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Exhibit 10.21
SUPPLEMENTAL AGREEMENT
TO
AMENDMENT TO STOCK PURCHASE AGREEMENT
AND
FIRST AMENDMENT TO, AND WAIVER OF CERTAIN TERMS OF,
STOCKHOLDERS' AGREEMENT
THIS SUPPLEMENTAL AGREEMENT (this "Supplemental Agreement") is
entered into on this 9th day of March, 1998 by and among Medscape, Inc. (the
"Company"), the Series C Stockholders of the Company (collectively, the "Series
C Stockholders") and Xxxxxxxxxxx/Xxxxxx Information Partners I, L.P. ("BTIP").
WHEREAS, the Company and the Series C Stockholders entered into a
Stock Purchase Agreement ("Stock Purchase Agreement") and a Stockholders'
Agreement ("Stockholders' Agreement"), each dated as of October 31, 1997;
WHEREAS, the Company and the Series C Stockholders have recently
acted to permit BTIP to purchase 699,301 Acquired Preferred Shares for an
aggregate purchase price of $3,000,000 on substantially the same terms and
conditions as contained in the Stock Purchase Agreement (the "BTIP Sale"), and
in furtherance thereof executed a certain Amendment to the Stock Purchase
Agreement dated February 19, 1998 ("Stock Purchase Amendment") and a certain
First Amendment to, and Waiver of Certain Provisions of, the Stockholders'
Agreement dated February 19, 1998 ("First Stockholders' Amendment");
WHEREAS, the Company has received a written offer from Media
Technology Ventures, L.P. and Media Technology Ventures Entrepreneurs Fund,
L.P., both of which are Series C Stockholders (collectively, "MTV"), to
purchase, in the aggregate, an additional 233,100 Acquired Preferred Shares for
an aggregate purchase price of $1,000,000, or $4.29 per share, on substantially
the same terms and conditions as set forth in the Stock Purchase Agreement as
though acquired as of October 31, 1997 (the "MTV Sale");
WHEREAS, the Company, the Series C Stockholders and BTIP desire to
effect the MTV Sale as though the terms and conditions thereof were contemplated
by, and approved pursuant to, the Stock Purchase Amendment and the First
Stockholders' Amendment; and
WHEREAS, it is necessary to amend the Stock Purchase Amendment and
the First Stockholders' Amendment to reflect the aforesaid agreements.
NOW, THEREFORE, for good and valuable consideration, the parties
hereto agree as follows:
SECTION 1. Definitions. Capitalized terms used but not defined
herein shall have the meanings set forth in the Stock Purchase Agreement, as
amended.
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SECTION 2. Amendments.
(a) The Stock Purchase Amendment and the First Stockholders'
Amendment are each hereby amended, respectively, to include therein the terms
and conditions of the MTV Sale as though consummated as of October 31, 1997, and
any and all actions, amendments, waivers and consents taken, made or rendered
thereby are, to the extent necessary in order to permit the consummation of the
MTV Sale, hereby amended to encompass and effectuate the MTV Sale, including,
specifically, and without limitation, (i) the waiver by each Series C
Stockholder of its rights of first offer under Section 3 of the Stockholders'
Agreement with respect to the MTV Sale, and (ii) the agreement by each Series C
Stockholder, solely for purposes of consummating the MTV Sale, to omit from
Section 10 of the Stock Purchase Agreement the phrase "within ninety (90) days
after the date of the Closing."
(b) Schedule A of the Stock Purchase Agreement is hereby
amended and restated in its entirety as Schedule A hereto, and Schedule 6.3 of
the Stock Purchase Agreement is hereby amended and restated in its entirety as
Schedule 6.3 hereto.
(c) Upon (i) MTV's payment to the Company of the aggregate
purchase price of $1,000,000 for an aggregate of 233,100 Acquired Preferred
Shares, and (ii) MTV's execution of the Addendum Signature Page to the Stock
Purchase Agreement, attached hereto as Schedule B, the Addendum Signature Page
shall be made part of the Stock Purchase Agreement and the Company shall deliver
to MTV stock certificates for the additional Acquired Preferred Shares purchased
by MTV hereunder.
SECTION 3. Conditions to Effectiveness. This Supplemental Agreement
shall become effective upon the execution hereof by the Company, each of the
Series C Stockholders, MTV and BTIP.
SECTION 4. Severability. Any provision of this Supplemental
Agreement which is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof or
affecting the validity or enforceability of such provision in any other
jurisdiction.
SECTION 5. Captions. The captions in this Supplemental Agreement are
for convenience of reference only and shall not define or limit any of the terms
or provisions hereof.
SECTION 6. Full Force and Effect. Except as amended hereby, the
Stock Purchase Amendment and the First Stockholders' Amendment shall remain in
full force and effect and are hereby ratified, adopted and confirmed in all
respects.
SECTION 7. Governing Law. This Supplemental Agreement shall be
governed and construed in accordance with the laws of the State of New York.
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SECTION 8. Counterparts. This Supplemental Agreement may be executed
in any number of counterparts and by different parties hereto on separate
counterparts, each of which counterparts, when so executed and delivered, shall
be deemed to be an original and all of which counterparts taken together, shall
constitute but one and the same agreement.
[The remainder of this page intentionally left blank]
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IN WITNESS WHEREOF, the parties hereto have executed this
Supplemental Agreement as of the date first set forth above.
MEDSCAPE, INC.
By: /s/ Xxxx X. Xxxxxx
----------------------------
Name: Xxxx X. Xxxxxx
Title: President and CEO
CSK VENTURE CAPITAL CO., LTD., as
investment manager for CSK-1(A)
Investment Fund
By: /s/ Masahiro Aozono
-----------------------------------
Name: Masahiro Aozono
Title: President
CSK VENTURE CAPITAL CO., LTD., as
investment manager for CSK-1(B)
Investment Fund
By: /s/ Masahiro Aozono
-----------------------------------
Name: Masahiro Aozono
Title: President
CSK VENTURE CAPITAL CO., LTD., as
investment manager for CSK-2 Investment
Fund
By: /s/ Masahiro Aozono
-----------------------------------
Name: Masahiro Aozono
Title: President
MEDIA TECHNOLOGY VENTURES,
L.P.
By: /s/ Xxxxx Xxxxxxx
-----------------------------------
Name: Xxxxx Xxxxxxx
Title: General Partner
MEDIA TECHNOLOGY VENTURES
ENTREPRENEURS FUND, L.P.
By: /s/ Xxxxx Xxxxxxx
-----------------------------------
Name: Xxxxx Xxxxxxx
Title: General Partner
XXXXXX XXXXXXXX, XXXXXXX X.
XXXXXXXX, XXXXX X. XXXX, AND
XXXXXXXX X.
XXXXXXXXXXXX TRUSTEES U/A
DATED 9/3/64 F/B/O XXXXXX X.
XXXXXXXX FAMILY
By: /s/ Xxxxxx X. Xxxxxxxx
-----------------------------------
Name: Xxxxxx X. Xxxxxxxx
Title: Trustee
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XXXXXX XXXXXXXX, XXXXXXX X.
XXXXXXXX, XXXX X. XXXX, AND
XXXXXXXX X. XXXXXXXXXXXX
TRUSTEES U/W/D XXXXXXX
X. XXXXXXXX F/B/O XXXXXX X.
XXXXXXXX ARTICLE 9TH
By: /s/ Xxxxxx X. Xxxxxxxx
-----------------------------------
Name: Xxxxxx X. Xxxxxxxx
Title: Trustee
APA EXCELSIOR IV, L.P.
By: APA Excelsior IV Partners, L.P.
its General Partner
By: Patricof & Co. Managers, Inc.
its General Partner
By: /s/ Xxxx Xxxxxxxx
-----------------------------------
Name: Xxxx Xxxxxxxx
Title:
APA EXCELSIOR IV/OFFSHORE, L.P.
By: Patricof & Co. Ventures, Inc.
its Investment Advisor
By: /s/ Xxxx Xxxxxxxx
-----------------------------------
Name: Xxxx Xxxxxxxx
Title:
THE PATRICOF PRIVATE
INVESTMENT CLUB, L.P.
By: APA Excelsior IV Partners, L.P.
its General Partner
By: Patricof & Co. Managers, Inc.
its General Partner
By: /s/ Xxxx Xxxxxxxx
-----------------------------------
Name: Xxxx Xxxxxxxx
Title:
XXXXXXX FRERES
By: /s/ Xxxxxx Xxxxxxx
-----------------------------------
Name: Xxxxxx Xxxxxxx
Title: Administrateur
BE PARTNERS
By: /s/ Xxxxxxx Xxxxxxxxxxx
-----------------------------------
Name: Xxxxxxx Xxxxxxxxxxx
Title: Partner
/s/ Xxxxxx Xxxxxx
-----------------------------------
Xxxxxx Xxxxxx
XXXXXXXXXXX & CO., INC.
By: /s/ Xxxxxxx X. X.
-----------------------------------
Name: Xxxxxxx X. X.
Title: Managing Director
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TOLEDOT INVESTMENTS, L.P.
By: /s/ Xxxxxxx Xxxxxxx
-----------------------------------
Name: Xxxxxxx Xxxxxxx
Title:
/s/ Xxxxxxx Xxxxxxx
Xxxxxxx Xxxxxxx
/s/ Xxxxxx Xxxxx
-----------------------------------
Xxxxxx Xxxxx
/s/ Xxxxxx Xxxxxxxxxx
-----------------------------------
Xxxxxx Xxxxxxxxxx
/s/ Xxxxx Xxxxxxxxx
-----------------------------------
Xxxxx Xxxxxxxxx
/s/ Xxxx Xxxxxxxxx
-----------------------------------
Xxxx Xxxxxxxxx
/s/ Xxxx Xxxxxxxxxx
-----------------------------------
Xxxx Xxxxxxxxxx, M.D.
XXXXXXXXXXX/XXXXXX
INFORMATION PARTNERS I, L.P.
By: Xxxxxxxxxxx/Xxxxxx Information
Partners L.L.C., its General Partner
By:/s/ Oakleigh Xxxxxx
-----------------------------------
Name: Oakleigh Xxxxxx
Title: Co-President
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SCHEDULE A
================================================================================
Number of
Investor Address Acquired Shares Purchase Price
-------- ------- --------------- --------------
--------------------------------------------------------------------------------
CSK Venture Capital 7th Floor, Kenchiku- 434,783(1) $2,000,000
Co., Ltd. kaikan,
0-00-00 Xxxxx, Xxxxxx-xx,
Xxxxx 000, Xxxxx
--------------------------------------------------------------------------------
Media Technology One First Street, 591,583(2) $2,657,288
Ventures, L.P. Xxxxx 00
Xxx Xxxxx, XX 00000
--------------------------------------------------------------------------------
Media Technology One First Street, 76,397(3) $ 343,159
Ventures Xxxxx 00
Xxxxxxxxxxxxx Xxxx, Xxx Xxxxx, XX 00000
L.P.
--------------------------------------------------------------------------------
Xxxxxx Xxxxxxxx, Bernhard Management 32,609 $ 150,000
Xxxxxxx X. Xxxxxxxx, 0 Xxxx 00xx Xxxxxx
Xxxxx X. Xxxx, and 00xx Xxxxx
Xxxxxxxx X. Xxx Xxxx, XX 00000
Buttenweiser,
Trustees U/A Dated
9/3/64 F/B/O Xxxxxx
X. Xxxxxxxx Family
--------------------------------------------------------------------------------
Xxxxxx Xxxxxxxx, Xxxxxxxx Management 32,608 $ 150,000
Xxxxxxx X. Xxxxxxxx, 0 Xxxx 00xx Xxxxxx
Xxxx X. Xxxx, and 28th Floor
Xxxxxxxx X. Xxx Xxxx, XX 00000
Buttenweiser,
Trustees U/W/D
Xxxxxxx X. Xxxxxxxx
F/B/O Xxxxxx X.
Xxxxxxxx Article 9th
--------------------------------------------------------------------------------
----------
(1) Includes 123,974 shares of Series C Preferred Stock issued to CSK as
a result of the Series B Exchange.
(2) 206,433 shares of which are being acquired at $4.29 per share
pursuant to this Supplemental Agreement as of October 31, 1997.
(3) 26,667 shares of which are being acquired at $4.29 per share
pursuant to this Supplemental Agreement as of October 31, 1997.
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--------------------------------------------------------------------------------
Xxxxxxx Freres Banque D'Escompte 108,696 $ 500,000
00 Xxxx. Xxxxxxxxx
00000 Xxxxx, Xxxxxx
--------------------------------------------------------------------------------
Xxxxxxxxxxx & Co., World Financial Center 65,217 $ 300,000
Inc. 00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxxxx
--------------------------------------------------------------------------------
RHL Ventures LLC c/o Xxxxxx Xxxxxx 54,348 $ 250,000
000 Xxxxx Xxxxxxxx Xx.
Xxxxxxxxx, XX 00000
--------------------------------------------------------------------------------
Xxxxxx Xxxxxxxxxx Mole Constructors 21,739 $ 100,000
00000 Xxxx Xxxxxx
Xxxxx, XX 00000-0000
--------------------------------------------------------------------------------
Xxxxxxx Xxxxxxx Opus Capital Partners 10,869 $ 50,000
0000 Xxxxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
--------------------------------------------------------------------------------
Toledot Investments, Opus Capital Partners 10,870 $ 50,000
L.P. 0000 Xxxxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
--------------------------------------------------------------------------------
Xxxxx Xxxxxxxxx Dechert, Price & Xxxxxx 3,261 $ 15,000
00 Xxxxxxxxxxx Xxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
--------------------------------------------------------------------------------
Xxxx Xxxxxxxxx Dechert, Price & Xxxxxx 7,609 $ 35,000
00 Xxxxxxxxxxx Xxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
--------------------------------------------------------------------------------
BE Partners 000 Xx. XxXxxxx Xxxxxx 21,739 $ 100,000
Xxxxx 0000
Xxxxxxx, XX 00000
--------------------------------------------------------------------------------
Xxxxxx Xxxxx EDventure Holdings, Inc. 10,870 $ 50,000
000 Xxxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000-0000
--------------------------------------------------------------------------------
Xxxx Xxxxxxxxxx, Patient Care Technologies 10,870 $ 50,000
M.D. 0 Xxxxxxxxx Xxxx Xxxx XX
Xxxxxxx, XX 00000
--------------------------------------------------------------------------------
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--------------------------------------------------------------------------------
APA Excelsior IV, Patricof & Co. Ventures, 181,826 $ 836,400
L.P. Inc.
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
--------------------------------------------------------------------------------
APA Excelsior IV Patricof & Co. Ventures, 32,087 $ 147,600
Offshore, L.P. Inc.
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
--------------------------------------------------------------------------------
The Patricof Private Patricof & Co. Ventures, 3,478 $ 15,999
Investment Club Inc.
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
--------------------------------------------------------------------------------
Xxxxxxxxxxx/Xxxxxx Xxxxxxxxxxx/Xxxxxx 699,301(4) $3,000,000
Information Partners Information Partners
I, L.P. X.X. Xxx 000
Xxxx Xxxxxx, XX 00000
================================================================================
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(4) Acquired at a purchase price of $4.29 per share.
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SCHEDULE B
Addendum Signature Page to Stock Purchase Agreement
11
ADDENDUM SIGNATURE PAGE
TO
STOCK PURCHASE AGREEMENT
BY AND BETWEEN
MEDSCAPE, INC.
AND
EACH OF THE PERSONS LISTED ON SCHEDULE A
DATED: OCTOBER 31, 1997
This Agreement is executed by the undersigned on February ___,
1998, as though executed as of October 31, 1997; provided, however, that for
purposes of the undersigned's execution of this Agreement and its purchase, in
the aggregate, of 233,100 Acquired Preferred Shares, the Purchase Price shall be
$4.29 per share.
MEDIA TECHNOLOGY VENTURES, L.P.
By: /s/ Xxxxx Xxxxxxx
---------------------------
Name: Xxxxx Xxxxxxx
Title: General Partner
MEDIA TECHNOLOGY VENTURES
ENTREPRENEURS FUND, L.P.
By: /s/ Xxxxx Xxxxxxx
---------------------------
Name: Xxxxx Xxxxxxx
Title: General Partner
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SCHEDULE 6.3
Shares Owned Options Granted
------------------------------------------------------ ---------------
Series A Series B Series C Class A Class B
Preferred Preferred Preferred Common Common Total
Stockholders Stock Stock Stock Stock Stock Options
------------ ----- ----- ----- ----- ----- -------
The Excelsior Fund I 788,200 264,600
Xxxxx Xxxxxxxx 431,600 122,600 103,800
Xxxxxxx Xxxxxx 324,000
Xxxxxx Xxxxxxxx 152,267 13,333
Xxxx Xxxxxxx 9,000
Xxxx Xxxxxxxx (and designees) 6,000 46,000
Xxxxxx Xxxxx 10,870 3,000 15,000
Xxxxxx Xxxxxxx 6,000 12,000
Xxxxxxx Xxxxx 16,800 45,601
Xxxxxxx Xxxxxxxxx 3,089
Xxxxx Xxxxxxxx 102
Xxxxxxxxx Xxxx 21,600 72,000
Xxxxxxx Xxxxxxxx 32,200
Patricof & Co. Ventures, Inc. 31,200
APA Excelsior IV, L.P. 181,826
APA Excelsior IV/Offshore, L.P. 32,087
The Patricof Private Investment Club 3,478
Louis Del Xxxxxxx 15,600
Xxxxxx Xxxx 11,600
Xxxxxxx Xxxxxx 4,000
Xxxxx Xxxxxxx 7,620
Medscape Employees 525,089
Employee Reserved Options 181,039
SCP Employees 196,660
Xxxxxx/Xxxxxx 100,000
CSK Venture
Capital Co., Ltd. 434,783
Media Technology
Ventures, L.P. 591,583
Media Technology Ventures
Entrepreneurs Fund, L.P. 76,397
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SCHEDULE 6.3 (continued)
Shares Owned Options Granted
------------------------------------------------------ ---------------
Series A Series B Series C Class A Class B
Preferred Preferred Preferred Common Common Total
Stockholders Stock Stock Stock Stock Stock Options
------------ ----- ----- ----- ----- ----- -------
Xxxxxx Xxxxxxxx,
Xxxxxxx X. Xxxxxxxx,
Xxxxx X. Xxxx, and Xxxxxxxx
X. Xxxxxxxxxxxx, Trustees U/A
Dated 9/3/64 F/B/O Xxxxxx X.
Xxxxxxxx Family 32,609
Xxxxxx Xxxxxxxx, Xxxxxxx X. Xxxxxxxx,
Xxxx X. Xxxx, and Xxxxxxxx X.
Xxxxxxxxxxxx, Trustees U/W/D
Xxxxxxx X. Xxxxxxxx F/B/O Xxxxxx X.
Xxxxxxxx Article 9th 32,608
Xxxxxxx Freres 108,696
Xxxxxxxxxxx & Co., Inc. 65,217
RHL Ventures LLC 54,348
Xxxxxxx Xxxxxxx 10,869
Toledot Investments, L.P. 10,870
Xxxxxx Xxxxxxxxxx 21,739
BE Partners 21,739
Xxxxx Xxxxxxxxx 3,261
Xxxx Xxxxxxxxx 7,609
Xxxx Xxxxxxxxxx, M.D. 10,870
Xxxxxxxxxxx/Xxxxxx Information
Partners I, L.P. 699,301
------- -------- --------- ------- ------- ---------
TOTAL: 788,200 0 2,410,760 431,600 698,278 1,643,522
