
effective as of the Reduction Effective Date, Landlord shall lease to Tenant, and Tenant shall lease from Landlord, up to 188 unreserved
parking passes at the rate of $0.00 per pass, per month through the expiration of the initial Term (i.e. September 30, 2019).

 

	V.	SDN List. Tenant hereby represents and warrants that neither Tenant nor any officer,
director, employee, partner, member or other principal of Tenant (collectively, "Tenant Parties") is listed as
a Specially Designated National and Blocked Person ("SDN") on the list of such persons and entities issued by
the U.S. Treasury Office of Foreign Assets Control (OFAC). In the event Tenant or any Tenant Party is or becomes listed as an SDN,
Tenant shall be deemed in breach of this Lease and Landlord shall have the right to terminate the Lease immediately upon written
notice to Tenant.

 

	VI.	Consideration. Within three (3) business days after the execution of this Amendment,
Tenant shall pay to Landlord, by cashier's or certified check or by wire transfer of immediately available funds to an account
designated by Landlord, the sum of $90,247.76 (the “Surrender Payment”).

 

	VII.	Contingency. Tenant understands and agrees that this Amendment is contingent upon
the mutual execution and delivery of a new lease, lease amendment or other written agreement (“New Agreement”)
with another tenant or other third party to lease the Give Back Space on or before August 1, 2018. If the New Agreement is not
executed on or before August 1, 2018, then Landlord may terminate this Amendment by providing written notice thereof to Tenant,
whereupon, this Amendment shall be null and void and of no force or effect and the Lease shall continue in full force and effect
as if this Amendment had not been executed and the Surrender Payment shall thereupon be returned to Tenant. Upon such termination,
Tenant may re-occupy the Give Back Space or enter into one or more subleases of the Give Back Space; provided, however, it being
understood that such sublease(s), if any, shall be in accordance with the provisions of Article IX (Assignment and Subletting)
of the Lease.

 

	VIII.	Additional Letter of Credit. Landlord represents and agrees that the requirement
for Tenant to maintain the Additional Letter of Credit in the amount of $26,679.00 pursuant to Section IV of the Second Amendment
shall be returned to Tenant within 30 days following the Reduction Effective Date, subject to Landlord’s rights therein;
provided, however, it being understood that if the New Agreement is not executed on or before August 1, 2018, then Tenant’s
obligation to maintain the Additional Letter of Credit in the amount of $26,679.00 shall remain and the provisions of Section IV
of the First Amendment shall continue in full force and effect as if this Amendment had not been executed.

 

	IX.	GENERAL.

 

		A.	Effect of Amendments. The Lease shall remain in full force and effect except to the extent
that it is modified by this Amendment.

 

		B.	Entire Agreement. This Amendment embodies the entire understanding between Landlord and
Tenant and can be changed only by a writing signed by Landlord and Tenant. There have been no additional oral or written representations
or agreements. Under no circumstances shall Tenant be entitled to any rent abatement, improvement allowance, leasehold improvements,
or any similar economic incentives that may have been provided Tenant in connection with entering into the Lease, unless specifically
set forth in this Amendment.

 

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		C.	Counterparts; Digital Signatures. If this Amendment is executed in counterparts, each is
hereby declared to be an original; all, however, shall constitute but one and the same amendment. In any action or proceeding,
any photographic, photostatic, or other copy of this Amendment may be introduced into evidence without foundation. The parties
agree to accept a digital image (including but not limited to an image in the form of a PDF, JPEG, GIF file,
or other e-signature) of this Amendment, if applicable, reflecting the execution of one or both of the parties, as
a true and correct original.

 

		D.	Defined Terms. All words commencing with initial capital letters in this Amendment and defined
in the Lease shall have the same meaning in this Amendment as in the Lease, unless they are otherwise defined in this Amendment.

 

		E.	Authority. If Tenant is a corporation, limited liability company or partnership, or is comprised
of any of them, each individual executing this Amendment for the corporation, limited liability company or partnership represents
that he or she is duly authorized to execute and deliver this Amendment on behalf of such entity and that this Amendment is binding
upon such entity in accordance with its terms. Landlord represents that it is duly authorized to execute and deliver this Amendment
and that this Amendment is binding upon Landlord in accordance with its terms.

 

		F.	Brokers.  Article XVIII of the Lease is amended to provide that the parties recognize
the following parties as the brokers who negotiated this Amendment, and agree that Landlord shall be responsible for payment of
brokerage commissions to such brokers pursuant to its separate agreements with such brokers: Irvine Management Company (“Landlord’s
Broker”) is the agent of Landlord exclusively and Newmark Knight Frank (“Tenant’s Broker”) is
the agent of Tenant exclusively.  By the execution of this Amendment, each of Landlord and Tenant hereby acknowledge and confirm
(a) receipt of a copy of a Disclosure Regarding Real Estate Agency Relationship conforming to the requirements of California Civil
Code 2079.16, and (b) the agency relationships specified herein, which acknowledgement and confirmation is expressly made for the
benefit of Tenant’s Broker.  By the execution of this Amendment, Landlord and Tenant are executing the confirmation
of the agency relationships set forth herein. The warranty and indemnity provisions of Article XVIII of the Lease, as amended hereby,
shall be binding and enforceable in connection with the negotiation of this Amendment.

 

		G.	Execution of Amendment. Submission of this Amendment by Landlord is not an offer to enter
into this Amendment but rather is a solicitation for such an offer by Tenant. Landlord shall not be bound by this Amendment until
Landlord has executed and delivered the same to Tenant.

 

		H.	Nondisclosure of Terms. Landlord and Tenant acknowledge and agree that the terms of this
Amendment are confidential and constitute proprietary information of the parties. Disclosure of the terms could adversely affect
the ability of Landlord and Tenant to negotiate other leases and impair Landlord’s relationship with other tenants. Accordingly,
Landlord and Tenant each agree that it, and its partners, officers, directors, employees and attorneys, shall not intentionally
and voluntarily disclose the terms and conditions of the Lease, as amended, to any other tenant or apparent prospective tenant
of the Building or Project, either directly or indirectly, without the prior written consent of the other party, provided, however,
that Tenant may disclose the terms of this Amendment to prospective subtenants or assignees under the Lease, as amended, or pursuant
to any legal requirement, including Tenant’s obligations under the rules and regulations of the Securities and Exchange Commission.

 

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		I.	Certain Rights of Tenant. Notwithstanding the transactions effectuated pursuant to this
Agreement, Tenant’s right to signage under Section 5.2 of the Lease, as amended by the First Amendment shall not be affected,
and shall continue as though no reduction in the Premises had been effectuated hereby.

 

 

IN WITNESS WHEREOF,
Landlord and Tenant have duly executed this Amendment as of the day and year first above written.

 

 

	LANDLORD:	 	TENANT:
	 	 	 	 	 
	IRVINE EASTGATE OFFICE II LLC,	 	INTERCEPT PHARMACEUTICALS, INC.,
	a Delaware limited liability company	 	a Delaware corporation
	 	 	 	 	 
	 	 	 	 	 
	By	/s/ Steven M. Case  	 	By	/s/ Sandip Kapadia  
	Name:	Steven M. Case	 	Name:	Sandip Kapadia
	Title:	Executive Vice President Office Properties 	 	Title:	CFO
	 	 	 	 	 
	By	/s/ Kristopher J. Kopensky	 	By	/s/ Jerome Durso  
	Name:	Kristopher J. Kopensky	 	Name:	Jerome Durso
	Title:	Vice President, Operations Office Properties	 	Title:	COO

  

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