January 17, 2006 Pacific Growth Equities, LLC One Bush Street, Suite 1700 San Francisco, CA 94104 Attn: George J. Milstein Re: Advisory Fee Arrangement Ladies and Gentlemen:
Exhibit 10.60
January 17, 2006
Pacific Growth Equities, LLC
Xxx Xxxx Xxxxxx, Xxxxx 0000
Xxx Xxxxxxxxx, XX 00000
Attn: Xxxxxx X. Xxxxxxxx
Xxx Xxxx Xxxxxx, Xxxxx 0000
Xxx Xxxxxxxxx, XX 00000
Attn: Xxxxxx X. Xxxxxxxx
Re: Advisory Fee Arrangement
Ladies and Gentlemen:
This letter agreement confirms the advisory fee arrangement between Cytokinetics,
Incorporated, a Delaware corporation (“Cytokinetics”) and Pacific Growth Equities, LLC
(“PacGrow”), pursuant to which Cytokinetics will pay PacGrow a $1,000,000 advisory fee out of
the gross offering proceeds received by Cytokinetics for an investment in Cytokinetics’ common
stock in a registered direct transaction that is expected to close the week of January 15, 2006
(the “Offering”).
Cytokinetics will pay this fee upon the closing of the Offering. No fee will be due if the
Offering does not close by January 27, 2006. For the avoidance of doubt, no fee will be due
under this agreement for any other offering by the Company, whether to the investors that are
proposed to invest in the Offering or other investors.
PGE shall be under no obligation hereunder to make an independent appraisal of assets or
investigation or inquiry as to any information regarding, or any representations of, the
Company and shall have no liability hereunder in regard thereto. Cytokinetics agrees to
indemnify and hold PacGrow, its directors, officers, employees and agents harmless from and
against all losses, claims, damages, liabilities, costs and expenses (including reasonable
attorneys’ fees) incurred in defending, settling or compromising any third party claims
relating to PacGrow’s services in connection with the Offering, other than those arising from
PacGrow’s negligence or willful misconduct. The foregoing indemnification obligation is
subject to: (i) PacGrow providing Cytokinetics with prompt written notice of any claim for
which PacGrow wishes to seek indemnification hereunder; (ii) Cytokinetics having sole control
of the defense and all negotiations for settlement or compromise of such claim; and (iii)
PacGrow fully cooperating in the defense of such claim. PacGrow may elect to participate in any
such action with counsel of its own choice and at its own expense.
This letter agreement will be governed by California law, without regard to
conflict-of-law principles. This letter agreement represents the complete and final agreement
between Cytokinetics and PacGrow with respect to the foregoing matters and supercedes all prior
and contemporaneous agreements between Cytokinetics and PacGrow with respect to the Offering.
Sincerely, | ||
/s/ Xxxxxx Surrey-Xxxxxxx | ||
Xxxxxx Surrey-Barbari | ||
SVP, Finance and Chief Financial Officer |
Agreed and Accepted | ||||
Pacific Growth Equities, LLC | ||||
By: |
/s/ Xxxxxx X. Xxxxxxxx | |||
Name:
|
Xxxxxx X. Xxxxxxxx | |||
Title: |
Head of Investment Banking | |||
Date: |
1/17/06 | |||
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