VOTING AGREEMENT
Exhibit 10.2
This VOTING AGREEMENT (this “Agreement”) is entered into as of June 30, 2010, by and
among Celgene Corporation, a Delaware corporation (“Parent”), Artistry Acquisition Corp., a
Delaware corporation and a wholly owned subsidiary of Parent (“Sub”), and the Persons whose
names are set forth on the signature pages hereto under the caption “Stockholders” (each
individually a “Stockholder” and, collectively, the “Stockholders”).
W I T N E S S E T H:
WHEREAS, as of the date of this Agreement, each Stockholder owns the number of shares of
Common Stock, par value $.001 per share (the “Company Stock”), of Abraxis BioScience, Inc.,
a Delaware corporation (the “Company”), set forth opposite such Stockholder’s name on
Schedule A attached hereto;
WHEREAS, concurrently herewith, Parent, Sub and the Company are entering into an Agreement and
Plan of Merger, dated as of this date (the “Merger Agreement”), pursuant to which Sub will
merge with and into the Company and the Company will survive as a wholly-owned subsidiary of Parent
(the “Merger”), and each share of Company Stock (other than Excluded Company Shares) will
be converted into the right to receive the Merger Consideration, in accordance with the terms of,
and subject to the conditions set forth in, the Merger Agreement; and
WHEREAS, as a condition to the willingness of Parent and Sub to enter into the Merger
Agreement, and as an inducement and in consideration therefor, Parent and Sub have required that
the Stockholders agree, and the Stockholders have agreed, to enter into this Agreement.
NOW, THEREFORE, in consideration of the foregoing and the mutual premises, representations,
warranties, covenants and agreements contained in this Agreement, the parties, intending to be
legally bound, hereby agree as follows:
ARTICLE I
DEFINITIONS
DEFINITIONS
SECTION 1.1 Defined Terms. For purposes of this Agreement, terms used in this
Agreement that are defined in the Merger Agreement but not in this Agreement shall have the
respective meanings ascribed to them in the Merger Agreement.
SECTION 1.2 Other Definitions. For purposes of this Agreement:
(a) “Company Options” means options to acquire Company Stock granted to a Stockholder
by the Company and held by a Stockholder as of the date of this Agreement as set forth on
Schedule A.
(b) “Company RSUs” means restricted stock units with respect to Company Stock granted
to a stockholder by the Company and held by a Stockholder as of the date of this Agreement as set
forth on Schedule A.
(c) “Immediate Family” means lineal descendants (whether by blood or marriage),
ancestral forebears, current and former spouses, and persons related by blood, adoption or marriage
to any of the foregoing.
(d) “New Shares” means any shares of Company Stock (other than Owned Shares) acquired
by a Stockholder at any time during the Voting Period.
(e) “Option Shares” means any shares of Company Stock issued or issuable upon exercise
of Company Options.
(f) “Owned Shares” means all of the shares of Company Stock owned by such Stockholder
as of the date of this Agreement as set forth on Schedule A.
(g) “Permitted Transferee” means PSS and any PSS Entity or any charitable foundation
or organization, in each case only if such parties agree to be bound by the terms of this
Agreement.
(h) “PSS” means Xx. Xxxxxxx Soon-Shiong.
(i) “PSS Entity” means any trust for the benefit of PSS or any members of PSS’
Immediate Family and any other entity in which PSS or any members of PSS’ Immediate Family
separately or collectively hold, directly or indirectly, a majority of the outstanding equity
interests.
(j) “Representative” means, with respect to any particular Person, the officers,
directors, employees, trustees, investment bankers, attorneys and other advisors or representatives
of such Person.
(k) “RSU Shares” means any shares of Company Stock issued or issuable upon vesting of
Company RSUs.
(l) “Transfer” means sell, transfer, tender, assign, pledge, encumber or otherwise
dispose.
(m) “Voting Period” means the period from and including the date of this Agreement
through and including the earliest to occur of (i) the Effective Time, and (ii) the termination of
the Merger Agreement in accordance with its terms.
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ARTICLE II
VOTING AGREEMENT AND IRREVOCABLE PROXY
VOTING AGREEMENT AND IRREVOCABLE PROXY
SECTION 2.1 Agreement to Vote.
(a) Each Stockholder hereby agrees that, during the Voting Period, such Stockholder shall vote
or execute consents, as applicable, with respect to the Owned Shares and any New Shares owned by
such Stockholder as of the applicable record date (or cause to be voted or a consent to be executed
with respect to the Owned Shares or any New Shares owned by such Stockholder as of the applicable
record date) in favor of the approval and adoption of the Merger Agreement and the transactions
contemplated by the Merger Agreement, at any meeting (or any adjournment or postponement thereof)
of, or in connection with any proposed action by written consent of, the holders of Company Stock
at or in connection with which any of the holders vote or execute consents with respect to any of
the foregoing matters.
(b) Subject to Section 3.2 hereof, each Stockholder hereby agrees that, during the Voting
Period, such Stockholder shall vote or execute consents, as applicable, with respect to the Owned
Shares and any New Shares owned by such Stockholder as of the applicable record date (or cause to
be voted or a consent to be executed with respect to the Owned Shares and any New Shares owned by
such Stockholder as of the applicable record date) against each of the matters set forth in clauses
(i), (ii), (iii) and (iv) below at any meeting (or any adjournment or postponement thereof) of, or
in connection with any proposed action by written consent of, the holders of Company Stock at or in
connection with which any of the holders vote or execute consents with respect to any of the
following matters:
(i) any merger agreement or merger (other than the Merger Agreement, the Merger or any
business combination or transaction with Parent or any of its affiliates), consolidation,
combination, reorganization, recapitalization, dissolution, liquidation or winding up of or
by the Company or any other business combination or extraordinary corporate transaction
involving the Company or any of its Subsidiaries, or any sale, lease or transfer of a
material amount of assets of the Company or any of its Subsidiaries;
(ii) any amendment of the Company’s certificate of incorporation, as amended to date,
unless such amendment is consented to by Parent;
(iii) any action, proposal, transaction or agreement that would reasonably be expected
to result in a breach in any respect of any covenant, representation or warranty or any
other obligation or agreement of the Company contained in the Merger Agreement or of such
Stockholder contained in this Agreement; and
(iv) any action, proposal, transaction or agreement involving the Company or any of
its Subsidiaries that would reasonably be expected to prevent,
impede, frustrate, interfere with, delay, postpone or adversely affect the Merger and
the other transactions contemplated by the Merger Agreement.
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(c) Any vote required to be cast or consent required to be executed pursuant to this Section
2.1 shall be cast or executed in accordance with the applicable procedures relating thereto so as
to ensure that it is duly counted for purposes of determining that a quorum is present (if
applicable) and for purposes of recording the results of that vote or consent. Nothing contained
in this Section 2.1 shall require any Stockholder to vote or execute any consent with respect to
any Option Shares or RSU Shares not issued to the Stockholder prior to the applicable record date
for that vote or consent.
SECTION 2.2 Grant of Irrevocable Proxy. Each Stockholder hereby irrevocably appoints
Parent and any designee of Parent, and each of them individually, as such Stockholder’s proxy and
attorney-in-fact, with full power of substitution and resubstitution, to vote or execute consents
during the Voting Period, with respect to the Owned Shares and any New Shares owned by such
Stockholder as of the applicable record date, in each case solely to the extent and in the manner
specified in Section 2.1. This proxy is given to secure the performance of the duties of such
Stockholder under this Agreement, and its existence will not be deemed to relieve such Stockholder
of its obligations under Section 2.1. Other than as described in this Section 2.2
and other than the granting of proxies to vote Owned Shares or New Shares with respect to the
election of directors and ratification of the appointment of the Company’s auditors at the
Company’s annual meeting of Stockholders, in accordance with the recommendation of the Board of
Directors of the Company, such Stockholder shall not directly or indirectly grant any Person any
proxy (revocable or irrevocable), power of attorney or other authorization with respect to any of
such Stockholder’s Owned Shares or New Shares. For Owned Shares or New Shares as to which the
Stockholder is the beneficial but not the record owner, such Stockholder will cause any record
owner of such Owned Shares or New Shares to grant to Parent a proxy to the same effect as that
contained in this Section 2.2.
SECTION 2.3 Nature of Irrevocable Proxy. The proxy and power of attorney granted
pursuant to Section 2.2 by each Stockholder shall be irrevocable during the Voting Period, shall be
deemed to be coupled with an interest sufficient in law to support an irrevocable proxy and shall
revoke any and all prior proxies granted by such Stockholder with regard to such Stockholder’s
Owned Shares or any New Shares acquired by such Stockholder, and such Stockholder acknowledges that
the proxy constitutes an inducement for Parent and Sub to enter into the Merger Agreement. The
power of attorney granted by each Stockholder is a durable power of attorney and shall survive the
bankruptcy, dissolution, death or incapacity of such Stockholder. The proxy and power of attorney
granted hereunder shall terminate only upon the expiration of the Voting Period.
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ARTICLE III
COVENANTS
COVENANTS
SECTION 3.1 Voting Period Restrictions. Each Stockholder agrees that such Stockholder
shall not, during the Voting Period, (i) Transfer any or all of such Stockholder’s Owned Shares or
New Shares, or any interest therein, or enter into any agreement with respect to the Transfer of
any or all of such Stockholder’s Owned Shares or New Shares, or any interest therein, or (ii)
except pursuant to the terms of this Agreement, grant any proxies or powers of attorney, deposit
any Owned Shares or New Shares into a voting trust or enter into a voting agreement with respect to
any Owned Shares or New Shares; provided that the foregoing shall not prevent (a) the
Transfer of Owned Shares or New Shares upon the death of such Stockholder pursuant to the terms of
any trust or will of such Stockholder or by the laws of intestate succession, but only if, and any
such Transfer shall be void unless, the transferee executes and delivers to Parent an agreement to
be bound by the terms of this Agreement to the same extent as such Stockholder, (b) the Transfer of
Owned Shares or New Shares to a Permitted Transferee, (c) the Transfer of Owned Shares or New
Shares solely in connection with the payment of the exercise price and/or the satisfaction of any
tax withholding obligation arising from the exercise of any Company Option or the vesting of any
Company RSU, (d) the conversion of any Owned Shares and New Shares into the right to receive the
Merger Consideration pursuant to the Merger in accordance with the terms of the Merger Agreement,
or (e) the granting of proxies to vote Owned Shares or New Shares with respect to the election of
directors and ratification of the appointment of the Company’s auditors at the Company’s annual
meeting of Stockholders, in accordance with the recommendation of the Board of Directors of the
Company.
SECTION 3.2 No Shop Obligations of Each Stockholder. Each Stockholder agrees that such
Stockholder shall not, and that such Stockholder shall use its reasonable best efforts to cause the
Representatives of such Stockholder to not, directly or indirectly, (i) solicit, initiate, or
knowingly encourage the making, submission or announcement of any inquiry regarding, or any
proposal or offer which would reasonably be expected to lead to, an Acquisition Proposal, (ii)
enter into, participate, continue or otherwise engage in discussions or negotiations with, or
provide any non-public information to any Person (other than Parent, Sub and their Representatives)
with respect to any inquiries regarding, or the making, submission or announcement of, an
Acquisition Proposal, or (iii) enter into or approve any letter of intent, agreement in principle,
option agreement, share purchase agreement, acquisition agreement or similar agreement relating to
an Acquisition Proposal; provided, however, that each Stockholder may, and may
authorize and permit any Representative of such Stockholder to, provide non-public information to,
and participate in discussions or negotiations, with any Person if at such time such Stockholder
has been notified by the Company that the Board of Directors of the Company is permitted to provide
non-public information to, or engage in discussions or negotiations with, such Person in accordance
with the Merger Agreement. The Stockholder shall immediately cease and cause to be terminated any
ongoing solicitation, discussion or negotiation with any Person conducted prior to the date of this
Agreement by the Stockholder or any of its Representatives with respect to any actual or potential
Acquisition Proposal. A Stockholder shall notify Parent orally and in writing promptly
(and in any event within 24 hours) after receipt of any Acquisition Proposal or any request
for information or inquiry which could reasonably be expected to lead to an Acquisition Proposal.
The written notice shall include the identity of the Person making such Acquisition Proposal,
request or inquiry, the material terms of the Acquisition Proposal, request or inquiry (including
any material written amendments or modifications, or any proposed material written amendments or
modifications, thereto), and the Stockholder shall keep Parent reasonably informed on a current
basis of any material changes with respect to such Acquisition Proposal, request or inquiry.
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SECTION 3.3 General Covenants. Each Stockholder agrees that such Stockholder shall
not:
(a) enter into any agreement, commitment, letter of intent, agreement in principle, or
understanding with any Person or take any other action that violates or conflicts with or would
reasonably be expected to violate or conflict with, or result in or give rise to a violation of or
conflict with, such Stockholder’s covenants and obligations under this Agreement or make any of its
representations and warranties contained herein untrue or incorrect; or
(b) take any action that could restrict or otherwise affect such Stockholder’s legal power,
authority and right to comply with and perform such Stockholder’s covenants and obligations under
this Agreement.
SECTION 3.4 Stockholders’ Capacity. Parent and Sub acknowledge that no Stockholder is
making any agreement or understanding herein in such Stockholder’s capacity as a director or
officer of the Company and that each Stockholder is executing this agreement solely in such
Stockholder’s capacity as the owner of Company Stock and nothing herein shall limit or affect any
actions taken by such Stockholder in such Stockholder’s capacity as a director or officer of the
Company.
SECTION 3.5 Letter of Transmittal and Delivery of Merger Consideration. Parent agrees
to provide the Stockholders a copy of the letter of transmittal referenced in Section 2.2 of the
Merger Agreement a reasonable time period prior to the anticipated Closing Date to allow the
Stockholders to complete the letter of transmittal and provide such letter of transmittal to the
Paying Agent prior to or on the Closing Date. Parent agrees to use reasonable best efforts to
cause the Paying Agent to deliver by wire transfer of immediately available funds the Merger
Consideration to which the Stockholders are entitled under the terms of the Merger Agreement on the
same date as the Closing Date.
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ARTICLE IV
REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDERS
REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDERS
Each Stockholder hereby represents and warrants to Parent and Sub as follows:
SECTION 4.1 Authorization. Such Stockholder has all power and authority (or legal
capacity in the case of an individual) to execute and deliver this Agreement and to perform its
obligations hereunder. This Agreement has been duly and validly
authorized, executed and delivered by such Stockholder and, assuming it has been duly and
validly authorized, executed and delivered by Parent and Sub, constitutes a legal, valid and
binding obligation of such Stockholder, enforceable against such Stockholder in accordance with its
terms, except to the extent that enforceability may be limited by (i) applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws now or
hereafter in effect relating to creditor’s rights generally, and (ii) general principles of equity.
SECTION 4.2 Ownership of Shares. As of the date hereof, all Owned Shares, Company
Options and Company RSUs owned by such Stockholder are listed on Schedule A attached
hereto. Such Stockholder (a) is the sole beneficial owner of all of the Owned Shares, Company
Options and Company RSUs listed opposite such Stockholder’s name on Schedule A hereto free
and clear of any Liens, voting agreements or commitments of every kind that would reasonably be
expected to violate or conflict with, or result in or give rise to a violation of or conflict with,
or adversely affect the exercise or fulfillment of, such Stockholder’s covenants and obligations
under this Agreement, and (b) has the sole power to vote (or cause to be voted or consents to be
executed) and to dispose of (or cause to be disposed of) such Owned Shares without restriction, and
no proxies through and including the date hereof given in respect of any or all of such
Stockholder’s Owned Shares, Company Options or Company RSUs are irrevocable and any such proxies
have been revoked.
SECTION 4.3 No Conflicts. Except for a filing of an amendment to a Schedule 13D and a
filing of a Form 4 as required by the Exchange Act, (i) no filing with any Governmental Entity, and
no authorization, consent or approval of any other Person is necessary for the execution of this
Agreement by such Stockholder or the performance by such Stockholder of such Stockholder’s
obligations hereunder and (ii) none of the execution and delivery of this Agreement by such
Stockholder, or the performance by such Stockholder of such Stockholder’s obligations hereunder
shall (A) result in, give rise to or constitute a violation or breach of or a default (or any event
which with notice or lapse of time or both would become a violation, breach or default) under, or
give to others any rights of termination, amendment, acceleration or cancellation of, or result in
the creation of a Lien on, any of the Owned Shares pursuant to any of the terms of any
understanding, agreement, or other instrument or obligation to which such Stockholder is a party or
by which such Stockholder or any of such Stockholder’s Owned Shares are bound, or (B) violate any
applicable law, rule, regulation, order, judgment, or decree applicable to such Stockholder, except
for any of the foregoing as would not reasonably be expected to impair such Stockholder’s ability
to perform such Stockholder’s obligations under this Agreement in any material respect.
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ARTICLE V
REPRESENTATIONS AND WARRANTIES OF PARENT AND SUB
REPRESENTATIONS AND WARRANTIES OF PARENT AND SUB
Each of Parent and Sub hereby represent and warrant to the Stockholders as follows:
SECTION 5.1 Authorization. Such party has all power and authority to execute and
deliver this Agreement and to perform its obligations hereunder. This Agreement has been duly and
validly authorized, executed and delivered by such party and, assuming it has been duly and validly
authorized, executed and delivered by the Stockholders, constitutes a legal, valid and binding
obligation of such party, enforceable against it in accordance with the terms of this Agreement.
SECTION 5.2 No Conflicts. The execution and delivery of this Agreement by such party
does not and the performance of this Agreement by such party will not (i) conflict with, result in
any violation of, require any consent under or constitute a default (whether with notice or lapse
of time or both) under any mortgage, bond, indenture, agreement, instrument or obligation to which
it is a party or by which it or any of its properties is bound; (ii) violate any judgment, order,
injunction, decree or award of any court, administrative agency or other Governmental Entity that
is binding on such party or any of its properties; or (iii) constitute a violation by such party of
any law, regulation, rule or ordinance applicable to such party, in each case, except for any
violation, conflict or consent as would not reasonably be expected to materially impair the ability
of such party to perform its obligations under this Agreement.
ARTICLE VI
TERMINATION
TERMINATION
This Agreement shall terminate upon the earliest to occur of (i) the Effective Time, (ii) any
material amendment to the Merger Agreement that is adverse to the Stockholders that has not been
approved by the Stockholders (it being understood that any decrease in or change in form of the
Merger Consideration shall constitute a material amendment to the Merger Agreement that is adverse
to the Stockholders), and (iii) the termination of the Merger Agreement in accordance with its
terms. Upon the termination of this Agreement, neither Parent, Sub nor the Stockholders shall have
any rights or obligations hereunder and this Agreement shall become null and void and have no
effect; provided, that, with respect to termination pursuant to clause (i) above, Sections
7.1, 7.3 and 7.5 through 7.12 shall survive such termination. Notwithstanding the foregoing,
termination of this Agreement shall not prevent any party from seeking any remedies (at law or in
equity) against any other party for that party’s breach of any of the terms of this Agreement prior
to the date of termination.
ARTICLE VII
MISCELLANEOUS
MISCELLANEOUS
SECTION 7.1 Publication. Each Stockholder hereby permits Parent, Sub and/or the
Company to publish and disclose in press releases, Schedule 13D filings, and the Proxy
Statement/Prospectus (including all documents and schedules filed with the SEC) and any other
disclosures or filings required under the Merger Agreement or by applicable Law such Stockholder’s
identity and ownership of shares of the Company Stock, the nature of such Stockholder’s
commitments, arrangements and understandings pursuant to this Agreement and/or the text of this
Agreement.
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SECTION 7.2 Waiver of Appraisal Rights and Actions. Each Stockholder hereby (i)
waives any rights of appraisal or rights to dissent from the Merger or the adoption of the Merger
Agreement that such Stockholder may have under applicable law and shall not permit any such rights
of appraisal or rights of dissent to be exercised with respect to such Stockholder’s Owned Shares,
any New Shares, any Option Shares or any RSU Shares and (ii) agrees not to commence or participate
in, and to take all actions necessary to opt out of any class in any class action with respect to,
any claim, derivative or otherwise, against Parent, Sub, the Company or any of their respective
successors relating to the negotiation, execution or delivery of this Agreement or the Merger
Agreement or the consummation of the Merger, including any claim alleging a breach of any fiduciary
duty of the Board of Directors of the Company in connection with the Merger Agreement or the
transactions contemplated thereby.
SECTION 7.3 Amendments, Waivers, etc. This Agreement may be amended by the parties at
any time. This Agreement may not be amended except by an instrument in writing signed on behalf of
each of the parties. Except as provided in this Agreement, no action taken pursuant to this
Agreement, including any investigation by or on behalf of any party, shall be deemed to constitute
a waiver by the party taking the action of compliance with any representations, warranties,
covenants or agreements contained in this Agreement. The waiver by any party of a breach of any
provision hereunder shall not operate or be construed as a waiver of any prior or subsequent breach
of the same or any other provision hereunder.
SECTION 7.4 Enforcement of Agreement; Specific Performance. The Stockholders agree
and acknowledge that Parent and Sub would suffer irreparable damage in the event that any of the
obligations of the Stockholders in this Agreement were not performed in accordance with its
specific terms or if the Agreement was otherwise breached by the Stockholders. It is accordingly
agreed by the Stockholders that Parent shall be entitled to an injunction or injunctions to prevent
breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement,
this being in addition to any other remedy to which Parent may be entitled at law or in equity.
SECTION 7.5 Notices. Except for notices that are specifically required to be
delivered orally, all notices, requests, claims, demands and other communications hereunder shall
be in writing and shall be deemed given (a) on the date of delivery, if delivered in person or by
facsimile or e-mail (upon confirmation of receipt), (b) on the first Business Day following the
date of dispatch, if delivered by a recognized overnight courier service (upon proof of delivery)
or (c) on the fifth Business Day following the date of mailing, if delivered by registered or
certified mail, postage prepaid, return receipt requested, addressed as follows:
(a) If to the Parent or Sub, addressed to it at:
Celgene Corporation
00 Xxxxxx Xxxxxx
Xxxxxx, Xxx Xxxxxx 00000
Tel: 000.000.0000
00 Xxxxxx Xxxxxx
Xxxxxx, Xxx Xxxxxx 00000
Tel: 000.000.0000
Fax: 000.000.0000
Attention: | Xxxxxx Xxxxxxxxxx, Senior Vice President Business
Development xxxxxxxxxxx@xxxxxxx.xxx |
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with copies to:
Celgene Corporation
00 Xxxxxx Xxxxxx
Xxxxxx, Xxx Xxxxxx 00000
Tel: 000.000.0000
Fax: 000.000.0000
00 Xxxxxx Xxxxxx
Xxxxxx, Xxx Xxxxxx 00000
Tel: 000.000.0000
Fax: 000.000.0000
Attention: | Xxxxxx Xxxxxx, Corporate Counsel | |||
xxxxxxx@xxxxxxx.xxx |
and a copy (which shall not constitute notice) to:
Xxxxx Day
0000 Xxxxxxxxx Xxxxx
Xxxxx 000
Xxxxxx, XX 00000
Tel: 000.000.0000
Fax: 000.000.0000
0000 Xxxxxxxxx Xxxxx
Xxxxx 000
Xxxxxx, XX 00000
Tel: 000.000.0000
Fax: 000.000.0000
Attention: | Xxxx X. Xxxxxx, Esq. | |||
xxxxxxx@xxxxxxxx.xxx | ||||
Xxxxx Xxxxxxxx, Esq. | ||||
xxxxxxxxxx@xxxxxxxx.xxx |
(b) If to the Stockholders, addressed to them at:
Abraxis BioScience Inc.
00000 Xxxxxxxx Xxxx., 00xx Xxxxx
Xxx Xxxxxxx, XX 00000
Tel: 000.000.0000
Fax: 000.000.0000
00000 Xxxxxxxx Xxxx., 00xx Xxxxx
Xxx Xxxxxxx, XX 00000
Tel: 000.000.0000
Fax: 000.000.0000
Attention: | Xx. Xxxxxxx Soon-Shiong, Executive
Chairman xxx@xxxxxxxxxx.xxx |
with copies to:
Abraxis BioScience Inc.
00000 Xxxxxxxx Xxxx., 00xx Xxxxx
Xxx Xxxxxxx, XX 00000
Tel: 000.000.0000
Fax: 000.000.0000
00000 Xxxxxxxx Xxxx., 00xx Xxxxx
Xxx Xxxxxxx, XX 00000
Tel: 000.000.0000
Fax: 000.000.0000
Attention: | Xxxxxxx Xxx, General Counsel | |||
XXxx@xxxxxxxxxx.xxx |
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and a copy (which shall not constitute notice) to:
Fried, Frank, Harris, Xxxxxxx & Xxxxxxxx LLP
Xxx Xxx Xxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Tel: 000.000.0000
Fax: 000.000.0000
Xxx Xxx Xxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Tel: 000.000.0000
Fax: 000.000.0000
Attention: | Xxxxxx Xxxxxxx, Esq. | |||
xxxxxx.xxxxxxx@xxxxxxxxxx.xxx | ||||
Xxxxx Xxxxxxx, Esq. | ||||
xxxxx.xxxxxxx@xxxxxxxxxx.xxx |
or to that other address as any party shall specify by written notice so given, and notice shall be
deemed to have been delivered as of the date so telecommunicated or personally delivered.
SECTION 7.6 Headings; Titles. Headings and titles of the Articles and Sections of
this Agreement are for the convenience of the parties only, and shall be given no substantive or
interpretative effect whatsoever.
SECTION 7.7 Severability. Any term or provision of this Agreement which is invalid or
unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of
this invalidity or unenforceability without rendering invalid or unenforceable the remaining terms
and provisions of this Agreement or affecting the validity or enforceability of any of the terms or
provisions of this Agreement in any other jurisdiction. Upon determination that any term or other
provision is invalid or incapable of being enforced, the parties shall negotiate in good faith to
modify this Agreement as to effect the original intent of the parties as closely as possible in an
acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent
possible.
SECTION 7.8 Entire Agreement. This Agreement (together with the Merger Agreement, to
the extent referred to in this Agreement) and any documents delivered by the parties in connection
herewith constitutes the entire agreement among the parties with respect to the subject matter of
this Agreement and supersedes all prior agreements and understandings among the parties with
respect thereto. No addition to or modification of any provision of this Agreement shall be
binding upon any party unless made in writing and signed by all parties.
SECTION 7.9 Assignment; Binding Effect; No Third Party Beneficiaries; Further Action.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned
by any of the parties. This Agreement shall be binding upon and shall inure to the benefit of
Parent and Sub and their respective successors and assigns and shall be binding upon the
Stockholders and the Stockholders’ successors, assigns, heirs, executors and administrators.
Notwithstanding anything contained in this Agreement to the contrary, nothing in this Agreement,
expressed or implied, is intended
to confer on any Person (other than, in the case of Parent and Sub, their respective
successors and assigns and, in the case of the Stockholders, the Stockholders’ successors, assigns,
heirs, executors and administrators) any rights, remedies, obligations or liabilities under or by
reason of this Agreement. The Stockholders shall take any further action and execute any other
instruments as may be reasonably requested by Parent to effectuate the intent of this Agreement.
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SECTION 7.10 Mutual Drafting. Each party has participated in the drafting of this
Agreement, which each party acknowledges is the result of extensive negotiations between the
parties. This Agreement shall not be deemed to have been prepared or drafted by any one party or
another or any party’s attorneys.
SECTION 7.11 Governing Law and Consent to Jurisdiction. This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware, without regard to
its rules of conflict of laws. The Stockholders hereby irrevocably and unconditionally consent to
submit to the jurisdiction of the federal courts located in the State of Delaware or any Delaware
state courts (and, if appropriate, appellate courts therefrom) in connection with any action or
proceeding arising out of or relating to this Agreement and the transactions contemplated hereby
(and agree not to commence any suit, action or proceeding relating thereto except in those courts),
waive any defense or objection they may have or hereafter have relating to the laying of venue of
any suit, action or proceeding in any such courts and agree not to plead or claim that any suit,
action or proceeding brought therein has been brought in an inconvenient forum.
SECTION 7.12 Counterparts; Facsimiles. This Agreement may be executed by the parties
in separate counterparts, each of which when so executed and delivered shall be an original, but
all counterparts shall together constitute one and the same instrument. Each counterpart may
consist of a number of copies each signed by less than all, but together signed by all of the
parties. This Agreement or any counterpart may be executed and delivered by facsimile copies, each
of which shall be deemed an original.
(Signature page follows.)
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IN WITNESS WHEREOF, Parent, Sub and the Stockholders have caused this Agreement to be duly
executed as of the day and year first above written.
CELGENE CORPORATION |
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By: | /s/ Xxxxxx X. Hugin | |||
Name: | Xxxxxx X. Hugin | |||
Title: | Chief Executive Officer | |||
ARTISTRY ACQUISITION CORP. |
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By: | /s/ Xxxxxxx Xxxxxxx | |||
Name: | Xxxxxxx Xxxxxxx | |||
Title: | Secretary and Treasurer | |||
STOCKHOLDERS: XX. XXXXXXX SOON-SHIONG |
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/s/ Xx. Xxxxxxx Soon-Shiong | ||||
CALIFORNIA CAPITAL LP |
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By: | Themba LLC, its general partner | |||
By: | /s/ Xxxxxx X. Xxxxxx | |||
Name: | Xxxxxx X. Xxxxxx | |||
Title: | Manager | |||
XXXXXXX SOON-SHIONG 2009 GRAT 1 |
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By: | /s/ Xxxxxxx Soon-Shiong | |||
Name: | Xxxxxxx Soon-Shiong | |||
Title: | Trustee |
[Signature Page to Voting Agreement]
XXXXXXX SOON-SHIONG 2009 GRAT 2 |
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By: | /s/ Xxxxxxx Soon-Shiong | |||
Name: | Xxxxxxx Soon-Shiong | |||
Title: | Trustee | |||
XXXXXXX X. SOON-SHIONG GRAT 1 |
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By: | /s/ Xxxxxxx X. Xxxx Soon-Shiong | |||
Name: | Xxxxxxx X. Xxxx Soon-Shiong | |||
Title: | Trustee | |||
XXXXXXX X. SOON-SHIONG GRAT 2 |
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By: | /s/ Xxxxxxx X. Xxxx Soon-Shiong | |||
Name: | Xxxxxxx X. Xxxx Soon-Shiong | |||
Title: | Trustee | |||
SOON-SHIONG COMMUNITY PROPERTY REVOCABLE TRUST |
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By: | /s/ Xxxxxxx Soon-Shiong | |||
Name: | Xxxxxxx Soon-Shiong | |||
Title: | Trustee | |||
By: | /s/ Xxxxxxx X. Xxxx Soon-Shiong | |||
Name: | Xxxxxxx X. Xxxx Soon-Shiong | |||
Title: | Trustee |
[Signature Page to Voting Agreement]
THE CHAN SOON-SHIONG FAMILY FOUNDATION |
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By: | /s/ X. Xxxxxxxxx | |||
Name: | X. Xxxxxxxxx | |||
Title: | SVP |
[Signature Page to Voting Agreement]
CALIFORNIA CAPITAL TRUST |
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By: | /s/ Xxxxxxx Soon-Shiong | |||
Name: | Xxxxxxx Soon-Shiong | |||
Title: | Trustee | |||
By: | /s/ Xxxxxxx X. Xxxx Soon-Shiong | |||
Name: | Xxxxxxx X. Xxxx Soon-Shiong | |||
Title: | Trustee | |||
By: | /s/ Xxxxxx X. Xxxxxx | |||
Name: | Xxxxxx X. Xxxxxx | |||
Title: | Trustee |
I acknowledge that I have read the Voting Agreement, dated as of June 30, 2010, among by and among
Celgene Corporation, a Delaware corporation, Artistry Acquisition Corp., a Delaware corporation,
and the other parties thereto, and understand its contents. I am aware that by its provisions all
or part of the shares of common stock, par value $.001 per share, of Abraxis BioScience, Inc., a
Delaware corporation, held by my spouse, Xx. Xxxxxxx Soon-Shiong, including my community interest
in such shares, if any, are subject to the provisions of such agreement.
XXXXXXX X. XXXX SOON-SHIONG |
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/s/ Xxxxxxx X. Xxxx Soon-Shiong |
[Signature Page to Voting Agreement]
SCHEDULE A
STOCKHOLDERS
Stockholder | Owned Shares | Company Options | Company RSUs | |||||||||
Xx. Xxxxxxx Soon-Shiong |
183,635 | 1 | 206,204 | |||||||||
Dr. Soon-Shiong may be deemed
the beneficial owner |
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California Capital LP |
7,987,159 | |||||||||||
Xxxxxxx Soon-Shiong 2009 GRAT 1 |
5,759,109 | |||||||||||
Xxxxxxx Soon-Shiong 2009 GRAT 2 |
5,759,109 | |||||||||||
Xxxxxxx X. Soon-Shiong GRAT 1 |
5,759,109 | |||||||||||
Xxxxxxx X. Soon-Shiong GRAT 2 |
5,759,110 | |||||||||||
Soon-Shiong
Community Property Revocable Trust |
716,916 | |||||||||||
California Capital Trust |
144,555 | |||||||||||
The Chan
Soon-Shiong Family Foundation |
1,301,000 | |||||||||||
Total: |
33,186,067 | 183,635 | 206,204 | |||||||||
1 | Includes 29,545 vested and 154,090 unvested Company
Options as of the date hereof. |