EXHIBIT 10.15
VISTA MEDICAL TECHNOLOGIES, INC.
AMENDMENT TO THE AMENDED AND RESTATED
INVESTORS' RIGHTS AGREEMENT
THIS AMENDMENT TO THE AMENDED AND RESTATED INVESTORS' RIGHTS AGREEMENT (the
"Amendment") is made as of the 22nd day of February, 1997 (the "Effective
Date"), by and among VISTA MEDICAL TECHNOLOGIES, INC., a Delaware corporation
(the "Company"), HEARTPORT, INC., a Delaware corporation (the "Warrant Holder")
and the Stockholders listed on Exhibit "A" hereto, each of which is herein
referred to as a "Stockholder."
R E C I T A L S
WHEREAS, the Company and certain of the Stockholders are parties to a
certain Amended and Restated Investors' Rights Agreement dated as of
November 27, 1996, as amended through the date hereof (the "Agreement"),
pursuant to which certain of the Stockholders possess registration rights,
information rights, rights of first refusal and other rights, and the Company is
obligated thereunder;
WHEREAS, the Company has issued a warrant ("Warrant") to Warrant Holder to
purchase up to 133,333 shares of Common Stock of the Company; and
WHEREAS, the Stockholders, the Company and the Warrant Holder hereby intend
that this Amendment shall amend the Agreement so that the obligations of the
Company to register Common Stock issuable to Warrant Holder upon exercise of the
Warrant are covered by the Agreement.
NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:
1. Section 1.2 entitled "Certain Definitions" is hereby amended to add
the following definition:
"WARRANT: shall mean that certain Warrant dated February 22, 1997 issued by
the Company to Heartport, Inc."
2. The following definition in the Agreement is amended in its entirety
to read as follows:
"REGISTRABLE SECURITIES" means (i) the Common Stock issuable or issued upon
conversion of the Series A Preferred, (ii) the Common Stock issuable or issued
upon conversion of the Series B Preferred, (iii) the Common Stock issuable or
issued upon
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conversion of the Series C Preferred, (iv) the Common Stock issuable or issued
upon exercise of the Warrant and (v) any Common Stock of the Company issued as
(or issuable upon the conversion or exercise of any warrant, right or other
security which is issued as) a dividend or other distribution with respect to,
or in exchange for or in replacement of, the shares referenced in (i), (ii),
(iii) and (iv) above, excluding in all cases, however, any Registrable
Securities sold by a person in a transaction in which his rights under this
Section 1 are not assigned and any Registrable Securities as to which the
registration rights granted hereunder have been terminated pursuant to Section
1.14.
3. Section 4.8 is amended in its entirety to read as follows:
"4.8 APPROVAL OF AMENDMENTS AND WAIVERS. Any term of this agreement
may be amended or terminated 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 (i) the Company and
(ii) the holders of at least a majority of the then outstanding shares of
Registrable Securities (including for this purpose shares of Series A Preferred,
Series B Preferred and Series C Preferred prior to conversion into Registrable
Securities), excluding from the determination of such a majority in clause (ii)
(both in determining the total number of such shares outstanding and the number
of such shares consenting or not consenting) all shares previously disposed of
by such holders pursuant to one or more registration statements under the
Securities Act or pursuant to Rule 144. Any amendment, termination or waiver
effected in accordance with this section shall be binding upon the Stockholders,
each of their transferees and the Company. Each Stockholder acknowledges that
by the operation of this Section the holders of a majority of the outstanding
Registrable Securities as aforesaid may have the right and power to diminish or
eliminate all rights of such Stockholders under this Agreement."
4. Section 1.15 is amended to replace the word "Investor" with the word
"Holder" in the second line of the last paragraph of Section 1.15. Section
2.3(a) is amended to replace the word "Investor" in line 1 with the word
"Stockholder." Section 2.3(b) is amended to replace the word "Holder" the first
time that it appears in line 2 with the word "Stockholder." Sections 4.4 and
4.7 are each hereby amended to replace all references to the words
"stockholders" and "Stockholders" with the words "Holder" and "Holders",
respectively.
5. By signature below, Warrant Holder agrees that it will have and comply
with all of the rights and obligations of a Holder under the Agreement. All
other terms and provisions of the Agreement remain in full force and effect.
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The foregoing Amendment to the Amended and Restated Investors' Rights
Agreement is hereby executed as of the date first above written.
THE COMPANY:
VISTA MEDICAL TECHNOLOGIES, INC.
By: /s/ Xxxx Xxxx
------------------------------
Title: President
-----------------------------
Address: 0000 Xxxxxxx Xxxxxxx, Xxxxx X
Xxxxxxxx, XX 00000
THE STOCKHOLDERS:
XXXXXX CITY PARTNERS
By:
------------------------------
Title:
---------------------------
Address: 000 Xxxxx Xxxx, Xxx. 000
Xxxxxx Xxxx, XX 00000
ONE LIBERTY FUND III, L.P.
By:/s/ X. Xxxxxxx
------------------------------
Title:
---------------------------
Address: 0 Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxxxxx, XX 00000
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GILDE INTERNATIONAL, B.V.
By:
------------------------------
Title:
---------------------------
Address: 0 Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxxxxx, XX 00000
DOMAIN PARTNERS III, L.P.
By: One Xxxxxx Square Associates III, L.P.
By:/s/ Xxxxx X. Xxxxx
------------------------------
Title:General Parner
---------------------------
Address: Xxx Xxxxxx Xxxxxx, Xxx. 000
Xxxxxxxxx, XX 00000
BIOTECHNOLOGY INVESTMENTS
LIMITED
By: Old Court Limited
By:/s/ Xxxxx X. Xxxxx
------------------------------
Title:Attorney in Fact
---------------------------
Address: St. Julian's Court
St. Xxxxx Port
Guernsey, Channel Islands
D.P. III ASSOCIATES, L.P.
By: One Xxxxxx Square Associates III, L.P.
By:Xxxxx X. Xxxxx
------------------------------
Title:General Partner
---------------------------
Address: Xxx Xxxxxx Xxxxxx, Xxx. 000
Xxxxxxxxx, XX 00000
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SBIC PARTNERS, L.P.
By: Xxxxxxx Xxxxxxx & Xxxxx X.X.,
General Partner
By: Xxxxxxx Xxxxxxx & Xxxxx Venture Co.,
General Partner
By:
------------------------------
Title:
---------------------------
By: SL-SBIC Partners, L.P.,
General Partner
By: FW-SBIC, Inc.,
General Partner
By:
------------------------------
Title:
---------------------------
Address: 000 Xxxx Xxxxxx, Xxxxx 0000
Xxxx Xxxxx, XX 00000
KOICHIRO HIRO
---------------------------------
Address: c/o Oktas
000 Xxxxxxxx Xxxx
Xxxxxxxxxxx, XX 00000
MEDTRONIC ASSET MANAGEMENT, INC.
---------------------------------
By:/s/ X. X. Estwood
------------------------------
Title: V.P.
---------------------------
Address: 0000 Xxxxxxx Xxxxxx XX
Xxxxxxxxxxx, XX 00000
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WARRANT HOLDER:
HEARTPORT, INC., a Delaware corporation
---------------------------------
By: Xxxxxx X. Xxxxxxx
------------------------------
Title:C.E.O.
---------------------------
Address: 000 Xxxxxxxxxx Xxxxx
Xxxxxxx Xxxx, XX 00000
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EXHIBIT A
SCHEDULE OF STOCKHOLDERS
------------------------
Stockholders
------------
XXXXXX CITY PARTNERS
000 Xxxxx Xxxx, Xxx. 000
Xxxxxx Xxxx, XX 00000
Attention: Xx. X.X. Xxxxx
ONE LIBERTY FUND III
0 Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxxxxx, XX 00000
Attention: Xxx Xxxxxxx
GILDE INTERNATIONAL B.V.
0 Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxxxxx, XX 00000
Attention: Xxx Xxxxxxx
B. U. N. P.
c/o Community Technology Fund
Boston University Ventures
000 Xxx Xxxxx Xxxx
Xxxxxx, XX 00000
Attention: Xxxx X. Xxxxxxx, Xx.
DOMAIN PARTNERS III, L.P.
Xxx Xxxxxx Xxxxxx. Xxx. 000
Xxxxxxxxx. XX 00000
Attention: Xxxxx X. Xxxxx. Ph.D.
BIOTECHNOLOGY INVESTMENTS LIMITED
St. Julian's Court
St. Xxxxx Xxx
Guernsey. Channel Islands
with copy to:
c/o Domain Associates
Xxx Xxxxxx Xxxxxx, Xxx. 000
Xxxxxxxxx, XX 00000
Attention: Xxxxx X. Xxxxx. Ph.D.
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DP III ASSOCIATES, L.P.
Xxx Xxxxxx Xxxxxx, Xxx. 000
Xxxxxxxxx, XX 00000
Attention: Xxxxx X. Xxxxx, Ph.D
SBIC PARTNERS. L.P.
000 Xxxx Xxxxxx, Xxxxx 0000
Xxxx Xxxxx, XX 00000
Attention: Xxxxxxxx Xxxxxxx
XXXXXXXX XXXX
c/o Oktas
000 Xxxxxxxx Xxxx
Xxxxxxxxxxx, XX 00000
DELAWARE CHARTER GUARANTEE &
TRUST TTEE FBO XXXXX X. BRIEFS
0000 Xxxx Xxxx Xxxx 0-000
Xxxxx Xxxx, XX 00000
Attention: Xxxx Xxxxxxxx
with copy to:
c/o Oktas
000 Xxxxxxxx Xxxx
Xxxxxxxxxxx, XX 00000
Attention: Xxxxx Briefs
PIONEER CAPITAL CORPORATION
00 Xxxxx Xxxxxx
Xxxxxx, XX 00000
ACCEL III, L.P.
0 Xxxxxx Xxxxxx, Xxx. 000
Xxxxxxxxx, XX 00000
ACCEL JAPAN, L.P.
0 Xxxxxx Xxxxxx, Xxx. 000
Xxxxxxxxx, XX 00000
ACCEL '91
0 Xxxxxx Xxxxxx, Xxx. 000
Xxxxxxxxx, XX 00000
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OAK INVESTMENT PARTNERS V, L.P.
0 Xxxxxx Xxxxxx
Xxxxxxxx, XX 00000
OAK V AFFILIATES FUND, L.P.
0 Xxxxxx Xxxxxx
Xxxxxxxx, XX 00000
XXXXX X. XXXXXXX
0000 Xxxxxxxx Xxxxxx
Xxx Xxxxx, XX 00000
XXXX XXXXXXXXX
00000 Xxx xxx Xxxx
Xxxxxx Xxxxx Xx, XX 00000
XXXX XXXXXX XXXXXXX TRUST U/A DTD 7-11-88
X.X. Xxx 0000
Xx Xxxxx, XX 00000
XXXXXX XXXXX, M.D.
0000 X. X. Xxxxxx Xxxx, Xxxxx 000
Xxxxxxxx, XX 00000
NATIONAL CITY BANK AS CUSTODIAN
CARDIAC SURGICAL FBO XX. XXXXXXX X.
XXXXXXXX, XX
000 Xxxxxxxx Xxxx, XXX-0
Xxxxxxxxxxx, XX 00000
GUARANTEE & TRUST CO., TRUSTEE
FBO XXXXXXX X. XXXXXXX, M.D.
P. O. Xxx 0000
Xxxxxx Xxxxx Xx, XX 00000
XXXXXXXX X. XXXXX, M.D.
0000 Xxxxxxxxx Xxx
Xxxxxx Xxxx, XX 00000
SELECTED MEDICAL ENTERPRISES
0000 Xxxx Xxx
Xxxxxx, XX 00000
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PROMEDICA INTERNATIONAL, INC.
000 Xxxxxxx Xxxxxx Xxxxx, #000
Xxxxxxx Xxxxx, XX 00000
MEDTRONIC ASSET MANAGEMENT, INC.
0000 Xxxxxxx Xxxxxx XX
Xxxxxxxxxxx, XX 00000
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