VOTING AGREEMENT
Exhibit 2
This Voting Agreement (“Agreement”) is entered into as of November 3, 2008,
by and between Cardiovascular Systems, Inc., a Minnesota corporation (the “Company”), and
[ ] (“Stockholder”).
Recitals
A. Stockholder is a holder of record and the “beneficial owner” (within the meaning of Rule
13d-3 under the Securities Exchange Act of 1934) of certain shares of capital stock of Replidyne,
Inc., a Delaware corporation (the “Replidyne”).
B. Replidyne, Responder Merger Sub, Inc., a Minnesota corporation (“Merger Sub”), and
the Company are entering into an Agreement and Plan of Merger and Reorganization of even date
herewith (the “Merger Agreement”) which provides (subject to the conditions set forth
therein) for the merger of Merger Sub into the Company (the “Merger”).
C. In the Merger, the outstanding shares of capital stock of the Company are to be converted
into the right to receive shares of Common Stock of Replidyne.
D. In order to induce the Company to enter into the Merger Agreement, Stockholder is entering
into this Agreement.
Agreement
The parties to this Agreement, intending to be legally bound, agree as follows:
Section 1. Certain Definitions
1.1 Specified Terms. For purposes of this Agreement:
(a) Stockholder shall be deemed to “Own” or to have acquired
“Ownership” of a security if Stockholder: (i) is the record owner of such security;
or (ii) is the “beneficial owner” (within the meaning of Rule 13d-3 under the Securities
Exchange Act of 1934) of such security.
(b) “Subject Securities” shall mean all outstanding shares of capital stock of
Replidyne (including all shares of Replidyne Common Stock) Owned by Stockholder as of the
date of this Agreement.
(c) A Person shall be deemed to have effected a “Transfer” of a security if
such Person directly or indirectly: (i) sells, pledges, encumbers, grants an option with
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respect to, transfers or disposes of such security or any interest in such security to any
Person other than the Company; (ii) enters into an agreement or commitment contemplating the
possible sale of, pledge of, encumbrance of, grant of an option with respect to, transfer of
or disposition of such security or any interest therein to any Person other than the
Company; or (iii) reduces such Person’s beneficial ownership of, interest in or risk
relating to such security.
(d) “Voting Covenant Expiration Date” shall mean the earlier of (i) the date
upon which the Merger Agreement is validly terminated, (ii) the date upon which the Merger
is consummated and (iii) the date upon which this Agreement is terminated.
1.2 Other Terms. Capitalized terms used herein and not defined shall have the meanings set
forth in the Merger Agreement.
Section 2. Transfer of Subject Securities and Voting Rights
2.1 Restriction on Transfer of Subject Securities. Subject to Section 2.3, during the period
from the date of this Agreement through the Voting Covenant Expiration Date, Stockholder shall not,
directly or indirectly, cause or permit any Transfer of any of the Subject Securities to be
effected.
2.2 Restriction on Transfer of Voting Rights. During the period from the date of this
Agreement through the Voting Covenant Expiration Date, Stockholder shall ensure that: (a) none of
the Subject Securities is deposited into a voting trust; and (b) no proxy is granted, and no voting
agreement or similar agreement is entered into, with respect to any of the Subject Securities,
other than a proxy granted to the Company.
2.3 Permitted Transfers. Section 2.1 shall not prohibit a transfer of Replidyne Common Stock
by Stockholder (i) to any member of his immediate family, or to a trust for the benefit of
Stockholder or any member of his immediate family, (ii) upon the death of Stockholder, or (iii) if
Stockholder is a partnership or limited liability company, to one or more partners or members of
Stockholder or to an affiliated corporation under common control with Stockholder; provided,
however, that a transfer referred to in this sentence shall be permitted only if, as a precondition
to such transfer, the transferee agrees in a writing, reasonably satisfactory in form and substance
to the Company, to be bound by the terms of this Agreement.
Section 3. Voting of Shares
3.1 Voting Covenant. Stockholder hereby agrees that, prior to the Voting Covenant Expiration
Date, at any meeting of the stockholders of Replidyne, however called, and in any written action by
consent of stockholders of Replidyne, unless otherwise directed in writing by the Company,
Stockholder shall cause not less than 68.0% of the Subject Securities to be voted:
(a) in favor of the Merger, the execution and delivery by Replidyne of the Merger
Agreement and the adoption and approval of the Merger Agreement and the terms thereof, in
favor of each of the other actions contemplated by the Merger Agreement and in favor of any
action in furtherance of any of the foregoing;
2.
(b) against any action or agreement that would result in a material breach of any
covenant or obligation of Replidyne in the Merger Agreement that would have the effect of
preventing or materially delaying the Merger; and
(c) against the following actions (other than the Merger and the transactions
contemplated by the Merger Agreement (including, for the avoidance of doubt, the
consummation of a Pipeline Transaction and any actions relating to the winding up of
Replidyne’s business in accordance with the Merger Agreement)): (A) any extraordinary
corporate transaction, such as a merger, consolidation or other business combination
involving Replidyne or any subsidiary of Replidyne; (B) any sale, lease or transfer of a
material amount of assets of Replidyne or any subsidiary of Replidyne; (C) any
reorganization, recapitalization, dissolution or liquidation of Replidyne or any subsidiary
of Replidyne; (D) any change in a majority of the board of directors of Replidyne; (E) any
amendment to Replidyne’s certificate of incorporation or bylaws which would prevent or
materially delay the Merger; (F) any Acquisition Transaction; and (G) any other action which
is intended, or could reasonably be expected, to impede, interfere with, delay, postpone,
discourage or adversely affect the Merger or any of the other transactions contemplated by
the Merger Agreement or this Agreement.
Prior to the Voting Covenant Expiration Date, Stockholder shall not enter into any agreement or
understanding with any Person to vote or give instructions in any manner inconsistent with clause
“(a)”, “(b)”, or “(c)” of the preceding sentence.
3.2 Proxy. Contemporaneously with the execution of this Agreement Stockholder shall deliver
to the Company a proxy in the form attached to this Agreement as Exhibit A, which shall be
irrevocable to the fullest extent permitted by law (at all times prior to the Voting Covenant
Expiration Date) with respect to the shares referred to therein (the “Proxy”).
Section 4. Waiver of Appraisal Rights
Stockholder hereby irrevocably and unconditionally waives, and agrees to cause to be waived
and to prevent the exercise of, any rights of appraisal, any dissenters’ rights and any similar
rights relating to the Merger or any related transaction that Stockholder may have by virtue of any
outstanding shares of Replidyne Common Stock Owned by Stockholder.
Section 5. No Solicitation
Stockholder agrees that, during the period from the date of this Agreement through the Voting
Covenant Expiration Date, Stockholder shall not, directly or indirectly, and Stockholder shall
ensure that his or its Representatives (as defined in the Merger Agreement) do not, directly or
indirectly: (i) solicit, initiate, knowingly encourage, induce or knowingly facilitate the
communication, making, submission or announcement of any Acquisition Proposal or Acquisition
Inquiry or take any action that could reasonably be expected to lead to an Acquisition Proposal or
Acquisition Inquiry; (ii) furnish any information regarding Replidyne or any subsidiary of
Replidyne to any Person in connection with or in response to an Acquisition
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Proposal or Acquisition Inquiry; (iii) engage in discussions or negotiations with any Person with
respect to any Acquisition Proposal or Acquisition Inquiry; (iv) approve, endorse or recommend any
Acquisition Proposal; or (v) execute or enter into any letter of intent or similar document or any
Contract contemplating or otherwise relating to any Acquisition Transaction. Stockholder shall
immediately cease and discontinue, and Stockholder shall ensure that his or its Representatives
immediately cease and discontinue, any existing discussions with any Person that relate to any
Acquisition Proposal.
Section 6. Representations and Warranties of Stockholder
Stockholder hereby represents and warrants to the Company as follows:
6.1 Authorization, etc. Stockholder has the absolute and unrestricted right, power, authority
and capacity to execute and deliver this Agreement and the Proxy and to perform his or its
obligations hereunder and thereunder. This Agreement and the Proxy have been duly executed and
delivered by Stockholder and constitute legal, valid and binding obligations of Stockholder,
enforceable against Stockholder in accordance with their terms, subject to (i) laws of general
application relating to bankruptcy, insolvency and the relief of debtors, and (ii) rules of law
governing specific performance, injunctive relief and other equitable remedies. If Stockholder is
a general or limited partnership, then Stockholder is a partnership duly organized, validly
existing and in good standing under the laws of the jurisdiction in which it was organized. If
Stockholder is a limited liability company, then Stockholder is a limited liability company duly
organized, validly existing and in good standing under the laws of the jurisdiction in which it was
organized.
6.2 No Conflicts or Consents.
(a) The execution and delivery of this Agreement and the Proxy by Stockholder do not,
and the performance of this Agreement and the Proxy by Stockholder will not: (i) conflict
with or violate any law, rule, regulation, order, decree or judgment applicable to
Stockholder or by which he or it or any of his or its properties is or may be bound or
affected; or (ii) result in or constitute (with or without notice or lapse of time) any
breach of or default under, or give to any other Person (with or without notice or lapse of
time) any right of termination, amendment, acceleration or cancellation of, or result (with
or without notice or lapse of time) in the creation of any encumbrance or restriction on any
of the Subject Securities pursuant to, any contract to which Stockholder is a party or by
which Stockholder or any of his or its affiliates or properties is or may be bound or
affected.
(b) The execution and delivery of this Agreement and the Proxy by Stockholder do not,
and the performance of this Agreement and the Proxy by Stockholder will not, require any
consent or approval of any Person which shall not have already been obtained.
6.3 Title to Securities. As of the date of this Agreement: (a) Stockholder holds of record
(free and clear of any encumbrances or restrictions except those created under the Securities Act
of 1933, as amended (the “Act”), and under any agreement with Replidyne which
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has been disclosed to the Company) the number of outstanding shares of Replidyne Common Stock set
forth under the heading “Shares Held of Record” on the signature page hereof; (b) Stockholder holds
(free and clear of any encumbrances or restrictions except those created under the Act, and under
any agreement with Replidyne which has been disclosed to the Company) the options, warrants and
other rights to acquire shares of Replidyne Common Stock set forth under the heading “Options and
Other Rights” on the signature page hereof; (c) Stockholder Owns the additional securities of
Replidyne set forth under the heading “Additional Securities Beneficially Owned” on the signature
page hereof; and (d) Stockholder does not directly or indirectly Own any shares of capital stock or
other securities of Replidyne, or any option, warrant or other right to acquire (by purchase,
conversion or otherwise) any shares of capital stock or other securities of Replidyne, other than
the shares and options, warrants and other rights set forth on the signature page hereof.
6.4 Accuracy of Representations. The representations and warranties contained in this
Agreement are accurate in all material respects as of the date of this Agreement and will be
accurate in all material respects as of the date of the consummation of the Merger as if made on
that date, subject to the acquisition of additional securities of Replidyne by Stockholder
following the date hereof.
Section 7. Additional Covenants of Stockholder
7.1 Further Assurances. From time to time and without additional consideration, Stockholder
shall execute and deliver, or cause to be executed and delivered, such additional transfers,
assignments, endorsements, proxies, consents and other instruments, and shall (at Stockholder’s
sole expense) take such further actions, as the Company may reasonably request in writing for the
purpose of carrying out and furthering the intent of this Agreement.
7.2 Legends. If requested by the Company, immediately after the execution of this Agreement,
Stockholder shall cause each certificate evidencing any outstanding shares of Replidyne Common
Stock Owned by Stockholder to be surrendered so that the transfer agent for such securities may
affix thereto a legend in the following form:
THE SECURITY OR SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, EXCHANGED OR
OTHERWISE TRANSFERRED OR DISPOSED OF EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF A
VOTING AGREEMENT DATED AS OF OCTOBER ___, 2008, AS IT MAY BE AMENDED, A COPY OF WHICH IS ON
FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF THE ISSUER.
Section 8. Miscellaneous
8.1 Survival of Representations, Warranties and Agreements. All representations, warranties,
covenants and agreements made by Stockholder in this Agreement shall survive (i) the consummation
of the Merger, (ii) any termination of the Merger Agreement, and (iii) the Voting Covenant
Expiration Date.
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8.2 Expenses. Except as otherwise may be agreed to, all costs and expenses incurred in
connection with the transactions contemplated by this Agreement shall be paid by the party
incurring such costs and expenses.
8.3 Notices. Any notice or other communication required or permitted to be delivered to
either party under this Agreement shall be in writing and shall be deemed properly delivered, given
and received when delivered (by hand, by registered mail, by courier or express delivery service or
by facsimile) to the address or facsimile telephone number set forth beneath the name of such party
below (or to such other address or facsimile telephone number as such party shall have specified in
a written notice given to the other party):
if to Stockholder:
at the address set forth on the signature page hereof; and
if to the Company:
Cardiovascular Systems, Inc.
000 Xxxxxx Xxxxx
Xx. Xxxx, XX 00000-0000
Attention: Chief Executive Officer
Facsimile: 000-000-0000
000 Xxxxxx Xxxxx
Xx. Xxxx, XX 00000-0000
Attention: Chief Executive Officer
Facsimile: 000-000-0000
8.4 Severability. Any term or provision of this Agreement that is invalid or unenforceable in
any situation in any jurisdiction shall not affect the validity or enforceability of the remaining
terms and provisions hereof or the validity or enforceability of the offending term or provision in
any other situation or in any other jurisdiction. If the final judgment of a court of competent
jurisdiction declares that any term or provision hereof is invalid or unenforceable, the parties
hereto agree that the court making such determination shall have the power to limit the term or
provision, to delete specific words or phrases, or to replace any invalid or unenforceable term or
provision with a term or provision that is valid and enforceable and that comes closest to
expressing the intention of the invalid or unenforceable term or provision, and this Agreement
shall be enforceable as so modified. In the event such court does not exercise the power granted
to it in the prior sentence, the parties hereto agree to replace such invalid or unenforceable term
or provision with a valid and enforceable term or provision that will achieve, to the extent
possible, the economic, business and other purposes of such invalid or unenforceable term.
8.5 Entire Agreement. This Agreement, the Proxy and any other documents delivered by the
parties in connection herewith constitute the entire agreement between the parties with respect to
the subject matter hereof and thereof and supersede all prior agreements and understandings between
the parties with respect thereto. No addition to or modification of any provision of this
Agreement shall be binding upon either party unless made in writing and signed by both parties.
8.6 Assignment; Binding Effect. Except as provided herein, neither this Agreement nor any of
the interests or obligations hereunder may be assigned or delegated by Stockholder, and any
attempted or purported assignment or delegation of any of such interests or obligations
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shall be void. Subject to the preceding sentence, this Agreement shall be binding upon
Stockholder and his heirs, estate, executors and personal representatives and his or its
successors and assigns, and shall inure to the benefit of the Company and its successors and
assigns. Without limiting any of the restrictions set forth in Section 2 or Section 7.1 or
elsewhere in this Agreement, this Agreement shall be binding upon any Person to whom any Subject
Securities are transferred. Nothing in this Agreement is intended to confer on any Person (other
than the Company and its successors and assigns) any rights or remedies of any nature.
8.7 Specific Performance. The parties agree that irreparable damage would occur in the event
that any of the provisions of this Agreement or the Proxy were not performed in accordance with its
specific terms or were otherwise breached. Stockholder agrees that, in the event of any breach or
threatened breach by Stockholder of any covenant or obligation contained in this Agreement or in
the Proxy, the Company shall be entitled (in addition to any other remedy that may be available to
it, including monetary damages) to seek and obtain (a) a decree or order of specific performance to
enforce the observance and performance of such covenant or obligation, and (b) an injunction
restraining such breach or threatened breach. Stockholder further agrees that neither the Company
nor any other Person shall be required to obtain, furnish or post any bond or similar instrument in
connection with or as a condition to obtaining any remedy referred to in this Section 8.7, and
Stockholder irrevocably waives any right he or it may have to require the obtaining, furnishing or
posting of any such bond or similar instrument.
8.8 Non-Exclusivity. The rights and remedies of the Company under this Agreement are not
exclusive of or limited by any other rights or remedies which it may have, whether at law, in
equity, by contract or otherwise, all of which shall be cumulative (and not alternative). Without
limiting the generality of the foregoing, the rights and remedies of the Company under this
Agreement, and the obligations and liabilities of Stockholder under this Agreement, are in addition
to their respective rights, remedies, obligations and liabilities under common law requirements and
under all applicable statutes, rules and regulations.
8.9 Governing Law; Venue.
(a) This Agreement and the Proxy shall be construed in accordance with, and governed in
all respects by, the laws of the State of Delaware (without giving effect to principles of
conflicts of laws).
(b) Any legal action or other legal proceeding relating to this Agreement or the Proxy
or the enforcement of any provision of this Agreement or the Proxy may be brought or
otherwise commenced in any state or federal court located in the State of Delaware.
Stockholder:
(i) expressly and irrevocably consents and submits to the jurisdiction of each
state and federal court located in the State of Delaware in connection with any such
legal proceeding;
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(ii) agrees that service of any process, summons, notice or document by U.S.
mail addressed to him or it at the address set forth on the signature page hereof
shall constitute effective service of such process, summons, notice or document for
purposes of any such legal proceeding;
(iii) agrees that each state and federal court located in the State of Delaware
shall be deemed to be a convenient forum; and
(iv) agrees not to assert (by way of motion, as a defense or otherwise), in any
such legal proceeding commenced in any state or federal court located in the State
of Delaware, any claim that Stockholder is not subject personally to the
jurisdiction of such court, that such legal proceeding has been brought in an
inconvenient forum, that the venue of such proceeding is improper or that this
Agreement or the subject matter of this Agreement may not be enforced in or by such
court.
Nothing contained in this Section 8.9 shall be deemed to limit or otherwise affect the right
of the Company to commence any legal proceeding or otherwise proceed against Stockholder in
any other forum or jurisdiction.
(c) STOCKHOLDER IRREVOCABLY WAIVES THE RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY
LEGAL PROCEEDING RELATING TO THIS AGREEMENT OR THE PROXY OR THE ENFORCEMENT OF ANY PROVISION
OF THIS AGREEMENT OR THE PROXY.
8.10 Counterparts. This Agreement may be executed in separate counterparts, each of which
when so executed and delivered shall be an original, but all such counterparts shall together
constitute one and the same instrument.
8.11 Captions. The captions contained in this Agreement are for convenience of reference
only, shall not be deemed to be a part of this Agreement and shall not be referred to in connection
with the construction or interpretation of this Agreement.
8.12 Attorneys’ Fees. If any legal action or other legal proceeding relating to this
Agreement or the enforcement of any provision of this Agreement is brought against Stockholder, the
prevailing party shall be entitled to recover reasonable attorneys’ fees, costs and disbursements
(in addition to any other relief to which the prevailing party may be entitled).
8.13 Waiver. No failure on the part of the Company to exercise any power, right, privilege or
remedy under this Agreement, and no delay on the part of the Company in exercising any power,
right, privilege or remedy under this Agreement, shall operate as a waiver of such power, right,
privilege or remedy; and no single or partial exercise of any such power, right, privilege or
remedy shall preclude any other or further exercise thereof or of any other power, right, privilege
or remedy. The Company shall not be deemed to have waived any claim available to the Company
arising out of this Agreement, or any power, right, privilege or remedy of the Company under this
Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set
forth in a written instrument duly executed and delivered on behalf of the
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Company; and any such waiver shall not be applicable or have any effect except in the specific
instance in which it is given.
8.14 Term. This Agreement and all obligations hereunder shall terminate upon the earlier
of (i) the day after the Merger is consummated, (ii) April 30, 2009, (iii) the date of any
modification, waiver or amendment to the Merger Agreement in a manner that reduces the
amount and form of consideration payable thereunder to Stockholder, and (iv) the termination of
the Merger Agreement.
8.15 No Limitation on Actions of Stockholder as Director. In the event Stockholder or any of
its Representatives is a member of the board of directors of Replidyne, notwithstanding anything to
the contrary in this Agreement, nothing in this Agreement is intended or shall be construed to
require the Stockholder or such Representative to take any action, or limit any action the
Stockholder or such Representative may take, to the extent that doing so would be inconsistent with
Stockholder or such Representative’s fiduciary duties as a director of Replidyne. Notwithstanding
anything in this Agreement to the contrary, Stockholder makes no agreement or understanding herein
in any capacity other than in its capacity as a record holder and beneficial owner of the Subject
Securities.
8.16 Construction.
(a) For purposes of this Agreement, whenever the context requires: the singular number
shall include the plural, and vice versa; the masculine gender shall include the feminine
and neuter genders; the feminine gender shall include the masculine and neuter genders; and
the neuter gender shall include masculine and feminine genders.
(b) The parties agree that any rule of construction to the effect that ambiguities are
to be resolved against the drafting party shall not be applied in the construction or
interpretation of this Agreement.
(c) As used in this Agreement, the words “include” and “including,” and variations
thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be
followed by the words “without limitation.”
(d) Except as otherwise indicated, all references in this Agreement to “Sections” and
“Exhibits” are intended to refer to Sections of this Agreement and Exhibits to this
Agreement.
[Signature Page Follows]
9.
In Witness Whereof, the Company and Stockholder have caused this Agreement to be
executed as of the date first written above.
CARDIOVASCULAR SYSTEMS, INC. | ||||||
By: | ||||||
Name: | ||||||
Title: |
STOCKHOLDER | ||||||||
Name: | ||||||||
Address: | ||||||||
Facsimile: | ||||||||
Additional Securities Beneficially | ||||
Shares Held of Record | Options and Other Rights | Owned | ||
10.
Exhibit A
Form Of Irrevocable Proxy
Form Of Irrevocable Proxy
The undersigned stockholder (the “Stockholder”) of Replidyne, Inc., a
Delaware corporation (“Replidyne”), hereby irrevocably (to the fullest extent permitted by
law) appoints and constitutes Xxxxx X. Xxxxxx, Xxxxxxxx X. Xxxxxxxxx and Cardiovascular Systems,
Inc., a Minnesota corporation (the “Company”), and each of them, the attorneys and
proxies of the Stockholder with full power of substitution and resubstitution, to the full extent
of the Stockholder’s rights with respect to the outstanding shares of capital stock of Replidyne
owned of record by the Stockholder as of the date of this proxy, which shares are specified on the
final page of this proxy (the “Shares”). Upon the execution hereof, all prior proxies
given by the Stockholder with respect to any of the Shares are hereby revoked, and the Stockholder
agrees that no subsequent proxies will be given with respect to any of the Shares.
This proxy is irrevocable, is coupled with an interest and is granted in connection with the
Voting Agreement, dated as of the date hereof, between the Company and the Stockholder (the
“Voting Agreement”), and is granted in consideration of the Company entering into the
Agreement and Plan of Merger and Reorganization, dated as of the date hereof, among Replidyne,
Responder Merger Sub, Inc. and the Company (the “Merger Agreement”). This proxy will
terminate on the Voting Covenant Expiration Date (as defined in the Voting Agreement).
The attorneys and proxies named above will be empowered, and may exercise this proxy, to vote
not less than 68.0% of the Shares at any time until the Voting Covenant Expiration Date at any
meeting of the stockholders of Replidyne, however called, and in connection with any written action
by consent of stockholders of Replidyne:
(i) in favor of the Merger (as defined in the Merger Agreement), the execution and
delivery by Replidyne of the Merger Agreement and the adoption and approval of the Merger
Agreement and the terms thereof, in favor of each of the other actions contemplated by the
Merger Agreement and in favor of any action in furtherance of any of the foregoing; and
(ii) against any action or agreement that would result in a material breach of any
covenant or obligation of Replidyne in the Merger Agreement that would have the effect of
preventing or materially delaying the Merger; and
(iii) against the following actions (other than the Merger and the other transactions
contemplated by the Merger Agreement (including, for the avoidance of doubt, the
consummation of a Pipeline Transaction (as defined in the Merger Agreement) and any actions
relating to the winding up of Replidyne’s business in accordance with the Merger
Agreement)): (A) any extraordinary corporate transaction, such as a merger, consolidation
or other business combination involving Replidyne or any subsidiary of Replidyne; (B) any
sale, lease or transfer of a material amount of assets of Replidyne or any subsidiary of
Replidyne; (C) any reorganization, recapitalization, dissolution or liquidation of Replidyne
or any subsidiary of Replidyne; (D) any change in a majority of the board of directors of
Replidyne; (E) any amendment to Replidyne’s certificate of
A-1
incorporation or bylaws that would prevent or materially delay the Merger; (F) any
Acquisition Transaction; and (G) any other action which is intended, or could reasonably be
expected to impede, interfere with, delay, postpone, discourage or adversely affect the
Merger or any of the other transactions contemplated by the Merger Agreement or the Voting
Agreement.
The Stockholder may vote the Shares on all other matters not referred to in this proxy, and
the attorneys and proxies named above may not exercise this proxy with respect to such other
matters.
This proxy shall be binding upon the heirs, estate, executors, personal representatives,
successors and assigns of the Stockholder (including any transferee of any of the Shares).
Any term or provision of this proxy that is invalid or unenforceable in any situation in any
jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions
hereof or the validity or enforceability of the offending term or provision in any other situation
or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares
that any term or provision hereof is invalid or unenforceable, the Stockholder agrees that the
court making such determination shall have the power to limit the term or provision, to delete
specific words or phrases, or to replace any invalid or unenforceable term or provision with a term
or provision that is valid and enforceable and that comes closest to expressing the intention of
the invalid or unenforceable term or provision, and this proxy shall be enforceable as so modified.
In the event such court does not exercise the power granted to it in the prior sentence, the
Stockholder agrees to replace such invalid or unenforceable term or provision with a valid and
enforceable term or provision that will achieve, to the extent possible, the economic, business and
other purposes of such invalid or unenforceable term.
[Signature Page Follows]
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Dated: , 2008
Number of shares of Common Stock of Replidyne owned of record as of the date of this proxy: | ||||
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