EXHIBIT 10.9
XXXXXXXXX.XXX, INC.
SERIES B PREFERRED STOCK RESCISSION AGREEMENT
This Series B Preferred Stock Rescission Agreement (the "Agreement") is
---------
made as of November 23, 1998 by and between XxxxXxxxx.xxx, Inc., a Delaware
corporation (the "Company"), and the investors listed on Exhibit A attached
------- ---------
hereto (each a "Purchaser" and together the "Purchasers").
--------- ----------
RECITALS
A. Pursuant to that certain Series B Preferred Stock Purchase
Agreement dated October 9, 1998 by and between the Company, the Purchasers and
certain other investors (the "Purchase Agreement"), the Company sold and the
------------------
Purchasers purchased an aggregate of 1,671,641 shares of the Company's Series B
Preferred Stock (the "Shares"), at a price of $3.35 per share for a total
------
purchase price of $5,599,997.35.
B. The Company and the Purchasers deem it to be in their respective
best interests to rescind the Purchasers' purchase of an aggregate of 89,552 of
the Shares.
AGREEMENT
Accordingly, the parties agree as follows:
1. RESCISSION OF SHARES. The Company and the Purchasers hereby
--------------------
rescind the sale of 89,552 of the Shares (the "Rescinded Shares"), in the
----------------
specific amounts listed on Exhibit A. Each Purchaser acknowledges and agrees
that it shall have no further right, title or interest in any of the Rescinded
Shares.
2. REFUND OF PURCHASE PRICE. The Company shall promptly refund to
------------------------
each Purchaser (by check or wire transfer) the amount paid by such Purchaser for
the Rescinded Shares, as indicated on Exhibit A (the "Purchase Price").
--------- --------------
3. ENTIRE AGREEMENT. This Agreement, along with the Purchase
----------------
Agreement and the documents referred to herein and therein, constitute the
entire agreement between the parties pertaining to the subject matter hereof,
and any and all other written or oral agreements relating to the subject matter
hereof existing between the parties are expressly canceled.
4. COUNTERPARTS. This Agreement may be executed in counterparts,
------------
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.
[Signature Page Follows]
SIGNATURE PAGE TO RESCISSION AGREEMENT
The parties have duly executed this Series B Preferred Stock Rescission
Agreement as of the date first written above.
COMPANY:
XXXXXXXXX.XXX, INC.
By: /s/ Xxxxx Xxxxxxx
----------------------------------------
Name: Xxxxx Xxxxxxx
Title: President and CEO
Address: 00000 XX 00xx Xxxxx
Xxxxxxx, XX 00000
PURCHASERS:
XXXXXXX XXXXXXX XXXXXXXX & XXXXX VIII, L.P.
By: KPCB VIII Associates, L.P., its
General Partner
By: /s/ Xxxxx X. Xxxxx
----------------------------------------
a General Partner
Address: 0000 Xxxx Xxxx Xxxx
Xxxxx Xxxx, XX 00000
KPCB VIII FOUNDERS FUND, L.P.
By: KPCB VIII Associates, L.P., its
General Partner
By: /s/ Xxxxx X. Xxxxx
----------------------------------------
a General Partner
Address: 0000 Xxxx Xxxx Xxxx
Xxxxx Xxxx, XX 00000
SIGNATURE PAGE TO RESCISSION AGREEMENT
KPCB Life Sciences Zaibatsu Fund II, L.P.
By: KPCB VII Associates, L.P., its General
Partner
By: /s/ Xxxxx X. Xxxxx
----------------------------------------
a General Partner
Address: 0000 Xxxx Xxxx Xxxx
Xxxxx Xxxx, XX 00000
SIGNATURE PAGE TO RESCISSION AGREEMENT
EXHIBIT A
---------
SCHEDULE OF PURCHASERS
PURCHASER NAME PURCHASE PRICE TO BE SHARES TO BE
RETURNED RESCINDED
------------------------------------------- ------------------------------ ---------------------
Xxxxxxx Xxxxxxx Xxxxxxxx & Xxxxx VIII, L.P. $269,400.30 80,418
KPCB VIII Founders Fund, L.P. $ 15,597.60 4,656
KPCB Life Sciences Zaibatsu Fund II, L.P. $ 15,001.30 4,478
TOTAL $299,999.20 89,552
XXXXXXXXX.XXX, INC.
RESCISSION OF SERIES B PREFERRED STOCK FROM XXXXXXX XXXXXXX ENTITIES
NOVEMBER 1998
--------------------------------------------------------------------------------------------------------------------------------
ORIGINAL INVESTMENT ORIGINAL SHARES ADJUSTED INVESTMENT ADJUSTED SHARES
--------------------------------------------------------------------------------------------------------------------------------
Xxxxxxx Xxxxxxx Xxxxxxxx & Xxxxx VIII, L.P. $ 5,028,798.90 1,501,134 $ 4,759,398.60 1,420,716
--------------------------------------------------------------------------------------------------------------------------------
KPCB VIII Founders Fund, L.P. $ 291,198.75 86,925 $ 275,601.15 82,269
--------------------------------------------------------------------------------------------------------------------------------
KPCB Life Sciences Zaibtsu Fund II, L.P. $ 279,999.70 83,582 $ 264,998.40 79,104
--------------------------------------------------------------------------------------------------------------------------------
TOTAL $ 5,599,997.35 1,671,641 $ 5,299.998.15 1,582,089
--------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------
RESCISSION AMOUNT RESCISSION SHARES
----------------------------------------------------------------------------------------------
Xxxxxxx Xxxxxxx Xxxxxxxx & Xxxxx VIII, L.P. $ 269,400.30 80,418
----------------------------------------------------------------------------------------------
KPCB VIII Founders Fund, L.P. $ 15,597.60 4,656
----------------------------------------------------------------------------------------------
KPCB Life Sciences Zaibtsu Fund II, L.P. $ 15,001.30 4,478
----------------------------------------------------------------------------------------------
TOTAL $ 299,999.20 89,552
----------------------------------------------------------------------------------------------
Page 1
