Supplement No. 3 to the Transaction Agreements
SUPPLEMENT NO. 3 TO
This Supplement No. 3 to Transaction Agreements (this Supplement) is entered into as of December 16, 2020 by and among Invus, L.P., a Bermuda limited partnership (Invus, L.P.), Invus C.V., a Netherlands limited partnership (Invus C.V.), and Lexicon Pharmaceuticals, Inc., a Delaware corporation (the Company). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Securities Purchase Agreement (as defined below).
W I T N E S S E T H :
WHEREAS, Invus, L.P. and the Company entered into the Securities Purchase Agreement, dated as of June 17, 2007, by and between Invus, L.P. and the Company (as amended, supplemented or otherwise modified, the Securities Purchase Agreement), the Stockholders Agreement, dated as of June 17, 2007 (as amended, supplemented or otherwise modified, the Stockholders Agreement) and the Registration Rights Agreement, dated as of June 17, 2007 (as amended, supplemented or otherwise modified, the Registration Rights Agreement, and, together with the Stockholders Agreement, the Transaction Agreements);
WHEREAS, Artal International S.C.A., an affiliate of Invus, L.P. and Invus C.V., the Company and certain other parties have entered into a Subscription Agreement, dated as of December 11, 2020 (the Subscription Agreement), pursuant to which the Company has agreed to sell (the Offering), and Artal International S.C.A. has agreed to purchase, additional shares of Company Common Stock; and
WHEREAS, in connection with, and as condition to, the Offering, Invus, L.P. and Invus C.V and the Company desire to amend the Transaction Agreements in certain respects.
NOW, THEREFORE, intending to be legally bound hereby, the parties hereto hereby agree as follows:
Section 1. Amendment to the Stockholders Agreement
(a) The definition of Investor in the Stockholders Agreement is hereby amended to collectively refer to Invus, L.P., Invus C.V., Invus Public Equities, L.P., Artal International S.C.A and any of their respective affiliates.
Section 2. Amendment to the Registration Rights Agreement
(a) The definition of Holders in Section 1.01 of the Registration Rights Agreement is hereby amended and restated in its entirety to read as follows:
Holders means the Investor, Invus C.V., Invus Public Equities, L.P., Artal International S.C.A,, any Assigned Transferee and any affiliate of any of the foregoing Persons.
(b) The parties hereto hereby intend that the foregoing amendment will give Artal International and any other person satisfying such definition the rights of Holders under the Registration Rights Agreement. Pursuant to Section 5.06 of the Registration Rights Agreement, Invus, L.P. and Invus C.V., as Holders (as defined in the Registration Rights Agreement) of a majority of the outstanding shares of Registrable Securities (as defined in the Registration Rights Agreement), hereby consent to the above amendment to Section 1.01 of the Registration Rights Agreement, and the Company expressly acknowledges the receipt of such consent.
Section 3. Consent to Further Amendments; Further Assurances
The parties hereto hereby consent to such other amendments and changes to the Stockholders Agreement and the Registration Rights Agreement as necessary to give effect to the intent of this Supplement and shall execute and deliver or cause to be executed and delivered any additional documents, certificates, consents, waivers and instruments and perform any additional acts that may be reasonably necessary or appropriate to effectuate and perform the provisions of this Supplement and those transactions contemplated herein.
Section 4. Ratification and Confirmation
The Transaction Agreements, as hereby amended, supplemented or otherwise modified, are hereby ratified and confirmed in all respects. This Supplement shall be interpreted and construed together with, and as a part of, each of
the Transaction Agreements, as applicable. Any reference in any other document to any of the Transaction Agreements shall be deemed to refer to the applicable Transaction Agreement, as modified by this Supplement. The execution, delivery and effectiveness of this Supplement shall not constitute a modification or waiver of any provision of the Transaction Agreements except as expressly provided herein.
Section 5. Governing Law
This Supplement shall be governed by, and construed in accordance with, the laws of the State of New York. All actions and proceedings arising out of or relating to this Supplement shall be heard and determined exclusively in any New York state or federal court, in each case sitting in the Borough of Manhattan. The parties hereto hereby (a) submit to the exclusive jurisdiction of any New York state or federal court, in each case sitting in the Borough of Manhattan, for the purpose of any Action arising out of or relating to this Supplement brought by any party hereto, and (b) irrevocably waive, and agree not to assert by way of motion, defense, or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Supplement may not be enforced in or by any of the above-named courts.
Section 6. Counterparts
This Supplement may be executed and delivered (including by facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed and delivered shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. The words execution, signed, signature, delivery, and words of like import in or relating to this Agreement or any document to be signed in connection with this Agreement shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic means.
[Signature Page Follows]
IN WITNESS WHEREOF, the Investors and the Company have caused this Supplement to be executed as of the date first written above by their respective officers thereunto duly authorized.
a Bermuda limited partnership
|By: Invus Advisors, L.L.C., its general partner|
a Netherlands limited partnership
|By: Ulys, L.L.C., its general partner|
LEXICON PHARMACEUTICALS, INC.,
a Delaware corporation
|Name:||Jeffrey L. Wade|
|Title:||Chief Financial Officer & EVP Corp & Admin Affairs|
[Signature Page to Supplement No. 3 to Transaction Agreements]