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Title: |
Agency Agreement |
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Date: |
2002 |
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Preview shows 4KB of 49KB total |
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$43 |
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ID: |
#932020 |
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<DOCUMENT>
<TYPE>EX-10.33
<SEQUENCE>5
<FILENAME>ex10-33.txt
<DESCRIPTION>AGENCY AGREEMENT
<TEXT>
AGENCY AGREEMENT
March 21, 2002
Life Medical Sciences, Inc.
P.O. Box 219
Little Silver, NJ 07739
U.S.A
Attention: Mr. Robert P. Hickey
Chairman, President and Chief Executive Officer
Dear Sirs:
Re: Offering of Units
Clubb BioCapital Limited (the "Agent"), understands that Life Medical Sciences,
Inc. (the "Corporation"), a Delaware corporation, proposes to issue to investors
secured by the Agent, up to 1,000,000 units ("Units"), each consisting of one
share of the Corporation's Series B Convertible Preferred Stock (a "Preferred
Share"), par value of $0.01 per share, one warrant (a "Series B Warrant") to
purchase up to ten shares of the Corporation's Common Stock, par value $0.001,
("Shares") at an exercise price of $0.24 per Share, exercisable at any time
until the later of the date which is two years after the date of the Warrant and
the date which is 18 months after the date upon which the Corporation implements
an increase to its authorized Shares to an amount sufficient to permit the
conversion or exercise of all presently outstanding securities of the
Corporation (including securities to be sold in the offering) convertible into
or exchangeable for Shares (the "Authorized Capital Increase"), and one
additional warrant (an "Additional Warrant") to purchase up to ten Shares at an
exercise price of $0.12 per Share, exercisable for a period commencing on the
date of issue and expiring on June 30, 2002, or in the event that the Authorized
Capital Increase has not been implemented by May 31, 2002, on the date which is
six months after the implementation of the Authorized Capital Increase. The
Units shall be issued and sold at a price of $1.20 per Unit or such other price
as may be agreed by the Agent and the Corporation (in either case the "Issue
Price") and in substantially the form set forth in Appendices I through III to
the form of subscription agreement attached hereto as Schedule "C" (the
"Subscription Agreement"). The offering of the Units (the "Offering") will close
no later than March 29, 2002, or such other date mutually agreed to by the
Corporation and the Agent (the "Closing Date").
1. Appointment
The Corporation hereby appoints the Agent as its non-exclusive agent and the
Agent accepts the appointment and agrees to act on a "best efforts" basis as the
non-exclusive agent of the Corporation to secure investors for the issuance of
the Units by way of private placement to
<PAGE>
2
institutional and other sophisticated investors in Europe subject to the terms
and conditions and in reliance upon the representations, warranties and
covenants of the Corporation set out in this Agreement.
The Agent shall be entitled to retain sub-agents selected by it to participate
in the soliciting of offers to purchase the Units, provided that the Agent
receives from each such sub-agent its agreement to be bound by the obligations
of the Agent hereunder prior to any such appointment. The fees payable to such
sub-agents shall be the responsibility and for the account of the Agent.
2. Sales Restrictions
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