Document:

Exhibit 4.9

 

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

TETRALOGIC PHARMACEUTICALS CORPORATION

 

WARRANT TO PURCHASE EQUITY SECURITIES

 

	
No.            
    	
April 12, 2013
    

 

THIS CERTIFIES THAT, for value received,              , or its assigns (the “Holder”), is entitled to subscribe for and purchase from TETRALOGIC PHARMACEUTICALS CORPORATION, a Delaware corporation, with its principal office at 343 Phoenixville Pike, Malvern, Pennsylvania 19355 (the “Company”) the Exercise Shares at the Exercise Price (each subject to adjustment as provided herein). This Warrant is being issued as one of a series of warrants (the “Warrants”) pursuant to the terms of the Note and Warrant Purchase Agreement, dated April 12, 2013 by and among the Company and the Purchasers therewith (the “Purchase Agreement”). Capitalized terms used herein but not otherwise defined herein have the meanings given to them in the Purchase Agreement. Unless indicated otherwise, the aggregate number of Exercise Shares that Holder may purchase by exercising this warrant is equal to the quotient of (A)         , divided by (B) the per share price paid by investors for the Equity Securities purchased in the financing in which the Equity Securities were issued, subject to adjustment pursuant to the terms hereof, including but not limited to adjustments pursuant to Sections 5 and 8 below.

 

1.                                      DEFINITIONS, Capitalized Terms used but not defined herein shall have the meanings set forth in the Purchase Agreement. As used herein, the following terms shall have the following respective meanings:

 

(a)                                 “Equity Securities”  shall mean (i) to the extent the Notes issued under the Purchase Agreement have converted in connection with a Qualified Financing or a Non-Qualified Financing (as defined in the Notes) prior to twelve months after the issuance date hereof (the “Trigger Date”), the equity securities issued by the Company in such financing, (ii) to the extent that the Notes issued under the Purchase Agreement have not converted in connection with a Qualified Financing or a Non-Qualified Financing (each as defined in the Notes) prior to the Trigger Date, then at the election of the Holder, either (a) the Company’s Series C Preferred Stock or (b) the series of preferred stock issued by the Company in the first preferred stock financing completed by the Company after the Trigger Date, and (iii) in the event of a Liquidation (as defined in the Company’s Certificate of Incorporation, as amended to date) prior to the determination of the Equity Securities pursuant to (i) or (ii) above, then at the

 

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election of the Holder either (a) the Company’s Series C Preferred Stock or (b) the equity securities issued in any Non-Qualified Financing.

 

(b)                         “Exercise Period”  shall mean the period commencing upon the earlier of (i) conversion of the Notes, and (ii) twelve (12) months following the First Tranche Closing, and ending ten (10) years later, unless sooner terminated as provided below.

 

(c)                          “Exercise Price”  shall mean the price per share for the series of preferred stock that comprise Exercise Shares, subject to adjustment pursuant to Sections 5 and 7 below.

 

(d)                         “Exercise Shares”  shall mean the Equity Securities issuable upon exercise of this Warrant.

 

2.                                      EXERCISE OF WARRANT. The rights represented by this Warrant may be exercised in whole or in part during the Exercise Period by delivery of the following to the Company at its address set forth above (or at such other address as it may designate by notice in writing to the Holder):

 

(a)                                 An executed Notice of Exercise in the form attached hereto;

 

(b)                                 Payment of the Exercise Price either (i) in cash or by check, or (ii) by cancellation of indebtedness; and

 

(c)                                  This Warrant.

 

Upon the exercise of the rights represented by this Warrant, a certificate or certificates for the Exercise Shares so purchased, registered in the name of the Holder or persons affiliated with the Holder, if the Holder so designates, shall be issued and delivered to the Holder within ten (10) business days after the rights represented by this Warrant shall have been so exercised. In the event that this Warrant is being exercised for less than all of the then-current number of Exercise Shares purchasable hereunder, the Company shall, concurrently with the issuance by the Company of the number of Exercise Shares for which this Warrant is then being exercised, issue a new Warrant exercisable for the remaining number of Exercise Shares purchasable hereunder.

 

The person in whose name any certificate or certificates for Exercise Shares are to be issued upon exercise of this Warrant shall be deemed to have become the holder of record of such shares on the date on which this Warrant was surrendered and payment of the Exercise Price was made, irrespective of the date of delivery of such certificate or certificates, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

 

2.1                               Net Exercise. Notwithstanding any provisions herein to the contrary, if the fair market value of one Exercise Share is greater than the Exercise Price (at the date of calculation

 

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as set forth below), in lieu of exercising this Warrant by payment of cash, the Holder may elect to receive shares equal to the value (as determined below) of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with the properly endorsed Notice of Exercise in which event the Company shall issue to the Holder a number of Exercise Shares computed using the following formula:

 

	
 
    	
 
    	
X   = Y (A-B)
                A
    
	
 
    	
 
    	
 
    
	
Where X =
    	
 
    	
the   number of Exercise Shares to be issued to the Holder
    
	
 
    	
 
    	
 
    
	
Y =
    	
 
    	
the   number of Exercise Shares purchasable under the Warrant or, if only a portion   of the Warrant is being exercised, that portion of the Warrant being canceled   (at the date of such calculation)
    
	
 
    	
 
    	
 
    
	
A =
    	
 
    	
the   fair market value of one Exercise Share (at the date of such calculation)
    
	
 
    	
 
    	
 
    
	
B =
    	
 
    	
Exercise   Price (as adjusted to the date of such calculation)
    

 

For purposes of the above calculation, the fair market value of one Exercise Share shall be determined by the Company’s Board of Directors in good faith; provided, however, that in the event that this Warrant is exercised pursuant to this Section 2.1 in connection with the Company’s initial public offering of its Common Stock, the fair market value per share shall be the product of (i) the per share offering price to the public of the Company’s initial public offering, and (ii) the number of  shares of Common Stock into which each Exercise Share is convertible at the time of such exercise.

 

3.                                      COVENANTS OF THE COMPANY.

 

3.1                    Covenants as to Exercise Shares. The Company covenants and agrees that all Exercise Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance, be validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance thereof. The Company further covenants and agrees that the Company will at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of shares of the series of equity securities comprising the Exercise Shares to provide for the exercise of the rights represented by this Warrant. If at any time during the Exercise Period the number of authorized but unissued shares of such series of the Company’s equity securities shall not be sufficient to permit exercise of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of such series of the Company’s equity securities to such number of shares as shall be sufficient for such purposes.

 

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3.2                    Notices of Record Date. In the event of any taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, the Company shall mail to the Holder, at least ten (10) days prior to the date specified herein, a notice specifying the date on which any such record is to be taken for the purpose of such dividend or distribution.

 

4.                                      REPRESENTATIONS OF HOLDER.

 

4.1                         Acquisition of Warrant for Personal Account. The Holder represents and warrants that it is acquiring the Warrant and the Exercise Shares solely for its account for investment and not with a view to or for sale or distribution of said Warrant or Exercise Shares or any part thereof. The Holder also represents that the entire legal and beneficial interests of the Warrant and Exercise Shares the Holder is acquiring is being acquired for, and will be held for, its account only.

 

4.2                         Securities Are Not Registered.

 

(a)                     The Holder understands that the Warrant and the Exercise Shares have not been registered under the Securities Act of 1933, as amended (the “Act”) on the basis that no distribution or public offering of the stock of the Company is to be effected. The Holder realizes that the basis for the exemption may not be present if, notwithstanding its representations, the Holder has a present intention of acquiring the securities for a fixed or determinable period in the future, selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the securities. The Holder has no such present intention.

 

(b)                     The Holder recognizes that the Warrant and the Exercise Shares must be held indefinitely unless they are subsequently registered under the Act or an exemption from such registration is available. The Holder recognizes that the Company has no obligation to register the Warrant or the Exercise Shares of the Company, or to comply with any exemption from such registration.

 

(c)                      The Holder is aware that neither the Warrant nor the Exercise Shares may be sold pursuant to Rule 144  adopted under the Act unless certain conditions are met, including, among other things, the existence of a public market for the  shares, the  availability of certain current public information about the Company, the resale following the required holding period under Rule 144 and the number of shares being sold during any three month period not exceeding specified limitations. Holder is aware that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company presently has no plans to satisfy these conditions in the foreseeable future.

 

4.3                               Disposition of Warrant and Exercise Shares.

 

(a)                                 The Holder further agrees not to make any disposition of all or any part of the Warrant or Exercise Shares in any event unless and until:

 

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(i)                                    The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission  with respect to the proposed disposition;

 

(ii)                                There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement; or

 

(iii)                            The Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, for the Holder to the effect that such disposition will not require registration of such Warrant or Exercise Shares under the Act or any applicable state securities laws. The Company agrees that it will not require an opinion of counsel with respect to transactions under Rule 144 of the Act, except in unusual circumstances.

 

(b)                                 The Holder understands and agrees that all certificates evidencing the shares to be issued to the Holder may bear the following legend:

 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

4.4                               Accredited Investor Status. The Holder is an “accredited investor” as defined in Regulation D promulgated under the Act.

 

5.                                      ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF EXERCISE SHARES.

 

5.1                               Changes in Securities. In the event of changes in the series of equity securities of the Company comprising the Exercise Shares by reason of stock dividends, splits, recapitalizations, reclassifications, combinations or exchanges of shares, separations, reorganizations, liquidations, or the like, the number and class of Exercise Shares available under the Warrant in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of the Warrant, on exercise for the same aggregate Exercise Price, the total number, class, and kind of shares as the Holder would have owned had the Warrant been exercised prior to the event and had the Holder continued to hold such shares until after the event requiring adjustment; provided however that such adjustment shall not be made with respect to, and this Warrant shall terminate if not exercised prior to, the events set forth in Section 7 below. For purposes of this Section 5 and Section 7, the “Aggregate Exercise Price”  shall mean the aggregate Exercise Price payable in connection with the exercise in full of this Warrant. The

 

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form of this Warrant need not be changed because of any adjustment in the number of Exercise Shares subject to this Warrant.

 

5.2                               Automatic Conversion. Upon the automatic conversion of all outstanding shares of the series of equity securities comprising the Exercise Shares, this Warrant shall become exercisable for that number of shares of Common Stock of the Company into which the Exercise Shares would then be convertible, so long as such shares, if this Warrant had been exercised prior to such offering, would have been converted into shares of the Company’s Common Stock pursuant to the Company’s Certificate of Incorporation. In such case, all references to “Exercise Shares” shall mean shares of the Company’s Common Stock issuable upon exercise of this Warrant, as appropriate.

 

6.                                      FRACTIONAL SHARES. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment pursuant hereto. All Exercise Shares (including fractions) to be issued upon exercise of this Warrant shall be aggregated for purposes of determining whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in the issuance of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled to such fraction a sum in cash equal to the product resulting from multiplying the then current fair market value of one Exercise Share by such fraction.

 

7.                                      EARLY TERMINATION. In the event of, at any time during the Exercise Period, an initial public offering of securities of the Company registered under the Act, or a Liquidation, the Company shall provide to the Holder twenty (20) days advance written notice of such public offering or Acquisition Event, and this Warrant shall be deemed exercised pursuant to Section 2.1 immediately prior to the date such public offering is closed or the closing of such Acquisition Event.

 

8.                                      REORGANIZATION. In the event of, at any time during the Exercise Period, any capital reorganization of the capital stock of the Company (other than (i) a change in par value or from par value to no par value or no par value to par value or as a result of a stock dividend or subdivision, split-up or combination of shares or (ii) a Liquidation (an “Organic Change”)), then, as a condition of such Organic Change, lawful and adequate provisions shall be made by the Company whereby the Holder hereof shall thereafter have the right to purchase and receive (in lieu of the Exercise Shares of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby) such shares of stock, securities or other assets or property as may be issued or payable with respect to or in exchange for a number of outstanding shares of such Exercise Shares equal to the number of shares of such stock immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby, and the Exercise Price shall be appropriately adjusted so that the Aggregate Exercise Price after such Organic Change shall be equal to the Aggregate Exercise Price immediately prior to such Organic Change.

 

9.                                      NO STOCKHOLDER RIGHTS. This Warrant in and of itself shall not entitle the Holder to any voting rights or other rights as a stockholder of the Company.

 

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10.                               TRANSFER OF WARRANT. Subject to applicable laws, the restriction on transfer set forth on the first page of this Warrant, and any restrictions applicable to the transfer of shares set forth in the Company’s bylaws, as they may be amended from time to time, this Warrant and all rights hereunder are transferable, by the Holder in person or by duly authorized attorney, upon delivery of this Warrant and the form of assignment attached hereto to any transferee designated by Holder. The transferee shall sign an investment letter in form and substance satisfactory to the Company.

 

11.                               LOST, STOLEN, MUTILATED OR DESTROYED WARRANT. If this Warrant is lost, stolen, mutilated or destroyed, the Company may, on such terms as to indemnity or otherwise as it may reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination and tenor as the Warrant so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute an original contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone.

 

12.                               AMENDMENT. Any term of this Warrant may be amended or waived with the written consent of the Company and the Requisite Holders, provided, however, that no such amendment or waiver shall adversely impact the Holder or a group of holders of the Warrants in a manner that is substantially different from another holder or group of holders, without such adversely impacted holder’s consent. Upon the effectuation of such amendment or waiver in conformance with this Section 12, the Company shall promptly give written notice thereof to the record holders of the Warrants who have not previously consented thereto in writing.

 

13.                               NOTICES, ETC. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at the address listed on the signature page and to Holder at the address listed for such Holder on the Schedule of Purchasers attached to the Purchase Agreement or at such other address as the Company or Holder may designate by ten (l0) days advance written notice to the other parties hereto.

 

14.                               ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.

 

15.                               GOVERNING LAW. This Warrant and all rights, obligations and liabilities hereunder shall be governed by and construed under the laws of the State of New York as applied to agreements among New York residents, made and to be performed entirely within the State of New York without giving effect to conflicts of laws principles.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its duly authorized officer as of April 12, 2013.

 

	
 
    	
TETRALOGIC   PHARMACEUTICALS CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
John   M. Gill
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
President   & CEO
    
	
 
    	
 
    	
 
    
	
 
    	
Address:
    	
343   Phoenixville Pike, Malvern, PA 19355
    

 

[SIGNATURE PAGE TO TETRALOGIC WARRANT]

 

 

NOTICE OF EXERCISE

 

TO: TETRALOGIC PHARMACEUTICALS CORPORATION

 

(1)                                 o                                    The undersigned hereby elects to purchase          shares of          (the “Exercise Shares”) of TETRALOGIC PHARMACEUTICALS CORPORATION (the “Company”) pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

o                                    The undersigned hereby elects to purchase          shares of          (the “Exercise Shares”) of TETRALOGIC PHARMACEUTICALS CORPORATION (the “Company”) pursuant to the terms of the net exercise provisions set forth in Section 2.1 of the attached Warrant, and shall tender payment of all applicable transfer taxes, if any.

 

(2)                                 Please issue a certificate or certificates representing said Exercise Shares in the name of the undersigned or in such other name as is specified below:

 

	
 
    	
 
    	
 
    
	
 
    	
(Name)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
(Address)
    	
 
    

 

(3)                                 The undersigned represents that (i) the aforesaid Exercise Shares are being acquired for the account of the undersigned for investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares; (ii) the undersigned is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision regarding its investment in the Company; (iii) the undersigned is experienced in making investments of this type and has such knowledge and background in financial and business matters that the undersigned is capable of evaluating the merits and risks of this investment and protecting the undersigned’s own interests; (iv) the undersigned understands that Exercise Shares issuable upon exercise of this Warrant have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the Securities Act, which exemption depends upon, among other things, the bona fide nature of the investment intent as expressed herein, and, because such securities have not been registered under the Securities Act, they must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available; (v) the undersigned is aware that the aforesaid Exercise Shares may not be sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions are met and until the undersigned has held the shares for the number of yeas prescribed by Rule 144, that among the conditions for use of the Rule is the availability of current information to the public about the Company and the Company has not made such information available and has no present plans to do so; and (vi) the undersigned agrees not to make any disposition of all or any part of the aforesaid shares of Exercise Shares unless and until

 

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there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with said registration statement, or, if reasonably requested by the Company, the undersigned has provided the Company with an opinion of counsel satisfactory to the Company, stating that such registration is not required.

 

	
 
    	
 
    	
 
    
	
(Date)
    	
 
    	
(Signature)
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(Print   name)
    

 

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ASSIGNMENT FORM

 

(To assign The foregoing Warrant, execute the form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	
Name:
    	
 
    
	
(Please Print)
    
	
 
    	
 
    
	
Address:
    	
 
    
	
(Please Print)
    
	
Dated:
    	
    , 20  
    
	
 
    
	
Holder’s   Signature:
    	
 
    	
 
    
	
 
    	
 
    
	
Holder’s   Address:
    	
 
    	
 
    
				

 

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

 

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SCHEDULE OF MATERIAL DIFFERENCES 

TO EXHIBIT 4.9

 

	
Warrant Number
    	
 
    	
Name
    	
 
    	
Amount
    	
 
    
	
PCW-18
    	
 
    	
HealthCare Ventures VII, L.P.
    	
 
    	
$
    	
188,181.22
    	
 
    
	
PCW-19
    	
 
    	
Novitas Capital III, L.P.
    	
 
    	
$
    	
158,937.78
    	
 
    
	
PCW-20
    	
 
    	
LVP Life Science Ventures III, L.P.
    	
 
    	
$
    	
84,505.78
    	
 
    
	
PCW-21
    	
 
    	
LVP III Associates, L.P.
    	
 
    	
$
    	
4,225.30
    	
 
    
	
PCW-22
    	
 
    	
LVP III Partners L.P.
    	
 
    	
$
    	
2,112.65
    	
 
    
	
PCW-23
    	
 
    	
Vertical Fund I, L.P.
    	
 
    	
$
    	
52,888.39
    	
 
    
	
PCW-24
    	
 
    	
Vertical Fund II, L.P.
    	
 
    	
$
    	
13,222.26
    	
 
    
	
PCW-25
    	
 
    	
Amgen Ventures LLC
    	
 
    	
$
    	
43,639.20
    	
 
    
	
PCW-26
    	
 
    	
George McLendon
    	
 
    	
$
    	
610.44
    	
 
    
	
PCW-27
    	
 
    	
Pecora & Co., LLC
    	
 
    	
$
    	
5,969.82
    	
 
    
	
PCW-28
    	
 
    	
Clarus Life Sciences II, LP
    	
 
    	
$
    	
871,190.63
    	
 
    
	
PCW-29
    	
 
    	
Hatteras Venture Partners III, LP
    	
 
    	
$
    	
266,221.35
    	
 
    
	
PCW-30
    	
 
    	
Hatteras Venture Affiliates III, LP
    	
 
    	
$
    	
24,175.54
    	
 
    
	
PCW-31
    	
 
    	
Pfizer Inc.
    	
 
    	
$
    	
290,396.89
    	
 
    
	
PCW-32
    	
 
    	
Nextech III Oncology, LPCI
    	
 
    	
$
    	
217,797.68
    	
 
    
	
PCW-33
    	
 
    	
ONC Partners, L.P.
    	
 
    	
$
    	
72,599.21Exhibit 4.10

 

THIS NOTE AND THE SECURITIES INTO WHICH IT MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EXEMPTION FROM REGISTRATION OR AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT.

 

TETRALOGIC PHARMACEUTICALS CORPORATION

UNSECURED CONVERTIBLE PROMISSORY NOTE

 

	
USD $                
    	
November 29, 2012
    

 

FOR VALUE RECEIVED in immediately available funds from                                                                          , or its assigns (the “Holder”), the undersigned, TETRALOGIC PHARMACEUTICALS CORPORATION, a Delaware corporation (the “Company”), promises to pay to the order of the Holder, the principal sum of $                    in lawful money of the United States of America, together with interest as provided herein.  This Note has been executed by the Company on the date listed on the signature page hereto.

 

This Note has been issued pursuant to, and is entitled to the benefits of, the Note and Warrant Purchase Agreement (the “Purchase Agreement”), dated as of November 29, 2012, by and among the Company and Holders parties thereto.  Capitalized terms used herein but not otherwise defined herein have the meanings given to them in the Purchase Agreement.

 

The following is a statement of the rights of the Holder of this Note and the conditions to which this Note is subject and to which the Holder hereof, by the acceptance of this Note, agrees:

 

1.                                      Maturity Date.  Unless earlier converted in accordance with Section 2 hereof, on the earliest of (a) July 1, 2013, (b) the closing of a Liquidation (as defined in the Company’s Certificate of Incorporation, as amended to date) or (c) the date on which an Event of Default (as defined below) has occurred and repayment of this Note has been accelerated pursuant to Section 5.2 (the “Maturity Date”),  the Company shall pay to Holder, in cash, the amount of the then outstanding principal balance of this Note plus all accrued and unpaid interest hereon.

 

2.                                      Note Conversion.

 

2.1                               Automatic Conversion Upon the Occurrence of a Financing. If, after the date hereof, the Company shall (i) obtain equity investments from an investor or a group of investors aggregating at least $25,000,000, excluding any principal and interest on the Notes converted into equity securities in such financing or (ii) obtain (a) equity investments from an investor or a group of investors aggregating at least $10,000,000, excluding any principal and interest on the Notes converted into equity securities in such financing and (b) on or before the date of such financing, commitments pursuant to one or more definitive collaboration agreements with third parties pursuant to which such third parties will provide the Company with no less than $15,000,000 in guaranteed and non-contingent non-dilutive funding to be received by the Company

 

 

on or before the second anniversary of the Maturity Date (either (i) or (ii) above, a “Qualified Financing”), then all outstanding principal and accrued and unpaid interest on this Note shall, effective on the closing date of such Qualified Financing automatically convert into such number of shares of the type of equity securities to be issued in the equity financing equal to the quotient of:

 

(a) the aggregate amount of then outstanding principal and accrued and unpaid interest on this Note divided by

 

(b) the lowest price per share actually paid by the investors participating in the equity financing for the securities issued in such Qualified Financing.

 

2.2                               Optional Conversion Upon the Occurrence of Non-Qualified Financing. If, after the date hereof, the Company shall obtain an equity investment from an investor or a group of investors which does not qualify as a Qualified Financing (a “Non-Qualified Financing”),  all outstanding principal and accrued and unpaid interest on this Note shall, at the Holder’s option and effective on the date of such Non-Qualified Financing, be converted into such number of shares of the type of equity securities to be issued in the Non-Qualified Financing equal to the quotient of:

 

(a) the aggregate amount of then outstanding principal and accrued and unpaid interest on this Note divided by

 

(b) the lowest price per share actually paid by the investors participating in the Non-Qualified Financing for the securities issued in such Non-Qualified Financing.

 

2.3                               Optional Conversion Outside of a Financing. If this Note has not been converted or repaid prior to twelve (12) months following the date hereof, the Notes may be converted at the option of the Holder into such number of shares of the Company’s Series C Preferred Stock (the “Series C Preferred”)  equal to the quotient of:

 

(a) the aggregate amount of then outstanding principal and accrued and unpaid interest on this Note divided by

 

(b) the original purchase price for the Series C Preferred.

 

2.4                               Conversion Procedure. If this Note is converted to equity securities pursuant to Section 2, the following terms shall govern such conversion.

 

2.4.1                     Notice of Conversion. With respect to a conversion pursuant to Section 2.1, not less than ten days prior to the closing of the Qualified Financing the Company shall deliver written notice to the Holder of this Note at the address shown on the records of the Company for the Holder, notifying the Holder of the conversion to be effective, specifying the equity securities into which this Note shall be converted, the principal amount of the Note to be converted, the amount of accrued interest to be converted, and the date on which the Qualified Financing (and the conversion of this Note) will occur. With respect to a conversion pursuant to

 

2

 

Section 2.2, not less than ten days prior to the closing of the Non-Qualified Financing, the Company shall deliver written notice to the Holder of this Note at the address shown on the records of the Company for the Holder, notifying the Holder of the material terms, including, without limitation, the total amount invested, the type of securities sold and the closing date of the Non-Qualified Financing (the “Non-Qualified Financing Notice”).  In the event the Holder elects to exercise its conversion right pursuant to Section 2.2, the Holder shall, within ten (10) days of the Holder’s receipt of the Non-Qualified Financing Notice, deliver written notice to the Company of such election. With respect to a conversion pursuant to Section 2.3, the Holder shall deliver written notice to the Company no later than seven (7) days before the date on which the Holder wishes to convert this Note, notifying the Company of such Holders election to convert this Note pursuant to the provisions of Section 2.3.  At the applicable conversion date, Holder agrees to deliver the original of this Note (or a notice to the effect that the original Note has been lost, stolen or destroyed and an agreement acceptable to the Company whereby the Holder agrees to indemnify the Company from any loss incurred by it related to such lost, stolen or destroyed Note) for cancellation; provided, however, that upon as applicable (i) the closing of a Qualified Financing a Non-Qualified Financing for which the Holder has exercised its conversion right or (ii) the conversion date for a conversion of this Note into Series C Preferred pursuant to Section 2.3 above, this Note shall be deemed converted and of no further force and effect, whether or not it is delivered for cancellation as set forth in this sentence. In addition, upon the conversion of this Note pursuant to Section 2.1 or Section 2.2, the Holder shall agree to (and execute any documents in connection therewith) any associated restrictions agreed to by the investors in such Qualified Financing or Non-Qualified Financing, including in any case, without limitation, all applicable registration rights, co-sale rights, rights of first refusal, pre-emptive rights, voting agreements, transfer restrictions and other similar rights and restrictions. In addition, upon the conversion of this Note pursuant to Section 2.3, the Holder shall agree to (and execute any documents in connection therewith) any associated restrictions agreed to by the Series C Preferred investors, including in any ease the Amended and Restated Investor Rights Agreement, the Amended and Restated Voting Agreement and the Amended and Restated Right of First Refusal and Co-Sale Agreement, each dated July 26, 2010, by and among the Company and each of the parties named therein.

 

2.4.2                     Mechanics and Effect of Conversion. No fractional shares of the Company’s equity securities shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Holder upon the conversion of this Note, the Company shall pay to the Holder the amount of outstanding principal and accrued interest that is not so converted in cash, The Holder shall surrender this Note, duly endorsed, at the principal office of the Company after full conversion of this Note in exchange for stock certificates representing the equity securities into which this Note has been converted. Upon full conversion of this Note, the Company shall be forever released from all its obligations and liabilities under this Note.

 

2.5                               Optional Conversion Upon a Liquidation. In the event the Company proposes to enter into a transaction which, if consummated, would constitute a Liquidation prior to conversion pursuant to Section 2.1, Section 2.2 or Section 2.3, the Company shall provide the Holder with twenty (20) days written notice prior to the consummation of such transaction (the “Liquidation Notice”).  The Liquidation Notice shall set forth the material terms of the proposed

 

3

 

Liquidation, including, without limitation, the proposed structure of the Liquidation and the amount and type of consideration to be received by the Company’s equity holders. The Holder shall have the option to (i) redeem this Note for a cash payment from the Company equal to the aggregate amount of outstanding principal and accrued and unpaid interest on this Note, effective on the date of such Liquidation, or (ii) convert, subject to Section 2.4.2, all outstanding principal and accrued and unpaid interest on this Note, effective on the date of such Liquidation, into such number of shares of Series C Preferred equal to the quotient of:

 

(a) the aggregate amount of outstanding principal and accrued and unpaid interest on this Note divided by

 

(b) the original purchase price for the Series C Preferred.

 

In the event the Holder elects to exercise its conversion right pursuant to this Section 2.5, the Holder shall, within seven (7) days of the Holder’s receipt of the Liquidation Notice, deliver written notice to the Company of such election.

 

2.6                               Covenants as to Exercise Shares. The Company covenants and agrees that all Exercise Shares (as defined in the Warrants) that may be issued upon the exercise of the rights represented by this Note will, upon issuance, be validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance thereof. The Company further covenants and agrees that the Company will at all times during the Exercise Period (as defined in the Warrants), have authorized and reserved, free from preemptive rights, a sufficient number of shares of the series of equity securities comprising the Exercise Shares to provide for the exercise of the rights represented by this Note. If at any time during the Exercise Period the number of authorized but unissued shares of such series of the Company’s equity securities shall not be sufficient to permit exercise of this Note, the Company will take such corporate action as may, in  the opinion of its counsel, be necessary to increase its authorized but unissued shares of such series of the Company’s equity securities to such number of shares as shall be sufficient for such purposes.

 

2.7                               Prepayment.  Except in connection with a Liquidation where the Holder elects not to convert this Note, without the written consent of the Requisite Holders, the Company may not and shall not prepay any portion of the outstanding principal of this Note. In the event the Requisite Holders consent to the prepayment of Notes, prepayments shall be made by the Company to the Investors who elect to receive such prepayments on a pro-rata basis.

 

3.                                      Interest. Interest shall accrue on the outstanding principal balance of this Note at the rate of 8% per year, compounded annually on the basis of actual days elapsed in a 365- or 366-day year, as appropriate. Notwithstanding any other provision of this Note, the Holder does not intend to charge, and the Company shall not be required to pay, any interest or other fees or charges or premiums in excess of the maximum permitted by applicable law; any payments in excess of such maximum shall be refunded to the Company or credited to reduce principal hereunder.

 

4.                                      Waiver of Notice. The Company hereby waives notice, presentment, protest and notice of dishonor.

 

4

 

5.                                      Event of Default.

 

5.1                               Event of Default. The following events shall constitute an “Event of Default” under this Note:

 

5.1.1                     Voluntary Bankruptcy or Insolvency Proceedings. The Company shall have (a) applied for or consented to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (b) made a general assignment for the benefit of its creditors, (c) been dissolved or liquidated in full or in part, or (d) commenced a voluntary case or other proceeding seeking relief on its behalf as a debtor, or to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding-up, reorganization, arrangement, adjustment, composition, compromise or other relief with respect to itself or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors or any other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it.

 

5.1.2                     Involuntary Bankruptcy or Insolvency Proceedings.  If any notice of intention is filed or any proceeding or filing is  instituted or made against the Company in any jurisdiction seeking to have an order for relief entered against it as debtor or to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding-up, reorganization, arrangement, adjustment, composition or compromise of it or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors, or seeking appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its properties or assets or seeking possession, foreclosure or retention, or sale or other disposition of, or other proceedings to enforce security over, all or a substantial part of the assets of the Company and the same has not been dismissed, vacated or stayed within sixty (60) days of commencement.

 

5.1.3                     Failure to Pay. Failure by the Company to pay any principal or interest on any Note when due, whether at maturity or by reason of acceleration.

 

5.1.4                     Cross-Default. Failure by the Company to make any payment when due under the terms of any bond, debenture, note or other evidence of indebtedness for borrowed money in an aggregate principal amount in excess of $100,000 (excluding the Notes, but including any other evidence of indebtedness of the Company to the Holder).

 

5.2                               Acceleration.  If an Event of Default under Section 5.1.3 or Section 5.1.4 occurs and is continuing, then the Requisite Holders may declare the outstanding principal balance, accrued interest thereon and all other payments payable on the Notes to be forthwith due and payable in cash immediately, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Company, to the fullest extent permitted by applicable law. If an Event of Default specified in Section 5.1.1 or Section 5.1.2 occurs and is continuing, then the outstanding principal balance, accrued interest thereon and all other payments payable hereunder shall become and be immediately due and payable in cash without any declaration or other act on the part of the Holder or the Requisite Holders. The Requisite

 

5

 

Holders by notice to the Company may rescind an acceleration and its consequences. No such rescission shall affect any subsequent default or impair any right thereto.

 

6.                                   Miscellaneous.

 

6.1                               Successors and Assigns; Transfer. Subject to the exceptions specifically set forth in this Note, the terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and permitted transferees and assigns of the parties. The Company may not transfer or assign its obligations hereunder without the prior written consent of the Holder. Each Note thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with the Securities Act of 1933.

 

6.2                               Loss or Mutilation of Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Note, together with indemnity reasonably satisfactory to the Company, the Company shall execute and deliver to Holder a new Note of like tenor and denomination as this Note. Principal and interest is payable only to the Holder of the Note.

 

6.3                               Titles and Subtitles. The titles and subtitles of the Sections of this Note are used for convenience only and shall not be considered in construing or interpreting this agreement.

 

6.4                               Notices. Any notice, request or other communication required or permitted hereunder shall be in writing and shall be delivered in accordance with the Purchase Agreement.

 

6.5                               Note Holder Not Shareholder. This Note does not confer upon Holder any right to vote or to consent to or to receive notice as a shareholder of the Company, as such, in respect of any matters whatsoever, or any other rights or liabilities as a shareholder, prior to the conversion hereof.

 

6.6                               Governing Law. The terms of this Note shall be construed in accordance with the laws of the State of New York, without regard to conflict, of laws principles.

 

6.7                               Waiver and Amendment. Any provision of this Note may be amended, waived or modified upon the written consent of the Company and the Requisite Holders; provided, however, that no such amendment, waiver or consent shall: (i) reduce the principal amount of this Note without Holder’s written consent, (ii) reduce the rate of interest of this Note without Holder’s written consent, or (hi) adversely impact one Holder or a group of Holders in a manner that is substantially different from another Holder or group of Holders, without such adversely impacted Holder’s consent.

 

[Signature Page Follows]

 

6

 

IN WITNESS WHEREOF, the Company has caused this Note to be signed in its name this 29th day of November, 2012.

 

	
TETRALOGIC   PHARMACEUTICALS CORPORATION
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
Name:
    	
John   M. Gill
    	
 
    
	
Title:
    	
President   & Chief Executive Officer
    	
 
    

 

SIGNATURE PAGE TO CONVERTIBLE NOTE

 

 

SCHEDULE OF MATERIAL DIFFERENCES

TO EXHIBIT 4.10

 

	
Name
    	
 
    	
Amount
    	
 
    
	
HealthCare Ventures VII, L.P.
    	
 
    	
$
    	
384,186.62
    	
 
    
	
Novitas Capital III, L.P.
    	
 
    	
$
    	
324,483.86
    	
 
    
	
Quaker BioVentures, L.P.
    	
 
    	
$
    	
311,160.83
    	
 
    
	
LVP Life Science Ventures III, L.P.
    	
 
    	
$
    	
172,525.19
    	
 
    
	
LVP III Associates, L.P.
    	
 
    	
$
    	
8,626.24
    	
 
    
	
LVP III Partners, L.P.
    	
 
    	
$
    	
4,313.07
    	
 
    
	
Vertical Fund I, L.P.
    	
 
    	
$
    	
107,975.77
    	
 
    
	
Vertical Fund II, L.P.
    	
 
    	
$
    	
26,994.28
    	
 
    
	
Amgen Ventures LLC
    	
 
    	
$
    	
89,092.82
    	
 
    
	
George McLendon
    	
 
    	
$
    	
1,246.27
    	
 
    
	
Pecora & Co., LLC
    	
 
    	
$
    	
12,187.86
    	
 
    
	
Clarus Life Sciences II, LP
    	
 
    	
$
    	
1,778,603.55
    	
 
    
	
Hatteras Venture Partners III, LP
    	
 
    	
$
    	
543,511.63
    	
 
    
	
Hatteras Venture Affiliates III, LP
    	
 
    	
$
    	
49,356.25
    	
 
    
	
Pfizer Inc.
    	
 
    	
$
    	
592,867.88
    	
 
    
	
Nextech III Oncology, LPCI
    	
 
    	
$
    	
444,650.93
    	
 
    
	
ONC Partners, L.P.
    	
 
    	
$
    	
148,216.95
    	
 
    

 

 

Amendment #1 to Unsecured Convertible Promissory Notes of TetraLogic Pharmaceuticals Corporation

 

This is an Amendment (“Amendment #1 [SIC]) to the Unsecured Convertible Promissory Notes (“Notes”) issued pursuant to the Note and Warrant Purchase Agreement (“Purchase Agreement”) dated November 29, 2012 by and among TetraLogic Pharmaceuticals Corporation, a Delaware corporation (the “Company”), and the persons and entities named on the Schedule of Purchasers attached to the Agreement (“Purchasers”).

 

WITNESSETH:

 

WHEREAS, the Company and Purchasers are parties to the Purchase Agreement; and

 

WHEREAS, pursuant to the Purchase Agreement, at the First Tranche Closing and the Second Tranche Closing the Company issued to the Holders convertible promissory notes in the aggregate principal amount of $10,000,000 (the “Notes”); and

 

WHEREAS, the outstanding principal amount of each of the Notes, together with all accrued and unpaid interest thereon, was due and payable on July 1, 2013; and

 

WHEREAS, the Notes may be amended, waived or modified upon the written consent of the Company the Requisite Holders (as defined in the Purchase Agreement); and

 

WHEREAS, the Company and the Purchasers have concluded that it is in their mutual best interest to amend Section 1 of each of the Notes to extend the Maturity Date (as defined in the Notes) to April 1, 2014.

 

NOW, THEREFORE, in consideration of the covenants contained herein the parties hereto, intending to be legally bound hereby, agree to amend the Notes as follows:

 

1.     Section 1 of the Notes shall be deleted and replaced in its entirety with the following:

 

“Maturity Date. Unless earlier converted in accordance with Section 2 hereof, on the earliest of (a) April 1, 2014, (b) the closing of a Liquidation (as defined in the Company’s Certificate of Incorporation, as amended to date) or (c) the date on which an Event of Default (as defined below) has occurred and repayment of this Note has been accelerated pursuant to Section 5.2 (the “Maturity Date”), the Company shall pay to Holder, in cash, the amount of the then outstanding principal balance of this Note plus all accrued and unpaid interest hereon.”

 

This Amendment, together with each Note, constitute the entire agreement between the parties with respect to the subject matter contained therein, and together, supersede and replace any and all prior and contemporaneous understandings, arrangements and agreements, whether oral or written, with respect to the subject matter.

 

Except as otherwise amended hereby, the Notes shall remain in full force and effect as presently written, and the rights, duties, liabilities and obligations of the parties thereto, as presently constituted, will continue in full effect.

 

IN WITNESS WHEREOF, the parties have caused this Amendment #1 to be executed by their duly authorized representative, effective as of the 3rd day of September, 2013.

 

	
TetraLogic Pharmaceuticals Corporation
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Richard Sherman
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
Richard Sherman
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
Sr. VP. Strategic   Transactions/General Counsel
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

	
Purchasers:
    	
 
    
	
 
    	
 
    
	
PFIZER INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
(print)
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
CLARUS   LIFESCIENCES II, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Clarus Ventures II GP, LP,   its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Clarus Ventures II, LLC,   its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Michael Steinmetz
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
Michael Steinmetz
    	
 
    
	
(print)
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
Managing Director
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

	
Hatteras   Venture Partners III, LP
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Hatteras Venture Advisors,   LLC, its general partner
    	
 
    
	
 
    	
 
    	
 
    
	
Signature:
    	
/s/ Douglas Reed
    	
 
    
	
Name:
    	
Douglas Reed
    	
 
    
	
Title:
    	
Manager
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Hatteras   Venture Affiliates III, LP
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Hatteras Venture Advisors,   LLC, its general partner
    	
 
    
	
 
    	
 
    	
 
    
	
Signature:
    	
/s/ Douglas Reed
    	
 
    
	
Name:
    	
Douglas Reed
    	
 
    
	
Title:
    	
Manager
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

	
VERTICAL FUND I, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
The Vertical Group, L.P.
    	
 
    
	
Its:
    	
General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
The Vertical Group GPHC, LLC
    	
 
    
	
Its:
    	
General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ John E. Runnells
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
John E. Runnells
    	
 
    
	
 
    	
 
    	
 
    
	
Its:
    	
Authorized Signatory
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
VERTICAL FUND II L.P.
    	
 
    
	
 
    	
 
    
	
By:
    	
The Vertical Group, L.P.
    	
 
    
	
Its:
    	
General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
The Vertical Group GPHC, LLC
    	
 
    
	
Its:
    	
General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ John E. Runnells
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
John E. Runnells
    	
 
    
	
 
    	
 
    	
 
    
	
Its:
    	
Authorized Signatory
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1  TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

	
QUAKER BIOVENTURES, L.P.
    	
 
    
	
 
    	
 
    
	
By:
    	
QUAKER BIOVENTURES CAPITAL, L.P.,
    	
 
    
	
 
    	
Its general partner
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
QUAKER BIOVENTURES CAPITAL, LLC,
    	
 
    
	
 
    	
Its general partner
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Brenda D. Gavin
    	
 
    
	
 
    	
 
    	
 
    
	
Name: 
    	
Brenda D. Gavin
    	
 
    
	
 
    	
 
    	
 
    
	
Title:  
    	
Partner
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

AMGEN VENTURES LLC

 

 

	
By:
    	
/s/ Janis Naeve
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
Janis Naeve
    	
 
    
	
(print)
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:  
    	
Managing Director
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

	
/s/ George Mclendon
    	
 
    
	
GEORGE MCLENDON
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1 TO TETRALOG1C PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

 

PECORA AND COMPANY, LLC

 

 

	
By:   
    	
/s/ Andrew Pecora
    	
 
    
	
 
    	
 
    	
 
    
	
Name: 
    	
Andrew Pecora
    	
 
    
	
(print) 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:  
    	
Chairman
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

HEALTHCARE VENTURES VII, LP.

 

	
By: 
    	
HealthCare Partners VII, L.P.,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By: 
    	
/s/ Jeffrey B. Steinberg 
    	
 
    
	
 
    	
 
    	
 
    
	
Name: 
    	
Jeffrey B. Steinberg
    	
 
    
	
Title:
    	
Administrative Partner
    	
 
    

 

[SIGNATURE PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

	
NOVITAS CAPITAL III, L.P.
    	
 
    
	
 
    	
 
    
	
By:
    	
Novitas Capital III GP, L.P.,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Novitas Capital III GP, Manager, LLC,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Paul J. Schmitt
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
Paul J. Schmitt
    	
 
    
	
(print)
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
Managing Director
    	
 
    

 

[SIGNATURE  PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION
 UNSECURED CONVERTIBLE PROMISSORY NOTES]

 

 

	
ONC Partners, L.P.
    	
 
    
	
 
    	
 
    
	
By: ONC General Partner Limited
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By: 
    	
/s/ Michael Robinson 
    	
 
    
	
Name:
    	
Michael Robinson 
    	
 
    
	
 
    	
Director
    	
 
    

 

[SIGNATURE  PAGE TO AMENDMENT #1 TO TETRALOGIC PHARMACEUTICALS CORPORATION UNSECURED
 CONVERTIBLE PROMISSORY NOTES]

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