Exhibit 10.3
VOTING AGREEMENT
This Voting Agreement is entered into as of March 12, 2001, by and between
Data Critical Corporation, a Delaware corporation ("Acquiror"), and Xxxxxxx X.
Xxxxxx (together, in the case of any individual, with such person's spouse,
"Stockholder").
Recitals
A. Acquiror, Viper Acquisition Corp., a Delaware corporation and a
wholly owned subsidiary of Acquiror ("Merger Sub"), and VitalCom Inc., a
Delaware corporation ("Target"), are entering into an Agreement and Plan of
Merger of even date herewith (the "Merger Agreement") which provides (subject to
the conditions set forth therein) for the merger of Merger Sub into Target (the
"Merger").
B. In order to induce Acquiror and Merger Sub to enter into the Merger
Agreement, Stockholder is entering into this Voting Agreement.
Agreement
The parties to this Voting Agreement, intending to be legally bound,
agree as follows:
Section 1. Certain Definitions
For purposes of this Voting Agreement:
(a) All capitalized terms used but not otherwise defined in this
Voting Agreement have the meanings given to them in the Merger Agreement.
(b) "Target Common Stock" shall mean the common stock, $.0001
par value per share, of Target.
(c) "Expiration Date" shall mean the earlier of (i) the date
upon which the Merger Agreement is validly terminated in accordance with Section
7.1 of the Merger Agreement, or (ii) the Effective Time (as such term is defined
in the Merger Agreement).
(d) Stockholder shall be deemed to "Own" or to have acquired
"Ownership" of a security if Stockholder: (i) is the record owner of such
security; or (ii) is the "beneficial owner" (within the meaning of Rule 13d-3
under the Securities Exchange Act of 1934) of such security.
(e) "Person" shall mean any (i) individual, (ii) corporation,
limited liability company, partnership or other entity, or (iii) governmental
authority.
(f) "Subject Securities" shall mean: (i) all securities of
Target (including all shares of Target Common Stock and all options, warrants
and other rights to acquire shares of Target Common Stock) Owned by Stockholder
as of the date of this Voting Agreement; and (ii) all additional securities of
Target (including all additional shares of Target Common Stock and all
additional options, warrants and other rights to acquire shares of Target Common
Stock) of which Stockholder acquires Ownership during the period from the date
of this Voting Agreement through the Expiration Date, in each case, which
securities entitle, or are convertible into or exercisable for, securities
entitling the holder thereof to vote in respect of the Merger.
(g) A Person shall be deemed to have a effected a "Transfer" of
a security if such Person directly or indirectly: (i) sells, pledges, encumbers,
grants an option with respect to, transfers or disposes of such security or any
interest in such security; or (ii) enters into an agreement or commitment
contemplating the possible sale of, pledge of, encumbrance of, grant of an
option with respect to, transfer of or disposition of such security or any
interest therein.
Section 2. Restrictions On Transfer Of Subject Securities
2.1 No Transfer of Subject Securities. Stockholder agrees that, during
the period from the date of this Voting Agreement through the Expiration Date,
Stockholder shall not cause or permit any Transfer of any of the Subject
Securities or any interest therein to be effected, and any such attempted
Transfer shall be null and void; provided, however, that nothing in this Voting
Agreement shall restrict Stockholder's ability to exercise any options to
acquire shares of Target Common Stock.
2.2 No Transfer of Voting Rights. Stockholder agrees that, during the
period from the date of this Voting Agreement through the Expiration Date,
Stockholder shall ensure that: (a) none of the Subject Securities is subject to
or deposited into a voting trust; and (b) no proxy is granted, and no voting
agreement or similar agreement is entered into, with respect to any of the
Subject Securities (other than pursuant to this Voting Agreement), and the
execution and delivery hereof by the Stockholder shall be deemed a continuing
representation as to such facts by such Stockholder.
Section 3. Voting Of Shares
3.1 Voting Agreement. Stockholder agrees that, during the period from
the date of this Voting Agreement through the Expiration Date:
(a) at any meeting of stockholders of Target, however called,
and at any adjournments or postponements of such meeting, or in any other
circumstances upon which a vote, consent or approval from stockholders of Target
is sought, Stockholder shall vote or shall cause all outstanding shares of
Target Common Stock that are Owned by Stockholder as of the record date fixed
for such meeting to be voted:
(i) in favor of the adoption of the Merger Agreement and
in favor of each of the other actions contemplated by the Merger Agreement;
and
(ii) against the following actions (other than the Merger
and the other transactions contemplated by the Merger Agreement): (A) any
extraordinary corporate transaction, such as a merger, consolidation or
other business combination involving Target; (B) any sale, lease or
transfer of a material amount of assets of Target (other than in the
ordinary course of business); (C) any reorganization, recapitalization,
dissolution or liquidation of any of Target; (D) any removal of or change
in a majority of the board of directors of Target as constituted as of the
date hereof; (E) any amendment to Target's certificate of incorporation;
(F) any material change in the capitalization of Target or Target's
corporate structure or the voting rights of any class of Target's capital
stock; and (G) any other action that is inconsistent with the Merger or
that is intended, or could reasonably be expected, to impede, interfere
with, delay, postpone, discourage or adversely affect the Merger or any of
the other transactions contemplated by the Merger Agreement or this Voting
Agreement;
(b) in the event written consents are solicited or otherwise
sought from stockholders of Target with respect to the adoption of the Merger
Agreement, with respect to the approval of the Merger or with respect to any of
the other actions contemplated by the Merger Agreement, Stockholder
shall cause to be executed, with respect to all outstanding shares of Target
Common Stock that are Owned by Stockholder as of the record date fixed for the
consent to the proposed action, a written consent or written consents to such
proposed action; and
(c) in the event written consents are solicited or otherwise
sought from stockholders of Target with respect to any of the matters referred
to in clauses "(A)" through "(G)" of clause "(ii)" of paragraph "(a)" of this
Section 3.1, Stockholder shall cause to be executed, with respect to all
outstanding shares of Target Common Stock that are Owned by Stockholder as of
the record date fixed for the consent to the proposed action, a written consent
or written consents against such proposed action.
3.2 Proxy. Contemporaneously with the execution of this Voting
Agreement: (i) Stockholder shall deliver to Acquiror a proxy in the form
attached to this Voting Agreement as Exhibit A, which shall be irrevocable to
the fullest extent permitted by law, with respect to the shares referred to
therein (the "Proxy"); and (ii) Stockholder shall cause to be delivered to
Acquiror an additional proxy (in the form attached hereto as Exhibit A) executed
on behalf of the record owner of any outstanding shares of Target Common Stock
that are owned beneficially (within the meaning of Rule 13d-3 under the
Securities Exchange Act of 1934), but not of record, by Stockholder.
Section 4. Waiver Of Appraisal Rights
Stockholder hereby irrevocably and unconditionally waives, and agrees to
cause to be waived and to prevent the exercise of, any rights of appraisal, any
dissenters' rights and any similar rights relating to the Merger or any related
transaction that Stockholder or any other Person may have by virtue of the
ownership of any outstanding shares of Target Common Stock Owned by Stockholder.
Section 5. Lockup Agreement
For a period of ninety (90) calendar days following the Effective Time (as
such term is defined in the Merger Agreement), Stockholder shall not Transfer or
in any other way reduce Stockholder's risk of ownership of or investment in any
shares of Acquiror Common Stock which Stockholder currently owns or purchases or
otherwise acquires after the execution of this Voting Agreement, whether
pursuant to the Merger or otherwise (including any securities which may be paid
as a dividend or otherwise distributed thereon or with respect thereto or issued
or delivered in exchange or substitution therefor) (all such securities being
referred to herein collectively as "Restricted Acquiror Securities"), or any
option, right or other interest with respect to any Restricted Acquiror
Securities; provided, however, that nothing in this Agreement shall restrict
Stockholder's ability to exercise options to acquire shares of Acquiror Common
Stock (it being understood, however, that any shares of Acquiror Common Stock
issued to Stockholder upon exercise of such options shall become "Restricted
Acquiror Securities" that are subject to the prohibitions described in this
Section 5). Stockholder also understands and agrees that stop transfer
instructions may be given to Acquiror's transfer agent with respect to
certificates evidencing the Restricted Acquiror Securities to enforce
Stockholder's compliance with this Section 5. Notwithstanding anything to the
contrary contained in this Voting Agreement, this Section 5 shall have no force
or effect (x) if the Merger Agreement is terminated or (y) if Stockholder's
employment with Acquiror is terminated.
Section 6. Representations And Warranties Of Stockholder
Stockholder hereby represents and warrants to Acquiror as follows:
6.1 Authorization, etc. Stockholder has the absolute and unrestricted
right, power, authority and capacity to execute and deliver this Voting
Agreement and the Proxy and to perform Stockholder's obligations hereunder and
thereunder. This Voting Agreement and the Proxy have been duly executed
and delivered by Stockholder and constitute legal, valid and binding obligations
of Stockholder, enforceable against Stockholder in accordance with their terms,
subject to (i) laws of general application relating to bankruptcy, insolvency
and the relief of debtors, and (ii) rules of law governing specific performance,
injunctive relief and other equitable remedies.
6.2 No Conflicts or Consents. The execution and delivery of this Voting
Agreement and the Proxy by Stockholder do not, and the performance of this
Voting Agreement and the Proxy by Stockholder will not: (i) conflict with or
violate any law, rule, regulation, order, decree or judgment applicable to
Stockholder or by which he or any of his properties is or may be bound or
affected; or (ii) result in or constitute (with or without notice or lapse of
time) any breach of or default under, or give to any other Person (with or
without notice or lapse of time) any right of termination, amendment,
acceleration or cancellation of, or result (with or without notice or lapse of
time) in the creation of any encumbrance or restriction on any of the Subject
Securities pursuant to, any contract to which Stockholder is a party or by which
Stockholder or any of his affiliates or properties is or may be bound or
affected. The execution and delivery of this Voting Agreement and the Proxy by
Stockholder do not, and the performance of this Voting Agreement and the Proxy
by Stockholder will not, require any consent or approval of any Person. Any
proxies executed or delivered by Stockholder with respect to the Subject
Securities prior to execution and delivery of this Voting Agreement and the
Proxy are not irrevocable and, to the extent such proxies exist, are hereby
revoked.
6.3 Title to Securities. As of the date of this Voting Agreement: (a)
Stockholder holds of record (free and clear of any encumbrances or restrictions)
the number of outstanding shares of Target Common Stock set forth under the
heading "Shares Held of Record" on the signature page hereof; (b) Stockholder
holds (free and clear of any encumbrances or restrictions) the options, warrants
and other rights to acquire shares of Target Common Stock set forth under the
heading "Options and Other Rights" on the signature page hereof; (c) Stockholder
Owns the additional securities of Target set forth under the heading "Additional
Securities Beneficially Owned" on the signature page hereof; (d) Stockholder has
the sole right to vote and dispose of the Subject Securities (free and clear of
any encumbrances or restrictions); and (e) Stockholder does not directly or
indirectly Own any shares of capital stock or other securities of Target, or any
option, warrant or other right to acquire (by purchase, conversion or otherwise)
any shares of capital stock or other securities of Target, other than the shares
and options, warrants and other rights set forth on the signature page hereof.
6.4 Accuracy of Representations. The representations and warranties
contained in this Voting Agreement are accurate in all respects as of the date
of this Voting Agreement, will be accurate in all respects at all times through
the Expiration Date and will be accurate in all respects as of the date of the
consummation of the Merger as if made on that date.
Section 7. Miscellaneous
7.1 Further Assurances. From time to time and without additional
consideration, Stockholder shall execute and deliver, or cause to be executed
and delivered, such additional transfers, assignments, endorsements, proxies,
consents and other instruments, and shall take such further actions, as Acquiror
may request for the purpose of carrying out and furthering the intent of this
Voting Agreement.
7.2 Notices. Any notice or other communication required or permitted to
be delivered to either party under this Voting Agreement shall be in writing and
shall be deemed properly delivered, given and received (a) when delivered by
hand, or (b) two business days after sent by courier or express delivery service
or by facsimile, to the address or facsimile telephone number set forth beneath
the name of such party below (or to such other address or facsimile telephone
number as such party shall have specified in a written notice given to the other
party):
if to Stockholder:
at the address set forth below Stockholder's signature on
the signature page hereof
if to Acquiror or Merger Sub:
Data Critical Corporation
00000 Xxxxx Xxxxx Xxxxxxx
Xxxxx 000
Xxxxxxx, XX 00000
Attention: Chief Financial Officer
Facsimile No.: (000) 000-0000
Telephone No.: (000) 000-0000
in each case with a copy to:
Xxxxxx, Xxxxxxxxxx & Xxxxxxxxx LLP
000 Xxxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxxxx 00000
Attention: Xxxxx X. Xxxxx
Facsimile No.: (000) 000-0000
Telephone No.: (000) 000-0000
7.3 Severability. If any provision of this Voting Agreement or any part
of any such provision is held under any circumstances to be invalid or
unenforceable in any jurisdiction, then (a) such provision or part thereof
shall, with respect to such circumstances and in such jurisdiction, be deemed
amended to conform to applicable laws so as to be valid and enforceable to the
fullest possible extent, (b) the invalidity or unenforceability of such
provision or part thereof under such circumstances and in such jurisdiction
shall not affect the validity or enforceability of such provision or part
thereof under any other circumstances or in any other jurisdiction, and (c) the
invalidity or unenforceability of such provision or part thereof shall not
affect the validity or enforceability of the remainder of such provision or the
validity or enforceability of any other provision of this Voting Agreement. Each
provision of this Voting Agreement is separable from every other provision of
this Voting Agreement, and each part of each provision of this Voting Agreement
is separable from every other part of such provision.
7.4 Entire Agreement. This Voting Agreement, the Proxy and any other
documents delivered by the parties in connection herewith constitute the entire
agreement between the parties with respect to the subject matter hereof and
thereof and supersede all prior agreements and understandings between the
parties with respect thereto. No addition to or modification of any provision of
this Voting Agreement shall be binding upon either party unless made in writing
and signed by both parties.
7.5 Assignment; Binding Effect. Except as provided herein, neither this
Voting Agreement nor any of the interests or obligations hereunder may be
assigned or delegated by Stockholder and any attempted or purported assignment
or delegation of any of such interests or obligations shall be void. Subject to
the preceding sentence, this Voting Agreement shall be binding upon Stockholder
and his heirs, estate, executors, personal representatives, successors and
assigns, and shall inure to the benefit of Acquiror and its successors and
assigns. Without limiting any of the restrictions set forth in Section 2 or
elsewhere in this Voting Agreement, this Voting Agreement shall be binding upon
any Person to whom any Subject Securities are transferred. Nothing in this
Voting Agreement is intended to confer on any Person (other than Acquiror and
its successors and assigns) any rights or remedies of any nature.
7.6 Specific Performance. The parties agree that irreparable damage
would occur in the event that any of the provisions of this Voting Agreement or
the Proxy was not performed in accordance with its specific terms or was
otherwise breached. Stockholder agrees that, in the event of any breach or
threatened breach by Stockholder of any covenant or obligation contained in this
Voting Agreement or in the Proxy, Acquiror shall be entitled (in addition to any
other remedy that may be available to it, including monetary damages) to seek
and obtain (a) a decree or order of specific performance to enforce the
observance and performance of such covenant or obligation, and (b) an injunction
restraining such breach or threatened breach. Stockholder further agrees that
neither Acquiror nor any other Person shall be required to obtain, furnish or
post any bond or similar instrument in connection with or as a condition to
obtaining any remedy referred to in this Section 7.6, and Stockholder
irrevocably waives any right he may have to require the obtaining, furnishing or
posting of any such bond or similar instrument.
7.7 Governing Law; Waiver of Jury Trial. This Voting Agreement and the
Proxy shall be construed in accordance with, and governed in all respects by,
the laws of the State of Delaware (without giving effect to principles of
conflicts of laws). STOCKHOLDER IRREVOCABLY WAIVES THE RIGHT TO A JURY TRIAL IN
CONNECTION WITH ANY LEGAL PROCEEDING RELATING TO THIS VOTING AGREEMENT OR THE
PROXY OR THE ENFORCEMENT OF ANY PROVISION OF THIS VOTING AGREEMENT OR THE PROXY.
7.8 Counterparts. This Voting Agreement may be executed by the parties
in separate counterparts, each of which when so executed and delivered shall be
an original, but all such counterparts shall together constitute one and the
same instrument.
7.9 Captions. The captions contained in this Voting Agreement are for
convenience of reference only, shall not be deemed to be a part of this Voting
Agreement and shall not be referred to in connection with the construction or
interpretation of this Voting Agreement.
7.10 Waiver. No failure on the part of Acquiror to exercise any power,
right, privilege or remedy under this Voting Agreement, and no delay on the part
of Acquiror in exercising any power, right, privilege or remedy under this
Voting Agreement, shall operate as a waiver of such power, right, privilege or
remedy; and no single or partial exercise of any such power, right, privilege or
remedy shall preclude any other or further exercise thereof or of any other
power, right, privilege or remedy. Acquiror shall not be deemed to have waived
any claim available to Acquiror arising out of this Voting Agreement, or any
power, right, privilege or remedy of Acquiror under this Voting Agreement,
unless the waiver of such claim, power, right, privilege or remedy is expressly
set forth in a written instrument duly executed and delivered on behalf of
Acquiror; and any such waiver shall not be applicable or have any effect except
in the specific instance in which it is given.
7.11 Construction.
(a) For purposes of this Voting Agreement, whenever the context
requires: the singular number shall include the plural, and vice versa; the
masculine gender shall include the feminine and neuter genders; the feminine
gender shall include the masculine and neuter genders; and the neuter gender
shall include masculine and feminine genders.
(b) The parties agree that any rule of construction to the effect
that ambiguities are to be resolved against the drafting party shall not be
applied in the construction or interpretation of this Voting Agreement.
(c) As used in this Voting Agreement, the words "include" and
"including," and variations thereof, shall not be deemed to be terms of
limitation, but rather shall be deemed to be followed by the words "without
limitation."
(d) Except as otherwise indicated, all references in this Voting
Agreement to "Sections" and "Exhibits" are intended to refer to Sections of this
Voting Agreement and Exhibits to this Voting Agreement.
In Witness Whereof, Acquiror and Stockholder have caused this Voting
Agreement to be executed as of the date first written above.
Data Critical Corporation
By: /s/ Xxxxxxx X. Xxxxxx
-------------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Executive Vice President and Chief
Financial Officer
Stockholder
/s/ Xxxxxxx X. Xxxxxx
-------------------------------------------
(Signature)
Xxxxxxx X. Xxxxxx
-------------------------------------------
(Print Name)
Address: 0000 Xxxxxxx Xxxxx
Xxxxxxxxx, XX 00000
Facsimile: __________________________
Stockholder's Spouse
/s/ Jan Xxxxx Xxxxxx
-------------------------------------------
(Signature)
Jan Xxxxx Xxxxxx
-------------------------------------------
(Print Name)
Address: 0000 Xxxxxxx Xxxxx
Xxxxxxxxx, XX 00000
Facsimile: __________________________
Additional Securities
---------------------
Shares Held of Record Options and Other Rights Beneficially Owned
--------------------- ------------------------ ---------------------
Common Stock 4,298 Common Stock 39,375 None
