Document:

exv10w2

Exhibit 10.2

AMENDMENT NO. 5 TO DEVELOPMENT, LICENSE

AND COMMERCIALIZATION AGREEMENT

     This Amendment No. 5 (“Amendment No. 5”) to the Development, License and
Commercialization Agreement is made and effective as of the 23 day of January, 2009 (“Amendment
Effective Date”) between Idenix Pharmaceuticals, Inc., with offices at 60 Hampshire Street,
Cambridge Massachusetts 02139, USA (“Idenix US”), Idenix (Cayman) Limited with offices c/o
Walkers SPV Limited, Walker House, Mary Street, George Town, Grand Cayman, Cayman Islands
(“Idenix Cayman” and together with Idenix US, “Idenix”) and Novartis Pharma AG with
offices at Forum 1, Novartis Campus, 4056 Basel, Switzerland (“Novartis”).

INTRODUCTION

     A. Novartis and Idenix are parties to the Development, License and Commercialization Agreement
made as of 8 May, 2003, as amended by Amendment No. 1 dated as of 30 April, 2004, Amendment No. 2
dated as of 21 December, 2004, Amendment No. 3 dated as of 27 February, 2006 and Amendment No. 4
dated as of 28 September, 2007 (as so amended, the “Novartis Licence Agreement”).

     B. Idenix US has proposed to issue and sell up to US$17,000,000 in common stock, US$0.001 par
value per share, pursuant to the Financing (as defined in the Waiver and Consent).

     C. Solely in connection with the Financing and in accordance with a Waiver and Consent between
Idenix US and Novartis dated as of the Amendment Effective Date (“Waiver and Consent”),
Novartis has agreed to waive certain rights and grant certain consents under the Idenix
Pharmaceuticals, Inc. Amended and Restated Stockholders Agreement dated 27 July 2004 among Idenix
US, Novartis and certain other parties.

     D. In consideration of the Waiver and Consent, Idenix has agreed to lower one of the minimum
percentage ownership requirements applicable to the ODC Options, on the terms and conditions set
out below.

     NOW THEREFORE for and in consideration of the mutual covenants contained in this
Amendment No. 5 and in the Waiver and Consent, Idenix and Novartis agree:

     1. Amendment. Unless otherwise defined or amended by the terms of this Amendment No.
5, all initial capitalized defined terms used have the meanings as defined in the Novartis Licence
Agreement. Article I of the Novartis Licence Agreement is amended by deleting the definition of
“Majority Equity Standard Period” and restating such defined term as follows:

“Majority Equity Standard Period”. Majority Equity Standard Period
shall mean the period commencing on the Effective Date and terminating on
the later of (a) the sixtieth (60th) consecutive day on which
Novartis and its Affiliates own less than forty percent (40%) of the Voting
Stock of Idenix and (b) if applicable, the cure by Idenix of any
then-outstanding breach of its obligations under Section 4 of that certain
Stockholders’ Agreement, dated as of the date hereof, by and among Idenix
US, Novartis and the other stockholders of Idenix US signatory thereto (the
“Stockholders Agreement”); provided, that the question of
whether or not there has occurred such a breach shall be resolved under the
provisions of Section

 

 

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13.6 (unless such a determination has been made or a dispute resolution
process has been commenced under the relevant provisions of the
Stockholders’ Agreement, in which case such determination shall control).

     2. Announcements. A Party may disclose the terms of this Amendment No. 5 only if that
Party reasonably determines, based on advice from its counsel, that it is required to make the
disclosure by applicable law, regulation or legal process, including without limitation by the
rules or regulations of the US Securities and Exchange Commission (“SEC”) or similar
regulatory agency in a country other than the US or of any stock exchange or NASDAQ. The Parties
will cooperate with each other to ensure the disclosing Party discloses only those terms of this
Amendment No. 5 as the disclosing Party reasonably determines, based on advice from its counsel,
are required by applicable law, regulation or legal process to be disclosed. Each Party will
deliver to the other Party promptly any written correspondence received by it or its
representatives from the SEC, and advise the other Party promptly of any other material
communication between it or its representatives with the SEC, with respect to any confidential
treatment request with respect to this Amendment No. 5.

     3. Status. This Amendment No. 5 amends and supplements the Novartis Licence
Agreement. Except as otherwise provided for herein, the Novartis Licence Agreement remains in full
force and effect unaffected hereby. This Amendment No. 5 shall be deemed incorporated into and
become a part of the Novartis Licence Agreement and shall be subject to its terms.

     EXECUTION Idenix and Novartis have caused this Amendment No. 5 to be duly executed by
their authorized representatives, as of the date first written above.

	 	 	 	 	 
	 	IDENIX PHARMACEUTICALS, INC.

 	 
	 	By:  	/s/
John Weidenbruch	 
	 	 	Name:  	John Weidenbruch	 
	 	 	Title:  	Executive Vice President and
General Counsel	 
	 
	 	IDENIX (CAYMAN) LIMITED

 	 
	 	By:  	/s/
Jean - Pierre Sommadossi	 
	 	 	Name:  	Jean - Pierre Sommadossi	 
	 	 	Title:  	Director	 
	 
	 	NOVARTIS PHARMA AG

 	 
	 	By:  	/s/
Neil Johnston                                                     	 
	 	 	Name:  	Neil Johnston 	 
	 	 	Title:  	Head of Finance, Global
Business 
Development & Licensing	 
	 	 	 
	 	By:  	/s/
Penny Ho
 	 
	 	 	Name:  	P.A. Ho	 
	 	 	Title:  	Senior Legal Counselexv10w3

Exhibit 10.3

Idenix Pharmaceuticals, Inc.

60 Hampshire Street

Cambridge, Massachusetts 02139

23 January 2009

Novartis Pharma AG

Forum 1

Novartis Campus

CH-4056 Basel

Switzerland

			
	Attention:	 	Joseph Jimenez

Chief Executive Officer

Gentlemen,

We refer to:

	(a)	 	the Stock Purchase Agreement dated 21 March 2003 between Idenix Pharmaceuticals, Inc.
(“Idenix”), Novartis Pharma AG (“Novartis”), and certain other parties to that agreement (the
“Purchase Agreement”); and
	 
	(b)	 	the letter from Idenix to Novartis of the same date relating to Novartis’ right regarding the
appointment and removal Idenix’ Chief Financial Officer and other matters (the “Letter”).

We refer also to the Financing (as defined in the Waiver and Consent), and to Novartis’ waiver of
certain rights and grant of certain consents to Idenix under the Amended and Restated Stockholders’
Agreement dated 27 July, 2004 among Idenix, Novartis, and certain other parties to that agreement
(“Stockholders’ Agreement”), solely in connection with the Financing, as set out in a Waiver and
Consent dated as of the date of this letter between Idenix and Novartis (the “Waiver and Consent”).

In partial consideration of Novartis’ Waiver and Consent to the proposed Financing, Idenix and
Novartis agree that:

	1.	 	The IPO (as defined in the Letter) took place in 2004 and the members of Idenix’s board of
directors designated by Novartis approved the IPO.
	 
	2.	 	The reference to “50%” in clause (y) of paragraph 2 of the Letter is hereby amended to “forty
percent (40%)”.
	 
	3.	 	Except as amended by this letter, the Letter, including paragraph 3 which sets out Idenix’
agreement with regard to its practice in connection with the preparation of financial
statements and reports, remains in full force and effect.

This letter is subject to and interpreted in accordance with the substantive laws of the

 

 

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State of New York.

If the above correctly states the agreement between Idenix and Novartis, please countersign this
letter in the space indicated below, whereupon this letter shall constitute a binding agreement
between Idenix and Novartis.

Yours sincerely,

IDENIX PHARMACEUTICALS, INC

	 	 	 	 	 
	 	 	 
	By:  	/s/
Jean-Pierre Sommadossi	 	 
	 	Jean-Pierre Sommadossi, Ph.D.

Chairman of the Board and Chief Executive Officer
	 	 

Acknowledged and agreed as of the date of this letter:

NOVARTIS PHARMA AG

	 	 	 	 	 
	 	 	 
	By:  	/s/
Neil Johnston	 	 
	 	Name:  Neil Johnston	 	 
	 	Title:  Head of Finance,
Global Business Development & Licensing	 	 
	 
	 	 	 
	By:  	/s/
Penny Ho	 	 
	 	Name:  P.A. Ho	 	 
	 	Title:  Senior Legal
Counselexv4w4

Exhibit 4.4

AMENDMENT NO. 2 TO AMENDED AND RESTATED RIGHTS AGREEMENT

     THIS AMENDMENT NO. 2 TO AMENDED AND RESTATED RIGHTS AGREEMENT (this “Amendment”) is dated as
of January 22, 2009, and is made among BIOGEN IDEC INC., a Delaware corporation (f/k/a Idec
Pharmaceuticals Corporation, the “Company”), and MELLON INVESTOR SERVICES LLC, a New Jersey limited
liability company, as Rights Agent (f/k/a ChaseMellon Shareholder Services, LLC, the “Rights
Agent”), with reference to the following facts:

     A. The Company and the Rights Agent entered into that certain Amended and Restated Rights
Agreement (the “Rights Agreement”), dated as of July 26, 2001, and further amended as of June 20,
2003. Capitalized terms used without definition herein have the meanings ascribed to such terms in
the Rights Agreement.

     B. Pursuant to Section 27 of the Rights Agreement, the Company may from time to time
supplement or amend the Rights Agreement at any time prior to a Distribution Date (which has not
yet occurred);

     NOW, THEREFORE, the Company and the Rights Agent hereby agree as follows:

     1. Final Expiration Date. Section 7(a) of the Rights Agreement is hereby amended to replace
the date July 26, 2011 with January 30, 2009, so that the defined term “Final Expiration Date”
shall mean January 30, 2009.

     2. Conforming Changes. The Exhibits to the Rights Agreement shall be restated to reflect
this Amendment, including all conforming changes.

     3. Effectiveness. This Amendment shall be deemed effective as of the date first set forth
above, as if executed and delivered on such date. Except as amended hereby, the Rights Agreement
shall remain in full force and effect and otherwise be unaffected hereby.

     4. Governing Law. The Amendment shall be deemed to be a contract made under the laws of the
State of Delaware and for all purposes shall be governed by and construed in accordance with the
laws of such state applicable to contracts to be made and to be performed entirely within such
state.

     5. Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed
an original, and all of which together shall constitute one instrument.

 

 

     IN WITNESS WHEREOF, this Amendment is executed as of the date first set forth above.

	 	 	 	 	 
	THE COMPANY:

	 	THE RIGHTS AGENT:	 	 
	 
	 	 	 	 
	BIOGEN IDEC INC.,

	 	MELLON INVESTOR SERVICES LLC,	 	 
	a Delaware corporation

	 	a New Jersey limited liability company	 	 
	 
	 	 	 	 
	By: /s/ Paul J. Clancy
 

	 	By: /s/ Mark Cano
 

	 	 
	 
	 	 	 	 
	Name: Paul J. Clancy

	 	Name: Mark Cano	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Title: Chief Financial Officer

	 	Title: Relationship Manager

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