Exhibit 10.2

 

EXECUTION VERSION

 

NEOS THERAPEUTICS, INC.

 

AMENDMENT AND WAIVER

 

This Amendment and Waiver, effective as of February 5, 2016 (the “Amendment”),
is executed by the undersigned Investors and Neos Therapeutics, Inc., a Delaware
corporation (the “Company”).  Reference is hereby made to that certain Amended
and Restated Investor Rights Agreement, dated as of June 9, 2015 (the “Rights
Agreement”), by and among the Company and the investors listed on Exhibit A
thereto (each, an “Investor”).  Capitalized terms used herein that are not
otherwise defined shall have the meaning ascribed thereto in the Rights
Agreement.

 

WHEREAS, Section 6.6 of the Rights Agreement may be amended or terminated and
the observance of any term thereof may be waived (either generally or in a
particular instance and either retroactively or prospectively) only by a written
instrument executed by (i) the Company and (ii) the holders of a majority of the
then outstanding shares of Series B Preferred Stock, Series B-l Preferred Stock
and Series C Preferred Stock, acting together as a single class held by the
Investors.

 

WHEREAS, there are no outstanding shares of Series B Preferred Stock, Series B-l
Preferred Stock and Series C Preferred Stock since all such shares automatically
converted into shares of Common Stock of the Company upon the consummation of
the IPO;

 

WHEREAS, the Company and the Investors intended for any waiver or amendment of
the Rights Agreement pursuant to Section 6.6 following conversion of the
Series B Preferred Stock, Series B-l Preferred Stock and Series C Preferred
Stock to require the approval of (i) the Company and (ii) the holders of a
majority of the Registrable Securities then outstanding which are held by
Investors who held shares of Series B Preferred Stock, Series B-l Preferred
Stock and Series C Preferred Stock immediately prior to the consummation of the
IPO;

 

WHEREAS, the Company and, to the extent required, the undersigned Investors
wish, on behalf of themselves and all other Investors, to amend Section 6.6 of
the Rights Agreement to clarify that the Rights Agreement may be amended by the
(i) Company and (ii) the holders of a majority of the Registrable Securities
then outstanding which are held by Investors who held shares of Series B
Preferred Stock, Series B-l Preferred Stock and Series C Preferred Stock
immediately prior to the consummation of the IPO;

 

WHEREAS, Section 2.2 of the Rights Agreement provides that in the event the
Company determines to register any of its stock or other securities under the
Securities Act, in connection with a public offering of such securities, the
Company shall, subject to the terms and limitations in the Rights Agreement,
include in such registration Registrable Securities owned by each holder to the
extent requested by such holder (the “Registration Rights”);

 

WHEREAS, the Company is requesting to the extent required that pursuant to
Section 6.6 of the Rights Agreement, as amended by this Amendment, the Investors
constituting the holders of a majority of the Registrable Securities then
outstanding which are held by Investors who held shares of Series B Preferred
Stock, Series B-l Preferred Stock and Series C Preferred Stock immediately prior
to the consummation of the IPO, as of the date hereof, waive their Registration
Rights, rights to notices and any related rights with respect to the currently
contemplated registration of common stock to be issued by the Company pursuant
to a registration statement on Form S-1 filed by the Company on January 29,
2016  and one or more additional registration statements pursuant to
Rule 462(b) of the Securities Act with respect thereto (collectively, the
“Registration”);

 

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WHEREAS, the undersigned Investor wishes, on behalf of itself and, to the extent
applicable, all other holders, to waive its Registration Rights pursuant to
Section 6.6 of the Rights Agreement and any related rights with respect to the
Registration; and

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and, to the extent required, the
undersigned investors hereby agree as follows:

 

1.                                      The first paragraph of Section 6.6 of
the Rights Agreement is hereby deleted in its entirety and replaced as follows:

 

“6.6                         Amendment, Termination and Waivers.  This Agreement
may be amended or terminated and the observance of any term hereof may be waived
(either generally or in a particular instance and either retroactively or
prospectively) only by a written instrument executed by (i) the Company and
(ii) the holders of a majority of the Registrable Securities then outstanding
which are held by Investors who held shares of Series B Preferred Stock,
Series B-l Preferred Stock and Series C Preferred Stock immediately prior to the
consummation of the IPO. Notwithstanding the foregoing:”

 

2.                                      Section 2.12 of the Rights Agreement is
hereby deleted in its entirety and replaced as follows:

 

“2.12                  Termination of Registration Rights.  The right of any
Holder to request registration or inclusion of Registrable Securities in any
registration pursuant to Section 2.1 or Section 2.2 shall terminate upon the
earlier of (a) such time as Rule 144 or another similar exemption under the
Securities Act is available for the sale of all of such Holder’s shares without
limitation during a three-month period without registration, and (b) the fifth
anniversary of the IPO.”

 

3.                                      The Company and, to the extent required,
the undersigned Investors, pursuant to the terms of the Rights Agreement, as
amended by this Amendment, hereby waives, and agrees to waive, on behalf of
themselves and, to the extent applicable, all other holders, any and all rights
under the Rights Agreement with respect to the Registration, including, without
limitation, the Registration Rights, any rights to receive notice of the
Registration or notice of the Registration Rights and any rights to include any
Registrable Securities in the Registration.

 

4.                                      Each undersigned Investor hereby
certifies with respect to itself that the number of shares of Common Stock of
the Company set forth on the signature page hereto represent all of the
outstanding capital stock of the Company owned by such Investor as of the date
hereof.

 

5.                                      Except as expressly provided herein, all
other terms and conditions in the Rights Agreement shall remain in full force
and effect, and this Amendment shall be effective as of the date hereof.

 

[Signature Page to Follow]

 

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NEOS THERAPEUTICS, INC.

 

 

By:

/s/Richard Eisenstadt

 

Name:

Richard I. Eisenstadt

 

Title:

Chief Financial Officer

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

/s/Jack Schuler

 

Number of Shares Owned: 1,071,652

Name:

Jack W. Schuler

 

1,044,578 from B, B-1, C

Date:

February 1, 2016

 

 

 

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

ENTITY NAME:

 

 

 

 

 

/s/Jack Schuler

 

Number of Shares Owned: 41,665

Name:

JS Grandchildren 2010 Continuation Trust

 

 

Title:

 

 

 

Date:

February 1, 2016

 

 

 

 

 

ENTITY NAME:

 

 

 

 

 

/s/Jack Schuler

 

Number of Shares Owned: 41,665

Name:

Schuler Grandchildren LLC

 

 

Date:

February 1, 2016

 

 

 

 

 

ENTITY NAME:

 

 

 

 

 

/s/Jack Schuler

 

Number of Shares Owned: 41,665

Name:

Tanya Eve Schuler Trust

 

 

Date:

February 1, 2016

 

 

 

 

 

ENTITY NAME:

 

 

 

 

 

/s/Jack Schuler

 

Number of Shares Owned: 41,665

Name:

Therese Heidi Schuler Trust

 

 

Date:

February 1, 2016

 

 

 

 

 

ENTITY NAME:

 

 

 

 

 

/s/Jack Schuler

 

Number of Shares Owned: 41,665

Name:

Hans Schuler Trust

 

 

Date:

February 1, 2016

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

 

 

 

 

 

Number of Shares Owned:

Name:

 

 

Date:

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

ENTITY NAME: JOHN PATIENCE TRUST

 

 

 

 

 

 

 

 

By:

/s/John Patience

 

Number of Shares Owned:   467,848 B, B-1, C

Name:

John Patience

 

 

Title:

Trustee

 

 

Date:

2/1/2016

 

 

 

 

 

 

 

 

ENTITY NAME: PATIENCE ENTERPRISE L.P.

 

 

 

 

 

 

 

 

By:

/s/John Patience

 

Number of Shares Owned:   229,166 B, B-1, C

Name:

John Patience

 

 

Title:

Trustee

 

 

Date:

2/1/2016

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

 

 

 

/s/Alan Heller

 

Number of Shares Owned:  212,789 from B, B-1, C

Name:

Alan Heller

 

 

Date:

2-1-16

 

 

 

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

ENTITY NAME:

 

 

 

 

 

 

 

 

By:

 

 

Number of Shares Owned:

Name:

 

 

 

Title:

 

 

 

Date:

 

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

 

 

 

/s/ Greg Robitaille

 

Number of Shares Owned: 22,115 from B/B1/C

Name:

Greg Robitaille

 

 

Date:

Feb. 1, 2016

 

 

 

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

ENTITY NAME:

 

 

 

 

 

 

 

 

By:

 

 

Number of Shares Owned:

Name:

 

 

 

Title:

 

 

 

Date:

 

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

 

 

 

 

 

Number of Shares Owned:

Name:

 

 

Date:

 

 

 

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

ENTITY NAME: Burrill Life Sciences Capital Fund III, L.P.

 

 

 

 

 

 

 

 

By:

/s/Caley Castelein

 

Number of Shares Owned: 1,282,737

Name:

Caley Castelein

 

 

Title:

Managing Director of the General Partner

 

 

Date:

2/1/2016

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

 

 

 

 

 

Number of Shares Owned:

Name:

 

 

Date:

 

 

 

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

ENTITY NAME: SIU Capital LLC

 

 

 

 

 

 

 

 

By:

/s/ Ralph Iannelli

 

Number of Shares Owned:

Name:

Ralph Iannelli

 

 

Title:

Manager

 

 

Date:

2/2/2016

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

 

 

 

 

 

Number of Shares Owned:

Name:

 

 

Date:

 

 

 

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

ENTITY NAME: Esssex Capital Corporation

 

 

 

 

 

 

 

 

By:

/s/ Ralph Iannelli

 

Number of Shares Owned:

Name:

Chief Executive Officer

 

 

Title:

Manager

 

 

Date:

2/2/2016

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

 

 

 

 

 

Number of Shares Owned:

Name:

 

 

Date:

 

 

 

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

ENTITY NAME: KF Investment Partners L.P.

 

 

 

 

 

 

 

 

By:

/s/ Ralph Iannelli

 

Number of Shares Owned:

Name:

Ralph Iannelli

 

 

Title:

General Partner

 

 

Date:

2/2/2016

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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INVESTOR:

 

If an individual, use the following:

 

 

 

 

 

 

 

 

 

 

Number of Shares Owned:

Name:

 

 

Date:

 

 

 

 

 

 

 

 

If an entity, use the following:

 

 

 

 

 

Presidio Partners 2007, L.P.

 

 

By: Presidio Partners 2007, GP, L.P.,

 

 

Its General Partner

 

 

By: Presidio Partners 2007, GP, LLC,

 

 

Its General Partner

 

 

 

 

 

 

 

 

By:

/s/ James Watson

 

Number of Shares Owned: 1,636,372

Name:

James F. Watson

 

 

Title:

Manager

 

 

Date:

February 3,2016

 

 

 

 

 

 

 

 

Presidio Partners 2007 (Parallel, L.P.)

 

 

By: Presidio Partners 2007, GP, L.P.,

 

 

Its General Partner

 

 

By: Presidio Partners 2007, GP, LLC,

 

 

Its General Partner

 

 

 

 

 

 

 

 

By:

/s/ James Watson

 

Number of Shares Owned: 41,956

Name:

James F. Watson

 

 

Title:

Manager

 

 

Date:

February 3,2016

 

 

 

[Signature Page to Neos Therapeutics, Inc. Registration Rights Waiver]

 

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