Document:

Exhibit 10.45

 

AMENDMENT NO. 2 TO

COMMON STOCK PURCHASE AGREEMENT

 

This Amendment No. 2 (the “Amendment”) is entered into this 2nd day of May 2011 (“Amendment Effective Date”) by and between Azimuth Opportunity Ltd., an international business company incorporated under the laws of the British Virgin Islands (the “Investor”), and Affymax, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”) and amends that certain Common Stock Purchase Agreement (the “Agreement”) between the Investor and the Company dated as of September 25, 2009, as amended. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Agreement.

 

RECITALS

 

WHEREAS,  Section 4.18(i) of the Agreement provides that the Registration Statement was declared effective by order of the Commission on May 2, 2008, the definition of “Base Prospectus” in the Agreement refers to the Company’s prospectus, dated September 25, 2009, and the definition of “Registration Statement” refers to the registration statement on Form S-3, Commission File Number 333-149772 (the “2008 Registration Statement”);

 

WHEREAS,  the Company has sold an aggregate of $5,000,000.00 of Shares under the Agreement, and may, pursuant to the terms of the Agreement, sell to Investor up to an aggregate of an additional $55,000,000 of Shares under the Agreement;

 

WHEREAS,  the 2008 Registration Statement will expire on May 2, 2011 in accordance with the rules and regulations of the Securities and Exchange Commission (the “Commission”);

 

WHEREAS, on October 2, 2009, the Company filed a universal shelf registration statement on Form S-3, Commission File Number 333-162275, to register the offer and sale of shares of Common Stock of the Company, which registration statement was declared effective by order of the Commission on October 22, 2009 (the “2009 Registration Statement”), and on March 4, 2010, the Company filed a universal shelf registration statement on Form S-3, Commission File Number 333-165220, to register the offer and sale of shares of Common Stock of the Company, which registration statement was declared effective by order of the Commission on April 22, 2010 (the “2010 Registration Statement”);

 

WHEREAS,  the Company and the Investor desire to utilize the 2009 Registration Statement and the 2010 Registration Statement, in connection with any offer and sale of any additional shares of Common Stock under the Agreement, in lieu of the 2008 Registration Statement;

 

WHEREAS, the Agreement remains in full force and effect;

 

WHEREAS, Section 9.3 of the Agreement provides that the Agreement may be amended by a written instrument signed by the Company and the Investor; and

 

 

WHEREAS, the Company and the Investor now desire to amend the Agreement as set forth herein.

 

AGREEMENT

 

NOW THEREFORE, the parties hereto, for good and valuable consideration, the receipt of which is hereby acknowledged, hereby agree as follows:

 

1.             Amendment of Section 4.18(i). Effective as of the Amendment Effective Date, Section 4.18(i) of the Agreement shall be amended and restated in its entirety to read as follows:

 

“(i) The Company has prepared and filed with the Commission in accordance with the provisions of the Securities Act the Registration Statements, including base prospectuses relating to the Shares.  The 2009 Registration Statement was declared effective by order of the Commission on October 22, 2009.  The 2010 Registration Statement was declared effective by order of the Commission on April 4, 2010.  As of the date hereof, no stop order suspending the effectiveness of any of the Registration Statements has been issued by the Commission or is continuing in effect under the Securities Act and no proceedings therefor are pending before or, to the Company’s knowledge, threatened by the Commission.  No order preventing or suspending the use of the Prospectus or any Permitted Free Writing Prospectus has been issued by the Commission.”

 

2.             Amendment of “Base Prospectus” Definition. Effective as of the Amendment Effective Date, the definition of “Base Prospectus” in Section (c) of Annex A to the Agreement shall be amended and restated in its entirety to read as follows:

 

“(c) “Base Prospectuses” shall mean the 2009 Base Prospectus and the 2010 Base Prospectus. “2009 Base Prospectus” shall mean the Company’s prospectus, dated October 2, 2009, a preliminary form of which is included in the 2009 Registration Statement, including the documents incorporated by reference therein. “2010 Base Prospectus” shall mean the Company’s prospectus, dated March 4, 2010, a preliminary form of which is included in the 2010 Registration Statement, including the documents incorporated by reference therein.”

 

3.             Amendment of “Registration Statement” Definition. Effective as of the Amendment Effective Date, the definition of “Registration Statement” in Section (ccc) of Annex A to the Agreement shall be amended and restated in its entirety to read as follows:

 

“(ccc) “Registration Statements” shall mean the 2009 Registration Statement and the 2010 Registration Statement. “2009 Registration Statement” shall mean the Company’s registration statement on Form S-3, Commission File Number 333-162275, filed by the Company with the Commission under the Securities Act, as such 2009 Registration Statement may be amended and supplemented from time to time, including the documents incorporated by reference therein and the information deemed to be a part thereof at the time of

 

 

effectiveness pursuant to Rule 430A or Rule 430B under the Securities Act. “2010 Registration Statement” shall mean the Company’s registration statement on Form S-3, Commission File Number 333-165220, filed by the Company with the Commission under the Securities Act, as such 2010 Registration Statement may be amended and supplemented from time to time, including the documents incorporated by reference therein and the information deemed to be a part thereof at the time of effectiveness pursuant to Rule 430A or Rule 430B under the Securities Act.”

 

4.             Amendment of references. Where applicable, references to Base Prospectus in the Agreement shall, as of the Amendment Effective Date, refer to the Base Prospectuses and references to Registration Statement in the Agreement shall, as of the Amendment Effective Date, refer to the Registration Statements.

 

4.             No other amendment.  Except as expressly set forth above, the remaining terms and conditions of the Agreement shall remain in full force and effect.

 

5.             Governing law. This Amendment shall be governed by and construed in accordance with the internal procedure and substantive laws of the State of Delaware, without giving effect to the choice of law provisions of such state.

 

6.             Counterparts. This Amendment may be executed in counterparts, all of which taken together shall constitute one and the same original and binding instrument and shall become effective when all counterparts have been signed by each party and delivered to the other parties hereto, it being understood that all parties hereto need not sign the same counterpart.

 

[SIGNATURE PAGE FOLLOWS]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officer as of the date first above written.

 

	
 
    	
AFFYMAX, INC.:
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Herb Cross
    
	
 
    	
 
    	
Name: Herb Cross
    
	
 
    	
 
    	
Title: Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
AZIMUTH OPPORTUNITY LTD.:
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Peter Poole
    
	
 
    	
 
    	
Name: Peter Poole
    
	
 
    	
 
    	
Title: DirectorExhibit 10.2

 

 

August 4, 2011

 

Behringer Advisors, LLC

15601 Dallas Parkway, Suite 600

Addison, Texas 75001

 

Re:                               Third Quarter 2011 Asset Management Fees

 

Ladies and Gentlemen:

 

Reference is made to that certain Fifth Amended and Restated Advisory Agreement, dated as of December 29, 2006, as amended (the “Advisory Agreement”), by and between Behringer Harvard REIT I, Inc., a Maryland corporation (the “Company”), and Behringer Advisors, LLC, a Texas limited liability company (the “Advisor”).  Capitalized terms used herein but not defined herein shall have the meanings set forth in the Advisory Agreement.

 

In consideration of the mutual agreements and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Advisor hereby agree as follows:

 

1.                                       Third Quarter 2011 Asset Management Fees.  Notwithstanding anything to the contrary contained in the Advisory Agreement, the Advisor, on behalf of itself and its Affiliates, and its and their respective successors and assigns, hereby sets the Company’s obligation to pay the Asset Management Fee to the Advisor at $5,000,000 for the third quarter of 2011.  In doing so, the Advisor waives the Company’s obligation to pay approximately $1.4 million in additional asset management fees that would otherwise become due and payable during the quarter (based on assets held as of July 1, 2011).  The parties acknowledge that the amount waived (and all prior amounts waived) shall be included in amounts for which the Advisor will receive credit in respect of any overpayment to the Advisor under Section 3.05 of the Advisory Agreement.

 

2.                                       Ratification; Effect on Advisory Agreement.

 

(a)                                  Ratification.  The Advisory Agreement, as amended by this letter agreement, shall remain in full force and effect and is hereby ratified and confirmed in all respects.

 

(b)                                 Effect on the Advisory Agreement.  On and after the date hereof, each reference in the Advisory Agreement to “this Agreement,” “herein,” “hereof,” “hereunder,” or words of similar import shall mean and be a reference to the Advisory Agreement as amended hereby.

 

 

 

3.                                       Miscellaneous.

 

(a)                                  Governing Law; Venue.  This letter agreement and the legal relations between the parties hereto shall be construed and interpreted in accordance with the internal laws of the State of Texas without giving effect to its conflicts of law principles, and venue for any action brought with respect to any claims arising out of this letter agreement shall be brought exclusively in Dallas County, Texas.

 

(b)                                 Modification.  This letter agreement shall not be changed, modified, or amended, in whole or in part, except by an instrument in writing signed by both parties hereto, or their respective successors or assignees.

 

(c)                                  Headings.  The titles and headings of the sections and subsections contained in this letter agreement are for convenience only, and they neither form a part of this letter agreement nor are they to be used in the construction or interpretation hereof.

 

(d)                                 Severability.  The provisions of this letter agreement are independent of and severable from each other, and no provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any reason any other or others of them may be invalid or unenforceable in whole or in part.

 

(e)                                  Counterparts.  This letter agreement may be executed in multiple counterparts, each of which shall be deemed to be an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument.  This letter agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories.  This letter agreement, to the extent signed and delivered by means of electronic mail or a facsimile machine, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were an original signed version thereof delivered in person.  No party hereto shall raise the use of electronic mail or a facsimile machine to deliver a signature or the fact that any signature was transmitted or communicated through the use of electronic mail or a facsimile machine as a defense to the formation or enforceability of a contract and each party hereto forever waives any such defense.

 

[The remainder of this page intentionally blank]

 

 

If the foregoing meets with your approval, please indicate your acceptance of this letter agreement by countersigning a copy of this letter agreement in the space indicated below.

 

	
 
    	
Very   truly yours,
    
	
 
    	
 
    
	
 
    	
BEHRINGER   HARVARD REIT I, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
  By:
    	
/s/   Scott W. Fordham
    
	
 
    	
  Name:
    	
Scott   W. Fordham
    
	
 
    	
  Its:
    	
Chief   Operating and Financial Officer
    

 

 

	
Acknowledged   and agreed, as of
    	
 
    
	
the   date first written above:
    	
 
    
	
 
    	
 
    
	
BEHRINGER   ADVISORS, LLC
    	
 
    
	
 
    	
 
    
	
By:
    	
Harvard   Property Trust, LLC,
    	
 
    
	
 
    	
its   Manager
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert S. Aisner
    	
 
    
	
 
    	
 
    	
Robert   S. Aisner
    	
 
    
	
 
    	
 
    	
Co-Chief   Operating Officer and President

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