Exhibit 10.2

 

FIRST AMENDMENT TO

 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT

 

This first amendment to that certain Amended and Restated Investors’ Rights
Agreement, made as of April 30, 2003 (the “Agreement”), by and among Xenogen
Corporation, a Delaware corporation (the “Company”) and the individuals and
entities listed on Exhibit A attached thereto (the “Investors”), is made as of
August 2, 2005.

 

Capitalized terms not defined herein shall have the meanings ascribed to them in
the Agreement.

 

RECITALS

 

A. The Company and the Investors entered into the Agreement in connection with
the sale and issuance of the Company’s Series AA Preferred Stock (the “Series AA
Preferred”).

 

B. The Agreement affords Holders of Registrable Securities or securities
convertible into Registrable Securities, and any person holding such securities
to whom the rights under the Agreement have been transferred in accordance with
Section 2.13 of the Agreement, certain rights related to the Registrable
Securities.

 

C. On July 16, 2004, the Company closed its first bona fide firm commitment
public offering (the “IPO”) underwritten by a nationally recognized investment
bank pursuant to an effective registration statement filed by the Company under
the Securities Act of 1933, as amended (the “Securities Act”) and, upon the IPO,
the Series AA Preferred converted into Common Stock of the Company.

 

D. Pursuant to Section 3.1(e) of the Agreement, upon the IPO, the right of first
refusal granted under Section 3.1 of the Agreement expired.

 

E. Pursuant to Section 4.5 of the Agreement, upon the IPO, the covenants set
forth in Sections 4.1, 4.2, 4.3 and 4.4 of the Agreement terminated and are of
no further force and effect.

 

F. Pursuant to Section 2.15 of the Agreement, the rights granted under Section 2
of the Agreement terminated as to certain Holders as a result of such Holders
being able to sell all of each such Holder’s Registrable Securities in a ninety
(90) day period pursuant to Rule 144 of the Securities Act and, therefore, the
Company and the Investors desire to amend Exhibit A to the Agreement to
accurately reflect the current Investors and Shares subject to the Agreement.

 

G. On July 29, 2005, the Company issued to Partners for Growth Managers, LLC
(“PfG”) warrants (the “Warrants”) to purchase up to 180,000 shares of Common
Stock of the Company (the “Warrant Stock”) in connection with PfG’s extension of
a credit facility to the Company, under which Warrants PfG is entitled to
certain rights set forth in the Agreement.

 

H. The Company and the Investors desire to amend the Agreement to afford PfG
such rights.

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I. Pursuant to Section 5.1 of the Agreement, the Agreement may be amended with
the written consent of the Company and the record holders of more than fifty
percent (50%) of the Shares and Conversion Stock.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing premises, the mutual promises
and agreements contained herein, and certain other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
Company and the Investors hereby agree as follows:

 

1. Exhibit A is hereby and amended and restated in its entirety to read as
Exhibit A attached hereto.

 

2. Sections 2.6, 2.7, 2.8, 2.9, 2.10, 2.11, 2.13 and 2.15 of the Agreement are
hereby amended such that, for all purposes under such sections, PfG will be
deemed a “Holder” as that term is defined in the Agreement and, for all purposes
under such sections, the Warrant Stock will be deemed Registrable Securities.
Notwithstanding the foregoing, PfG’s rights under Section 2.7 of the Agreement
shall be limited to participation in any such offering consistent with
Section 2.6(b) of the Agreement, and PfG shall not have the right to demand a
registration pursuant to Section 2.7.

 

3. Except as otherwise herein expressly provided, the Agreement shall remain in
full force and effect as originally executed and delivered.

 

4. This Amendment may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.

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This Amendment to the Amended and Restated Investors’ Rights Agreement is hereby
executed as of the date first above written.

 

“COMPANY”

XENOGEN CORPORATION

By:

 

/s/ WILLIAM A. ALBRIGHT, JR.

Name:

 

William A. Albright, Jr.

Title:

 

Chief Financial Officer

“INVESTOR”

By:

 

/s/ DAVID W. CARTER

Name:

 

David W. Carter

Title:

    “INVESTOR”

By:

 

/s/ MICHAEL BIGHAM*

Name:

 

Michael Bigham

Title:

    “INVESTOR”

By:

 

/s/ MICHAEL R. EISENSON**

Name:

 

Michael R. Eisenson

Title:

   

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“INVESTOR”

By:

 

/s/ ANDREW KAHN ***

Name:

 

Andrew Kahn

Title:

   

 

* Signing on behalf of the entities affiliated with Abingworth Management Inc.

 

** Signing on behalf of Harvard Private Capital Holdings, Inc.

 

*** Signing on behalf of Partners for Growth Managers, LLC.

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EXHIBIT A

 

Name and Address

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Shares of Registrable
Securities

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Abingworth Bioventures III A L.P.

Abingworth Management Inc.

2465 East Bayshore Road, Suite 348

Palo Alto, CA 94303

Attention: Michael Bigham

   868,846 shares

Abingworth Bioventures III B L.P.

Abingworth Management Inc.

2465 East Bayshore Road, Suite 348

Palo Alto, CA 94303

Attention: Michael Bigham

   530,376 shares

Abingworth Bioventures III C L.P.

Abingworth Management Inc.

2465 East Bayshore Road, Suite 348

Palo Alto, CA 94303

Attention: Michael Bigham

   317,700 shares

Abingworth Bioventures III Executives L.P.

Abingworth Management Inc.

2465 East Bayshore Road, Suite 348

Palo Alto, CA 94303

Attention: Michael Bigham

   13,846 shares

David W. Carter

860 Atlantic Avenue

Alameda, CA 94501

  

21,148 shares

4,813 warrants

CMEA Ventures Life Sciences 2000, Civil Law Partnership

One Embarcadero Center, Suite 3250

San Francisco, CA 94111

  

28,1531 shares

3,337 warrants

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1 Pursuant to Section 2.15 of the Agreement, the rights granted under Section 2
of the Agreement shall expire with respect to such shares of Registrable
Securities on September 5, 2005 when such shares of Registrable Securities may
be sold pursuant to Rule 144 of the Securities Act.

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CMEA Ventures Life Sciences 2000, L.P.

One Embarcadero Center, Suite 3250

San Francisco, CA 94111

  

426,0971 shares

50,518 warrants

Harvard Private Capital Holdings, Inc.

c/o Charlesbank Capital Partners, LLC

Boston, MA 02210-2203

  

1,664,034 shares

59,873 warrants

Partners for Growth Managers, LLC

180 Pacific Avenue

San Francisco, CA 94111

   180,0002

TOTAL:

   4,168,741

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2 Registrable Securities for purposes of Sections 2.6, 2.7 (participation right
only), 2.8, 2.9, 2.10, 2.11, 2.13 and 2.15 of the Agreement only.