Document:

Exhibit
10.1

NEOPHARM,
INC.

Term
Sheet

for

Ronald
E. Pauli

 

	
  Position

  	
  Executive Vice President, Chief Financial Officer*
  and Secretary*

  
	
   

  	
   

  
	
  Term

  	
  Employment at will.

  
	
   

  	
   

  
	
  Base Salary

  	
  $240,000 per year (“Base Salary”)

  
	
   

  	
   

  
	
  Sign-On Bonus

  	
  $50,000

  
	
   

  	
   

  
	
  Annual Bonus

  	
  Eligibility for:

  
	
   

  	
   

  
	
   

  	
   

  	
     •   

  	
  Target Bonus up to a maximum of 30% of Base Salary
  upon attaining agreed upon Milestones.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
     •   

  	
  Overachievement Bonus (in lieu of Target Bonus) up
  to a maximum of 50% of Base Salary.

  
	
   

  	
   

  
	
  Stock Options

  	
  Options to acquire 75,000 shares of common stock at
  the fair market value on the date of grant, with vesting in four equal
  installments on each of the first four anniversaries of the date of grant, or
  upon a change of control as defined in the 2006 Equity Incentive Plan (a
  “Change of Control”).

  
	
   

  	
   

  
	
  Benefits

  	
     •   

  	
  4 weeks vacation 

  
	
   

  	
   

  	
   

  
	
   

  	
     •   

  	
  $500/month car allowance 

  
	
   

  	
   

  	
   

  
	
   

  	
     •   

  	
  Participation in 401(k) Plan 

  
	
   

  	
   

  	
   

  
	
   

  	
     •   

  	
  Life and Health insurance under current Company
  policies 

  
	
   

  	
   

  	
   

  
	
   

  	
     •   

  	
  Disability coverage on same basis as currently
  provided to Company’s senior officers 

  
	
   

  	
   

  	
   

  
	
   

  	
     •   

  	
  All other standard benefits

  
	
   

  	
   

  	
   

  
	
  Severance Benefits

  	
  Upon termination of employment by the Company,
  without cause, at any time after the six (6) month anniversary of hire, or
  within twelve (12) months after a Change of Control, Base Salary will be
  continued for six (6) months.

  
	
   

  	
   

  
	
  Restrictive Covenants

  	
  Employee agrees to execute the Company’s standard
  employee Confidentiality and Non-Compete Agreement.

  

 

Acknowledged and agreed to

This 4th day of August,
2006

/s/Ronald E. Pauli

Ronald E. Pauli

*Upon resignation of
current CFO and Secretary becoming effectiveExhibit 10.5(f)

AMENDMENT NO. 5

TO

MASTER REPURCHASE
AGREEMENT

THIS AMENDMENT NO. 5, made as of May 10, 2006 (“Amendment
No. 5”), by and among BEAR STEARNS MORTGAGE CAPITAL CORPORATION (the “Buyer”)
and AAMES CAPITAL CORPORATION (“ACC”), AAMES INVESTMENT CORPORATION (“AIC”) and
AAMES FUNDING CORPORATION (“AFC”, and together with ACC and AIC, the “Sellers”).

R E C I T A L S

WHEREAS, Buyer and the Sellers have previously entered
into a Master Repurchase Agreement dated as of August 5, 2004, as amended by
Amendment No. 1 dated as of March 18, 2005, Amendment No. 2 dated as of June
20, 2005, Amendment No. 3 dated as of October 31, 2005 and Amendment No. 4
dated as of March 1, 2006 (collectively, the “Agreement”); and

WHEREAS, Buyer and the Sellers desire to modify the
terms of the Agreement;

NOW, THEREFORE, in consideration of the mutual
promises and covenants hereinafter set forth, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:

Section 1.  Definitions.  Capitalized terms used herein and not
otherwise defined shall have the meanings assigned in the Agreement.

Section 2.  Financial Covenants.  Effective as March 30, 2006, Section
10(d)(xviii) of the Agreement is hereby deleted in its entirety and replaced by
the following:

 (xviii)     for
any two consecutive fiscal quarters of AIC, commencing with respect to the two
consecutive fiscal quarters ending on September 30, 2006, AIC shall not show a
loss after aggregating the profits and losses of AIC for the subject fiscal
quarters (all determined in accordance with GAAP).

Section 3.  Joint and Several Liability of Sellers.  AIC hereby acknowledges that it is jointly
and severally liable for the obligations of each Seller under the Agreement as
set forth in Paragraph 19 of the Agreement.

Section 4.  Expenses.  Each party hereto shall pay its own expenses
in connection with this Amendment No. 5.

Section 5.  Controlling Law.  This Amendment No. 5 shall be governed and
construed in accordance with the laws of the State of New York applicable to
agreements made and entirely performed therein.

 

Section 6.  Interpretation.  The provisions of the Agreement shall be read
so as to give effect to the provisions of this Amendment No. 5.

Section 7.  Counterparts.  This Amendment No. 5 may be executed in any
number of counterparts, each of which counterparts shall be deemed to be an
original, and such counterparts shall constitute but one and the same
instrument.

Section 8.  Ratification and Confirmation.  As amended by this Amendment No. 5, the
Agreement is hereby in all respects ratified and confirmed, and the Agreement
as amended by this Amendment No. 5 shall be read, taken and construed as one
and the same instrument.

[Remainder of Page
Blank – Signatures Follow]

 2
 

 

IN WITNESS WHEREOF, Buyer and each of the Sellers have
caused their names to be signed hereto by their respective officers thereunto
duly authorized, all as of the date first above written.

	
   

  	
  BEAR STEARNS MORTGAGE
  CAPITAL

  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AAMES CAPITAL
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AAMES INVESTMENT
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AAMES FUNDING
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
   

  
					

 

 3Exhibit 10.8(d)

AMENDMENT NO. 3

AMENDMENT NO. 3, dated as
of May 9, 2006 (this “Amendment”) to that certain Master Repurchase
Agreement dated as of December 2, 2005, (as amended, restated, supplemented or
otherwise modified prior to the date hereof, the “Existing Repurchase
Agreement”; as modified hereby and as further amended, restated,
supplemented or otherwise modified and in effect from time to time, the “Repurchase
Agreement”) among AAMES CAPITAL CORPORATION, a California corporation (“Aames
Capital”), AAMES FUNDING CORPORATION, a California corporation (“Aames
Funding”), AAMES INVESTMENT CORPORATION, a Maryland corporation (“Aames
Investment”, together with Aames Capital and Aames Funding, collectively,
the “Sellers”, each a “Seller”) and MORGAN STANLEY BANK (the “Buyer”).  Capitalized terms used but not otherwise
defined herein shall have the meanings given to them in the Existing Repurchase
Agreement.  Unless otherwise stated, all
article and section references used herein refer to the corresponding parts of
the Existing Repurchase Agreement.

RECITALS

The Sellers and the Buyer are parties to the Existing
Repurchase Agreement.

The Sellers and the Buyer have agreed, subject to the
terms and conditions of this Amendment, that the Existing Repurchase Agreement
shall be modified as set forth in this Amendment.

Therefore, in consideration of the premises and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Sellers and the Buyer agree as follows:

SECTION 1.  Amendment.  Effective as of March 31, 2006 (the “Amendment
Effective Date”), the financial covenant set forth in Section 7.14(d), is
hereby deleted in its entirety and the following new covenant is inserted in
lieu thereof:

“(d)         Maintenance of Profitability.  Aames Investment shall not permit its Net
Income before tax, generated during the fiscal quarter ended June 30, 2006, and
thereafter, generated over any two consecutive fiscal quarters, measured on the
last day of each fiscal quarter, to be less than $1.00.”

SECTION
2.  Conditions
Precedent.  This Amendment and its
provisions shall become effective as of the Amendment Effective Date, provided
that all of the following conditions precedent shall have been satisfied:

(a)  Delivered Documents.  On or before the Amendment Effective Date,
the Buyer shall have received all of the following documents, each of which
shall be satisfactory to the Buyer in form and substance:

 

(i)            Amendment.  This Amendment, executed and delivered by a
duly authorized officer of each of the Sellers and the Buyer; and

(ii)           Other
Documents.  Such other documents as
the Buyer or counsel to the Buyer may reasonably request.

(b)  No Default.  On the Amendment Effective Date,
(i) each Seller shall be in compliance with all of the terms and
provisions set forth in the Existing Repurchase Agreement and the other
Repurchase Documents on its part to be observed or performed, (ii) the
representations and warranties made and restated by each Seller pursuant to
Section 3 of this Amendment shall be true and complete on and as of such
date with the same force and effect as if made on and as of such date, and
(iii) no Default or Event of Default shall have occurred and be continuing
on such date.

SECTION 3.  Representations
and Warranties.  Each Seller hereby
represents and warrants to the Buyer, as of the date hereof and as of the
Amendment Effective Date, that it is in compliance with all of the terms and
provisions set forth in the Repurchase Documents on its part to be observed or
performed and that no Default or Event of Default has occurred or is continuing
and each Seller hereby confirms and reaffirms the representations and
warranties contained in Section 6 of the Repurchase Agreement.

SECTION 4.  Limited Effect.  Except as expressly modified by this
Amendment, the Existing Repurchase Agreement will continue to be, and will
remain, in full force and effect in accordance with its terms; provided,
that upon the Amendment Effective Date, each reference therein and herein to
the “Repurchase Documents” shall be deemed to include this Amendment and to be
a reference to the Existing Repurchase Agreement as modified by this Amendment.

SECTION 4.  Counterparts.  This Amendment may be executed by each of the
parties hereto on any number of separate counterparts, each of which shall be
an original and all of which taken together shall constitute one and the same
instrument.  Delivery of an executed
counterpart of a signature page of this Amendment in Portable Document Format
(PDF) or by facsimile transmission shall be effective as delivery of a manually
executed original counterpart of this Amendment.

SECTION
5.  GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY,
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

[SIGNATURE PAGE
FOLLOWS]

 2

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered as of the day and year first above written.

	
   

  	
  SELLERS

  
	
   

  	
   

  
	
   

  	
  AAMES
  CAPITAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  AAMES
  FUNDING CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  AAMES
  INVESTMENT CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  BUYER

  
	
   

  	
   

  
	
   

  	
  MORGAN
  STANLEY BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

 [Amendment No. 3 to Aames Repurchase Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00108-of-00352.parquet"}]]