Document:

EX-10.1

 Exhibit 10.1 

FIRST AMENDMENT 
 TO

 STOCK PURCHASE AGREEMENT 

THIS FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT (this “Amendment”), dated and effective as of September 30, 2014, is by
and among CLIMAX ENGINEERED MATERIALS, LLC, a Colorado limited liability company (the “Seller”), FREEPORT MINERALS CORPORATION, a Delaware corporation (“Freeport Minerals”), DYNACAST LLC, a Delaware limited
liability company (the “Purchaser”), and DYNACAST INTERNATIONAL INC., a Delaware corporation and parent of the Purchaser (“Dynacast”). 

RECITALS 
 WHEREAS, the
Seller, Freeport Minerals, the Purchaser and Dynacast are parties to the Stock Purchase Agreement, dated August 27, 2014 (the “Purchase Agreement”), relating to the sale and purchase of all of the outstanding stock of Kinetics
Climax, Inc. (the “Company”); and 
 WHEREAS, the parties desire to amend the Purchase Agreement to evidence their mutual
agreement as provided herein. 
 NOW, THEREFORE, the parties agree as follows: 

1. Definitions. Initially capitalized terms used in this Amendment but not otherwise defined shall have the meanings ascribed to
them in the Purchase Agreement, as amended or supplemented herein. 
 2. Amendments to the Purchase Agreement. 

a. Section 1.2 of the Purchase Agreement is hereby amended to add the following sentence: 

“Unless otherwise agreed by the parties, the Closing will take place at 11:00 a.m. Eastern Time.” 

b. Section 1.3(a)(i) of the Purchase Agreement is hereby deleted in its entirety and replaced as follows: 

“(i) $45,000,000 (the “Base Purchase Price”)” 

c. Section 1.3(b) of the Purchase Agreement is hereby deleted in its entirety and replaced as follows: 

“(b) Estimated Fixed Purchase Price. Exhibit 1.3(b) sets forth the estimated Closing Date balance sheet, which sets forth
the estimated Closing Date Working Capital and the additional amounts (other than 

 
Working Capital) to be included in the calculation of the Fixed Purchase Price in accordance with Section 1.3(a), and a corresponding estimate of the Fixed Purchase Price (the
“Estimated Fixed Purchase Price”) (the parties have agreed that Seller may use as the estimates the relevant amounts as of the close of business on August 31, 2014).” 

d. The Exhibits to the Purchase Agreement are hereby amended to add “Exhibit 1.3(b)”, attached hereto as
Exhibit A. 
 e. Section 1.4(a)(i) of the Purchase Agreement is hereby deleted in its entirety and replaced as
follows: 
 “(i) Contingent Purchase Price: if, and only if, 2015 Adjusted EBITDA is equal to or greater than $4,500,000, an
amount equal to the sum of (i) the product of (A) ten multiplied by (B) the difference (if any) between 2015 Adjusted EBITDA and $4,500,000, plus (ii) an amount calculated in accordance with Exhibit 1.4(a)(i);
provided, that the maximum Contingent Purchase Price payable is $15,000,000.” 
 f. The Exhibits to the Purchase Agreement are
hereby amended to add “Exhibit 1.4(a)(i)”, attached hereto as Exhibit B. 
 g. Section 1.4(a)(ii)
of the Purchase Agreement is hereby amended to replace the term “Specified Customer EBITDA” with “Specified Customers EBITDA”. 

h. Exhibit 1.4(a)(ii)(1) to the Purchase Agreement is hereby deleted in its entirety and replaced with
“Exhibit 1.4(a)(ii)(1)”, attached here to as Exhibit C. 
 i. Section 2.6(a) of the Purchase
Agreement is hereby deleted in its entirety and replaced as follows: 
 “(a) Schedule 2.6(a) contains (i) the audited
balance sheets of the Company as of December 31, 2013 and 2012 and the related audited statements of income, stockholder’s equity and cash flows of the Company for the years ended December 31, 2013 and 2012 (the “Annual
Financial Statements”), and (ii) the reviewed balance sheet of the Company as of June 30, 2014, the related reviewed statements of income for the three- and six-month periods ended June 30, 2014 and 2013, and the related
statements of stockholder’s equity and cash flows for the six-month periods ended June 30, 2014 and 2013 (the “Interim Financial Statements” and together with the Annual Financial Statements, the “Financial
Statements”). The Financial Statements have been prepared in accordance with GAAP and fairly present the financial position and the results of the operations of the Company as of the respective dates and for the periods indicated except as
otherwise stated therein. The Company has no liabilities or obligations with respect to Debt.” 

 j. The second sentence of Section 2.6(b) of the Purchase Agreement is hereby deleted
in its entirety and replaced as follows: 
 “Except as set forth on Schedule 2.6(b), the Company maintains a system of
accounting and internal controls sufficient in all material respects to provide reasonable assurances that (i) financial transactions are executed in accordance with the general and specific authorization of the management of the Company, and
(ii) all transactions are recorded as necessary to permit the preparation of financial statements in conformity with GAAP and other legal and accounting requirements applicable to the Company and to maintain proper accountability for
items.” 
 k. Schedule 2.6 to the Purchase Agreement is hereby deleted in its entirety and replaced with
“Schedule 2.6(a)” and “Schedule 2.6(b)”, attached hereto as Exhibit D and Exhibit E, respectively. 

l. Schedule 2.18 to the Purchase Agreement is hereby amended and supplemented to add the information set forth on Exhibit
F. 
 m. Exhibit 4.8 to the Purchase Agreement is hereby deleted in its entirety and replaced with “Exhibit
4.8”, attached hereto as Exhibit G. 
 n. Section 4.9 of the Purchase Agreement is hereby deleted in its
entirety and replaced as follows: 
 “Section 4.9 [intentionally omitted].” 

o. Section 6.4(d) of the Purchase Agreement is hereby deleted in its entirety and replaced as follows: 

“(d) [intentionally omitted].” 

p. For avoidance of doubt, Section 6.4(f) of the Purchase Agreement is hereby amended to add the following at the beginning of
the sentence: 
 “From the date of this Agreement to the Closing,” 

q. Article VIII of the Purchase Agreement is hereby amended to delete the definition of “Audited Financial Statements” in
its entirety. 

 r. Article VIII of the Purchase Agreement is hereby amended to add the following
definition: 
 “Amendment: the First Amendment to Stock Purchase Agreement, dated September 30, 2014, by and among the Seller,
Freeport Minerals, the Purchaser and Dynacast.” 
 s. Article VIII of the Purchase Agreement is hereby amended to revise the
definition of “Target Working Capital” as follows: 
 “Target Working Capital: $8,931,574.” 

t. Section 9.5 of the Purchase Agreement is hereby deleted in its entirety and replaced as follows: 

“Section 9.5 Expenses. Except as expressly provided herein and in Exhibit 9.5, whether or not the transactions contemplated
herein shall be consummated, each party shall pay its own expenses, costs and fees incident to the preparation and performance of this Agreement, provided that the Purchaser shall be responsible for all filing fees in connection with any filings
with Governmental Authorities required to consummate the transactions contemplated by this Agreement.” 
 u. The Purchase
Agreement is hereby amended to add “Exhibit 9.5”, attached hereto as Exhibit H. 
 3. Applicable Law.
This Amendment shall be construed, performed and enforced in accordance with the Laws of the State of Delaware without giving effect to its principles or rules of conflict of laws to the extent such principles or rules would require or permit the
application of the Laws of another jurisdiction. 
 4. Extent of Amendments and References. Except as otherwise expressly
provided herein, the Purchase Agreement is not amended, modified or affected by this Amendment. Except as expressly set forth herein, all of the terms, conditions, covenants, representations, warranties and all other provisions of the Purchase
Agreement are herein ratified and confirmed and shall remain in full force and effect. From and after the effectiveness of this Amendment, the terms “this Agreement,” “hereof,” “herein,” “hereunder” and terms
of like import, when used herein or in the Purchase Agreement shall, except where the context otherwise requires, refer to the Purchase Agreement as amended by this Amendment. 

5. Counterparts. This Amendment may be executed in counterparts, each of which shall constitute one and the same Amendment. 

[Signature page follow] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date
first written above. 
  

					
	CLIMAX ENGINEERED MATERIALS, LLC
	By:	 	Climax Molybdenum Company, its manager
			
		 	By:	 	 /s/ David H. Thornton

		 	Name:	 	David H. Thornton
		 	Title:	 	President
	
	FREEPORT MINERALS CORPORATION
		
	By:	 	 /s/ Kathleen L. Quirk

	Name:	 	Kathleen L. Quirk
	Title:	 	Executive Vice President, Treasurer
	
	DYNACAST LLC
		
	By:	 	 /s/ Adrian D. Murphy

	Name:	 	Adrian D. Murphy
	Title:	 	EVP, CFO
	
	DYNACAST INTERNATIONAL INC.
		
	By:	 	 /s/ Adrian D. Murphy

	Name:	 	Adrian D. Murphy
	Title:	 	EVP, CFOEX-4.2

 Exhibit 4.2 

INVESTOR RIGHTS AGREEMENT 

INVESTOR RIGHTS AGREEMENT (the “Agreement”) made and entered into as of December     , 1995, by and among
FIBROGEN, INC., a Delaware corporation (the “Company”), and the parties who have executed this Agreement as Investors (the “Investors”). 

THE PARTIES AGREE AS FOLLOWS: 
 ARTICLE 1 

DEFINITIONS 
 As used in this
Agreement, the following terms shall have the following respective meanings: 
 1.1 “Commission” shall mean the Securities
and Exchange Commission or any other federal agency at the time administering the Securities Act. 
 1.2 “Holder” shall
mean any holder of outstanding Registrable Securities which have not been sold to the public but only if such holder is an Investor or an assignee or transferee of registration rights permitted by Section 2.10. 

1.3 “Piggy-back Registration” shall have the meaning set forth in Section 2.1. 

1.4 “Registration Expenses” shall have the meaning set forth in Section 2.5. 

1.5 “Registrable Securities” shall mean all Common Stock of the Company issued or issuable upon conversion of the
Company’s Series B Preferred Stock, including Common Stock issued pursuant to stock splits, stock dividends and similar distributions with respect to the Registrable Securities, and any 

 
securities of the Company granted registration rights pursuant to Section 3.9 of this Agreement. 

1.6 “Securities Act” shall mean the Securities Act of 1933, as amended, or any similar federal statute, and the rules and
regulations of the Commissioner thereunder, all as the same shall be in effect at the time. 
 ARTICLE 2 

REGISTRATION RIGHTS 
 2.1
Piggy-back Registration. If at any time the Company proposes to file a registration statement under the Securities Act with respect to an offering of its Common Stock (i) for the Company’s own account (other than a registration
statement on Form 5-4 or 5-8 or any substitute form that may be adopted by the Commission or a registration statement with respect to the first registered offering of the Company’s Common Stock to the public) or (ii) for the account of any
holders of its Common Stock, then the Company shall give written notice of such proposed filing to each Holder as soon as practicable (but in no event less than ten days before the anticipated filing date), and such notice shall offer each Holder
the opportunity to register such number of shares of Registrable Securities as such Holder may request on the same terms and conditions as the Company’s or such holder’s registration (a “Piggy-back Registration”);
provided, that the Holders shall have this right only (i) after the Company’s initial public offering, and (ii) if the underwriters for the primary offering approve that secondary shares be included. 

  
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 2.2 Underwriting. If the registration of which the Company gives notice is for a
registered public offering involving an underwriting, the Company shall so advise the Holders as a part of the written notice given pursuant to Section 2.1. In such event, the right of any Holder to registration pursuant to this Section 2
shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities
through such underwriting shall (together with the Company and the other holders of securities of the Company with registration rights to participate therein distributing their securities through such underwriting) enter into an underwriting
agreement in customary form with the representative of the underwriter or underwriters selected by the Company. 
 2.3 Reduction of
Offering. Notwithstanding anything contained herein, if the managing underwriter of an offering described in Section 2.2 hereof delivers a written opinion to the Company that the amount of Registrable Securities requested to be included in
such offering by the Holders, the Company and any other persons exceeds the amount of such Registrable Securities which can be successfully sold in such offering, then the amount of Registrable Securities to be offered for the account of each Holder
shall be reduced to the extent necessary to reduce the total amount of securities to be included in such offering to the amount recommended by such managing underwriter; provided, that the proportion by which the amount of such Registrable
securities intended to be offered for the account of each participating 

  
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Holder is reduced shall not exceed the proportion by which the amount of such securities intended to be offered for the account of each other Holder or person is reduced. 

2.4 Plan of Distribution. The Company may require, as a condition precedent to its registration obligations under this Article 2, that
each Holder promptly furnish in writing to the Company such information regarding such Holder, the plan of distribution of the Registrable Securities and other information as the Company may from time to time reasonably request or as may be legally
required in connection with such registration. 
 2.5 Registration Expenses. All expenses incurred by the Company in connection with
the Company’s performance of or compliance with this Article 2, including, without limitation: (i) all registration and filing fees (including for filings with the Commission or the National Association of Securities Dealers, Inc.),
(ii) fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel in connection with blue sky qualifications of the Registrable Securities), (iii) printing expenses,
(iv) fees and expenses incurred in connection with the listing of the Registrable Securities, and (v) fees and expenses of counsel and independent certified public accountants for the Company (all such expenses being herein called
“Registration Expenses”), shall be paid by the Company except as otherwise expressly provided in this Section 2.5. Each participating Holder shall pay any underwriting fees, discounts or commissions attributable to the sale of
Registrable Securities and any out-of-pocket expenses of such Holder. 

  
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 2.6 Indemnification by the Company. The Company hereby agrees to indemnify, to the extent
permitted by law, each Holder, its partners, officers and directors, if any, and each person, if any, who controls such Holder within the meaning of the Securities Act, against all losses, claims, damages, liabilities and expenses (under the
Securities Act, applicable state securities laws, common law or otherwise) caused by any untrue statement or alleged untrue statement of a material fact contained in any registration statement or prospectus (and as amended or supplemented if the
Company has furnished any amendments or supplements thereto) or any preliminary prospectus, which registration statement, prospectus or preliminary prospectus shall be prepared in connection with Piggy-back Registration, or caused by any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages, liabilities or expenses are caused by any untrue statement or
alleged untrue statement contained in or by any omission or alleged omission from information furnished in writing to the Company by such Holder in connection with a Piggy-back Registration, provided the Company will not be liable pursuant to this
Section 2.6 if such losses, claims, damages, liabilities or expenses have been caused by (a) any Holder’s failure to deliver a copy of the registration statement or prospectus, or any amendments or supplements thereto, after the
Company has furnished such Holder with a sufficient amount of copies of the same or (b) any untrue statement or omission based upon information furnished to the 

  
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Company by such Holder or controlling person for use in connection with the offering of securities. 

2.7 Indemnification by the Holders of Registrable Securities. In connection with any registration statement in which a Holder is
participating, each such Holder shall furnish to the Company in writing such information as is reasonably requested by the Company for use in any such registration statement or prospectus and shall indemnify, to the extent permitted by law, the
Company, its directors and officers and each person, if any, who controls the Company within the meaning of the Securities Act, against any losses, claims, damages, liabilities and expenses resulting from any untrue statement or alleged untrue
statement of a material fact or any omission or alleged omission of a material fact required to be stated in the registration statement or prospectus or any amendment thereof or supplement thereto or necessary to make the statements therein not
misleading, but only to the extent such losses, claims, damages, liabilities or expenses are caused by an untrue statement or alleged untrue statement contained in or by an omission or alleged omission from information so furnished in writing by
such holder in connection with the Piggy-back Registration; provided that no such Holder shall be liable under this Section 2.7 for any amounts exceeding the product of (i) the offering price per share of Registrable Securities pursuant to
the registration statement in which such Holder is participating, multiplied by (ii) the number of shares of Registrable Securities being sold by such Holder pursuant to such registration statement. If the offering pursuant to any such
registration is 

  
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made through underwriters, each such Holder agrees to enter into an underwriting agreement in customary form with such underwriters and to indemnify such underwriters, their officers and
directors, if any, and each person who controls such underwriters within the meaning of the Securities Act to the same extent as hereinabove provided with respect to indemnification by such Holder of the Company. 

2.8 Conduct of Indemnification Proceedings. Promptly after receipt by an indemnified party under Section 2.6 or Section 2.7
of notice of the commencement of any action or proceeding, such indemnified party will, if a claim in respect thereof is made against the indemnifying party under such Section, notify the indemnifying party in writing of the commencement thereof;
but the omission so to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party otherwise than under such Section. In case any such action or proceeding is brought against any indemnified party,
and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and, to the extent that it wishes, jointly with any other indemnifying party similarly notified, to assume the
defense thereof, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not be liable to
such indemnified party under such Section for any legal or any other expenses subsequently incurred by such indemnified party in connection with the defense thereof (other than 

  
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reasonable costs of investigation) unless incurred at the written request of the indemnifying party. Notwithstanding the above, the indemnified party will have the right to employ counsel of its
own choice in any such action or proceeding if the indemnified party has reasonably concluded that there may be defenses available to it which are different from or additional to those of the indemnifying party, or counsel to the indemnified party
is of the opinion that it would not be desirable for the same counsel to represent both the indemnifying party and the indemnified party because such representation might result in a conflict of interest (in either of which cases the indemnifying
party will not have the right to assume the defense of any such action or proceeding on behalf of the indemnified party or parties and such legal and other expenses will be borne by the indemnifying party). An indemnifying party will not be liable
to any indemnified party for any settlement of any such action or proceeding effected without the consent of such indemnifying party. 
 2.9
Contribution. If the indemnification provided for in Section 2.6 or Section 2.7 is unavailable under applicable law to an indemnified party in respect of any losses, claims, damages or liabilities referred to therein, then each
applicable indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities in such proportion as is appropriate
to reflect the relative fault. 

  
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 2.10 Transfer of Registration Rights. The registration rights of any Holder under this
Article 2 may be transferred by such Holder to a transferee of its Registrable Securities who agrees in writing to be bound by the provisions of this Agreement (a) if such transferee acquires at least 20% of such Holder’s Registrable
Securities (or, if the transferring Holder acquired registration rights through a transfer pursuant to this Section 2.10, at least 20% of the Registrable Securities held by the original party to this Agreement), or (b) if such transferee
is a partner or stockholder of such Holder, without restriction as to the minimum amount acquired. 
 ARTICLE 3 

MISCELLANEOUS 
 3.1 Successors
and Assigns. Subject to the exceptions specifically set forth in this Agreement, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective executors, administrators, heirs, successors and assigns
of the parties. 
 3.2 Governing Law. Except to the extent that the Delaware General Corporation Law shall be applicable with respect
to matters relating to the internal corporate affairs of the Company, this Agreement and (unless otherwise provided) all amendments, supplements, waivers and consents relating thereto or hereto shall be governed by and construed in accordance with
the laws of the State of California. 
 3.3 Counterparts. This Agreement may be executed in two or more counterparts, each of which
shall be deemed to be an 

  
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original, but all of which together shall constitute one and the same instrument. 

3.4 Headings. The headings of the Articles and Sections of this Agreement are for convenience and shall not by themselves determine the
interpretation of this Agreement. 
 3.5 Notices. Any notice required or permitted hereunder shall be given in writing and shall be
conclusively deemed effectively given upon personal delivery, or five business days after deposit in the United States mail, by first class mail, postage prepaid, and addressed (i) if to the Company, as set forth below the Company’s name
on the signature page of this Agreement, and (ii) if to an Investor, at such Investor’s address as set forth in the books of the Company, or at such other addresses as the Company or such Investor may designate by ten days’ advance
written notice to the Investor or the Company, respectively. Investors with addresses outside of the United States shall be given such notice by telecopy at such Investor’s telecopy number as set forth in the books of the Company, or at such
other telecopy number as the Investor may designate by ten (10) days’ written notice to the Company. 
 3.6 Amendment of
Agreement. Any provision of this Agreement may be amended only by a written instrument signed by the Company and by persons holding at least fifty-one percent of the Registrable Securities then outstanding, 

3.7 Severability. If any provision of this Agreement is held to be unenforceable for any reason, it shall be adjusted rather than
voided, if possible, in order to achieve the intent of the parties to the extent possible. In any event, all other 

  
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 3.8 Entire Agreement; Effectiveness of Agreement; Termination of Prior Agreements. This
Agreement constitutes the entire contract between the Company and the Investors relative to the subject matter hereof. This Agreement shall become effective with respect to each Investor upon the execution of this Agreement by such Investor. 

3.9 Additional Parties. From and after the date of this Agreement, the Company may grant registration rights under this Agreement to
any holder or prospective holder of securities of the Company. Upon execution of a signature page to this Agreement by any such additional party and by the Company, such additional party shall be considered an Investor for all purposes of this
Agreement. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 

 

							
	THE COMPANY:	 		 	FIBROGEN, INC.
				
		 		 	By:	 	 /s/ Thomas B. Neff

		 		 	Title:	 	 CEO

		 		 	Address:	 	772 Lucerne Drive
		 		 		 	 Sunnyvale, California
 94063

		 		 		 	Attention: President
			
	THE INVESTORS:	 		 	 WAGNER & BROWN, LTD.

		 		 	(Print name of Investor)
			
		 		 	 /s/ A.J. Brune III

		 		 	(Signature)
			
		 		 	 Executive Vice President and C.F.O

		 		 	(Name and title of signatory if Investor is not an individual)

  
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 3.8 Entire Agreement; Effectiveness of Agreement; Termination of Prior Agreements. This
Agreement constitutes the entire contract between the Company and the Investors relative to the subject matter hereof. This Agreement shall become effective with respect to each Investor upon the execution of this Agreement by such Investor. 

3.9 Additional Parties. From and after the date of this Agreement, the Company may grant registration rights under this Agreement to
any holder or prospective holder of securities of the Company. Upon execution of a signature page to this Agreement by any such additional party and by the Company, such additional party shall be considered an Investor for all purposes of this
Agreement. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 

 

							
	THE COMPANY:	 		 	FIBROGEN, INC.
				
		 		 	By:	 	 /s/ Thomas B. Neff

		 		 	Title:	 	 CEO

		 		 	Address:	 	772 Lucerne Drive
		 		 		 	 Sunnyvale, California
 94063

		 		 		 	Attention: President
			
	THE INVESTORS:	 		 	 WAGNER FAMILY PARTNERSHIP VI

		 		 	(Print name of Investor)
			
		 		 	 /s/ Cy Wagner Jr.

		 		 	(Signature)
			
		 		 	 Managing Partner

		 		 	(Name and title of signatory if Investor is not an individual)

  
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