Document:

EX-10.2

 

Exhibit 10.2

AMENDMENT TO THE COLLABORATION AND LICENSE AGREEMENT

     This AMENDMENT TO THE COLLABORATION AND LICENSE AGREEMENT (“Amendment”) is
executed to be effective this 6th day of August 2004, by and between Memory
Pharmaceuticals Corporation (“Memory”), and F. Hoffmann-La Roche Ltd. and
Hoffmann-La Roche Inc. (collectively, “Roche”).

     WHEREAS, Memory and Roche have previously entered into a Collaboration and
License Agreement (including its schedules and appendices) dated as
of the 29th
day of July 2002, by and between Memory and Roche, as amended (the
“Agreement”), which sets forth the Parties’ rights, duties and obligations
under the Agreement; and

     WHEREAS, the Parties wish to extend the term of the Research Collaboration
and to make other amendments to the Agreement; and

     NOW, THEREFORE, in consideration for the foregoing promises and for good
and valuable consideration, the receipt and sufficiency which is hereby
acknowledged, the Parties hereby agree as follows:

	1.	 	Section 7.1(c) shall be added to the Agreement as follows:
	 
	 	 	The extended term of the Research Collaboration shall be for a
period of two (2) years from September 9, 2004, through September
8, 2006 (“Extended Term”), unless this Agreement is terminated
sooner in accordance with Article 16. The total time period during
which the Research Collaboration is ongoing, including the Extended
Term, shall be referred to as the “Research Term.” The Research
Collaboration may be further extended for an additional one-year
period by mutual written agreement prior to expiration of the
Extended Term. During the Extended Term, Memory shall allocate an
average of twelve (12) FTEs on an annual basis toward work in
furtherance of the Research Collaboration. Subject to JLT
oversight and reallocation of resources based on the needs of the
research program, it is anticipated that Memory shall allocate:
three (3) FTEs for Chemistry; six (6) FTEs for
Behavior/Electrophysiology; one to two (1-2) FTEs for Molecular/In
Vitro/MoA; and one to two (1-2) FTEs for PDD/Bioanalytics. During
the first year of the Extended Term, Roche shall allocate an
average of twelve (12) FTEs on an annual basis toward work in
furtherance of the Research Collaboration. After the first year of
the Extended Term, Roche may reduce its FTEs but by no more than
fifty percent (50%) of its first-year commitment.
	 
	2.	 	Section 7.1(d) shall be added to the Agreement as follows:

 

 

	 	 	The Parties agree to conduct the Research Collaboration in
accordance with the Revised Research Workplan, attached hereto as
Appendix A. The Revised Research Workplan shall replace the
Research Workplan, attached as Schedule B of the original
Agreement. The Revised Research Workplan shall be updated
quarterly and approved by the JLT; and the approved Research
Workplan attached to the JLT minutes.
	 
	3.	 	Section 7.1(e) shall be added to the Agreement as follows:
	 
	 	 	The goals of the Research Collaboration during the Extended Term
shall include: (i) continued pre-clinical support of the compounds
previously identified for further development during the Original
Term, including additional characterization of these compounds in
pre-clinical models and mechanism of action studies; (ii)
identification and optimization of additional candidates for the
symptomatic treatment of Alzheimer’s Disease; (iii) identification
and optimization of candidates for the treatment of anxiety and
depression; (iv) evaluation of potential PDE4 inhibitors across a
range of CNS and non-CNS indications, including schizophrenia,
bipolar disorder, COPD, rheumatoid arthritis and multiple
sclerosis; and (v) continued optimization of current chemistry
templates, including work to support patent positions. More
specifically, these goals shall include the development of the
following by the end of the Extended Term: (i) at least two (2)
potential clinical candidates for anxiety and/or depression; (ii)
additional potential clinical candidates for Alzheimer’s disease,
if the JLT determines that additional candidates are required;
(iii) a pre-clinical data package sufficient to allow evaluation of
PDE4 inhibitors for utility in Other Indications; and (iv) a
pre-clinical data package sufficient to provide a mechanistic
understanding of the role of PDE4 inhibitors in cognition and mood.
	 
	4.	 	Section 7.8 shall be added to the Agreement as follows:
	 
	 	 	Research Support During the Extended Term. For the Extended Term,
Roche shall pay to Memory a total of seven million dollars (US
$7,000,000), which shall be due in eight (8) equal quarterly
installments of eight hundred and seventy-five thousand dollars (US
$875,000), commencing as of September 9, 2004. The first
installment shall be payable within thirty (30) days after the
later of (i) September 9, 2004, and (ii) receipt by Roche of an
invoice for such sums. Each subsequent installment shall be
payable within thirty (30) days after the later of (i) the
quarterly anniversary of the Effective Date and (ii) receipt by
Roche of an invoice for such sums. For avoidance of doubt, if the
Research Collaboration is terminated pursuant to section 16.3, then
Roche shall only be liable for research support funding prorated
through the date of termination. Roche’s payment obligations for
any amounts accrued and payable under this section 7.8 shall
survive any such termination. For example, if Roche terminates
this Agreement or the Research Collaboration pursuant to the last
sentence of section 16.3, by providing notice of termination on
October 9, 2005, with an effective date of termination of April 9,
2006, then Memory would be entitled to receive total

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	 	 	research funding in the amount of $5,541,666.67, and Roche would
remit a final payment equal to $5,541,666.67 less any amounts
previously paid to Memory.
	 
	5.	 	Section 8.3 shall be added as follows:
	 
	 	 	If Roche should decline to pursue clinical development of a Product
after development of an IND filing package, the Parties shall
negotiate in good faith for a period of ninety (90) days to reach
an agreement allowing Memory to pursue clinical development, at its
own cost, of such Product and granting Roche an option for a
license to such Product exercisable at some later date for a
specific period of time and on financial terms acceptable to both
Parties. The ninety-day period will begin to run from the date on
which Memory receives written notification from Roche of its
decision not to pursue clinical development of the Product.
	 
	6.	 	Section 16.3 shall be amended to add a new sentence at the
end thereof as follows:
	 
	 	 	Notwithstanding the above, Roche shall not have any unilateral
right to terminate this Agreement in its entirety or to terminate
the Research Collaboration prior to September 9, 2005. Thereafter,
Roche shall have the unilateral right to terminate this Agreement
in its entirety or to terminate the Research Collaboration upon
giving Memory at least six (6) months’ prior written notice
thereof. For the avoidance of doubt, this Amendment shall not
affect Roche’s termination rights under section 16.2 or the first
paragraph of this section 16.3.
	 
	7.	 	Entire Agreement. This Amendment (including the attached
Appendix), along with the Agreement previously executed by the
Parties, shall constitute the entire agreement between the Parties
with respect to the subject matter of the Agreement. All other
terms of the Agreement shall remain in full force and effect. To
the extent that there are any inconsistencies between the terms of
the Agreement and the terms of this Amendment, the terms of this
Amendment shall prevail in effect.

REST OF PAGE INTENTIONALLY LEFT BLANK

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     IN WITNESS WHEREOF, the parties have executed this Amendment to be
effective as of the day and year first above written.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	MEMORY PHARMACEUTICALS	 	HOFFMANN-LA ROCHE INC.
	CORPORATION	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 	/s/	Axel Unterbeck	 	By:	/s/ Dennis Burns	 	 
	 	 	
 	 	 	
 	 	 
	 	 	 	Name:	 	A. Unterbeck	 	Dennis Burns	 	 
	 	 	 	Title	 	President and CSO	 	Vice President	 	 
	 	 	 	 	 	 	 	 	Global Head of Business Development	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	F. HOFFMANN-LA ROCHE LTD	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	By:	/s/ Patrick Doyle	 	 
	 	 	 	 	 	 	 	 	 	
 	 	 
	 	 	 	 	 	 	 	 	Name:	 	Dr. Patrick Doyle	 	 
	 	 	 	 	 	 	 	 	Title:	 	Vice President	 	 
	 	 	 	 	 	 	 	 	 	 	Global Head External Research &	 	 
	 	 	 	 	 	 	 	 	 	 	Technologies	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	By:	/s/ Stefan Arnold	 	 
	 	 	 	 	 	 	 	 	 	
 	 	 
	

	 	 	 	 	 	 	 	 	 	Name:
	 	Stefan Arnold	 	 
	

	 	 	 	 	 	 	 	 	 	Title:
	 	Authorized Signatory	 	 

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Exhibit 10.3

Memory Pharmaceuticals Corp.

Notice of Stock Option Grant

Under 2004 Stock Incentive Plan

Notice is hereby given of the following option grant (the “Option”) to purchase
shares of Common Stock of Memory Pharmaceuticals Corp. (the “Company”):

Optionee: ________________________________________________________________________

Grant Date: ______________________________________________________________________

Vesting Commencement Date: _______________________________________________________

Exercise
Price: $ _______________________ per share

Number of Option Shares: ________________shares of Common Stock

Termination Date: ________________________________________________________________

Type of Option: __________ Incentive Stock Option

__________ Non-Statutory Stock Option

Vesting Schedule: The Option Shares shall initially be unvested.
The Optionee shall acquire a vested interest in the Option Shares
in a series of sixteen (16) successive equal quarterly
installments upon the Optionee’s completion of each quarter of
Service over the forty-eight (48) month period measured from the
Vesting Commencement Date, with the first installment vesting on
the three-month anniversary of the Vesting Commencement Date. In
no event shall any additional Option Shares vest after the
Optionee’s cessation of Service.

The Optionee understands and agrees that the Option is granted subject to and
in accordance with the terms of the Memory Pharmaceuticals Corp. 2004 Stock
Incentive Plan (the “Plan”). The Optionee further agrees to be bound by the
terms of the Option as set forth in this Notice of Grant and in the Stock
Option Agreement attached hereto as Exhibit A, as well as the terms of the
Plan, which is attached hereto as Exhibit B.

No Employment or Service Contract. Nothing in this Notice of Grant or in the
attached Stock Option Agreement or Plan shall confer upon the Optionee any
right to continue in Service for any period of specific duration or interfere
with or otherwise restrict in any way the rights of the Company (or any Parent
or Subsidiary employing or retaining the Optionee) or of the Optionee,

 

 

which rights are hereby expressly reserved by each, to terminate the Optionee’s
Service at any time for any reason, with or without cause.

DATED: _________________, 20___

	 	 	 	 	 	 	 
	 	 	 	 	MEMORY PHARMACEUTICALS CORP.
	 
	 	 	 	 	 	 
	

	 	 	 	By:	 	 
	

	 	 	 	 	 	
 
	 
	 	 	 	 	 	 
	

	 	 	 	Title:	 	 
	

	 	 	 	 	 	
 
	 
	 	 	 	 	 	 
	OPTIONEE	 	 	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	

	 	
 	 	 	 	 
	 
	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 
	

	 	
 	 	 	 	 
	

	 	
 	 	 	 	 
	

	 	
 	 	 	 	 

ATTACHMENTS

Exhibit A — Stock Option Agreement

Exhibit B — 2004 Stock Incentive Plan

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