Exhibit 10.7
AMENDMENT NO. 4 TO AMENDED AND
RESTATED STOCKHOLDERS AGREEMENT
AMENDMENT NO. 4 dated and effective as of September 1, 2000, to
Amended and Restated Stockholders Agreement dated as of April 30, 1998 by and
among PRAECIS PHARMACEUTICALS INCORPORATED, a Delaware corporation (the
"Company"), and the Stockholders of the Company referred to therein, as amended
by Amendment No. 1 dated as of May 14, 1998, Amendment No. 2 dated as of July
21, 1998 and Amendment No. 3 dated as of January 31, 2000 (the "Stockholders
Agreement"). Capitalized terms used herein and not otherwise defined shall have
the meanings ascribed to such terms in the Stockholders Agreement.
Article 8 of the Stockholders Agreement provides that upon the
consummation of an Initial Public Offering, the Stockholders Agreement will
terminate, except for certain specified provisions, including Article 6 which
provides for certain demand and piggyback registration rights and certain
obligations in connection therewith.
The Company consummated an Initial Public Offering on May 2, 2000, and
the Company and the Stockholders who or which have executed this Amendment No. 4
desire to amend certain surviving provisions of the Stockholders Agreement as
provided herein.
This Amendment No. 4 has been duly executed by the Company and by
Stockholders holding the requisite number of shares of Common Stock required by
Section 9.2 of the Stockholders Agreement.
In consideration of the foregoing, the parties hereto, intending to be
legally bound, hereby agree as follows:
1. AMENDMENT OF SECTION 6.1 (K). Section 6.1(k) of the Stockholders
Agreement is hereby amended in its entirety to read as follows:
"(k) Notwithstanding the foregoing, in the event that the Company
intends to commence a public offering of securities and the
Board, with the concurrence of a majority of directors who are
not employees of the Company, determines that a registration
request under this Section 6.1 should be deferred, the Company
shall so notify the holders of Registrable Securities in writing
and such holders shall be deemed to have waived their rights to
demand registration under this Section 6.1 for a period of 120
days following such notice."
2. DELETION OF SECTION 6.3(C). Section 6.3(c) is hereby deleted in its
entirety, and, solely to preserve the correctness of prior numbering and
cross-references to other Sections of the Stockholders Agreement, the following
is inserted in lieu thereof:
"(c) [Intentionally omitted]"
3. AMENDMENT OF DEFINITION OF "REGISTRABLE SECURITIES". For all
purposes of the Stockholders Agreement, clause (ii) of the second sentence of
the definition of "Registrable Securities" shall be amended to read as follows:
"(ii) they shall have been transferred pursuant to Rule 144 or are
eligible to be transferred pursuant to Rule 144(k) or any
successor provision,"
4. AMENDMENT OF SECTION 8.1(C). Section 8.1(c) of the Stockholders
Agreement is hereby amended in its entirety to read as follows:
"(c) The provisions set forth in Article 6, this Section 8.1(c) and
Article 9 shall survive the termination of Agreement, provided,
however, that at the close of business on September 1, 2000,
Section 6.2, and all rights and obligations thereunder, shall
automatically terminate and be of no further force or effect."
5. AMENDMENT OF SECTION 9.1. Section 9.1 of the Stockholders Agreement
is hereby amended in its entirety to read as follows:
"Section 9.1 SUCCESSORS AND ASSIGNS. The terms and provisions of this
Agreement, to the extent still in effect, shall be binding upon, and shall inure
solely to the benefit of and be enforceable solely by, the parties hereto
(including any nominee of a Stockholder which holds Common Stock in its name
which is beneficially owned by such Stockholder), except that the rights of a
Stockholder under Article 6 shall be assignable to an Affiliate of such
Stockholder to whom or which a Stockholder has transferred Registrable
Securities (if and for so long as such Affiliate continues to hold Registrable
Securities), provided the transferring Stockholder has notified the Company in
writing of such transfer and such Affiliate has agreed in writing with the
Company to be bound by this Agreement to the extent still in effect. Any breach
of any of the terms or provisions of this Agreement by a nominee of any
Stockholder shall be deemed a breach of this Agreement by such Stockholder."
6. AMENDMENT OF SECTION 9.2. The first paragraph of Section 9.2 of the
Stockholders Agreement is hereby amended in its entirety to read as follows:
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"(a) This Agreement may be amended only by a written instrument
duly executed by (i) the Company and (ii) Stockholders who own at least 66_% of
the Registrable Securities, provided that notwithstanding the foregoing, without
the prior consent or approval of the holders of a majority of the Registrable
Securities consisting of shares of Common Stock into which the shares of Series
E Preferred Stock were converted upon consummation of the Company's Initial
Public Offering (the holders of such Registrable Securities being referred to as
the "Series E Pre-IPO Preferred Stockholders"), this Agreement may not be
amended if such proposed amendment affects the rights under this Agreement (to
the extent still in effect) of the Series E Pre-IPO Preferred Stockholders who
hold Registrable Securities but does not so affect the rights of Stockholders
holding Registrable Securities consisting of shares of Common Stock into which
shares of Series C Preferred Stock or Series D Preferred Stock were converted
upon consummation of the Company's Initial Public Offering."
7. COUNTERPARTS. This Amendment No. 4 may be signed in one or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.
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IN WITNESS WHEREOF, the parties have executed this Amendment No. 4 to
the Amended and Restated Stockholders Agreement as of the date first written
above.
PRAECIS PHARMACEUTICALS
INCORPORATED
By /s/ Xxxxxx X. Xxxxxx
---------------------------------
Name:
Title:
/s/ Xxxxxx X. Xxxxxx
---------------------------------
Xxxxxxx X. Xxxxxx
XXXXX X. XXXXXX AND XXXXX XXXX
By /s/ Xxxxx X. Xxxxxx
---------------------------------
Xxxxx X. Xxxxxx
By /s/ Xxxxx Xxxx
---------------------------------
Xxxxx Xxxx
/s/ A. Xxxxx Xxxxxxxxx
---------------------------------
A. Xxxxx Xxxxxxxxx
MASSACHUSETTS INSTITUTE OF TECHNOLOGY
By /s/ Xxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxx X. Xxxxxxx
Title: Treasurer
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CANAAN VENTURES II LIMITED
PARTNERSHIP
By: Canaan Venture Partners II L.P.
By /s/ Xxxxx X. Xxxx
---------------------------------
Name: Xxxxx X. Xxxx
Title: Managing General Partner
CANAAN VENTURES II OFFSHORE
C.V.
By: Canaan Venture Partners II L.P.
By /s/ Xxxxx X. Xxxx
---------------------------------
Name: Xxxxx X. Xxxx
Title: Managing General Partner
CHASE VENTURE CAPITAL
ASSOCIATES, LLC
By: CHASE CAPITAL PARTNERS
Its General Partner
By /s/ Xxxxxx X. Xxxxxx
---------------------------------
Name: Xxxxxx X. Xxxxxx, M.D.
Title: General Partner
GREYLOCK LIMITED PARTNERSHIP
By /s/ Xxxxx X. XxXxxxx
---------------------------------
Name:
Title:
5
HIGHLAND CAPITAL PARTNERS II
LIMITED PARTNERSHIP
By: Highland Management Partners II Limited
Partnership
Its General Partner
By /s/ Xxxxxxxx X. Xxxxxxxxx
---------------------------------
Name: Xxxxxxxx X. Xxxxxxxxx
Title:
1985-1 WHITNEY TRUST, LLC
By /s/ Xxxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Manager
1985-2 WHITNEY TRUST, LLC
By /s/ Xxxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Manager
WHITNEY ARTICLE 17 LLC
By /s/ Xxxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Manager
APHRODITE ASSOCIATES
US TRUST COMPANY OF NEW YORK,
AGENT
By /s/ Xxxxxx X. Xxxxxxx
---------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Managing Director
6
WHITNEY 1990 EQUITY FUND, L.P.
By /s/ Xxxxxxx Xxxxxxxx, Xx.
---------------------------------
Name: Xxxxxxx Xxxxxxxx, Xx.
Title: General Partner
/s/ Xxxxxxx X. Xxxxxxx
---------------------------------
Xxxxxx X. Xxxxxxx
By Xxxxxxx X. Xxxxxxx
Under Power of Attorney
/s/ Xxxxx X. Xxxxxxx
---------------------------------
Xxxxx X. Xxxxxxx
XXXXXX HILL VENTURES
By /s/ G. Xxxxxxx Xxxxx, Xx.
---------------------------------
Name: G. Xxxxxxx Xxxxx, Xx.
Title: Managing Director of the
General Partner
/s/ G. Xxxxxxx Xxxxx, Xx.
---------------------------------
G. Xxxxxxx Xxxxx, Xx.
XXXXXXXX HOLDINGS, L.P.
By /s/ G. Xxxxxxx Xxxxx, Xx.
---------------------------------
Name: G. Xxxxxxx Xxxxx, Xx.
Title: General Partner
7
XXXXX FARGO BANK, TRUSTEE
SHV M/P/T FBO G. Xxxxxxx Xxxxx, Xx.
By /s/ Xxxx Xxxxxxx
---------------------------------
Name: Xxxx Xxxxxxx
Title: Vice President
/s/ Xxxxx X. Xxxxxxxx
---------------------------------
Xxxxx X. Xxxxxxxx
XXXXX X. XXXXXXXX, TRUSTEE OF
THE XXXXXXXX LIVING TRUST,
1/22/98
By /s/ Xxxxx X. Xxxxxxxx
---------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: Trustee
XXXXX FARGO BANK, TRUSTEE
SHV M/P/T FBO Xxxxx Xxxxxxxx
By
---------------------------------
Name:
Title:
XXXX X. XXXXXX AND XXXXXX X.
XXXXXX, TRUSTEES OF THE
WYTHES LIVING TRUST 7/21/87
By /s/ Xxxx X. Xxxxxx
---------------------------------
Name: Xxxx X. Xxxxxx
Title: Trustee
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THE WYTHES 1999
GRANDCHILDRENS' TRUST,
XXXXXXXX X. XXXXXX, XXXX X.
XXXXXX, XX. AND XXXXX X. XXXXX,
TRUSTEES
By /s/ Xxxxxxx X. Xxxxxxx
---------------------------------
Name:
Title:
By Xxxxxxx X. Xxxxxxx
Under Power of Attorney
TOW PARTNERS
By /s/ Xxxx X. Xxxxxx
---------------------------------
Name: Xxxx X. Xxxxxx
Title: General Partner
/s/ Xxxxxxx X. Xxxxxxx, Xx.
---------------------------------
Xxxxxxx X. Xxxxxxx, Xx.
XXXXXXX X. XXXXXXX, XX.
TRUSTEE OF THE YOUNGER LIVING
TRUST 1/20/95
By /s/ Xxxxxxx X. Xxxxxxx, Xx.
---------------------------------
Name: Xxxxxxx X. Xxxxxxx, Xx.
Title: Trustee
/s/ Xxxxx Xxxx
---------------------------------
Xxxxx Xxxx
9
XXXXX XXXX, TRUSTEE OF THE
XXXX/OTUS REVOCABLE TRUST,
4/23/98
By /s/ Xxxxx Xxxx
---------------------------------
Name: Xxxxx Xxxx
Title: Trustee
XXXXXX XXXX ENTREPRENEURS FUND
(AI), LP
By /s/ G. Xxxxxxx Xxxxx, Xx.
---------------------------------
Name: G. Xxxxxxx Xxxxx, Xx.
Title: Managing Director of the
General Partner
XXXXXX HILL ENTREPRENEURS FUND
(QP), LP
By /s/ G. Xxxxxxx Xxxxx, Xx.
---------------------------------
Name: G. Xxxxxxx Xxxxx, Xx.
Title: Managing Director of the
General Partner
VULCAN VENTURES, INC.
By /s/ Xxxxxxx X. Xxxxx
---------------------------------
Name: Xxxxxxx X. Xxxxx
Title: President
*
---------------------------------
Xxxxxx X. Xxxxxxx
10
CITY OF STAMFORD FIREMEN'S
PENSIONS FUND
By *
---------------------------------
Name:
Title:
XXXX XXXXXX FOUNDATION
By *
---------------------------------
Name:
Title:
*
---------------------------------
Xxxxx X. Xxxxxxx
XXXXXX X. XXXXXXXX FAMILY TRUST
By *
---------------------------------
Name:
Title:
HBL CHARITABLE UNITRUST
By *
---------------------------------
Name:
Title:
*
---------------------------------
Xxxxxxx X. Xxxxx
*
---------------------------------
Xxxxxx Xxxxxxx
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*
---------------------------------
Xxxxx Xxxx
*
---------------------------------
Xxxxxxx Xxxxxxxx
XXXXXXX INVESTMENT PARTNERS
LP
By *
---------------------------------
Name:
Title:
XXXX XXX XXXXXXXX TRUST
By *
---------------------------------
Name:
Title:
XXXXXX TRUST CO. OF THE
BAHAMAS LTD.
By *
---------------------------------
Name:
Title:
NORWALK EMPLOYEE PENSION FUND
By *
---------------------------------
Name:
Title:
ROANOKE COLLEGE
By *
---------------------------------
Name:
Title:
STATE OF OREGON PERS/ZCG
12
By *
---------------------------------
Name:
Title:
TAB PRODUCTS COMPANY
PENSION FUND
By *
---------------------------------
Name:
Title:
THE XXXXXXXX SCHOOL
ENDOWMENT FUND
By *
---------------------------------
Name:
Title:
THE XXXXXXXX XXXXXX FOUNDATION
By *
---------------------------------
Name:
Title:
XXXXX FAMILY LLC
By *
---------------------------------
Name:
Title:
TRUSTEES OF AMHERST COLLEGE
By *
---------------------------------
Name:
Title:
13
CITY OF MILFORD PENSION &
RETIREMENT FUND
By *
---------------------------------
Name:
Title:
PUBLIC EMPLOYEE RETIREMENT
SYSTEM OF IDAHO
* = XXXXXXX CAPITAL GROUP LLC
AGENT & ATTORNEY-IN-FACT
By /s/ Xxxxxx X. Xxxxxxx By *
---------------------- --------------------------------
Name: Xxxxxx X. Xxxxxxx Name:
Title:
VAN LOBEN SELS FOUNDATION
By /s/ Xxxx Xxxxx
---------------------------------
Name: Xxxx Xxxxx
Title: President
XXXXXX INVESTMENT GROUP LTD. LLC
By /s/ Xxxxxxx X. Xxxxx
---------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Member
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XXXXXX OTOLOGIC PROFIT
SHARING TRUST
By /s/ Xxxxxxx X. Xxxxx
---------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Asst. Sec.
---------------------------------
Xxxxxx X. Xxxx
COMDISCO, INC.
By
---------------------------------
Name:
Title:
-----------------------------------
Xxxxx X. XxXxxxxxx
HLM PARTNERS, L.P.
By
---------------------------------
Name:
Title:
PHARMA/wHEALTH FUND
By /s/ Xxxxxx X. Xxxxx
---------------------------------
Name: Xxxxxx X. Xxxxx
Title: Portfolio Manager
-----------------------------------
Xxxx X. Xxxxxx
-----------------------------------
Xxxxx Xxxxxxxx
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XXXXXX X. AND XXXXXX XXXXX
By
---------------------------------
Xxxxxx X. Xxxxx
By
---------------------------------
Xxxxxx Xxxxx
LANDMARK SECONDARY PARTNERS,
L.P.
By
---------------------------------
Name:
Title:
GENSTAR INVESTMENT LLC
By
---------------------------------
Name:
Title:
QUANTUM INDUSTRIAL PARTNERS LDC
By /s/ Xxxxxxx X. Xxxxx
---------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Attorney-in-Fact
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