Document:

exv10w1

Exhibit 10.1

AMENDMENT NO. 1

TO

REGISTRATION RIGHTS AGREEMENT

     THIS AMENDMENT NO. 1 TO REGISTRATION RIGHTS AGREEMENT (this “Amendment”) is made as of
November 9, 2009, by and between Standard Parking Corporation, a Delaware corporation (the
“Company”), and each of the Holders identified on the signature pages hereto, and amends
that certain Registration Rights Agreement, dated as of June 2, 2004 (as amended, the
“Registration Agreement”), by and between the Company and Steamboat Industries LLC, as
assignor of its interests under the Registration Rights Agreement to the Holders. Each capitalized
term used but not otherwise defined herein shall have the meaning ascribed to such term in the
Registration Agreement.

          WHEREAS, the parties desire to amend certain provisions of the Registration Agreement as
specified herein.

          WHEREAS, pursuant to Section 2.9 of the Registration Agreement, the Registration
Agreement may be amended with the written consent of the Company and Holders holding, in the
aggregate, more than fifty percent (50%) of the Registrable Securities.

          WHEREAS, the Holders identified on the signature pages hereto hold more than fifty percent
(50%) of the Registrable Securities.

          NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows.

          1. Amendment.

          (a) Section 1.5(a) of the Registration Agreement is hereby amended by replacing (i)
the words “ninety (90) days” with the words “two years” and (ii) the language “90-day” with
“two-year”.

          2. Cooperation. The Company agrees that it will use its reasonable best efforts to
make available the executive officers of the Company to participate with the holders of Registrable
Securities and any underwriters in any “road shows” or other selling efforts that may be reasonably
requested by the holders in connection with the methods of distribution of the Registrable
Securities; provided that the holders of Registrable Securities shall reimburse the Company for all
out of pocket costs the Company incurs in connection with any underwritten offering (pro rata to
the Holders based upon the number of securities included in such underwritten offering); and
provided further that, not including the “road show” in connection with the offering contemplated
by the preliminary prospectus dated on or around November 2, 2009 (which out of pocket costs
incurred by the Company in attending the road show are deemed Selling Expenses), the Company will
not be required to use its reasonable best efforts to make the executive officers of the Company
available for more than two additional in person “road shows” and no such in person road show may
be scheduled at less than 6 month intervals The holders

 

 

of Registrable Securities and the Company
will work together to minimize the disruption to the Company in connection with any underwritten
offering, provided that the the final
determination for the timing of any such offering and road show will be subject to the
Company’s consent, not to be unreasonably withheld.

          3. Effectiveness and Ratification. All of the provisions of this Amendment shall be
effective as of the date hereof. Except as specifically provided for in this Amendment, the terms
of the Registration Agreement are hereby ratified and confirmed and remain in full force and
effect.

          4. Effect of Amendment. Whenever the Registration Agreement is referred to in the
Registration Agreement or in any other agreements, documents and instruments, such reference shall
be deemed to be to Registration Agreement as amended by this Amendment.

          5. Descriptive Headings. The descriptive headings of this Amendment are inserted for
convenience only and do not constitute a part of this Amendment.

          6. Counterparts. This Amendment may be executed in one or more counterparts
(including by means of telecopied signature pages) each of which shall be an original and all of
which taken together shall constitute one and the same agreement.

          7. Governing Law. All questions concerning the construction, validity and
interpretation of this Amendment shall be governed by and construed in accordance with the internal
laws of the State of New York, without giving effect to any choice of law or conflict of law
provision or rule (whether of the State of New York or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of New York.

*  *  *  *  *

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          IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 1 to Registration
Agreement as of the date first written above.

	 	 	 	 	 	 	 
	 	 	STANDARD PARKING CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Thomas L. Hagerman
 

Thomas L. Hagerman
	 	 
	 

	 	Its:
	 	Executive Vice President and Chief Operating Officer	 	 
	 
	 	 	 	 	 	 
	 	 	GSO SPECIAL SITUATIONS FUND LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GSO Capital Partners LP	 	 
	 

	 	Its:
	 	Investment Advisor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ George S. Fan	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	George S. Fan	 	 
	 

	 	Title:
	 	Chief Legal Officer	 	 
	 
	 	 	 	 	 	 
	 	 	GSO Capital Opportunities Fund LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GSO Capital Partners LP	 	 
	 

	 	Its:
	 	Investment Advisor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ George S. Fan	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	George S. Fan	 	 
	 

	 	Title:
	 	Chief Legal Officer	 	 
	 
	 	 	 	 	 	 
	 	 	GSO SPECIAL SITUATIONS OVERSEAS MASTER FUND, LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GSO Capital Partners LP	 	 
	 

	 	Its:
	 	Investment Advisor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ George S. Fan	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	George S. Fan	 	 
	 

	 	Title:
	 	Chief Legal Officer	 	 

 Signature Page to Amendment No1 to Registration Rights Agreement

 

 

	 	 	 	 	 	 	 
	 	 	GSO SPECIAL SITUATIONS OVERSEAS BENEFIT PLAN FUND,
LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GSO Capital Partners LP	 	 
	 

	 	Its:
	 	Investment Advisor	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ George S. Fan	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	George S. Fan	 	 
	 

	 	Title:
	 	Chief Legal Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CML VII, LLC	 	 
	 
	 	 	 	 	 	 
	 	 	By: Contrarian Funds, L.L.C., its sole member	 	 
	 
	 	 	 	 	 	 
	 	 	By Contrarian Capital Management, L.L.C., its manager	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Janice M. Stanton	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Janice M. Stanton	 	 
	 

	 	Title:
	 	Member	 	 

Signature Page to Amendment No1 to Registration Rights AgreementExhibit 10.01

Exhibit 10.1

Term Sheet

This term sheet (the “Term Sheet”) sets forth the material terms of a Settlement Agreement and a
License Agreement (the “Agreements”) between Endo Pharmaceuticals Inc. (“Endo”), on the one hand,
and Lectec Corporation (“LecTec”) (collectively the “Parties”), on the other hand, to resolve the
Parties’ patent infringement dispute.

The following principal terms and conditions are intended by the Parties to be included in the
Agreements:

1. Dismissal of Action. On the effective date of the Agreements or as soon as practicable
thereafter, the Parties will dismiss all claims and counterclaims between them currently pending in
LecTec Corporation v. Chattem, Inc. Endo Pharmaceuticals Inc., et al, Civil Action No. 5:08cv130
(DF), United States District Court for the Eastern District of Texas (the “Texas Litigation”) with
prejudice, with each party bearing its own costs and attorneys’ fees. LecTec agrees to withdraw
its motion for preliminary injunction against Endo as of today.

2. Settlement and License Agreement. The Settlement and License Agreement will include
forms of all stipulations necessary to accomplish their intent.

3. Releases. The Parties, on behalf of themselves and their Affiliates, would release each
other from any and all claims, liabilities, defenses and counterclaims in the Texas Action, with
respect to any cause of action which are or could have been asserted therein, and any and all
claims, liabilities, defenses, or counterclaims.

4. License. The parties will enter into a License Agreement, pursuant to which LecTec
would provide a license to Endo incorporating the following terms:

(a) The licensed patents shall be U.S. Patent Nos. 5,536,263 and 5,741,510, and any
continuations, continuations-in-part or divisionals thereof and any U.S. patents resulting from the
reissue or reexamination of such applications or claiming common priority, and any foreign
counterparts thereto (collectively “the Licensed Patents”)

(b) LecTec will grant an exclusive license to Endo for the Licensed Patents in the field of
use of prescription pain medications (the “Field”).

(c) Endo shall have the right to make, use, sell, offer to sell, import, and have made
products within the scope of the Licensed Patents in the Field and shall be permitted to grant
sublicenses within the Field.

(d) The term of the license shall be from the execution date of the Agreements through
expiration of the last of the Licensed Patents.

(e) Endo shall have the right to bring suit against third parties infringing the Licensed
Patent within the Field and control such litigation, and LecTec shall cooperate at Endo’s expense
in any such litigation.

 

 

 

5. Covenant not to Sue. LecTec covenants not to sue Endo relating to any of Endo’s
existing products with respect to any other patents, applications or continuations,
continuations-in-part or divisionals thereof and any U.S. patents resulting from the reissue or
reexamination of such applications or claiming common priority with any such patents or
applications and such covenant shall run with any successor in ownership to such patents.

6. Payment. Endo shall pay to LecTec the sum of $23,000,000 on or before December 31,
2009.

7. Patent Listing. If requested by Endo, LecTec shall cooperate in effecting the listing
of the Patents in Suit on the FDA’s Orange Book.

8. Confidentiality. Neither Party nor any of its respective Affiliates or representatives
would make any press release or public announcement concerning the existence of the transactions
contemplated hereby without the prior written approval of the other Party. This Agreement would
remain strictly confidential and neither the existence of this Agreement nor its contents or the
subject matter hereof will be directly or indirectly discussed with or disclosed to any other
party, other than those employees, officers, directors and advisors of each Party who need to know
such information for the sole purpose of effecting the intent of the Agreements and who agree to
keep such information confidential and who are provided with a copy of this Agreement and agree to
be bound by the terms of this section to the same extent as if they were parties hereto.
Additionally, each Party would protect the confidentiality of information exchanged during the
course of the negotiation of the transaction contemplated by this Term Sheet and neither Party
shall disclose to any third party the confidential information of the other Party received in
connection with the negotiation of this transaction. The foregoing notwithstanding, each Party
would be free to make such disclosures as may be reasonably necessary to comply with all applicable
laws and regulations to which it may be subject, and a form of press release for each party will be
attached to the Agreement.

9. Governing Law. The Settlement and License Agreement would be governed by and
interpreted and enforced with, the laws in force in the Commonwealth of Pennsylvania without regard
to its conflict of laws provisions.

10. Assignment. None of the Parties would be able to assign their rights or obligations
without the express prior written consent of the other Parties hereto. The Agreement would be
assignable in connection with the sale of all or substantially all of the assets of the business to
which the Agreement relates, provided the Party whose assets are being sold notifies the other
Party of any such assignment of the Agreement in writing (including the identity of the assignee)
and provided the purchaser of those assets provides written confirmation that it agrees to assume
all obligations hereunder.

 

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11. Expenses. Each Party would pay its own expenses incurred in connection with its
negotiation of the Agreement the Texas Litigation and the consummation of the transactions
contemplated hereby.

	 	 	 
	/s/ Guy Donatiello
	 	 
	 

Guy Donatiello, Vice President of Intellectual Property

	 	 
	Endo Pharmaceuticals, Inc.
	 	 
	Dated: November 6, 2009
	 	 
	 
	 	 
	/s/ Judd Berlin
	 	 
	 

Judd Berlin, Chief Executive Officer

	 	 
	LecTec Corporation
	 	 
	Dated: November 6, 2009
	 	 

 

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