Document:

Exhibit 4.1.1

	
      
        Exhibit 4.1.1

          

          

           

         BRADLEY
          PHARMACEUTICALS, INC. 

          

          and

          

          AMERICAN STOCK TRANSFER & TRUST COMPANY

          

          as Trustee

        _____________________________

        FIRST SUPPLEMENTAL
          INDENTURE

          

          Dated as of July 24, 2003

        _____________________________

        4% CONVERTIBLE SENIOR
          SUBORDINATED NOTES DUE 2013

         

        

        

        
        
             FIRST
          SUPPLEMENTAL INDENTURE, dated as of July 24, 2003 (the “First
          Supplemental Indenture”), between BRADLEY PHARMACEUTICALS, INC.,
          a Delaware corporation (the “Company”) and AMERICAN STOCK
          TRANSFER & TRUST COMPANY, as Trustee (herein called the “Trustee”).

             WHEREAS,
          the Company and the Trustee have entered into an Indenture dated as
          of June 11, 2003 (the “Indenture”) relating to the Company's
          4% Convertible Senior Subordinated Notes due 2003 (the “Notes”);

             WHEREAS,
          the Company desires to increase the aggregate principal amount of Notes
          issuable pursuant to the Indenture by $4,000,000, such that an aggregate
          of $37,000,000 in aggregate principal amount of Notes are issuable pursuant
          to the Indenture; and 

             WHEREAS,
          the Company has obtained the requisite consent of holders of the Notes
          to the amendment to the Indenture contemplated hereby;

             NOW
          THEREFORE, the Company covenants and agrees with the Trustee as follows:

             SECTION
          1.          
          General

             Unless
          the context otherwise requires:

             (a)               
          capitalized terms used in this First Supplemental Indenture and
          not otherwise defined herein shall have the meanings ascribed to such
          terms in the Indenture; and

             (b)              
          a term defined in the Indenture has the same meaning when used
          in this First Supplemental Indenture unless otherwise defined herein
          (in which case the definition set forth herein shall govern);

             SECTION
          2.          
          Amendments to the Indenture.

             The
          Indenture is, effective as of the date hereof, hereby amended as follows:

             I.  
          Article I  Definitions

             (a)               
          Section 1.01 Definitions

      

               (i)        
            The following defined term shall be added immediately following the
            term “Indenture”:

            

        “‘Initial Issue Date’
          means June 11, 2003.”

          

               (ii)       
          The definition of the term “Issue Date” is deleted in its
          entirety and replaced with the following:

          

          
        “‘Issue Date’ means the
          date of issuance of any Security issued hereunder.”

          

          

        
               (iii)      
            The definition of the term “liquidated damages is deleted in
            its entirety and replaced by the following:

        

      

      
        “‘liquidated damages’
          has the meaning provided in the Registration Rights Agreements.”

          

          

             (iv)      
          The definition of the term “Option” is deleted in its entirety.

          

          

             (v)       
          The definition of the term “Purchase Agreement” is deleted
          in its entirety.

          

               (vi)      
          The definition of the term “Registration Rights Agreement”
          is deleted in its 

          entirety and replaced with the following:

          

          

        “‘Registration Rights
          Agreements’ means the Registration Rights Agreements dated as of June
          11, 2003 and July 24, 2003, respectively.”

      

      
             (b)              
          Section 1.02 Additional Definitions.  The definition
          of the term “Additional Securities” is deleted in its entirety.

             II.  
          Article II  The Securities

             (c)               
          Section 2.01 Form and Dating.   The second paragraph
          of Section 2.01 of the Indenture is hereby amended by deleting the paragraph
          in its entirety and replacing it with the following:

             “Securities
          offered and sold in reliance on Rule 144A under the Securities
          Act shall be issued initially in the form of one or more Global Securities,
          substantially in the form set forth in Exhibit A (the “Global
          Security”), deposited with the Trustee, as custodian for the
          Depositary, duly executed by the Company and authenticated by the Trustee
          as hereinafter provided and bearing the legends set forth in Exhibits B-1
          and B-2. The aggregate principal amount of the Global Security
          may from time to time be increased or decreased by adjustments made
          on the records of the Trustee, as custodian for the Depositary, as hereinafter
          provided; provided, that in no event shall the aggregate principal
          amount of the Global Security or Securities exceed $37,000,000.”

             (d)              
          Section 2.02 Execution and Authentication.  The fourth
          paragraph of Section 2.02 of the Indenture is hereby amended by deleting
          the paragraph in its entirety and replacing it with the following:

             “Upon
          a written order of the Company signed by two Officers of the Company
          or by an Officer and an Assistant Treasurer or an Assistant Secretary
          of the Company, the Trustee shall authenticate Securities for original
          issue.  The aggregate principal amount of Securities outstanding at
          any time may not exceed $37,000,000, except as provided in Section
          2.07.”

             (e)               
          Section 2.16 Special Transfer  Provisions.  Subsection
          (B) of Section 2.16 of the Indenture is hereby amended by deleting such
          Subsection in its entirety and replacing it with the following:

             “(B)     
          Private Placement Legend.  Upon the transfer, exchange or replacement
          of Securities not bearing the Private Placement Legend, the Registrar
          or co-Registrar shall deliver 

        
          
        Securities that do not bear the
          Private Placement Legend.  Upon the transfer, exchange or replacement
          of Securities bearing the Private Placement Legend, the Registrar or
          co-Registrar shall deliver only Securities that bear the Private Placement
          Legend unless (i) the requested transfer is after the second anniversary
          of the issue date for the Securities (provided, however,
          that neither the Company nor any of its Affiliates has held any beneficial
          interest in such Security, or portion thereof, at any time prior to
          or on the second anniversary of the issue date), (ii) there is
          delivered to the Trustee an Opinion of Counsel reasonably satisfactory
          to the Company to the effect that neither such legend nor the related
          restrictions on transfer are required in order to maintain compliance
          with the provisions of the Securities Act or (iii) such Security
          has been sold pursuant to an effective registration statement under
          the Securities Act and the Holder selling such Securities has delivered
          to the Registrar or co-Registrar a notice in the form of Exhibit
          C hereto.  Upon the effectiveness of a Shelf Registration Statement
          (as defined in the Registration Rights Agreements), the Company shall
          deliver to the Trustee a notice of effectiveness, a Security or Securities,
          an authentication order in accordance with Section 2.02 and an
          Opinion of Counsel in the form of Exhibit D hereto and,
          if required by the Depositary, the Company shall deliver to the Depositary
          a letter of representations in a form reasonably acceptable to the Depositary.”

             III.      
          Article III  Redemption

             (f)                
          Section 3.09 Repurchase at Option of Holder Upon a Repurchase
          Event.  Subsection (iii) of the “Change in Control”
          definition is deleted in its entirety and replaced with the following:

      

      
             “(iii)     
          at any time the following persons cease for any reason to constitute
          a majority of the Company’s Board of Directors:

        
               (1)       
            individuals who on the Initial Issue Date constituted the Company’s
            Board of Directors; and

               (2)       
            any new directors whose election by the Company’s Board of Directors
            or whose nomination for election by the Company’s stockholders was
            approved by at least a majority of the directors then still in office
            who were either directors on the Initial Issue Date or whose election
            or nomination for election was previously so approved; or”

        

      

      
             IV.      
          Article IV Covenants

             (g)               
          Section 4.03 Reports Subsection (A) of Section
          4.03 of the Indenture is hereby amended by deleting such Subsection
          in its entirety and replacing it with the following: 

             “The
          Company will promptly provide to the Trustee and shall, upon request,
          provide to any Holder or beneficial owner of Securities or prospective
          purchaser of Securities that so requests, the information required to
          be delivered pursuant to Rule 144A(d)(4) until such time as the Securities
          and the underlying Common Stock have been registered by the Company
          for resale under the Securities Act pursuant to the Registration Rights
          Agreements.  In addition, the Company will furnish such Rule 144A(d)(4)
          information if, at any time while the Securities or the Common Stock
          issuable upon conversion of the Securities are restricted securities
          within the

        
          
        meaning of the Securities Act,
          the Company is not subject to the informational requirements of the
          Exchange Act.”

             IV.      
          Article IX Amendments

             (h)               
          Section 9.01 Without Consent of Holders.
          Subsection (ii) of Section 9.01 of the Indenture is hereby amended by
          deleting the words “Registration Rights Agreement” and replacing
          it with the words “Registration Rights Agreements.”

             V.       
          Exhibits

             (i)                 
          Exhibit A Form of Global Security.  The Form of
          Global Security in Exhibit A of the Indenture is deleted and replaced
          in its entirety by Exhibit A hereto.

             (j)                
          Exhibit D Form of Opinion of Counsel in Connection with
          Registration of Securities.  Exhibit D in the Indenture is deleted
          and replaced in its entirety by Exhibit D hereto. 

             SECTION
          3.          
          Ratification and Incorporation of Indenture.

        The Indenture, as supplemented
          by this First Supplemental Indenture, is in all respects ratified and
          confirmed, and this First Supplemental Indenture shall be deemed part
          of the Indenture.

             SECTION
          4.          
          Governing Law.

             The
          laws of the State of New York, without regard to principles of conflicts
          of law, shall govern the Indenture, including this First Supplemental
          Indenture, and the Notes.

             SECTION
          5.          
          Separability.

             In
          case any provision contained in the Indenture, including this First
          Supplemental Indenture, shall be invalid, illegal or unenforceable,
          the validity, legality, and enforceability of the remaining provisions
          shall not in any way be affected or impaired thereby and a Holder shall
          have no claim therefore against any party thereto.

             SECTION
          6.          
          Successors

             All
          agreements of the Company in the Indenture, including this First Supplemental
          Indenture, shall bind its respective successors.  All agreements of
          the Trustee in this Indenture, including this First Supplemental Indenture,
          shall bind its successors.

             SECTION
          7.          
          Effect of Headings.

        
          
             The
          Section headings provided herein are for convenience only and shall
          not affect the construction or interpretation the Indenture, including
          this First Supplemental Indenture. 

             SECTION
          8.          
          Counterparts.

             This
          First Supplemental Indenture may be executed in any number of counterparts
          each of which shall be an original, but such counterparts shall together
          constitute one and the same instrument.

        
          
      

       
      
             IN
          WITNESS WHEREOF, the parties hereto have caused this First Supplemental
          Indenture to be duly executed as of the date first above written.

      

      
        
          
            
              BRADLEY PHARMACEUTICALS,
                INC.

                

                

              By: /s/ R. Brent Lenczycki                                
                

                    Name: R. Brent
                Lenczycki

                    Title:   Chief
                Financial Officer

                

                

              AMERICAN STOCK TRANSFER
                & TRUST COMPANY

                

                

              By: /s/ Herbert J.
                Lemmer                                 

                    Name: Herbert J.
                Lemmer

                    Title:   Vice President

            

          

        

      

      

      
        EXHIBIT A

        [Face of Security]

          

          BRADLEY PHARMACEUTICALS,
          INC.

        [Certificate No. _______]

        [INSERT PRIVATE
          PLACEMENT LEGEND AND GLOBAL SECURITY LEGEND 

          AS REQUIRED]

        4% Convertible
          Senior Subordinated Note due 2013 CUSIP No. ____________

             Bradley
          Pharmaceuticals, Inc., a Delaware corporation (herein called the “Company”),
          for value received, hereby promises to pay to Cede & Co. or registered
          assigns, the principal sum of _________________ Dollars ($_______________)
          on June 15, 2013, and to pay interest thereon, as provided on the reverse
          hereof, until the principal and any unpaid and accrued interest is paid
          or duly provided for.  The right to payment of the principal and all
          other amounts due with respect hereto is subordinated to the rights
          of Senior Indebtedness as set forth in the Indenture referred to on
          the reverse side hereof.

             Interest
          Payment Dates:  June 15 and December 15, with the first payment to be
          made on December 15, 2003.

             Record
          Dates:  June 1 and December 1.

             The
          provisions on the back of this certificate are incorporated as if set
          forth on the face hereof.

             IN
          WITNESS WHEREOF, BRADLEY PHARMACEUTICALS, INC. has caused this instrument
          to be duly signed.

      

      
        
          
            
              
                
                  BRADLEY
                    PHARMACEUTICALS, INC. 

                    

                

                By:                                                                   
                  

                      Name:

                      Title

              

            

          

        

      

      
        Dated:  _______________

        
          
         
        TRUSTEE’S CERTIFICATE OF AUTHENTICATION

        This is one of the Securities
          referred to in the within-mentioned Indenture.

        AMERICAN STOCK TRANSFER &
          TRUST COMPANY, as Trustee

        By:                                                                  
          

                          Authorized
          Signatory

        Dated:  ________________

        
          

        [REVERSE OF SECURITY]

          

          BRADLEY PHARMACEUTICALS, INC.

          

          4% Convertible Senior Subordinated Note due 2013

             1.                 
          Interest.  Bradley Pharmaceuticals, Inc., a Delaware corporation
          (the “Company”), promises to pay interest on the principal
          amount of this Security at the rate per annum shown above. 
          The Company will pay interest semi-annually on June 15 and December
          15 of each year, with the first payment to be made on December 15, 2003. 
          Interest on the Securities will accrue on the principal amount from
          the most recent date to which interest has been paid or provided for
          or, if no interest has been paid, from June 11, 2003.  Interest will
          be computed on the basis of a 360-day year of twelve 30-day months.

             2.                 
          Maturity.  The Securities will mature on June 15, 2013.

             3.                 
          Method of Payment.  The Company will pay interest on the
          Securities (except defaulted interest) to the persons who are registered
          Holders of Securities at the close of business on the record date set
          forth on the face of this Security next preceding the applicable interest
          payment date.  Holders must surrender Securities to a Paying Agent to
          collect the principal, Redemption Price, Option Purchase Price or Repurchase
          Price of the Securities, plus, if applicable, accrued and unpaid interest
          payable, if any, as herein provided upon Redemption, Repurchase at Holder’s
          Option, Repurchase Upon Repurchase Event or Maturity, as the case may
          be.  The Company will pay all amounts due with respect to the Securities
          in money of the United States that at the time of payment is legal tender
          for payment of public and private debts.  If this Security is in global
          form, the Company will pay interest on the Securities by wire transfer
          of immediately available funds to the account specified by the Holder. 
          With respect to securities held other than in global form, the Company
          will make payments by wire transfer of immediately available funds to
          the account specified by the Holders thereof or, if no such account
          is specified with respect to a Holder, by mailing a check to the Holder’s
          registered address.

             4.                 
          Paying Agent, Registrar, Conversion Agent.  Initially,
          American Stock Transfer & Trust Company (the “Trustee”)
          will act as Paying Agent, Registrar and Conversion Agent.  The Company
          may change any Paying Agent, Registrar or Conversion Agent without notice. 
          

             5.                 
          Indenture.  The Company issued the Securities under an
          Indenture dated as of  June 11, 2003 as supplemented by the First Supplemental
          Indenture dated as of July 24, 2003 (collectively, the “Indenture”)
          between the Company and the Trustee.  The terms of the Securities include
          those stated in the Indenture and those made part of the Indenture by
          reference to the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb)
          (the “Act”) as in effect on the date of the Indenture. 
          The Securities are subject to all such terms, and Securityholders are
          referred to the Indenture and the Act for a statement of such terms. 
          The Securities are general unsecured senior subordinated obligations
          of the Company limited to $37,000,000 aggregate principal amount.

        
          
             6.                 
          Optional Redemption.  Subject to the terms and conditions
          of the Indenture, the Securities will be redeemable prior to maturity
          at the option of the Company, in whole or in part, at any time on or
          after June 15, 2008 (the date of such time, the “Redemption
          Date”) at a redemption price equal to 100% of the principal
          amount of the Securities to be redeemed, plus any accrued and unpaid
          interest to the Redemption Date; provided that if such Redemption
          Date is also an interest payment date, such accrued and unpaid interest
          will be payable in the ordinary course to the holder of record on the
          relevant record date.

             7.                 
          Notice of Redemption.  Notice of redemption will be mailed
          at least 30 days but not more than 60 days before the Redemption Date
          to each Holder of Securities to be redeemed at its registered address. 
          Securities in denominations larger than $1,000 principal amount may
          be redeemed in part but only in integral multiples of $1,000 principal
          amount.  On and after the Redemption Date, interest will cease to accrue
          on Securities or portions of them called for redemption (except to the
          extent the Company defaults in the payment of the Redemption Price or
          accrued and unpaid interest, if any, to the Redemption Date).

             8.                 
          Purchase by the Company at the Option of the Holder. 
          Subject to the terms and conditions of the Indenture, the Company shall
          become obligated to purchase, at the option of the Holder, the Securities
          held by such Holder on June 15, 2008 (the “Option Purchase Date”)
          at an Option Purchase Price of 100% of the principal amount of Securities
          to be purchased, plus accrued and unpaid interest to the Option Purchase
          Date, upon delivery of a Purchase Notice containing the information
          set forth in the Indenture, at any time from the opening of business
          on the date that is 20 Business Days prior to the Option Purchase Date
          until the close of business on the day immediately preceding such Option
          Purchase Date and upon delivery of the Securities to the Paying Agent
          by the Holder as set forth in the Indenture.

        Holders have the right to withdraw
          any Purchase Notice by delivering to the Paying Agent a written notice
          of withdrawal in accordance with the provisions of the Indenture.

             9.                 
          Repurchase at Option of Holder Upon a Repurchase Event. 
          Subject to the terms and conditions of the Indenture, in the event of
          a Repurchase Event, then each Holder of the Securities shall have the
          right, at the Holder’s option to require the Company to repurchase such
          Holder’s Securities including any portion thereof which is $1,000 in
          principal amount or any integral multiple thereof on a date (the “Repurchase
          Date”) no later than 30 days after the date on which notice
          of such Repurchase Event is mailed in accordance with the immediately
          succeeding paragraph, at a price equal to 100% of the outstanding principal
          amount of the Securities tendered, plus accrued and unpaid interest
          to the Repurchase Date.

             A
          “Repurchase Event” of the Company shall be deemed to
          have occurred upon the occurrence of either a “Change in Control”
          or a “Termination of Trading.”

        
          
         
             A
          “Change in Control” of the Company shall be deemed
          to have occurred at such time as:  

      

      
             (i)                 
          any “person” or “group” (as such terms are
          used for purposes of Sections 13(d) and 14(d) of the Exchange Act),
          is or becomes the “beneficial owner” (as such term is used
          in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50%
          or more of the total voting power of all classes of the Company’s Capital
          Stock entitled to vote generally in the election of directors (other
          than Daniel Glassman, Iris Glassman, Bradley Glassman, trusts for their
          benefit and heirs, lineal descendants, legatees and legal representatives
          of any of the foregoing and the trustee of any bona fide trust
          of which one or more of the foregoing are the sole beneficiaries or
          the grantors thereof, unless, after giving effect to such transaction,
          (1) the Company’s Common Stock ceases to be listed on a United States
          national securities exchange or approved for quotation on the Nasdaq
          National Market or any similar United States system for automated dissemination
          of quotations of securities prices or (2) less than 40% of the outstanding
          shares of the Company’s Common Stock remain beneficially owned by persons
          other than the Glassman family); or

          

          

             (ii)               
          any “person” or “group” (as such terms are
          used for purposes of Sections 13(d) and 14(d) of the Exchange Act) is
          or becomes the “beneficial owner” (as such term is used in
          Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% or
          more of the total voting power of the Company’s Class B common stock
          (other than Daniel Glassman, Iris Glassman, Bradley Glassman, trusts
          for their benefit and heirs, lineal descendants, legatees and legal
          representatives of any of the foregoing and the trustee of any bona
          fide trust of which one or more of the foregoing are the sole beneficiaries
          or the grantors thereof); or

          

          

        
               (iii)              
            at any time the following persons cease for any reason to constitute
            a majority of the Company’s Board of Directors:

        

        
               (1)       
            individuals who on the Initial Issue Date constituted the Company’s
            Board of Directors; and

            

            

               (2)       
            any new directors whose election by the Company’s Board of Directors
            or whose nomination for election by the Company’s stockholders was
            approved by at least a majority of the directors then still in office
            who were either directors on the Initial Issue Date or whose election
            or nomination for election was previously so approved; or

        

        
          (iv)             
            The Company consolidates with or merges with or into, another
            person or any person consolidates with, or merges with or into the
            Company, in any such event other than pursuant to a transaction in
            which the persons that “beneficially owned,” directly or
            indirectly, the shares of the Company’s Voting Stock immediately prior
            to such transaction, “beneficially own,” directly or indirectly
            shares of the Company’s Voting Stock representing at least a majority
            

        

      

      
        
      
        
          of the total voting power of
            all outstanding classes of Voting Stock of the continuing or surviving
            corporation in substantially the same proportion as such ownership
            prior to the transaction; or

            

            

        

        (v)               
          the sale, lease, transfer or other conveyance or disposition
          of all or substantially all of the assets or property of the Company
          to any “person” or “group” (as such terms are used
          in Sections 13(d) and 14(d) of the Exchange Act), including any group
          acting for the purpose of acquiring, holding, or disposing of securities
          within the meaning of Rule 13d-5(b)(1) under the Exchange Act; or

          

          

        (vi)             
          the Company is liquidated or dissolved or the holders of the
          Company’s Capital Stock approve any plan or proposal for the liquidation
          or dissolution of the Company.

      

      
             A
          “Termination of Trading” shall occur if the Common
          Stock of the Company (or other common stock into which the Securities
          are then convertible) is neither listed for trading on a U.S. national
          securities exchange nor approved for trading on an established automated
          over-the-counter trading market in the United States.

             10.             
          Conversion.  A holder may convert his or her Security
          into Common Stock of the Company at any time prior to the close of business
          on June 15, 2013, or if the Security is called for redemption by the
          Company, the Holder may convert it at any time before the close of business
          on the business day immediately preceding the date fixed for such redemption.

             A
          Holder shall not have the right to convert any portion of the Securities
          to the extent that after giving effect to such conversion the Holder
          (together with the Holder's Affiliates) would beneficially own in excess
          of 4.99% of the number of shares of Common Stock outstanding immediately
          after giving effect to such conversion.

             The
          initial Conversion Rate is 50.0000 shares of Common Stock per $1,000
          principal amount of Securities, or an effective initial Conversion Price
          of $20.00 per share, subject to adjustment as specified in the Indenture. 
          The Company will deliver a check in lieu of any fractional share.  On
          conversion no payment or adjustment for any unpaid and accrued interest
          with respect to the Securities will be made.  If a Holder surrenders
          a Security for conversion between the record date for the payment of
          interest and prior to the next interest payment date, such Security,
          when surrendered for conversion, must be accompanied by payment of an
          amount equal to the interest thereon which the registered Holder on
          such record date is to receive, unless the Securities have been called
          for redemption as described in the Indenture.

             Securities
          as to which a Purchase Notice has been given may be converted only if
          the applicable Purchase Notice has been withdrawn in accordance with
          the terms of this Indenture.

             To
          convert a Security, a Holder must (1) complete and sign the Conversion
          Notice, with appropriate signature guarantee, on the back of the Security,
          (2) surrender the Security to a Conversion Agent, (3) furnish appropriate
          endorsements and transfer documents if required by the Registrar or
          Conversion Agent, (4) pay the amount of interest, if any, the Holder
          may be paid as provided in the last sentence of the above paragraph
          and (5) pay any transfer or similar tax if 

        
          
        required.  A Holder may convert
          a portion of a Security if the portion is $1,000 principal amount or
          an integral multiple of $1,000 principal amount.

             Any
          shares issued upon conversion of a Security shall bear the Private Placement
          Legend until after the second anniversary of the later of the Issue
          Date and the last date on which the Company or any Affiliate of the
          Company was the owner of such shares or the Security (or any predecessor
          security) from which such shares were converted (or such shorter period
          of time as permitted by Rule 144(k) under the Securities Act or any
          successor provision thereunder) (or such longer period of time as may
          be required under the Securities Act or applicable state securities
          laws in the opinion of counsel for the Company, unless otherwise agreed
          by the Company and the Holder thereof).

             11.             
          Subordination.  The Securities are subordinated in right
          of payment, in the manner and to the extent set forth in the Indenture,
          to the prior payment in full of all Senior Indebtedness.  Each Holder
          by accepting a Security agrees to such subordination and authorizes
          the Trustee to give it effect.

             12.             
          Denominations, Transfer, Exchange.  The Securities are
          in registered form without coupons in denominations of $1,000 principal
          amount and integral multiples of $1,000 principal amount.  The transfer
          of Securities may be registered and Securities may be exchanged as provided
          in the Indenture.  The Registrar may require a Holder, among other things,
          to furnish appropriate endorsements and transfer documents.  No service
          charge shall be made for any such registration of transfer or exchange,
          but the Company may require payment of a sum sufficient to cover any
          tax or other governmental charge payable in connection therewith.  The
          Registrar need not exchange or register the transfer of any Security
          selected for redemption in whole or in part, except the unredeemed portion
          of Securities to be redeemed in part.  Also, it need not exchange or
          register the transfer of any Securities for a period of 15 days before
          the mailing of a notice of redemption of the Securities selected to
          be redeemed and in certain other circumstances provided in the Indenture.

             13.             
          Persons Deemed Owners.  The registered Holder of a Security
          may be treated as the owner of such Security for all purposes.

             14.             
          Merger or Consolidation.  The Company shall not consolidate
          with or merge with or into any other person or sell, convey, transfer,
          lease or otherwise dispose of its properties and assets substantially
          as an entirety to another person (whether in a single or series of related
          transactions) unless (i) such other person is a corporation organized
          under the laws of the United States, any State thereof or the District
          of Columbia; (ii) such person assumes by supplemental indenture all
          the obligations of the Company, under the Securities and this Indenture;
          and (iii) immediately after giving effect to the transaction, no Default
          or Event of Default shall exist.

             15.             
          Amendments, Supplements and Waivers.  Subject to certain
          exceptions, the Indenture or the Securities may be amended or supplemented
          with the consent of the Holders of at least a majority in aggregate
          principal amount of the Securities then outstanding, and any existing
          Default or Event of Default may be waived with the consent of the Holders
          of a majority in aggregate principal amount of the Securities then outstanding. 
          In accordance with the terms of the Indenture, without notice to or
          the consent of any Securityholder,
          the Indenture or the 

        
          
        Securities may be amended or
          supplemented to cure any ambiguity, defect, omission or inconsistency,
          to comply with Sections 5.01 and 10.12 of the Indenture,
          to make any changes or modifications to the Indenture necessary in connection
          with the registration of the Securities under the Securities Act pursuant
          to the Registration Rights Agreements and the qualification of the Indenture
          under the TIA, to secure the obligations of the Company in respect of
          the Securities, or to add to covenants of the Company described in the
          Indenture for the benefit of Securityholders or to surrender any right
          or power conferred upon the Company or to make provisions with respect
          to adjustments to the Conversion Rate as required by the Indenture or
          to increase the Conversion Rate in accordance with the Indenture.

             16.             
          Defaults and Remedies.  As more fully described in the
          Indenture, an Event of Default includes the occurrence of any of the
          following: default in payment of principal, when due, whether at maturity,
          upon redemption, upon exercise by the Holder of its right to require
          the Company to repurchase Securities on the Option Purchase Date, upon
          exercise of a Repurchase Right or otherwise; default for 30 days in
          payment of interest or liquidated damages; failure to provide timely
          notice of a Repurchase Event or Repurchase at Holder’s Option, as required;
          failure by the Company for 30 days after notice to it to comply with
          any of its other agreements in the Indenture or the Securities; certain
          payment defaults or the acceleration of other Indebtedness of the Company
          and its Subsidiaries; failure by the Company or any of its Subsidiaries
          to pay final judgments for certain amounts, which judgments are not
          paid, discharged, or stayed, for a period of 30 days; and certain events
          of bankruptcy or insolvency involving the Company or its Subsidiaries. 
          If any Event of Default occurs and is continuing, the Trustee or the
          Holders of at least 25% in aggregate principal amount of the Securities
          then outstanding may declare all the Securities to be due and payable
          immediately, except as provided in the Indenture.  If an Event of Default
          specified in Section 6.01(vii) or (viii) of the Indenture
          with respect to the Company occurs, the principal of and accrued interest
          on all the Securities shall ipso facto become and be immediately
          due and payable without any declaration or other act on the part of
          the Trustee or any Securityholder.  Securityholders may not enforce
          the Indenture or the Securities except as provided in the Indenture. 
          The Trustee may require indemnity reasonably satisfactory to it before
          it enforces the Indenture or the Securities.  Subject to certain limitations,
          Holders of a majority in principal amount of the Securities then outstanding
          may direct the Trustee in its exercise of any trust or power.  The Trustee
          may withhold from Securityholders notice of any continuing Default or
          Event of Default (except a Default or Event of Default in payment) if
          it determines that withholding notice is in the interests of the Securityholders. 
          The Company must furnish an annual compliance certificate to the Trustee.

             17.             
          Registration Rights.  The Holders are entitled to registration
          rights as set forth in the Registration Rights Agreements (as defined
          in the Indenture).  The Holders shall be entitled to receive liquidated
          damages in certain circumstances, all as set forth in the Registration
          Rights Agreements.

             18.             
          Trustee Dealings with the Company.  The Trustee under
          the Indenture, or any banking institution serving as successor Trustee
          thereunder, in its individual or any other capacity, may make loans
          to, accept deposits from, and perform services for the Company or its
          Affiliates, and may otherwise deal with the Company or its Affiliates,
          as if it were not Trustee.

        
          
             19.             
          No Recourse Against Others.  No past, present or future
          director, officer, employee or stockholder, as such, of the Company
          shall have any liability for any obligations of the Company under the
          Securities or the Indenture or for any claim based on, in respect of
          or by reason of such obligations or their creation.  Each Securityholder
          by accepting a Security waives and releases all such liability.  The
          waiver and release are part of the consideration for the issue of the
          Securities.

             20.             
          Authentication.  This Security shall not be valid until
          authenticated by the manual signature of the Trustee or an authenticating
          agent.

             21.             
          Abbreviations.  Customary abbreviations may be used in
          the name of a Securityholder or an assignee, such as: TEN COM (= tenants
          in common), TEN ENT (= tenants by the entirety), JT TEN (= joint tenants
          with right of survivorship and not as tenants in common), CUST (= Custodian),
          and U/G/M/A (Uniform Gifts to Minors Act).

             THE
          COMPANY WILL FURNISH TO ANY SECURITYHOLDER UPON WRITTEN REQUEST AND
          WITHOUT CHARGE A COPY OF THE INDENTURE AND THE REGISTRATION RIGHTS AGREEMENTS. 
          REQUESTS MAY BE MADE TO:

        Bradley Pharmaceuticals,
          Inc.

          383 Route 46 West

          Fairfield, New Jersey  07004

          Attention: R. Brent Lenczycki, Chief Financial Officer

      

       
          
      EXHIBIT D

      Form of Opinion of Counsel in Connection with Registration
        of Securities

      American Stock Transfer & Trust
        Company 

        59 Maiden Lane

        New York, New York 10038

        Attention: Corporate Trust
        Administration

      
        Re:       Bradley Pharmaceuticals, Inc. (the “Company”)
          4% Convertible Senior             Subordinated
          Notes due 2013 (the “Securities”)

      

      Ladies and Gentlemen:

           Reference
        is made to the Securities issued pursuant to a certain indenture dated
        as of June 11, 2003, as supplemented by the first supplemental indenture
        thereto (collectively, the “Indenture”) by and between
        the Company and American Stock Transfer & Trust Company, as trustee
        (the “Trustee”).  The Company issued $37,000,000 aggregate
        principal amount of Securities pursuant to the Indenture in transactions
        exempt from registration under the Securities Act of 1933, as amended
        (the “Securities Act”).  The Company has filed with the
        Securities and Exchange Commission (the “SEC”) a registration
        statement on Form S-3 (File No. 333-____) (the “Registration Statement”)
        relating to the registration under the Securities Act of $______________
        principal amount of the Securities and the shares of Common Stock of the
        Company (the “Shares”) issuable upon conversion of the
        Securities being registered.  The Registration Statement was declared
        effective by order of the SEC dated [_____________].

           We
        have acted as counsel for the Company in connection with the issuance
        of the Securities and the preparation and filing of the Registration Statement
        and are familiar with the Securities, the Indenture, the Registration
        Statement, the above-mentioned SEC order and such other documents as are
        necessary to render this opinion.

           Based
        on the foregoing, it is our opinion that (1) the Registration Statement
        has become effective under the Securities Act and, to our knowledge, no
        stop order suspending the effectiveness of the Registration Statement
        has been issued, (2) assuming that the Securities covered by the
        Registration Statement and the Shares issuable upon conversion of such
        Securities are sold by a Holder specified in the Registration Statement
        in a manner specified in the Registration Statement, such sale of the
        Securities and Shares issuable upon conversion of the Securities will
        have been duly registered under the Securities Act and (3) the
        Indenture has been duly qualified under the Trust Indenture Act of 1939,
        as amended.

      Yours truly,Exhibit 4.3

  	
        Exhibit 4.3

      
	
         

      
	
        REGISTRATION
          RIGHTS AGREEMENT

      
	
         

      
	
             THIS REGISTRATION RIGHTS AGREEMENT (the
          “Agreement”) is made and entered into as of June 11, 2003, by
          and between Bradley Pharmaceuticals, Inc., a Delaware corporation (the
          “Company”), and UBS Securities LLC (formerly, UBS Warburg LLC)
          and Raymond James & Associates, Inc. (collectively, the “Initial
          Purchasers”), for whom UBS Securities LLC is acting as representative,
          pursuant to that certain Purchase Agreement, dated as of June 6, 2003
          (the “Purchase Agreement”) between the Company and the Initial
          Purchasers.

      
	
         

      
	
             In order to induce the Initial Purchasers
          to enter into the Purchase Agreement, the Company has agreed to provide
          the registration rights set forth in this Agreement. The execution of
          this Agreement is a condition to the closing under the Purchase Agreement.

      
	
         

      
	
             The Company agrees with the Initial Purchasers
          (i) for their benefit as Initial Purchasers and (ii) for the benefit
          of the beneficial owners (including the Initial Purchasers) from time
          to time of the Notes (as defined herein) and the beneficial owners from
          time to time of the Underlying Common Stock (as defined herein) issued
          upon conversion of the Notes (each of the foregoing a “Holder”
          and together the “Holders”), as follows:

      
	
         

      
	
             Section 1.  Definitions.  Capitalized
          terms used herein without definition shall have their respective meanings
          set forth in the Purchase Agreement. As used in this Agreement, the
          following terms shall have the following meanings:

      
	
         

      
	
             “Affiliate” means with respect
          to any specified person, an “affiliate,” as defined in Rule 144, of
          such person.

      
	
         

      
	
             “Amendment Effectiveness Deadline
          Date” has the meaning set forth in Section 2(d) hereof.

      
	
         

      
	
             “Applicable Conversion Price”
          means, as of any date of determination, $1,000 divided by the Conversion
          Rate then in effect as of the date of determination or, if no Notes
          are then outstanding, the Conversion Rate that would be in effect were
          Notes then outstanding.

      
	
         

      
	
              “Business Day” means each day
          on which the New York Stock Exchange is open for trading. 

      
	
         

      
	
             “Common Stock” means the shares
          of common stock, par value $.01 per share, of the Company and any other
          shares of capital stock as may constitute “Common Stock” for
          purposes of the Indenture, including the Underlying Common Stock.

      
	
        
           

      
	
             “Conversion Rate” has the meaning
          assigned to such term in the Indenture.

      
	
         

      
	
             “Damages Accrual Period” has the
          meaning set forth in Section 2(e) hereof.

      
	
         

      
	
             “Damages Payment Date” means each
          interest payment date under the Indenture in the case of Notes, and
          each June 15 and December 15 in the case of the Underlying Common Stock.

      
	
         

      
	
             “Effectiveness Deadline Date”
          has the meaning set forth in Section 2(a) hereof.

      
	
         

      
	
             “Effectiveness Period” means a
          period (subject to extension pursuant to Section 3(i) hereof ) of two
          years after the later of (1) the original issuance of the Notes and
          (2) the last date that the Company or any of its Affiliates was the
          owner of such Notes (or any predecessor thereto), or such shorter period
          of time (x) as permitted by Rule 144(k) under the Securities Act or
          any successor provisions thereunder or (y) that will terminate when
          each of the Registrable Securities covered by the Shelf Registration
          Statement ceases to be a Registrable Security.

      
	
         

      
	
             “Event” has the meaning set forth
          in Section 2(e) hereof.

      
	
         

      
	
             “Event Date” has the meaning set
          forth in Section 2(e)hereof. 

      
	
         

      
	
             “Exchange Act” means the Securities
          Exchange Act of 1934, as amended, and the rules and regulations of the
          SEC promulgated thereunder.

      
	
         

      
	
             “Filing Deadline Date” has the
          meaning set forth in Section 2(a) hereof.

      
	
         

      
	
             “Holder” has the meaning set forth
          in the preamble hereto.

      
	
         

      
	
             “Indenture” means the Indenture,
          dated as of June 11, 2003 between the Company and American Stock Transfer
          & Trust Company, as trustee, pursuant to which the Notes are being
          issued.

      
	
         

      
	
             “Initial Purchasers” has the meaning
          set forth in the preamble hereto.

      
	
         

      
	
             “Initial Shelf Registration Statement”
          has the meaning set forth in Section 2(a) hereof.

      
	
         

      
	
             “Issue Date” means the first date
          of original issuance of the Notes.

      
	
         

      
	
             “Liquidated Damages Amount” has
          the meaning set forth in Section 2(e)hereof.

      
	
         

      
	
             “Managing Underwriters” has the
          meaning set forth in Section 8(a) hereof.

      
	
        
           

      
	
             “Material Event” has the meaning
          set forth in Section 3(i) hereof. 

      
	
         

      
	
             “NASD Rules” has the meaning set
          forth in Section 3(s) hereof.

      
	
         

      
	
             “Notes” means the 4% Convertible
          Senior Subordinated Notes due 2013 of the Company to be purchased pursuant
          to the Purchase Agreement. 

      
	
         

      
	
             “Notice and Questionnaire” means
          a written notice and questionnaire delivered to the Company containing
          substantially the information called for by the Selling Securityholder
          Notice and Questionnaire attached as Annex A to the Offering Memorandum
          dated June 6, 2003 relating to the Notes.

      
	
         

      
	
             “Notice Holder” means, on any
          date, any Holder that has delivered a Notice and Questionnaire to the
          Company on or prior to such date, so long as all of their Registrable
          Securities that have been registered for resale pursuant to a Notice
          and Questionnaire have not been sold in accordance with a Shelf Registration
          Statement.

      
	
         

      
	
             “Prospectus” means the prospectus
          included in any Shelf Registration Statement (including, without limitation,
          a prospectus that discloses information previously omitted from a prospectus
          filed as part of an effective registration statement in reliance upon
          Rule 415 promulgated under the Securities Act), as amended or supplemented
          by any amendment or prospectus supplement, including post-effective
          amendments, and all materials incorporated by reference or deemed to
          be incorporated by reference in such Prospectus.

      
	
         

      
	
             “Purchase Agreement” has the meaning
          set forth in the preamble hereof.

      
	
         

      
	
             “Record Holder” means (i) with
          respect to any Damages Payment Date relating to any Notes as to which
          any Liquidated Damages Amount has accrued, the holder of record of such
          Note on the record date with respect to the interest payment date under
          the Indenture on which such Damages Payment Date shall occur and (ii)
          with respect to any Damages Payment Date relating to the Underlying
          Common Stock as to which any Liquidated Damages Amount has accrued,
          the registered holder of such Underlying Common Stock fifteen (15) days
          prior to such Damages Payment Date.

      
	
         

      
	
             “Registrable Securities”
          means the Notes until such Notes have been converted into the Underlying
          Common Stock and, at all times the Underlying Common Stock and any securities
          into or for which such Underlying Common Stock has been converted, and
          any security issued with respect thereto upon any stock dividend, split
          or similar event until, in the case of any such security, the earliest
          of (x) the date on which such security has been effectively registered
          under the Securities Act and disposed of in accordance with the Registration
          Statement relating thereto and (y) the date that is two years after
          the later of (1) the original issuance of the Notes and (2) the last
          date that the Company or any of its Affiliates was the owner of such
          Notes (or any predecessor thereto), or such

        
           

         shorter period of time as permitted by Rule 144(k) under the Securities
          Act or any successor provisions thereunder.

      
	
         

      
	
             “Registration Expenses” has the
          meaning set forth in Section 5 hereof. 

      
	
         

      
	
             “Registration Statement” means
          any registration statement of the Company that covers any of the Registrable
          Securities pursuant to the provisions of this Agreement, including the
          Prospectus, amendments and supplements to such registration statement,
          including post-effective amendments, all exhibits, and all materials
          incorporated by reference or deemed to be incorporated by reference
          in such registration statement.

      
	
         

      
	
              “Rule 144” means Rule 144 under
          the Securities Act, as such Rule may be amended from time to time, or
          any similar rule or regulation hereafter adopted by the SEC.

      
	
         

      
	
             “Rule 144A” means Rule 144A under
          the Securities Act, as such Rule may be amended from time to time, or
          any similar rule or regulation hereafter adopted by the SEC.

      
	
         

      
	
             “SEC” means the Securities and
          Exchange Commission. 

      
	
         

      
	
             “Securities Act” means the Securities
          Act of 1933, as amended, and the rules and regulations promulgated by
          the SEC thereunder.

      
	
         

      
	
             “Shelf Registration Statement”
          means the Initial Shelf Registration Statement and any Subsequent Shelf
          Registration Statement.

      
	
         

      
	
             “Subsequent Shelf Registration Statement”
          has the meaning set forth in Section 2(b) hereof.

      
	
         

      
	
             “Subsequent Shelf Registration Statement
          Effectiveness Deadline Date” has the meaning set forth in Section
          2(d) hereof.

      
	
         

      
	
             “Suspension Notice” has the meaning
          set forth in  Section 3(i) hereof.

      
	
         

      
	
             “Suspension Period” has the meaning
          set forth in Section 3(i) hereof.

      
	
         

      
	
             “TIA” means the Trust Indenture
          Act of 1939, as amended. 

      
	
         

      
	
             “Trustee” means American Stock
          Transfer & Trust Company, the trustee under the Indenture.

      
	
         

      
	
             “Underlying Common Stock” means
          the Common Stock into which the Notes are convertible or issued upon
          any such conversion.

      
	
         

      
	
             Section 2.  Shelf Registration. 
          (a) The Company shall prepare and file or cause to be prepared and filed
          with the SEC, as soon as practicable but in any event by the date (the
          “Filing Deadline Date”) that is ninety (90) days after
          the Issue Date, a Registration Statement for an offering to be made
          on a delayed or continuous basis pursuant to Rule 415 of the Securities
          Act registering the resale from time to time by Holders thereof of all
          of the Registrable Securities (or, if registration of Registrable Securities
          not held by Notice Holders is not permitted by the rules and regulations
          of the SEC, then registering all Registrable Securities held by Notice
          Holders) (the “Initial Shelf Registration Statement”).
          The Initial Shelf Registration Statement shall be on Form S-1 or S-3
          or another appropriate form permitting registration of such Registrable
          Securities for resale by such Holders in accordance with the reasonable
          methods of distribution elected by the Holders, approved by the Company,
          and set forth in the Initial Shelf Registration Statement. The Company
          shall use its best efforts to cause the Initial Shelf Registration Statement
          to be declared effective under the Securities Act as promptly as is
          practicable but in any 

        
           

        event by the date (the “Effectiveness Deadline Date”)
          that is one hundred eighty (180) days after the Issue Date, and to keep
          the Initial Shelf Registration Statement (or any Subsequent Shelf Registration
          Statement) continuously effective under the Securities Act until the
          expiration of the Effectiveness Period. At the time the Initial Shelf
          Registration Statement is declared effective, each Holder that became
          a Notice Holder prior to the date of effectiveness shall be named as
          a selling securityholder in the Initial Shelf Registration Statement
          and the related Prospectus in such a manner as to permit such Holder
          to deliver such Prospectus to purchasers of Registrable Securities in
          accordance with applicable law.

      
	
         

      
	
             (b)           
          If the Initial Shelf Registration Statement or any Subsequent
          Shelf Registration Statement ceases to be effective for any reason at
          any time during the Effectiveness Period, the Company shall use its
          best efforts to obtain the prompt withdrawal of any order suspending
          the effectiveness thereof, and in any event shall within thirty (30)
          days of such cessation of effectiveness amend the Shelf Registration
          Statement in a manner reasonably expected to obtain the withdrawal of
          the order suspending the effectiveness thereof, or file an additional
          Shelf Registration Statement covering all of the securities that as
          of the date of such filing are Registrable Securities (or, if registration
          of Registrable Securities not held by Notice Holders is not permitted
          by the rules and regulations of the SEC, then registering all Registrable
          Securities held by Notice Holders) (a “Subsequent Shelf Registration
          Statement”). If a Subsequent Shelf Registration Statement is filed,
          the Company shall use its best efforts to cause the Subsequent Shelf
          Registration Statement to become effective as promptly as is practicable
          after such filing, but in no event later than the Subsequent Shelf Registration
          Statement Effectiveness Deadline, and to keep such Shelf Registration
          Statement (or subsequent Shelf Registration Statement) continuously
          effective until the end of the Effectiveness Period.

      
	
         

      
	
             (c)           
          The Company shall supplement and amend any Shelf Registration
          Statement if required by the rules, regulations or instructions applicable
          to the registration form used by the Company for such Shelf Registration
          Statement, if 

        
           

        required by the Securities Act or as reasonably requested by the Initial
          Purchasers or by the Trustee on behalf of the Holders of the Registrable
          Securities covered by such Shelf Registration Statement.

      
	
         

      
	
             (d)                
          (i)  Each Holder of Registrable Securities agrees that if such
          Holder wishes to sell Registrable Securities pursuant to a Shelf Registration
          Statement and related Prospectus, it will do so only in accordance with
          this Section 2(d) and Section 3(i).  Each Holder of Registrable Securities
          wishing to sell Registrable Securities pursuant to a Shelf Registration
          Statement and related Prospectus agrees to deliver a completed and executed
          Notice and Questionnaire to the Company prior to any attempted or actual
          distribution of Registrable Securities under a Shelf Registration Statement. 
          With respect to any Holder who delivers a completed and executed Notice
          and Questionnaire on or after the date the Initial Shelf Registration
          Statement is declared effective, the Company shall, as promptly as practicable
          after the date a Notice and Questionnaire is delivered, and in any event,
          subject to clause (B) below, within the later of (x) five (5) Business
          Days after such date or (y) five (5) Business Days after the expiration
          of any Suspension Period (1) in effect when the Notice and Questionnaire
          is delivered or (2) put into effect within five (5) Business Days of
          such delivery date, 

      
	
         

      
	
                  (A)  if
          required by applicable law, file with the SEC a supplement to the related
          Prospectus or a post-effective amendment to the Shelf Registration Statement
          or a Subsequent Shelf Registration Statement and any necessary supplement
          or amendment to any document incorporated therein by reference to the
          applicable Shelf Registration Statement and file any other required
          document with the SEC so that the Holder delivering such Notice and
          Questionnaire is named as a selling securityholder in a Shelf Registration
          Statement and the related Prospectus in such a manner as to permit such
          Holder to deliver such Prospectus to purchasers of the Registrable Securities
          in accordance with applicable law.  

      
	
         

      
	
                  (B) 
          if the Company shall file a post-effective amendment to the Shelf Registration
          Statement or file a Subsequent Shelf Registration Statement, it shall
          use its best efforts to cause such post-effective amendment or Subsequent
          Shelf Registration Statement, as the case may be, to be declared effective
          under the Securities Act as promptly as is practicable, but in any event
          by the date (the “Amendment Effectiveness Deadline Date”
          in the case of a post-effective amendment or the “Subsequent
          Shelf Registration Statement Effectiveness Deadline Date” in
          the case of a Subsequent Shelf Registration Statement) that is thirty
          (30) days after the date such post-effective amendment or Subsequent
          Shelf Registration Statement, as the case may be, is required by this
          Section 2(d) to be filed; provided, however, that if a
          post-effective amendment or a Subsequent Shelf Registration Statement
          is required by the rules and regulations of the SEC in order to permit
          resales by Holders submitting Notice and Questionnaires on or after
          the date of effectiveness of the Initial Shelf Registration Statement,
          the Company shall not be required to file more than one 

        
           

        post-effective amendment or Subsequent Shelf Registration Statement
          for such purpose in any thirty (30) day period; 

      
	
         

      
	
                  (C)  the
          Company shall provide such Holder a reasonable number of copies of any
          documents filed pursuant to Sections 2(d)(i)(A) and 2(d)(i)(B); and
        

      
	
         

      
	
                  (D)  the
          Company shall notify such Holder as promptly as practicable after the
          effectiveness under the Securities Act of any post-effective amendment
          or Subsequent Shelf Registration Statement filed pursuant to Sections
          2(d)(i)(A) and 2(d)(i)(B); 

      
	
         

      
	
                  (E)  if
          a Notice and Questionnaire is delivered during a Suspension Period,
          or a Suspension Period is put into effect within five (5) Business Days
          after such delivery date, the Company shall so inform the Holder delivering
          such Notice and Questionnaire and shall take the actions set forth in
          clauses (A), (B), (C) and (D) above within five (5) Business Days after
          expiration of the Suspension Period in accordance with Section 3(i);
        

      
	
         

      
	
                  (F)  if
          under applicable law, the Company has more than one option as to the
          type or manner of making any such filing, the Company shall make the
          required filing or filings in the manner or of a type that is reasonably
          expected to result in the earliest availability of a Prospectus for
          effecting resales of Registrable Securities.  

      
	
         

      
	
                       (ii) 
          Notwithstanding anything contained herein to the contrary, the Company
          shall be under no obligation to name any Holder that is not a Notice
          Holder as a selling securityholder in any Shelf Registration Statement
          or related Prospectus; provided, however, that any Holder
          that becomes a Notice Holder pursuant to the provisions of this Section
          2(d) (whether or not such Holder was a Notice Holder at the time the
          Shelf Registration Statement was declared effective) shall be named
          as a selling securityholder in a Shelf Registration Statement or related
          Prospectus in accordance with the requirements of this Section 2(d).

      
	
         

      
	
             (e)           
          The parties hereto agree that the Holders of Registrable Securities
          will suffer damages, and that it would not be feasible to ascertain
          the extent of such damages with precision, if (i) the Initial Shelf
          Registration Statement has not been filed on or prior to the Filing
          Deadline Date, (ii) the Initial Shelf Registration Statement has not
          been declared effective under the Securities Act on or prior to the
          Effectiveness Deadline Date, (iii) either a supplement to a prospectus,
          a post-effective amendment or a Subsequent Shelf Registration Statement
          is required to be filed and fails to be filed within the prescribed
          period set forth in Section 2(d) (the applicable date being an “Additional
          Filing Deadline Date”) or in the case of a post-effective amendment
          or a Subsequent Shelf Registration Statement, such post-effective amendment
          or Subsequent Registration Statement is not declared effective by the
          SEC by the Amendment Effectiveness Deadline Date or the Subsequent Shelf
          Registration Statement Effectiveness Deadline Date, as the case 

        
           

        may be, or (iv) the Initial Shelf Registration Statement or any Subsequent
          Registration Statement is filed and declared effective but shall thereafter
          cease to be effective (without being succeeded immediately by a new
          registration statement filed and declared effective) or usable for the
          offer and sale of Registrable Securities for a period of time (including
          any Suspension Period) which shall exceed thirty (30) days in the aggregate
          in any three (3) month period or sixty (60) days in the aggregate in
          any twelve (12) month period (each of the events of a type described
          in any of the foregoing clauses (i) through (iv) are individually referred
          to herein as an “Event,” and the Filing Deadline Date
          in the case of clause (i), the Effectiveness Deadline Date in the case
          of clause (ii), the Additional Filing Deadline Date, the Amendment Effectiveness
          Deadline Date or the Subsequent Shelf Registration Statement Effectiveness
          Deadline Date, as the case may be, in the case of clause (iii) and the
          date on which the duration of the ineffectiveness or unusability of
          the Shelf Registration Statement in any period exceeds the number of
          days permitted by clause (iv) hereof in the case of clause (iv), being
          referred to herein as an “Event Date”). Events shall
          be deemed to continue until the following dates with respect to the
          respective types of Events: the date the Initial Shelf Registration
          Statement is filed in the case of an Event of the type described in
          clause (i), the date the Initial Shelf Registration Statement is declared
          effective under the Securities Act in the case of an Event of the type
          described in clause (ii), the date a post-effective amendment to the
          Initial Shelf Registration Statement or Subsequent Shelf Registration
          Statement, whichever is required, is filed or declared effective, as
          the case may be, in the case of an Event of the type described in clause
          (iii) and the date the Shelf Registration Statement becomes effective
          or usable again in the case of an Event of the type described in clause
          (iv).

      
	
         

      
	
             Accordingly, commencing on (and including)
          any Event Date and ending on (but excluding) the next date on which
          there are no Events that have occurred and are continuing (a “Damages
          Accrual Period”), the Company agrees to pay, as liquidated
          damages and not as a penalty, an amount (the “Liquidated Damages
          Amount”) at the rate described below, payable periodically
          on each Damages Payment Date to Notice Holders, to the extent of, for
          each such Damages Payment Date, accrued and unpaid Liquidated Damages
          Amount to (but excluding) such Damages Payment Date (or, if the Damages
          Accrual Period shall have ended prior to such Damages Payment Date,
          the date of the end of the Damages Accrual Period); provided
          that liquidated damages payable in case of an Event described in clause
          (iii) of the preceding paragraph shall be payable only to any Notice
          Holders who would be named as selling securityholders pursuant to the
          Prospectus supplement, post-effective amendment to the Shelf Registration
          Statement or Subsequent Shelf Registration Statement, as the case may
          be, which gave rise to such Event; and provided, further, that any Liquidated
          Damages Amount accrued with respect to any Note or portion thereof called
          for redemption on a redemption date or converted into Underlying Common
          Stock on a conversion date prior to the Damages Payment Date, shall,
          in any such event, be paid instead to the Holder who submitted such
          Note or portion thereof for 

        
           

        redemption or conversion on the applicable redemption date or conversion
          date, as the case may be, on such date (or promptly following the conversion
          date, in the case of conversion).  The Liquidated Damages Amount
          with respect to Notes shall accrue at a rate per annum equal to one-quarter
          of one percent (0.25%) per $1000 principal amount of the Notes for the
          first 90-day period from the Event Date, increasing with respect to
          each subsequent 90-day period thereafter by an additional one-quarter
          of one percent (0.25%) of the aggregate principal amount of the Notes,
          up to a maximum rate per year of one percent (1.0%) of the aggregate
          principal amount of the Notes; and the Liquidated Damages Amount with
          respect to Common Stock issued upon conversion of the Notes shall accrue
          at an equivalent rate determined based upon the Conversion Rate. 
          Notwithstanding the foregoing, no Liquidated Damages Amounts shall accrue
          as to any Registrable Security from and after the earlier of (x) the
          date such security is no longer a Registrable Security and (y) expiration
          of the Effectiveness Period.  The rate of accrual of the Liquidated
          Damages Amount with respect to any period shall not exceed the rate
          provided for in this paragraph notwithstanding the occurrence of multiple
          concurrent Events.  Following the cure of all Events requiring
          the payment by the Company of Liquidated Damages Amounts to the Holders
          of Registrable Securities pursuant to this Section, the accrual of Liquidated
          Damages Amounts shall cease (without in any way limiting the effect
          of any subsequent Event requiring the payment of Liquidated Damages
          Amount by the Company).The Trustee shall be entitled, on behalf of Holders
          of Notes, to seek any available remedy for the enforcement of this Agreement,
          including for the payment of any Liquidated Damages Amount.  Notwithstanding
          the foregoing, the parties agree that the sole damages payable for a
          violation of the terms of this Agreement with respect to which liquidated
          damages are expressly provided shall be such liquidated damages.

      
	
         

      
	
             All of the Company’s obligations set
          forth in this Section 2(e) that are outstanding with respect to any
          Registrable Security at the time such security ceases to be a Registrable
          Security shall survive until such time as all such obligations with
          respect to such security have been satisfied in full (notwithstanding
          termination of this Agreement pursuant to Section 9(m)). 

      
	
         

      
	
             The parties hereto agree that the liquidated
          damages provided for in this Section 2(e) constitute a reasonable estimate
          of the damages that may be incurred by Holders of Registrable Securities
          by reason of the failure of a Shelf Registration Statement to be filed,
          declared effective, amended or replaced to include the names of all
          Notice Holders or available for effecting resales of Registrable Securities
          in accordance with the provisions hereof.

      
	
         

      
	
             Section 3.  Registration Procedures. 
          In connection with the registration obligations of the Company under
          Section 2 hereof, the Company shall:

      
	
         

      
	
             (a)           
          Prepare and file with the SEC a Shelf Registration Statement
          or Shelf Registration Statements on Form S-1 or S-3 or any other appropriate
          form under the Securities Act available for the sale of the Registrable
          Securities by the 

        
           

        Holders thereof in accordance with the intended method or methods of
          distribution thereof, and use its best efforts to cause each such Shelf
          Registration Statement to become effective and remain effective as provided
          herein; provided that before filing any Shelf Registration Statement
          or Prospectus or any amendments or supplements thereto with the SEC,
          the Company shall furnish to the Initial Purchasers and counsel for
          the Holders and for the Initial Purchasers (or, if applicable, separate
          counsel for the Holders) copies of all such documents proposed to be
          filed and use its reasonable best efforts to reflect in each such document
          when so filed with the SEC such comments as the Initial Purchasers or
          such counsel reasonably shall propose within three (3) Business Days
          of the delivery of such copies to the Initial Purchasers and such counsel.

      
	
         

      
	
             (b)           
          Prepare and file with the SEC such amendments and post-effective
          amendments to each Shelf Registration Statement as may be necessary
          to keep such Shelf Registration Statement or Subsequent Shelf Registration
          Statement continuously effective until the expiration of the Effectiveness
          Period; cause the related Prospectus to be supplemented by any required
          Prospectus supplement, and as so supplemented to be filed pursuant to
          Rule 424 (or any similar provisions then in force) under the Securities
          Act; and use its best efforts to comply with the provisions of the Securities
          Act applicable to it with respect to the disposition of all securities
          covered by such Shelf Registration Statement during the Effectiveness
          Period in accordance with the intended methods of disposition by the
          sellers thereof set forth in such Shelf Registration Statement as so
          amended or such Prospectus as so supplemented.

      
	
         

      
	
             (c)           
          As promptly as practicable give notice to the Notice Holders,
          the Initial Purchasers and counsel for the Holders and for the Initial
          Purchasers (or, if applicable, separate counsel for the Holders) (i)
          when any Prospectus, Prospectus supplement, Shelf Registration Statement
          or post-effective amendment to a Shelf Registration Statement has been
          filed with the SEC and, with respect to a Shelf Registration Statement
          or any post-effective amendment or when the same has been declared effective,
          (ii) of any request, following the effectiveness of a Shelf Registration
          Statement under the Securities Act, by the SEC or any other federal
          or state governmental authority for amendments or supplements to such
          Shelf Registration Statement or the related Prospectus or for additional
          information, (iii) of the issuance by the SEC or any other federal or
          state governmental authority of any stop order suspending the effectiveness
          of any Shelf Registration Statement or the initiation or threatening
          of any proceedings for that purpose, (iv) of the receipt by the Company
          or its legal counsel of any notification with respect to the suspension
          of the qualification or exemption from qualification of any of the Registrable
          Securities for sale in any jurisdiction or the initiation or threatening
          of any proceeding for such purpose, (v) after the effective date of
          any Shelf Registration Statement filed pursuant to this Agreement of
          the occurrence of (but not the nature of or details concerning) a Material
          Event and (vi) of the determination by the Company that a post-effective
          amendment to a Shelf Registration Statement or a Subsequent Shelf Registration
          Statement will be filed 

        
           

        with the SEC, which notice may, at the discretion of the Company (or
          as required pursuant to Section 3(i)), state that it constitutes a Suspension
          Notice, in which event the provisions of Section 3(i) shall apply.

      
	
         

      
	
             (d)           
          Use its reasonable best efforts to prevent the issuance of, and,
          if issued, to obtain the withdrawal of any order suspending the effectiveness
          of a Shelf Registration Statement or the lifting of any suspension of
          the qualification (or exemption from qualification) of any of the Registrable
          Securities for sale in any jurisdiction in which they have been qualified
          for sale, in either case at the earliest possible moment, and provide
          prompt notice to each Notice Holder and the Initial Purchasers of the
          withdrawal of any such order.

      
	
         

      
	
             (e)           
          If reasonably requested by the Initial Purchasers or any Notice
          Holder, as promptly as practicable incorporate in a Prospectus supplement
          or a post-effective amendment to a Shelf Registration Statement such
          information as the Initial Purchasers, such Notice Holder or counsel
          for the Holders and for the Initial Purchasers (or, if applicable, separate
          counsel for the Holders) shall determine to be required to be included
          therein by applicable law and make any required filings of such Prospectus
          supplement or such post-effective amendment; provided that the
          Company shall not be required to take any actions under this Section
          3(e) that, in the written opinion of counsel for the Company, are not
          in compliance with applicable law.

      
	
         

      
	
             (f)           
          As promptly as practicable furnish to each Notice Holder, counsel
          for the Holders and for the Initial Purchasers (or, if applicable, separate
          counsel for the Holders) and the Initial Purchasers, without charge,
          at least one (1) conformed copy of any Shelf Registration Statement
          and any amendment thereto, including financial statements but excluding
          schedules, all documents incorporated or deemed to be incorporated therein
          by reference and all exhibits (unless requested in writing to the Company
          by such Notice Holder, such counsel or the Initial Purchasers).

      
	
         

      
	
             (g)           
          During the Effectiveness Period, deliver to each Notice Holder,
          counsel for the Holders and for the Initial Purchasers (or, if applicable,
          separate counsel for the Holders) and the Initial Purchasers, in connection
          with any sale of Registrable Securities pursuant to a Shelf Registration
          Statement, without charge, as many copies of the Prospectus or Prospectuses
          relating to such Registrable Securities (including each preliminary
          prospectus) and any amendment or supplement thereto as such Notice Holder
          and the Initial Purchasers may reasonably request; and the Company hereby
          consents (except during such periods that a Suspension Notice is outstanding
          and has not been revoked) to the use of such Prospectus or each amendment
          or supplement thereto by each Notice Holder, in connection with any
          offering and sale of the Registrable Securities covered by such Prospectus
          or any amendment or supplement thereto in the manner set forth therein.

      
	
        
           

      
	
             (h)           
          Prior to any public offering of the Registrable Securities pursuant
          to a Shelf Registration Statement, use its reasonable best efforts to
          register or qualify or cooperate with the Notice Holders in connection
          with the registration or qualification (or exemption from such registration
          or qualification) of such Registrable Securities for offer and sale
          under the securities or Blue Sky laws of such jurisdictions within the
          United States as any Notice Holder reasonably requests in writing (which
          request may be included in the Notice and Questionnaire); prior to any
          public offering of the Registrable Securities pursuant to a Shelf Registration
          Statement, use its reasonable best efforts to keep each such registration
          or qualification (or exemption therefrom) effective during the Effectiveness
          Period in connection with such Notice Holder’s offer and sale of Registrable
          Securities pursuant to such registration or qualification (or exemption
          therefrom) and do any and all other acts or things reasonably necessary
          or advisable to enable the disposition in such jurisdictions of such
          Registrable Securities in the manner set forth in the relevant Shelf
          Registration Statement and the related Prospectus; provided that
          the Company will not be required to (i) qualify generally to do business
          in any jurisdiction where it is not then so qualified or (ii) take any
          action that would subject it to general service of process in suits
          or to taxation in any such jurisdiction where it is not then so subject.

      
	
         

      
	
             (i)           
          Upon (A) the issuance by the SEC of a stop order suspending the
          effectiveness of any Shelf Registration Statement or the initiation
          of proceedings with respect to any Shelf Registration Statement under
          Section 8(d) or 8(e) of the Securities Act, (B) the occurrence of any
          event or the existence of any fact as a result of which any Shelf Registration
          Statement shall contain any untrue statement of a material fact or omit
          to state any material fact required to be stated therein or necessary
          to make the statements therein not misleading, or any Prospectus shall
          contain any untrue statement of a material fact or omit to state any
          material fact necessary in order to make the statements therein, in
          the light of the circumstances under which they were made, not misleading,
          or (C) the occurrence or existence of any pending corporate development
          (a “Material Event”) that, in the reasonable discretion
          of the Company, makes it appropriate to suspend the availability of
          any Shelf Registration Statement and the related Prospectus, (i) in
          the case of clause (B) or (C) above, subject to the next sentence, as
          promptly as practicable, prepare and file, if necessary pursuant to
          applicable law, a post-effective amendment to such Shelf Registration
          Statement or a supplement to the related Prospectus or any document
          incorporated therein by reference or file any other required document
          that would be incorporated by reference into such Shelf Registration
          Statement and Prospectus so that such Shelf Registration Statement does
          not contain any untrue statement of a material fact or omit to state
          any material fact required to be stated therein or necessary to make
          the statements therein not misleading, and such Prospectus does not
          contain any untrue statement of a material fact or omit to state any
          material fact necessary in order to make the statements therein, in
          the light of the circumstances under which they were made, not misleading
          (it being understood that the Company may rely on information provided
          by each Notice Holder with respect to such 

        
           

        Notice Holder), as thereafter delivered to the purchasers of the Registrable
          Securities being sold thereunder, and, in the case of a post-effective
          amendment to a Shelf Registration Statement, subject to the next sentence,
          use its reasonable best efforts to cause it to be declared effective
          as promptly as is practicable, and (ii) give notice to the Notice Holders
          and counsel for the Holders and for the Initial Purchasers (or, if applicable,
          separate counsel for the Holders) that the availability of the Shelf
          Registration Statement is suspended (a “Suspension Notice”)
          and, upon receipt of any Suspension Notice, each Notice Holder agrees
          not to sell any Registrable Securities pursuant to such Shelf Registration
          Statement until such Notice Holder’s receipt of copies of the supplemented
          or amended Prospectus provided for in clause (i) above, or until it
          is advised in writing by the Company that the Prospectus may be used,
          and has received copies of any additional or supplemental filings that
          are incorporated or deemed incorporated by reference in such Prospectus.
          The Company will use its reasonable best efforts to ensure that the
          use of the Prospectus may be resumed (x) in the case of clause (A) above,
          as promptly as is practicable, (y) in the case of clause (B) above,
          as soon as, in the reasonable judgment of the Company, the Shelf Registration
          Statement does not contain any untrue statement of a material fact or
          omit to state any material fact required to be stated therein or necessary
          to make the statements therein not misleading and the Prospectus does
          not contain any untrue statement of a material fact or omit to state
          any material fact necessary in order to make the statements therein,
          in the light of the circumstances under which they were made, not misleading,
          and (z) in the case of clause (C) above, as soon as, in the reasonable
          discretion of the Company, such suspension is no longer appropriate.
          The period during which the availability of the Shelf Registration Statement
          and any Prospectus may be suspended (the “Suspension Period”)
          without the Company incurring any obligation to pay liquidated damages
          pursuant to Section 2(e) shall not exceed thirty (30) days in any three
          (3) month period and an aggregate of sixty (60) days in any twelve (12)
          month period.  The Effectiveness Period shall be extended by the
          number of days from and including the date of the giving of the Suspension
          Notice to and including the date on which the Notice Holder received
          copies of the supplemented or amended Prospectus provided in clause
          (i) above, or the date on which it is advised in writing by the Company
          that the Prospectus may be used, and has received copies of any additional
          or supplemental filings that are incorporated or deemed incorporated
          by reference in such Prospectus.

      
	
         

      
	
             (j)           
          Make available for inspection during normal business hours by
          representatives for the Notice Holders of such Registrable Securities
          and any underwriters participating in any disposition pursuant to any
          Shelf Registration Statement and any broker-dealers, attorneys and accountants
          retained by such Notice Holders or any such underwriters, all relevant
          financial and other records and pertinent corporate documents and properties
          of the Company and its subsidiaries, and cause the appropriate officers,
          directors and employees of the Company and its subsidiaries to make
          available for inspection during normal business hours all relevant information
          reasonably requested by such 

        
           

        representatives for the Notice Holders, or any such underwriters, broker-dealers,
          attorneys or accountants in connection with such disposition, in each
          case as is customary for similar “due diligence” examinations;
          provided, however, that such persons shall, at the Company’s
          request, first agree in writing with the Company that any information
          that is reasonably and in good faith designated by the Company in writing
          as confidential at the time of delivery of such information shall be
          kept confidential by such persons and shall be used solely for the purposes
          of exercising rights under this Agreement, unless (i) disclosure of
          such information is required by court or administrative order or is
          necessary to respond to inquiries of governmental or regulatory authorities,
          (ii) disclosure of such information is required by law (including any
          disclosure requirements pursuant to federal securities laws in connection
          with the filing of any Shelf Registration Statement or the use of any
          Prospectus referred to in this Agreement) or necessary to defend or
          prosecute a claim brought against or by any such persons (e.g., to establish
          a “due diligence” defense), (iii) such information becomes
          generally available to the public other than as a result of a disclosure
          or failure to safeguard by any such person or (iv) such information
          becomes available to any such person from a source other than the Company
          and such source is not bound by a confidentiality agreement or is not
          otherwise under a duty of trust to the Company, and provided
          that the foregoing inspection and information gathering shall, to the
          greatest extent possible, be coordinated on behalf of all the Notice
          Holders and the other parties entitled thereto by the counsel referred
          to in Section 5.

      
	
         

      
	
             (k)           
          Comply with all applicable rules and regulations of the SEC and
          make generally available to its securityholders earning statements (which
          need not be audited) satisfying the provisions of Section 11(a) of the
          Securities Act and Rule 158 thereunder (or any similar rule promulgated
          under the Securities Act) no later than 45 days after the end of any
          12-month period (or 90 days after the end of any 12-month period if
          such period is a fiscal year) commencing on the first day of the first
          fiscal quarter of the Company commencing after the effective date of
          a Shelf Registration Statement, which statements shall cover said 12-month
          periods.

      
	
         

      
	
             (l)           
          Cooperate with each Notice Holder to facilitate the timely preparation
          and delivery of certificates representing Registrable Securities sold
          pursuant to a Shelf Registration Statement, which certificates shall
          not bear any restrictive legends, and cause such Registrable Securities
          to be in such denominations as are permitted by the Indenture and registered
          in such names as such Notice Holder may request in writing at least
          (2) Business Days prior to any sale of such Registrable Securities.

      
	
         

      
	
             (m)           
          Provide a CUSIP number for all Registrable Securities covered
          by a Shelf Registration Statement not later than the effective date
          of the Initial Shelf Registration Statement and provide the Trustee
          and the transfer agent for the Common Stock with certificates for the
          Registrable Securities that are in a form eligible for deposit with
          The Depository Trust Company.

      
	
        
           

      
	
             (n)           
          Cooperate and assist in any filings required to be made with
          the National Association of Securities Dealers, Inc.

      
	
         

      
	
             (o)           
          Upon (i) the filing of the Initial Registration Statement and
          (ii) the effectiveness of the Initial Registration Statement, announce
          the same, in each case by release to PR Business Newswire or other equivalent
          means of dissemination reasonably expected to make such information
          publicly known.

      
	
         

      
	
             (p)           
          Take all actions and enter into such customary agreements (including,
          if requested, an underwriting agreement in customary form) as are necessary,
          or reasonably requested by the holders of a majority of the Registrable
          Securities being sold, in order to expedite or facilitate disposition
          of such Registrable Securities; and in such connection, whether or not
          an underwriting agreement is entered into and whether or not the registration
          is an underwritten registration:

      
	
         

      
	
                  (i)        
          the Company shall make such representations and warranties to the Holders
          of such Registrable Securities and the underwriters, if any, in form,
          substance and scope as has been customarily made by the Company to underwriters
          in similar offerings of securities of the Company;

      
	
         

      
	
                  (ii)       
          the Company shall obtain opinions of counsel of the Company and updates
          thereof (which counsel and opinions (in form, scope and substance) shall
          be reasonably satisfactory to the managing underwriters, if any, and
          to the counsel to the Holders of the Registrable Securities being sold)
          addressed to each selling Holder and the underwriters, if any, covering
          the matters customarily covered in opinions requested in sales of securities
          or underwritten offerings of the Company;

      
	
         

      
	
                  (iii)      
          the Company shall obtain “cold comfort” letters and updates thereof
          from the Company’s independent certified public accountants (and, if
          necessary, any other independent certified public accountants of any
          subsidiary of the Company or of any business acquired by the Company
          for which financial statements are, or are required to be, included
          in any Shelf Registration Statement) addressed to the underwriters,
          if any, and use reasonable best efforts to have such letter addressed
          to the selling Holders of Registrable Securities (to the extent consistent
          with Statement on Auditing Standards No. 72 of the American Institute
          of Certified Public Accounts), such letters to be in customary form
          and covering matters of the type customarily covered in “cold comfort”
          letters to underwriters in connection with similar underwritten offerings
          of the Company;

      
	
         

      
	
                  (iv)      
          the Company shall, if an underwriting agreement is entered into, cause
          the same to set forth indemnification provisions and procedures substantially
          equivalent to the indemnification provisions and procedures set forth
          in Section 6 hereof with respect to the underwriters and all other parties
          to be indemnified pursuant to said Section; and

      
	
        
           

      
	
                       (v)       
          the Company shall deliver such documents and certificates as may be
          reasonably requested and as are customarily delivered in similar offerings
          to the holders of a majority of the Registrable Securities being sold
          and the managing underwriters, if any;

      
	
         

      
	
        the above to be done at (x) the
          effectiveness of any Shelf Registration Statement (and each post-effective
          amendment thereto) and (y) each closing under any underwriting or similar
          agreement as and to the extent required thereunder.

      
	
         

      
	
             (q)           
          Cause the Indenture to be qualified under the TIA not later than
          the effective date of the Initial Shelf Registration Statement; and
          in connection therewith, cooperate with the Trustee to effect such changes
          to the Indenture as may be required for the Indenture to be so qualified
          in accordance with the terms of the TIA and execute, and use its reasonable
          best efforts to cause the Trustee to execute, all documents as may be
          required to effect such changes, and all other forms and documents required
          to be filed with the SEC to enable the Indenture to be so qualified
          in a timely manner.

      
	
         

      
	
             (r)        Use its best efforts to cause
          the Underlying Common Stock to be listed on the New York Stock Exchange.

      
	
         

      
	
             Section 4.  Holder’s Obligations. 
          Each Holder agrees, by acquisition of the Registrable Securities, that
          no Holder of Registrable Securities shall be entitled to sell any of
          such Registrable Securities pursuant to a Shelf Registration Statement
          or to receive a Prospectus relating thereto, unless such Holder has
          furnished the Company with a Notice and Questionnaire as required pursuant
          to Section 2(d) hereof (including the information required to be included
          in such Notice and Questionnaire) and the information set forth in the
          next sentence. Each Notice Holder agrees promptly to furnish to the
          Company all information required to be disclosed in order to make the
          information previously furnished to the Company by such Notice Holder
          not misleading and any other information regarding such Notice Holder
          and the distribution of such Registrable Securities as the Company may
          from time to time reasonably request. Any sale of any Registrable Securities
          by any Holder shall constitute a representation and warranty by such
          Holder that the information relating to such Holder and its plan of
          distribution is as set forth in the Prospectus delivered by such Holder
          in connection with such disposition, that such Prospectus does not as
          of the time of such sale contain any untrue statement of a material
          fact relating to or provided by such Holder or its plan of distribution
          and that such Prospectus does not as of the time of such sale omit to
          state any material fact relating to or provided by such Holder or its
          plan of distribution necessary in order to make the statements in such
          Prospectus, in the light of the circumstances under which they were
          made, not misleading.

      
	
         

      
	
             Section 5.  Registration Expenses. 
          The Company shall bear all fees and expenses incurred in connection
          with the performance by the Company of its obligations under Section
          2 and 3 of this Agreement whether or not any of the 

        
           

        Shelf Registration Statements are filed or declared effective. Such
          fees and expenses (“Registration Expenses”) shall include,
          without limitation, (i) all registration and filing fees and expenses
          (including, without limitation, fees and expenses (x) with respect to
          filings required to be made with the National Association of Securities
          Dealers, Inc. and (y) of compliance with federal securities laws and
          state securities or Blue Sky laws (including, without limitation, reasonable
          fees and disbursements of counsel for the Holders in connection with
          Blue Sky qualifications of the Registrable Securities under the laws
          of such jurisdictions as the Notice Holders of a majority of the Registrable
          Securities being sold pursuant to a Shelf Registration Statement may
          designate), (ii) all printing expenses (including, without limitation,
          expenses of printing certificates for Registrable Securities in a form
          eligible for deposit with The Depository Trust Company and printing
          Prospectuses), (iii) all duplication and mailing expenses relating to
          copies of any Shelf Registration Statement or Prospectus delivered to
          any Holders hereunder, (iv) all fees and disbursements of counsel for
          the Company and the fees and disbursements of one counsel for the Holders
          in connection with the Shelf Registration Statement, (v) all fees and
          disbursements of the Trustee and its counsel and of the registrar and
          transfer agent for the Common Stock and (vi) Securities Act liability
          insurance obtained by the Company in its sole discretion. In addition,
          the Company shall pay the internal expenses of the Company (including,
          without limitation, all salaries and expenses of officers and employees
          performing legal or accounting duties), the expense of any annual audit,
          the fees and expenses incurred in connection with the listing by the
          Company of the Registrable Securities on any securities exchange on
          which similar securities of the Company are then listed and the fees
          and expenses of any person, including special experts, retained by the
          Company. 

      
	
         

      
	
             Section 6.  Indemnification; Contribution. 
        

      
	
         

      
	
             (a)           
          The Company agrees to indemnify, defend and hold harmless each
          Initial Purchaser, each Holder, each person, if any, who controls any
          Initial Purchaser or Holder within the meaning of Section 15 of the
          Securities Act or Section 20 of the Exchange Act (a “Controlling
          Person”) and the respective officers, directors, partners, employees,
          representatives and agents of the Initial Purchasers, the Holders or
          any Controlling Person (each, an “Indemnified Party”),
          from and against any loss, damage, expense, liability, claim or any
          actions in respect thereof (including the reasonable cost of investigation)
          which such Indemnified Party may incur or become subject to under the
          Securities Act, the Exchange Act or otherwise, insofar as such loss,
          damage, expense, liability, claim or action arises out of or is based
          upon any untrue statement or alleged untrue statement of a material
          fact contained in any Shelf Registration Statement or Prospectus, including
          any document incorporated by reference therein, or in any amendment
          or supplement thereto or in any preliminary prospectus, or arises out
          of or is based upon any omission or alleged omission to state a material
          fact required to be stated in any Shelf Registration Statement or in
          any amendment or supplement thereto or necessary to make the statements
          therein not misleading, or 

        
           

        arises out of or is based upon any omission or alleged omission to
          state a material fact necessary in order to make the statements made
          in any Prospectus or in any amendment or supplement thereto or in any
          preliminary prospectus, in the light of the circumstances under which
          they were made, not misleading, and the Company shall reimburse, as
          incurred, the Indemnified Parties for any legal or other expenses reasonably
          incurred by them in connection with investigating or defending any such
          loss, damage, expense, liability, claim or action in respect thereof;
          provided, however, that (i) insofar as any such loss,
          damage, expense, liability, claim or action arises out of or is based
          upon any untrue statement or omission or alleged untrue statement or
          omission of a material fact contained in, or omitted from, and in conformity
          with information furnished in writing by or on behalf of any Initial
          Purchaser or Holder to the Company expressly for use therein and (ii)
          with respect to any untrue statement or omission or alleged untrue statement
          or omission made in any preliminary prospectus relating to a Shelf Registration
          Statement, the indemnity agreement contained in this subsection (a)
          shall not inure to the benefit of any Holder from whom the person asserting
          any such losses, damages, expenses, liabilities, claims or actions purchased
          the Registrable Securities concerned, to the extent that a prospectus
          relating to such Registrable Securities was required to be delivered
          by Such Holder under the Securities Act in connection with such purchase
          and any such loss, damage, expense, liability, claim or action of such
          Holder results from the fact that there was not sent or given to such
          person, at or prior to the written confirmation of the sale of such
          Registrable Securities to such person, a copy of the final prospectus
          if the Company had previously furnished copies thereof to such Holder;
          provided further, however, that this indemnity
          agreement will be in addition to any liability which the Company may
          otherwise have to such Indemnified Party.

      
	
         

      
	
             (b)           
          Each Holder, severally and not jointly, agrees to indemnify,
          defend and hold harmless the Company, its directors, officers, employees,
          representatives, agents and any person who controls the Company within
          the meaning of Section 15 of the Securities Act or Section 20 of the
          Exchange Act (each, a “Company Indemnified Party”)
          from and against any loss, damage, expense, liability, claim or any
          actions in respect thereof (including the reasonable cost of investigation)
          which such Company Indemnified Party may incur or become subject to
          under the Securities Act, the Exchange Act or otherwise, insofar as
          such loss, damage, expense, liability, claim or action arises out of
          or is based upon any untrue statement or alleged untrue statement of
          a material fact contained in information furnished in writing by or
          on behalf of such Holder to the Company expressly for use in any Shelf
          Registration Statement or Prospectus, including any document incorporated
          by reference therein, or in any amendment or supplement thereto or in
          any preliminary prospectus, or arises out of or is based upon any omission
          or alleged omission to state a material fact required to be stated in
          any Shelf Registration Statement or in any amendment 

        
           

        or supplement thereto or necessary to make the statements therein not
          misleading, or arises out of or is based upon any omission or alleged
          omission to state a material fact necessary in order to make the statements
          in any Prospectus or in any amendment or supplement thereto or in any
          preliminary prospectus, in the light of the circumstances under which
          they were made, not misleading, in connection with such information;
          and, subject to the limitation set forth immediately preceding this
          clause, each Holder shall reimburse, as incurred, the Company for any
          legal or other expenses reasonably incurred by the Company or any such
          controlling person in connection with investigating or defending any
          loss, damage, expense, liability, claim or action in respect thereof. 
          This indemnity agreement will be in addition to any liability which
          such Holder may otherwise have to the Company or any of its controlling
          persons.  In no event shall the liability of any selling Holder
          of Registrable Securities hereunder be greater in amount than the dollar
          amount of the proceeds received by such Holder upon the sale of the
          Registrable Securities pursuant to the Shelf Registration Statement
          giving rise to such indemnification obligation.

      
	
         

      
	
             (c)           
          If any action, suit or proceeding (each, a “Proceeding”)
          is brought against any person in respect of which indemnity may be sought
          pursuant to either subsection (a) or (b) of this Section 6, such person
          (the “Indemnified Party”) shall promptly notify the
          person against whom such indemnity may be sought (the “Indemnifying
          Party”) in writing of the institution of such Proceeding and
          the Indemnifying Party shall assume the defense of such Proceeding;
          provided, however, that the omission to notify such Indemnifying
          Party shall not relieve such Indemnifying Party from any liability which
          it may have to such Indemnified Party or otherwise.  Such Indemnified
          Party shall have the right to employ its own counsel in any such case,
          but the fees and expenses of such counsel shall be at the expense of
          such Indemnified Party unless the employment of such counsel shall have
          been authorized in writing by such Indemnifying Party in connection
          with the defense of such Proceeding or such Indemnifying Party shall
          not have employed counsel to have charge of the defense of such Proceeding
          within 30 days of the receipt of notice thereof or such Indemnified
          Party shall have reasonably concluded upon the written advice of counsel
          that there may be one or more defenses available to it that are different
          from, additional to or in conflict with those available to such Indemnifying
          Party (in which case such Indemnifying Party shall not have the right
          to direct that portion of the defense of such Proceeding on behalf of
          the Indemnified Party, but such Indemnifying Party may employ counsel
          and participate in the defense thereof but the fees and expenses of
          such counsel shall be at the expense of such Indemnifying Party), in
          any of which events such reasonable fees and expenses shall be borne
          by such Indemnifying Party and paid as incurred (it being understood,
          however, that such Indemnifying Party shall not be liable for the expenses
          of more than one separate counsel in any one Proceeding or series of
          related Proceedings together with reasonably necessary local counsel
          representing the Indemnified Parties who are parties to such action). 
          An Indemnifying Party shall not be liable for any settlement of such
          Proceeding effected without the written consent of such Indemnifying
          Party, but if settled with the written consent of such Indemnifying
          Party, such Indemnifying Party agrees to indemnify and hold harmless
          an Indemnified Party from and against any loss or liability by reason
          of such settlement.  Notwithstanding the

        
           

         foregoing sentence, if at any time an Indemnified Party shall have
          requested an Indemnifying Party to reimburse such Indemnified Party
          for fees and expenses of counsel as contemplated by the second sentence
          of this paragraph, then such Indemnifying Party agrees that it shall
          be liable for any settlement of any Proceeding effected without its
          written consent if (i) such settlement is entered into more than 60
          Business Days after receipt by such Indemnifying Party of the aforesaid
          request, (ii) such Indemnifying Party shall not have reimbursed such
          Indemnified Party in accordance with such request prior to the date
          of such settlement and (iii) such Indemnified Party shall have given
          such Indemnifying Party at least 30 days’ prior notice of its intention
          to settle.  No Indemnifying Party shall, without the prior written
          consent of any Indemnified Party, effect any settlement of any pending
          or threatened Proceeding in respect of which such Indemnified Party
          is or could have been a party and indemnity could have been sought hereunder
          by such Indemnified Party, unless such settlement includes an unconditional
          release of such Indemnified Party from all liability on claims that
          are the subject matter of such Proceeding and does not include an admission
          of fault, culpability or a failure to act, by or on behalf of such Indemnified
          Party.

      
	
         

      
	
             (d)           
          If the indemnification provided for in this Section 6 is unavailable
          to an Indemnified Party under subsections (a) and (b) of this Section
          6 in respect of any losses, damages, expenses, liabilities, claims or
          actions referred to therein, then each applicable Indemnifying Party,
          in lieu of indemnifying such Indemnified Party, shall contribute to
          the amount paid or payable by such Indemnified Party as a result of
          such losses, damages, expenses, liabilities, claims or actions (i) in
          such proportion as is appropriate to reflect the relative benefits received
          by the Company on the one hand and the Holders or the Initial Purchasers
          on the other hand from the offering of the Registrable Securities or
          (ii) if the allocation provided by clause (i) above is not permitted
          by applicable law, in such proportion as is appropriate to reflect not
          only the relative benefits referred to in clause (i) above but also
          the relative fault of the Company on the one hand and of the Holders
          or the Initial Purchasers on the other in connection with the statements
          or omissions which resulted in such losses, damages, expenses, liabilities,
          claims or actions, as well as any other relevant equitable considerations. 
          The relative fault of the Company on the one hand and of the Holders
          or any Initial Purchaser on the other shall be determined by reference
          to, among other things, whether the untrue statement or alleged untrue
          statement of a material fact or omission or alleged omission relates
          to information supplied by the Company or by the Holders or such Initial
          Purchaser and the parties’ relative intent, knowledge, access to information
          and opportunity to correct or prevent such statement or omission.  The
          amount paid or payable by a party as a result of the losses, damages,
          expenses, liabilities, claims and actions referred to above shall be
          deemed to include any reasonable legal or other fees or expenses reasonably
          incurred by such party in connection with investigating or defending
          any Proceeding.

      
	
        
           

      
	
             (e)           
          The Company, the Holders and the Initial Purchasers agree that
          it would not be just and equitable if contribution pursuant to this
          Section 6 were determined by pro rata allocation or by any other method
          of allocation which does not take account of the equitable considerations
          referred to in subsection (d) above.  Notwithstanding the provisions
          of this Section 6, no Holder shall be required to contribute any amount
          in excess of the amount by which the total price at which the Registrable
          Securities sold by it were offered to the public exceeds the amount
          of any damages which it has otherwise been required to pay by reason
          of such untrue or alleged untrue statement or omission or alleged omission. 
          No person guilty of fraudulent misrepresentation (within the meaning
          of Section 11(f) of the Securities Act) shall be entitled to contribution
          from any person who was not guilty of such fraudulent misrepresentation. 
          The Holders’ respective obligations to contribute pursuant to this Section
          6 are several in proportion to the respective amount of Registrable
          Securities they have sold pursuant to a Shelf Registration Statement,
          and not joint.  The remedies provided for in this Section 6 are not
          exclusive and shall not limit any rights or remedies which may otherwise
          be available to any indemnified party at law or in equity.

      
	
         

      
	
             (f)           
          The indemnity and contribution provisions contained in this Section
          6 shall remain operative and in full force and effect regardless of
          (i) any termination of this Agreement, (ii) any investigation made by
          or on behalf of any Holder or Initial Purchaser or any person controlling
          any Holder or Initial Purchaser, or the Company, or the Company’s officers
          or directors or any person controlling the Company and (iii) the sale
          of any Registrable Security by any Holder.

      
	
         

      
	
             Section 7.  Information Requirements. 
          (a) The Company covenants that, if at any time before the end of the
          Effectiveness Period it is not subject to the reporting requirements
          of the Exchange Act, it will cooperate with any Holder of Registrable
          Securities and take such further action as any Holder of Registrable
          Securities may reasonably request in writing (including, without limitation,
          making such representations as any such Holder may reasonably request),
          all to the extent required from time to time to enable such Holder to
          sell Registrable Securities without registration under the Securities
          Act within the limitations of the exemptions provided by Rule 144, 
          Rule 144A, Regulation S and Regulation D under the Securities Act and
          customarily taken in connection with sales pursuant to such exemptions.
          Upon the written request of any Holder of Registrable Securities, the
          Company shall deliver to such Holder a written statement as to whether
          it has complied with the reporting requirements of the Exchange Act,
          unless such a statement has been included in the Company’s most recent
          report filed with the SEC pursuant to Section 13 or Section 15(d) of
          Exchange Act. Notwithstanding the foregoing, nothing in this Section
          7 shall be deemed to require the Company to register any of its securities
          (other than the Common Stock) under any section of the Exchange Act.

      
	
         

      
	
             (b)           
          The Company shall file the reports required to be filed by it
          under the Exchange Act and shall comply with all other requirements
          set forth in the 

        
           

        instructions to Form S-1 or Form S-3, as the case may be, in order
          to allow the Company to be eligible to file registration statements
          on Form S-1 or Form S-3.

      
	
         

      
	
             Section
          8.  Underwritten Registrations.  

      
	
         

      
	
             (a)       
          If any of the Registrable Securities covered by
          the Shelf Registration Statement are to be sold in an underwritten offering,
          the investment banker or investment bankers and manager or managers
          that will administer the offering (“Managing Underwriters”) will
          be selected by the holders of a majority in aggregate principal amount
          of such Registrable Securities to be included in such offering (provided
          that holders of Common Stock issued upon conversion of the Notes shall
          not be deemed holders of Common Stock, but shall be deemed to be holders
          of the aggregate principal amount of Notes from which such Common Stock
          was converted).

      
	
         

      
	     (b)       
        No person may participate in any underwritten registration hereunder unless
        such person (i) agrees to sell such person's Registrable Securities on
        the basis reasonably provided in any underwriting arrangements approved
        by the persons entitled hereunder to approve such arrangements and (ii)
        completes and executes all questionnaires, powers of attorney, indemnities,
        underwriting agreements and other documents reasonably required under
        the terms of such underwriting arrangements.
	
         

      
	
        Section 9.  Miscellaneous.

      
	
         

      
	
             (a)           
          Remedies.  The Company acknowledges and agrees
          that any failure by the Company to comply with its obligations under
          this Agreement may result in material irreparable injury to the Initial
          Purchasers or the Holders for which there is no adequate remedy at law,
          that it will not be possible to measure damages for such injuries precisely
          and that, in the event of any such failure, the Initial Purchasers or
          any Holder may obtain such relief as may be required to specifically
          enforce the Company's obligations under this Agreement.  The Company
          further agrees to waive the defense in any action for specific performance
          that a remedy at law would be adequate.  This Section 9(a) shall not
          apply to Section 2(e).

      
	
         

      
	
             (b)           
          No Conflicting Agreements.  The Company is not, as of
          the date hereof, a party to, nor shall it, on or after the date of this
          Agreement, enter into, any agreement with respect to its securities
          that conflicts with the rights granted to the Holders of Registrable
          Securities in this Agreement.  The Company represents and warrants that
          the rights granted to the Holders of Registrable Securities hereunder
          do not in any way conflict with the rights granted to the holders of
          the Company’s securities under any other agreements.  

      
	
         

      
	
             (c)           
          Amendments and Waivers. The provisions of this Agreement,
          including the provisions of this sentence, may not be amended, modified
          or supplemented, and waivers or consents to departures from the provisions
          hereof 

        
           

        may not be given, unless the Company has obtained the written consent
          of Holders of a majority in aggregate principal amount of such Registrable
          Securities (provided that holders of Common Stock
          issued upon conversion of the Notes shall not be deemed holders of Common
          Stock, but shall be deemed to be holders of the aggregate principal
          amount of Notes from which such Common Stock was converted);
          provided that, no consent is necessary from any of the
          Holders in the event that this Agreement is amended, modified or supplemented
          for the purpose of curing any ambiguity, defect or inconsistency that
          does not adversely affect the rights of any Holders.  Notwithstanding
          the foregoing, a waiver or consent to depart from the provisions hereof
          with respect to a matter that relates exclusively to the rights of Holders
          of Registrable Securities whose securities are being sold pursuant to
          a Shelf Registration Statement and that does not directly or indirectly
          affect the rights of other Holders of Registrable Securities may be
          given by Holders of at least a majority of the Registrable Securities
          being sold by such Holders pursuant to such Shelf Registration Statement;
          provided that the provisions of this sentence may not be amended,
          modified, or supplemented except in accordance with the provisions of
          the immediately preceding sentence. Each Holder of Registrable Securities
          outstanding at the time of any such amendment, modification, supplement,
          waiver or consent or thereafter shall be bound by any such amendment,
          modification, supplement, waiver or consent effected pursuant to this
          Section 9(c), whether or not any notice, writing or marking indicating
          such amendment, modification, supplement, waiver or consent appears
          on the Registrable Securities or is delivered to such Holder.

      
	
         

      
	
             (d)           
          Notices. All notices and other communications provided
          for or permitted hereunder shall be made in writing by hand delivery,
          by telecopier, by courier guaranteeing overnight delivery or by first-class
          mail, return receipt requested, and shall be deemed given (i) when made,
          if made by hand delivery, (ii) upon confirmation, if made by telecopier,
          (iii) one (1) Business Day after being deposited with such courier,
          if made by overnight courier or (iv) on the date indicated on the notice
          of receipt, if made by first-class mail, to the parties as follows:

      
	
         

      
	
             (x)        if to a Holder of Registrable
          Securities, at the most current address given by such Holder to the
          Company in a Notice and Questionnaire or any amendment thereto;

      
	
         

      
	
             (y)        if to the Company, to:

      
	
         

      
	
                      Bradley
          Pharmaceuticals, Inc.

      
	
                      383
          Route 46 West

                        Fairfield, NJ 08816

      
	             
        Attention: Brent Lenczycki
	
                      Telecopy
          No. (973) 575-5366

      
	
         

      

          
	
             (z)     if
          to the Initial Purchasers, to:

      
	
                      c/o
          UBS Securities LLC

      
	
                      299
          Park Avenue

      
	
                      New
          York, New York 10171

      
	
                      Attention:
          Syndicate Department

      
	
                      Telecopy
          No.: (212) 713-1205

      
	
         

      
	
                      with
          a copy to (for informational purposes only):

      
	
         

      
	
                      c/o
          UBS Securities LLC

      
	
                      299
          Park Avenue

      
	
                      New
          York, New York 10171

      
	
                      Attention:
          Legal Department

      
	
                      Telecopy
          No.: (212) 821-4042

      
	
         

      
	
                      c/o
          UBS Securities LLC

      
	
                      677
          Washington Boulevard

      
	
                      Stamford,
          Connecticut 06901

      
	
                      Attention:
          Syndicate Department

      
	
                      Telecopy
          No.: (203) 719-7031

      
	
         

      
	
                      with
          a copy to (for informational purposes only):

      
	
         

      
	
                      c/o
          UBS Securities LLC

      
	
                      677
          Washington Boulevard

      
	
                      Stamford,
          Connecticut 06901

      
	
                      Attention:
          Legal Department

      
	
                      Telecopy
          No.: (203) 719-0683

      
	
         

      
	
        or to such other address as
          such person may have furnished to the other persons identified in this
          Section 9(d) in writing in accordance herewith.

      
	
         

      
	
              (e)           
          Approval of Holders. Whenever the consent or approval
          of Holders of a specified percentage of Registrable Securities is required
          hereunder, Registrable Securities held by the Company or its affiliates
          (as such term is defined in Rule 405 under the Securities Act) (other
          than the Initial Purchasers or subsequent Holders of Registrable Securities
          if such subsequent Holders are deemed to be such affiliates solely by
          reason of their holdings of such Registrable Securities) shall not be
          counted in determining whether such consent or approval was given by
          the Holders of such required percentage.

      
	
         

      
	
              (f)           
          Third Party Beneficiaries.  The Holders shall be
          third party beneficiaries to the agreements made hereunder between the
          Company, on the one hand, and the Initial Purchasers, on the other hand,
          and shall have the right to enforce such agreements directly to the
          extent they may deem such enforcement necessary or advisable to protect
          their rights or the rights of Holders hereunder.

      
	
         
           

      
	
              (g)           
          Successors and Assigns. Any person who purchases any Registrable
          Securities from the Initial Purchasers or any Holder shall be deemed,
          for purposes of this Agreement, to be an assignee of the Initial Purchasers
          or such Holder, as the case may be. This Agreement shall inure to the
          benefit of and be binding upon the successors and assigns of each of
          the parties and shall inure to the benefit of and be binding upon each
          Holder of any Registrable Securities.

      
	
         

      
	
              (h)           
          Counterparts/Facsimile. This Agreement may be executed
          by facsimile in any number of counterparts and by the parties hereto
          in separate counterparts, each of which when so executed shall be deemed
          to be original and all of which taken together shall constitute one
          and the same agreement.

      
	
         

      
	
              (i)           
          Headings.  The headings in this Agreement are for convenience
          of reference only and shall not limit or otherwise affect the meaning
          hereof.

      
	
         

      
	
              (j)           
          Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND
          CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT
          REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.

      
	
         

      
	
              (k)           
          Severability.  If any term, provision, covenant or restriction
          of this Agreement is held to be invalid, illegal, void or unenforceable,
          the remainder of the terms, provisions, covenants and restrictions set
          forth herein shall remain in full force and effect and shall in no way
          be affected, impaired or invalidated thereby, and the parties hereto
          shall use its best efforts to find and employ an alternative means to
          achieve the same or substantially the same result as that contemplated
          by such term, provision, covenant or restriction, it being intended
          that all of the rights and privileges of the parties shall be enforceable
          to the fullest extent permitted by law.

      
	
         

      
	
              (l)           
          Entire Agreement. This Agreement is intended by the parties
          as a final expression of their agreement and is intended to be a complete
          and exclusive statement of the agreement and understanding of the parties
          hereto in respect of the subject matter contained herein and the registration
          rights granted by the Company with respect to the Registrable Securities.
          Except as provided in the Purchase Agreement, there are no restrictions,
          promises, warranties or undertakings, other than those set forth or
          referred to herein, with respect to the registration rights granted
          by the Company with respect to the Registrable Securities. This Agreement
          supersedes all prior agreements and undertakings among the parties with
          respect to such registration rights. No party hereto shall have any
          rights, duties or obligations other than those specifically set forth
          in this Agreement. 

      
	
         

      
	
              (m)           
          Termination. This Agreement and the obligations of the
          parties hereunder shall terminate upon the end of the Effectiveness
          Period, except for any liabilities or obligations under Section 4, 5
          or 6 hereof and the obligations to make payments of and provide for
          liquidated damages under Section 2(e) hereof to the 

        
           

        extent such damages accrue prior to the end of the Effectiveness Period,
          each of which shall remain in effect in accordance with its terms.

      
	
         

      
	
              (n)           
          Submission to Jurisdiction. Except as set forth below,
          no Proceeding may be commenced, prosecuted or continued in any court
          other than the courts of the State of New York located in the City and
          County of New York or in the United States District Court for the Southern
          District of New York, which courts shall have jurisdiction over the
          adjudication of such matters, and the Company hereby consents to the
          jurisdiction of such courts and personal service with respect thereto. 
          The Company hereby consents to personal jurisdiction, service and venue
          in any court in which any Proceeding arising out of or in any way relating
          to this Agreement is brought by any third party against the Initial
          Purchasers.  The Company hereby waives all right to trial by jury in
          any Proceeding (whether based upon contract, tort or otherwise) in any
          way arising out of or relating to this Agreement.  The Company agrees
          that a final judgment in any such Proceeding brought in any such court
          shall be conclusive and binding upon the Company and may be enforced
          in any other courts in the jurisdiction of which the Company is or may
          be subject, by suit upon such judgment.  

      

  
   

  	
             IN WITNESS WHEREOF, the parties have
          executed this Agreement as of the date first written above.

  

  

  	 	 	BRADLEY PHARMACEUTICALS,
        INC.
	 	By:	_/s/ R. Brent Lenczycki_________
	 	 	Name:	R. Brent Lenczycki
	 	 	Title:	Chief Financial Officer

  

  	
        Confirmed and accepted as of
          the date

          first above written on behalf of the Initial 

          Purchasers.

      
	
         

      
	
        By:       UBS SECURITIES LLC

      
	
         

      
	
        By:_/s/ Daniel H. Klausner_________

      
	
              Name: Daniel H. Klausner

      
	
              Title:   Executive Director

      
	
         

      
	
        By:_/s/ Shiv Vasisht______________

      
	
              Name: Shiv Vasisht

      
	
              Title:   Associate Director

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