Loan Agreement Between Baker Brothers Life Sciences, L.P., 667, L.P. and Baker Bros. Advisors LP
Exhibit 99.1
Loan Agreement Between Xxxxx Brothers Life Sciences, L.P., 667, L.P. and Xxxxx Bros. Advisors LP
For value received, Xxxxx Bros Advisors LP (the “Management Company”) promises to pay Xxxxx Brothers Life Sciences, L.P. and 667, L.P., (collectively “The Funds”), the amounts set forth in Schedule A below, payable on the Due Date (as defined below) with interest payable through the Due Date (as defined below) at a rate of 3.74% annually.
The Funds are lending the Management Company these amounts so that Xxxxxx Xxxxx, as agent of the Management Company, may exercise 20,000 Incyte Corporation (“INCY”) Director’s Non-qualified Stock Options at $22.74 per share (the “Shares”) and deposit the Shares into Xxxxxx Xxxxx’x brokerage account held at JPMorgan.
The “Due Date” shall be March 13, 2053, however, following the sale by Xxxxxx Xxxxx of all of the Shares, the Due Date shall accelerate to the date that is 10 days after date of the last sale of Shares.
This Loan Agreement shall be construed in accordance with the laws of the State of New York.
Xxxxx Bros. Advisors LP
| /s/ Xxxxxxxxx X. Xxxxxx | |
| /s/ Xxxxxxxxx X. Xxxxxx | |
| By: Xxxxxxxxx X. Xxxxxx, Chief Financial Officer |
667, L.P.
By: Xxxxx Bros. Advisors LP, management company and investment adviser to 667, L.P., pursuant to authority granted to it by Xxxxx Biotech Capital, L.P., general partner to 667, L.P., and not as the general partner.
| /s/ Xxxxx X. Xxxxxxx | |
| Xxxxx Xxxxxxx | |
| President |
| 1 |
XXXXX BROTHERS LIFE SCIENCES, L.P.
By: XXXXX BROS. ADVISORS LP, , management company and investment adviser to Xxxxx Brothers Life Sciences, L.P., pursuant to authority granted to it by Xxxxx Brothers Life Sciences Capital, L.P., general partner to Xxxxx Brothers Life Sciences, L.P., and not as the general partner.
| /s/ Xxxxx X. Xxxxxxx | |
| Xxxxx Xxxxxxx | |
| President |
| 2 |
Schedule A
| Fund | 667, X.X. | Xxxxx Brothers Life Sciences, L.P. | Total | |||||||||
| Loan | $ | 34,594 | $ | 420,206 | $ | 454,800 | ||||||
| 3 |
