Document:

Exhibit 4.12

 

TETRALOGIC PHARMACEUTICALS CORPORATION

 

 

 

NOTE PURCHASE AGREEMENT

 

 

 

TETRALOGIC PHARMACEUTICALS CORPORATION

 

NOTE PURCHASE AGREEMENT

 

THIS NOTE PURCHASE AGREEMENT (the “Agreement”) is made as of the 16th day of May, 2013 (the “Effective Date”) by and among TETRALOGIC PHARMACEUTICALS CORPORATION, a Delaware corporation (the “Company”), and Amgen Inc. ( “Purchaser””).

 

RECITAL

 

To provide the Company with additional resources to conduct its business, the Purchaser is willing to loan to the Company the amount of three million dollars ($3,000,000), subject to the conditions specified herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing, and the representations, warranties, covenants and conditions set forth below, the Company and the Purchaser, intending to be legally bound, hereby agree as follows:

 

1.                                      AMOUNT AND TERMS OF THE LOAN

 

1.1                               The Loan. Subject to the terms of this Agreement, Purchaser agrees to lend to the Company the amount of three million dollars ($3,000,000) (the “Loan Amount”) at the Closing (as defined below) against the issuance and delivery by the Company of an unsecured convertible promissory note for such amount, in substantially the form attached hereto as Exhibit A (the “Note”). The Note shall be convertible into the Company’s equity securities as provided in such Note.

 

2.                                      THE CLOSING(S)

 

2.1                               Closing Condition. As a condition precedent to the Closing, the transactions contemplated by this Agreement shall have been approved by (i) a majority of the board of directors of the Company (the “Board”), and (ii) the holders of fifty three percent (53%) of the Company’s Series C Preferred stock and Series C-1 Preferred stock, voting together as a single class.

 

2.2                               Closing Date. The closing of the sale and purchase of the Notes (the “Closing”) shall be held on the Effective Date, or at such other time as the Company and the Purchaser shall agree (the “Closing Date”). Delivery. At the Closing (i) Purchaser shall deliver to the Company a check or wire transfer funds in the amount of such the Loan Amount; and (ii) the Company shall issue and deliver to Purchaser a Note in favor of Purchaser payable in the Loan Amount.

 

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3.                                      REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY

 

The Company hereby represents and warrants to Purchaser as follows:

 

3.1                               Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has the requisite corporate power to own and operate its properties and assets and to carry on its business as now conducted and as proposed to be conducted. The Company is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Company or its business.

 

3.2                               Corporate Power. The Company will have at the Closing all requisite corporate power to execute and deliver this Agreement, to issue the Note, (collectively, the “Loan Documents”) and to carry out and perform its obligations under the terms of this Agreement and under the terms of each Note. The Board will have on or before the Closing Date approved the Loan Documents.

 

3.3                               Authorization. All corporate action on the part of the Company, its directors and its stockholders necessary for the authorization, execution, delivery and performance of this Agreement by the Company and the performance of the Company’s obligations hereunder, including the issuance and delivery of the Notes and the reservation of the equity securities issuable upon conversion of the Notes (the “Conversion Securities”) has been taken or will be taken prior to the issuance of such Conversion Securities. This Agreement, and the Notes, when executed and delivered by the Company, shall constitute valid and binding obligations of the Company enforceable in accordance with their terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and other laws of general application affecting enforcement of creditors’ rights generally, and as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies and, with respect to rights to indemnity, subject to federal and state securities laws. The Conversion Securities, when issued in compliance with the provisions of this Agreement and the Notes will be validly issued, fully paid and nonassessable and free of any liens or encumbrances and issued in compliance with all applicable federal and securities laws.

 

3.4                               Capitalization. As of immediately prior to the Closing, the authorized capital stock of the Company consists of 244,540,361 shares of Common Stock, par value $0.0001 per share (“Common Stock”), 22,995,220 of which are issued and outstanding; and 194,331,744 shares of Preferred Stock, par value $0.0001 per share (“Preferred Stock”), 8,000,000 of which are designated Series A Convertible Preferred Stock (the “Series A Preferred”), all of which are issued and outstanding, 33,703,699 of which are designated Series B Preferred Stock (the “Series B Preferred”), 33,333,334 of which are issued and outstanding, 133,212,722 of which are designated Series C Preferred Stock (the “Series C Preferred”), 98,693,337 of which are issued and outstanding, and 19,915,323 of which are designated Series C-1 Preferred Stock (the “Series C-1 Preferred”), of which 13,276,686 are issued and outstanding. Each share of Series A Preferred Stock is presently convertible into 2.222222 shares of Common Stock, each share of Series B Preferred Stock is presently convertible into one share of Common Stock, each share of

 

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Series C Preferred Stock is initially convertible into one share of Common Stock, and each share of Series C-1 Preferred Stock is initially convertible into one share of Common Stock. All of the outstanding Common Stock and Preferred Stock is validly issued, fully paid and non-assessable. The Company has reserved an aggregate of 35,315,057 shares of Common Stock for issuance to employees and consultants pursuant to the Company’s 2004 Equity Incentive Plan, as amended, duly adopted by the Board of Directors and approved by the stockholders of the Company, under which options to purchase 10,473,692 shares of Common Stock have been granted or committed for issuance, restricted stock grants for 19,268,675 shares of Common Stock have been made, and options for 476,545 shares of Common Stock have been exercised. There currently are outstanding warrants to purchase 1,335,043 shares of Common Stock, warrants to purchase 370,365 shares of Series B Preferred Stock, and warrants to issue 1,991,502 shares of Series C Preferred Stock. All outstanding securities have been validly issued in compliance with all applicable state and federal securities laws.

 

3.5                               Governmental Consents. All consents, approvals, orders, or authorizations of, or registrations, qualifications, designations, declarations, or filings with, any governmental authority, required on the part of the Company in connection with the valid execution and delivery of this Agreement, the offer, sale or issuance of the Notes and the Conversion Securities issuable upon conversion of the Notes or the consummation of any other transaction contemplated hereby shall have been obtained and will be effective at the Closing Date.

 

3.6                               Compliance with Laws. To its knowledge, the Company is not in violation of any applicable statute, rule, regulation, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties, which violation of which would materially and adversely affect the business, assets, liabilities, financial condition, operations or prospects of the Company.

 

3.7                               Compliance with Other Instruments. The Company is not in violation or default of any term of its certificate of incorporation or bylaws, or of any provision of any mortgage, indenture or contract to which it is a party and by which it is bound or of any judgment, decree, order or writ, other than such violation(s) that would not have a material adverse effect on the Company. The execution, delivery and performance of this Agreement, the Notes, and the consummation of the transactions contemplated hereby or thereby will not result in any such violation or be in conflict with, or constitute, with or without the passage of time and giving of notice, either a default under any such provision, instrument, judgment, decree, order or writ or an event that results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any material permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets or properties. Without limiting the foregoing, the Company has obtained all waivers reasonably necessary with respect to any preemptive rights, rights of first refusal or similar rights, including any notice or offering periods provided for as part of any such rights, in order for the Company to consummate the transactions contemplated hereunder without any third party obtaining any rights to cause the Company to offer or issue any securities of the Company as a result of the consummation of the transactions contemplated hereunder.

 

3.8                               Offering. Assuming the accuracy of the representations and warranties of the Purchaser contained in Section 4 hereof, the offer, issue, and sale of the Notes and the

 

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Conversion Securities are and will be exempt from the registration and prospectus delivery requirements of the Act, and have been registered or qualified (or are exempt from registration and qualification) under the registration, permit, or qualification requirements of all applicable state securities laws.

 

3.9                               Disclosure. The Company has fully provided Purchaser with all the information that Purchaser has requested for deciding whether to purchase the Notes and all information that the Company believes is reasonably necessary to enable Purchaser to make such decision. Neither this Agreement nor any ancillary agreement nor any Exhibit hereto or thereto, nor any certificate furnished to Purchaser by the Company in connection with the transaction contemplated by this Agreement, when read together, contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein, when read together, in light of the circumstances under which such statements were made, not misleading.

 

4.                                    REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS

 

Purchaser hereby makes the following representations and warranties to the Company as of the Effective Date:

 

4.1                               Authorization. Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the Purchaser, will constitute a valid and legally binding obligation of the Purchaser, enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and any other laws of general application affecting enforcement of creditors’ rights generally, and as limited by laws relating to the availability of a specific performance, injunctive relief, or other equitable remedies.

 

4.2                               Purchase for Own Account. Purchaser represents that it is acquiring the Notes and the Conversion Securities (collectively, the “Securities”) solely for its own account and beneficial interest for investment and not for sale or with a view to distribution of the Securities or any part thereof, has no present intention of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the same, and does not presently have reason to anticipate a change in such intention. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Securities. The Purchaser has not been formed for the specific purpose of acquiring any of the Securities.

 

4.3                               Information and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth in Section 3, Purchaser hereby: (i)  acknowledges that it has received all the information it has requested from the Company and it considers necessary or appropriate for deciding whether to acquire the Securities, (ii) represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities and to obtain any additional information necessary to verify the accuracy of the information given the Purchaser

 

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and (iii) further represents that it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risk of this investment.

 

4.4                               Ability to Bear Economic Risk. Purchaser acknowledges that investment in the Securities involves a high degree of risk, and represents that it is able, without materially impairing its financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of its investment.

 

4.5.                            Restricted Securities. The Purchaser understands that the Securities have not been, and will not be, registered under the Act, and will be issued and sold only pursuant to a specific exemption from the registration provisions of the Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The Purchaser understands that the Securities are “restricted securities” under applicable U.S. federal and state securities laws and that, pursuant to these laws, the Purchaser must hold the Securities indefinitely unless they are registered with the Securities and Exchange Commission and qualified by state authorities, or an exemption from such registration and qualification requirements is available. The Purchaser acknowledges that the Company has no obligation to register or qualify the Securities for resale. The Purchaser further acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the Securities, and on requirements relating to the Company which are outside of the Purchaser’s control, and which the Company is under no obligation and may not be able to satisfy. The Purchaser understands that no public market now exists for any of the securities issued by the Company, that the Company has made no assurances that a public market will ever exist for the Securities.

 

4.6                               Legends. The Purchaser understands that the Securities, and any securities issued in respect thereof or exchange therefor, may bear one or all of the following legends:

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR APPLICABLE STATE SECURITIES LAWS, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS.”

 

Any legend required by the Blue Sky laws of any state to the extent such laws are applicable to the shares represented by the certificate so legended.

 

4.7                               Further Limitations on Disposition. Without in any way limiting the representations set forth above, Purchaser further agrees not to make any disposition of all or any portion of the Securities unless and until:

 

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(a)                                 There is then in effect a registration statement under the Act (a “Registration Statement”) covering such proposed disposition and such disposition is made in accordance with such Registration Statement; or

 

(b)                                 The Purchaser 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, such Purchaser shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration under the Act or any applicable state securities laws, provided that no such opinion shall be required for dispositions in compliance with Rule 144, except in unusual circumstances.

 

(c)                                  Notwithstanding the provisions of paragraphs (a) and (b) above, no such registration statement or opinion of counsel shall be necessary for a transfer by Purchaser to an affiliate of such Purchaser, if all transferees agree in writing to be subject to the terms hereof to the same extent as if they were Purchasers hereunder.

 

4.8                               Accredited Investor Status. Purchaser is an “accredited investor” as such term is defined in Rule 501 under the Act.

 

4.9                               Further Assurances. Purchaser agrees and covenants that at any time and from time to time it will promptly execute and deliver to the Company such further instruments and documents and take such further action as the Company may reasonably require in order to carry out the full intent and purpose of this Agreement and to comply with state or federal securities laws or other regulatory approvals.

 

5.                                    MISCELLANEOUS

 

5.1                               Binding Agreement. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, expressed or implied, is intended to confer upon any third party any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

5.2                               Governing Law. This Agreement shall be governed by and construed under the laws of the State of New York, made and to be performed entirely within the State of New York, without giving effect to conflicts of laws principles.

 

5.3                               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 same instrument.

 

5.4                               Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

5.5                               Notices. 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

 

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by confirmed telex, electronic mail 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 343 Phoenixville Pike, Malvern, Pennsylvania 19355, and to Purchaser at One Amgen Center Drive, Thousand Oaks, CA 91320 or at such other address as the Company or Purchaser may designate by ten (10) days advance written notice to the other parties hereto.

 

5.6                               Modification; Waiver. No modification or waiver of any provision of this Agreement or consent to departure therefrom shall be effective unless in writing and approved by the Company and the Purchaser. Any provision of the Notes may be amended or waived by the written consent of the Company and the Purchaser.

 

5.7                               Expenses. The Company and each Purchaser shall each bear its respective expenses and legal fees incurred with respect to this Agreement and the transactions contemplated herein.

 

5.8                               Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy accruing to Purchaser, upon any breach or default of the Company under this Agreement or the Note shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach or default, or any acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character by Purchaser of any breach or default under this Agreement, or any waiver by Purchaser of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in writing and that all remedies, either under this Agreement, or by law or otherwise afforded to the Purchaser, shall be cumulative and not alternative.

 

5.9                               Entire Agreement. This Agreement and the Exhibits hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and no party shall be liable or bound to any other party in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties have executed  this NOTE PURCHASE AGREEMENT as of the date first written above.

 

 

	
COMPANY:
    	
 
    	
PURCHASER
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
TETRALOGIC PHARMACEUTICALS CORPORATION
    	
 
    	
AMGEN INC.
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ John M. Gill
    	
 
    	
By:
    	
/s/ Jonathan M. Peacock
    
	
 
    	
John M. Gill
    	
 
    	
 
    	
JONATHAN M. PEACOCK
    
	
 
    	
President & CEO
    	
 
    	
 
    	
EVP & CFO
    

 

SIGNATURE PAGE TO NOTE PURCHASE AGREEMENT

 

 

 

EXHIBITS

 

 

Exhibit A

 

Form of Convertible Promissory Note

 

 

TETRALOGIC PHARMACEUTICALS CORPORATION

UNSECURED CONVERTIBLE PROMISSORY NOTE

 

	
USD $3,000,000
    	
May 16,   2013
    

 

FOR VALUE RECEIVED in immediately available funds from AMGEN INC., the undersigned, TETRALOGIC PHARMACEUTICALS CORPORATION, a Delaware corporation (the “Company”), promises to pay to the order of AMGEN INC., or its permitted assigns (the “Holder”), the principal sum of Three Million Dollars (USD $3,000,000) 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 Purchase Agreement (the “Purchase Agreement”), dated as of May 16, 2013, by and among the Company and Holder. 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) May 16, 2015, (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 obtain equity investments from an investor or a group of investors aggregating at least $15,000,000 (provided, however, that at least $7,500,000 shall have been raised from investors that are not then currently a debtholder or shareholder in the Company), excluding any principal and interest on the Note converted into equity securities in such financing (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.

 

 

For clarity, any convertible debt obligations of Company outstanding as of the date of this Note (and any equity securities converted from any such debt obligations) shall not be included for the purposes determining whether a Qualified Financing has occurred, and the issuance of any convertible debt obligations after the date of this Note shall not be included for the purposes determining whether a Qualified Financing has occurred until such debt obligations have converted into equity securities.

 

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 twenty four (24) 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-1 Preferred Stock (the “Series C-1 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-1 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 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

 

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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 Holder’s 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-1 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-1 Preferred investors, including in any case 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 May 20, 2011, 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 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

 

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and accrued and unpaid interest on this Note, effective on the date of such Liquidation, into such number of shares of Series C-1 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-1 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 Conversion Shares. The Company covenants and agrees that all shares of equity securities that may be issued upon the conversion of this Note (“Conversion Securities”) 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 pendency of the conversion rights under this Note, have authorized and reserved, free from preemptive rights, a sufficient number of shares of the series of equity securities comprising the Conversion Shares to provide for the conversion of this Note. If at any time during such period the number of authorized but unissued shares of such series of the Company’s equity securities shall not be sufficient to permit conversion 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                               Funding of Study. The Company covenants and agrees that it will fund all activities specified under the Study (as such term is defined in that certain Master Clinical Trial Supply Agreement by and between the Company and the Holder dated as of the date hereof) and that it will all times maintain sufficient cash, capital commitments and revenues sufficient for such funding.

 

2.8                               Prepayment. Except in connection with a Liquidation where the Holder elects not to convert this Note, without the written consent of the Holder, the Company may not and shall not prepay any portion of the outstanding principal of this Note.

 

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.

 

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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 Holder 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. The Holder by notice to the Company may rescind an acceleration and its consequences. No such rescission shall affect any subsequent default or

 

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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. Neither the Company nor the Holder may transfer or assign its obligations hereunder without the prior written consent of the other party. Upon transfer the Note 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 Holder.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the Company has caused this Note to be signed in its name this 16th day of May, 2013.

 

	
TETRALOGIC PHARMACEUTICALS CORPORATION
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ John M. Gill
    	
 
    
	
Name:
    	
John M. Gill
    	
 
    
	
Title:
    	
President CEO
    	
 
    

 

SIGNATURE PAGE TO CONVERTIBLE NOTEExhibit 4.13

 

SECOND AMENDED AND RESTATED
 VOTING AGREEMENT

 

This Second Amended and Restated Voting Agreement (this “Voting Agreement”) is made as of May 20, 2011, among TetraLogic Pharmaceuticals Corporation, a Delaware corporation (the “Company”), certain holders of the Company’s Preferred Stock, severally and not jointly, listed on Exhibit A hereto (each of which is herein referred to as an “Investor” and all of which are collectively referred to herein as the “Investors”), and certain holders of the Company’s outstanding Common Stock (the “Common Stock”), severally and not jointly, listed on Exhibit B hereto (each of which is herein referred to as a “Common Holder” and all of which are collectively referred to herein as the “Common Holders”). The Investors and the Common Holders are collectively referred to herein as the “Stockholders.”

 

RECITALS

 

WHEREAS, certain of the Investors (the “Existing Investors”) hold shares of the Company’s Series A Preferred, Series B Preferred, Series C Preferred and/or shares of Common Stock issued upon conversion thereof and possess certain rights to nominate directors of the Company and other rights pursuant to an Amended and Restated Voting Agreement dated as of July 26, 2010 between the Company, such Existing Investors and certain Common Holders (the “Prior Agreement”); and

 

WHEREAS, the Company’s Fourth Amended and Restated Certificate of Incorporation (as amended or restated from time to time, the “Restated Certificate”) provides that the holders of shares of the Company’s Series A Preferred Stock and Series B Preferred Stock, voting together as a single, separate class, shall be entitled to elect three (3) directors (the “Junior Preferred Directors”); (ii) the holders of the Company’s Series C Preferred Stock (the “Series C Preferred”) and Series C-1 Preferred Stock (the “Series C-1 Preferred”), voting together as a single, separate class, shall be entitled to elect two (2) directors (the “Series C Directors” and together with the Junior Preferred Directors known herein as the “Preferred Directors”); and (iii) the holders of the Common Stock and the Preferred Stock, voting together as a single class, shall be entitled to elect all other directors of the Corporation; and

 

WHEREAS, the Existing Investors are holders of at least sixty percent (60%) of the then outstanding shares of Series C Preferred Stock of the Company, and desire to amend and restate the Prior Agreement in its entirety and to accept the rights created pursuant to this Voting Agreement in lieu of the rights granted to them under the Prior Agreement; and

 

WHEREAS, certain of the Investors are parties to that certain Series C-1 Preferred Stock Purchase Agreement of even date herewith between the Company and certain of the Investors (the “Purchase Agreement”), under which certain of the Company’s and such Investors’ obligations are conditioned upon the execution and delivery of this Voting Agreement by such Investors, Existing Investors holding at least sixty percent (60%) of the then outstanding shares of Series C Preferred, holders of at least a majority of the Common Stock of the Company then held by the Common Stockholders listed on Exhibit A attached to the Prior Agreement and the Company.

 

 

NOW, THEREFORE, BE IT RESOLVED, the Existing Investors and the Common Stockholders listed on Exhibit A attached to the Prior Agreement hereby agree that the Prior Agreement shall be superseded and replaced in its entirety by this Voting Agreement, and the parties to this Voting Agreement further agree as follows:

 

AGREEMENT

 

1.                                      Shares Subject to Agreement. Each Stockholder agrees to hold all shares of Company voting securities beneficially owned or controlled by such Stockholder, whether now owned or hereafter acquired (hereinafter referred to as the “Voting Shares”), subject to, and to vote the Voting Shares in accordance with, the provisions of this Voting Agreement.

 

2.                                      Obligations to Vote Voting Shares for Specific Nominee.

 

2.1.                       Junior Preferred Directors. At any annual or special meeting called, or in connection with any other action (including the execution of written consents) taken for the purpose of electing directors to the Board of Directors (the “Board”), each of the Stockholders agrees, whether or not cumulative voting is in effect, to vote (or to act with respect to) such Stockholder’s Voting Shares in a manner that would cause the nomination and election of three (3) members of the Board designated by the holders of at least a majority of the then outstanding Series A Preferred Stock of the Company (the “Series A Preferred”) and Series B Preferred Stock of the Company (the “Series B Preferred”), voting together as a single class (each, a “Junior Preferred Director”), who initially shall be Harold Werner, Paul Schmitt and Brenda Gavin. Any amendment or waiver with respect to the rights under this Section 2.1, Section 2.5 and Section 2.6 shall require the prior written approval of the holders of at least a majority of the then outstanding Series A Preferred and Series B Preferred, voting together as a single class.

 

2.2.                       Series C Directors. At any annual or special meeting called, or in connection with any other action (including the execution of written consents) taken for the purpose of electing directors to the Board, each of the Stockholders agrees, whether or not cumulative voting is in effect, to vote (or to act with respect to) such Stockholder’s Voting Shares in a manner that would cause the nomination and election of two (2) members of the Board (each, a “Series C Director”) as follows: (a) one (1) designated by Clarus Lifesciences II, L.P. or its affiliates (“Clarus”) who initially shall be Michael Steinmetz; and (b) one (1) designated by Hatteras Venture Partners III, LP or its affiliates, who initially shall be Douglas Reed. The Clarus designee shall have the right to serve on any committee of the Board. Any amendment or waiver with respect to the rights under this Section 2.2, Section 2.5 and Section 2.6 shall require the prior written approval of the holders of at least sixty percent (60%) of the then outstanding Series C Preferred and Series C-1 Preferred, voting together as a single class.

 

2.3.                       CEO Director. At any annual or special meeting called, or in connection with any other action (including the execution of written consents) taken for the purpose of electing directors to the Board, each of the Stockholder agrees, whether or not cumulative voting is in effect, to vote (or to act with respect to) such Stockholder’s Voting Shares in a manner that would cause the nomination and election of the Company’s then-current Chief Executive Officer to the Board (who shall become the “CEO Director”). The initial CEO Director designee shall be John Gill.

 

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2.4.                       Industry Directors. At any annual or special meeting called, or in connection with any other action (including the execution of written consents) taken for the purpose of electing directors to the Board, each of the Stockholders agrees, whether or not cumulative voting is in effect, to vote (or to act with respect to) such Stockholder’s Voting Shares in a manner that would cause the nomination and election of up to three (3) members of the Board designated jointly by a majority of the Preferred Directors (including at least one Series C Director) and the CEO Director, (the “Industry Directors”), each of whom shall be an industry expert who is not an employee or officer of the Company or any of the Investors or a partner or director of, or affiliated with, any of the Investors (except that Andrew Pecora and James Woody each may serve as an Industry Director, subject to the provisions hereof) who initially shall be Andrew Pecora and James Woody (who is acting as a director of the Company at the request and as a representative, but not as a designee, of Latterell Venture Partners III, L.P. together with its affiliates (“LVP”)) and the remaining Industry Director shall initially be vacant. Each Industry Director shall be elected for a term of one (1) year (each such term, an “Industry Director Term”); provided, however, that the Industry Director Term for James Woody shall be two (2) years (the “Woody Director Term”) following which James Woody shall cease to be a director of the Company and the size of the Board shall be decreased by one (1) member from its then existing size. Upon the expiration of an Industry Director Term, unless a majority of the Board, including at least one Series C Director, approves the re-election of the then-serving Industry Director for an additional Industry Director Term within thirty (30) days, the Industry Director shall cease to be a director of the Company and a majority of the Preferred Directors, including at least one Series C Director, and the CEO Director shall appoint a new individual (in accordance with the Company’s Restated Certificate and Bylaws) to serve as an Industry Director.

 

2.5.                       Appointment of Directors. In the event of the resignation, death, removal or disqualification of a director designated by the persons or classes or series of stock entitled to designate directors under Sections 2.1 through 2.4, as the case may be (in any such case the “Designating Party”), the Designating Party shall promptly designate a new director, and, after written notice of the such designee’s nomination has been given by the Designating Party to the other Stockholders and to the Company, the Stockholders shall promptly vote or act with respect to their Voting Shares to elect such designee to the Board.

 

2.6.                       Removal. The Designating Party may remove its designated director at any time and from time to time, with or without cause (subject to the Bylaws of the Company as in effect from time to time and any requirements of law), in its or their sole discretion, and after written notice to each of the other Stockholders and the Company of the new designee to replace such director, the Stockholders shall promptly vote or act with respect to their Voting Shares to elect such designee to the Board. Additionally, if for any reason the individual serving as the CEO Director shall cease to serve as the chief executive officer of the Company, each of the Stockholders shall promptly vote their respective shares (i) to remove the former chief executive officer from the Board if such person has not resigned as a member of the Board and (ii) to elect such person’s replacement as chief executive officer of the Company as the new CEO Director.

 

2.7.                       Change in the Size of the Board. The Stockholders agree not to take any action, whether at any annual or special meeting of the Company’s stockholders or in connection with any other action (including the execution of written consents) taken, to increase or decrease

 

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the size of the Board from its current size of nine (9) members; provided, however, that such Board size may be subsequently increased or decreased pursuant to an amendment of this Voting Agreement in accordance with Section 12.10 hereof and in accordance with the Company’s Restated Certificate and Bylaws; provided, further, that pursuant to Section 2.4, following the expiration of the Woody Director Term the size of the Board shall be reduced by one (1) member from its then existing size.

 

2.8.                            Observer Rights.

 

(a)                                 Amgen Ventures, LLC (“Amgen”) shall be entitled to designate an individual (an “Amgen Observer”), who shall initally be Janis Naeve (or some other individual approved by the Board, including at least one Series C Director), and who shall be entitled (i) to be present at all meetings of the Board, and (ii) to receive advance notice of all such meetings, including such meetings’ time and place, in the same manner as the directors. The Amgen Observer shall not have the right to vote at any meetings and shall not be entitled to any indemnification or insurance coverage provided by the Company particular to officers and directors of the Company. The Company, in its sole discretion, reserves the right to exclude the Amgen Observer from all or part of any meeting of the Board and to withhold information and redact portions or entire documents to the extent reasonably necessary to protect confidential information of the Company, maintain a legal privilege or address any actual or potential conflict of interest between the Amgen Observer or Amgen or any of Amgen’s affiliates, on the one hand, and the Company, on the other hand. The observer rights provided under this Section 2.8(a) shall terminate upon the date that Amgen owns less than the full amount of shares of Series C Preferred than it has purchased pursuant to the Purchase Agreement. Any amendment or waiver to this Section 2.8(a) shall require the prior written consent of Amgen.

 

(b)                                 Following the date James Woody shall cease to be a director of the Company, for so long as LVP holds at least five percent (5%) of the then outstanding shares of Preferred Stock of the Company, LVP shall be entitled to designate an individual (a “LVP Observer”) (i) to be present at all meetings of the Board, and (ii) to receive advance notice of all such meetings, including such meetings’ time and place, in the same manner as the directors. The LVP Observer shall not have the right to vote at any meetings and shall not be entitled to any indemnification or insurance coverage provided by the Company particular to officers and directors of the Company. The Company, in its sole discretion, reserves the right to exclude the LVP Observer from all or part of any meeting of the Board and to withhold information and redact portions or entire documents to the extent reasonably necessary to protect confidential information of the Company, maintain a legal privilege or address any actual or potential conflict of interest between the LVP Observer or LVP or any of LVP’s affiliates, on the one hand, and the Company, on the other hand. Any amendment or waiver to this Section 2.8(b) shall require the prior written consent of LVP.

 

(c)                                  For so long as The Vertical Group, L.P. together with its affiliates (“Vertical”) holds at least five percent (5%) of the then outstanding shares of Preferred Stock of the Company, Vertical shall be entitled to designate an individual (a “Vertical Observer”) (i) to be present at all meetings of the Board, and (ii) to receive advance notice of all such meetings, including such meetings’ time and place, in the same manner as the directors. The Vertical Observer shall not have the right to vote at any meetings and shall not be entitled to any

 

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indemnification or insurance coverage provided by the Company particular to officers and directors of the Company. The Company, in its sole discretion, reserves the right to exclude the Vertical Observer from all or part of any meeting of the Board and to withhold information and redact portions or entire documents to the extent reasonably necessary to protect confidential information of the Company, maintain a legal privilege or address any actual or potential conflict of interest between the Vertical Observer or Vertical or any of Vertical’s affiliates, on the one hand, and the Company, on the other hand. Any amendment or waiver to this Section 2.8(c) shall require the prior written consent of Vertical.

 

(d)                                 For so long as Nextech III  Oncology, LPCI (“Nextech”), together with its affiliates, holds at least fifty percent (50%) of the shares of Series C-1 Preferred originally purchased by it under the Purchase Agreement, Nextech shall be entitled to designate an individual (a “Nextech Observer”) (i) to be present at all meetings of the Board, and (ii) to receive advance notice of all such meetings, including such meetings’ time and place, in the same manner as the directors. The Nextech Observer shall not have the right to vote at any meetings and shall not be entitled to any indemnification or insurance coverage provided by the Company particular to officers and directors of the Company. The Company, in its sole discretion, reserves the right to exclude the Nextech Observer from all or part of any meeting of the Board and to withhold information and redact portions or entire documents to the extent reasonably necessary to protect confidential information of the Company, maintain a legal privilege or address any actual or potential conflict of interest between the Nextech Observer or Nextech or any of Nextech’s affiliates, on the one hand, and the Company, on the other hand. Any amendment or waiver of this Section 2.8(d) shall require the prior written consent of Nextech.

 

2.9.                       Termination of Designation Rights. In the event that the shares of the Company’s Preferred Stock held by any Stockholder are converted into Common Stock pursuant to Section B.3 of the Restated Certificate (each such Stockholder a “Converting Stockholder”), any right of such Converting Stockholder to nominate or designate a director of the Company pursuant to Section 2.1 or Section 2.2 above shall terminate at the time of such conversion.

 

3.                                 Sale of the Company. If an acquisition of the Company by another entity by means of any transaction or series of related transactions other than by means of a transaction or series of transactions (including, without limitation, any stock acquisition, reorganization, merger or consolidation but excluding any sale of stock by the Company for capital raising purposes) in which the holders of the voting securities of the Company outstanding immediately prior to such transaction continue to retain (either by such voting securities remaining outstanding or by such voting securities being converted into voting securities of the surviving entity or the entity whose securities are issued pursuant to such transaction or series of related transactions), at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or such issuing entity outstanding immediately after such transaction or series of transaction, or a sale of all or substantially all of the assets of the Company (such events referred to herein collectively, as a “Sale of the Company”), is approved by the Board, including at least one Series C Director, and the holders of a majority of the outstanding shares of Series C Preferred and Series C-1 Preferred (voting as a single class), including Clarus, (the “Sale Majority”) (whether at an annual or special meeting of stockholders or by written consent in lieu of a meeting of stockholders or by the tender of their shares, an “Approved Sale”), then

 

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each of the Stockholders hereby agrees, with respect to all Voting Shares of the Company over which he, she or it exercises voting or dispositive authority:

 

(i)                                after receiving proper notice of any meeting of stockholders of the Company to vote on the approval of the Approved Sale, to be present, in person or by proxy, as a holder of Voting Shares, at all such meetings and be counted for the purposes of determining the presence of a quorum at such meetings;

 

(ii)                             to vote (in person, by proxy or by action by written consent, as applicable) all of its Voting Shares for such the Approved Sale, and to sell, transfer or exchange all of such Stockholder’s shares of capital stock of the Company in connection with such transaction on the same terms as those consented to by such consenting holders of the Company’s voting capital stock as appropriate for the Common Stock and/or Preferred Stock held by such Stockholder; provided, however, that nothing herein shall obligate any Stockholder who is (or whose designee is) also a director to vote in any manner in such Stockholder’s capacity as a director;

 

(iii)                          to refrain from exercising any dissenters’ rights, appraisal rights or similar rights under applicable law at any time with respect to such Approved Sale;

 

(iv)                         to execute and deliver such instruments of conveyance and transfer and take such other action, including, as applicable, executing any purchase agreement, merger agreement, indemnity agreement, escrow agreement or related documents, as may be reasonably required by the Company in order to carry out the terms and provisions of this Section 3; and

 

(v)                            at the closing of such transaction to deliver, against receipt of the consideration payable in such transaction, certificates representing the capital stock of the Company which such Stockholder holds of record or beneficially, with all endorsements necessary for transfer.

 

No Stockholder shall be subject to the requirements of this Section 3 with respect to an Approved Sale if such Approved Sale (A) requires that the payment with respect to each share of stock in the Company held by such Stockholder is not in accordance with the Restated Certificate in accordance with its terms and applicable law but without reliance on this Section 3, if such Approved Sale were a “Liquidation” within the meaning of Article Four, Section 2(c) thereof (or such equivalent Article and Section thereof), (B) provides that such Stockholder will not receive the same form of consideration or the same per share consideration for their shares of Common Stock or Preferred Stock, as applicable, as all others holders of such Common Stock or Preferred Stock, as applicable, or (C) requires such Stockholder to agree to any indemnification obligations which (1) are joint and several, (2) are for breaches of representations and warranties of any person or entity other than the Company or such Stockholder, (3) provide for indemnification other than in proportion to such Stockholder’s ownership interest in the Company, determined on a fully-diluted as-converted to common stock basis (excluding: (i) all shares issuable pursuant to the exercise of an option wherein such right of exercise has not yet vested as of the closing of the Approved Sale; (ii) all shares exercisable pursuant to either a warrant or an option for which the exercise price is greater than the fair market value of the

 

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underlying shares as of the closing of the Approved Sale; and (iii) all options and shares reserved for the issuance of options under any of the Company’s equity incentive plans for which options have not yet issued as of the closing of the Approved Sale), and (4) are not limited to the value of the consideration actually received by such Stockholder pursuant to such Approved Sale (excluding liability for such Stockholder’s own fraud). In addition and without limitation to the foregoing, no Stockholder shall be subject to the requirements of this Section 3 with respect to an Approved Sale if such Stockholder is required to provide indemnification in connection with such Approved Sale and any of the Stockholders comprising a part of the Sale Majority are not required to provide indemnification or if such Stockholder’s indemnification obligations in connection with such Approved Sale are upon terms and conditions which are less favorable to such Stockholder than the terms and conditions upon which any of the Stockholders comprising a part of the Sale Majority are obligated to provide indemnification in connection with such Approved Sale.

 

4.                                 Other Matters. In the event that the taking of any one or more of the actions listed in Article Fourth, Section B.5(b)(i), (ii), and (vi) of the Restated Certificate (an “Approved Action”) would require a separate vote by the holders of the Series C-1 Preferred under Section 242(b)(ii) of the General Corporation Law of the State of Delaware, then each holder of Series C-1 Preferred hereby agrees, with respect to all shares of Series C-1 Preferred over which he, she or it exercises voting or dispositive authority, to vote (in person, by proxy or by written consent, as applicable) all of such Series C-1 Preferred shares in favor of the Approved Action if (a) the holders of at least fifty-three percent (53%) of the then outstanding Series C Preferred approve (by vote or written consent as provided by law) the taking of such Approved Action and (b) such Approved Action does not (i) alter or amend Article Fourth, Section B.3(h)(ii) of the Restated Certificate, or the rights of the holders of the Series C-1 Preferred pursuant to such Article Fourth, Section B.3(h)(ii), prior to the Series C-1 Special Antidilution Termination Time (as defined in the Restated Certificate) or (ii) alter or change the powers, preferences or special rights of the Series C-1 Preferred so as to adversely affect the Series C-1 Preferred in a manner that is disproportionately unfavorable to the Series C-1 Preferred as compared with the Series C Preferred.

 

5.                                 Termination. This Voting Agreement shall terminate upon the earlier to occur of any one of the following events: (a) the consummation of the Company’s first offering of the Common Stock of the Company to the general public that is affected pursuant to a registration statement filed with, and declared effective by, the Securities Exchange Commission under the Securities Act of 1933,  as amended; or (b) the merger or consolidation of the Company, provided that the Company’s stockholders of record as constituted immediately prior to such transaction hold less than fifty percent (50%) of the voting power of the surviving or acquiring entity.

 

6.                                 Successors in Interest. The provisions of this Voting Agreement shall be binding upon the successors in interest to any of the Voting Shares. The Company shall not permit the transfer of any of the Voting Shares on its books or issue a new certificate representing any of the Voting Shares unless and until the person to whom such security is to be transferred shall have executed a written agreement pursuant to which such person becomes a

 

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party to this Voting Agreement and agrees to be bound by all the provisions hereof as if such person were a Stockholder.

 

7.                                 Legend. Each certificate representing any of the Voting Shares shall be marked by the Company with a legend reading as follows:

 

THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A VOTING AGREEMENT (A COPY OF WHICH MAY BE OBTAINED FROM THE ISSUER) AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON HOLDING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID VOTING AGREEMENT.

 

At any time after the termination of this Voting Agreement in accordance with Section 4, any holder of a stock certificate legended pursuant to this Section 7 may surrender such certificate to the Company for removal of the legend, and the Company will duly reissue a new certificate without the legend.

 

8.                                 No Liability for Election of Recommended Directors. Neither the Company nor any Stockholder, nor any officer, director, stockholder, partner, employee or agent of any such party, makes any representation or warranty as to the fitness or competence of the designee of any party hereunder to serve on the Board by virtue of such party’s execution of this Voting Agreement or by the act of such party in voting for such nominee pursuant to this Voting Agreement.

 

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9.                                 Grant of Proxy. If a Stockholder fails or refuses to vote or sell his, her or its Voting Shares as required by, or votes his, her or its Voting Shares in contravention of, this Voting Agreement, then each such Stockholder hereby grants to the individual selected by the holders of a majority of the Series C Preferred (the “Attorney-In-Fact”) an irrevocable (until such time as this Voting Agreement terminates or expires) proxy, coupled with an interest, to vote such Voting Shares in accordance with this Agreement and hereby appoints the Attorney-In-Fact as such Stockholder’s attorney-in-fact, only to vote such Stockholder’s Voting Shares and to sell such Stockholder’s capital stock in the Company in accordance with the terms of this Voting Agreement. In the event the Attorney-In-Fact is unable or unwilling to act as attorney in fact as set forth above, the holders of at least a majority of the Series C Preferred shall be entitled to appoint a new attorney-in-fact in substitution thereof.

 

10.                          Board Expenses. The Company will reimburse reasonable out-of-pocket expenses incurred by (a) any Designating Party’s representative member of the Board for the purpose of attending Board meetings and conducting other Company business in such person’s capacity as a director of the Company, and (b) the Nextech Observer or Nextech for the purpose of attending Board meetings and conducting other Company business in such person’s capacity as an observer to the Board, including coach class air travel to and from all Board meetings. If, on any flight, the Nextech Observer travels in an upgraded class, the Company only shall be required to reimburse the Nextech Observer or Nextech for the cost of a coach class fare on such flight. Any amendment or waiver of Section 10(b) shall require the prior written consent of Nextech.

 

11.                          Covenants of the Company.

 

11.1.                     Cooperation.  The Company agrees to use commercially reasonable efforts to provide that the parties to this Voting Agreement enjoy the benefits of this Voting Agreement. Such actions include, without limitation, the Company causing the nomination of the directors as provided above. The Company will not, by any voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be performed under this Voting Agreement by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Voting Agreement and in the taking of all such actions as may be reasonably necessary to protect the rights of the parties to this Voting Agreement against impairment.

 

11.2.                     Additional Parties.  The Company shall use its commercially reasonable efforts to have each of holder of Common Stock who owns three percent (3%) or more of the outstanding Common Stock (assuming the conversion, exercise or exchange of all outstanding securities that are directly or indirectly convertible into, or exercisable or exchangeable for, Common Stock (collectively, “Convertible Securities”)) become a party to this Voting Agreement as a Common Holder. The Stockholders and the Company hereby agree that each such Common Holder, by executing a Joinder Agreement in the form attached hereto as Exhibit C, shall automatically be joined as a party hereto pursuant to this Section 11.2 without the need to obtain the consent of any party, and shall be deemed to be a Common Holder for all purposes hereof.

 

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12.                          Miscellaneous.

 

12.1.                     Governing Law.  This Voting Agreement shall be governed in all respects by the laws of the State of Delaware without regard to choice of laws or conflict of laws provisions of Delaware or any other jurisdiction.

 

12.2.                     Successors and Assigns.  Except as otherwise 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 Voting 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 Voting Agreement, except as expressly provided by this Voting Agreement.

 

12.3.                     Entire Agreement.  This Voting Agreement and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement among the parties with regard to the subjects hereof and thereof and supersedes and replaces in its entirety the Prior Agreement. Subject to the provisions of Section 12.10 below, neither this Voting Agreement nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed by the party against whom enforcement of any such amendment, waiver, discharge or termination is sought, unless otherwise provided.

 

12.4.                Notices, Etc.  All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, return receipt requested, or otherwise delivered by hand or by messenger or confirmed facsimile, addressed (a) if to a Stockholder, at such Stockholder’s address set forth the signatures page of this Voting Agreement, or at such other address as such Stockholder shall have furnished to the Company in writing, or (b) if to the Company, at its address set forth on the signature page of this Voting Agreement addressed to the attention of the Corporate Secretary, or at such other address as the Company shall have furnished to the Stockholders. Unless specifically stated otherwise, if notice is provided by mail, it shall be deemed to be delivered upon proper deposit in a mailbox, if notice is provided by facsimile, it shall be deemed to be delivered upon receipt by the sender of confirmation of facsimile transmission, and if notice is delivered by hand or by messenger, it shall be deemed to be delivered upon actual delivery.

 

12.5.                Delays or Omissions.  No delay or omission to exercise any right, power, or remedy accruing to any party upon any breach or default of another party under this Voting Agreement shall impair any such right, power, or remedy of such party, nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; 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 party of any breach or default under this Voting Agreement, or any waiver on the part of any party of any provisions or conditions of this Voting Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing or as provided in this Voting Agreement. All remedies, either under this Voting Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

 

10

 

12.6.    Dispute Resolution Fees. If any action at law or in equity is necessary to enforce or interpret the terms of this Voting Agreement, the prevailing party shall be entitled to reasonable attorney’s fees, costs, and disbursements in addition to any other relief to which such party may be entitled.

 

12.7.    Counterparts. This Voting Agreement may be executed in any number of counterparts and signatures may be delivered by facsimile, each of which may be executed by less than all parties, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument.

 

12.8.    Severability. If any provision of this Voting Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Voting Agreement and the balance of the Voting Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.

 

12.9.    Titles and Subtitles.  The titles and subtitles used in this Voting Agreement are used for convenience only and are not to be considered in construing or interpreting this Voting Agreement.

 

12.10. Amendment and Waiver. Subject to the terms of Section 2.1, 2.2 and 2.8, any provision of this Voting Agreement other than Section 4 may be amended or waived (either generally or in a particular instance and either retroactively or prospectively) with the written consent of the Company, the holders of at least sixty percent (60%) of the then outstanding shares of Series C Preferred and Series C-1 Preferred, voting together as single class, and the holders of at least a majority-in-interest of the Common Stock held by the Common Holders (assuming for this purpose that each Common Holder holds, in addition to all then outstanding shares of Common Stock held by such Common Holder, all shares of Common Stock issuable upon the conversion, exercise or exchange of the then vested portion of all Convertible Securities then held by such Common Holder); provided that, no such amendment shall adversely affect any Stockholder in a different or disproportionate manner relative to the other Stockholders of the same class or series unless such amendment is agreed to in writing by such adversely affected Stockholder. Section 4 of this Voting Agreement may be amended or waived (either generally or in a particular instance and either retroactively or prospectively) only with the prior written consent of the Company, the holders of at least sixty percent (60%) of the then outstanding shares of Series C Preferred and Series C-1 Preferred, voting together as single class, and the holders of at least fifty-one percent (51%) of the then outstanding shares of Series C-1 Preferred, voting as a separate class; provided that, no such amendment shall adversely affect any Stockholder in a different or disproportionate manner relative to the other Stockholders of the same class or series unless such amendment is agreed to in writing by such adversely affected Stockholder. Notwithstanding the foregoing, the Company may update and amend Exhibit A to this Voting Agreement and add parties to this Voting Agreement as Investors if such parties become holders of Voting Shares of the Company upon execution by such parties of a signature page to this Voting Agreement without the consent of any other party

 

11

 

hereto. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each Stockholder and the Company.

 

12.11. Stock Splits, Stock Dividends, etc. In the event of any issuance of Voting Shares hereafter to any of the parties hereto (including, without limitation, in connection with any stock split, stock dividend, recapitalization, reorganization or the like), such shares shall become subject to this Voting Agreement and shall be endorsed with the legend set forth in Section 6.

 

[THIS SPACE LEFT BLANK INTENTIONALLY]

 

12

 

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

 

 

	
 
    	
COMPANY:
    
	
 
    	
 
    
	
 
    	
TETRALOGIC PHARMACEUTICALS
   CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ John M. Gill
    
	
 
    	
 
    	
Name:
    	
John M. Gill
    
	
 
    	
 
    	
Its:
    	
Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
Address:
    	
343 Phoenixville Pike
    
	
 
    	
 
    	
Malvern, PA 19355
    
					

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
ONC PARTNERS, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ 
    
	
 
    	
 
    
	
 
    	
Name:
    	
ONC General Partner Limited
    
	
 
    	
(print)
    
	
 
    	
Title:
    	
General Partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Address: 26 New Street, St Helier, JE2 3RA, New Jersey 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NEXTECH III ONCOLOGY, LPCI
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    
	
 
    	
Name:
    	
Nextech III GP Ltd
    
	
 
    	
(print)
    
	
 
    	
Title:
    	
General Partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Address: Scheuchzerstrasse 35 - CH - 8006 Zurich,
   Switzerland
    

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
ONC PARTNERS, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    
	
 
    	
Name:
    	
ONC General Partner Limited
    
	
 
    	
(print)
    
	
 
    	
Title:
    	
General Partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Address: 26 New Street, St Helier, JE2 3RA, New Jersey 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NEXTECH III ONCOLOGY, LPCI
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ 
    
	
 
    	
 
    
	
 
    	
Name:
    	
Nextech III GP Ltd
    
	
 
    	
(print)
    
	
 
    	
Title:
    	
General Partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Address: Scheuchzerstrasse 35 - CH - 8006 Zurich,
   Switzerland
    

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
PFIZER INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Barbara J. Dalton
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Barbara Dalton
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Vice President, Capital
   Worldwide Business Development & Innovation
    

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
CLARUS LIFESCIENCES II, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
Clarus Ventures II GP, LP, its General Partner
    
	
 
    	
 
    
	
 
    	
By:
    	
Clarus Ventures II, LLC, its General Partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ 
    
	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
(print)
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Address:
    	
c/o Clarus Ventures, LLC
   101 Main Street, Suite 1210
   Cambridge MA 02142
    
				

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
HATTERAS VENTURE PARTNERS III, LP
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
HATTERAS VENTURE ADVISORS, LLC, ITS
    
	
 
    	
GENERAL PARTNER
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Signature:
    	
/s/ Douglas Reed
    
	
 
    	
Name:
    	
Douglas Reed
    
	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    	
 
    
	
 
    	
Address:
    	
c/o Hatteras Venture Partners
   280 S. Mangum Street, Suite 350
   Durham, NC 27701
    
	
 
    	
 
    	
 
    
	
 
    	
HATTERAS VENTURE AFFILIATES III, LP
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
HATTERAS VENTURE ADVISORS, LLC, ITS
    
	
 
    	
GENERAL PARTNER
    
	
 
    	
 
    	
 
    
	
 
    	
Signature:
    	
/s/ Douglas Reed
    
	
 
    	
Name:
    	
Douglas Reed
    
	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    	
 
    
	
 
    	
Address: 
    	
c/o Hatteras Venture Partners
   280 S. Mangum Street, Suite 350
   Durham, NC 27701
    
					

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
LATTERELL VENTURE PARTNERS III, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Latterell Capital Management III, L.L.C.
    
	
 
    	
Its:
    	
General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Patrick F. Latterell
    
	
 
    	
Name:
    	
Patrick F. Latterell
    
	
 
    	
Its:
    	
Managing Member
    
	
 
    
	
 
    
	
 
    	
LVP III ASSOCIATES, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Latterell Capital Management III, L.L.C.
    
	
 
    	
Its:
    	
General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Patrick F. Latterell
    
	
 
    	
Name:
    	
Patrick F. Latterell
    
	
 
    	
Its:
    	
Managing Member
    
	
 
    
	
 
    
	
 
    	
LVP III PARTNERS, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Latterell Capital Management III, L.L.C.
    
	
 
    	
Its:
    	
General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Patrick F. Latterell
    
	
 
    	
Name:
    	
Patrick F. Latterell
    
	
 
    	
Its:
    	
Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
Address: 
    	
1 Embarcadero Center
    
	
 
    	
 
    	
Suite 4050
    
	
 
    	
 
    	
San Francisco, CA 94111
    
				

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
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 VOTING AGREEMENT]

 

 

	
 
    	
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
    
	
 
    	
 
    	
 
    
	
 
    	
QUAKER BIOVENTURES TOBACCO FUND, 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
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
BIOADVANCE VENTURES, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
BIOADVANCE GP I, L.P., its general partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
QUAKER BIOADVANCE MANAGEMENT, 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 VOTING AGREEMENT]

 

 

	
 
    	
AMGEN VENTURES LLC
    
	

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

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
/s/ George Mclendon
    
	
 
    	
GEORGE MCLENDON
    

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
PECORA AND COMPANY, LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Andrew Pecora
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Andrew Pecora
    
	
 
    	
 
    	
(print)
    
	
 
    	
Title:
    	
Chairman
    

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

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

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
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 VOTING AGREEMENT]

 

 

	
 
    	
KAMMERER & ASSOCIATES, LP
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Rudolph Kammerer
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Rudolph Kammerer
    
	
 
    	
 
    	
(print)
    
	
 
    	
Title:
    	
Manager
    

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
COMMON STOCKHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ George Mclendon
    
	
 
    	
GEORGE MCLENDON
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Heather McLendon Irrevocable Trust
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ George Mclendon
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
George Mclendon
    
	
 
    	
 
    	
(print)
    
	
 
    	
Title:
    	
Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Audrey McLendon Irrevocable Trust
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ George Mclendon
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
George Mclendon
    
	
 
    	
 
    	
(print)
    
	
 
    	
Title:
    	
Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/ Terry Mclendon
    
	
 
    	
TERRY MCLENDON
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JOHN M. GILL
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
MARK MCKINLAY
    

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

	
 
    	
COMMON STOCKHOLDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
GEORGE MCLENDON
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Heather McLendon Irrevocable Trust
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
(print)
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Audrey McLendon Irrevocable Trust
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
(print)
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TERRY MCLENDON
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ John M. Gill
    
	
 
    	
JOHN M. GILL
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Mark McKinlay
    
	
 
    	
MARK MCKINLAY
    

 

[SIGNATURE PAGE TO VOTING AGREEMENT]

 

 

Exhibit A

 

INVESTORS

 

ONC Partners, L.P.

 

Nextech III Oncology, LPCI

 

Pfizer, Inc.

 

Clarus Lifesciences II, L.P.

 

Hatteras Venture Partners III, LP

 

Hatteras Venture Affiliates III, LP 

 

Latterell Venture Partners III, L.P.

 

LVP III Associates, L.P.

 

LVP III Partners, L.P.

 

Vertical Fund I, LP

 

Vertical Fund II, LP

 

Quaker BioVentures, L.P.

 

Quaker BioVentures Tabacco Func, L.P.

 

BioAdvance Ventures, L.P.

 

Amgen Ventures LLC

 

HealthCare Ventures VII, L.P.

 

Novitas Capital III, L.P. 

 

Kammerer & Associates, L.P.

 

George McLendon

 

Pecora and Company, LLC

 

A-1

 

Exhibit B

 

COMMON HOLDERS

 

 

George McLendon, Ph.D. 

 

John M. Gill

 

Heather McLendon Irrevocable Trust 

 

Audrey McLendon Irrevocable Trust

 

Mark McKinlay

 

Terry McLendon

 

T. Kavitha Rani

 

Susan Billings

 

Lynne and Alex Georgopoulos 

 

David Weng

 

Alexei Degterev

 

Junying Yuan

 

Yigong Shi

 

[Confirm no others to add]

 

B-1

 

Exhibit C

JOINDER AGREEMENT

 

I,__________________________, a holder of shares of Common Stock of TetraLogic Pharmaceuticals Corporation, hereby agree to become a “Common Holder” pursuant to that certain Second Amended and Restated Voting Agreement dated as of May______, 2011 (as amended and/or restated from time to time), and further agree to be bound by and subject to all of the terms and conditions thereof, in my capacity as a Common Holder thereunder.

 

 

	
 
    	
 
    
	
 
    	
 
    
	
Date:
    	
 
    	
 
    
			

 

C-1

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