Secondary Sale of Common Shares of Biovail CorporationPrivate and Confidential • February 5th, 2009 • Melnyk Eugene • Pharmaceutical preparations
This letter is to confirm that, subsequent to a trade on February 3, 2009 of approximately Two (2) million shares of Biovail Corporation (the “Shares”) by EM Holdings B.V. (“BV”) through GMP Securities L.P. (“GMP”), BV, Eugene Melnyk and any entity controlled by or affiliated with Eugene Melnyk (each a “Selling Shareholder”), hereby grant a right of first offer to GMP for a period of 30 days, commencing on the date of the settlement of the traded Shares, whereby each Selling Shareholder:
