BMP Sunstone CORP
EXHIBIT 10.2
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<TYPE>EX-10.2
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<DESCRIPTION>EXHIBIT 10.2
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.2</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FIRST SUPPLEMENTAL INDENTURE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FIRST
SUPPLEMENTAL INDENTURE, dated as of April 15, 2009, between BMP Sunstone Corporation, a
corporation duly organized and existing under the laws of the State of Delaware (herein called the
&#147;<U>Company</U>&#148;), having its principal office at 600 W. Germantown Pike, Suite&nbsp;400, Plymouth
Meeting, Pennsylvania 19462, and The Bank of New York Mellon, as trustee (herein called the
&#147;<U>Trustee</U>&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">WITNESSETH
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company heretofore executed and delivered to the Trustee (i)&nbsp;an Indenture dated
as of March&nbsp;16, 2009 (as may be supplemented or amended from time to time by one or more additional
indentures supplemental thereto entered into pursuant to the applicable provisions thereof, being
hereinafter called the &#147;<U>Indenture</U>&#148;; all capitalized terms used herein which are not
otherwise defined herein have the meanings ascribed thereto in the Indenture), providing for the
issuance of the Company&#146;s unsecured debentures, notes or other evidences of indebtedness (herein
called the &#147;<U>Securities</U>&#148;) and (ii)&nbsp;an Officer&#146;s Certificate Pursuant to Section&nbsp;3.01 of the
Indenture, dated March&nbsp;16, 2009 (herein called the &#147;<U>Officer&#146;s Certificate</U>&#148;), setting forth
the terms and forms of the series of Securities titled, &#147;12.5% Subordinated Convertible Notes due
July&nbsp;1, 2011&#148; (the &#147;<U>Notes</U>&#148;); and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Section&nbsp;9.02 of the Indenture provides that the Company and the Trustee may amend
certain provisions of the Indenture or the Securities with the consent of the Holders of the
Outstanding Securities of each series affected by such amendments by Act of said Holders delivered
to the Company and the Trustee, and such consent has been obtained; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company desires to amend certain provisions of the Officer&#146;s Certificate, as set
forth in Article&nbsp;I hereof; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, all things necessary to make this First Supplemental Indenture a valid agreement of
the Company, in accordance with its terms, have been done;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH, that, for and in consideration
of the premises, the Company agrees with the Trustee as follows:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AMENDMENTS OF INDENTURE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1.01 <U>Effect</U>. The amendments set forth in this Article&nbsp;I shall apply only in
respect of the Notes created pursuant to the Indenture and the Officer&#146;s Certificate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1.02 <U>Amendments</U>.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Subject to Section&nbsp;1.01 hereof, the covenant applicable to the Notes as set forth in
Paragraph 19(b) of the Officer&#146;s Certificate is hereby amended and restated as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&#147;Notwithstanding anything to the contrary contained herein if, at any time (the
&#147;<U>Triggering Event</U>&#148;), the aggregate number of Common Shares then issued upon
conversion of the Notes (including any shares of capital stock or rights to acquire shares of capital stock issued by the Company which are aggregated or integrated
with the Common Shares issued or issuable upon conversion of the Notes for purposes
of such rule) equals 19.99% of the Outstanding Common Amount (as hereinafter
defined), the Notes (1)&nbsp;shall, from that time forward, cease to be convertible into
Common Shares in accordance with the terms of Paragraph 19(a) above, unless the
Company has obtained approval (&#147;<U>Shareholder Approval</U>&#148;) of the issuance of
the Common Shares upon conversion of the Notes by a majority of the total votes cast
on such proposal, in person or by proxy, by the holders of the then outstanding
Common Shares (not including (x)&nbsp;any Common Shares held by present or former holders
of Notes that were issued upon conversion of Notes or (y)&nbsp;any shares of capital
stock or rights to acquire shares of capital stock issued by the Company that are
held by present or former holders of such shares of capital stock or rights to
acquire shares of capital stock which are aggregated or integrated with the Common
Shares issued or issuable upon conversion of the Notes for purposes of Rule 4350(i)
of the Nasdaq Stock Market, Inc. (&#147;<U>Nasdaq</U>&#148;)), and (2)&nbsp;shall, from that time
forward, be convertible into such Holder&#146;s pro rata share of the Maximum Share
Amount (as hereinafter defined). If the Triggering Event occurs, the Company shall
promptly seek Shareholder Approval. For purposes of this paragraph,
&#147;<U>Outstanding Common Amount</U>&#148; means (i)&nbsp;the number of Common Shares
outstanding on the date immediately prior to the earliest date of issuance of the
Notes or any shares of capital stock or rights to acquire shares of capital stock
issued by the Company which are aggregated or integrated with the Common Shares
issued or issuable upon conversion of the Notes for purposes of such rule plus (ii)
any additional shares of Common Shares issued thereafter in respect of such shares
pursuant to a stock dividend, stock split or similar event. The maximum number of
Common Shares issuable as a result of the 19.99% limitation set forth herein is
hereinafter referred to as the &#147;<U>Maximum Share Amount</U>.&#148; With respect to each
Holder of Notes, the Maximum Share Amount shall refer to such Holder&#146;s pro rata
share thereof based on the principal amount of Notes then held by such Holder
relative to the total aggregate principal amount of Notes then outstanding plus the
value of any shares of capital stock or rights to acquire shares of capital stock
issued by the Company which are aggregated or integrated with the Common Shares
issued or issuable upon conversion of the Notes for purposes of Rule&nbsp;4350(i). In
the event that the Company obtains Shareholder Approval, the number of shares that
the Notes convert into will be as set forth in paragraph 19(a) above (such increased
number being the &#147;<U>New Maximum Share Amount</U>&#148;) and the references to Maximum
Share Amount, above, shall be deemed to be, instead, references to the greater New
Maximum Share Amount. In the event that Shareholder Approval is not obtained, the
Maximum Share Amount shall remain unchanged.&#148;
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Subject to Section&nbsp;1.01 hereof, the covenant applicable to the Notes as set forth in the
Notes is hereby amended and restated as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&#147;Notwithstanding anything to the contrary contained herein if, at any time (the
&#147;<U>Triggering Event</U>&#148;), the aggregate number of Common Shares then issued upon
conversion of the Securities (including any shares of capital stock or rights to
acquire shares of capital stock issued by the Company which are aggregated or
integrated with the Common Shares issued or issuable upon conversion of the
Securities for purposes of such rule) equals 19.99% of the Outstanding Common Amount
(as hereinafter defined), the Securities (1)&nbsp;shall, from that time forward, cease to
be convertible into Common Shares in accordance with the terms of the prior
paragraph above, unless the Company has obtained approval (&#147;<U>Shareholder
Approval</U>&#148;) of the issuance of the Common Shares upon conversion of the
Securities by a majority of the total votes cast on such proposal, in person or by
proxy, by the holders of the then outstanding Common Shares (not including (x)&nbsp;any
Common Shares held by present or former holders of Securities that were issued upon
conversion of Securities or (y)&nbsp;any shares of capital stock or rights to acquire shares of capital stock issued by the Company that are held by present or former
holders of such shares of capital stock or rights to acquire shares of capital stock
which are aggregated or integrated with the Common Shares issued or issuable upon
conversion of the Securities for purposes of Rule 4350(i) of the Nasdaq Stock
Market, Inc. (&#147;<U>Nasdaq</U>&#148;)), and (2)&nbsp;shall, from that time forward, be
convertible into such Holder&#146;s pro rata share of the Maximum Share Amount (as
hereinafter defined). If the Triggering Event occurs, the Company shall promptly
seek Shareholder Approval. For purposes of this paragraph, &#147;<U>Outstanding Common
Amount</U>&#148; means (i)&nbsp;the number of Common Shares outstanding on the date
immediately prior to the earliest date of issuance of the Securities or any shares
of capital stock or rights to acquire shares of capital stock issued by the Company
which are aggregated or integrated with the Common Shares issued or issuable upon
conversion of the Securities for purposes of such rule plus (ii)&nbsp;any additional shares of Common Shares issued thereafter in respect of such shares pursuant to a
stock dividend, stock split or similar event. The maximum number of Common Shares
issuable as a result of the 19.99% limitation set forth herein is hereinafter
referred to as the &#147;<U>Maximum Share Amount</U>.&#148; With respect to each Holder of
Securities, the Maximum Share Amount shall refer to such Holder&#146;s pro rata share
thereof based on the principal amount of Securities then held by such Holder
relative to the total aggregate principal amount of Securities then outstanding plus
the value of any shares of capital stock or rights to acquire shares of capital
stock issued by the Company which are aggregated or integrated with the Common
Shares issued or issuable upon conversion of the Securities for purposes of Rule
4350(i). In the event that the Company obtains Shareholder Approval, the number of shares that the Securities convert into will be as set forth in the prior paragraph
(such increased number being the &#147;<U>New Maximum Share Amount</U>&#148;) and the
references to Maximum Share Amount, above, shall be deemed to be, instead,
references to the greater New Maximum Share Amount. In the event that Shareholder
Approval is not obtained, the Maximum Share Amount shall remain unchanged.&#148;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;An allonge, in the form of <U>Annex A</U> attached hereto, shall be executed and
delivered to the Holder of any Note, whether outstanding on the date hereof or issued hereafter.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>MISCELLANEOUS PROVISIONS; GOVERNING LAW; ACCEPTANCE BY TRUSTEE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.01 <U>Instruments to be Read Together</U>. This First Supplemental Indenture is an
indenture supplemental to and in implementation of the Indenture and the Officer&#146;s Certificate, and
said Indenture, the Officer&#146;s Certificate and this First Supplemental Indenture shall henceforth be
read together.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.02 <U>Confirmation</U>. The Indenture as amended and supplemented by this First
Supplemental Indenture is in all respects confirmed and preserved.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.03 <U>Counterparts</U>. This First Supplemental Indenture may be executed in any
number of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.04 <U>Effectiveness</U>. The provisions of this First Supplemental Indenture will
take effect immediately upon its execution and delivery by the Trustee in accordance with the
provisions of Section&nbsp;9.04 of the Indenture, <U>provided</U> that the amendments set forth in this
First Supplemental Indenture shall apply only in respect of the Notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.05 <U>Governing Law</U>. This First Supplemental Indenture shall be construed in
accordance with and governed by the laws of the State of New York.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.06 <U>Acceptance by Trustee</U>. The Trustee accepts the amendments of the
Indenture and the Officer&#146;s Certificate effected by this First Supplemental Indenture and agrees to
execute the trusts created by the Indenture as hereby amended, but only upon the terms and
conditions set forth in the Indenture. The Trustee assumes no responsibility for the correctness
of the recitals contained herein, which shall be taken as the statements of the Company. The
Trustee makes no representation and shall have no responsibility as to the validity of this First
Supplemental Indenture or the proper authorization or the due execution hereof by the Company.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;Signature Page Follows.&#093;
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be
duly executed as of the day and year first above written.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">BMP SUNSTONE CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
Fred Powell</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Fred Powell&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><u>Trustee:</u><br><br>
THE BANK OF NEW YORK MELLON, as trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
Mary Miselis</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Mary Miselis</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Vice President</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;Signature Page to First Supplemental Indenture&#093;
</DIV>



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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>Annex A</U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Form of Allonge

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">See Attached.

</DIV>


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