Amendment to Investor Rights Agreement between Memory Pharmaceuticals Corp. and Investors (April 1, 2004)

Summary

Memory Pharmaceuticals Corp. and a group of investors have agreed to amend their existing Investor Rights Agreement. The amendment specifically changes the definition of "Initial Public Offering" to require a minimum share price of $7.00 and net proceeds of at least $25 million for the company. All other terms of the original agreement remain unchanged, and this amendment takes precedence if there is any conflict. The amendment is effective as of April 1, 2004, and is binding upon execution by the company and the required majority of investors.

EX-4.8 5 y92465a4exv4w8.txt AMENDMENT TO INVESTOR RIGHTS AGREEMENT Exhibit 4.8 Form of Amendment to the Investor Rights Agreement dated as of April 1, 2004 (this "Amendment"), among Memory Pharmaceuticals Corp. and the investors set forth on the signature page hereto (the "Investors") A. The Company and the Investors entered into a Fourth Amended and Restated Investor Rights Agreement dated as of September 11, 2003, as amended by an Agreement dated as of December 18, 2003, among the Company, Dr. Eric Kandel and the Investors and an Amendment dated as of March 15, 2004 among the Company and the Investors (the "Investor Rights Agreement"). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Investor Rights Agreement. B. The Company and the Investors wish to amend the definition of "Initial Public Offering" in the Investor Rights Agreement. C. Pursuant to Section 8.3 of the Investor Rights Agreement, this Amendment requires the Company's consent and the consent in writing of holders of at least two-thirds (2/3) of the outstanding shares of Preferred Stock. The Company and the Investors hereby agree as follows: 1. Section 1.3 of the Investor Rights Agreement is hereby amended to delete the definition of "Initial Public Offering" in its entirety and replace it with the following: "Initial Public Offering" shall mean the closing of a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, covering the offer and sale of Common Stock for the account of the Company to the public at an initial public offering price per share of not less than $7.00 (such dollar amount being subject to equitable adjustment in the event of any stock dividend, stock split, combination, reorganization, recapitalization or similar event involving a change in the Common Stock) with net proceeds to the Company of not less than $25,000,000." 2. Except as specifically amended by this Amendment, the Investor Rights Agreement remains in full force and effect. Wherever the terms of this Amendment and the Investor Rights Agreement conflict, this Amendment controls. All references in the Investor Rights Agreement to "this Agreement" shall mean the Investor Rights Agreement, as amended hereby. 3. This Agreement may be executed in counterparts, which together shall constitute one and the same instrument. In witness whereof, the undersigned have executed this Amendment to the Investor Rights Agreement as of the date first above written. Company: Memory Pharmaceuticals Corp. By: ---------------------------------- Name: Title: Investors: Oxford Bioscience Partners II L.P. By: OBP Management II L.P. By: ---------------------------------- Name: Title: Oxford Bioscience Partners (Bermuda) II Limited Partnership By: OBP Management II (Bermuda) Limited Partnership By: ---------------------------------- Name: Title: Oxford Bioscience Partners (Adjunct) II, L.P. By: OBP Management II L.P. By: ---------------------------------- Name: Title: Oxford Bioscience Partners (Gs-Adjunct) II, L.P. By: OBP Management II L.P. By: ---------------------------------- Name: Title: Healthcare Ventures V L.P. By: ---------------------------------- Name: Title: Hudson Trust By: ---------------------------------- Name: Title: Venrock Associates By: ---------------------------------- Name: Title: Venrock Associates II, L.P. By: ---------------------------------- Name: Title: Alta Embarcadero Partners II LLC By: ---------------------------------- Name: Title: GLSLP Investment I Ltd. By: ---------------------------------- Name: Title: S.R. One Limited By: ---------------------------------- Name: Title: Alexandria Real Estate Equities, L.P. By: ---------------------------------- Name: Title: Pharma/w Health By: ---------------------------------- Name: Title: Finsbury Worldwide Pharmaceutical Trust By: ---------------------------------- Name: Title: Eaton Vance Worldwide Health Sciences Portfolio By: ---------------------------------- Name: Title: Artal Services N.V. By: ---------------------------------- Name: Title: Venrock Entrepreneuers Fund, L.P. By: ---------------------------------- Name: Title: Medica II Investment (Israel), LP By: ---------------------------------- Name: Title: Medica II Investment (International), LP By: ---------------------------------- Name: Title: GIMV By: ---------------------------------- Name: Title: Memories Plus, LLC By: ---------------------------------- Name: Title: M&G Equities By: ---------------------------------- Name: Title: ------------------------------------- Kenneth J. Novack ------------------------------------- Larry Abrams Adviesbeheer Gimv Life Sciences By: ---------------------------------- Name: Title: Bioveda Fund Pte Ltd By: ---------------------------------- Name: Title: Medica II Investments (P.F.)(Israel) L.P. By: ---------------------------------- Name: Title: Oxford Bioscience Partners II (Annex) L.P. By: OBP Management II L.P. By: ---------------------------------- Name: Title: The Yasuda Enterprise Development I Limited Partnership By: ---------------------------------- Name: Title: Gray Ghost, LLC By: ---------------------------------- Name: Title: MC Life Science Ventures, Inc. By: ---------------------------------- Name: Title: ------------------------------------- Kenneth A. Sorensen, Ph.D. ------------------------------------- Hans-Jurgen Hess, Ph.D. Mchugh, Divincent, Allessi, Inc. By: ---------------------------------- Name: Title: SG Cowen Ventures II, LP By: Societe Generale Investment Corporation, Its General Partner By: ---------------------------------- Name: Title: RHO Management Trust II By: Rho Capital Partners, Inc., Investment Advisor By: ---------------------------------- Name: Title: Yamanouchi Venture Capital, LLC By: ---------------------------------- Name: Title: Alta California Partners II, L.P. By: Alta California Management Partners II, LLC, Its General Partner By: ---------------------------------- Name: Title: Biomedicine L.P. By: International Bm Biomedicine Holdings (Cayman) Ltd., Its General Partner By: ---------------------------------- Name: Title: New England Partners Capital, L.P. By: Nep Capital, LLC, Its General Partner By: ---------------------------------- Name: Title: Steven Ostrofsky Middlegate Ventures, LLC By: ---------------------------------- Name: Title: ------------------------------------- David I. Wolsk ------------------------------------- David R. Novack ------------------------------------- Helen Novack ------------------------------------- Hyman Novack ------------------------------------- Natalie C. Scriabine ------------------------------------- Christine B. Scriabine ------------------------------------- Alexander Scriabine, M.D. ------------------------------------- Peter Smith ------------------------------------- Judith Smith ------------------------------------- Stephen White ------------------------------------- Mariam White Hoffmann-La Roche Inc. By: ---------------------------------- Name: Title: