Exhibit 3
VOTING AGREEMENT
This Voting Agreement (this "AGREEMENT") is made and entered into as of
April 16, 2004, by and between the stockholders set forth on the signature pages
hereto (each a "STOCKHOLDER" and collectively, the "STOCKHOLDERS") and SeraCare
Life Sciences, Inc., a California corporation ("BUYER").
RECITALS
WHEREAS, Buyer and Boston Biomedica, Inc., a Massachusetts corporation
("PARENT") are parties to that certain Asset Purchase Agreement dated as of
April 16, 2004 (the "PURCHASE AGREEMENT") by and among Buyer, Parent and BBI
Biotech Research Laboratories, Inc., a Massachusetts corporation. In order to
induce Buyer to enter into the Purchase Agreement, the Stockholders have entered
into this Agreement with Buyer. Each Stockholder is the beneficial owner (as
defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the
"EXCHANGE ACT")) of such number of shares of the outstanding Common Stock, $0.01
par value per share, of Parent as is indicated on the final page of this
Agreement (the "SHARES").
AGREEMENT
NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:
1. AGREEMENT TO RETAIN SHARES.
(a) TRANSFER AND ENCUMBRANCE. Each Stockholder agrees not to (i)
transfer (which term shall include, without limitation, any sale, exchange,
assignment, gift, pledge, hypothecation or other disposition), or consent to any
transfer of, any or all of the Shares or any New Shares (as such term is defined
in Section 1(b)) or any interest therein, or otherwise dispose of or create or
permit to exist any lien on such shares; (ii) enter into any contract, option or
other agreement or understanding with respect to any transfer of any or all of
such shares or any interest therein; (iii) grant any proxy, power-of-attorney or
other authorization in or with respect to such shares; (iv) deposit such shares
into a voting trust or enter into a voting agreement or arrangement with respect
to such shares; or (v) take any other action that would in any way restrict,
limit or interfere with the performance of such Stockholder's obligations
hereunder or the transactions contemplated hereby or by the Purchase Agreement,
at any time prior to the Expiration Date. As used herein, the term "EXPIRATION
DATE" shall mean the earlier to occur of (i) the Closing (as such term is
defined in the Purchase Agreement), or (ii) the date of termination of the
Purchase Agreement.
(b) NEW SHARES. Each Stockholder agrees that any shares of capital
stock of Parent that such Stockholder purchases or with respect to which such
Stockholder otherwise acquires beneficial ownership after the date of this
Agreement and prior to the Expiration Date ("NEW SHARES") shall be subject to
the terms and conditions of this Agreement to the same extent as if they
constituted Shares.
1
2. AGREEMENT TO VOTE SHARES. Prior to the Expiration Date, at every
meeting of the stockholders of Parent called with respect to any of the
following, and at every adjournment thereof, and on every action or approval by
written consent of the stockholders of Parent with respect to any of the
following, each Stockholder shall vote the Shares and any New Shares (to the
extent such New Shares have voting rights) (i) in favor of approval of the
Purchase Agreement and any matter necessary to facilitate the consummation of
the Purchase Agreement and all transactions contemplated thereby, and (ii)
against any Acquisition Proposal (as such term is defined in the Purchase
Agreement), or any other action or agreement that would result in a breach of
any covenant, representation or warranty or any other obligation or agreement of
Parent under the Purchase Agreement or which could reasonably be expected to
result in any of the conditions to Parent's obligations under the Purchase
Agreement not being fulfilled; provided, however, that such Stockholder shall
not be required to vote the Shares and any New Shares in favor of approval of
the matters identified in clause (i) or against the matters identified in clause
(ii) of this Section 2 if (A) a Superior Offer (as such term is defined in the
Purchase Agreement) is made after the date of this Agreement, and (B) in
response to such Superior Offer the Board of Directors of Parent withholds,
withdraws, amends or modifies its recommendation in favor of the Stockholder
Approval Matters (as such term is defined in the Purchase Agreement) in a manner
materially adverse to Buyer because the Board of Directors of Parent has
reasonably concluded in good faith, after consultation with its outside counsel,
that the failure to withhold, withdraw, amend or modify such recommendation
would violate its fiduciary obligations under applicable law.
3. IRREVOCABLE PROXY; POWER OF ATTORNEY. Without limiting the generality
of the foregoing, each Stockholder hereby irrevocably constitutes and appoints
Buyer or its designee as its attorney and proxy, with full power of substitution
and re-substitution to vote such Stockholder's Shares and any New Shares (to the
extent such New Shares have voting rights) for and in the name, place and stead
of such Stockholder at any meeting and at any adjournment thereof, or pursuant
to any written consent of stockholders of Parent, in accordance with the
agreements set forth in Section 2 hereof. Subject to the provisions of Section 8
below, this proxy and power of attorney is irrevocable (at all times prior to
the Expiration Date) and coupled with an interest. Each Stockholder hereby
revokes all other proxies and power of attorney with respect to the Shares
and/or any New Shares that it may have heretofore appointed or granted, and no
subsequent proxy or power of attorney shall be granted (and if granted, shall
not be effective) by such Stockholder with respect thereto. Concurrently with
the execution of this Agreement, each Stockholder agrees to deliver to Buyer a
proxy (the form of which is attached hereto as SCHEDULE 1, the "PROXY"),
covering the total number of Shares and New Shares beneficially owned or as to
which beneficial ownership is acquired (as such term is defined in Rule 13d-3
under the Exchange Act) by such Stockholder.
4. NO SOLICITATION.
(a) NO SOLICITATION OR NEGOTIATION. Except as set forth in this
Section 4, prior to the Expiration Date, none of the Stockholders shall,
directly or indirectly:
(i) solicit, initiate, encourage or induce the making,
submission or announcement of any Acquisition Proposal;
2
(ii) participate in any discussions or negotiations
regarding, or furnish to any person any non-public information with respect to,
or take any other action to facilitate any inquiries or the making of any
proposal that constitutes or may reasonably be expected to lead to, any
Acquisition Proposal;
(iii) engage in discussions with any person with respect to
any Acquisition Proposal;
(iv) approve, endorse or recommend any Acquisition Proposal;
or
(v) enter into any letter of intent or similar document or
any contract, agreement or commitment contemplating or otherwise relating to any
Acquisition Transaction (as defined in the Purchase Agreement); provided,
however, that a Stockholder may, solely in the Stockholder's capacity as a
Representative (as such term is defined in the Purchase Agreement) of Parent,
take such actions as may be permitted under Section 6.2(a) of the Purchase
Agreement, but only if the conditions set forth in Section 6.2(a) for such
actions have been satisfied.
(b) NOTICES; ADDITIONAL NEGOTIATIONS. In addition to the
obligations of the Stockholders set forth in paragraph (a) of this Section 4,
prior to the Expiration Date, each Stockholder shall advise Buyer orally and in
writing within 24 hours of the receipt thereof, of any request received by such
Stockholder for nonpublic information which such Stockholder reasonably believes
would lead to an Acquisition Proposal or of any Acquisition Proposal, or any
inquiry received by such Stockholder with respect to, or which such Stockholder
reasonably believes would lead to any Acquisition Proposal, the material terms
and conditions of such request, Acquisition Proposal or inquiry, and the
identity of the person or group making any such request, Acquisition Proposal or
inquiry. Each Stockholder will keep Buyer informed (orally and in writing) on a
current basis and in all material respects of the status and details (including
material amendments or proposed amendments) of any such request, Acquisition
Proposal or inquiry.
(c) CESSATION OF ONGOING DISCUSSIONS. Each Stockholder shall cease
immediately any and all existing activities, discussions or negotiations with
any parties conducted heretofore with respect to any Acquisition Proposal.
(d) Notwithstanding anything to the contrary stated herein, this
Section 4 shall not apply to any of the Stockholders in their respective
capacity as either an officer or director of Parent and any actions undertaken
or omissions by a Stockholder in any such capacity shall be governed exclusively
by the Purchase Agreement.
5. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE STOCKHOLDER. Each
Stockholder hereby represents, warrants and covenants to Buyer that (i) such
Stockholder is the beneficial owner of the Shares, which at the date of this
Agreement and at all times up until the Expiration Date will be free and clear
of any liens, claims, options, charges or other encumbrances (except pursuant to
marital property laws) that would interfere with the voting of the Shares in
accordance with this Agreement or the granting of any proxy with respect
thereto; (ii) such Stockholder does not beneficially own any shares of capital
stock of Parent other than
3
the Shares; (iii) such Stockholder has full power and authority to make, enter
into and carry out the terms of this Agreement and the Proxy; and (iv) the
execution and delivery of this Agreement by such Stockholder and the
consummation by such Stockholder of the transactions contemplated hereby have
been duly authorized by all necessary action, if any, on the part of such
Stockholder.
6. ADDITIONAL DOCUMENTS. Each Stockholder hereby covenants and agrees to
execute and deliver any additional documents necessary or desirable to carry out
the purpose and intent of this Agreement.
7. CONSENT AND WAIVER. Each Stockholder hereby gives any consents or
waivers that are reasonably required for the consummation of the Purchase
Agreement under the terms of any agreement to which such Stockholder is a party
or pursuant to any rights such Stockholder may have.
8. TERMINATION. This Agreement and each of the Proxies delivered in
connection herewith shall terminate and shall have no further force or effect as
of the Expiration Date; provided, however, that no such termination of this
Agreement or the Proxies shall relieve the Stockholders from any liability for
any breach of this Agreement or the Proxies prior to their respective
termination. Notwithstanding any other provision of this Agreement, the
Stockholders, acting unanimously, may terminate this Agreement and any Proxy and
be released from all obligations to vote their respective Shares, in accordance
with the provisions of this Agreement or to have their respective Shares voted
in accordance with any Proxy in the event the Purchase Agreement is materially
amended or modified. For purposes of this Section 8, an extension of the
terminate date set forth in Section 11.1(b) of the Purchase Agreement shall not
be deemed to be a material amendment or modification of the Purchase Agreement.
9. MISCELLANEOUS.
(a) AMENDMENTS AND WAIVERS. Any term of this Agreement may be
amended or waived with the written consent of the parties or their respective
successors and assigns. Any amendment or waiver effected in accordance with this
Section 9(a) shall be binding upon the parties and their respective successors
and assigns.
(b) GOVERNING LAW. This Agreement and all acts and transactions
pursuant hereto and the rights and obligations of the parties hereto shall be
governed, construed and interpreted in accordance with the laws of the
Commonwealth of Massachusetts, without giving effect to principles of conflicts
of law. Each of the parties to this Agreement consents to the exclusive
jurisdiction and venue of the state and federal courts located in or for the
State of Delaware in connection with any matter based upon or arising out of
this Agreement or the matters contemplated herein, agrees that process may be
served upon it in any manner authorized by the laws of the State of Delaware for
such persons and waives and covenants not to assert or plead any objection which
it might otherwise have to such jurisdiction and such process.
(c) COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument.
4
(d) TITLES AND SUBTITLES. The headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.
(e) NOTICES. All notices, requests, demands and other
communications which are required or may be given under this Agreement shall be
in writing and shall be deemed to have been duly given when received if
personally delivered; when transmitted if transmitted by telecopy, electronic or
digital transmission method; the day after it is sent, if sent for next day
delivery to a domestic address by recognized overnight delivery service (E.G.,
Federal Express); and upon receipt, if sent by certified or registered mail,
return receipt requested. In each case notice shall be sent to:
If to Buyer, addressed to:
SeraCare Life Science, Inc.
0000 Xxxxxxx xxx Xxx, Xxxxx X
Xxxxxxxxx, XX 00000
Attention: President
Facsimile: (000) 000-0000
With a copy to:
O'Melveny & Xxxxx LLP
000 Xxxxxxx, Xxxxx 000
Xxxxxx, XX 00000-0000
Attention: Xxxxx X. Xxxxxx, Esq.
Facsimile: (000) 000-0000
If to a Stockholder, to the address for such Stockholder set forth on
the signature page hereto.
or to such other place and with such other copies as any party may designate as
to itself by written notice to the others.
(f) SEVERABILITY. If one or more provisions of this Agreement are
held to be unenforceable under applicable law, the parties agree to renegotiate
such provision in good faith, in order to maintain the position enjoyed by each
party as close as possible to that under the provision rendered unenforceable.
In the event that the parties cannot reach a mutually agreeable and enforceable
replacement for such provision, then (i) such provision shall be excluded from
this Agreement, (ii) the balance of this Agreement shall be interpreted as if
such provision were so excluded and (iii) the balance of this Agreement shall be
enforceable in accordance with its terms.
(g) ASSIGNMENT. This Agreement and all of the terms and provisions
hereof shall be binding upon, and inure to the benefit of, the parties hereto
and their respective successors and permitted assigns, but, except as otherwise
specifically provided herein, neither this Agreement nor any of the rights,
interests or obligations of either party may be assigned
5
without the prior written consent of the other party (any such attempted
assignment shall be void).
(h) REMEDIES. Each Stockholder acknowledges that if such
Stockholder fails to perform any of its covenants, agreements or obligations
under this Agreement immediate and irreparable harm or injury would be caused to
Buyer for which money damages would not be an adequate remedy. In such event,
each Stockholder agrees that Buyer shall have the right, in addition to any
other rights it may have, to specific performance of this Agreement.
Accordingly, if Buyer should institute an action or proceeding seeking specific
enforcement of the provisions hereof, each Stockholder hereby waives the claim
or defense that Buyer has an adequate remedy at law and hereby agrees not to
assert in any such action or proceeding the claim or defense that such a remedy
at law exists. Each Stockholder further agrees to waive any requirements for the
securing or posting of any bond in connection with obtaining any such equitable
relief. Except as otherwise provided herein, any and all remedies herein
expressly conferred upon a party will be deemed cumulative with and not
exclusive of any other remedy conferred hereby, or by law or equity upon such
party, and the exercise by a party of any one remedy will not preclude the
exercise of any other remedy.
[SIGNATURE PAGE TO FOLLOW]
6
IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed as of the date first above written.
SERACARE LIFE SCIENCES, INC.,
a California corporation
By: /s/ Xxxxxxx X. Xxxxxxx XX
-------------------------
Name: Xxxxxxx X. Xxxxxxx XX
Title: CEO
Address: 0000 Xxxxxxx xxx Xxx, Xxxxx X
Xxxxxxxxx, XX 00000
Attention: President
Facsimile No.: (000) 000-0000
STOCKHOLDER
By: /s/ Xxxxxxx X. Xxxxxxx
----------------------
Name: Xxxxxxx X. Xxxxxxx
Title: --
Address:
000 Xxx Xxxxxx
Xxxxxxxx, XX 00000
Shares beneficially owned:
Class of Shares Number
--------------- ------
Common Stock................ 1,542,985
STOCKHOLDER
Shoreline Micro-Cap Fund I LP
By: /s/ Xxxxxxx X. Xxxxxxx
----------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Partner
Address:
c/o Xxxxxxx Xxxxx & Co.
(Xxxxxxx X. Xxxxxxx)
000 X. Xxxxx Xxxxxx
Xxxxxxx, XX 00000
Shares beneficially owned:
Class of Shares Number
--------------- ------
Common Stock.................. 365,613
S-1
STOCKHOLDERS
By: /s/ Xxxxxxx X. Xxxxxxx
----------------------
Name: Xxxxxxx X. Xxxxxxx
Title: --
Address:
000 Xxx Xxxxxx
Xxxxxxxx, XX 00000
Shares beneficially owned:
Class of Shares Number
--------------- ------
Common Stock.................. 90,000
S-2
SCHEDULE 1
IRREVOCABLE PROXY TO VOTE STOCK OF PARENT
The undersigned stockholder of Boston Biomedica, Inc., a Massachusetts
corporation ("PARENT"), hereby irrevocably appoints the Chief Executive Officer
and Chief Financial Officer from time to time (currently Xxxxxxx Xxxxxxx, Jr.
and Xxx Xxxx, respectively) of SeraCare Life Sciences, Inc., a California
corporation ("BUYER"), and each of them, as the sole and exclusive attorneys and
proxies of the undersigned, with full power of substitution and resubstitution,
to vote and exercise all voting and related rights (to the full extent that the
undersigned is entitled to do so) with respect to all of the shares of capital
stock of Parent that now are or hereafter may be beneficially owned by the
undersigned, and any and all other shares or securities of Parent issued or
issuable in respect thereof on or after the date hereof (collectively, the
"SHARES") in accordance with the terms of this Proxy. The Shares beneficially
owned by the undersigned stockholder of Parent as of the date of this Proxy are
listed on the final page of this Proxy. Upon the undersigned's execution of this
Proxy, any and all prior proxies given by the undersigned with respect to any
Shares are hereby revoked and the undersigned agrees not to grant any subsequent
proxies with respect to the Shares and this subject matter until after the
Expiration Date (as defined below).
This Proxy is irrevocable, is granted pursuant to that certain
Voting
Agreement of even date herewith, by and between Buyer and the undersigned
stockholder, among others (the "
VOTING AGREEMENT"), and is granted in
consideration of Buyer entering into that certain Asset Purchase Agreement, of
even date herewith, by and among Parent, Buyer and BBI Biotech Research
Laboratories, Inc., a Massachusetts corporation (the "PURCHASE Agreement"). This
Proxy shall terminate on the Expiration Date (as such term is defined in the
Voting Agreement). Notwithstanding any other provision of this Proxy, the
undersigned stockholder may terminate this Proxy and be released from all
obligations to vote his Shares in accordance with the provisions of this Proxy
in the event the
Voting Agreement is terminated pursuant to Section 8 of the
Voting Agreement.
The attorneys and proxies named above, and each of them, are hereby
authorized and empowered by the undersigned, at any time prior to the Expiration
Date, to act as the undersigned's attorney and proxy to vote the Shares, and to
exercise all voting and other rights of the undersigned with respect to the
Shares (including, without limitation, the power to execute and deliver written
consents pursuant to Section 43 of Chapter 156B of the Annotated Laws of
Massachusetts, or such successor provision of the law contained in Chapter 156D
of the Massachusetts Business Corporation Act, which becomes effective on July
1, 2004), at every annual, special or adjourned meeting of the stockholders of
Parent and in every written consent in lieu of such meeting (i) in favor of
approval of the Purchase Agreement and in favor of any matter necessary to
facilitate the Purchase Agreement, and (ii) against any Acquisition Proposal (as
such term is defined in the Purchase Agreement), or any other action or
agreement that would result in a breach of any covenant, representation or
warranty or any other obligation or agreement of Parent under the Purchase
Agreement or which could reasonably be expected to result in any of the
conditions to Parent's obligations under the Purchase Agreement not being
Schedule 1-1
fulfilled; provided, however, that the undersigned shall not be required to vote
the Shares and any New Shares in favor of approval of the matters identified in
clause (i) or against the matters identified in clause (ii) of this paragraph if
(A) a Superior Offer (as such term is defined in the Purchase Agreement) is made
after the date of this Agreement, and (B) in response to such Superior Offer the
Board of Directors of Parent withholds, withdraws, amends or modifies its
recommendation in favor of the Stockholder Approval Matters (as such term is
defined in the Purchase Agreement) in a manner materially adverse to Buyer
because the Board of Directors of Parent has reasonably concluded in good faith,
after consultation with its outside counsel, that the failure to withhold,
withdraw, amend or modify such recommendation would violate its fiduciary
obligations under applicable law. The attorneys and proxies named above may not
exercise this Proxy on any other matter except as provided above. The
undersigned stockholder may vote the Shares on all other matters.
Any obligation of the undersigned hereunder shall be binding upon the
successors and assigns of the undersigned.
[SIGNATURE PAGE TO FOLLOW]
Schedule 1-2
IN WITNESS WHEREOF, the undersigned has caused this Proxy to be executed
as of the date set forth below.
Dated: April 16, 2004
/s/ XXXXXXX X. XXXXXXX
----------------------------------
XXXXXXX XXXXXXX
Shares beneficially owned:
CLASS OF SHARES NUMBER
--------------- ------
Common Stock........ 1,542,985*
* Includes (i) 90,000 shares of Common Stock held of record by Xxxxxxx Xxxxxxx,
(ii) 357,791 shares of Common Stock held of record by Shoreline Micro-Cap Fund I
LP, (iii) warrants to purchase an aggregate of 7,822 shares of Common Stock held
of record by Shoreline Micro-Cap Fund I LP, (iv) warrants to purchase an
aggregate of 27,734 shares of Common Stock held of record by Xxxxxxx Xxxxxxx.
Schedule 1-3
SCHEDULE 1
IRREVOCABLE PROXY TO VOTE STOCK OF PARENT
The undersigned stockholder of Boston Biomedica, Inc., a Massachusetts
corporation ("PARENT"), hereby irrevocably appoints the Chief Executive Officer
and Chief Financial Officer from time to time (currently Xxxxxxx Xxxxxxx, Jr.
and Xxx Xxxx, respectively) of SeraCare Life Sciences, Inc., a California
corporation ("BUYER"), and each of them, as the sole and exclusive attorneys and
proxies of the undersigned, with full power of substitution and resubstitution,
to vote and exercise all voting and related rights (to the full extent that the
undersigned is entitled to do so) with respect to all of the shares of capital
stock of Parent that now are or hereafter may be beneficially owned by the
undersigned, and any and all other shares or securities of Parent issued or
issuable in respect thereof on or after the date hereof (collectively, the
"SHARES") in accordance with the terms of this Proxy. The Shares beneficially
owned by the undersigned stockholder of Parent as of the date of this Proxy are
listed on the final page of this Proxy. Upon the undersigned's execution of this
Proxy, any and all prior proxies given by the undersigned with respect to any
Shares are hereby revoked and the undersigned agrees not to grant any subsequent
proxies with respect to the Shares and this subject matter until after the
Expiration Date (as defined below).
This Proxy is irrevocable, is granted pursuant to that certain
Voting
Agreement of even date herewith, by and between Buyer and the undersigned
stockholder, among others (the "
VOTING AGREEMENT"), and is granted in
consideration of Buyer entering into that certain Asset Purchase Agreement, of
even date herewith, by and among Parent, Buyer and BBI Biotech Research
Laboratories, Inc., a Massachusetts corporation (the "PURCHASE Agreement"). This
Proxy shall terminate on the Expiration Date (as such term is defined in the
Voting Agreement). Notwithstanding any other provision of this Proxy, the
undersigned stockholder may terminate this Proxy and be released from all
obligations to vote its Shares in accordance with the provisions of this Proxy
in the event the Voting Agreement is terminated pursuant to Section 8 of the
Voting Agreement.
The attorneys and proxies named above, and each of them, are hereby
authorized and empowered by the undersigned, at any time prior to the Expiration
Date, to act as the undersigned's attorney and proxy to vote the Shares, and to
exercise all voting and other rights of the undersigned with respect to the
Shares (including, without limitation, the power to execute and deliver written
consents pursuant to Section 43 of Chapter 156B of the Annotated Laws of
Massachusetts, or such successor provision of the law contained in Chapter 156D
of the Massachusetts Business Corporation Act, which becomes effective on July
1, 2004), at every annual, special or adjourned meeting of the stockholders of
Parent and in every written consent in lieu of such meeting (i) in favor of
approval of the Purchase Agreement and in favor of any matter necessary to
facilitate the Purchase Agreement, and (ii) against any Acquisition Proposal (as
such term is defined in the Purchase Agreement), or any other action or
agreement that would result in a breach of any covenant, representation or
warranty or any other obligation or agreement of Parent under the Purchase
Agreement or which could reasonably be expected to result in any of the
conditions to Parent's obligations under the Purchase Agreement not being
Schedule 1-1
fulfilled; provided, however, that the undersigned shall not be required to vote
the Shares and any New Shares in favor of approval of the matters identified in
clause (i) or against the matters identified in clause (ii) of this paragraph if
(A) a Superior Offer (as such term is defined in the Purchase Agreement) is made
after the date of this Agreement, and (B) in response to such Superior Offer the
Board of Directors of Parent withholds, withdraws, amends or modifies its
recommendation in favor of the Stockholder Approval Matters (as such term is
defined in the Purchase Agreement) in a manner materially adverse to Buyer
because the Board of Directors of Parent has reasonably concluded in good faith,
after consultation with its outside counsel, that the failure to withhold,
withdraw, amend or modify such recommendation would violate its fiduciary
obligations under applicable law. The attorneys and proxies named above may not
exercise this Proxy on any other matter except as provided above. The
undersigned stockholder may vote the Shares on all other matters.
Any obligation of the undersigned hereunder shall be binding upon the
successors and assigns of the undersigned.
[SIGNATURE PAGE TO FOLLOW]
Schedule 1-2
IN WITNESS WHEREOF, the undersigned has caused this Proxy to be executed
as of the date set forth below.
Dated: April 16, 2004
SHORELINE MICRO-CAP FUND I LP
By: /s/ XXXXXXX X. XXXXXXX
-------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Partner
Shares beneficially owned:
CLASS OF SHARES NUMBER
--------------- ------
Common Stock......... 365,613*
* Includes warrants to purchase an aggregate of 7,822 shares of Common Stock.
Schedule 1-3
SCHEDULE 1
IRREVOCABLE PROXY TO VOTE STOCK OF PARENT
The undersigned stockholder of Boston Biomedica, Inc., a Massachusetts
corporation ("PARENT"), hereby irrevocably appoints the Chief Executive Officer
and Chief Financial Officer from time to time (currently Xxxxxxx Xxxxxxx, Jr.
and Xxx Xxxx, respectively) of SeraCare Life Sciences, Inc., a California
corporation ("BUYER"), and each of them, as the sole and exclusive attorneys and
proxies of the undersigned, with full power of substitution and resubstitution,
to vote and exercise all voting and related rights (to the full extent that the
undersigned is entitled to do so) with respect to all of the shares of capital
stock of Parent that now are or hereafter may be beneficially owned by the
undersigned, and any and all other shares or securities of Parent issued or
issuable in respect thereof on or after the date hereof (collectively, the
"SHARES") in accordance with the terms of this Proxy. The Shares beneficially
owned by the undersigned stockholder of Parent as of the date of this Proxy are
listed on the final page of this Proxy. Upon the undersigned's execution of this
Proxy, any and all prior proxies given by the undersigned with respect to any
Shares are hereby revoked and the undersigned agrees not to grant any subsequent
proxies with respect to the Shares and this subject matter until after the
Expiration Date (as defined below).
This Proxy is irrevocable, is granted pursuant to that certain Voting
Agreement of even date herewith, by and between Buyer and the undersigned
stockholder, among others (the "VOTING AGREEMENT"), and is granted in
consideration of Buyer entering into that certain Asset Purchase Agreement, of
even date herewith, by and among Parent, Buyer and BBI Biotech Research
Laboratories, Inc., a Massachusetts corporation (the "PURCHASE Agreement"). This
Proxy shall terminate on the Expiration Date (as such term is defined in the
Voting Agreement). Notwithstanding any other provision of this Proxy, the
undersigned stockholder may terminate this Proxy and be released from all
obligations to vote her Shares in accordance with the provisions of this Proxy
in the event the Voting Agreement is terminated pursuant to Section 8 of the
Voting Agreement.
The attorneys and proxies named above, and each of them, are hereby
authorized and empowered by the undersigned, at any time prior to the Expiration
Date, to act as the undersigned's attorney and proxy to vote the Shares, and to
exercise all voting and other rights of the undersigned with respect to the
Shares (including, without limitation, the power to execute and deliver written
consents pursuant to Section 43 of Chapter 156B of the Annotated Laws of
Massachusetts, or such successor provision of the law contained in Chapter 156D
of the Massachusetts Business Corporation Act, which becomes effective on July
1, 2004), at every annual, special or adjourned meeting of the stockholders of
Parent and in every written consent in lieu of such meeting (i) in favor of
approval of the Purchase Agreement and in favor of any matter necessary to
facilitate the Purchase Agreement, and (ii) against any Acquisition Proposal (as
such term is defined in the Purchase Agreement), or any other action or
agreement that would result in a breach of any covenant, representation or
warranty or any other obligation or agreement of Parent under the Purchase
Agreement or which could reasonably be expected to result in any of the
conditions to Parent's obligations under the Purchase Agreement not being
Schedule 1-1
fulfilled; provided, however, that the undersigned shall not be required to vote
the Shares and any New Shares in favor of approval of the matters identified in
clause (i) or against the matters identified in clause (ii) of this paragraph if
(A) a Superior Offer (as such term is defined in the Purchase Agreement) is made
after the date of this Agreement, and (B) in response to such Superior Offer the
Board of Directors of Parent withholds, withdraws, amends or modifies its
recommendation in favor of the Stockholder Approval Matters (as such term is
defined in the Purchase Agreement) in a manner materially adverse to Buyer
because the Board of Directors of Parent has reasonably concluded in good faith,
after consultation with its outside counsel, that the failure to withhold,
withdraw, amend or modify such recommendation would violate its fiduciary
obligations under applicable law. The attorneys and proxies named above may not
exercise this Proxy on any other matter except as provided above. The
undersigned stockholder may vote the Shares on all other matters.
Any obligation of the undersigned hereunder shall be binding upon the
successors and assigns of the undersigned.
[SIGNATURE PAGE TO FOLLOW]
Schedule 1-2
IN WITNESS WHEREOF, the undersigned has caused this Proxy to be executed
as of the date set forth below.
Dated: April 16, 2004
/s/ XXXXXXX X. XXXXXXX
------------------------------------
XXXXXXX XXXXXXX
Shares beneficially owned:
CLASS OF SHARES NUMBER
--------------- ------
Common Stock..... 90,000
Schedule 1-3
