Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT TO CREDIT AGREEMENT 

This FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is made and entered into as of September 30, 2014 by and
among UNILIFE MEDICAL SOLUTIONS, INC., a Delaware corporation (the “Borrower”), the other Creditor Obligors party hereto and ROS ACQUISITION OFFSHORE LP, a Cayman Islands exempted limited partnership (the “Lender”).

 WHEREAS, the Borrower and the Lender are party to that certain Credit Agreement, dated as of March 12, 2014 (as amended from
time to time, the “Credit Agreement”), pursuant to which the Lender has extended credit to the Borrower on the terms set forth therein; 

WHEREAS, the Borrower has requested that the Lender amend the Credit Agreement, as more fully described herein; and 

WHEREAS, the Lender is willing to agree to such amendment, but only upon the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Definitions; Loan Document. Capitalized
terms used herein without definition shall have the meanings assigned to such terms in the Credit Agreement. This Amendment shall constitute a Loan Document for all purposes of the Credit Agreement and the other Loan Documents. Each reference to
“hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Credit Agreement shall, after
this Amendment becomes effective, refer to the Credit Agreement as amended hereby. 
 2. Amendments. 

(a) The definition of “Delayed Draw Closing Date” in Section 1.1 of the Credit Agreement is hereby amended and restated in its
entirety as follows : 
 “Delayed Draw Closing Date” means (a) September 30, 2014 and (b) a
date following the execution and delivery of the New Sanofi Agreement but on or prior to December 15, 2014 when the applicable conditions set forth in Section 5.1 are satisfied (or waived in writing by the Lender). 

(b) Section 1.1 of the Credit Agreement is hereby amended by adding the following definition in alphabetical order: 

“New Sanofi Agreement” means a definitive master services and supply agreement between Sanofi Winthrop
Industrie and the Borrower relating to the manufacture and supply of wearable injector devices. 

 (c) The definition of “Repayment Premium” in Section 1.1 of the Credit Agreement
is hereby amended and restated in its entirety as follows : 
 “Repayment Premium” means a premium of 10.0%
of the principal amount of any prepayment or repayment of the Borrower on any Loan. 
 (d) Section 2.4 of the Credit Agreement is
hereby amended and restated in its entirety as follows: 
 SECTION 2.4 Reduction of the Commitment Amounts. The
Initial Commitment Amount shall automatically and permanently be reduced to zero on the Closing Date. The Delayed Draw Commitment Amount shall automatically and permanently be reduced (i) to $10,000,000 upon the funding of the Delayed Draw Loan
on September 30, 2014 and (ii) to zero at the close of business on December 15, 2014. 
 (e) Section 5.1 of the Credit
Agreement is hereby amended by adding the following sentence at the end thereof: 
 The obligation of the Lender to make the
Delayed Draw Loan on the Delayed Draw Closing Date referred to in clause (b) of the definition thereof shall be subject to the receipt of evidence that the Borrower and Sanofi Winthrop Industrie have entered into the New Sanofi Agreement in
form and substance reasonably satisfactory to the Lender (or waiver in writing by the Lender). 
 (f) Section 8.4(a) of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
   (a) Minimum Revenue Base. The
Revenue Base for each calendar year set forth below shall not be less than the amount set forth below for such calendar year: 
  

			
	 Calendar Year Ended
	  	Minimum Revenue Base
	 December 31, 2014
	  	$20,000,000
	 December 31, 2015
	  	$54,100,000
	 December 31, 2016
	  	$67,400,000
	 December 31, 2017
	  	$78,400,000
	 December 31, 2018
	  	$84,000,000
	 December 31, 2019
	  	$84,000,000

 (g) Section 8.4 of the Credit Agreement is hereby amended by adding the following section as
Section 8.4(c): 
   (c) Minimum Revenue Base (June 2015). The Revenue Base for the six months ending
June 30, 2015 shall not be less than $20,000,000. 

  
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 3. Conditions to Effectiveness of Amendment. This Amendment shall become effective upon
receipt (i) by the Lender of a Secretary’s Certificate with respect to each Credit Obligor, in substantially the form delivered on the Closing Date, duly executed and delivered by the signatories thereto, (ii) by the Lender of a
counterpart signature to this Amendment duly executed and delivered by the Borrower and each of the other Credit Obligors, and (iii) by the Lender or its counsel of reimbursement for all fees and out-of-pocket expenses incurred by the Lender in
connection with this Amendment and all other like expenses remaining unpaid as of the date hereof. 
 4. Expenses. The Borrower
agrees to pay on demand all expenses of the Lender (including, without limitation, the fees and out-of-pocket expenses of Covington & Burling LLP, counsel to the Lender, and of local counsel, if any, who may be retained by or on behalf of
the Lender) incurred in connection with the negotiation, preparation, execution and delivery of this Amendment and all other expenses of the Lender remaining unpaid as of the date hereof. 

5. Representations and Warranties. The Credit Obligors represent and warrant to the Lender as follows: 

(a) After giving effect to this Amendment, the representations and warranties of the Borrower and the Guarantors contained in the Credit
Agreement or any other Loan Document shall, (i) with respect to representations and warranties that contain a materiality qualification, be true and correct in all respects on and as of the date hereof, and (ii) with respect to
representations and warranties that do not contain a materiality qualification, be true and correct in all material respects on and as of the date hereof, and except that the representations and warranties limited by their terms to a specific date
shall be true and correct as of such date. 
 (b) After giving effect to this Amendment, no Default or Event of Default has occurred or is
continuing. 
 (c) (i) Each Credit Obligor has taken all necessary action to authorize the execution, delivery and performance of this
Amendment; (ii) this Amendment has been duly executed and delivered by the Credit Obligors and constitutes each of the Credit Obligors’ legal, valid and binding obligations, enforceable in accordance with its terms (except, in any case, as
such enforceability may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally and by principles of equity), and (iii) no authorization or other action by, and no notice to or
filing with, any Governmental Authority or other Person is required for the due execution, delivery or performance by any Credit Obligor of this Amendment. 

6. No Implied Amendment or Waiver. Except as expressly set forth in this Amendment, this Amendment shall not, by implication or
otherwise, limit, impair, constitute a waiver of or otherwise affect any rights or remedies of the Lender under the Credit Agreement or the other Loan Documents, or alter, modify, amend or in any way affect any of the terms, obligations or covenants
contained in the Credit Agreement or the other Loan Documents, all of which shall continue in full force and effect. Nothing in this Amendment shall be construed to imply any willingness on the part of the Lender to agree to or grant any similar or
future amendment, consent or waiver of any of the terms and conditions of the Credit Agreement or the other Loan Documents. 

  
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 7. Reaffirmation of Security Interests. The Credit Obligors (i) affirm that each of
the security interests and liens granted in or pursuant to the Loan Documents are valid and subsisting and (ii) agree that this Amendment shall in no manner impair or otherwise adversely affect any of the security interests and liens granted in
or pursuant to the Loan Documents. 
 8. Reaffirmation of Guarantee. Each Guarantor (a) acknowledges and consents to all of the
terms and conditions of this Amendment, (b) affirms all of its obligations under the Loan Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge the
Guarantor’s obligations under the Loan Documents. 
 9. Waiver and Release. TO INDUCE THE LENDER TO AGREE TO THE TERMS OF THIS
AMENDMENT, EACH CREDIT OBLIGOR REPRESENTS AND WARRANTS THAT AS OF THE DATE HEREOF THERE ARE NO CLAIMS OR OFFSETS AGAINST OR RIGHTS OF RECOUPMENT WITH RESPECT TO OR DEFENSES OR COUNTERCLAIMS TO ITS OBLIGATIONS UNDER THE LOAN DOCUMENTS AND IN
ACCORDANCE THEREWITH IT: 
 (a) WAIVES ANY AND ALL SUCH CLAIMS, OFFSETS, RIGHTS OF RECOUPMENT, DEFENSES OR COUNTERCLAIMS, WHETHER KNOWN OR
UNKNOWN, ARISING PRIOR TO THE DATE HEREOF; AND 
 (b) RELEASES AND DISCHARGES THE LENDER, ITS AFFILIATES AND ITS AND THEIR OFFICERS,
DIRECTORS, EMPLOYEES, AGENTS, SHAREHOLDERS AND ATTORNEYS (COLLECTIVELY THE “RELEASED PARTIES”) FROM ANY AND ALL OBLIGATIONS, INDEBTEDNESS, LIABILITIES, CLAIMS, RIGHTS, CAUSES OF ACTION OR DEMANDS WHATSOEVER, WHETHER KNOWN OR
UNKNOWN, SUSPECTED OR UNSUSPECTED, IN LAW OR EQUITY, WHICH THE BORROWER EVER HAD, NOW HAS, CLAIMS TO HAVE OR MAY HAVE AGAINST ANY RELEASED PARTY ARISING PRIOR TO THE DATE HEREOF AND FROM OR IN CONNECTION WITH THE LOAN DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED THEREBY. 
 10. Counterparts; Governing Law. This Amendment may be executed in any number of counterparts and by
different parties hereto on separate counterparts, each of such when so executed and delivered shall be an original, but all of such counterparts shall together constitute but one and the same agreement. Delivery of an executed counterpart of a
signature page of this Amendment by fax transmission or other electronic mail transmission (e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment. THIS AMENDMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 

  
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 [Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized as of the day and year first above written. 
  

									
	UNILIFE MEDICAL SOLUTIONS, INC.	 		 	UNILIFE CORPORATION
					
	By:	 	/s/ John Ryan	 		 	By:	 	/s/ John Ryan
	Name:	 	John Ryan	 		 	Name:	 	John Ryan
	Title:	 	 Senior Vice President, General
 Counsel and
Secretary
	 		 	Title:	 	 Senior Vice President, General
 Counsel and
Secretary

			
		 		 	UNILIFE CROSS FARM LLC
					
		 		 		 	By:	 	/s/ John Ryan
		 		 		 	Name:	 	John Ryan
		 		 		 	Title:	 	 Senior Vice President, General
 Counsel and
Secretary

  

			
	Executed by Unilife Medical Solutions Pty
Limited in accordance with Section 127 of the
Corporations Act 2001	  	
		
	 /s/ Alan Shortall

Signature of director
	  	 /s/ John Ryan

Signature of director/company secretary
(Please delete as applicable)

		
	 Alan Shortall

Name of director (print)
	  	 John Ryan

Name of director/company secretary (print)

		
	Executed by Unitract Syringe Pty Ltd in
accordance with Section 127 of the
Corporations Act 2001	  	
		
	 /s/ Alan Shortall

Signature of director
	  	 /s/ John Ryan

Signature of director/company secretary
(Please delete as applicable)

		
	 Alan Shortall

Name of director (print)
	  	 John Ryan

Name of director/company secretary (print)

 Signature Page to First Amendment to Credit Agreement 

			
	ROS ACQUISITION OFFSHORE LP,
    as the Lender
	By OrbiMed Advisors LLC, its investment
manager

  

			
	By:	 	 /s/ Samuel D. Isaly

	Name:	 	Samuel D. Isaly
	Title:	 	Managing Member

 Signature Page to First Amendment to Credit AgreementEX-10.2

 Exhibit 10.2 

FIRST AMENDMENT TO ROYALTY AGREEMENT 

This FIRST AMENDMENT TO ROYALTY AGREEMENT (this “Amendment”) is made and entered into as of September 30, 2014 by and
among UNILIFE MEDICAL SOLUTIONS, INC., a Delaware corporation (the “Unilife”) and ROYALTY OPPORTUNITIES S.À R.L, a Luxembourg société à responsabilité limitée (together with its Affiliates,
successors, transferees and assignees, “ROS”). 
 WHEREAS, the Unilife and ROS are party to that certain Royalty
Agreement, dated as of March 12, 2014 (as amended from time to time, the “Royalty Agreement”), pursuant to which Unilife granted to ROS a royalty on the terms set forth therein; 

WHEREAS, Unilife and ROS Acquisition Offshore LP, a Cayman Islands exempted limited partnership (the “Lender”) are
party to that certain Credit Agreement, dated as of March 12, 2014 (as amended from time to time, the “Credit Agreement”), pursuant to which the Lender has extended credit to Unilife on the terms set forth therein; 

WHEREAS, Unilife has requested that ROS amend the Royalty Agreement, as more fully described herein; and 

WHEREAS, ROS is willing to agree to such amendment, but only upon the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Definitions; Loan Document. Capitalized
terms used herein without definition shall have the meanings assigned to such terms in the Royalty Agreement and, to the extent not defined therein, in the Credit Agreement. This Amendment shall constitute a Loan Document for all purposes of the
Credit Agreement and the other Loan Documents. Each reference to “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other
similar reference contained in the Royalty Agreement shall, after this Amendment becomes effective, refer to the Royalty Agreement as amended hereby. 

2. Amendments. 
 (a) The
chart in the definition of “Purchase Price” in Section 1.1 of the Royalty Agreement is hereby amended and restated in its entirety as follows: 

			
	 Applicable Period
	  	Applicable Amount
	 On or before the 1st anniversary of the Closing Date
	  	$9,750,000
	 After the 1st anniversary of the Closing Date and on or before the 2nd anniversary of the Closing Date
	  	$13,125,000
	 After the 2nd anniversary of the Closing Date and on or before the 3rd anniversary of the Closing Date
	  	$18,125,000
	 After the 3rd anniversary of the Closing Date and on or before the 4th anniversary of the Closing Date
	  	$23,125,000
	 Any time after the 4th anniversary of the Closing Date
	  	$26,250,000

 (b) Section 2.1 (a) of the Royalty Agreement is hereby amended and restated in its entirety as
follows: 
   (a) Unilife shall pay to ROS, in respect of each Fiscal Year (or portion of a Fiscal Year, in the
case of the first Fiscal Year and last Fiscal Year of the Royalty Term) during the Royalty Term, a royalty amount equal to the sum of (i) 3.875% of the aggregate Net Sales during such Fiscal Year (or portion of a Fiscal Year, as the case may
be) up to $50,000,000 of such Net Sales, plus (ii) 1.500% of the aggregate Net Sales during such Fiscal Year (or portion of a Fiscal Year, as the case may be) in excess of $50,000,000 and up to and including $100,000,000, plus (iii) 0.375%
of the aggregate Net Sales during such Fiscal Year (or portion of a Fiscal Year, as the case may be) in excess of $100,000,000. 
 3.
Conditions to Effectiveness of Amendment. This Amendment shall become effective upon receipt (i) by ROS of a counterpart signature to this Amendment duly executed and delivered by Unilife, and (ii) by ROS or its counsel of
reimbursement for all fees and out-of-pocket expenses incurred by ROS in connection with this Amendment and all other like expenses remaining unpaid as of the date hereof. 

4. Expenses. Unilife agrees to pay on demand all expenses of ROS (including, without limitation, the fees and out-of-pocket expenses of
Covington & Burling LLP, counsel to ROS, and of local counsel, if any, who may be retained by or on behalf of ROS) incurred in connection with the negotiation, preparation, execution and delivery of this Amendment and all other expenses of
ROS remaining unpaid as of the date hereof. 
 5. Representations and Warranties. Unilife represents and warrants to ROS as follows:

  
 -2- 

 (a) After giving effect to this Amendment, the representations and warranties of Unilife
contained in the Royalty Agreement shall, (i) with respect to representations and warranties that contain a materiality qualification, be true and correct in all respects on and as of the date hereof, and (ii) with respect to
representations and warranties that do not contain a materiality qualification, be true and correct in all material respects on and as of the date hereof, and except that the representations and warranties limited by their terms to a specific date
shall be true and correct as of such date. 
 (b) After giving effect to this Amendment, no Royalty Event of Default has occurred or is
continuing. 
 (c) (i) Unilife has taken all necessary action to authorize the execution, delivery and performance of this Amendment;
(ii) this Amendment has been duly executed and delivered by Unilife and constitutes Unilife’s legal, valid and binding obligation, enforceable in accordance with its terms (except, in any case, as such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally and by principles of equity), and (iii) no authorization or other action by, and no notice to or filing with, any Governmental
Authority or other Person is required for the due execution, delivery or performance by Unilife of this Amendment. 
 6. No Implied
Amendment or Waiver. Except as expressly set forth in this Amendment, this Amendment shall not, by implication or otherwise, limit, impair, constitute a waiver of or otherwise affect any rights or remedies of ROS under the Royalty Agreement or
the other Loan Documents, or alter, modify, amend or in any way affect any of the terms, obligations or covenants contained in the Royalty Agreement or the other Loan Documents, all of which shall continue in full force and effect. Nothing in this
Amendment shall be construed to imply any willingness on the part of ROS to agree to or grant any similar or future amendment, consent or waiver of any of the terms and conditions of the Royalty Agreement or the other Loan Documents. 

7. Reaffirmation of Security Interests. The Credit Obligors (i) affirm that each of the security interests and liens granted in or
pursuant to the Loan Documents are valid and subsisting and (ii) agree that this Amendment shall in no manner impair or otherwise adversely affect any of the security interests and liens granted in or pursuant to the Loan Documents. 

8. Reaffirmation of Guarantee. Each Guarantor (a) acknowledges and consents to all of the terms and conditions of this Amendment,
(b) affirms all of its obligations under the Loan Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge the Guarantor’s obligations under the Loan
Documents. 
 9. Waiver and Release. TO INDUCE ROS TO AGREE TO THE TERMS OF THIS AMENDMENT, UNILIFE REPRESENTS AND WARRANTS THAT AS
OF THE DATE HEREOF THERE ARE NO CLAIMS OR OFFSETS AGAINST OR RIGHTS OF RECOUPMENT WITH RESPECT TO OR DEFENSES OR COUNTERCLAIMS TO ITS 

  
 -3- 

 
OBLIGATIONS UNDER THE LOAN DOCUMENTS AND IN ACCORDANCE THEREWITH IT: 
 (a) WAIVES
ANY AND ALL SUCH CLAIMS, OFFSETS, RIGHTS OF RECOUPMENT, DEFENSES OR COUNTERCLAIMS, WHETHER KNOWN OR UNKNOWN, ARISING PRIOR TO THE DATE HEREOF; AND 

(b) RELEASES AND DISCHARGES ROS, ITS AFFILIATES AND ITS AND THEIR OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, SHAREHOLDERS AND ATTORNEYS
(COLLECTIVELY THE “RELEASED PARTIES”) FROM ANY AND ALL OBLIGATIONS, INDEBTEDNESS, LIABILITIES, CLAIMS, RIGHTS, CAUSES OF ACTION OR DEMANDS WHATSOEVER, WHETHER KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED, IN LAW OR EQUITY, WHICH
UNILIFE EVER HAD, NOW HAS, CLAIMS TO HAVE OR MAY HAVE AGAINST ANY RELEASED PARTY ARISING PRIOR TO THE DATE HEREOF AND FROM OR IN CONNECTION WITH THE LOAN DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED THEREBY. 

10. Counterparts; Governing Law. This Amendment may be executed in any number of counterparts and by different parties hereto on
separate counterparts, each of such when so executed and delivered shall be an original, but all of such counterparts shall together constitute but one and the same agreement. Delivery of an executed counterpart of a signature page of this Amendment
by fax transmission or other electronic mail transmission (e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 

[Remainder of Page Intentionally Left Blank] 

  
 -4- 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized as of the day and year first above written. 
  

			
	UNILIFE MEDICAL SOLUTIONS, INC.
		
	By:	 	 /s/ John Ryan

	Name:	 	John Ryan
	Title:	 	Senior Vice President, General
Counsel and Secretary
	
	ROYALTY OPPORTUNITIES S.À R.L
By OrbiMed Advisors LLC, its investment
manager
		
	By:	 	 /s/ Samuel D. Isaly

	Name:	 	Samuel D. Isaly
	Title:	 	Managing Member

 Signature Page to First Amendment to Royalty Agreement 

									
	UNILIFE CROSS FARM LLC	 		 	UNILIFE CORPORATION
					
	By:	 	/s/ John Ryan	 		 	By:	 	/s/ John Ryan
	Name:	 	John Ryan	 		 	Name:	 	John Ryan
	Title:	 	 Senior Vice President, General
 Counsel and
Secretary
	 		 	Title:	 	 Senior Vice President, General
 Counsel and
Secretary

  

			
	Executed by Unilife Medical Solutions Pty
Limited in accordance with Section 127 of the
Corporations Act 2001	  	
		
	 /s/ Alan Shortall

Signature of director
	  	 /s/ John Ryan

Signature of director/company secretary
(Please delete as applicable)

		
	 Alan Shortall

Name of director (print)
	  	 John Ryan

Name of director/company secretary (print)

		
	Executed by Unitract Syringe Pty Ltd in
accordance with Section 127 of the
Corporations Act 2001	  	
		
	 /s/ Alan Shortall

Signature of director
	  	 /s/ John Ryan

Signature of director/company secretary
(Please delete as applicable)

		
	 Alan Shortall

Name of director (print)
	  	 John Ryan

Name of director/company secretary (print)

 Signature Page to First Amendment to Royalty Agreement

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