Document:

ex4-1

 

Exhibit 4.1

 

AMENDMENT NO. 3

TO

TAX BENEFIT PRESERVATION PLAN

 

This
Amendment No. 3 to Tax Benefit Preservation Plan
(“Amendment”) is
entered into between AutoWeb, Inc. (formerly known as Autobytel
Inc.), a Delaware corporation (“Company”), and Computershare Trust
Company, N.A., as rights agent (“Rights Agent”) effective as of
March 31, 2020.

 

Background

 

The
Company and the Rights Agent are parties to that certain Tax
Benefit Preservation Plan dated as of May 26, 2010, as amended by
Amendment No. 1 effective as of April 14, 2014 and Amendment No. 2
effective as of April 13, 2017 (as amended, the “Plan”). The Board of Directors of
the Company deems it advisable and in the best interests of the
Company and its stockholders to amend the Plan to extend its
maturity date and to increase the Purchase Price (as defined in the
Plan). No Person (as defined in the Plan) has become an Acquiring
Person (as defined in the Plan).

 

1.

Amendments. Pursuant to and in
accordance with Section 27 of the Plan, the Plan is hereby amended
as follows:

 

(a)

Paragraph (j) of
Section 1 of the Plan is amended in its entirety to read as
follows:

 

““Certificate
of Incorporation” shall mean the Sixth Restated
Certificate of Incorporation of the Company, as filed with the
Secretary of State of the State of Delaware on October 9, 2017, as
may be amended and restated from time to time.”

 

(b)

Paragraph (a),
clause (i) of Section 7 of the Plan is amended in its entirety to
read as follows:

 

“(i) the
Close of Business on May 26, 2023,”

 

(c)

Paragraph (a),
clause (iv) of Section 7 of the Plan is amended in its entirety to
read as follows:

 

“(iv) the end
of the calendar month in which occurs the final adjournment of the
Company’s 2020 annual meeting of the stockholders, if
stockholder approval of this Plan has not been received at such
meeting.”

 

(d)

The last sentence
of paragraph (a) of Section 7 of the Plan is amended in its
entirety to read as follows:

 

“Until such
notice is received by the Rights Agent, the Rights Agent may
presume conclusively for all purposes, prior to the Close of
Business on May 26, 2023, that the Expiration Date has not
occurred.”

 

(e)

The first sentence
of paragraph (b) of Section 7 of the Plan is amended in its
entirety to read as follows;

 

“The Purchase
Price shall be $20.00 for each one one-hundredth of a share of
Preferred Stock purchasable upon the exercise of a Right (the
“Purchase
Price”).”

 

(f)

Each of the Legend,
paragraph one of the Form of Right Certificate, attached as
Exhibit A to the
Plan, and the Summary of Rights, attached as Exhibit B to the Plan, is
amended so that the references to: (i) “May 26, 2020”
are replaced with “May 26, 2023” and (ii)
“$73.00” are replaced with “$20.00,” as
applicable.

 

 

 

 

 

 

2. Effect of this Amendment. It is
the intent of the parties hereto that this Amendment constitutes an
amendment of the Plan as contemplated by Section 27 thereof. Except
as provided herein, the Plan is in all other respects ratified and
confirmed and shall continue in full force and effect as amended
hereby. This Amendment shall be deemed effective as of the date
hereof as if executed by both parties hereto on such
date.

 

3. Counterparts. This Amendment
may be executed in any number of counterparts and each of such
counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute one and the
same instrument.

 

4. Governing Law. This Amendment
shall be deemed to be a contract made under the laws of the State
of Delaware and for all purposes shall be governed by and construed
in accordance with the laws of such State applicable to contracts
to be made and performed entirely within such State.

 

5. Severability. If any term,
provision, covenant or restriction of this Amendment is held by a
court of competent jurisdiction or other authority to be invalid,
illegal or unenforceable, the remainder of the terms, provisions,
covenants and restrictions of this Amendment shall remain in full
force and effect and shall in no way be affected, impaired or
invalidated.

 

6. Descriptive Headings. The
captions herein are included for convenience of reference only, do
not constitute a part of this Amendment and shall be ignored in the
construction and interpretation hereof.

 

  IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed as of the date set forth above.

 

	
 

	

AUTOWEB,
INC.

By:
/s/ Glenn E. Fuller
                         
   

Glenn
E. Fuller

Executive Vice
President,

Chief
Legal Officer and Secretary

	
 

	
 

	
 

	
 

COMPUTERSHARE TRUST
COMPANY, N.A.

By:
/s/ Dennis V. Moccia
                         

Name:
Dennis V. Moccia

Title:
Senior Manager, Contract OperationsExhibit

Execution Version

AMENDMENT NO. 2 TO ASSET PURCHASE AGREEMENT

THIS AMENDMENT NO. 2, dated as of April 1, 2020 (this “Amendment No. 2”), to the Asset Purchase Agreement (the “Agreement”), dated as of February 9, 2020, by and among Zealand Pharma A/S, a Danish limited liability company organized and existing under the laws of Kingdom of Denmark (“Purchaser”) and one or more other persons designated by the Purchaser, and Valeritas, Inc., a Delaware corporation (the “Company”) and Valeritas Holdings, Inc., a Delaware Corporation (together with the Company, each a “Seller” and collectively, the “Sellers”). Capitalized terms used but not defined in this Amendment No. 2 shall have the respective meanings given to such terms in the Agreement, which will remain in full force and effect as amended hereby.
RECITALS
WHEREAS, Purchaser and Sellers are Parties to the Agreement;
WHEREAS, the Sellers and certain other debtors have filed voluntary petitions for relief under chapter 11 of title 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) commencing chapter 11 cases;
WHEREAS, on March 20, 2020, the Bankruptcy Court entered an order authorizing the sale of substantially all of the Sellers’ assets free and clear of liens, claims, encumbrances and interests to Purchaser and approving the Agreement (the “Order”) 
WHEREAS, the Parties wish to make certain amendments to the terms of the Agreement and the Parties desire to amend certain terms of the Agreement by entering into, and as set forth in, this Amendment No. 2; and
WHEREAS, Section 12.3 of the Agreement provides that the Parties may amend, modify or supplement the Agreement by a written instrument making specific reference to the Agreement signed by the Party against whom enforcement of any such amendment, supplement, modification, or waiver is sought. 
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:
AGREEMENT
		
	Section 1.
	Amendments to the Agreement.  

(a)Section 1.1(x) of the Agreement is hereby amended and restated in its entirety as follows:
“(x) except for the Bank Account listed on Schedule 1.1(x) under the heading “Excluded Bank Account” (the “Excluded Bank Account"), all Bank Accounts; provided, that all Cash and Cash Equivalents located in the Excluded Bank Account immediately before Closing (other than those amounts deposited into such account directly from the proceeds from the DIP Financing Agreements to be used to pay Cure Costs on or after Closing) constitute Purchased Assets, and any Cash and Cash Equivalents that are deposited to the Excluded Bank Account by anyone other than HB Fund, LLC, as the lender pursuant to the DIP Financing Agreements, after Closing  shall promptly be remitted to Purchaser; provided, further, that the Bank Account listed on Schedule 1.1(x) under the heading “Delayed Bank Account” (the “Delayed Bank Account”) shall not be conveyed to Purchaser until $4,187,679.34 in Cure Costs are paid from such Delayed Bank Account at, or as promptly as practicable following, the Closing; and”
(b)    Schedule 1.1(x) to the Agreement is hereby amended and restated in its entirety as set forth in Schedule 1.1(x) attached hereto.
Section 2.    Effect of Amendment.  Except as expressly modified by this Amendment No. 2, each of the terms and provisions of the Agreement shall continue in full force and effect unamended.  
Section 3.    No Waivers.  The execution, delivery and performance of this Amendment No. 2 will not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the parties under, the Agreement.
Section 4.    References.  On and after the date hereof, each reference in the Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import referring to the Agreement, and each reference in any other document relating to the “Asset Purchase Agreement,” “the Agreement,” “thereunder,” “thereof,” “therein” or words of like import referring to the Agreement, means and references the Agreement as amended hereby.  
Section 5.    Execution in Counterparts.  This Amendment No. 2 may be executed in one or more counterparts, each of which shall be considered an original instrument, but all of which shall be considered one and the same agreement, and shall become binding when one or more counterparts have been signed by each of the parties hereto and delivered to each of the parties.  Delivery of an executed counterpart of a signature page to this Amendment No. 2 shall be as effective as delivery of a manually executed counterpart of this Amendment No. 2.
Section 6.    Governing Law.  This Amendment No. 2 shall be governed by and construed in accordance with federal bankruptcy law, to the extent applicable, and where state law is implicated, the laws of the State of Delaware shall govern, without giving effect to the choice of law principles thereof (except for any laws of that state which would render such choice of laws ineffective), including all matters of construction, validity and performance.
[Signature pages follow]

IN WITNESS WHEREOF, the parties have caused this Amendment No. 2 to be executed by their duly authorized representatives as of the date and year first set forth above.

 

SELLERS:

VALERITAS, INC.
                    

By: /s/ John E. Timberlake
Name: John E. Timberlake
Title: Chief Executive Officer

VALERITAS HOLDINGS, INC.

By: /s/ John E. Timberlake
Name: John E. Timberlake
Title: Chief Executive Officer

PURCHASER:

ZEALAND PHARMA A/S

By: /s/ Emmanuel Dulac
Name: Emmanuel Dulac
Title: Chief Executive Officer

By: /s/ Matthew Dallas
Name: Matthew Dallas
Title: Chief Financial Officer

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