Exhibit 10.2

 

SHARE PURCHASE AND CALL OPTION AGREEMENT

 

Between

 

Mr. Yves Guillemain d’Echon

Mr. Jean-Christophe Bodin

Mrs. Catherine Guillemain d’Echon

Mr. Florent Guillemain d’Echon

Mr. Alban Guillemain d’Echon

Mr. Tristan Guillemain d’Echon

Mr. Jean Guillemain d’Echon

Mrs. Katia Bodin

Miss. Fabienne Gairin

Miss. Isabelle Viroulet

Miss. Aurélie Blanchard

Mr. Didier Pinget

Mr. Eric Tourraud

Mr. Philippe Maréchal

 

(The Purchasers and Grantors)

 

and

 

Conceptus Inc.

 

(The Seller and Beneficiary)

 

January 17, 2004

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TABLE OF CONTENTS

 

1    DEFINITIONS    4 2    SALE AND PURCHASE OF THE SHARES    7 3    PURCHASE
PRICE AND PAYMENT OF THE PURCHASE PRICE    7 4    ACTIONS TO BE TAKEN ON THE
TRANSFER DATE    7 5    REPRESENTATIONS AND WARRANTIES    8 6    POST TRANSFER
OF THE SHARES - COVENANTS OF THE PARTIES    8 7    CALL OPTION (PROMESSE DE
VENTE)    10 8    INDEMNIFICATION    17 9    POST TRANSFER OF THE OPTION SHARES
- COVENANTS OF THE PARTIES    19 10    NOTICES    21 11    MISCELLANEOUS    22

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SHARE PURCHASE AND CALL OPTION AGREEMENT

 

This share purchase and call option agreement is entered into on January 17,
2004,

 

BETWEEN:

 

1. Conceptus Inc., a company organized under the laws of the State of Delaware,
the registered office of which is at 1021 Howard Ave, San Carlos, CA, 94019,
United States of America, represented by Mark Siezckarek in his capacity of
President and Chief Executive Officer, duly authorized for the purpose hereof,

 

(hereinafter referred to as the “Seller” or the “Beneficiary”),

 

On the one hand,

 

AND:

 

2. Mr. Yves Guillemain d’Echon, born on July 30, 1956, at Nevers, France, French
citizen, living at 4, Passage Saladin 78000 Versailles, married under the
communauté réduite aux acquêts regime,

 

3. Mr. Jean-Christophe Bodin, born on February 25, 1957, at Neuilly sur Seine,
French citizen, living at 3, rue Charles Gounod 94440 Santeny, married under the
séparation des biens regime,

 

(the parties 2 and 3 are acting jointly and severally and hereinafter referred
to as the “Managers”),

 

4. Mrs. Catherine Guillemain d’Echon, née Johanet, born on June 22, 1958, at
Donzy, French citizen, living at 4 Passage Saladin 78000 Versailles, married
under the communauté réduite aux acquêts regime,

 

5. Mr. Florent Guillemain d’Echon, born on February 28, 1982, at Oullins,
France, French citizen, living at 4, passage Saladin 78000 Versailles, single,

 

6. Mr. Alban Guillemain d’Echon, born on August 5, 1983, at Lyon, France, French
citizen, living at 4, passage Saladin 78000 Versailles, single,

 

7. Mr. Tristan Guillemain d’Echon, born on August 15, 1985, at Cosnes-Cours sur
Loire, France, French citizen, living at 4, passage Saladin 78000 Versailles,
single,

 

8. Mr. Jean Guillemain d’Echon, born on September 10, 1981, at Clermont Ferrand,
France, French citizen, living at c/o Mr. Camus, 75, rue Dutot 75015 Paris,
single,

 

9. Mrs. Katia Bodin, née Agostini, born on August 30, 1966, at Metz, France,
French citizen, living at 3, rue Charles Gounod 94440 Santeny, married under the
séparation des biens regime,

 

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10. Miss. Fabienne Gairin, born on September 20, 1957, at Lorient, France,
French citizen, living at 37, avenue Lucien René Duchesne, Bâtiment 8, 78170 La
Celle Saint Cloud, divorced,

 

11. Miss. Isabelle Viroulet, born on July 7, 1973, at Saint Ouen, France, French
citizen, living at 3, Cité de l’Alma, 75007 Paris, single,

 

12. Miss. Aurélie Blanchard, born on July 4, 1982, at Agen, France, French
citizen, living at Résidence la Muette 1 Square Raynouard, 78150 Rocquencourt,
single,

 

13. Mr. Didier Pinget, born on November 28, 1961, at Sainte Foy le Lyon, French
citizen, living at 9 Boulevard des Brotteaux 69006 Lyon, married under the
séparation des biens regime,

 

14. Mr. Eric Tourraud, born on June 5, 1954, at Paris, France, French citizen,
living at 4, rue de la Pinte 66000 Perpignan, divorced,

 

15. Mr. Philippe Maréchal, born on April 24, 1962, at Juvisy, French citizen,
living at 12, avenue de Verdun 78170 La Celle Saint Cloud, married under the
séparation des biens regime,

 

(the parties 4 to 15 are acting jointly and severally and are hereinafter
referred to as the “Managers Partners”),

 

The Managers and Managers Partners acting jointly and severally and are
hereinafter referred to collectively as the “Purchasers” or the “Grantors”.

 

In the presence of for the purpose of Section 4.2, Section 6 and Section 7.1.2
hereof only:

 

16. Conceptus SAS, a company organized under the laws of France, the registered
office of which is at 7/9 rue du Maréchal Foch, registered at the Versailles
register under the number 440 204 964, represented by Mr. Yves Guillemain
d’Echon in his capacity of Président, duly authorized.

 

(hereinafter referred to as the “Company”),

 

The Seller/Beneficiary and the Purchasers/Grantors are hereinafter referred to
individually as a “Party” and collectively as the “Parties”.

 

RECITALS:

 

(A) The Seller, a NASDAQ-listed Delaware company, owns the intellectual property
rights related to a pregnancy control device called ESSURE (“Essure”).

 

(B) The Seller owns directly 100% of the shares in Conceptus SAS (the
“Company”), a French Société par Actions Simplifiée, with a share capital of €
50,000 divided into 5,000 identical shares (the “Shares”).

 

(C) The Company is engaged in the business of the distribution of medical
products.

 

(D) The Purchasers have agreed to acquire the Shares from the Seller and the
Seller has agreed to sell the Shares to the Purchasers under the terms and
conditions of this Agreement.

 

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NOW, THEREFORE, the Parties agree as follows:

 

1 DEFINITIONS

 

For the purpose of this Agreement:

 

Accounting Principles    shall mean the accounting principles applied by the
Company in accordance with French GAAP. Agreement    shall mean this share
purchase and call option agreement including its recitals and the Disclosure
Schedule. Audited Financial Statements    shall have the meaning set forth in
Article 7.5.5. Beneficiary    shall have the meaning set forth at the beginning
of this Agreement. Business Day    shall mean any day other than Saturday,
Sunday, a legal holiday or a day on which banking institutions in Paris, France
are closed. Call Option    shall have the meaning set forth in Article 7. Claim
   shall have the meaning set forth in Article 8.3. Claim Notice    shall have
the meaning set forth in Article 8.3. Closing Actions    shall have the meaning
set forth in Article 4.2. Companies    shall mean the Company and its
Subsidiaries, if any. Company    shall have the meaning set forth in paragraph B
of the Recitals. Confirmation of the Call Option    shall have the meaning set
forth in Article 7.1.4. Disclosure Schedule    shall have the meaning set forth
in Article 7.1.3. Distribution Agreement    shall have the meaning set forth in
Article 4.1. Due Diligence    shall have the meaning set forth in Article 7.1.
Due Diligence Disclosure    shall have the meaning set forth in Article 7.1. Due
Diligence Documents    shall have the meaning set forth in Article 7.1. Due
Diligence Period    shall have the meaning set forth in Article 7.1. Escrow
Agent    shall have the meaning set forth in Article 7.3. Essure    shall have
the meaning set forth in paragraph A of the Recitals.

 

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Fiscal Year    shall mean the fiscal year of the Company commencing on January 1
and ending on December 31 of each year. Governmental Authority    shall mean the
United States, the European Union and any of its member states or any political
subdivision thereof, any other nation, state, province, municipality or other
jurisdiction of any nature, any entity or body exercising executive,
legislative, judicial, regulatory, taxing or administrative functions of or
pertaining to government and any governmental or judicial tribunal of competent
jurisdiction. Grantors    shall mean the individuals listed at the beginning of
this Agreement and the individuals who may adhere to this Agreement as Grantors
pursuant to section 7.4.1 below. Indemnified Parties    shall have the meaning
set forth in Article 8.1.1. Law    shall mean any law, statute, rule,
regulation, ordinance, directive, order or decree of any Governmental Authority.
Lien    shall mean any security interest, mortgage, lien, pledge, charge, or
other form of security interest, encumbrance, “servitude” or restriction on use,
voting or transfer or, generally, any third party right, that has the purpose or
the effect of restricting the ownership of any asset or security. Loss    shall
have the meaning set forth in Article 8.1.1. Managers    shall have the meaning
set forth at the beginning of this Agreement. Managers Partners    shall have
the meaning set forth at the beginning of this Agreement. Material Adversely
Affects    when used with respect to any event, circumstance, condition, fact,
effect, or other matter, shall mean that such event, circumstance, condition,
fact, effect, or other matter, has or is reasonably likely to have a material
adverse effect on the business, assets, condition (financial or otherwise),
prospects, results or operations of one or all the Companies. Notice    shall
have the meaning set forth in Article 10.1. Notice of Interest    shall have the
meaning set forth in Article 7.1. Option Period 0    shall have the meaning set
forth in Article 7.1. Option Period 1    shall have the meaning set forth in
Article 7.1. Option Period 2    shall have the meaning set forth in Article 7.1.
Option Period 3    shall have the meaning set forth in Article 7.1. Option
Periods    shall have the meaning set forth in Article 7.1. Option Shares   
shall have the meaning set forth in Article 7. Option Purchase Price    shall
have the meaning set forth in Article 7.2.1. Ordinary Course of Business   
shall mean the ordinary course of business consistent with past custom and
practice (including with respect to quantity and frequency).

 

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Other Products Option    shall have the meaning set forth in Article 7.1.
Parties    shall have the meaning set forth at the beginning of this Agreement.
Person    shall mean any individual or any corporation, association,
partnership, joint venture, limited liability, joint stock or other company,
business trust, trust, organization, business or government or any governmental
agency or political subdivision thereof. Profitable    shall mean in relation to
the Company that the consolidated net profit of the Audited Financial Statements
preceding the Notice of Interest is equal to a minimum positive 1 Euro for the
previous Fiscal Year based on the latest Audited Financial Accounts. Purchase
Price    shall have the meaning set forth in Article 3. Purchasers    shall have
the meaning set forth at the beginning of this Agreement. Sales Revenue for
Conceptus Products    shall mean the revenue resulting from the sales of
Conceptus Inc. products. Sales Revenue for Non-Conceptus Products    shall mean
the revenue resulting from the sales of products which are not Conceptus Inc.
products. Schedule(s)    shall mean the schedule(s) attached hereto. Seller   
shall have the meaning set forth at the beginning of this Agreement. Shares   
shall have the meaning set forth in paragraph B of the Recitals. Subsidiaries   
shall mean in relation to any specified Person any company or other entity in
which such Person owns directly or indirectly more than fifty percent (50%) of
the capital stock or voting rights. Tax or Taxes    shall mean all direct or
indirect taxes, charges, imposts, fees, duties, levies or other assessments or
governmental charges of any kind, and any charge in the nature of taxation,
whether payable directly or by withholding (wherever imposed), including,
without limitation, all net income, gross income, gross receipts, sales, use, ad
valorem, transfer, franchise, profits, withholding, payroll, employment, social
security (including any health, unemployment, housing, family allowances,
pension or retirement contributions or similar payroll-related charges, taxes or
assessments), excise, severance, property, local (including taxe
professionnelle) or other taxes, duties, fees, assessments or charges of any
kind whatsoever, including any interest thereon, and penalties, fines or
additional amounts in relation, or attributable, thereto, and any payment made
in or in relation thereto, imposed by any Governmental Authority. Tax Return   
shall mean any return, report, information return, statement, declaration or
other document (including any related or supporting information) filed or
required to be filed with any Governmental Authority in connection with any
determination, assessment or collection of any Tax or other administration of
any Laws, regulations or administrative requirements.

 

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Territory    shall have the meaning set forth in the Distribution Agreement.
Transfer Date    shall mean the date hereof. Transfer of the Option Shares   
shall have the meaning set forth in Article 7.3. Transfer of the Option Shares
Date    shall mean the date of consummation of the sale of the Option Shares to
the Beneficiary by delivery of the documents referred to in Article 7.3 hereof
against payment of the Option Purchase Price. Transfer of the Shares    shall
have the meaning set forth in Article 2.1.

 

2 SALE AND PURCHASE OF THE SHARES

 

2.1 The Seller agrees to sell to the Purchasers, and the Purchasers agree to
purchase from the Seller all of the Shares, in the proportions set out in
Schedule 2.1 hereto, for the consideration specified in Article 3 and upon
completion of the actions to be taken specified in Article 4, on the Transfer
Date (said sale and purchase being herein referred to as the “Transfer of the
Shares”).

 

2.2 Upon completion of the Transfer of the Shares, the Purchasers shall have the
possession, use and ownership of the Shares and shall be subrogated to all the
rights and obligations attached to the Shares including the right to the full
amount of all dividends which might be paid as from the Transfer Date.

 

3 PURCHASE PRICE AND PAYMENT OF THE PURCHASE PRICE

 

In light of the financial situation of the Company, the total purchase price for
the Shares shall be equal to one (1) euro (the “Purchase Price”) which shall be
paid on the Transfer Date.

 

4 ACTIONS TO BE TAKEN ON THE TRANSFER DATE

 

4.1 On the Transfer Date:

 

(i) the Seller shall deliver or cause to be delivered to the Purchasers duly
executed share transfer orders (ordres de mouvement) to transfer the Shares to
the Purchasers;

 

(ii) Mr. Yves Guillemain d’Echon shall pay on behalf and for the account of the
Purchasers the Purchase Price to the Seller;

 

(iii) the Seller and the Company shall enter into, on the Transfer Date, a
distribution agreement attached as Schedule 4.1 hereto, (the “Distribution
Agreement”).

 

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4.2 For the avoidance of doubt, it is specified that all of the actions listed
in this Article 4.2 and 4.1 (the “Closing Actions”) is conditional upon the
occurrence of all of the others, so that if one of the Closing Actions does not
occur, the Party that is not responsible for taking that action to occur shall
be entitled to refuse to proceed with the closing and shall incur no liability
vis-à-vis the other Party in connection with such refusal without prejudice to
its right to seek and obtain any remedy that may be available under applicable
law.

 

5 REPRESENTATIONS AND WARRANTIES

 

5.1 Representations and warranties of the Seller

 

  5.1.1 Mr. Yves Guillemain d’Echon having managed and operated the Company
since December 14, 2001, as C.E.O. (Président), the Purchasers acknowledge that
they have full knowledge of the Company’s activities and operations and confirm
that they are capable of evaluating the merits and risks of their purchase of
the Shares.

 

As a consequence, the Seller does not grant to the Purchasers any representation
or warranty whatsoever related to the Shares or the Company and its activities
and operations, other than those granted pursuant to Article 5.1.2.

 

  5.1.2 The Seller represents and warrants that:

 

  (i) the Shares are validly owned by the Seller;

 

  (ii) the Shares represent all of the issued share capital of the Company;

 

  (iii) the Shares are free and clear of any Liens;

 

  (iv) no increase in share capital nor distribution of dividends has been
decided by the shareholders of the Company between June 30, 2003 and the
Transfer Date; and

 

  (v) the execution and delivery of the Agreement by the Seller and the
consummation by the Seller of the Transfer of the Shares have been duly approved
by the relevant corporate body of the Seller.

 

5.2 Representations and Warranties of the Purchasers

 

The Purchasers represent and warrant that:

 

  (i) they have full Knowledge of the Company’s activities, operations and
financial situation and that, following the Transfer of the Shares, the Company
will no longer benefit from the financial support of the Seller.

 

  (ii) they have the necessary financial resources to support the Company so
that it can, after the Transfer of the Shares, carry out its activity as it does
today.

 

6 POST TRANSFER OF THE SHARES - COVENANTS OF THE PARTIES

 

6.1 Transition

 

Following the Transfer of the Shares, the Parties agree to jointly inform the
customers with respect to the transfer of control of the Company. The Parties
shall mutually agree on the format, content, place and date of such notices.

 

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6.2 Regulatory Issues

 

As from the Transfer Date, the Company shall have full responsibility to obtain
any and all regulatory approvals that are or may become necessary to operate the
Company and conduct its business.

 

This responsibility excludes the right to obtain, manage or maintain the CE mark
related to the products manufactured or marketed by the Seller. The full
responsibility for the CE mark will remain with the Seller, who will agree to
keep the mark valid for the term of this Agreement and the Distribution
Agreement. The Seller will assign as necessary any rights to the CE mark
necessary for the Company to operate in the Territory defined in the
Distribution Agreement.

 

To the extent permitted by applicable Law, the Seller undertakes to assign or
otherwise have the Company, at the Company’s costs, benefit from, any and all
legal and regulatory approvals which it holds as of the Transfer Date and which
are reasonably necessary for the sale, distribution or promotion of Essure
within the Territory authorized under the Distribution Agreement between the
Seller and the Company and relating to Essure.

 

6.3 Outstanding agreements

 

No costs, fees, or other expenses resulting from (i) any agreement entered into
between the Seller and a third party (other than the Company) and/or (ii)
employees of the Seller, shall be incurred or borne by the Company.

 

6.4 Non Solicitation of Employees

 

For three years following the Transfer Date, the Parties undertake and shall
cause their representatives and employees to undertake (and, for the avoidance
of doubt, the Purchasers shall cause the Company to undertake), whether on their
own account or for the account of any other Person, not to contact, solicit or
endeavor to entice away from the other Party or hire any person who was employed
by it on the Transfer Date or at any time within a period of one year prior to
that date, without the other Party’s consent.

 

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6.5 Limitation of the Activity of the Company

 

  6.5.1 Notwithstanding the Call Option, the Purchasers shall have a complete
independence in managing the Company, it being understood that the activity of
the Company shall be limited to distribution activities and activities ancillary
to distribution activities. The Company shall not, and the Purchasers will
procure the Company not to enter into distribution, promotional or acquisition
agreements for Non-Conceptus Products which are directly or indirectly of a
competitive nature with the Conceptus products. If the Company distributes
products which are not produced by the Seller, the Purchasers shall procure that
the Company maintains clear and distinct accounting of assets and resources used
for distribution activities or activities ancillary to it for the Non-Conceptus
Products, in order to allow accurate valuation of the Company profitability
regarding solely the Conceptus Products. The Company will, and the Purchasers
will procure that, the Company ensure that all agreements to distribute
non-Conceptus Products will allow the Company to terminate said agreement, at
its sole discretion, without incurring any indemnification, costs or penalty
whatsoever with at most a 90-day notice period.

 

  6.5.2 Additional Undertaking of the Purchasers

 

It will be the responsibility of the Purchasers to remove any signatories of the
Seller from any existing banking accounts, power of attorneys or other legal or
financial instruments of the Company at or after the Transfer Date.

 

6.6 Additional Undertaking of the Managers

 

In addition to any indemnification, undertaking and guarantee granted hereby by
the Managers, the Managers irrevocably jointly and severally guarantee and
undertake to procure (“se portent fort”) the fulfillment of all the obligations
of the Managers Partners under this Agreement.

 

7     CALL OPTION (Promesse de Vente)

 

In accordance with the terms and subject to the conditions of this Agreement,
the Grantors hereby grant to the Beneficiary an option to purchase all (but not
some only) of the issued and outstanding shares in the Company existing at the
time the Call Option is exercised (the “Option Shares”) for the price determined
as specified below, payable to the Grantors by the Beneficiary for the Option
Shares in the event of the exercise of such option (the “Call Option”).

 

The Beneficiary accepts the benefit of the Call Option as an option solely
without hereby undertaking to exercise it.

 

7.1 Exercise of the Call Option

 

  7.1.1 The Call Option shall be exercisable by written notice sent by the
Beneficiary to the Grantors’ and Managers’ Agent (the “Notice of Interest”) at
any time:

 

  1. Between the Transfer Date and the beginning of Option Period 1 (the “Option
Period 0”);

 

  2. During the three-month period starting as from (i) [*] and (ii) no later
than [*] (the “Option Period 1”);

 

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  3. During the three-month period starting as from (i) [*] and (ii) no later
than [*] (the “Option Period 2”);

 

  4. During the three-month period starting as from (i) [*] and (ii) [*] (the
“Option Period 3”)

 

  5. For each successive year after [*], and as long as the Distribution
Agreement is in force between the Company and the Beneficiary, during the
three-month period starting as from (i) [*], and (ii) no later than [*] of each
year. The Option Purchase Price for the Call Option Periods after [*] will be
the same as Option Period 3 defined in Section 7.2.1.

 

The Option Period 0, the Option Period 1, the Option Period 2, the Option Period
3 and the option periods defined in Article 7.1.1 (5) above are collectively
referred to hereby as the “Option Periods”.

 

The Call Option may be exercised by the Beneficiary for all (but not some only)
of the Option Shares at any time during the Option Periods.

 

  7.1.2 As from the notice of exercise of the Call Option, the Beneficiary shall
benefit from a thirty (30) days period (the “Due Diligence Period”) during which
it shall be able to conduct a due diligence of the Company (the “Due
Diligence”). The Grantors and the Company will provide the Beneficiary full
access to the premises and personnel of the Company as well as to any document
and notably all financial, accounting, legal, tax and corporate documents and
including without limitation all the necessary information and documents
required to evaluate the Option Purchase Price (including the products sale
contracts and the margin per contracts, turnover for the Sales Revenue for
Conceptus Products and Non-Conceptus product, on a monthly basis and the monthly
reporting) and all documents and information in response to any due diligence
request list sent to Grantors by the Beneficiary. The Grantors shall cooperate
fully with the Beneficiary and its representatives during the Due Diligence
Period.

 

At the end of the Due Diligence Period, the Beneficiary shall provide the
Grantors’ and Managers’ Agent with copies of all the information and documents
provided to the Beneficiary during the Due Diligence Period (the “Due Diligence
Documents”). Following the provision of the Due Diligence Documents, the
Managers will have five Business Days to complete such Due Diligence Documents
by notifying by written notice to the Beneficiary any additional information or
document. The completed Due Diligence Documents, once approved by the
Beneficiary and the Managers, shall constitute the “Due Diligence Disclosure”.

 

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  7.1.3 Before the end of the Due Diligence Period, the Grantors’ and Managers’
Agent shall provide the Beneficiary with a document setting forth the
disclosures required by the representations and warranties provided for in
Article 7.5 of the Agreement (the “Disclosure Schedule”).

 

  7.1.4 Within twenty (20) days of the end of the Due Diligence Period, and
provided it has received the Disclosure Schedule and the Due Diligence
Disclosure, the Beneficiary will confirm the exercise of the Call Option by
written notice by the Beneficiary to the Grantors’ and Managers’ Agent (the
“Confirmation of the Call Option”). Absent any such confirmation, the
Beneficiary shall be deemed not to have exercised the Call Option and will be
under no obligation to purchase the Option Shares (unless it exercises the Call
Option again in accordance with Article 7.1.1 et seq.)

 

  7.1.5 The Beneficiary, if and when confirming the exercise of the Call Option
and if mutually agreeable to the Grantor, shall have the right to review for
potential purchase the distribution rights to Non-Conceptus Products (the “Other
Products Option”) in accordance with Article 7.2. However, following the
Transfer of the Option Shares, the Company shall not be required to continue to
distribute the Non-Conceptus Products and shall be entitled to terminate these
agreements, as set out in Article 6.5.1, in case the Other Products Option is
not exercised.

 

7.2 Option Purchase Price

 

  7.2.1 Should the Beneficiary exercise the Call Option, the sale of the Option
Shares shall be made at a price determined according to this Article 7.2 (the
“Option Purchase Price”):

 

   

On Option Period 0

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Beneficiary does not exercise the Other Products Option   [*] Beneficiary
exercises the Other Products Option   [*]    

On Option Period 1

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Should the Company be

Profitable

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  Should the Company not be
Profitable

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Beneficiary does not exercise the Other Products Option   [*]   [*] Beneficiary
exercises the Other Products Option   [*]   [*]

 

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     On Option Period 2

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     Should the Company be
Profitable

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  Should the Company not be
Profitable

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Beneficiary does not exercise the Other Products Option    [*]   [*] Beneficiary
exercises the Other Products Option    [*]   [*]     

On Option Period 3 and on

each options periods defined in

Article 7.1.1 (5)

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     Should the Company be
Profitable

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  Should the Company not be
Profitable

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Beneficiary does not exercise the Other Products Option    [*]   [*] Beneficiary
exercises the Other Products Option    [*]   [*]

 

  7.2.2 As an exception to the foregoing, in the event of a change of control of
the Beneficiary and irrespective of section 7.2.1 and whether the Company is
Profitable or not, the price would be determined as follows:

 

     On Option Period 0 and Option Period 1

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Beneficiary does not exercise the Other Products Option    [*] Beneficiary
exercises the Other Products Option    [*]      On Option Period 2

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Beneficiary does not exercise the Other Products Option    [*] Beneficiary
exercises the Other Products Option    [*]

 

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On Option Period 3 and on

each options periods defined in

Article 7.1.1 (5)

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Beneficiary does not exercise the Other Products Option    [*] Beneficiary
exercises the Other Products Option    [*]

 

In the event of a change of control of the Beneficiary and irrespective of
section 7.2.1 and whether the Company is Profitable or not, the Option Purchase
Price for the Call Option Periods after [*] will be the same as Option Period 3
defined in this Section 7.2.2.

 

  7.2.3 For the avoidance of doubt, for the purposes of calculating the Option
Purchase Price, the Parties agree that in order to determine the amount of the
Sales Revenue for Conceptus Products and/or the Sales Revenue for Non-Conceptus
Products, only the products sold under normal terms and conditions in accordance
with market or past practices will be taken into account.

 

If the Grantors and the Beneficiary are unable to agree on the Option Purchase
Price (which includes the Profitability, the Sales Revenue for Conceptus
Products and/or the Sales Revenue for Non-Conceptus Products determination),
such amount shall be finally determined by PriceWaterhouseCoopers, who will act
in accordance with Article 1592 of the French Civil Code. The fees and expenses
of PriceWaterhouseCoopers therefore shall be shared equally between the Grantors
on the one hand and the Beneficiary on the other hand.

 

7.3 Transfer – Ownership

 

Should the Call Option be exercised, the transfer of ownership of the Option
Shares (hereinafter referred to as the “Transfer of the Option Shares”) and the
payment of the Option Purchase Price shall occur within 15 days of the later
date of (i) the date of the Confirmation of the Call Option and (ii) the final
determination of the Option Price as set out in Article 7.2.3 (the “Transfer of
the Option Shares Date”).

 

The Transfer of the Option Shares shall be subject to the submission of:

 

- bank checks or irrevocable bank transfers for amounts equal to the price due
to each of the Grantors;

 

- share transfer forms (ordres de mouvement) or any other relevant instruments
instructing the Company to transfer the Option Shares to the Beneficiary;

 

It being certified that the Disclosure Schedule remitted pursuant to Article
7.1.3 above shall become part of this agreement for the purposes of Articles 7.5
and 8 below.

 

The Parties expressly agree that the Beneficiary shall have the use and
ownership of the Option Shares as from the Transfer of the Option Shares Date
and that the Option Shares shall be transferred with the right to the dividend
attached.

 

Notwithstanding Article 7.2.2 here above, in case the Grantors failed to retract
and defaulted in any of their obligation under the Call Option and that the
Beneficiary gave notice of his offer to pay on time and in the abovementioned
conditions and has escrowed an amount equal to the

 

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Option Purchase Price on an escrow account at the Caisse des Dépôts et
Consignations (the “Escrow Agent”), the delivery of a copy of the Call Option to
the Company together with a copy of the notice to enforce the Call Option and
the receipt from the Escrow Agent, will be a sufficient exchange order and the
Company will therefore be required to transcribe the change of ownership of the
Option Shares in its book and in the corresponding shareholders’ accounts. The
Grantors expressly agree on the foregoing.

 

The Company, party to this Agreement, expressly agrees to act as the agent of
the Parties.

 

Notwithstanding Article 1142 of the French Civil code, Parties agree that in
case of a default by one Party, the other Party will be authorized to obtain a
“specific performance” before a French Court (meaning the transfer of the Option
Shares) by exception to damages.

 

7.4 Undertakings of the Grantors and the Beneficiary

 

  7.4.1 Undertakings of the Grantors

 

For the duration of the Call Option, the Grantors shall not transfer, pledge or
grant a security over, or in general otherwise dispose of the Option Shares in
any manner whatsoever.

 

For the duration of the Call Option the Grantors also undertake and will procure
(se portent fort) that the Company will limit the shareholding of the Company
(without any restriction) to individuals (personnes physiques) who shall accept
in writing, before subsecribing any securities of the Company, to be bound by
this Agreement (and shall adhere in writing to this Agreement as “Grantors”) and
especially by all the undertakings of the Grantors set out in this Article 7. In
addition, none of those individuals shall be have a controlling interest or be
an officer in a company that is a competitor to the Beneficiary.

 

For the duration of the Call Option and upon request, the Company and the
Grantors undertake to provide the Beneficiary with (i) the monthly Company’s
Sales Revenue for Conceptus Products and the Company’s Sales Revenue for
Non-Conceptus Products and (ii) full access to any information and documents
(including the financial accounts, the turnover for each of the Sales Revenue
for Conceptus Products and Non-Conceptus product, on a monthly basis and the
monthly reporting) in order for the Beneficiary to be able to have a clear
understanding of the way the Conceptus Products and Non-Conceptus Products are
distinguished and separated.

 

  7.4.2 Undertakings of the Beneficiary

 

In the event the Call Option is exercised and because the Company’s employees
have consented a lower remuneration because of the financial situation of the
Companies on the Transfer Date, the Beneficiary undertakes to have the Company’s
employees offered the possibility to revert to the employment contracts
provisions they benefited from immediately before the Transfer Date as an
incentive to have the Company’s employees remain with the Company.

 

7.5 Representations and Warranties of the Managers

 

The Managers represent and warrant to the Beneficiary that the statements
contained in this Article 7.5 together with the Disclosure Schedule and the Due
Diligence Disclosure will be correct and complete as of the Transfer of the
Option Shares Date.

 

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  7.5.1 Due Diligence

 

All the information, agreements and any document whatsoever relating to the
Company and its business, including all incurred and potential liabilities
whatsoever, have been disclosed to the Beneficiary in the Due Diligence and are
true, complete and accurate.

 

  7.5.2 Incorporation and Existence

 

The Companies are duly organized and validly existing.

 

  7.5.3 Shareholding

 

An exhaustive list of the Companies Subsidiaries is set forth in the Disclosure
Schedule.

 

The Companies hold no direct or indirect shareholding in any company existing in
law or in fact whatsoever, or in any legal or other entity other than the
Subsidiaries, nor do the Companies serve as a director in law or in fact in any
companies or entities whatsoever. The Companies have no outstanding or potential
liability with respect to any of its former shareholding.

 

  7.5.4 Capitalization

 

The Grantors validly own all the Option Shares which represent all of the issued
and outstanding share capital of the Company. The Option Shares are free from
and clear of any Lien. There are no options, promises, subscription vouchers or
other agreements or undertakings according to which any of the Companies is
obliged or may be obliged to create any securities, shares, rights or other
transferable securities.

 

Upon consummation of the transactions contemplated by this Call Option and
execution and delivery by the Grantors to the Beneficiary of share transfer
forms in respect of the Option Shares in the name of the Beneficiary, the
Beneficiary shall have a good title to the Option Shares and the direct and
exclusive control of all dividends and voting rights of the Option Shares.

 

  7.5.5 Accounting and Financial Documents

 

The Managers have provided, on the Transfer of the Option Shares Date, the
Beneficiary with copies of the audited Company’s consolidated financial
statements if any and the audited annual financial statements of each of the
Companies for the last ended fiscal year before the exercise of the Call Option
(balance sheet, profit and loss statement and notes on the accounts) (the
“Audited Financial Statements”).

 

The Audited Financial Statements (i) present fairly the financial position of
the Companies and the results of operations of the Companies as of the
respective dates thereof and for the periods covered thereby; and (ii) were
prepared in accordance with the Accounting Principles, applied on a consistent
basis throughout the periods covered thereby.

 

  7.5.6 Contracts

 

All agreements entered into by the Companies are listed in the Disclosure
Schedule. All such agreements have been entered into in the ordinary course of
business.

 

The Transfer of the Option Shares shall not affect the rights and obligations of
the Companies vis-vis third parties and none of the agreements entered into by
the Companies

 

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shall be terminated or cause any indemnification, payment, penalty to be due as
a result of the Transfer of the Option Shares except as disclosed in the
Disclosure Schedule but except, for avoidance of doubt, the sub-distributor
agreements which are required to not be solely and only affected by a change of
control of the Company.

 

  7.5.7 Litigation

 

There are no administrative, judicial or arbitration proceedings (including
inquiries, claims, complaints, assessments or inspection proceedings of any
nature whatsoever) existing, pending or, to the best knowledge of the Managers,
threatened by, against or between the Companies and any other Person, whether
the Companies are a plaintiff or a defendant, for itself or on behalf of a
Person for which it may be liable or a guarantor.

 

  7.5.8 Absence of certain changes and events

 

Since the last day of the period covered by the Audited Financial Accounts and
up to the Transfer of the Option Shares Date the Companies have been operated in
the ordinary course of business consistent with past practice.

 

  7.5.9 Completeness of Representations and Warranties

 

The Grantors have not omitted to disclose to the Beneficiary any facts
whatsoever that would be necessary in order for the Beneficiary not to be misled
by the information contained herewith including the Disclosure Schedule and the
Due Diligence Disclosure or to purchase them for a substantially lower price.
The Grantors have made all reasonable efforts to obtain from the Companies the
information of which they represent themselves as being aware of in the
representations made herein, including the Disclosure Schedule and Due Diligence
Disclosure.

 

Each of the warranties and representations herein contained is without prejudice
to any other warranty, representation or undertaking and no clause contained
herewith shall restrict or govern the extent or application of any clause.

 

There is no fact that Materially Adversely Affects the business, property,
condition, results of operations or business prospects of the Companies that has
not been notified to the Beneficiary prior to the Transfer of the Option Shares.

 

The representations made herewith, the warranties granted, and the undertakings
agreed to are valid, and shall remain valid, whatever the legal form the
Companies may acquire including the Disclosure Schedule and Due Diligence
Disclosure.

 

8 INDEMNIFICATION

 

8.1 Indemnification

 

Except as otherwise provided in this Article 8, from and after the Transfer of
the Option Shares, the Managers hereby agree to indemnify, defend and hold
harmless the Beneficiary or, at the Beneficiary’s sole option, the Companies
(collectively, the “Indemnified Parties”) against and in respect of 100% of any
reduction or shortfall in assets, or any increase or surplus in liabilities
whatsoever, and of any prejudice, damage, loss, shortfall in earnings or costs
that are suffered directly or indirectly by the Beneficiary or the Companies
(including penalties and legal costs), at the Transfer of the Option Shares Date
or may exist in the future and were not expressly disclosed in this Agreement or
the Disclosure Schedule or the Due Diligence Disclosure (“Loss” or “Losses”)
resulting from or incident to:

 

  1. any breach or inaccuracy of any representation or warranty made by the
Managers in or pursuant to this Agreement or in any certificate or other
document delivered in connection herewith and any misrepresentation made by the
Managers in connection with this Agreement or the transactions contemplated
hereby;

 

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  2. anything the Managers were aware of or should under normal business
conditions have been aware of that was not disclosed in the Due Diligence
Disclosure;

 

  3. any events or circumstances having their origin prior to the Transfer of
the Option Shares;

 

  4. any Taxes reassessment incurred by the Companies based on any facts or
events having arisen on or prior to the Transfer of the Option Shares.

 

8.2 Limitations and Exclusions

 

The Indemnified Parties shall not assert any claim for indemnification against
the Managers under this Article 8 until such time that the aggregate of all
indemnifiable claims that the Indemnified Parties may have against the Managers
under Article 8 shall exceed 100,000 euro, it being specified that in the event
this threshold is exceeded, the payment of the indemnity shall become due from
the first euro. The amount of any claim for indemnification against the Managers
under this Article 8 will not exceed the Option Purchase Price paid.

 

The Managers indemnification obligations under the terms of Article 8 hereof
shall be subject to the following conditions:

 

  a) no indemnification other than that due with respect to interest or
penalties for late payment shall be due by the Seller with respect to any Tax
reassessments leading only to a transfer of income or expenses from one fiscal
year to another, and that do not give rise to any additional Tax burden for the
Companies in comparison to that which they would bear in the absence of such
reassessment as a result of, notably, (i) any variation in the applicable Tax
rate, (ii) any increase in Tax liability, resulting interest charges or
penalties for late payment, or (iii), any reassessments of Tax liability
concerning the opening balance sheet of the first reassessable fiscal year
(bilan d’ouverture du premier exercise non prescrit) pursuant to the principle
that the opening balance sheet cannot be changed (intangibilité du bilan
d’ouverture);

 

  b) notwithstanding the fact that a Loss may result from a breach or inaccuracy
of more than one of the representations or warranties of this Agreement, the
Managers liability may only be sought once in respect of any given event or
damage.

 

8.3 Claims

 

All claims sent by an Indemnified Party to the Managers (“Claim”) shall be the
subject of a written notification setting forth the reasons why the Managers’
obligation to indemnify is being called into effect, and the amount of the Loss,
if it can be determined (“Claim Notice”). Any such Claim Notice shall be sent to
the Managers not later than sixty (60) days after the Indemnified Party has
become aware of the claimed breach allegedly giving rise to indemnification
hereunder.

 

In the absence of objection by the Managers to the Indemnified Party within
thirty (30) days of receipt by it of a Claim Notice, the Managers shall
immediately pay to the Beneficiary an amount equal to the indemnifiable Losses
set forth therein.

 

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8.4 Release

 

The Managers may not be released from its obligation to indemnify by invoking
any lack of awareness of the facts in question, or any knowledge that the
Beneficiary has or may have of the facts giving rise to the implementation of
the obligation to indemnify (e.g., as a result of any investigations made by the
Beneficiary).

 

Approval by the shareholders’ meeting of the Companies’ accounts for the current
fiscal year or any subsequent fiscal year shall not constitute, where
applicable, a waver by any of the Indemnified Parties of any right to
indemnification pursuant to Article 8.

 

8.5 Payments

 

Upon the final determination of the liability under this Article 8 either by
mutual agreement or upon a final court judgement or arbitration award (“jugement
definitif”), the Managers shall pay to the Indemnified Party within ten (10)
days after such determination, the amount of the claim for indemnification made
hereunder.

 

8.6 Survival of Representations, Warranties and Indemnity

 

All representations and warranties of the Grantors and the Managers shall
survive and continue in full force and effect until the second anniversary of
the Transfer of the Option Shares except for social and tax matters, for which
the representations and warranties of the Grantors and the

 

Managers shall survive and continue in full force and effect until one month
after the expiration of the applicable statutes of limitations.

 

The termination of any such representation and warranty, however, shall not
affect any claim for any breach of any representation or warranty if written
notice thereof is given to the breaching Party within the period of time
referred to in Article 8.3 before such termination date mentioned above.

 

9 POST TRANSFER OF THE OPTION SHARES - COVENANTS OF THE PARTIES

 

9.1 Transition

 

The Parties agree that, following the Transfer of the Option Shares, they shall
jointly inform the customers with respect to the transfer of control of the
Company. The Parties shall mutually agree on the format, content, place and date
of such notices.

 

The Grantors shall not take any action that is designed or intended to have the
effect of discouraging any lessor, licensor, customer, supplier, or other
business associate of the Company from maintaining the same business
relationships with the Company after the Transfer of the Option Shares as it
maintained with the Company and the Subsidiaries if any prior to the Transfer of
the Option Shares. The Grantors will refer to the Beneficiary all customer
inquiries received by the Grantors from and after the Transfer of the Option
Shares relating to the business of the Companies.

 

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9.2 Non-Competition Undertaking / Non Solicitation of Employees

 

  9.2.1 For three (3) years following the Transfer of the Option Shares, the
Managers undertake and shall cause their respective, representatives and
employees to undertake, (whether on their own account or for the account of any
other Person), among other things, not to:

 

  (a) compete, directly or indirectly, either as principal, officer, director,
agent, consultant, contractor, joint-venturer, employee, investor or anything
else with the Companies;

 

  (b) contact, solicit or endeavor to solicit, approach or do business with,
directly or indirectly, any Person who or which is at the date of the Transfer
of the Option Shares and who or which shall have been at any time during the
preceding year a client or customer of or in the habit of dealing or doing
business with the Companies, for selling or proposing products or services
already proposed by the Companies.

 

  9.2.2 For three (3) years following the date of the Transfer of the Option
Shares, the Managers undertake and shall cause their respective, representatives
and employees to undertake, (whether on their own account or for the account of
any other Person), not to contact, solicit or endeavor to entice away from the
Companies or hire any person who was employed by it on the date of the Transfer
of the Option Shares or at any time within a period of one year prior to that
date, without the Beneficiary’s consent.

 

9.3 Grantors’ and Managers’ Agent

 

For the purposes of this Agreement, the Grantors and the Managers hereby appoint
Yves Guillemain d’Echon as their representative (the “Grantors’ and Managers’
Agent”), who, in their name and on their behalf, shall make all notices and
communications, receive all notices or make all declarations and make all
payments which are to be made pursuant to this Agreement or as a consequence
thereof or arising there from, to, or on behalf of, the Grantors and/or the
Managers. In view of the mutual interest it represents for the Parties, such
power of attorney is irrevocable. Any notification to the Grantors’ and Mangers’
Agent shall thus be deemed to have been made to each of the Grantors and
Managers.

 

Should Yves Guillemain d’Echon, hereby appointed, be unable to perform his
duties to act as the Grantors’ and Mangers’ Agent, for any reason whatsoever,
Jean-Christophe Bodin will replace Yves Guillemain d’Echon as Grantors’ and
Mangers’ Agent. In such case, Jean-Christophe Bodin must notify to each Grantor
and Manager and to the Purchaser that he is henceforth acting as the Grantors’
and Mangers’ ‘ Agent. Should Jean-Christophe Bodin, hereby appointed, be unable
to perform his duties to act as the Grantors’ and Mangers’ Agent, for any reason
whatsoever, the Grantors’ and Mangers’ Agent will be appointed among the
Grantors by the President of the Commercial Court of Paris ruling in summary
form (“en référé”), such ruling not being challengeable in appeal.

 

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9.4 Confidentiality

 

  9.4.1 The Grantors covenant and agree that they shall not disclose to any
Person, orally or in writing, formally or informally, any information concerning
the businesses and affairs of the Companies that is not already generally
available to the public.

 

  9.4.2 The restrictions imposed by this Article 9.4.2 shall apply as from the
Transfer of the Option Shares Date and until its third anniversary.

 

10 NOTICES

 

10.1 Any notice, request, demand or other communication given with reference to
this Agreement (a “Notice”) shall be delivered in English and (i) by hand (with
written confirmation of receipt) to the persons listed hereinafter or (ii) by
certified or registered mail, postage prepaid, acknowledgement of receipt
requested or (iii) by overnight delivery service or (iii) by facsimile
transmission with confirmation of receipt simultaneously addressed by certified
mail.

 

10.2 A Notice shall be deemed to have been received (i) if delivered by hand, on
the day of such delivery or (ii) if delivered by certified or registered mail or
overnight delivery service, on the day of such delivery or, should the addressee
refuse the delivery or be absent on that date, on the day of first presentation
of the Notice or (iii) if delivered by fax, on the day on which such fax was
sent, provided that a copy is also sent by registered or certified mail sent no
later than the first Business Day following the day the facsimile was sent.

 

10.3 Notices shall be sent to the following addresses:

 

  (a) If to the Seller/Beneficiary, to:

 

Mr. Stan Van Gent

Conceptus Inc.

1021 Howard Ave, San Carlos

CA, 94019, United States of America

 

Fax: +1 650 802 2880

 

with a copy to:

 

Mr. Mark Siezckarek

Conceptus Inc.

1021 Howard Ave, San Carlos

CA, 94019, United States of America

 

Fax: +1 650 628 4748

 

  (b) If to the Purchasers/Grantors, to:

 

Mr. Yves Guillemain d’Echon

4, Passage Saladin

78000 Versailles

 

Fax: +33 1 30 21 19 25

 

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  (c) If to the Managers, to:

 

Mr. Yves Guillemain d’Echon

4, Passage Saladin

78000 Versailles

 

Fax: +33 1 30 21 19 25

 

or to such other addresses as a Party may notify to the other Party in
accordance with this Article 10, it being specified that any notification of a
change of address shall become effective ten (10) days after notification of
such change to the other Party.

 

11 MISCELLANEOUS

 

11.1 Taxes

 

The transfer Taxes resulting from the transfer of the Shares to the Purchasers
and from the transfer of the Option Shares to the Beneficiary shall be borne
respectively by the Purchasers and by the Beneficiary. The Purchasers and the
Beneficiary shall take all necessary steps to fulfill any and all formalities
relating thereto.

 

11.2 Other Costs and Expenses

 

Each Party shall bear its own costs and expenses, including fees of legal and
other counsels, incurred in connection with the preparation, execution and
implementation of this Agreement and the transactions contemplated hereby.

 

11.3 Calculation of the Periods of Time

 

For the calculation of a period of time, such period shall start the next
following day after the day on which the event triggering such period of time
has occurred. The expiry date shall be included in the period of time. If the
expiry date is not a Business Day, the expiry date shall be postponed until the
next Business Day.

 

11.4 Amendment

 

No terms of this Agreement may be altered, modified, amended, supplemented or
terminated except by an instrument in writing duly signed by the Parties.

 

11.5 Assignment

 

None of the Parties may assign the benefit of any provision of this Agreement
without the prior written consent of the other Party, to any Person, including
to any subsequent purchaser of all or parts of the Shares or Option Shares or to
a company that shall merge with the Party or to which the Party shall contribute
all or substantially all of its assets or its business.

 

11.6 Severability

 

If any provision herein, or the application thereof to any circumstance of this
Agreement, is held to be unenforceable, invalid or illegal by any court,
arbitration tribunal, government agency or regulatory body of competent
jurisdiction, (i) such provision shall be deemed deleted from this Agreement or
not applicable to such circumstance, as the case may be, and the enforceability,
validity and legality of the other provisions of this Agreement shall not be
affected or impaired thereby and (ii) the Parties shall negotiate in good faith
to agree on replacement terms that shall be enforceable, valid, legal, and
consistent with the initial intent of the Parties.

 

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11.7 Single Agreement

 

This Agreement (including the Schedules and the Disclosure Schedule) supersedes
all prior agreements, negotiations, drafts and understandings among the Parties
hereto.

 

11.8 Governing Law - Disputes

 

This Agreement shall be exclusively governed by and construed in accordance with
French law. All disputes arising out of or in connection with this Agreement
(including without limitation with respect to its signature, validity,
performance, interpretation, termination and post-termination obligations
hereof) shall be submitted to the exclusive jurisdiction of the Commercial Court
of Paris.

 

Made on the date specified above in twenty (20) originals.

 

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Mr. Yves GUILLEMAIN D’ECHON

 

Pursuant to Article 1415 of the French Civil Code, the undersigned Mrs Catherine
Guillemain d’Echon hereby expressly accepts all the undertakings made by Mr.
Yves Guillemain d’Echon pursuant to this Agreement.

     

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CONCEPTUS Inc.

By: Mr. Mark SIEZCKAREK

Title: President and Chief Executive Officer

--------------------------------------------------------------------------------

Mrs Catherine GUILLEMAIN D’ECHON

       

--------------------------------------------------------------------------------

Mr. Jean-Christophe BODIN

     

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CONCEPTUS SAS

By: Mr. Yves GUILLEMAIN D’ECHON

Title: President

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Mrs Catherine GUILLEMAIN D’ECHON

     

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Mr. Florent GUILLEMAIN D’ECHON

--------------------------------------------------------------------------------

Mr. Alban GUILLEMAIN D’ECHON

     

--------------------------------------------------------------------------------

Mr. Tristan GUILLEMAIN D’ECHON

--------------------------------------------------------------------------------

Mr. Jean GUILLEMAIN D’ECHON

     

--------------------------------------------------------------------------------

Mrs. Katia BODIN

 

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Miss. Fabienne GAIRIN

     

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Miss Isabelle VIROULET

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Miss Aurélie Blanchard

     

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Mr. Didier PINGET

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Mr. Eric TOURRAUD

     

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Mr. Philippe MARECHAL

 

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Schedule 2.1

 

Purchasers

--------------------------------------------------------------------------------

   Number of Shares acquired

--------------------------------------------------------------------------------

   Percentage of the share capital

--------------------------------------------------------------------------------

 

Yves Guillemain d’Echon

   2994    59,87 %

Jean-Christophe Bodin

   647    12,94 %

Catherine Guillemain d’Echon

   81    1,62 %

Florent Guillemain d’Echon

   81    1,62 %

Alban Guillemain d’Echon

   81    1,62 %

Tristan Guillemain d’Echon

   81    1,62 %

Jean Guillemain d’Echon

   81    1,62 %

Katia Bodin

   364    7,28 %

Fabienne Gairin

   178    3,56 %

Isabelle Viroulet

   121    2,43 %

Aurélie Blanchard

   8    0,16 %

Didier Pinget

   81    1,62 %

Eric Tourraud

   121    2,43 %

Philippe Maréchal

   81    1,62 %

TOTAL

   5.000    100 %

 

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Schedule 4.1

 

Distribution Agreement

 

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