Document:

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                                                                    EXHIBIT 10.3

To:      Each of the Purchasers named on Schedule 1 attached hereto,
         and

         Spectrum Pharmaceuticals, Inc.
         157 Technology Drive
         Irvine, California 92618
         Att'n:  CEO

                  Re:      Lock-up Agreement - Preferred Stock and Warrant
                           Purchase Agreement

Dear Sirs/Madams:

         The undersigned, being an officer and/or director of Spectrum
Pharmaceuticals, Inc., a Delaware corporation (the "Seller") understands that
(i) the Seller and each of the Purchasers named on Schedule 1 attached hereto
proposes to enter into a preferred stock and warrant purchase agreement (the
"Purchase Agreement") and certain other agreements (together with the Purchase
Agreement, the "Transaction"), pursuant to which the Purchasers will acquire up
to 600 shares of the Seller's newly designated Series D 8% Cumulative
Convertible Voting Preferred Stock, which are convertible into up to 2,553,191
shares of Common Stock (subject to adjustment in certain circumstances), and
warrants, including certain warrants issuable to one of the Purchasers pursuant
to a financial advisory agreement between the Seller and such Purchaser (all
such warrants, the "Warrants") to purchase up to 2,808,511 shares of Common
Stock (subject to adjustment in certain circumstances). The undersigned
understands that each Purchaser is willing to proceed with this transaction only
if the undersigned and all other officers and directors of the Seller severally
agree to this form of Lock-up Agreement. As used herein, "Common Stock" includes
any securities convertible into or exchangeable for, with or without the payment
of additional consideration, Common Stock.

         The undersigned hereby warrants and represents as follows:

                  (i)      The undersigned is familiar with the terms of the
                           Transaction, and the undersigned has had the
                           opportunity to discuss in detail the terms of the
                           Transaction with the other directors and officers of
                           the Seller;

                  (ii)     The undersigned is beneficial owner of 5,750 shares
                           of Common Stock, including shares owned in any
                           individual retirement account; and

                  (iii)    The undersigned has the full authority and capacity
                           to enter into and carry out all the terms of this
                           Lock-up Agreement, and the undersigned is not subject
                           to or bound by any agreement or instrument, or the
                           order of any court or other governmental authority
                           which in any way restricts the undersigned's
                           authority or capacity to enter into and carry out all
                           the terms of this Lock-up Agreement.

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         To induce each of the Purchasers and the Seller to enter into the
Purchase Agreement and the other agreements constituting the Transaction, and to
carry out the Transaction, and in consideration of the consummation of the
Transaction, the undersigned irrevocably agrees that the undersigned will not,
directly or indirectly,

         (1)      offer for sale, sell, pledge, assign, hypothecate or otherwise
                  create any interest in or dispose of (or enter into any
                  transaction or device that is designed to, or could reasonably
                  be expected to, result in any of the foregoing) any shares of
                  Common Stock (including, without limitation, shares of Common
                  Stock that the undersigned "beneficially owns" as defined in
                  Section 13(d) of the Securities Exchange Act of 1934, as
                  amended, including the rules and regulations of the Securities
                  and Exchange Commission thereunder, and shares of Common Stock
                  that may be issued upon exercise of any option or warrant, or
                  upon the occurrence of any future contingency) or securities
                  convertible into or exchangeable for (with or without the
                  payment of any additional consideration) Common Stock during
                  the Lock-up Period (as defined below), or

         (2)      enter into any swap or other derivatives transaction that
                  transfers to another, in whole or in part, any of the economic
                  benefits or risks of ownership of such shares of Common Stock,
                  including, but not limited to, short sales, puts, calls or
                  other hedging transactions, including private hedging
                  transactions,

whether any such transaction described in clause (1) or (2) above is to be
settled by delivery of Common Stock or other securities, in cash or otherwise,
during the Lock-up Period (as hereinafter defined).

         As used herein, the "Lock-up Period" shall mean the period commencing
on the date of the Closing of the Transaction ("Closing Date"), and ending 180
days thereafter.

         The Seller and its transfer agent are authorized to decline to make any
transfer of securities if such transfer would constitute a violation or breach
of this Lock-up Agreement.

         The undersigned understands that Seller will proceed with the
Transaction in reliance on this Lock-up Agreement. The undersigned understands
and agrees that any shares of Common Stock which the undersigned acquires
hereafter under any circumstances shall be, without the necessity the execution
of any further document or instrument or any further act, covered by this
Lock-up Agreement.

         Notwithstanding the foregoing, the undersigned may transfer any shares
of Common Stock or any securities convertible into or exchangeable or
exercisable for or deriving from shares of Common Stock during the undersigned's
lifetime or, upon the undersigned's death by will or intestacy, to the
undersigned's immediate family or trusts or other entities of which the
undersigned's immediate family are the only beneficiaries; provided, however,
that (i) prior to any transfer each transferee shall execute a copy of this
agreement and become bound thereby, and (ii) no such transfer, singly or in the
aggregate with other transfers, shall require the

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registration under the Securities Act of 1933, as amended, of the shares so
transferred. For the purposes of this paragraph, "immediate family" shall mean
the undersigned's spouse, lineal descendants, parents and siblings.

         The undersigned agrees that the undersigned will execute any additional
documents reasonably necessary or related to the enforcement of this Lock-up
Agreement. The undersigned's obligations under this Lock-up Agreement shall be
binding upon the undersigned's heirs, personal representatives, successors and
assigns. The undersigned agrees that this Lock-up Agreement shall be governed
and construed in accordance with the internal law of the State of New York,
without regard to choice-of-law principles.

Dated: May 7, 2003                               Very truly yours,

                                                 _______________________________
                                                 Signature

                                                 _______________________________
                                                 Print Name<PAGE>

                                                                    EXHIBIT 10.4

                      [SCO Financial Group LLC Letterhead]

                                February 1, 2003

Spectrum Pharmaceuticals, Inc.
PO Box 5702
Irvine, California 92619

Attention:        Rajesh C. Shrotriya
Title:            Chairman, President & CEO

Dear Sirs:

         The purpose of this letter is to confirm the appointment of SCO
Financial Group LLC ("SCO" or the "Advisor") upon the terms and conditions set
forth herein as financial consultant and advisor to Spectrum Pharmaceuticals,
Inc. ("the Company") in connection with the Company's general corporate
financial advisory needs. In this connection, SCO, in its capacity as financial
advisor, will assist the Company by undertaking certain activities, at the
request of the Company and to the extent that such activities are required by
the status of a project, including the following:

         1)       Meet with appropriate Company management to discuss and help
                  the Company formulate an appropriate strategy, familiarization
                  of product and technology, milestones, etc.;

         2)       Advise the Company with respect to financial and traditional
                  investor relations, including development of presentation
                  materials, introduction to and scheduling of meetings with
                  investment managers, buyside analysts, and analysis of
                  ownership;

         3)       Advise the Company with respect to financing strategy,
                  including public and private equity and debt;

         4)       Advise the Company with respect to mergers and acquisitions
                  and strategic corporate partnerships, including identification
                  of counterparties, approach strategy and structure, and assist
                  in the negotiations;

         5)       Advise the Company with respect to financial and trade media
                  relations, with respect to both traditional print and
                  electronic media, and with new media principally relating to
                  use of the internet as a distribution mechanism; and

         6)       Assist in such other capacity as may be reasonably requested
                  by the Company to effect the foregoing.

         It is the practice of SCO to provide financial advice with respect to
corporate finance and investor relations partially on a retainer basis. Our
retainer for services to be rendered hereunder is $9,000 per month, payable at
the beginning of each month.

         In the event a corporate finance transaction contemplated in item 3)
above is completed with any party which SCO identified, approached or negotiated
with on behalf of the Company, the Company will pay SCO a success fee of 7%
(plus warrant coverage at the exercise price and in the form of any warrants
issued to the purchaser, of 10%, or at the sale price of the common stock or
equity-linked securities in the event no warrants are sold) of the Aggregate
Value of the transaction.

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Spectrum Pharmaceuticals, Inc.
February 1, 2003
Page 2

Additionally, the Company agrees to reimburse the Advisor for its out-of-pocket
expenses incurred in connection with Advisor's role in the transaction in the
amount of 1% of the Aggregate Value of the transaction.

         For the purposes of this letter, the term Aggregate Value shall mean
the total amount of cash and the fair market value of all other property paid or
payable, directly or indirectly, to the Company and its security holders. In
addition, Aggregate Value shall include the net amount of any debt and/or
contingent liability repaid or assumed by the purchaser from the Company, both
directly or indirectly.

         In the event the Company completes a corporate finance transaction of
the type contemplated in item 4) above with any party identified, contacted
and/or negotiated with by SCO on behalf of the Company during the term of this
engagement, the Company will pay SCO a success fee for its advisory services of
5% of the Aggregate Value of the transaction. Additionally, the Company agrees
to reimburse the Advisor for its out-of-pocket expenses incurred in connection
with the Advisor's role in the transaction in the amount of 0.5% of the
Aggregate Value of the transaction.

         For purposes of this letter, a "transaction" shall mean any transaction
or series or combination of transactions, other than in the ordinary course of
trade or business, whereby, directly or indirectly, a significant portion of the
capital stock of the Company or a significant portion of its respective assets
is transferred for consideration, including without limitation, a sale or
exchange of capital stock or assets, a lease of assets with or without a
purchase option, a merger or consolidation, a tender or exchange offer, a
leveraged buy-out, the formation of a joint venture, minority investment or
partnership, a licensing deal or any similar transaction.

         In addition to any fees payable to SCO under the terms of this letter,
the Company agrees to reimburse the Advisor, upon a monthly basis, for its
out-of-pocket expenses incurred in connection with the Advisor's activities
under this letter.

         The Company agrees to indemnify SCO and each of its respective
affiliates and their respective directors, officers, employees, agents and
controlling persons (each such person being an "Indemnified Party") from and
against any and all losses, claims, damages and liabilities, joint or several,
to which such Indemnified Party may become subject under any applicable federal
or state law, or otherwise, related to or arising out of any transaction
contemplated by this letter or the engagement of the Advisor pursuant to, and
the performance by the Advisor of the services contemplated by, this letter and
will reimburse any Indemnified Party for all expenses (including counsel fees
and expenses, whether incurred in connection with third party claims or direct
claims against the Company) as they are incurred in connection with the
investigation of, preparation for or defense of any pending or threatened claim
or any action or proceeding arising therefrom, whether or not such Indemnified
Party is a party. The Company will not be liable under the foregoing
indemnification provision to the extent that any loss, claim, damage, liability
or expense is found in a final judgment by a court of competent jurisdiction to
have resulted primarily from the Advisor's bad faith or gross negligence.

         If a transaction is consummated by the Company with any party which the
Advisor identified, approached or negotiated with on behalf of the Company
within two years from the date of termination of this agreement, or any
amendment or extension thereto, the Company agrees to pay the Advisor a
transaction fee determined as provided in the foregoing paragraphs.

         The Advisor's engagement hereunder may be terminated by either the
Company or the Advisor upon the first day of any month upon thirty days written
notice to that effect to the other party, it being

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Spectrum Pharmaceuticals, Inc.
February 1, 2003
Page 3

understood that the provisions relating to the payment of fees, expenses and
indemnification will survive any such termination. Provided, however, in the
event a transaction contemplated in items 3) or 4) is completed during the
engagement the terms of the engagement will extend 12 months from the closing
date of the transaction.

         This agreement shall be construed and interpreted in accordance with
the laws of the State of New York.

         If the foregoing is in accordance with your understanding, please
confirm acceptance by signing and returning to us the duplicate of this letter
attached herewith.

                                        SCO FINANCIAL GROUP LLC

                                        By:    /s/Steven H. Rouhandeh
                                            ------------------------------------
                                        Name:  Steven H. Rouhandeh
                                        Title: Chairman

                                        Spectrum Pharmaceuticals, Inc.

                                        By:    /s/Rajesh C. Shrotriya
                                            ------------------------------------
                                        Name:  Rajesh C. Shrotriya
                                        Title: Chairman, President & CEO
                                               Feb. 7, 2003

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