Amendment No. 1 to Investors' Rights Agreement by and among Esperion Therapeutics, Inc. and Purchasers

Contract Categories: Business Finance › Investor Rights Agreements
Summary

This amendment, dated August 11, 1998, updates the Investors' Rights Agreement between Esperion Therapeutics, Inc. and its investors. It adds new investors as parties to the agreement, updates the schedule of purchasers, and clarifies that certain rights related to preferred shares cannot be changed without the consent of the holders. The amendment becomes effective once signed by the company and holders of at least 51% of the preferred shares. All parties agree to be bound by the original agreement as amended.

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EX-10.14 10 0010.txt AMENDMENT NO. 1 TO INVESTORS' RIGHTS AGREEMENT Exhibit 10.14 ESPERION THERAPEUTICS, INC. AMENDMENT NO. 1 TO THE INVESTOR'S RIGHTS AGREEMENT This AMENDMENT NO. 1 TO THE INVESTORS' RIGHTS AGREEMENT (this "Agreement") is made and entered into as of August 11, 1998, by and among ESPERION THERAPEUTICS, INC., a Delaware corporation (the "Company"), the Purchasers (as ------- such term is defined in the Original Agreement defined below), and the Additional Purchasers set forth on Exhibit 1 attached hereto under the heading --------- "Additional Purchasers". - ---------------------- WHEREAS, the Company and the Purchasers are parties to an Investors' Rights Agreement made and entered into as of July 6, 1998 (the "Original Agreement"); ------------------ and WHEREAS, the parties to the Original Agreement desire to amend such agreement to provide for the addition of the Additional Purchasers as Purchasers thereunder, among other things, on the terms and conditions stated herein and in the Original Agreement; NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows: 1. Defined Terms. Capitalized terms used and not otherwise ------------- defined in this Agreement shall have the meanings given to such terms in the Original Agreement. 2. Exhibit A. Exhibit A to the Original Agreement is amended and --------- --------- restated in the form of Exhibit A hereto. --------- 3. Joinder. The Additional Purchasers hereby agree to be bound ------- by and subject to the terms and conditions of the Original Agreement and the parties hereto agree that the Additional Purchasers shall be entitled to all, of the rights and benefits of the Purchasers under the Original Agreement. 4. Amendment to Section 4.3. Section 4.3 of the Original ------------------------ Agreement is hereby amended by adding the following clause immediately prior to the period at the end of the second sentence of such Section: "; provided, however, that without the consent of a Holder, no such -------- ------- amendment shall alter the provisions of Sections 2.1 or 2.2 with respect to the Preferred Shares held by such Holder" 5. Governing Law. This Agreement shall be governed in all ------------- respects by the laws of the State of Delaware, as applied to agreements among Delaware residents entered into and to be performed entirely within Delaware. 6. Effective Date. In accordance with the terms of the Original -------------- Agreement, this Agreement will become effective upon execution by the Company and the holders of at least fifty one percent (51%) of the Preferred Shares. 7. Counterparts. This Agreement may be executed in any number of ------------ counterparts. each of which shall be an original, but all of which, together shall constitute one instrument. * * * * * IN WITNESS WHEREOF, the parties hereto have executed this Investors' Rights Agreement effective as of the day and year first above written. THE COMPANY: ESPERION THERAPEUTICS, INC. By: /s/ Roger S. Newton -------------------------- Name: Roger S. Newton Title: President/CEO THE PURCHASERS: OAK INVESTMENT PARTNERS VII, LIMITED PARTNERSHIP By: OAK ASSOCIATES VII, LLC Its General Partner By: _____________________________ A Member OAK VII AFFILIATES FUND, LIMITED PARTNERSHIP By: OAK VII AFFILIATES, LLC Its General Partner By: ______________________________ A Member [Signature page to Amendment No. 1 to the Investors' Rights Agreement] TL VENTURES III L.P. By: TL Ventures III Management L.P., its general partner By: TL Ventures III L.L.C. its general partner By: /s/ Christopher Moller ------------------------------------ Name: Christopher Moller Ph.D. Title: Managing Director TL VENTURES III OFFSHORE L.P. By: TL Ventures III Offshore Partners, L.P., its general partner By: TL Ventures III Offshore Ltd, its general partner By: /s/ Christopher Moller ------------------------------------ Name: Christopher Moller Ph.D. Title: Vice President TL VENTURES III INTERFUND L.P. By: TL Ventures III L.L.C., its general partner By: /s/ Christopher Moller Ph.D. ------------------------------------ Name: Christopher Moller Ph.D. Title: Managing Director SCHEER INVESTMENT HOLDINGS II, L.L.C. By: /s/ David I. Scheer ------------------------------------ David I. Scheer Managing Member /s/ Cesare Sirtori --------------------------------------- Cesare Sirtori, M.D. [Signature page to Amendment No. 1 to the Investors' Rights Agreement] EXHIBIT A --------- SCHEDULE OF PURCHASERS
- ------------------------------------------------------------------------------------------ No. of Cash Purchaser's Name and Address Series B Shares Consideration - ---------------------------- --------------- ------------- - ------------------------------------------------------------------------------------------ Oak Investment Partners VII, Limited 3,685,125 $5,487,187.503 Partnership c/o Oak Investment Partners One Gorham Island Westport, CT 06880 Attention: General Partner - ------------------------------------------------------------------------------------------ Oak VII Affiliates Fund, Limited 91,875 $ 137,812.50 Partnership c/o Oak Investment Partners One Gorham Island Westport, CT 06880 Attention: General Partner - ------------------------------------------------------------------------------------------ TL Ventures III L.P. 3,019,385 $ 4,529,077.50 c/o TL Ventures LLC 800 The Safeguard Building 435 Devon Park Drive Wayne, PA 19087-1945 Attention: Chief Financial Officer - ------------------------------------------------------------------------------------------ TL Ventures III Offshore L.P. 632,026 $ 948,039.00 c/o Trident Trust Company (Cayman) Limited P.O. Box 847 One Capital Place, Fourth Floor Grand Cayman, Cayman Islands - ------------------------------------------------------------------------------------------ With a copy to: TL Ventures LLC 800 The Safeguard Building 435 Devon Park Drive Wayne, PA 19087-1945 Attention: Chief Financial Officer - ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------ No. of Cash Purchaser's Name and Address Series B Shares Consideration - ---------------------------- --------------- ------------- - ------------------------------------------------------------------------------------------ TL Ventures III Interfund L.P. 98,589 $ 147,883.50 c/o TL Ventures LLC 800 The Safeguard Building 435 Devon Park Drive Wayne, PA 19087 Attention: Chief Financial Officer - ------------------------------------------------------------------------------------------ HealthCap KB 896,000 $ 1,344,000.00 Sturegatan 34 S-114 Stockholm Sweden - ------------------------------------------------------------------------------------------ HealthCap CoInvest KB 1,237,333 $ 1,855,999.50 Sturegatan 34 S-114 Stockholm Sweden - ------------------------------------------------------------------------------------------ Cesare Sirtori, M.D. 333,333 $ 499,999.50 [Address] - ------------------------------------------------------------------------------------------ Scheer Investment Holdings II, L.L.C. 33,334 $ 50,001.00 Cc/o Scheer & Company, Inc. 250 West Main Street Branford, CT 06405 - ------------------------------------------------------------------------------------------ TOTAL ---------- -------------- - ----- 10,000,000 $15,000,000.00 ========== ============== - ------------------------------------------------------------------------------------------