CLASS A STOCKHOLDERS’ REGISTRATION RIGHTS AGREEMENT
Exhibit 4.3
THIS CLASS A STOCKHOLDERS’ REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of
September 22, 2006, by and among Emergent Biosolutions, Inc., a Delaware corporation (together with
any successor thereto, the “Company”) and the holders of the Company’s Class A Common Stock, $0.01
par value per share, listed on Exhibit A attached hereto (each, a “Stockholder” and
together, the “Stockholders”). The Company and each of the Stockholders are referred to herein as
a “Party” and collectively, as the “Parties”.
WHEREAS, the Stockholders are the owners of issued and outstanding voting capital stock of the
Company as more fully set forth on Exhibit A attached hereto; and
WHEREAS, the Company and each of the Stockholders desire to provide for certain arrangements
with respect to the registration of shares of capital stock of the Company.
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth in this
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties hereto agree as follows:
1. Certain Definitions. Capitalized terms used in this Agreement and not otherwise
defined shall have the following respective meanings:
“Agreement” shall mean this Class A Stockholders’ Registration Rights Agreement, as amended,
restated, supplemented or otherwise modified from time to time.
“Commission” shall mean the United States Securities and Exchange Commission or any other
federal agency at the time administering the Securities Act and the Exchange Act.
“Common Stock” shall mean the Company’s Class A Common Stock, $0.01 par value per share.
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, or any similar
successor federal statute, and the rules and regulations of the Commission thereunder, all as the
same shall be in effect at the time.
“Holder” shall mean each Stockholder or other holder of Registrable Securities who was
assigned registration rights by a Stockholder hereunder, in accordance with Section 7 hereof.
“Initial Public Offering” shall mean the first underwritten public offering of Common Stock
for the account of the Company and offered on a “firm commitment” basis pursuant to an offering
registered under the Securities Act with the Commission on Form S-1 or its then equivalent.
“Majority Holders” has the meaning set forth in Section 2(a)(ii).
“Other Registrable Securities” shall mean securities of the Company (other than the
Registrable Securities) that holders of securities of the Company are entitled, by contract with
the Company, to have included in a registration statement (other than a registration statement on
Form S-4 or Form S-8 promulgated under the Securities Act or any successor forms thereto) filed by
the Company with the Commission for a public offering and sale of securities by the Company.
“Person” shall mean any individual, sole proprietorship, partnership, joint venture, trust,
unincorporated organization, association, corporation, limited liability company, institution,
public benefit corporation, other entity or government (whether federal, state, county, city,
municipal, local, foreign, or otherwise, including any instrumentality, division, agency, body or
department thereof).
“Registrable Securities” shall mean (a) the shares of Common Stock issuable or issued to each
Stockholder, (b) any Common Stock issued or issuable upon conversion of any capital stock of the
Company acquired by the Stockholders after the date hereof and (c) any Common Stock issued as (or
issuable upon the conversion or exercise of any warrant, right or other security which is issued
as) a dividend, stock split or other distribution with respect to, or in exchange for or in
replacement of, the shares referenced in clause (a) and (b) above;
provided, however, that notwithstanding anything to the contrary contained herein,
“Registrable Securities” shall not at any time include any securities (i) registered and sold
pursuant to the Securities Act, (ii) sold pursuant to Rule 144 or (iii) which could then be sold in
their entirety pursuant to Rule 144 without limitation or restriction.
“Registration Date” shall mean the date upon which the registration statement pursuant to
which the Company shall have initially registered shares of Common Stock under the Securities Act
for sale to the public shall have been declared effective.
“Rule 144” shall mean Rule 144 promulgated under the Securities Act or any successor
regulation.
“Securities Act” shall mean the Securities Act of 1933, as amended, or any similar successor
federal statute, and the rules and regulations of the Commission thereunder, all as the same shall
be in effect at the time.
2. Registrations.
(a) Demand Registration.
(i) At any time after the expiration of 90 days after the Registration Date, if the
Company receives from the Holders of Registrable Securities then outstanding, a written
request to file a registration statement for Registrable Securities under the Securities Act
(a “Demand Notice”) in accordance with this Section 2(a), for which the anticipated
aggregate offering price to the public is not less than $25,000,000, then the Company shall
use commercially reasonable efforts to effect, as soon as practicable, such a registration
statement. Upon receipt of a Demand Notice, the Company shall give written notice of such
proposed registration to all Holders and shall offer to include in
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such proposed registration any Registrable Securities requested to be included in such
proposed registration by such Holders who respond in writing to the Company’s notice within
30 days after delivery of such notice (which response shall specify the number of
Registrable Securities proposed to be included in such registration). The Company shall use
commercially reasonable efforts, as soon as practicable, to effect such registration on an
appropriate form, including Form S-2 or S-3, if available, under the Securities Act of the
Registrable Securities which the Company has been so requested to register;
provided, however, that the Company shall not be obligated to effect any
registration under the Securities Act except in accordance with the following provisions:
(A) The Company shall not be obligated to file more than one registration
statement initiated by the Holders of Registrable Securities pursuant to this
Section 2(a);
(B) The Company shall not be obligated to file a registration statement during
the period following the Registration Date when any of the Holders is subject to any
restrictions on disposition of Registrable Securities pursuant to any agreement
described in Section 6(a); and
(C) The Company shall not be obligated to file any registration statement
during any period in which any other registration statement (other than on Form S-4
or Form S-8 promulgated under the Securities Act or any successor forms thereto)
pursuant to which securities of the Company are to be or were sold has been filed
and not withdrawn or has been declared effective within the prior [90] days.
(ii) If the Holders of a majority of the Registrable Securities requested to be
included in a registration pursuant to this Section 2(a) (the “Majority Holders”) so
elect, the offering of such Registrable Securities pursuant to such registration shall be in
the form of an underwritten offering. In the event of such election, the Majority Holders
shall select one or more nationally recognized firms of investment bankers reasonably
acceptable to the Company to act as the lead managing underwriter or underwriters in
connection with such offering and shall select any additional investment bankers and
managers to be used in connection with the offering, which shall also be reasonably
acceptable to the Company.
(iii) With respect to any registration pursuant to this Section 2(a), the
Company may include in such registration any Common Stock for its own account or on the
account of others; provided, however, that if a managing underwriter, if
any, advises the Company that the inclusion of all Registrable Securities and Common Stock
requested to be included by the Company in such registration would interfere with the
successful marketing (including pricing) of all such securities, then the number of
Registrable Securities and Common Stock proposed to be included in such registration shall
be included in the following order:
(A) first, the Registrable Securities and the Other Registrable
Securities shall be included, pro rata based upon the aggregate number of
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Registrable Securities and Other Registrable Securities to be included at the
time of such registration; and
(B) second, any other Common Stock requested to be included by the
Company for its own account or on the account of others.
(iv) At any time before the registration statement covering Registrable Securities
becomes effective, the Majority Holders may request the Company to withdraw or not to file
the registration statement. In that event, if such request of withdrawal shall have been
caused by, or made in response to, a material adverse effect or change in the Company’s
financial condition, operations, business or prospects, such Holders of Registrable
Securities shall not be deemed to have used their demand registration rights under this
Section 2(a).
(b) Piggyback Registration. If, at any time or times after (but not including) an
Initial Public Offering, the Company shall seek to register any shares of its Common Stock under
the Securities Act for sale to the public for its own account or on the account of others (except
with respect to registration statements on Form X-0, X-0 or another form not available for
registering the Registrable Securities for sale to the public), the Company will give written
notice thereof to all Holders. If within 15 business days after their receipt of such notice one
or more Holders request in writing the inclusion of some or all of the Registrable Securities owned
by them in such registration, the Company will use commercially reasonable efforts to effect the
registration under the Securities Act of such Registrable Securities. In the case of the
registration of shares of capital stock by the Company in connection with any underwritten public
offering, if the principal underwriter determines that the number of Registrable Securities to be
offered must be limited, the Company shall not be required to register Registrable Securities of
the Holders in excess of the amount, if any, of shares of the capital stock which the principal
underwriter of such underwritten offering shall reasonably and in good faith agree to include in
such offering in addition to any amount to be registered for the account of the Company.
3. Further Obligations of the Company.
(a) Whenever the Company is required hereunder to register any Registrable Securities, it
agrees that it shall also do the following:
(i) Prepare and file, and use commercially reasonable efforts to cause to become effective,
with the Commission a registration statement and such amendments and supplements to said
registration statement and the prospectus used in connection therewith as may be necessary to keep
said registration statement effective until the Holder or Holders have completed the distribution
described in the registration statement relating thereto (but for no more than 180 days or such
lesser period until all such Registrable Securities are sold) and to comply with the provisions of
the Securities Act with respect to the sale of securities covered by said registration statement
for such period;
(ii) Furnish to each selling Holder a draft copy of the registration statement and such copies
of each preliminary and final prospectus as such Holder may
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reasonably request to facilitate the public offering of its Registrable Securities;
(iii) Enter into and perform its obligations under any reasonable underwriting agreement
required by the proposed underwriter, if any, in such form and containing such terms as are
customary;
(iv) Use its commercially reasonable efforts to register or qualify the securities covered by
said registration statement under the securities or “blue sky” laws of such jurisdictions as any
selling Holder may reasonably request provided the Company shall not be required to qualify to do
business or file a general consent to service of process in connection therewith;
(v) Cause upon or immediately after the effectiveness of a registration all such Registrable
Securities to be listed on each securities exchange or quotation system on which the Common Stock
of the Company is then listed or quoted;
(vi) notify each Holder of Registrable Securities covered by a registration statement, at any
time when a prospectus relating thereto is required to be delivered under the Securities Act, of
(A) the issuance of any stop order by the Commission in respect of such registration statement, or
(B) the happening of any event as a result of which the prospectus included in such registration
statement, as then in effect, includes an untrue statement of a material fact or omits to state a
material fact required to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances then existing; and
(vii) provide a transfer agent and registrar for all Registrable Securities registered
pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later
than the effective date of such registration.
(b) With a view to making available to the Holders the benefits of Rule 144, the Company
agrees to:
(i) make and keep public information available, as those terms are understood and defined in
Rule 144, at all times after the effective date of the Initial Public Offering;
(ii) file with the Commission in a timely manner all reports and other documents required of
the Company under the Securities Act and the Exchange Act, if any; and
(iii) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith
upon request (A) a written statement by the Company that it has complied with the information and
reporting requirements of Rule 144(c) and (B) a copy of the most recent annual or quarterly report
of the Company and such other reports and documents so filed by the Company.
(c) From and after the date of this Agreement, the Company shall not, without the prior
written consent of the Holders of a majority of the outstanding Registrable Securities, enter into
any agreement with any holder or prospective holder of any securities of the Company that would
allow such holder or prospective holder to include such securities in any registration
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statement filed under Section 2 hereof, unless under the terms of such agreement, such
holder or prospective holder may include such securities in any such registration only to the
extent that the inclusion of such securities will not reduce the amount of the Registrable
Securities of the Holders that are included.
4. Payment of Expenses by; Cooperation by, and Obligations of, Prospective Sellers.
(a) Notwithstanding any other provision in this Agreement to the contrary, the Company and
the Holders shall each pay one-half of all expenses of any registration effected pursuant to
Section 2(a) hereof and the Holders shall pay in full any incremental expenses of
including the Holders’ Registrable Securities in a Piggyback Registration pursuant to Section
2(b) hereof, including, without limitation, all legal and accounting fees, printing costs,
listing fees and miscellaneous expenses, but excluding underwriters’ commissions or discounts
attributable to the Registrable Securities being offered and sold by the Holders, which shall be
borne exclusively by the Holders.
(b) Each prospective seller of Registrable Securities shall furnish to the Company in writing
such information as the Company may reasonably request from such seller in connection with any
registration statement with respect to such Registrable Securities.
(c) The failure of any prospective seller of Registrable Securities to furnish any
information or documents in accordance with any provision contained in this Agreement shall not
affect the obligations of the Company under this Agreement to any remaining sellers who furnish
such information and documents unless, in the reasonable opinion of counsel to the Company and/or
the underwriters, such failure impairs or adversely affects the offering or the legality of the
registration statement or causes the request not to meet the requirements of Section 2 of
this Agreement.
(d) Upon receipt of a notice (telephonic or written) from the Company or the underwriter of
the happening of an event which makes any statement made in a registration statement or related
prospectus covering Registrable Securities untrue or which requires the making of any changes in
such registration statement or prospectus so that they will not contain any untrue statement of
material fact or omit to state any material fact required to be stated therein or necessary to
make the statements therein in light of the circumstances under which they were made not
misleading, the Holders of Registrable Securities included in such registration statement shall
discontinue disposition of such Registrable Securities pursuant to such registration statement
until such Holders’ receipt of copies of the supplemented or amended prospectus or until advised
by the Company or the underwriters that dispositions may be resumed.
(e) Each Holder of Registrable Securities included in any registration statement will effect
sales of such securities in accordance with the plan of distribution given to the Company.
(f) At the end of any period during which the Company is obligated to keep any registration
statement current and effective as provided in this Agreement, the Holders of
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Registrable Securities included in such registration statement shall discontinue sales of
shares pursuant to such registration statement, unless they receive notice from the Company of its
intention to continue effectiveness of such registration statement with respect to such shares
which remain unsold and such Holders shall notify the Company of the number of shares registered
which remain unsold promptly upon expiration of the period during which the Company is obligated
to maintain the effectiveness of the registration statement.
(g) No Person may participate in any underwritten registration pursuant to this Agreement
unless such Person (i) agrees to sell such Person’s securities on the basis provided in any
underwriting arrangements made with respect to such registration and (ii) completes and executes
all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents
reasonably required by the terms of such underwriting arrangements.
5. Indemnification; Contribution.
(a) Incident to any registration of any Registrable Securities under the Securities Act
pursuant to this Agreement, the Company will indemnify and hold harmless each Holder who offers or
sells any such Registrable Securities in connection with such registration statement (including
its partners (including partners of partners and stockholders of any such partners), and
directors, officers, employees, representatives and agents of any of them, and each person who
controls any of them within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act), from and against any and all losses, claims, damages, reasonable expenses and
liabilities, joint or several (including any reasonable investigation, legal and other expenses
incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding
or any claim asserted, as the same are incurred), to which they, or any of them, may become
subject under the Securities Act, the Exchange Act or other federal or state statutory law or
regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities
arise out of or are based on (i) any untrue statement or alleged untrue statement of a material
fact contained in such registration statement (including any related preliminary or definitive
prospectus, or any amendment or supplement to such registration statement or prospectus) or (ii)
any omission or alleged omission to state in such document a material fact required to be stated
in it or necessary to make the statements in it not misleading; provided, however,
that the Company will not be liable to the extent that (1) such loss, claim, damage, expense or
liability arises from and is based on an untrue statement or omission or alleged untrue statement
or omission made in reliance on and in conformity with information furnished in writing to the
Company by or on behalf of such Holder in accordance with Section 4(b) of this Agreement
for use in such registration statement, or (2) in the case of a sale directly by such Holder
(including a sale of Registrable Securities through any underwriter retained by such Holder to
engage in a distribution solely on behalf of such Holder), such untrue statement or alleged untrue
statement or omission or alleged omission was contained in a preliminary prospectus and corrected
in a final or amended prospectus, and such Holder failed to deliver a copy of the final or amended
prospectus at or prior to the confirmation of the sale of the Registrable Securities to the Person
asserting any such loss, claim, damage or liability in any case where such delivery is required by
the Securities Act or any state securities laws. With respect to such untrue statement or
omission or alleged untrue statement or omission in the information furnished in writing to the
Company by or on behalf of such Holder in accordance with Section 4(b) of this Agreement
for use in such registration statement, such Holder, on a
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several and not joint basis, will indemnify and hold harmless the Company (including its
directors, officers, employees, representatives and agents), each other Holder (including its
partners (including partners of partners and stockholders of such partners) and directors,
officers, employees, representatives and agents of any of them, and each person who controls any
of them within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act),
from and against any and all losses, claims, damages, reasonable expenses and liabilities, joint
or several (including any reasonable investigation, legal and other expenses incurred in
connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim
asserted, as the same are incurred), to which they, or any of them, may become subject under the
Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common
law or otherwise.
(b) If the indemnification provided for in Section 5(a) above for any reason is held
by a court of competent jurisdiction to be unavailable to an indemnified party in respect of any
losses, claims, damages, expenses or liabilities referred to therein, then each indemnifying party
under this Section 5, in lieu of indemnifying such indemnified party thereunder, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages, expenses or liabilities (i) in such proportion as is appropriate to reflect the
relative benefits received by the Company and the other Holders from the offering of the
Registrable Securities or (ii) if the allocation provided by clause (i) above is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) above but also the relative fault of the Company and the other Holders
in connection with the statements or omissions which resulted in such losses, claims, damages,
expenses or liabilities, as well as any other relevant equitable considerations. The relative
benefits received by the Company and the Holders shall be deemed to be in the same respective
proportions that the net proceeds from the offering received by the Company and the Holders, in
each case as set forth in the table on the cover page of the applicable prospectus, bear to the
aggregate public offering price of the Registrable Securities. The relative fault of the Company
and the Holders shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by or on behalf of the Company or the Holders and
the Parties’ relative intent, knowledge and access to information.
The Company and the Holders agree that it would not be just and equitable if contribution
pursuant to this Section 5(b) were determined by pro rata or per capita allocation or by
any other method of allocation which does not take account of the equitable considerations referred
to in the immediately preceding paragraph. No person found guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not found guilty of such fraudulent misrepresentation.
(c) The amount paid by an indemnifying party or payable to an indemnified party as a result of
the losses, claims, damages and liabilities referred to in this Section 5 shall be deemed
to include, subject to the limitations set forth above, any legal or other expenses reasonably
incurred by such indemnified party in connection with investigating or defending any such action or
claim, payable as the same are incurred. The indemnification and contribution provided for in this
Section 5 will remain in full force and effect regardless of any investigation made by or
on behalf of the indemnified parties or any officer, director, employee, agent or
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controlling person of the indemnified parties. No indemnifying party, in the defense of any
such claim or litigation, shall enter into a consent of entry of any judgment or enter into a
settlement without the consent of the indemnified party, which consent will not be unreasonably
withheld. Any indemnified party that proposes to assert the right to be indemnified under this
Section 5 will, promptly after receipt of notice of commencement or threat of any claim or
action against such party in respect of which a claim is to be made against an indemnifying party
under this Section 5 notify the indemnifying party in writing (such written notice, an
“Indemnification Notice”) of the commencement or threat of such action, enclosing a copy of all
papers served or notices received (if applicable), but the omission so to notify the indemnifying
party will not relieve the indemnifying party from any liability that the indemnifying party may
have to any indemnified party under the foregoing provisions of this Section 5 unless, and
only to the extent that, such omission results in the forfeiture of substantive rights or defenses
by the indemnifying party. The indemnified party will have the right to retain its own counsel in
any such action if (i) the employment of counsel by the indemnified party has been authorized by
the indemnifying party, (ii) the indemnified party’s counsel, with the concurrence of indemnifying
party’s counsel, shall have reasonably concluded that there is a substantial likelihood of a
conflict of interest between the indemnifying party and the indemnified party in the conduct of the
defense of such action or (iii) the indemnifying party shall not in fact have employed counsel to
assume the defense of such action within a reasonable period of time following its receipt of the
Indemnification Notice, in each of which cases the fees and expenses of the indemnified party’s
separate counsel shall be at the expense of the indemnifying party; provided,
however, that the indemnified party shall agree to repay any expenses so advanced hereunder
if it is ultimately determined by a court of competent jurisdiction that the indemnified party to
whom such expenses are advanced is not entitled to be indemnified; and provided,
further, that so long as the indemnified party has reasonably concluded that no conflict of
interest exists, the indemnifying party may assume the defense of any action hereunder with counsel
reasonably satisfactory to the indemnified party.
(d) In the event of an underwritten offering of Registrable Securities under this Agreement,
the Company and the Holders shall enter into standard indemnification and underwriting agreements
with the underwriter thereof. To the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection with the
underwritten public offering are in conflict with the provisions of this Section 5, the
provisions in the underwriting agreement shall control.
(e) The obligation of the Company and Holders under this Section 5 shall survive the
completion of any offering of Registrable Securities in a registration statement under Section
2, and otherwise.
6. Market Standoff Agreement.
(a) In connection with the Initial Public Offering by the Company, each Holder, if requested
by the Company and the managing underwriter of the Company’s equity securities in such offering,
shall agree not to, directly or indirectly, offer, sell, pledge, contract to sell (including any
short sale), grant any option to purchase or otherwise dispose of any securities of the Company
held by it (except for any securities sold pursuant to such registration statement) for a period of
90 days (or such longer period, not to exceed 180 days, that the managing
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underwriter specifies is required for successful completion of the Initial Public Offering)
following the effective date of such registration statement. Such agreement shall be in writing
and in form and substance reasonably satisfactory to the Holders, the Company and such underwriter
and pursuant to customary and prevailing terms and conditions. The foregoing provisions of this
Section 6(a) shall not apply to the sale of any shares to an underwriter pursuant to an
underwriting agreement, and shall only be applicable to the Holders if all officers and directors
and 5% or greater stockholders of the Company enter into similar or more restrictive agreements
with respect to any shares of common stock of the Company that are beneficially held by them and
that are not being sold by them in connection with the Company’s Initial Public Offering.
(b) Each Holder agrees that in the event the Company proposes to offer for sale to the public
any of its equity securities after the Initial Public Offering, and if (i) such Holder holds
beneficially or of record 5% or more of the outstanding equity securities of the Company, (ii)
requested by the Company and the managing underwriter of Common Stock or other securities of the
Company, and (iii) all other such 5% stockholders are requested by the Company and such underwriter
to sign, and actually do sign, a similar or more restrictive agreement restricting the sale or
other transfer of shares of the Company, then such Holder will not directly or indirectly, offer,
sell, pledge, contract to sell (including any short sale), grant any option to purchase or
otherwise dispose of any securities of the Company held by it (except for any securities sold
pursuant to such registration statement), for a period of 90 days (or such longer period, not to
exceed 180 days, that the managing underwriter specifies is required for successful completion of
the offering) following the effective date of such registration statement. Such agreement shall be
in writing and in form and substance reasonably satisfactory to the Holders, the Company and such
underwriter and pursuant to customary and prevailing terms and conditions.
7. Transferability of Registration Rights.
(a) Subject to Section 7(b) below, the rights to cause the Company to register
Registrable Securities pursuant to Section 2(a) or Section 2(b) hereof may be
assigned (but only with all related obligations) by a Holder to a transferee of such Registrable
Securities that is an affiliate, partner, member, limited partner, retired partner, retired member,
or stockholder of a Holder; provided, however, that (x) the Company is, within a reasonable time
after such transfer, furnished with written notice of the name and address of such transferee and
the Registrable Securities with respect to which such registration rights are being transferred;
and (y) such transferee agrees in writing to be bound by and subject to the terms and conditions of
this Agreement. For the purposes of determining the number of shares of Registrable Securities
held by a transferee, the holdings of a transferee that is an affiliate, limited partner, retired
partner, member, retired member, or stockholder of a Holder shall be aggregated together and with
those of the transferring Holder.
(b) Notwithstanding the foregoing, no Holder may, directly or indirectly, sell, assign,
transfer, pledge, bequeath, hypothecate, mortgage, grant any proxy with respect to, or in any way
encumber or otherwise dispose of any Registrable Securities, except in accordance with Article II
of the Class A Stockholders Agreement, dated June 30, 2004, among the Company and the Class A
Stockholders of the Company.
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8. Miscellaneous.
(a) Notices. Except as otherwise expressly provided herein, all notices, requests,
demands, claims, and other communications hereunder will be in writing. Any such notice, request,
demand, claim, or other communication hereunder shall be deemed duly given (a) upon confirmation
of facsimile, (b) one business day following the date sent when sent by overnight delivery and (c)
five business days following the date mailed when mailed by registered or certified mail return
receipt requested and postage prepaid at the addresses specified on the signature pages hereto (or
such other address for a Party as shall be specified by such Party by like notice).
(b) Entire Agreement. This Agreement, together with the instruments and other
documents hereby contemplated to be executed and delivered in connection herewith, contains the
entire agreement and understanding of the parties hereto, and supersedes any prior agreements or
understandings between or among them, with respect to the subject matter hereof.
(c) Successors and Assigns. The parties intend that this Agreement shall not benefit
or create any right or cause of action in or on behalf of any person other than Parties hereto and
their respective successors and permitted assigns.
(d) Amendments and Waivers. Except as otherwise expressly set forth in this
Agreement, any term of this Agreement may be amended and the observance of any term of this
Agreement may be waived (either generally or in a particular instance and either retroactively or
prospectively), with the written consent of the Company and the Holders of at least a majority of
the Registrable Securities. All Parties hereby acknowledge and agree that significant
modifications may be made to this Agreement without the consent of each of the Holders due to the
operation of this Section 8(d) which does not require the consent of each Holder for an
amendment hereto. No waivers of or exceptions to any term, condition or provision of this
Agreement, in any one or more instances, shall be deemed to be, or construed as, a further or
continuing waiver of any such term, condition or provision.
(e) Counterparts; Facsimile Execution. This Agreement may be executed in multiple
counterparts, each of which shall constitute an original but all of which shall constitute but one
and the same instrument. One or more counterparts of this Agreement may be delivered via
telecopier, with the intention that they shall have the same effect as an original counterpart
hereof. Facsimile execution and delivery of this Agreement is legal, valid and binding for all
purposes.
(f) Captions. The captions of the sections, subsections and paragraphs of this
Agreement have been added for convenience only and shall not be deemed to be a part of this
Agreement.
(g) Severability. Each provision of this Agreement shall be interpreted in such
manner as to validate and give effect thereto to the fullest lawful extent, but if any provision
of this Agreement is determined by a court of competent jurisdiction to be invalid or
unenforceable under applicable law, such provision shall be ineffective only to the extent so
determined and such invalidity or unenforceability shall not affect the remainder of such
-11-
provision or the remaining provisions of this Agreement; provided, however, that the Company
and a majority of Holders shall negotiate in good faith to attempt to implement an equitable
adjustment in the provisions of this Agreement with a view toward effecting the purposes of this
Agreement by replacing the provision that is invalid or unenforceable with a valid and enforceable
provision the economic effect of which comes as close as possible to that of the provision that
has been found to be invalid and unenforceable.
(h) Governing Law. This Agreement and the rights and obligations of the Parties
hereunder shall be governed by, and construed in accordance with, the laws of the State of
Delaware.
(i) Submission to Jurisdiction.
(i) The Parties agree that any suit, action or proceeding with respect to any dispute,
controversies or claims or any judgment entered by any court in respect thereof may be brought in
any state or federal court in the State of Delaware and any appellate court thereof and irrevocably
and unconditionally submits to the non-exclusive jurisdiction of such courts for the purpose of any
such suit, action, proceeding or judgment. Each of the Parties hereto agrees that final judgment
in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Each of the Parties further submits,
for the purpose of any such suit, action, proceeding or judgment brought or rendered against it, to
the appropriate courts of the jurisdiction of its domicile.
(ii) The Parties agree that any suit, action or proceeding with respect to the Agreement or
any judgment entered by any court in respect thereof may be brought in the competent courts of the
State of Delaware, and irrevocably submits to the non-exclusive jurisdiction of such courts for the
purpose of any such suit, action, proceeding or judgment.
(iii) Nothing herein shall in any way be deemed to limit the ability of any Party to serve any
such process of summons, complaint and other legal process in any other manner permitted by
applicable law or to obtain jurisdiction over, or bring any suit, action or proceeding against, any
other Party in such other jurisdiction, and in such manner, as may be permitted by applicable law.
(iv) The Parties also irrevocably consent, if for any reason any of the Party’s authorized
agent for service of process of summons, complaint and other legal process in any action, suit or
proceeding is not present in Delaware, to the service of such papers being made out of those courts
by mailing copies of the papers by registered United States air mail, postage prepaid, to the Party
at its address specified in Section 8(a). In such a case, the relevant Party shall also
send by facsimile, or have sent by facsimile, a copy of the papers to all Parties.
(v) Service in the manner provided in Section 8(j) in any action, suit or proceeding
will be deemed personal service, will be accepted by each of the Parties as such and will be valid
and binding upon such Party for all purposes of any such action, suit or proceeding.
(j) Appointment of Process Agent. The Parties hereby irrevocably appoint Corporation
Service Company (the “Process Agent”), with an office on the date hereof at 0000
-00-
Xxxxxxxxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxx 00000, Xxxxxx Xxxxxx of America as its agent to
receive on behalf of each of the Parties service of copies of the summons and complaint and any
other process which may be served in any suit, action or proceeding. Each Party agrees that the
failure of the Process Agent to give any notice of any such service of process to such Party shall
not impair or affect the validity of such service or, to the extent permitted by applicable law,
the enforcement of any judgment based thereon. Such appointment shall be irrevocable as long as
any amounts payable under this Agreement or the terms and conditions of this Agreement are
outstanding, except that if for any reason the Process Agent appointed hereby ceases to be able to
act as such, each Party shall, by an instrument reasonably satisfactory to the other Parties,
appoint another Person in the State of Delaware as such Process Agent subject to the approval
(which approval shall not be unreasonably withheld) of the other Parties. Each of the Holders
covenants and agrees that it shall take any and all reasonable action, including the execution and
filing of any and all documents, that may be necessary to continue the designation of a Process
Agent pursuant to this Section 8(j) in full force and effect and to cause the Process
Agent to act as such.
(k) Other Methods of Service. Nothing herein shall in any way be deemed to limit the
ability of any Party to serve any such process or summonses in any other manner permitted by
applicable law or to obtain jurisdiction over, or bring any suit, action or proceeding against,
the other Parties in such other jurisdictions, and in such manner, as may be permitted by
applicable law.
(l) Waiver of Inconvenient Forum, Etc.. Each of the Parties hereby irrevocably
waives any objection that it may now or hereafter have to the laying of the venue of any suit,
action or proceeding arising out of or relating to this Agreement brought in any state or federal
court in the State of Delaware, United States of America, and hereby further irrevocably waives
any claim that any such suit, action or proceeding brought in any such court has been brought in
an inconvenient forum. A final judgment (in respect of which time for all appeals has elapsed) in
any such suit, action or proceeding shall be conclusive and may be enforced in any court to the
jurisdiction of which the Parties are or may be subject, by suit upon judgment.
(m) Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (i)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.
[Signature page follows]
-13-
{COMPANY SIGNATURE PAGE}
IN WITNESS WHEREOF, the Parties hereto have caused this Class A Stockholders’ Registration
Rights Agreement to be duly executed as of the date first set forth above.
| COMPANY: | EMERGENT BIOSOLUTIONS INC. | |||
| By | /s/ Fuad El-Hibri | |||
| Name: Fuad El-Hibri Title: Chief Executive Officer |
||||
| Address: | ||||
| EMERGENT BIOSOLUTIONS INC. | ||||
| 000 Xxxxxxxxxxxx Xxxxx, Xxxxx 000 | ||||
| Xxxxxxxxxxxx, Xxxxxxxx 00000 | ||||
| Attention: General Counsel | ||||
| Telephone No.: (000) 000-0000 | ||||
| Facsimile No.: (000) 000-0000 | ||||
[Signature Page to Registration Rights Agreement]
{STOCKHOLDER SIGNATURE PAGE}
IN WITNESS WHEREOF, the Parties hereto have caused this Class A Stockholders’ Registration
Rights Agreement to be duly executed as of the date first set forth above.
| INTERVAC, LLC |
||||
| By: | /s/ Fuad El-Hibri | |||
| Name: | Fuad El-Hibri | |||
| Title: | General Manager | |||
Address for Notices:
Intervac, LLC
0000 Xxxx Xxxx Xxxxx
Xxxxx 000
Xxxxxxxxx, XX 00000
Attn: Fuad El-Hibri
0000 Xxxx Xxxx Xxxxx
Xxxxx 000
Xxxxxxxxx, XX 00000
Attn: Fuad El-Hibri
{STOCKHOLDER SIGNATURE PAGE}
IN WITNESS WHEREOF, the Parties hereto have caused this Class A Stockholders’ Registration
Rights Agreement to be duly executed as of the date first set forth above.
| BIOPHARM, LLC |
||||
| By: | /s/ Xxxxxx X. Xxxxxx | |||
| Name: | Xxxxxx X. Xxxxxx | |||
| Title: | General Manager | |||
Address for Notices:
BioPharm, LLC
3500 X. Xxxxxx Xxxxxx Xxxx, Xx. Blvd.
Building One, 3rd Floor
Lansing, MI 48906
Attn: Xxxxxx X. Xxxxxx
3500 X. Xxxxxx Xxxxxx Xxxx, Xx. Blvd.
Building One, 3rd Floor
Lansing, MI 48906
Attn: Xxxxxx X. Xxxxxx
{STOCKHOLDER SIGNATURE PAGE}
IN WITNESS WHEREOF, the Parties hereto have caused this Class A Stockholders’ Registration
Rights Agreement to be duly executed as of the date first set forth above.
| MICHIGAN BIOLOGICS PRODUCTS, INC. | ||||
| By: | /s/ Xxxxxx X. Xxxxx | |||
| Name: | Xxxxxx X. Xxxxx | |||
| Title: | President | |||
Address for Notices:
Michigan Biologics Products, Inc.
3500 X. Xxxxxx Xxxxxx Xxxx, Xx. Blvd.
Building One, 3rd Floor
Lansing, MI 48906
Attn: Xxxxxx X. Xxxxx
3500 X. Xxxxxx Xxxxxx Xxxx, Xx. Blvd.
Building One, 3rd Floor
Lansing, MI 48906
Attn: Xxxxxx X. Xxxxx
{STOCKHOLDER SIGNATURE PAGE}
IN WITNESS WHEREOF, the Parties hereto have caused this Class A Stockholders’ Registration
Rights Agreement to be duly executed as of the date first set forth above.
| BIOVAC, LLC |
||||
| By: | /s/ Fuad El-Hibri | |||
| Name: | Fuad El-Hibri | |||
| Title: | General Manager | |||
Address for Notices:
BioVac, LLC
0000 Xxxx Xxxx Xxxxx
Xxxxx 000
Xxxxxxxxx, XX 00000
Attn: Fuad El-Hibri
0000 Xxxx Xxxx Xxxxx
Xxxxx 000
Xxxxxxxxx, XX 00000
Attn: Fuad El-Hibri
{STOCKHOLDER SIGNATURE PAGE}
IN WITNESS WHEREOF, the Parties hereto have caused this Class A Stockholders’ Registration
Rights Agreement to be duly executed as of the date first set forth above.
| BIOLOGIKA, LLC |
||||
| By: | /s/ Xxxxx Xxxxxxxxx | |||
| Name: | Xxxxx Xxxxxxxxx | |||
| Title: | General Manager | |||
Address for Notices:
Biologika, LLC
3500 X. Xxxxxx Xxxxxx Xxxx, Xx. Blvd.
Building One, 3rd Floor
Lansing, MI 48906
Attn: Xxxxx Xxxxxxxxx
3500 X. Xxxxxx Xxxxxx Xxxx, Xx. Blvd.
Building One, 3rd Floor
Lansing, MI 48906
Attn: Xxxxx Xxxxxxxxx
{STOCKHOLDER SIGNATURE PAGE}
IN WITNESS WHEREOF, the Parties hereto have caused this Class A Stockholders’ Registration
Rights Agreement to be duly executed as of the date first set forth above.
| INTERVAC MANAGEMENT, LLC |
||||
| By: | /s/ Fuad El-Hibri | |||
| Name: | Fuad El-Hibri | |||
| Title: | General Manager | |||
Address for Notices:
Intervac Management, LLC
0000 Xxxx Xxxx Xxxxx
Xxxxx 000
Xxxxxxxxx, XX 00000
Attn: Fuad El-Hibri
0000 Xxxx Xxxx Xxxxx
Xxxxx 000
Xxxxxxxxx, XX 00000
Attn: Fuad El-Hibri
{STOCKHOLDER SIGNATURE PAGE}
IN WITNESS WHEREOF, the Parties hereto have caused this Class A Stockholders’ Registration
Rights Agreement to be duly executed as of the date first set forth above.
| ARPI, LLC |
||||
| By: | /s/ Xxxxxx Mugriditchian | |||
| Name: | Xxxxxx Mugriditchian | |||
| Title: | General Manager | |||
Address for Notices:
ARPI, LLC
00000 Xxxx Xxxx
Xxxxxxx, XX 00000
Attn: Xxxxxx Mugriditchian
00000 Xxxx Xxxx
Xxxxxxx, XX 00000
Attn: Xxxxxx Mugriditchian
EXHIBIT A
CLASS A STOCKHOLDERS
| Class A Shares | Number of Shares | |||||
1. |
Intervac, LLC | 2,890,000 | ||||
2. |
BioPharm, LLC | 1,412,896 | ||||
3. |
Michigan Biologics Products, Inc. | 672,500 | ||||
4. |
BioVac, LLC | 555,822 | ||||
5. |
Biologika, LLC | 477,941 | ||||
6. |
Intervac Management, LLC | 250,000 | ||||
7. |
ARPI, LLC | 228,791 | ||||
