Document:

exv4w9

 

Exhibit 4.9

COMMON STOCK PURCHASE AND REGISTRATION RIGHTS AGREEMENT

by and between

ARCHEMIX CORP.

and

MERCK KGaA

Dated as of [_____________]

 

 

Table Of Contents

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	SECTION 1 Definitions	 	 	1	 
	 
	 	 	 	 	 	 
	SECTION 2 Authorization, Purchase and Sale of the Shares	 	 	3	 
	 
	 	 	 	 	 	 
	2.1
	 	Purchase and Sale of the Shares	 	 	3	 
	2.2
	 	Closing	 	 	3	 
	 
	 	 	 	 	 	 
	SECTION 3 Representations and Warranties and Certain Covenants of the Company	 	 	3	 
	 
	 	 	 	 	 	 
	3.1
	 	Organization, Qualifications and Corporate Power	 	 	4	 
	3.2
	 	Authorization of Agreements, Etc	 	 	4	 
	3.3
	 	Validity	 	 	4	 
	3.4
	 	Consents	 	 	4	 
	3.5
	 	Subsidiaries	 	 	5	 
	3.6
	 	Capitalization	 	 	5	 
	3.7
	 	Litigation	 	 	5	 
	3.8
	 	Financial Statements	 	 	5	 
	3.9
	 	Taxes	 	 	5	 
	3.10
	 	Intellectual Property	 	 	5	 
	3.11
	 	Brokers	 	 	6	 
	3.12
	 	Insurance	 	 	6	 
	 
	 	 	 	 	 	 
	SECTION 4 Representations and Warranties of Purchaser	 	 	6	 
	 
	 	 	 	 	 	 
	4.1
	 	Experience	 	 	6	 
	4.2
	 	Investment	 	 	6	 
	4.3
	 	Rule 144	 	 	6	 
	4.4
	 	Access to Data	 	 	6	 
	4.5
	 	Brokers	 	 	6	 
	4.6
	 	Authorization	 	 	6	 
	 
	 	 	 	 	 	 
	SECTION 5	 	 	7	 
	 
	 	 	 	 	 	 
	5.1
	 	“Piggyback” Registration	 	 	7	 
	5.2
	 	Furnish Information	 	 	8	 
	5.3
	 	Sale or Transfer of Shares; Legend	 	 	8	 
	5.4
	 	Indemnification	 	 	9	 
	5.5
	 	Assignment of Registration Rights	 	 	11	 
	5.6
	 	“Market Stand-Off” Agreement	 	 	11	 
	5.7
	 	Termination of Registration Rights	 	 	12	 
	 
	 	 	 	 	 	 
	SECTION 6 Purchaser’s Conditions to Closing	 	 	12	 

(i)

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	6.1
	 	Representations and Warranties	 	 	12	 
	6.2
	 	Performance	 	 	12	 
	6.3
	 	Legal Investment	 	 	12	 
	6.4
	 	Proceedings and Documents	 	 	12	 
	6.5
	 	Qualifications	 	 	12	 
	 
	 	 	 	 	 	 
	SECTION 7 Company’s Conditions to Closing	 	 	13	 
	 
	 	 	 	 	 	 
	7.1
	 	Representations and Warranties	 	 	13	 
	7.2
	 	Performance	 	 	13	 
	7.3
	 	Legal Investment	 	 	13	 
	7.4
	 	Payment of Purchase Price	 	 	13	 
	 
	 	 	 	 	 	 
	SECTION 8 Miscellaneous	 	 	13	 
	 
	 	 	 	 	 	 
	8.1
	 	Governing Law	 	 	13	 
	8.2
	 	Survival	 	 	13	 
	8.3
	 	Successors and Assigns	 	 	13	 
	8.4
	 	Entire Agreement; Amendment and Waiver	 	 	13	 
	8.5
	 	Notices	 	 	14	 
	8.6
	 	Transferability of Shares	 	 	14	 
	8.7
	 	Delays or Omissions	 	 	15	 
	8.8
	 	Severability	 	 	15	 
	8.9
	 	Interpretation	 	 	15	 
	8.10
	 	Information Confidential	 	 	15	 
	8.11
	 	Further Assurances	 	 	15	 
	8.12
	 	Headings	 	 	15	 
	8.13
	 	Counterparts	 	 	15	 

Schedules

Disclosure Schedule

(ii)

 

ARCHEMIX CORP.

COMMON STOCK PURCHASE AND REGISTRATION RIGHTS AGREEMENT

     THIS COMMON STOCK PURCHASE AND REGISTRATION RIGHTS AGREEMENT dated as of [_______] (the
“Agreement”) is made by and between Archemix Corp., a Delaware corporation (the “Company”), and
Merck KGaA, a company organized under the laws of Germany (the “Purchaser”).

     WHEREAS, the Company desires to issue and sell to the Purchaser, and the Purchaser desires to
purchase, shares of the Company’s common stock, par value $.001 per share (“Common Stock”), as
provided in Section 5.1 of that certain Collaborative Research and License Agreement between the
Company and the Purchaser dated June 6, 2007.

     NOW, THEREFORE, in consideration of the premises and mutual agreements set forth herein and
for other good and valuable consideration, the receipt and sufficiency of which are hereby mutually
acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:

SECTION 1

Definitions

     1.1 For purposes of this Agreement, the following terms shall have the meanings set forth
below:

          (a) “Act” shall mean the Securities Act of 1933, as amended, or any similar federal statute
and the rules, regulations and policies of the Commission thereunder, all as the same shall be in
effect at the time.

          (b) “1934 Act” means the Securities Exchange Act of 1934, as amended, or any similar federal
statute and the rules, regulations and policies of the Commission thereunder, all as the same
shall be in effect at the time.

          (c) “Affiliate” shall mean an individual, trust, business trust, joint venture, partnership,
corporation, limited liability company, association or any other entity which (directly or
indirectly) is controlled by, controls or is under common control with the Purchaser. For the
purposes of this definition, the term “control” (including, with correlative meanings, the term
“controlled by” and “under common control with”) as used with respect to the Purchaser, means the
possession of the power to direct or cause the direction of the management and policies of an
entity, through the ownership of the outstanding voting securities or by contract or otherwise.

          (d) “By-laws” shall mean the Amended and Restated By-Laws of the Company, as amended from
time to time.

          (e) “Certificate of Incorporation” shall mean the Company’s Restated Certificate of
Incorporation on file with the Secretary of State of the State of Delaware, as amended from time
to time.

 

 

          (f) “Closing” and “Closing Date” shall have the meanings specified in Section 2.2 hereof.

          (g) “Commission” shall mean the Securities and Exchange Commission or any other federal
agency at the time administering the Act.

          (h) “Common Stock” shall have the meaning specified in the recitals.

          (i) “Competitor of the Company” shall mean a person or entity that poses a competitive threat
to the Company’s business or is engaged in the same or a substantially similar business as the
Company, as determined by the Company’s board of directors.

          (j) “Holder” means the Purchaser (so long as the Purchaser holds Registerable Securities) and
any person owning or having the right to acquire Registrable Securities or any assignee thereof in
accordance with Section 5.5 hereof.

          (k) “Purchase Price” shall have the meaning specified in Section 2.1 hereof.

          (l) “Prospectus” shall mean the prospectus contained in the Registration Statement.

          (m) “Qualified Public Offering” means the Company’s firm commitment underwritten initial
public offering filed under the Act covering the offer and sale of the Company’s Common Stock,
with gross offering proceeds to the Company of not less than $30,000,000 exclusive of any amount
issued to the Purchaser pursuant to the this Agreement.

          (n) “Registrable Securities” means (i) any shares of Common Stock issued to the Purchaser
pursuant to this Agreement, (ii) any Common Stock of the Company issued as (or issuable upon the
conversion or exercise of any warrant, right or other security which is issued as) a dividend or
other distribution with respect to, or in exchange for or in replacement of the shares referenced
in (i) above, excluding in all cases, however, any Registrable Securities sold by a person in a
transaction in which the rights under this Agreement are not assigned; provided,
however, that shares of Common Stock which are Registrable Securities shall cease to be
Registrable Securities upon any sale pursuant to a registration statement, Section 4(1) of the Act
or Rule 144 under the Act, any sale in any manner to a person or entity which, by virtue of
Section 5.5 of this Agreement, is not entitled to the rights provided by this Agreement or upon
the eligibility for sale of such shares under Rule 144(k) under the Act.

          (o) “Registration Statement” shall mean the Registration Statement on Form S-1 (File No.
333-144837) filed with the Commission relating to the Company’s initial public offering of
its Common Stock.

          (p) “Shares” shall have the meaning specified in Section 2.1 hereof.

     1.2 Certain other words and phrases are defined or described elsewhere in this Agreement and
the Exhibits and Schedules hereto.

     1.3 Wherever used in this Agreement:

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          (a) the words “include” or “including” shall be construed as also incorporating “but not
limited to” and “without limitation”;

          (b) the word “day” means a calendar day unless specified otherwise; and

          (c) the word “law” (or “laws”) means any statute, ordinance, regulation or code.

     1.4 Unless specified to the contrary, references to Articles, Sections, Schedules and/or
Exhibits mean the particular Article, Section, Schedule or Exhibit in or to this Agreement.

     1.5 References to this Agreement shall include this Agreement as varied or modified from time
to time by the parties.

     1.6 Unless the context requires otherwise, words in the singular number include the plural and
vice versa.

     1.7 All Schedules and Exhibits hereto are hereby incorporated herein and made a part hereof.

SECTION 2

Authorization, Purchase and Sale of the Shares

     2.1 Purchase and Sale of the Shares. At the Closing (as defined in Section 2.2
hereof), and subject to the terms and conditions hereof and in reliance upon the representations,
warranties and agreements contained herein, the Company shall issue and sell to the Purchaser and
the Purchaser shall purchase from the Company [________] shares of Common Stock (the “Shares”)
at a purchase price of $[_____] per share for a total purchase price of $[___________] (the
“Purchase Price”).

     2.2 Closing. The purchase and sale of the Shares being purchased by the Purchaser
shall take place at the offices of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., One
Financial Center, Boston, MA 02111, at 10:00 a.m., local time, on [_______________], or at such
other location, date and time as may be agreed upon among the Purchaser and the Company (such
closing being called the “Closing” and such date and time being called the “Closing Date”). At the
Closing, the Company shall issue and deliver to the Purchaser a certificate in definitive form,
registered in the name of the Purchaser, representing the Shares being purchased by the Purchaser
at the Closing. As payment in full for the Shares being purchased by it under this Agreement, and
against delivery of the certificate therefor as aforesaid, on the Closing Date, the Purchaser (a)
shall deliver to the Company a check payable to the order of the Company in the amount of the
Purchase Price, (b) shall transfer such amount to the account of the Company by wire transfer, or
(c) shall deliver a combination of (a) and (b) above.

SECTION 3

Representations and Warranties and Certain Covenants of the Company

     Except as set forth in any disclosure schedules delivered herewith (which shall be numbered to
correspond with the sections of this Section 3), the Company hereby represents and

3

 

warrants to and covenants to the Purchaser as follows:

     3.1 Organization, Qualifications and Corporate Power. The Company is a corporation
duly incorporated, validly existing and in good standing under the laws of the State of Delaware
and the Company is duly licensed or qualified to transact business as a foreign corporation and is
in good standing in each jurisdiction in which the nature of the business transacted by it or the
character of the properties owned or leased by it requires such licensing or qualification, except
where failure to qualify would not have a material adverse effect on the business or financial
condition of the Company. The Company has the corporate power and authority to own and hold its
properties and to carry on its business as now conducted or as planned to be conducted in the
foreseeable future, to execute, deliver and perform this Agreement and any other agreements,
documents or instruments contemplated hereby to which it is a party, to issue, sell and deliver the
Shares.

     3.2 Authorization of Agreements, Etc. 

          (a) The execution and delivery by the Company of this Agreement, the performance by the
Company of its obligations hereunder and thereunder, and the issuance, sale and delivery of the
Shares have been duly authorized by all requisite corporate action and will not violate any
provision of law, any order of any court or other agency of government specifically naming the
Company, the Certificate of Incorporation, or the By-laws or any material provision of any
indenture, agreement or other instrument which is filed as an exhibit to the Registration
Statement, or conflict with, result in a breach of or constitute (with due notice or lapse of time
or both) a default under any such indenture, agreement or other instrument, which violation,
conflict or default could have a material adverse effect on the Company, or result in the creation
or imposition of any material lien, charge, restriction, claim or encumbrance upon any of the
properties or assets of the Company.

          (b) The Shares have been duly authorized and the Shares, when issued in accordance with this
Agreement, will be validly issued, fully paid and nonassessable and free of all liens, charges,
restrictions, claims and encumbrances imposed by or through the Company. None of the issuance,
sale or delivery of the Shares is subject to any preemptive right of stockholders of the Company
or to any right of first refusal or other right in favor of any person which has not been waived.

     3.3 Validity. This Agreement has been duly executed and delivered by the Company.
This Agreement constitutes the legal, valid and binding obligations of the Company, enforceable in
accordance with its respective terms subject to bankruptcy, insolvency, reorganization, moratorium
and other similar laws affecting the rights of creditors and to general principles of equity.

     3.4 Consents. All consents, approvals, orders, or authorizations of, or
registrations, qualifications, designations, declarations, or filings with any federal or state
governmental authority, any party to a contract to which the Company is bound or any other third
party on the part of the Company required in connection with the consummation of the transactions
contemplated by this Agreement shall have been obtained prior to, and be effective as of, the
Closing (other than such filings under the “blue sky” law of any state governmental authority and

4

 

any federal securities law filings that may be made after the Closing, which such filings
shall be timely made).

     3.5 Subsidiaries. The Company has no subsidiaries other than as listed in an Exhibit
to the Registration Statement.

     3.6 Capitalization. The authorized and outstanding shares of capital stock and
options, warrants and other rights to purchase capital stock of the Company is as set forth in the
Prospectus.

     3.7 Litigation. Except as set forth in the Prospectus and required to be disclosed
therein, there is no (i) action, suit, claim, proceeding or investigation pending or, to the best
of the Company’s knowledge, threatened against the Company, at law or in equity, or before or by
any federal, state, municipal or other governmental department, commission, board, bureau, agency
or instrumentality, domestic or foreign, (ii) arbitration proceeding relating to the Company
pending under collective bargaining agreements or otherwise or (iii) governmental inquiry pending
or, to the best of the Company’s knowledge, threatened against the Company (including without
limitation any inquiry as to the qualification of the Company to hold or receive any license or
permit), and to the best of the Company’s knowledge there is no basis for any of the foregoing.

     3.8 Financial Statements. The financial statements of the Company contained in the
Prospectus (i) are true and correct in all material respects, (ii) are in accordance with the books
and records of the Company, (iii) present fairly in all material respects the financial position of
the Company on as of the dates thereof and (iv) were prepared in accordance with United States
generally-accepted accounting principles (except, with respect to any interim financial statements,
for all of the required footnotes and year end adjustments).

     3.9 Taxes. The Company has accurately prepared in all material respects and timely
filed all federal, state, county and local tax returns required to be filed by it, and the Company
has paid all taxes required to be paid by it pursuant to such returns as well as all other taxes,
assessments and governmental charges which have become due or payable, including, without
limitation all taxes which the Company is obligated to withhold from amounts owing to employees,
creditors and third parties. All such taxes with respect to which the Company has become obligated
pursuant to elections made by the Company in accordance with generally accepted practice have been
paid and adequate reserves have been established for all taxes accrued but not payable.

     3.10 Intellectual Property. The Company owns or possesses adequate licenses or other
rights to use all patents, patent applications, trademarks, trademark applications, service marks,
service mark applications, trade names, copyrights, manufacturing processes, formulae, trade
secrets, customer lists and know how (collectively, “Intellectual Property”) necessary to the
conduct of its business as conducted consistent with the description of the Company’s business as
set forth in the Prospectus. The Company has not been informed that the licenses granted by or to
the Company and listed in Section 3.10 of Schedule II are not valid and enforceable. To
the knowledge of the Company, all right, title and interest in any Intellectual Property which has
been developed by key employees or founders of the Company in their capacity as either

5

 

employees or consultants to the Company which is necessary for the conduct of the Company’s
business as conducted has been unconditionally assigned to the Company.

     3.11 Brokers. The Company has no contract, arrangement or understanding with any
broker, finder or similar agent with respect to the transactions contemplated by this Agreement.

     3.12 Insurance. The Company will use its commercially reasonable efforts to maintain
insurance with financially sound and reputable insurance companies or associations, in such amounts
and covering such risks as are adequate and customary for the type and scope of its properties and
business as currently conducted and as planned to be conducted in the foreseeable future.

SECTION 4

Representations and Warranties of Purchaser

     The Purchaser represents and warrants to the Company as follows:

     4.1 Experience. The Purchaser: (a) is an accredited investor within the definition of
Regulation D promulgated under the Act; (b) is experienced in evaluating and in investing in
developing biotechnology companies such as the Company and can afford a loss of its entire
investment; and/or (c) has a pre-existing personal or business relationship with the Company and/or
certain of its officers, directors or controlling persons of a nature and duration that enable it
to be aware of the character, business acumen and financial circumstance of such persons.

     4.2 Investment. The Purchaser is acquiring the Shares for investment for its own
account and not with the view to, or for resale in connection with, any distribution thereof. It
understands that the Shares have not been registered under the Act by reason of specified
exemptions form the registration provisions of the Act.

     4.3 Rule 144. The Purchaser acknowledges that the Shares must be held indefinitely
unless they are subsequently registered under the Act or an exemption from such registration is
available. It has been advised or is aware of the provisions of Rule 144 promulgated under the Act,
which permit limited release of shares purchased in a private placement subject to the satisfaction
of certain conditions, and is aware that such Rule may not become available for resale of the
Shares.

     4.4 Access to Data. The Purchaser has had an opportunity to discuss the Company’s
business, management and financial affairs with the Company’s management and has had the
opportunity to review the Company’s facilities.

     4.5 Brokers. The Purchaser has no contract, arrangement or understanding with any
broker, finder or similar agent with respect to the transactions contemplated by this Agreement.

     4.6 Authorization. The Purchaser has full power and authority to enter into and to
perform this Agreement in accordance with its terms. All action (corporate or otherwise) on the
part of the Purchaser necessary for the authorization, execution, delivery and performance by the
Purchaser of this Agreement and the consummation of the transactions contemplated herein has been
taken. This Agreement is valid and binding obligation of the Purchaser, enforceable in

6

 

accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and
other similar laws affecting the rights of creditors and to general principles of equity.

SECTION 5

Registration Rights

     5.1 “Piggyback” Registration.

          (a) Registration Statement. Following the consummation of a Qualified Public
Offering, if (but without any obligation to do so) the Company shall determine to register
(including for this purpose a registration effected by the Company for stockholders other than the
Holders) any of its stock or other securities under the Act in connection with the public offering
of such securities solely for cash (other than a registration or Form S-4 or S-8 or relating
solely to the sale of securities to participants in a stock plan or a registration relating solely
to a Rule 145 transaction or a registration on any form which does not include substantially the
same information as would be required to be included in a registration statement covering the sale
of the Registrable Securities), the Company shall, at such time, promptly give each Holder written
notice of such registration. Upon the written request of each Holder given within fifteen (15)
days after receipt of such notice by the Holder in accordance with Section 8.5, the Company shall,
subject to the provisions of this Section.5.1, use its reasonable best efforts to include in such
registration all of the Registrable Securities that each such Holder has requested to be
registered.

          (b) Company Deferral. If the Company shall furnish to the Holders a certificate
signed by the President of the Company stating that in the good faith judgment of the Board, it
would be seriously detrimental to the Company and its stockholders for such Holder’s shares to be
included in the registration statement to be filed and it is therefore essential to defer the
inclusion of all or some of the Holders’ Registrable Securities in such registration statement,
the Company shall have the right to exclude such number of shares as the Company deems, in its
good faith judgment, are necessary.

          (c) Underwriting Requirements. In connection with any offering involving an
underwriting of shares of the Company’s capital stock, the Company shall not be required under
this Section 5.1 to include any of the Holders’ Registrable Securities in such underwriting unless
such Holders accept the terms of the underwriting as agreed upon between the Company and the
underwriters selected by the Company (or by other persons entitled to select the underwriters and
then only in such quantity as the underwriters determine in their sole reasonable discretion will
not jeopardize the successes of their offering by the Company or such other persons). If the
total amount of securities, including Registrable Securities, requested by stockholders to be
included in an offering exceeds the amount that the underwriters determine, in their sole
reasonable discretion, is compatible with the success of the offering, then the Company shall be
required to include in the offering only that number of such securities, including Registrable
Securities, which the underwriters determine in their sole reasonable discretion will not
jeopardize the success of the offering. If the number of Registrable Securities to be included in
the underwriting in accordance with the foregoing is less than the total number of shares which
the Holders of Registrable Securities have requested to be included, then the other holders of all
other shares of capital stock with registration rights who

7

 

have requested to be included in the registration statement shall participate in the
underwriting prior to the Holders of Registrable Securities who have requested registration.

          (d) Withdrawal. Notwithstanding the foregoing provisions, the Company may withdraw
any registration statement referred to in this Section 5.1 for any reason without thereby
incurring any liability to the holders of Registrable Securities.

     5.2 Furnish Information. It shall be a condition precedent to the obligations of the
Company to take any action pursuant to this Section 5 with respect to the Registrable Securities of
any selling Holder that such Holder shall furnish to the Company such information regarding itself,
the Registrable Securities held by it, and the intended method of disposition of such securities as
shall be required to effect the registration of such Holder’s Registrable Securities.

     5.3 Sale or Transfer of Shares; Legend.

          (a) The Registrable Securities shall not be sold or transferred unless either (i) such shares
first shall have been registered under the Act, or (ii) the transfer complies with Rule 144, Rule
144A or an exemption from registration under the Act, provided that, if requested by the Company,
the Company shall have been first furnished with an opinion of legal counsel, to the effect that
such sale or transfer is exempt from the registration requirements of the Act.

          (b) Each certificate representing the Registrable Securities shall bear a legend
substantially in the following form:

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAW AND THEY MAY NOT BE OFFERED,
SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE ASSIGNED BY ANY PERSON, INCLUDING A
PLEDGEE, UNLESS (1) EITHER (a) SUCH SHARES FIRST SHALL HAVE BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR (b) THE TRANSFER COMPLIES WITH RULE 144,
RULE 144A OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND, IF REQUESTED BY THE COMPANY, THE COMPANY SHALL HAVE RECEIVED AN
OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT AN EXEMPTION FROM REGISTRATION
UNDER SUCH ACTS IS THEN AVAILABLE, AND (2) THERE SHALL HAVE BEEN COMPLIANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS.

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A COMMON STOCK PURCHASE
AND REGISTRATION RIGHTS AGREEMENT, AS AMENDED FROM TIME TO TIME (COPIES OF WHICH MAY
BE OBTAINED FROM THE COMPANY), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE
PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY
ALL THE PROVISIONS OF SUCH REGISTRATION RIGHTS AGREEMENT. THE SALE, TRANSFER,
HYPOTHECATION OR OTHER

8

 

DISPOSITION OF SUCH SHARES IS SUBJECT TO THE TERMS OF SUCH AGREEMENT AND SUCH SHARES
ARE TRANSFERABLE ONLY UPON PROOF OF COMPLIANCE THEREWITH.”

The foregoing legend shall be removed from the certificates representing any Registrable
Securities, at the request of the holder thereof, at such time as they become eligible for resale
pursuant to Rule 144(k) under the Act.

     5.4 Indemnification. In the event any Registrable Securities are included in a
registration statement under this Section 5:

          (a) To the extent permitted by law, the Company will indemnify, defend and hold harmless each
Holder, its officers, directors, employees, agents and representatives, any underwriter (as
defined in the Act) for such Holder and each person, if any, who controls such Holder or
underwriter within the meaning of the Act or the 1934 Act (each, a “Company Indemnified Person”),
against any losses, claims, damages, or liabilities (joint or several) to which they may become
subject under the Act, the 1934 Act or other federal or state law, insofar as such losses, claims,
damages, or liabilities (or actions in respect thereof) (the “Company Indemnified Amount”) arise
out of or are based upon any of the following (collectively, a “Violation”): (i) any untrue
statement of a material fact contained in such registration statement, including any preliminary
prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii)
the omission to state therein a material fact required to be stated therein, or necessary to make
the statements therein not misleading, or (iii) any violation by the Company of the Act, the 1934
Act, any state securities law or any rule or regulation promulgated under the Act, the 1934 Act or
any state securities or Blue Sky laws or any rule or regulation thereunder in connection with such
registration; and the Company will pay to each such Company Indemnified Person, as incurred, any
legal or other expenses reasonably incurred by them in connection with investigating or defending
any Company Indemnified Amount; provided, however, that the indemnity agreement
contained in this subsection 5.4(a) shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability, or action if such settlement is effected without the consent of
the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in
any such case for any such Company Indemnified Amount as to any Company Indemnified Person to the
extent such liability arises out of or is based upon a Violation (i) which occurs in reliance upon
and in conformity with written information relating to such Company Indemnified Person and
furnished expressly for use in connection with such registration by such Company Indemnified
Person or (ii) contained in a preliminary prospectus and corrected in a final or amended
prospectus if such seller, underwriter or controlling person received notice of such final or
amended prospectus prior to the effective date of the registration statement but failed to deliver
a copy of the final or amended prospectus at or prior to the confirmation of the sale of the
Registrable Securities to the person asserting any such loss, claim, damage or liability resulting
from a Violation contained in such preliminary prospectus, in any case where such delivery is
required by the Act.

          (b) To the extent permitted by law, each selling Holder will indemnify and hold harmless the
Company, each of its directors, each of its officers who has signed the registration statement,
each person, if any, who controls the Company within the meaning of

9

 

the Act, any underwriter, any other Holder selling securities in such registration statement
and any controlling person of any such underwriter or other Holder, against any losses, claims,
damages, or liabilities (joint or several) to which any of the foregoing persons may become
subject, under the Act, the 1934 Act or other federal or state law, insofar as such losses,
claims, damages, or liabilities (or actions in respect thereto) (the “Holder Indemnified Amount”)
arise out of or are based upon any Violation, in each case to the extent (and only to the extent)
that such Violation occurs in reliance upon and in conformity with written information relating to
such Holder and furnished by such Holder expressly for use in connection with such registration;
and each such Holder will pay, as incurred, any legal or other expenses reasonably incurred by any
person intended to be indemnified pursuant to this subsection 5.4(b), in connection with
investigating or defending any Holder Indemnified Amount; provided, however, that
the indemnity agreement contained in this subsection 5.4(b) shall not apply to amounts paid in
settlement of any such loss, claim, damage, liability or action if such settlement is effected
without the consent of the Holder, which consent shall not be unreasonably withheld; and
provided, that, in no event shall any indemnity under this subsection 5.4(b)
exceed the net proceeds from the offering received by such Holder.

          (c) Promptly after receipt by an indemnified party under this Section 5.4 of notice of the
commencement of any action (including any governmental action), such indemnified party will, if a
claim in respect thereof is to be made against any indemnifying party under this Section 5.4,
deliver to the indemnifying party a written notice of the commencement thereof and the
indemnifying party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume the
defense thereof with counsel mutually satisfactory to the parties; provided,
however, that an indemnified party (together with all other indemnified parties which may
be represented without conflict by one counsel) shall have the right to retain one separate
counsel, with the fees and expenses to be paid by the indemnifying party, if representation of
such indemnified party by the counsel retained by the indemnifying party would be inappropriate
due to actual or potential differing interests between such indemnified party and any other party
represented by such counsel in such proceeding. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such action, if prejudicial
to its ability to defend such action, shall relieve such indemnifying party of any liability to
the indemnified party under this Section 5.4, but the omission so to deliver written notice to the
indemnifying party will not relieve it of any liability that it may have to any indemnified party
otherwise than under this Section 5.4.

          (d) If the indemnification provided for in this Section 5.4 is held by a court of competent
jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim,
damage, or expense referred to herein, then the indemnifying party, in lieu of indemnifying such
indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified
party as a result of such loss, liability, claim, damage, or expense in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one hand and of the
indemnified party on the other in connection with the Violation that resulted in such loss,
liability, claim, damage, or expense as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and of the indemnified party shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or the omission to state a material fact relates to information

10

 

supplied by the indemnifying party or by the indemnified party and the parties’ relative
intent, knowledge, access to information, and opportunity to correct or prevent such statement or
omission; and provided, that, in no event shall any contribution under this subsection
5.4d) exceed the net proceeds from the offering received by such Holder.

          (e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection with the
underwritten public offering are in conflict with the foregoing provisions, the provisions in the
underwriting agreement shall control.

          (f) The obligations of the Company and Holders under this Section 5.4 shall survive the
completion of any offering of Registrable Securities in a registration statement under this
Section 5, and otherwise.

     5.5 Assignment of Registration Rights. Subject to Section 8.6, the rights to cause
the Company to register Registrable Securities pursuant to this Section 5 may be assigned (but only
with all related obligations) by a Holder to a Permitted Assignee (as defined below),
provided that: (a) the Company is, within a reasonable time after such transfer, furnished
with written notice of the name and address of such transferee or assignee and the securities with
respect to which such registration rights are being assigned; (b) such transferee or assignee
agrees in writing to be bound by and subject to the terms and conditions of this Agreement; (c)
such assignment shall be effective only if immediately following such transfer the further
disposition of such securities by the transferee or assignee is restricted under the Act; and (d)
such transferee or assignee is not a Competitor of the Company. For purposes of this Section 5.5 a
“Permitted Assignee” shall mean an entity that acquires all or substantially all of the ownership
interests of a Holder.

     5.6 “Market Stand-Off” Agreement. The Purchaser hereby agrees that, during the one
hundred eighty (180) day period following the effective date of the registration statement for the
Qualified Public Offering or such other period as requested of all Company executive officers
required to file Forms 3 and 4 and directors of the Company by the underwriters in the Qualified
Public Offering in order to comply with Rule 2711 of the National Association of Securities Dealers
or otherwise, the Purchaser shall not, to the extent requested by the Company and such underwriter,
directly or indirectly sell, offer to sell, contract to sell (including, without limitation, any
short sale), grant any option to purchase or otherwise transfer or dispose of (other than to donees
who agree to be similarly bound) any securities of the Company held by it at any time during such
period except Common Stock included in such registration; provided, however, that
all executive officers and directors of the Company enter into similar agreements. In addition to
the obligations under this Section, the Purchaser agrees to execute a separate agreement on form
satisfactory to such underwriter containing such covenant and obligation.

     In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions
with respect to the Registrable Securities of the Purchaser (and the shares or securities of every
other person subject to the foregoing restriction) until the end of such period.

     Notwithstanding the foregoing, the obligations described in this Section 5.6 shall not apply
to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or

11

 

similar forms which may be promulgated in the future, or a registration relating solely to SEC
Rule 145, or a transaction on Form S-4 or similar forms which may be promulgated in the future.

     5.7 Termination of Registration Rights.

          The right of any Holder to request registration or inclusion in any registration pursuant to
Section 5 shall terminate once the securities held by such Holder cease to be Registrable
Securities, and this Agreement, other than Sections 5.3, 5.6 and Sections 8.1-8.13, shall terminate
once all of the securities covered hereby cease to be Registrable Securities.

SECTION 6

Purchaser’s Conditions to Closing

     The Purchaser’s obligation to purchase Shares at the Closing is subject to the fulfillment to
its satisfaction on or prior to the Closing Date of each of the following conditions:

     6.1 Representations and Warranties. The representations and warranties contained in
Section 3 shall be true, complete and correct on and as of the Closing Date with the same effect as
though such representations and warranties had been made on and as of such date.

     6.2 Performance. The Company shall have performed and complied with all covenants,
agreements and conditions contained herein required to be performed or complied with by it prior to
or at the Closing Date.

     6.3 Legal Investment. At the time of the Closing, the purchase of the Shares shall be
legally permitted by all laws and regulations to which the Purchaser and the Company are subject.

     6.4 Proceedings and Documents. All corporate and other proceedings in connection with
the transactions contemplated hereby and all documents and instruments incident to such
transactions shall be reasonably satisfactory in form and substance to the Purchaser and its
counsel. Prior to the Closing, the Company shall have obtained all consents or waivers, if any,
necessary to execute and deliver this Agreement, issue the Shares and to carry out the transactions
contemplated hereby and thereby, and all such consents and waivers shall be in full force and
effect.

     6.5 Qualifications. All other authorizations, approvals or permits if any, of any
governmental authority or regulatory body of the United States or any state that are required prior
to and in connection with the lawful issuance and sale of the Shares pursuant to this Agreement
shall be effective on and as of the Closing Date.

12

 

SECTION 7

Company’s Conditions to Closing

     The Company’s obligation to sell the Shares at the Closing is subject to the fulfillment on or
prior to the Closing Date of each of the following conditions:

     7.1 Representations and Warranties. The representations and warranties made by the
Purchaser pursuant to Section 4 hereof shall be true and correct when made and shall be true and
correct on the Closing Date.

     7.2 Performance. The Purchaser shall have performed and complied with all covenants,
agreements and conditions contained herein required to be performed or complied with by it prior to
or at the Closing Date.

     7.3 Legal Investment. At the time of the Closing, the purchase of the Shares shall be
legally permitted by all laws and regulations to which the Purchaser and the Company are subject.

     7.4 Payment of Purchase Price. The Purchaser shall have delivered to the Company a
check or a transfer of funds to the account of the Company in the full amount of the Purchase
Price.

SECTION 8

Miscellaneous

     8.1 Governing Law. This Agreement shall be governed in all respects by the laws of the
State of Delaware without giving effect to principles of conflicts of law thereunder.

     8.2 Survival. All covenants, agreements, representations and warranties made herein,
or in any certificate or instrument delivered to the Purchaser pursuant to or in connection with
this Agreement shall not survive the execution and delivery of this Agreement.

     8.3 Successors and Assigns. Except as otherwise expressly provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns,
heirs, executors and administrators of the parties hereto. Nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto or their respective
successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this
Agreement, except as expressly provided in this Agreement. Subject to the terms of this Agreement,
no party hereby may assign its rights or obligations hereunder (whether by operation of law or
otherwise, including by merger, asset sale, sale of stock or otherwise) without the prior written
consent of the other parties hereto.

     8.4 Entire Agreement; Amendment and Waiver. This Agreement (including the Schedules
and Exhibits hereto) and the other documents delivered pursuant hereto constitute the full and
entire understanding and agreement between the parties with regard to the subjects hereof and
thereof. Neither this Agreement nor any term hereof may be amended, modified, waived or terminated,
except by a written instrument signed by the Company and the Purchaser.

13

 

     8.5 Notices. Unless otherwise provided, all notices, requests, consents and other
communications hereunder shall be in writing, shall be addressed to the receiving party’s address
set forth below or to such other address as a party may designate by notice hereunder, and shall be
either (i) delivered by hand, (ii) made by telecopy or facsimile transmission, (iii) sent by
overnight courier, or (iv) sent by registered or certified mail, return receipt requested, postage
prepaid.

	 	 	 
	If to the Company:

	 	Archemix Corp.

300 Third Street

Cambridge, MA

Attn: Chief Executive Officer

Attn: General Counsel

Facsimile: (617) 621-9300
	 
	 	 
	With a copy to:

	 	Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

One Financial Center

Boston, MA 02111

Attn: Jeffrey M. Wiesen, Esquire

Facsimile: (617) 542-2241

	 
	 	 
	If to the Purchaser:

	 	Merck KGaA

Legal Department

Frankfurter Str. 250

64293 Darmstadt

Germany

Facsimile: +49 6151 72 2373

or, in any such case, at such other address or addresses as shall have been furnished in
writing by such party to the others.

     All notices, requests, consents and other communications hereunder shall be deemed to have
been given either (i) if by hand, at the time of the delivery thereof to the receiving party at the
address of such party set forth above, (ii) if made by telecopy or facsimile transmission, at the
time that receipt thereof has been acknowledged by electronic confirmation or otherwise, (iii) if
sent by overnight courier, on the next business day following the day such notice is delivered to
the courier service, or (iv) if sent by registered or certified mail, on the fifth business day
following the day such mailing is made.

     8.6 Transferability of Shares. The Purchaser or any transferee or assignee of
Registrable Securities hereby agrees not to sell, transfer, assign, exchange, pledge, hypothecate
or otherwise dispose of the Registerable Securities, or any right or interest therein, whether
voluntary, by operation of law or otherwise, (including by merger, asset sale, sale of stock or
otherwise), except to a Permitted Assignee in accordance with Section 5.5 or with the express
written consent of the Company.

14

 

     8.7 Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to any holder of any shares upon any breach or default of the Company under this Agreement
shall impair any such right, power or remedy of such holder nor shall it be construed to be a
waiver of any such breach or default, or an acquiescence therein, or in any similar breach or
default occurring thereafter; nor shall any waiver of any single breach or default be deemed a
waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit,
consent or approval of any kind or character on the part of any holder or any breach or default
under this Agreement, or any waiver on the part of any holder of any provisions or conditions of
this Agreement must be made in writing and shall be effective only to the extent specifically set
forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to
any holder, shall be cumulative and not alternative.

     8.8 Severability. If one or more provisions of this Agreement are held to be
unenforceable under applicable law, such provision shall be excluded from this Agreement and the
balance of the Agreement shall be interpreted as if such provision were so excluded and shall be
enforceable in accordance with its terms.

     8.9 Interpretation. The parties hereby acknowledge and agree that: (i) each party
and its counsel reviewed and negotiated the terms and provisions of this Agreement and have
contributed to its revision; (ii) the rule of construction to the effect that any ambiguities are
resolved against the drafting party shall not be employed in the interpretation of this Agreement;
and (iii) the terms and provisions of this Agreement shall be construed fairly as to all parties
hereto and not in a favor of or against any party, regardless of which party was generally
responsible for the preparation of this Agreement.

     8.10 Information Confidential. The Purchaser agrees that it shall keep confidential
and shall not use any confidential, proprietary or secret information received by it with respect
to the Company which has been marked or otherwise designated as confidential, including, without
limitation, information regarding the nature of the Company’s business, financial, business
development, product and marketing strategies, financial statements and reports, or reproduce,
disclose or disseminate such information to any other person (other than to its employees, agents,
attorneys having a need to know the contents of such information or an Affiliate that is not a
Competitor of the Company), except in connection with this Agreement, unless (a) the Company has
made such information available to the public generally; (b) such Purchaser is required to disclose
such information by a governmental body; or (c) the Purchaser received such information in a lawful
disclosure from a third party after the date of this Agreement.

     8.11 Further Assurances. From and after the date of this Agreement, the Company and
the Purchaser shall execute and deliver such instruments, documents or other writings as may be
reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and
purposes of this Agreement.

     8.12 Headings. The headings and subheadings used in this Agreement are used for
convenience only and are not to be considered in construing or interpreting this Agreement.

     8.13 Counterparts. This Agreement 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

15

 

same instrument. One or more counterparts of this Agreement may be delivered via telecopier
with the intention that they shall each have the same effect as an original counterpart hereof.

[Remainder of Page Intentionally Left Blank]

16

 

     IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	COMPANY:

ARCHEMIX CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	PURCHASER:

Merck KGaA

ppa.
	 	i.V.	 	 
	 
	 

	 	 	 	 

	 	 

	 	 
	 

	 	 	 	Hans-Friedrich Geiss

Senior Vice President

Accounting & Controlling
	 	Jens Eckhardt

Legal Counsel	 	 

17exv10w14

 

Exhibit 10.14

EMPLOYMENT CONTRACT

[English Translation]

BETWEEN
:

ACCENTURE

hereafter referred to as “Accenture” on the first hand

AND :

Name:

Address:

Social Security number:

hereafter referred to as the “Partner” on the other hand

HAVE AGREED AND CERTIFY THE FOLLOWING:

Article 1 — Purpose

1.1 The Partner is bound to Accenture with an employment contract. Within the context of the
reorganization of the various international Accenture entities, the Partner and Accenture
(hereafter called “the Group”) have decided to replace the former employment contract(s) with
the present employment contract, in order to standardize the Partners’ employment contracts
clauses.

1.2 Consequently, the Partner and Accenture agree to have the present employment contract replace
all the former work contracts and their addenda.

1.3 The contractual relationship between the Partner and Accenture is ruled by the present
employment contract, as of 1st June 2001.

1.4 This employment contract is ruled by our “Convention Collective” (Collective Industry
Agreement), by all documents applicable to the Partner, and in particular our “Règlement
Intérieur” (Internal procedures and policies), by all processes applied within Accenture, by
the Group policies, and in particular all policies applying specifically to Partners, and by
the terms and conditions of this contract. All documents listed in this article are at the
Partner’s disposal in the Accenture Paris head office.

Article 2 — Nature of the Professional Duties

2.1 The Partner shall:

	 	-	 	Approach prospective customers and supervise proposals,
	 
	 	-	 	Manage the relationship between Accenture and the clients’ general and operational management,
	 
	 	-	 	Actively participate to the strategic formulations to clients,
	 
	 	-	 	Supervise the management of client consulting projects and contribute to
develop strategic scenarios,

Page 1 of 13

 

	 	-	 	Evaluate resources and time requested to fulfill the consulting mission, ensure
adequacy between the consultants’ skills and the work to be carried out, ensure work
delivered to clients is high quality and meets the clients’ need, satisfaction and
terms of the contract,
	 
	 	-	 	Supervise resources, more particularly on client projects, participate to their
professional development, monitor their work conditions and motivation,
	 
	 	-	 	Actively participate to Accenture internal management and development in
France, in particular with regards to recruiting, human resources management, sound
financial monitoring of activities and to any project, upon request from management,
	 
	 	-	 	Develop high expertise on the company strategies and on services and solutions
proposed by Accenture, by participating to Accenture international work groups,
	 
	 	-	 	Fulfill his duties diligently, whether these are mandates that have been given
to him or representation duties he has been entrusted with.

2.2. These duties are likely to evolve because of Accenture adaptability to the market constraints
on the one hand, and because of the Partner’s’ competencies and increase of his skills on the
other hand.

2.3 The Partner acknowledges he will need to deal with documents and work in English, because of
the international scope of the Group and its clients.

Article 3 — Compensation

3.1. Base Salary

3.1.1 The Partner shall receive as compensation the annual gross salary of reference shown in
Appendix A. Salary is payable over 12 months by wire transfer directly on the Partner’s bank
account.

3.1.2 The Partner and Accenture expressly agree that the legal regulations on working time are not
applicable to the Partner because of his position as “Cadre Dirigeant” (Top Executive). As a
result, the Partner will not be authorized to claim payment of overtime.

3.1.3 The Partner and Accenture agree that 10% of the above mentioned salary will be paid as an
advance payment of the non-compete clause of Article 15 of this employment contract. This
advance payment shall stop when salary payment stops. Advance payment paid to the Partner for
the duration of the present work contract will hence be considered as the financial
compensation of the non-compete clause described in Article 15 hereafter.

3.2. Monthly bonus

3.2.1 The Partner is liable to receive a monthly bonus, whose payment and gross amount shall be
discretionary and shall depend on the annual budget of the Group, set at beginning of each
fiscal year. Any monthly bonus shall be paid, if applicable, with the salary, directly on
the Partner’s bank account.

3.2.2 Notwithstanding the monthly nature of this bonus, Accenture reserves the right to cancel its
principle and implementation at each new fiscal year.

3.3. Quarterly bonus

3.3.1 The Partner is liable to receive a quarterly bonus whose payment and gross amount shall (i)
be discretionary and shall depend on the compensation policy applied in the Group and (ii) be
based on the achievements by the Group of the quarterly targets set in the annual budget of
the Group at beginning of each fiscal year.

3.3.2 Any quarterly bonus shall be paid, if applicable, 2 months after the end of the quarter
concerned, directly to the Partner’s bank account.

Page 2 of 13

 

3.4. Annual Bonus

3.4.1 The Partner is liable to receive an annual bonus whose payment and gross amount shall be
discretionary and shall depend on the compensation policy applied in the Group.

3.4.2 Consequently, it will be decided at each end of fiscal year if payment of this bonus is
appropriate and which bonus amount should be granted.

3.4.3 Each annual bonus shall be paid, if applicable, within 3 months after the end of the fiscal
year concerned, directly to the Partner’s bank account.

3.5. Terms applicable to both the quarterly and annual bonuses

3.5.1 Payment of bonuses related to budget periods which have expired before receipt by Accenture
of the Partner’s resignation letter or before receipt by the Partner of a dismissal letter,
shall be paid according to the above terms, even though the Partner is executing his notice
period or has left the firm at payment date.

3.5.2 No quarterly bonus related to a quarterly budget period shall be paid to the Partner if he
notified his resignation or was notified of his dismissal during this quarterly budget period.

3.5.3 The annual bonus due to the Partner for the fiscal year of his departure, if applicable,
will be prorated (prorata temporis) from the beginning of the fiscal year until the month
preceding the Partner’s dismissal or resignation notification. If applicable, this prorated
annual bonus shall be paid at the end of the fiscal year.

3.5.4 Bonuses due to the Partner shall be paid to him even though actual payment occurs after the
Partner left Accenture.

3.5.5 Payment of bonuses related to several budget periods, successive or not, does not open any
right for future payments.

3.6 The Partner is liable to receive shares or stock options of the Group. Grant of shares or
stock options is discretionary. Shares or stock options granted to the Partner are subject to
the rules of the “Stock Incentive Plan.”

Article 4 — Status

The Partner’s status will be “Cadre”, coefficient 270. He shall be affiliated to CRICA and UPS
(complementary retirement pension plans) and to the Accenture protection plan.

Article 5 — Duration

5.1 This employment contract is a permanent contract and shall take effect on 1st June
2001.

5.2 Each party shall be able to terminate this employment contract, provided they comply with
French regulations and our “Collective Industry agreement” regulations and rules.

5.3 Accenture reserves the right to release the Partner from executing his notice period.

Article 6 — Trial Period

The Partner shall not have a trial period, due to his experience within Accenture. The Partner’s
seniority is kept entirely.

Page 3 of 13

 

Article 7 — Work Location

7.1 The Partner shall be based in the Accenture Paris head office.

7.2 Because of the nature of his duties, the Partner is considered as mobile and shall be
requested to work and travel in France and abroad, in all Accenture offices or the Group
offices, as well as in the Group or Accenture clients’ offices and premises. The Partner
expressly acknowledges and accepts that, should Accenture wish to change the main location of
the Partner’s activities, this modification shall not constitute a substantial modification of
this employment contract and shall not open rights to perceive any related compensation,
except for possible moving allowances. Besides, should Accenture transfer its registered
office or the home office of the Partner elsewhere, this shall not constitute a substantial
modification of this employment contract.

7.3 The Partner shall have a valid passport, allowing him to travel abroad.

7.4 The Partner shall be reimbursed for his travel expenses, in accordance with the Group
policies and procedures.

7.5 Should the Partner be assigned abroad, and in accordance with the Group policies and
procedures, a tax equalization scheme is operated to guarantee fiscal and social taxes
neutrality, so that the Partner shall not bear any additional tax or gain a fiscal or social
benefit. If applicable, the Partner shall bear a hypothetical tax corresponding to the social
and fiscal taxes he would have paid, had he stayed in France. Foreign taxes shall be borne by
Accenture. Terms and conditions of the tax equalization scheme are described in the
Inter/Intra-Area Assignment Policy which can be obtained from the Human Resources Department.

7.6 The Partner authorizes Accenture to withhold from his salary the amount of the hypothetical
tax calculated according to the Inter/Intra-Area Assignment Policy.

7.7 Should the Partner leave Accenture, he shall authorize Accenture to withhold the balance due
for his hypothetical tax from his final settlement. Should the hypothetical tax balance exceed
the amount of the final settlement, the Partner shall pay the remaining balance by check.

Article 8 — General Rules on Employment Contract Termination

In the event of this employment contract termination, the Partner:

	-	 	shall be considered as resigning from all mandates and duties that
were given to him due to his position as a Partner. He shall be
considered as resigning from his mandates, in any committee or board
within Accenture or the Group, and from all his representation duties,
whether they are internal within Accenture or the Group, or external.
If required by the Accenture France Chairman, he shall write any
letter to acknowledge his resignation from these mandates or
representation duties;
	 
	-	 	shall immediately reimburse Accenture all money he owes the company.
Accenture is authorized to withhold from his final settlement the full
balance of money owed, to the limit of the legal provisions;
	 
	-	 	shall return Accenture all documents and equipment that had been given
to him to carry out his duties, in accordance with Articles 11 and 12
of this employment contract.

Article 9 — Intellectual and Industrial Property

9.1 This Article 9 applies to all work, intellectual inventions of all kinds, including know-how,
methods and methodologies, technologies, development, equipment and models, software and
related documentation, as well as all creations that can be protected by the Intellectual or
Industrial Property or by any other means (named as Creations hereafter), designed or
developed by the Partner, alone or in collaboration, in any location, within the scope of his
employment at Accenture.

Page 4 of 13

 

9.2 The Partner acknowledges that Creations he conceived alone or in collaboration, in the scope
of this employment contract or any prior Accenture employment:

	 	-	 	are produced at the initiative of Accenture and under Accenture control (and/or
the Group), and
	 
	 	-	 	shall belong to Accenture with no exception or restriction. Accenture can take
any measure to protect them. Consequently, Accenture is authorized to patent, publish,
communicate and disclose them, directly or indirectly, under Accenture name or under
the name of an entity of the Group, or to transfer them, more particularly within the
Group.

Consequently, the Partner agrees to cooperate to facilitate the protection of the Creations
in the interest of Accenture, by protecting confidentiality on these Creations, except with
Accenture Management, and by signing all necessary documents as required by Accenture during
and after employment.

9.3 If needed, and more specifically to comply with the Intellectual Property code, our
“Convention Collective” (Collective Industrial Agreement) and the Group policies and
procedures, the Partner agrees in granting Accenture, with no exceptions or restrictions and
all guarantees and related guarantees, all the rights he retains or shall retain on all
Creations of any kind — more particularly blueprints, studies, methods, documentation,
recordings, software, requirements and specifications files, databases, IT Creations,
pictures, sounds, graphics, sketches, logos, prototypes, models, screens, files and folders,
architecture, navigation, graphical chart, catalog — and inventions he conceived or shall
conceive during his employment at Accenture.

9.4 In compliance with the terms of Article L.131-3 of the Intellectual Property code, all rights
given include rights to represent, copy, adapt, integrate, digitalize and distribute all
Creations, fully or partially, as well as the development and operation rights deriving from
each element as described here below, and more particularly:

	 	-	 	the right to represent and copy with no limit, each Creation on its own, fully
or partially, or put together with one or more other elements, under any form, by all
means and processes, on any kind of existing and future medium, known or unknown, and
more particularly digital, magnetic, “optonumeric”, downloaded media, paper based or
paper derived, microfilms, videos, disks and floppy disks, DVDs, CDs, CDIs, CD Roms,
Internet, intranet, extranet, tapes, listings,
	 
	 	-	 	the right to represent and publish Creations, fully or partially, by all means
of communication, presently known or unknown, and more particularly any
telecommunications network, interactive data communication systems, downloading, remote
transmission, transmission via terrestrial network satellite or cables, on-line
networks such as Minitel, audiotext, Internet, intranet, extranet,
	 
	 	-	 	the right to adapt, modify, translate, change, combine, assemble, put together,
arrange and transcribe Creations, fully or partially, and the right to integrate them
into other works, the right to adapt, modify, develop, follow-up, and produce new
versions, use, maintenance of Creations and software, translations in all languages and
programming languages, use of algorithms, for any purpose, as well as the right to
copy, represent and market the modified, adapted new Creation or derived Creation, in
compliance with this Article 9,
	 
	 	-	 	the right to distribute, rent, lend, market and publish Creations by all means,
to anyone, free of charge or not,
	 
	 	-	 	the right to grant to any third-party all reproduction, publication or
marketing rights and all licences of any kind, on any medium, by all means,
	 
	 	-	 	the right to sell or give free of charge, all or part of the rights described
in this contract, in particular to any entity of the Group,
	 
	 	-	 	the right for Accenture to use Creations for its personal usage or for
third-parties, with no restriction,
	 
	 	-	 	more generally, the entire proprietary copyrights.

Page 5 of 13

 

9.5 All software, as well as all design and operational equipment created by the Partner, either
during his employment within or outside Accenture, or according to Accenture instructions, or
in the sphere of activity of Accenture, or thanks to knowledge and techniques and/or means
specific to Accenture, or to data provided by Accenture, expressly belong to Accenture in the
source and object version, whatever the legal protection regulations for Creations are, such
as copyright or inventions patents.

9.6 The Partner guarantees he is not bound to any agreement restricting or prohibiting him from
transferring the rights described in this contract.

9.7 This transfer of intellectual property rights is valid for the whole world and for the entire
copyright duration linked to the Creations.

9.8 The transfer of the intellectual property rights to Accenture will occur on a regular basis,
as soon as Creations and other elements are produced. Consequently, Accenture shall be
authorized to possess them, whatever their completion state is if, for any reason whatsoever,
the employment contract is terminated.

9.9 As a result to this transfer, the Partner expressly acknowledges he is prohibited from
copying or re-using, under whatever form, part or whole of the rights transferred,
notwithstanding his right to re-use experience and know-how acquired during his employment.

9.10 The Partner agrees not to claim possible moral rights on the Creations to Accenture, any
entity of the Group, Accenture or the Group Clients, or the owners of a user licence.

9.11 The financial compensation of this transfer is included in the Partner’s gross compensation,
as described in this employment contract. It may be reconsidered by both parties to be a fair
compensation for the patentable creations conceived outside the mission, for which Accenture
would get a patent.

9.12 Should the Partner contest, he shall prove his Creations do not fully belong to Accenture.

Article 10 — Software

10.1 The Partner agrees to comply with all terms and conditions of the contracts Accenture signed
(use, user licence, protection) with regards to the use of software (products, programs,
operating systems) or to which Accenture is bound within the scope of the projects.

10.2 The Partner commits to be very cautious with regards to IT risks such as fraud, viruses and
hackers for Accenture systems and networks, as well as for the clients’ systems and networks.

Article 11 — Professional Secrecy

11.1 Accenture and their employees are bound to professional secrecy. Consequently, for the
duration of the present employment contract and after its termination, the Partner is bound
not to disclose to anyone (except to those who need to be informed about the project because
of their responsibilities and duties) any information on the projects, studies, development,
consulting and software produced within Accenture (or within an entity of the Group), either
for clients or for Accenture, as he is bound to absolute professional secrecy. This applies as
well to information, results, etc. pertaining to work carried out within Accenture (or within
an entity of the Group) or at clients.

11.2 Furthermore, all necessary measures shall be taken to ensure no unauthorized third-party may
have access to any document which contains confidential information such as, among others,
those described above, information related to Accenture personnel and the Group personnel, as
well as the list of Accenture clients and clients of the Group.

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Article 12 — Confidentiality

12.1 Should the Partner terminate his employment contract with Accenture, except in the case of a
transfer to another entity of the Group or in any other situation required by Accenture, he
shall return to the Accenture France Chairman all equipment, files, projects, studies,
methodologies, developments, consulting, software and other documents produced at Accenture
(or at an entity of the Group), which he still holds.

12.2 He shall not keep any copy of the above documents and shall respect their confidentiality
even after he left, unless specifically stated otherwise in writing by Accenture beforehand,
and provided that information disclosed was legally known by the third-parties. Consequently,
he agrees not to use the content of it for his own benefit or for a third-party benefit, and
not to communicate or let communicate to anyone any information it contains. Breach of this
confidentiality clause may implicate his personal liability.

Article 13 — Exclusive Rights for the Duration of the Employment Contract

13.1 The Partner commits to devote all his working time to Accenture and to any other entity of
the Group, in order to fulfill the duties Accenture gave him in the scope of this employment
contract.

13.2 Should an Accenture client or prospective client require professional services, on a personal
basis and directly from the Partner, the Partner commits to refuse this request for him or any
third-party, and inform the Accenture France Chairman.

13.3 He is not authorized to have another professional activity, either directly or indirectly,
whether this activity is compensated or not, unless agreed otherwise in writing by the
Accenture France Chairman, beforehand.

Article 14 — Loyalty and Faithfulness Obligation

14.1 Each Partner is bound to loyalty and faithfulness to his employer, forbidding him from any
competition with his employer.

14.2 Should the Partner receive a job offer from a client, he acknowledges he shall inform
immediately the Accenture France Chairman, to comply with this commitment.

Article 15 — Non-Compete Clause

15.1 The Partner acknowledges that his activity within Accenture implies direct contacts with
Accenture clients, which gives him a wide access to know-how, techniques, marketing methods,
and more widely, to confidential information about Accenture.

15.2 He acknowledges that confidential information represents one of the major Accenture assets.
Consequently, Accenture has a legitimate concern to include a non-compete clause in this
employment contract.

15.3 Consequently, and according to the nature of his duties, should this employment contract
terminate, the Partner commits not to work, show interest or prospect directly or indirectly,
for any reason whatsoever, for his personal benefit or a third-party’s benefit, Accenture
clients, as well as prospective clients with whom he had direct contacts within the last 18
months preceding his employment contract termination. This commitment is valid for an 18-month
duration, as of the employment contract termination.

15.4 Besides, the Partner commits not to hire or hire away Accenture employees, for his own
benefit or for a third-party benefit.

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15.5 Furthermore, the Partner commits not to join or work with an Accenture competitor (see list
in Appendix B) and/or direct subsidiary or potential successor working in the same sphere of
activity, for a 12-month duration after termination of his employment contract, more
particularly as a partner, employee or consultant carrying out similar duties as the ones he
carried out within Accenture. The Partner commits not to own more than 1% of the capital of an
Accenture competitor.

15.6 These commitments are restricted to France.

15.7 Should one or more paragraphs, or part of a paragraph of this Article 15, be legally declared
as void by a valid court, this paragraph or part of a paragraph shall be considered as void
and null. This shall not have any effect on the other terms and conditions of this Article 15,
which shall remain valid and enforceable.

Article 16 — Non-Solicitation Clause

16.1 The Partner commits, for the duration of his employment contract and for a 12-months duration
after his notice period terminated, whether this notice period was executed or not, not to
solicit directly or indirectly, for his own benefit or for a third-party benefit, any client
of Accenture or the Group.

16.2 The Partner commits, for the duration of this employment contract and for a 12-months
duration after his notice period terminated, whether this notice period was executed or not,
not to hire or hire away, for his own benefit or for a third-party benefit, Accenture
employees or employees of the Group, as well as employees of Accenture clients or of clients
of the Group.

Article 17 — Independence

The Partner commits not to hold directly shares of an Accenture client company, even a few shares,
as he may work on a project allowing him to have access to financial information on this company,
other than the usual legal public information.

Article 18 — Data Protection

18.1 In the scope of the Partner’s personnel file management, professional career, performance
evaluation, professional training, compensation (salary, paid vacation, various absences), his
integration within Accenture and more widely all his professional activity within the
Accenture Group, Accenture needs to have access to, collect, process, communicate and retain
(called Data Processing hereafter) the Partner’s personal data, which he acknowledges and
accepts.

18.2 Consequently, the Partner expressly authorizes Accenture to:

	 	(a)	 	collect, process and retain his personal data,
	 
	 	(b)	 	communicate his personal data retained by Accenture to other members of
Accenture and to entities of the Group worldwide, as well as to third-parties, should
this communication prove necessary for professional purposes or to comply with legal
regulations and requirements,
	 
	 	(c)	 	more widely, manage the “Data Processing” in compliance with the legal
regulations and requirements (“Loi Informatique et Libertés” n° 78-17 of 6th
January 1978).

18.3 The Partner has a right to access and modify his personal data. To do so, he shall address to
the Human Resources Department.

18.4 Should the Partner communicate or already communicated to Accenture personal data on
third-parties such as his spouse and children, he acknowledges he duly informed these
third-parties and got their prior agreement on collection, processing, communication and
retention of their personal data by Accenture or entities of the Group.

Page 8 of 13

 

18.5 The Partner commits to collect, process, communicate and retain any personal data he had
access to for the duration of this employment contract, in compliance with the legal
regulations and requirements and the Accenture policies and procedures.

18.6 The Partner commits to use this personal data only in the scope and accomplishment of his
professional duties.

Article 19 — Use of Personal Photographs

19.1 The Partner authorizes Accenture to use, copy, publish the personal photograph he freely
provided Accenture when joining the firm, to the other Accenture members and members of
entities of the Group. Use, copy and distribution shall only be carried out in the scope of
internal and external professional activities and more specifically in the scope of activities
operated by Accenture such as meetings or project presentations to which the Partner
participated.

19.2 These use, copy and distribution shall be made on all media, and more particularly on paper
based medium, “Notes” databases, slide shows, employees photo repository, newsletters and,
after photograph was scanned or digitalized, by any other means.

19.3 The Partners understands that these use, copy and distribution of this personal photograph
can be suspended or stop any time upon his request. He shall also be able to request back his
personal photograph at any time. In any case, these use, copy and distribution shall
automatically stop upon termination of his Accenture employment, for whatever departure
reason.

Paris, 23rd May 2001

The Partner

Please write “lu et approuvé” (read and approved) above your signature

Page 9 of 13

 

APPENDIX A

As of 1st December 2003, the Partner shall receive the following annual reference salary
as compensation, as per Article 1 of the addendum to his work contract, taking effect on
1st December 2003:                      euros (gross amount)

As of 1st December 2003, the Partner shall receive a monthly variable bonus, as per
Article 2 of the addendum to his work contract taking effect on 1st December 2003 of the
following maximum amount:                      euros (gross amount)

Drawn up in duplicate in Paris on 28 November 2003, each Party keeping one original copy.

Please write “lu et approuvé” (read and approved) above your signature

Page 10 of 13

 

ADDENDUM TO THE EMPLOYMENT CONTRACT

BETWEEN
:

ACCENTURE SAS

hereafter referred to as “Accenture SAS” on the first hand

AND
:

Name:

Address:

hereafter referred to as the “Partner” on the other hand

Both Accenture SAS and the Partner shall jointly be referred to as “the Parties”

IT IS REMINDED THAT:

All Partners of the Accenture Group (hereafter called “the Group”) have made a worldwide decision
in September 2003 to modify the Partners’ compensation scheme as of 1st December 2003.

Consequently, as of 1st December 2003, this addendum to the employment contract amends
the Partner’s employment contract and its addendums, if any, with regards to all terms and
conditions on compensation.

IT HAS BEEN AGREED THE FOLLOWING:

Article 1 — Base Salary

1.1 Based on his new “Level of Responsibility” and its corresponding face value, the Partner
shall receive, as compensation, the annual reference salary shown in Appendix A of this
addendum to his employment contract.

1.2 Taking into account his professional responsibilities whose importance implies a significant
independence in his work schedule organization, his large autonomy in taking decisions and his
compensation level, the Partner’s position is “Cadre Dirigeant” (Top Executive), as per legal
regulations on working time. Consequently, the legal regulations on working time, and more
specifically on overtime, are not applicable to the Partner because of his position as “Cadre
Dirigeant". As a result, the Partner will not be authorized to claim payment of overtime.

1.3 The Partner and Accenture SAS agree that 10% of the above mentioned salary will be paid as an
advance payment of the non-compete clause described in his employment contract. This advance
payment will stop when base salary payment stops. Advance payment paid to the Partner for the
duration of the present work contract will hence be considered as the financial compensation
of the non-compete clause.

Article 2 — Monthly Variable Bonus

2.1 Due to his position, the Partner is liable to receive a variable monthly bonus whose maximum
amount is shown in Appendix A of this addendum. Payment and amount of this monthly variable
bonus shall be discretionary and set each month by Accenture SAS.

Page 11 of 13

 

2.2 Any variable monthly bonus, if applicable, will be paid directly to the Partner’s bank
account, together with his base salary.

Article 3 — Individual Performance Bonus

3.1 Taking into account his Partner position and his individual performance rating for the
previous fiscal year, the Partner is liable to receive an individual performance bonus, paid
on a monthly basis, directly to his bank account and together with his base salary.

3.2 As his individual performance is reviewed each fiscal year, the Partner acknowledges that
payment of individual performance bonuses related to previous fiscal years, successive or not,
does not open any right for future payments.

Article 4 — Quarterly Bonus Based on the Performance of the Group

4.1 If the Partner’s position was a Partner position for at least one full fiscal year, he is
liable to receive quarterly bonuses based on the performance of the Group, as of the second
fiscal year, provided his position is still a Partner position on the first day of the quarter
following the first fiscal year mentioned above.

4.2 Payment and amount of these quarterly bonuses based on the performance of the Group are
discretionary and shall depend on the compensation policy applied in the Group, as well as on
the achievements by the Group of the quarterly targets for the last 4 quarters, as set in the
annual budget of the Group at beginning of each fiscal year.

4.3 Payment of quarterly bonuses based on the performance of the Group and related to previous
fiscal years, successive or not, does not open any right for future payments.

Article 5 — Annual Variable Bonus

5.1 Due to his position, the Partner is liable to receive a variable annual bonus whose gross
amount and payment shall be discretionary and shall depend on the compensation policy applied
in the Group, as well as on the economic and financial performance of the Group confirmed at
end of each fiscal year. Consequently, it shall be decided, after public announcement of the
fiscal year earnings is made, if payment of this bonus is appropriate and which bonus amount
should be granted.

5.2 This annual bonus shall be paid only if the Partner is employed as Partner on the last day of
the fiscal year concerned. Should the Partner be appointed as Partner during the course of the
fiscal year, payment of the annual variable bonus, if applicable, shall be prorated (prorata
temporis).

5.3 No annual variable bonus shall be paid to the Partner whose employment contract terminated,
if he breached his non-compete clause, which is valid after his employment contract
terminated.

5.4 Payment of variable annual bonuses related to previous fiscal years, successive or not, does
not open any right for future payments.

Article 6 — Duration

This addendum to the employment contract and to any former addendum to this work contract cancels
and replaces all prior contractual provisions related to compensation which may have been agreed
upon with the Partner, and shall take effect on 1st December 2003, on a permanent basis.

Drawn up in duplicate in Paris on 28 November 2003, each Party keeping one original copy.

Please sign each page of the addendum with your initials and sign the last page after you wrote “lu
et approuvé” (read and approved) above your signature

Appendix A attached herewith

Page 12 of 13

 

APPENDIX A

As of 1st December 2003, the Partner shall receive the following annual reference salary
as compensation, as per Article 1 of the addendum to his work contract, taking effect on
1st December 2003:                      euros (gross amount)

As of 1st December 2003, the Partner shall receive a monthly variable bonus, as per
Article 2 of the addendum to his work contract taking effect on 1st December 2003 of the
following maximum amount:                      euros (gross amount)

Drawn up in duplicate in Paris on 28 November 2003, each Party keeping one original copy.

Please write “lu et approuvé” (read and approved) above your signature

Page 13 of 13

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