SHAREHOLDER SUPPORT AGREEMENT
THIS AGREEMENT is made as of the 26th day of September, 2006.
BETWEEN:
Xxxxxxx X. Xxxxxxxxx
(the “Shareholder”)
AND:
Millenium Pharmaceuticals, Inc., a corporation existing under the laws of the State
of Delaware
(the “Offeror”)
WHEREAS:
A. | The Shareholder is the registered and the beneficial owner of shares in the capital of AnorMED Inc. (the “Company”), as more particularly described herein; |
B. | The Shareholder understands that the Offeror and the Company are, concurrently with the execution and delivery of this Agreement, executing and delivering the Support Agreement providing for the Offer; |
C. | This Agreement sets out the terms and conditions of the agreement of the Shareholder (i) to tender its Shares or cause the same to be tendered to the Offer and (ii) to abide by the other restrictions and covenants set forth herein; and |
D. | The Shareholder acknowledges that (i) the Offeror would not enter into the Support Agreement but for the execution and delivery of this Agreement by the Shareholder, (ii) it is a condition of the Offeror’s obligation under the Support Agreement to make the Offer that the Shareholder enter into this Agreement with the Offeror, and (iii) in entering into this Agreement, the Shareholder acknowledges that it is not and should not be considered to be acting jointly and in concert with the Offeror in making the Offer. |
NOW THEREFORE this Agreement witnesses that, in consideration of the premises and the covenants and
agreements herein contained, the parties hereto agree as follows:
ARTICLE 1
INTERPRETATION
INTERPRETATION
1.1 Definitions In this Agreement
(a) | “affiliate” has the meaning assigned to such term under the Canada Business Corporations Act; |
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(b) | “Shareholder’s Shares” means all Shares (i) owned by the Shareholder or over which the Shareholder may exercise control or direction or (ii) acquired in lieu of or in replacement for any such Shares; | ||
(c) | “Support Agreement” means the support agreement dated the date hereof between the Offeror and the Company, a true copy of which has been delivered to the Shareholder simultaneously with this Agreement being entered into. |
1.2 Definitions in Support Agreement
All terms used in this Agreement that are not defined in Section 1.1 or elsewhere herein and that
are defined in the Support Agreement shall have the respective meanings ascribed to them in the
Support Agreement.
1.3 Schedules
The following Schedule attached hereto constitutes an integral part of this Agreement:
Schedule 4.1(b) — Ownership of Shares
ARTICLE 2
COVENANTS OF THE OFFEROR
COVENANTS OF THE OFFEROR
2.1 Offeror to Make Offer
The Offeror shall make or cause to be made the Offer on the terms and conditions set forth in the
Support Agreement. In the event that another entity affiliated with the Offeror makes the Offer in
accordance with terms and conditions of the Support Agreement, the Offeror shall cause such other
entity to become a party to this Agreement, upon which such other entity shall become entitled to
exercise all of the rights of the Offeror and subject to all of the obligations of the Offeror
under this Agreement but the Offeror shall continue to be jointly and severally liable for all such
obligations.
2.2 Changes to Offer
The Offeror shall not, without the prior written consent of the Shareholder: (i) increase the
Minimum Condition; (ii) decrease the consideration per Share (except in circumstances where,
following the date hereof, the Company has declared, set aside or paid any dividend or distribution
(whether in cash, stock, property or otherwise) with respect to the Shares); (iii) change the form
of consideration payable under the Offer (other than to add additional
consideration, whether in the form of cash or securities of the Parent or otherwise); (iv) decrease
the number of Shares in respect of which the Offer is made; or (v) impose additional conditions to
the Offer or otherwise materially vary the Offer (or any terms or conditions thereof) in either
case, in a manner which is materially adverse to the Shareholder.
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ARTICLE 3
COVENANTS OF THE SHAREHOLDER
COVENANTS OF THE SHAREHOLDER
3.1 General
The Shareholder hereby covenants and irrevocably agrees in favour of the Offeror that, from the
date hereof until the termination of this Agreement in accordance with Article 5, except as
permitted by this Agreement, the Shareholder shall:
(a) | not, and shall cause its directors, officers, general partners, employees, financial advisors, counsel, agents, trustees, partners or other representatives not to, directly or indirectly, (i) solicit, initiate or encourage any Alternative Transaction, (ii) participate in any discussions or negotiations with any Person (other than the Offeror and its Subsidiaries and their respective directors, officers, employees, agents, financial advisors, counsel or other representatives) in respect of any Alternative Transaction, (iii) provide any confidential information relating to the Company or its Subsidiaries to any Person in connection with any Alternative Transaction, (iv) accept or approve or recommend any Alternative Transaction, (v) cause the Company to enter into any agreement related to any Alternative Transaction or (vi) otherwise cooperate in any way with any effort or attempt by any other person to do or seek to do any of the foregoing, provided, however, that nothing contained in this section or other provisions of this agreement shall prevent the Shareholder or a nominee of the Shareholder, if a director of the Company, from engaging in deliberations solely in his or her capacity as a member of the Board of Directors in respect of an unsolicited bona fide Alternative Transaction under the terms and conditions set out in the Support Agreement; | ||
(b) | immediately cease and cause to be terminated all existing discussions and negotiations, if any, with any third party or any agent or representative of any third party conducted before the date of this Agreement with respect to any Alternative Transaction and request the return or destruction of all confidential information provided in connection therewith; | ||
(c) | not release or permit the release of any third party from any confidentiality or standstill obligation set forth in any agreement to which the such third party is a party or bound; | ||
(d) | immediately notify the Offeror of any Alternative Transaction, any bona fide inquiry, proposal, discussions or negotiation with respect to any potential Alternative Transaction of which the Shareholder or any of its directors, officers, employees, representatives, agents, trustees or partners becomes aware, except to the extent that the Shareholder has been advised by its legal counsel that to do so would cause a breach of its fiduciary duties to the Company or any of its Subsidiaries; such notice will include, to the extent known to such Shareholder, the material terms and conditions of such Alternative Transaction, inquiry, proposal, discussion or negotiation. Such notice to the Offeror shall be made |
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forthwith orally and in writing and shall indicate, to the extent known to such Shareholder, such details of the proposal, inquiry or contact as the Offeror may reasonably request, including the identity of the Person making such proposal, inquiry or contact and the terms and conditions of such Alternative Transaction, inquiry, proposal, discussion or negotiation; |
(e) | not option, sell, transfer, pledge, encumber, grant a security interest in, hypothecate or otherwise convey or enter into any forward sale, repurchase agreement or other monetization transaction with respect to any of the Shareholder’s Shares, or any right or interest therein (legal or equitable), to any Person or group or agree to do any of the foregoing; | ||
(f) | not grant or agree to grant any proxy, power of attorney or other right to vote the Shareholder’s Shares, or enter into any voting agreement, voting trust, vote pooling or other agreement with respect to the right to vote, call meetings of shareholders or give consents or approval of any kind with respect to any of the Shareholder’s Shares; | ||
(g) | not take any other action of any kind, directly or indirectly, which might reasonably be regarded as likely to reduce the success of, or delay or interfere with the completion of, the Offer and the other transactions contemplated by the Support Agreement and this Agreement; | ||
(h) | not vote or cause to be voted any of the Shareholder’s Shares in respect of any proposed action by the Company or its shareholders or affiliates or any other Person in a manner which might reasonably be regarded as likely to prevent or delay the successful completion of the Offer or the other transactions contemplated by the Support Agreement and this Agreement; | ||
(i) | use all commercially reasonable efforts in its capacity as a holder of Shares to assist the Company and the Offeror to successfully complete the Offer and the other transactions contemplated by the Support Agreement and this Agreement; | ||
(j) | not purchase or enter into any agreement or option or right to purchase any additional Shares or any other securities of the Company from and including the date hereof until the termination of this Agreement; | ||
(k) | not do indirectly that which it may not do directly in respect of the restrictions on its rights with respect to the Shareholder’s Shares pursuant to this Section 3.1; and | ||
(l) | upon the Offeror taking up and paying for the Shares tendered by the Shareholder, upon the written request of the Offeror, the Shareholder will or will cause any nominee or representative of the Shareholder who acts as a director of the Company or any of its Subsidiaries to resign in an orderly manner and to assist with the appointment of such person or persons identified by the Offeror as a substitute director of the Company. |
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3.2 Deposit of the Shareholder’s Shares under the Offer
The Shareholder hereby agrees with the Offeror that it will, as soon as practicable and in any
event on or before the fifteenth Business Day following the making of the Offer, cause all of its
Shareholder’s Shares and use its reasonable efforts to cause each of the Shareholder’s associates
who beneficially own or exercise control or direction over any Shares, to be validly tendered in
acceptance of the Offer together with the letter of transmittal or, if applicable, notice of
guaranteed delivery, and any other documents required in accordance with the Offer, and will not
withdraw the Shareholder’s Shares from the Offer except as expressly otherwise permitted under this
Agreement.
3.3 Co-operation/Substitute Transaction
If the Offeror concludes after the date of this Agreement that it is necessary or desirable to
proceed with a form of transaction other than the Offer (including, without limitation, a plan of
arrangement or amalgamation) whereby the Offeror and/or its affiliates would effectively acquire
all the Shares on economic and other terms and conditions (including, without limitation, tax
treatment) having consequences to the Shareholder that are no less favourable than those
contemplated by this Agreement (any such transaction is referred to as a “Substitute Transaction”),
the Shareholder agree to support the completion of the Substitute Transaction in the same manner as
the Offer, including by voting the Shareholder’s Shares in favour of the Substitute Transaction.
ARTICLE 4
REPRESENTATIONS AND WARRANTIES
REPRESENTATIONS AND WARRANTIES
4.1 Representations and Warranties of the Shareholder
The Shareholder hereby represents and warrants to and covenants with the Offeror as follows, and
acknowledges that the Offeror is relying upon such representations, warranties and covenants in
entering into this Agreement:
(a) | Incorporation and Authorization. The Shareholder has all necessary power, authority, capacity and right to enter into this Agreement and to carry out each of its obligations under this Agreement. This Agreement has been duly executed and delivered by the Shareholder and constitutes a legal, valid and binding obligation of the Shareholder enforceable against it in accordance with its terms, subject to bankruptcy and insolvency and other laws affecting the enforcement of creditors’ rights generally and subject to the qualification that equitable remedies may only be granted in the discretion of a court of competent jurisdiction. | ||
(b) | Ownership of Shares and Other Securities. The Shareholder is, and will be immediately prior to the Effective Date, the sole registered and beneficial owner of the Shareholder’s Shares shown opposite its name in Schedule 4.1(b) - Ownership of Shares, with good and marketable title thereto, free and clear of all Encumbrances, and has full legal right, power and authority to enter into this Agreement, to deposit the Shareholder’s Shares under the Offer and to sell the Shareholder’s Shares to the Offeror in accordance with this Agreement; upon |
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take-up of and payment for the Shareholder’s Shares, the Shareholder will have conveyed to the Offeror good and marketable title to the Shareholder’s Shares, free and clear of any Encumbrances. |
(c) | No Conflicts. None of the execution and delivery of this Agreement by the Shareholder, the consummation by the Shareholder of the transactions contemplated hereby nor compliance by the Shareholder with any of the provisions hereof will violate, conflict with, or result in a breach of any provision of, require any consent, approval or notice under, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) or result in a right of termination or acceleration under, any of the terms, conditions or provisions of: (i) the certificate of incorporation, certificate of limited partnership, Articles or by-laws or other constating documents of the Shareholder; or (ii) any material Contract to which the Shareholder is a party; or (iii) violate any judgment, ruling, order, writ, injunction, award, decree, statute, ordinance, rule or regulation applicable to the Shareholder. | ||
(d) | No Agreements. No Person has any agreement or option, or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option, for the purchase, acquisition or transfer of any of the Shareholder’s Shares, or any interest therein or right thereto, except pursuant to this Agreement. | ||
(e) | Voting. None of the Shareholder’s Shares is subject to any proxy, power of attorney, voting agreement, voting trust, vote pooling or other agreement with respect to the right to vote, call meetings of shareholders or give consents or approvals of any kind. | ||
(f) | Consents. No consent, waiver, approval, authorization, exemption, registration, licence or declaration of or by, or filing with, or notification to any Government Authority which has not been made or obtained is required to be made or obtained by the Shareholder in connection with (i) the execution and delivery by the Shareholder and enforcement against the Shareholder of this Agreement or (ii) the consummation of any transactions by the Shareholder provided for herein, except for, in either case, the filing of xxxxxxx xxxxxxx reports under applicable securities legislation. | ||
(g) | Legal Proceedings. There are no legal proceedings in progress or pending before any Government Authority or threatened against the Shareholder or any of its affiliates that would adversely affect in any manner the ability of the Shareholder to enter into this Agreement and to perform its obligations hereunder or the title of the Shareholder to any of the Shareholder’s Shares and there is no judgment, decree or order against the Shareholder that would adversely affect in any manner the ability of the Shareholder to enter into this Agreement and to perform its obligations hereunder or the title of the Shareholder to any of the Shareholder’s Shares. |
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(h) | Agreements with Company. Except as disclosed in the Company Reports or as previously disclosed in writing to the Offeror, the Shareholder is not a party to any Contract with the Company or any of its Subsidiaries. | ||
(i) | Claims. Except as disclosed in the Company Reports or as previously disclosed in writing to the Offeror, the Shareholder has no Claims against the Company or any of its Subsidiaries as of the date hereof and will not have any Claims against the Company or any of its Subsidiaries by reason of entering into this Agreement. | ||
(j) | Material Information. The Shareholder has no actual knowledge of (i) a material fact (as defined in the Securities Act (British Columbia)) with respect to the Shares, (ii) a material change (as defined in the Securities Act (British Columbia)) with respect to the Company, in the case of (i) and (ii) above, that has not been publicly disclosed by the Company, or (iii) an omission by the Company to state a material fact that is required to be stated or that is necessary to be stated to make a statement made by the Company not misleading in light of the circumstances in which it was made, in each case, other than the transactions contemplated herein. | ||
(k) | Company Public Disclosure Documents. To the best of the knowledge of the Shareholder: (i) the Company Reports did not, at the time filed, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (ii) the Company has publicly disclosed in the Company Reports any information regarding any event, circumstances or action taken or failed to be taken by the Company or its subsidiaries which could individually or in the aggregate reasonably be expected to be materially adverse to the Company or its subsidiaries, either individually or in the aggregate. | ||
(l) | Company Representations and Warranties. To the best of the knowledge of the Shareholder, all of the representations and warranties of the Company set forth in the Support Agreement are true and correct. |
The representations and warranties of the Shareholder set forth in this Section 4.1 shall survive
the completion of the purchase by the Offeror of the Shareholder’s Shares and despite such
completion, shall continue in full force and effect for the benefit of the Offeror.
4.2 Representations and Warranties of the Offeror
The Offeror hereby represents and warrants to the Shareholder each of the representations and
warranties of the Offeror contained in the Support Agreement, which are incorporated herein by
reference, and that:
(a) | Incorporation. The Offeror is a corporation duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware. |
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(b) | Power and Authority. The Offeror has the requisite corporate power and authority to enter into this Agreement and to carry out its obligations hereunder. This Agreement has been duly executed and delivered by the Parent and constitutes the legal, valid and binding obligation of the Parent enforceable against it in accordance with its terms, subject to bankruptcy and insolvency and other laws affecting the enforcement of creditors’ rights generally and subject to the qualification that equitable remedies may only be granted in the discretion of a court of competent jurisdiction. | ||
(c) | No Conflicts. None of the execution and delivery of this Agreement by the Offeror, the consummation by the Offeror of the transactions contemplated hereby nor compliance by the Offeror with any of the provisions hereof will violate, conflict with, or result in a breach of any provision of, require any consent, approval or notice under, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) or result in a right of termination or acceleration under, any of the terms, conditions or provisions of: (i) the certificate of incorporation or by-laws of the Offeror; or (ii) any material Contract to which the Offeror or any of its Subsidiaries is a party; or (iii) subject to compliance with applicable Laws as provided in the Support Agreement, violate any judgment, ruling, order, writ, injunction, award, decree, statute, ordinance, rule or regulation applicable to the Offeror or any of its Subsidiaries. | ||
(d) | Consents. No consent, approval or authorization of or declaration or filing with, or notice to, any Government Authority which has not been received or made is required by the Offeror in connection with the execution and delivery of this Agreement by the Offeror, except as provided in the Support Agreement. |
The representations and warranties of the Offeror set forth in this Section 4.2 shall survive the
completion of the purchase by the Offeror of the Shareholder’s Shares and despite such completion,
shall continue in full force and effect for the benefit of the Shareholder.
ARTICLE 5
TERMINATION
TERMINATION
5.1 Termination by the Offeror
The Offeror, when not in material default in the performance of its obligations under this
Agreement or the Support Agreement, may, without prejudice to any of its rights hereunder and in
its sole discretion, terminate this Agreement by written notice to the Shareholder if:
(a) | any of the representations and warranties of the Shareholder under this Agreement shall not be true and correct in all material respects; | ||
(b) | the Shareholder shall not have complied in all material respects with its covenants to the Offeror contained in this Agreement; | ||
(c) | the Offeror shall not be required to make the Offer under the terms and conditions of the Support Agreement; |
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(d) | any condition to completion of the Offer, as set out in Schedule 2.1(a) to the Support Agreement, is not satisfied or waived prior to the Expiry Date; or | ||
(e) | the Offeror withdraws the Offer without having taken up the Shareholder’s Shares deposited thereunder. |
5.2 Termination by the Shareholder
The Shareholder, when not in material default in the performance of its obligations under this
Agreement, may, without prejudice to any of its rights hereunder and in its sole discretion,
terminate this Agreement by written notice to the Offeror if:
(a) | any of the representations and warranties of the Offeror under this Agreement shall not be true and correct in all material respects; | ||
(b) | the Offeror shall not have complied in all material respects with its covenants to the Shareholder contained herein; or | ||
(c) | if the Shareholder’s Shares have not been taken up and paid for under the Offer within 20 days following the Expiry Date. |
5.3 Agreement to Terminate
This Agreement may be terminated by a written instrument executed by the Offeror and the
Shareholder.
5.4 Effect of Termination
If this Agreement is terminated in accordance with this Article 5, the provisions of this Agreement
will become null and void and of no further force and effect and no party shall have liability to
any other party, except in respect of a breach of this Agreement which occurred prior to such
termination, and the Offeror shall no longer be required to make or pursue the Offer and, if the
Offer has been made, the Shareholder shall be entitled to withdraw the Shareholder’s Shares from
the Offer.
ARTICLE 6
GENERAL
GENERAL
6.1 Further Assurances
Each of the Shareholder and the Offeror will, from time to time, promptly execute and deliver all
such further documents and instruments and do all such acts and things as the other party may
reasonably require to effectively carry out or better evidence or perfect the full intent and
meaning of this Agreement.
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6.2 Survival of Representations and Warranties
No investigations made by or on behalf of the Offeror or any of its authorized agents at any time
shall have the effect of waiving, diminishing the scope of or otherwise affecting any
representation, warranty or covenant made by the Shareholder herein or pursuant hereto.
6.3 Disclosure
Except as expressly contemplated herein or as required by applicable Laws or by any Government
Authority or Securities Authority, no party shall make any public announcement or statement with
respect to this Agreement or the transactions contemplated herein without the approval of the other
party, which approval shall not be unreasonably withheld or delayed. The Shareholder acknowledges
that the Offeror and the Company are required by Law to disclose the nature and substance of this
Agreement in the Bid Circular and Directors’ Circular and a copy may be filed with applicable
Securities Authorities. The parties agree to consult with each other prior to issuing any public
announcement or statement with respect to this Agreement or the transactions contemplated herein.
6.4 Singular, Plural, etc.
In this Agreement, words importing the singular number include the plural and vice versa and words
importing gender include the masculine, feminine and neuter genders. Unless the context otherwise
requires, any reference to a “party” herein is a reference to a party hereto. Any references to
“including” or “includes” means “including (or includes) without limitation”.
6.5 Deemed Currency
Unless otherwise expressly stated, all references to dollars, “$” or currency herein shall be
deemed to be references to U.S. currency.
6.6 Headings, etc.
The division of this Agreement into Articles, Sections and Schedules, the provision of a table of
contents hereto and the insertion of the recitals and headings are for convenience of reference
only and shall not affect the construction or interpretation of this Agreement and, unless
otherwise stated, all references in this Agreement or in the Schedules hereto to Articles, Sections
and Schedules refer to Articles, Sections and Schedules of and to this Agreement or of the
Schedules in which such reference is made, as applicable.
6.7 Date for any Action
In the event that any date on which any action is required to be taken hereunder by any of the
parties is not a Business Day, such action shall be required to be taken on the next succeeding day
which is a Business Day.
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6.8 Governing Law
This Agreement shall be governed by and interpreted in accordance with the laws of the Province of
British Columbia and the laws of Canada applicable therein.
6.9 Attornment
The parties hereby irrevocably and unconditionally consent to and submit to the non-exclusive
jurisdiction of the courts of the Province of British Columbia for any actions, suits or
proceedings arising out of or relating to this Agreement or the matters contemplated hereby and
further agree that service of any process, summons, notice or document by single registered mail to
the addresses of the parties set forth in this Agreement shall be effective service of process for
any action, suit or proceeding brought against either party in such court. The parties hereby
irrevocably and unconditionally waive any objection to the laying of venue of any action, suit or
proceeding arising out of this Agreement or the matters contemplated hereby in the courts of the
Province of British Columbia and hereby further irrevocably and unconditionally waive and agree not
to plead or claim in any such court that any such action, suit or proceeding so brought has been
brought in an inconvenient forum.
6.10 Entire Agreement
This Agreement, including the schedules hereto and the provisions of the Support Agreement
incorporated herein by reference, constitutes the entire agreement and understanding between and
among the parties hereto with respect to the subject matter hereof and supersedes any prior
agreement or understanding with respect thereto.
6.11 Amendments
This Agreement may not be modified, amended, altered or supplemented, except by written agreement
executed by all of the parties hereto.
6.12 Notices
Any notice, consent, waiver, direction or other communication required or permitted to be given
under this Agreement by a party shall be in writing and shall be given by delivery, or by facsimile
transmission or by delivery addressed to the party to which the notice is to be given at its
address for service herein. Any notice, consent, waiver, direction or other communication
aforesaid shall, if delivered, be deemed to have been given and received on the date on which it
was delivered to the address provided herein (if a Business Day, if not, then the next succeeding
Business Day) and if sent by facsimile transmission be deemed to have been given and received at
the time of receipt (if a Business Day, if not, then the next succeeding Business Day) unless
actually received after 4:00 p.m. (Vancouver time) at the point of delivery in which case it shall
be deemed to have been given and received on the next Business Day.
The address for service for each of the parties hereto shall be as follows:
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(a) | if to the Shareholder: |
Xxxxxxx X. Xxxxxxxxx
0000 000xx Xxxxxx
Xxxxxx, X.X.
X0X 0X0
0000 000xx Xxxxxx
Xxxxxx, X.X.
X0X 0X0
Fax No.: 000-000-0000
(b) | if to the Offeror: |
Millenium Pharmaceuticals Inc.
00 Xxxxxxxxxx Xxxxxx
Xxxxxxxxx, XX
00000
00 Xxxxxxxxxx Xxxxxx
Xxxxxxxxx, XX
00000
Attention: General Counsel
Fax No.: 000-000-0000
Fax No.: 000-000-0000
with a copy for information purposes but not as notice to:
XxXxxxxx Xxxxxxxx
Suite 1300, 000 Xxxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx X0X 0X0
Suite 1300, 000 Xxxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxx Xxxxxxxx
Xxxxxx X0X 0X0
Attention: Xxx XxXxxxxxxx
Fax No.: 000-000-0000
Fax No.: 000-000-0000
and to:
Xxxxxx Xxxx
000 Xxxxx Xxxxxx
Xxxxxx, XX
00000
000 Xxxxx Xxxxxx
Xxxxxx, XX
00000
Attention: Xxxxxxx Xx Xxxxxx
Fax No.: 000-000-0000
Fax No.: 000-000-0000
6.13 Specific Performance and other Equitable Rights
It is recognized and acknowledged that a breach by any party of any material obligations contained
in this Agreement will cause the other party to sustain injury for which it would not
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have an adequate remedy at law for money damages. Accordingly, in the event of any such breach,
any aggrieved party shall be entitled to the remedy of specific performance of such obligations and
interlocutory, preliminary and permanent injunctive and other equitable relief in addition to any
other remedy to which it may be entitled, at law or in equity.
6.14 Assignment
Except as expressly permitted by the terms hereof, neither this Agreement nor any of the rights,
interests or obligations hereunder shall be assigned by either of the parties without the prior
express written consent of the other party. Notwithstanding the foregoing provisions of this
Section 6.14, the Offeror may assign all or any part of its rights or obligations under this
Agreement to a direct or indirect wholly-owned Subsidiary of the Offeror, to a corporation which
directly or indirectly wholly-owns the Offeror, or to a direct or indirect wholly-owned Subsidiary
of such a corporation, provided that any such assignment will have no material adverse tax or other
effects to the Shareholder under the Offer, and provided further that if such assignment takes
place, the Offeror shall continue to be liable to the Company for any default in performance by the
assignee.
6.15 Expenses
Each of the parties shall pay its respective legal, financial advisory and accounting costs and
expenses incurred in connection with the preparation, execution and delivery of this Agreement and
all documents and instruments executed or prepared pursuant hereto and any other costs and expenses
whatsoever and howsoever incurred.
6.16 Severability
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable Law. Any provision of this Agreement that is invalid or
unenforceable in any jurisdiction shall be ineffective only to the extent of such invalidity or
unenforceability without invalidating or rendering unenforceable the remaining provisions hereof,
and any such invalidity or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.
6.17 Counterpart Execution
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be
an original but all of which together shall constitute one and the same agreement effective as of
the date hereof.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date
first written above.
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MILLENIUM PHARMACEUTICALS, INC. |
||||
By: | /s/ Xxxxxx X. Xxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxx | |||
Title: | Senior Vice President & General Counsel | |||
/s/ Xxxxxxx X. Xxxxxxxxx | ||||
Xxxxxxx X. Xxxxxxxxx | ||||
Schedule 4.1(b) — Ownership of Shares
Registered and Beneficial Owner | Number and Class of Shares | |
Xxxxxxx X. Xxxxxxxxx
|
Nil* |
* | Xxx Xxxxxxxxx holds 105,000 options |