STOCKHOLDERS AGREEMENT
Exhibit
2
AGREEMENT,
dated as of April 4, 2007 among Roche Holding Ltd, a joint stock company
organized under the laws of Switzerland (“Parent”),
and
the stockholders of BioVeris Corporation, a Delaware corporation (the
“Company”),
that
are parties hereto (each, a “Stockholder”
and,
collectively, the “Stockholders”).
WHEREAS,
in order to induce Parent and Lili Acquisition Corporation, a wholly-owned
subsidiary of Parent (“Sub”),
to
enter into an Agreement and Plan of
Merger,
dated as of the date hereof (the “Merger
Agreement”),
with
the Company, Parent has requested each Stockholder, and each Stockholder has
agreed to enter into this Agreement with respect to all shares of common stock,
par value $0.001 per share, of the Company (the “Common Shares”)
and all
shares of Series B Preferred Stock, par value $0.001 per share, of the Company
(the “Preferred
Shares”
and,
together with the Common Shares, the “Shares”)
that
such Stockholder beneficially owns.
NOW,
THEREFORE, the parties hereto agree as follows:
ARTICLE
1
Voting
Agreement
Section
1.01.
Voting Agreement. Each
Stockholder hereby agrees, severally and not jointly, that from and after the
date hereof and until the earliest to occur of (i) the Effective Time, (ii)
the
termination of the Merger Agreement in accordance with its terms, or (iii)
a
Company Adverse Recommendation Change unrelated to a Takeover Proposal (such
earliest occurrence being the "Expiration
Time")
to vote
or cause to be voted all Shares Beneficially Owned by such Stockholder at the
time of any vote to approve and adopt the Merger Agreement and any other
agreements contemplated thereby and any actions directly related thereto at
any
meeting of the stockholders of the Company and any adjournment thereof (a
"Stockholder
Meeting"),
at
which such Merger Agreement and such other related agreements (or any amended
version thereof, other than any amendment which reduces the purchase price,
approved by the board of directors of the Company) or such other actions are
submitted for consideration and vote of the stockholders of the Company (or
pursuant to action by written consent in lieu of any such meeting). Each
Stockholder hereby agrees that, until the Expiration Time, he or she will not
vote any Shares in favor of the approval of any (i) Takeover Proposal, (ii)
reorganization, recapitalization, liquidation or winding up of the Company
or
any other extraordinary transaction involving the Company not contemplated
by
the Merger Agreement or (iii) corporate action (other than an adjournment of
the
Stockholder Meeting which is recommended by the Board of Directors of the
Company) the consummation of which would frustrate the
purposes,
or prevent or delay the consummation, of the transactions contemplated by the
Merger Agreement.
ARTICLE
2
Representations
and Warranties of Each Stockholder
Each
Stockholder hereby, severally and not jointly, represents and warrants to Parent
that:
ARTICLE
3
Representations
and Warranties of Parent
Parent
represents and warrants to each Stockholder that:
2
Section
3.01.
Corporate Authorization. The
execution, delivery and performance by Parent of this Agreement and the
consummation by Parent of the transactions contemplated hereby are within the
corporate powers of Parent and have been duly authorized by all necessary
corporate action. This Agreement constitutes a valid and binding Agreement
of
Parent, enforceable against it in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency, moratorium and similar
laws relating to or affecting creditors generally.
ARTICLE
4
Covenants
of Each Stockholder
Each
Stockholder, severally and not jointly, hereby covenants and agrees
that:
Section
4.01.
No
Proxies for or Encumbrances on Shares.
Except
pursuant to the terms of this Agreement, such Stockholder shall not, without
the
prior written consent of Parent, directly or indirectly, grant any proxies
or
enter into any voting trust or other agreement or arrangement with respect
to
the voting of any Shares.
ARTICLE
5
Miscellaneous
Section
5.01.
Personal Capacity. No
person
executing this Agreement who is or becomes during the term hereof a director
or
officer of the Company makes any agreement or understanding herein in his or
her
capacity as a director or officer of the Company. Each Stockholder signs solely
in his or her capacity as the Beneficial Owner of the Shares and nothing herein
shall limit or affect any actions taken by any Stockholder in his or her
capacity as an officer or director of the Company.
3
Section
5.06. No
Waiver.
No
failure or delay by Parent in exercising any right, power or privilege under
this Agreement shall operate as a waiver thereof nor shall any single or partial
exercise thereof preclude any other or further exercise thereof or the exercise
of any other right, power or privilege.
Section
5.07. WAIVER
OF JURY TRIAL.
EACH
PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING
TO THIS AGREEMENT.
Section
5.09. Severability.
If any
term, provision or covenant of this Agreement is held by a court of competent
jurisdiction or other authority to be invalid, void or unenforceable, the
remainder of the terms, provisions and covenants of this Agreement shall remain
in full force and effect and shall in no way be affected, impaired or
invalidated.
4
Section
5.10. Specific
Performance.
The
parties hereto agree that irreparable damage would occur in the event any
provision of this Agreement is not performed in accordance with the terms hereof
and that the parties shall be entitled to seek specific performance of the
terms
hereof in addition to any other remedy to which they are entitled at law or
in
equity.
Section
5.11.
Consent to Service of Process. Parent
hereby appoints Roche Holdings, Inc., a Delaware corporation (the “Authorized
Agent”), upon whom process may be served in any suit, action or proceeding
arising out of or relating to this Agreement. Parent agrees to take any and
all
reasonable action, including the filing of any and all documents, that may
be
necessary to establish and continue such appointment in full force and effect
as
aforesaid. Parent agrees that service of process upon the Authorized Agent
shall
be, in every respect, effective service of process upon Parent.
ARTICLE
6
Definitions
Capitalized
terms used herein but not defined herein shall have the meaning set forth in
the
Merger Agreement, mutatis
mutandis.
“Beneficial
Owner”
or
“Beneficial
Ownership”
with
respect to any securities means having “beneficial ownership” of such securities
(as determined pursuant to Rule 13d-3 under the Exchange Act).
5
IN
WITNESS
WHEREOF, the parties hereto have caused this Agreement to be duly executed
as of
the day and year first above written.
By:
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/s/ Xxxxx Xxxxx | |
Name: Xxxxx
Xxxxx
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Title:
Director
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By:
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/s/ Xxxx Xxxxxxxxxxx | |
Name: Xxxx
Xxxxxxxxxxx
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Title: Director
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STOCKHOLDERS:
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/s/
Xxxxxx X. Xxxxxxxxxxx
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Shares
of Common Stock Beneficially Owned by
Xxxxxx
and Xxxxxx Xxxxxxxxxxx:
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5,795,914*
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XXXXXX
X. XXXXXXXXXXX
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/s/
Xxxxxx Xxxxxxxxxxx
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Shares
of Preferred Stock Beneficially Owned by
Xxxxxx
X. Xxxxxxxxxxx:
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1,000
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XXXXXX
XXXXXXXXXXX
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*Includes 332,000 Options to Purchase Common Stock owned by Xxxxxx and Xxxxxx Xxxxxxxxxxx. |