Document:

exv10w1

 

AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT

     THIS AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT, dated as of September 21, 2005 (this
“Agreement”), amends and restates that certain Stockholders’ Agreement, dated as of June 21, 2002
(the “Original Agreement”), as previously amended by that certain Amendment to Stockholders’
Agreement, dated as of December 4, 2002, by and among J. Richard Steadman, Sanderling Venture
Partners IV Co-Investment Fund, L.P., Sanderling IV Biomedical Co-Investment Fund, L.P., Sanderling
IV Venture Management, Sanderling Venture Partners V Co-Investment Fund, L.P., Sanderling V
Biomedical Co-Investment Fund, L.P., Sanderling V Limited Partnership, Sanderling V Beteiligungs
GmbH & Co. KG, Sanderling V Ventures Management, Sanderling Venture Partners II, L.P., Sanderling
Ventures Limited, L.P. (each of the foregoing, a “Stockholder,” and collectively, the
“Stockholders”), Centerpulse USA Holding Co. (“Centerpulse”) and ReGen Biologics, Inc. (formerly
Aros Corporation), a Delaware corporation (“Parent”). Capitalized terms used herein without
definition shall have the meanings assigned to them in the Merger Agreement (defined below).

     WHEREAS, Parent, Aros Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary
of Parent (“Acquisition Sub”), and RBio, Inc. (formerly ReGen Biologics, Inc.), a Delaware
corporation (the “Company”), entered into an Agreement and Plan of Merger, dated as of June 7, 2002
(the “Merger Agreement”), pursuant to which, effective as of June 21, 2002, Acquisition Sub merged
with and into the Company (the “Merger”) and each outstanding share of Company Common Stock and
Company Preferred Stock was converted into the right to receive shares of Parent Common Stock,
Parent Series A Stock and/or Parent Series B Stock on the terms and subject to the conditions set
forth in the Merger Agreement;

     WHEREAS, as of the date hereof, each Stockholder is the owner of shares of Parent Common
Stock, Parent Series A Stock, Parent Series B Stock and/or the Series C Convertible Preferred
Stock, par value $0.01 per share, of Parent (with respect to each Stockholder, such Stockholder’s
“Existing Parent Shares” and, together with any shares of capital stock of Parent acquired after
the date hereof, whether upon the exercise of warrants, options, conversion of convertible
securities or otherwise, such Stockholder’s “Parent Shares”);

     WHEREAS, as an inducement and a condition to effecting the Merger under the Merger Agreement,
the Stockholders agreed to enter into the Original Agreement;

     WHEREAS, the Stockholders amended the Original Agreement on December 4, 2002, to remove Allen
& Company Incorporated as a party to the Original Agreement and release Allen & Company
Incorporated from all of its obligations under the Original Agreement; and

     WHEREAS, among other things, the Stockholders desire to amend and restate the Original
Agreement, as previously amended, to (i) set forth their agreement with respect to the voting of
their respective Parent Shares in connection with the constitution of and election of members to
the Board of Directors of Parent upon the terms and subject to the conditions set forth herein, and
(ii) to remove Centerpulse as a party thereto and release Centerpulse from all of its obligations
thereunder, effective as of the date hereof.

 

 

     NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties,
covenants and agreements herein contained, and intending to be legally bound hereby, the parties
hereto agree as follows:

1. Voting.

     1.1. Agreement to Vote Parent Shares. Each Stockholder hereby agrees, severally and
not jointly, that such Stockholder shall, and shall cause the holder of record of such
Stockholders’ Parent Shares on any applicable record date to, from time to time, at any meeting
(whether annual or special and whether or not an adjourned or postponed meeting) of stockholders of
Parent held on or after the date of this Agreement, however called, in accordance with Parent’s
certificate of incorporation, bylaws and applicable law:

	 	(a)	 	if a meeting is held, appear at such meeting or otherwise cause
all of such Stockholder’s Parent Shares to be counted as present thereat for
purposes of establishing a quorum; and
	 
	 	(b)	 	vote or consent (or cause to be voted or consented), in person
or by proxy, all of such Stockholder’s Parent Shares, and any other voting
securities of Parent (whether acquired heretofore or hereafter) that are
beneficially owned or held of record by such Stockholder or as to which such
Stockholder has, directly or indirectly, the right to vote or direct the
voting, or take such other necessary or desirable action within such
Stockholder’s control in favor of the following:

	 	(1)	 	The authorized number of directors on Parent’s
Board of Directors shall be maintained at seven (7) members;
	 
	 	(2)	 	The following persons shall be elected to
Parent’s Board of Directors:

	 	(i)	 	The then current Chief Executive
Officer of Parent, who shall initially be Gerald E. Bisbee, Jr.;
	 
	 	(ii)	 	Two (2) designees of Sanderling
Ventures, one of whom initially shall be Dr. Robert G. McNeil
and one of whom shall be deemed independent as defined in
Section 4200(a)(15) of the National Association of Securities
Dealers or the rules of any national securities exchange where
the Company intends to list its common stock; and

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	 	(iii)	 	Four (4) designees of a majority of the members of the Board
of Directors of Parent, one of whom initially shall be Dr.
Abhi Acharya, one of whom initially shall be Alan W. Baldwin,
one of whom initially shall be Dr. Richard Steadman, and one
of whom initially shall be William R. Timken.

	 	(3)	 	Any director designated in accordance herewith
shall be removed upon the request of the party or group who designated
such director and, upon such removal, or upon any resignation of any
such director, an individual selected by the party or group entitled to
designate such director hereunder shall be elected to Parent’s Board of
Directors;
	 
	 	(4)	 	The amendment of Parent’s bylaws as may be
required to provide for the governance of Parent as contemplated by
this Agreement and the Merger Agreement; and
	 
	 	(5)	 	A reverse stock split if approved by Parent’s
Board of Directors.

	 	(c)	 	vote or consent (or cause to be voted or consented), in person
or by proxy, all of such Stockholders’ Parent Shares, and any other voting
securities of Parent (whether acquired heretofore or hereafter) that are
beneficially owned or held of record by such Stockholder or as to which such
Stockholder has, directly or indirectly, the right to vote or direct the
voting, (i) against any amendment or change to the certificate of incorporation
or bylaws of Parent providing for the election of less than seven (7)
directors, or any other amendment or change to the certificate of incorporation
or bylaws inconsistent with the terms of this Agreement, and (ii) in favor of
any amendment or change to the certificate of incorporation or bylaws necessary
to be made to render such certificate of incorporation or bylaws consistent
with the terms of this Agreement.

     1.2. Failure to Designate. If any party or group fails to designate a representative
to fill a directorship pursuant to the terms of Section 1.1, the election of a person to such
directorship shall be accomplished in accordance with Parent’s certificate of incorporation, bylaws
and applicable law.

     1.3. No Ownership Interest. Nothing contained in this Agreement shall be deemed to
vest in Parent any direct or indirect ownership or incidents of ownership of or with respect to any
Parent Shares now owned or hereafter issued to the Stockholders pursuant to the Merger or
otherwise. All rights, ownership and economic benefits of and relating to the Parent Shares shall
remain vested in and belong to the Stockholders, and Parent shall have no authority to direct the
Stockholders in the voting of any of the Parent Shares, except as otherwise provided herein, or in
the performance of the Stockholders’ duties or responsibilities as stockholders of Parent.

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     1.4. No Inconsistent Agreements. Each Stockholder hereby covenants and agrees that,
except as contemplated by this Agreement and the Merger Agreement, the Stockholder (a) has not
entered, and shall not enter at any time while this Agreement remains in effect, into any voting
agreement or voting trust with respect to the Parent Shares and (b) has not granted, and shall not
grant at any time while this Agreement remains in effect, a proxy or power of attorney with respect
to the Parent Shares, in case of either (a) or (b), which is inconsistent with such Stockholder’s
obligations pursuant to this Agreement.

     1.5. Legend.

	 	(a)	 	Concurrently with the execution of this Agreement, there shall
be imprinted or otherwise placed, on certificates representing the Parent
Shares, the following restrictive legend (the “Legend”):

	 	 	 	“THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS
AND CONDITIONS OF A STOCKHOLDERS’ AGREEMENT WHICH PLACES CERTAIN
RESTRICTIONS ON THE VOTING OF THE SHARES REPRESENTED HEREBY. ANY
PERSON ACCEPTING ANY INTEREST IN SUCH SHARES SHALL BE DEEMED TO
AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SUCH
STOCKHOLDERS’ AGREEMENT. A COPY OF SUCH STOCKHOLDERS’ AGREEMENT
WILL BE FURNISHED TO THE RECORD HOLDER OF THIS CERTIFICATE WITHOUT
CHARGE UPON WRITTEN REQUEST TO THE COMPANY AT ITS PRINCIPAL PLACE OF
BUSINESS.”

	 	(b)	 	Parent agrees that, during the term of this Agreement, it will
not remove, and will not permit to be removed (upon registration of transfer,
reissuance of otherwise), the Legend from any such certificate and will place
or cause to be placed the Legend on any new certificate issued to represent
Parent Shares theretofore represented by a certificate carrying the Legend.

     1.6. Removal of Centerpulse. Centerpulse shall not be a party to this Agreement, as a
Stockholder or otherwise, and Parent and the Stockholders shall release Centerpulse from all of its
obligations under the Original Agreement, as amended, including the voting obligations set forth in
Section 1.1 therein, with respect to all Parent Shares now or hereafter owned or held by
Centerpulse, such removal and release to be effective as of the date of this Agreement.

2. Representations and Warranties of Each Stockholder. Each Stockholder hereby, severally
and not jointly, represents and warrants to Parent and the other Stockholders as follows:

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     2.1. Authorization; Validity of Agreement; Necessary Action. Such Stockholder has full
power and authority, or legal capacity in the case of an individual stockholder, to execute and
deliver this Agreement, to perform such Stockholder’s obligations hereunder and to consummate the
transactions contemplated hereby. The execution, delivery and performance by such Stockholder of
this Agreement and the consummation by such Stockholder of the transactions contemplated hereby
have been duly and validly authorized by such Stockholder and no other actions or proceedings on
the part of such Stockholder are necessary to authorize the execution and delivery by such
Stockholder of this Agreement and the consummation of the transactions contemplated hereby. This
Agreement has been duly executed and delivered by such Stockholder, and, assuming this Agreement
constitutes a valid and binding obligation of Parent, constitutes a valid and binding obligation of
such Stockholder, enforceable in accordance with its terms, except as such enforcement may be
limited by applicable bankruptcy, insolvency or other similar laws, now or hereafter in effect,
affecting creditors’ rights generally.

     2.2. Consents and Approvals; No Violations. None of the execution, delivery or
performance of this Agreement by such Stockholder nor the consummation of the transactions
contemplated hereby nor compliance with any of the provisions hereof by such Stockholder will (i)
require any filing with, or approval of, any Governmental Entity, (ii) result in a violation or
breach of, or constitute (with or without due notice or lapse of time or both) a default (or give
rise to any right of termination, amendment, cancellation or acceleration) under, or result in the
creation or imposition of any lien upon any of the assets or properties of such Stockholder under,
any of the terms, conditions or provisions of any note, bond, mortgage, indenture, guarantee, other
evidence of indebtedness, lease, license, contract, agreement, judgment, order, notice, decree,
statute, law or other instrument or obligation to which such Stockholder is a party or by which
such Stockholder or any of such Stockholder’s properties or assets may be bound or (iii) violate
any order or law applicable to such Stockholder or any of such Stockholder’s properties or assets,
except in each case as would not have a material adverse effect on such Stockholder’s ability to
consummate the transactions contemplated hereby.

     2.3. No Group. Each Stockholder is acting individually and not as part of a “group”
as defined in the Exchange Act.

     2.4. Shares. Each Stockholder owns all of his, her or its respective Existing Parent
Shares, free and clear of all liens, encumbrances, charges, pledges and other security interests.

	3.	 	Miscellaneous.

	 	3.1.	 	Further Agreements.

	 	(a)	 	Each Stockholder, severally and not jointly, hereby agrees,
while this Agreement is in effect, and except as contemplated hereby, that upon
any sale, transfer, pledge, or other disposition of any Parent Shares to any
Person, such Person or entity shall agree to be bound by all of the terms and
conditions of this Agreement, and the Stockholder shall deliver a duly executed
copy of the Agreement to Parent to evidence such Agreement prior to any such
sale, transfer, pledge or other disposition.

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	 	(b)	 	Each Stockholder shall not request that Parent or its transfer
agent register the transfer (book-entry or otherwise) of any certificate or
uncertificated interest representing any of such Stockholder’s Parent Shares,
and hereby consents to the entry of stop transfer instructions by Parent of any
transfer of such Stockholder’s Parent Shares, unless such transfer is made in
compliance with this Agreement.
	 
	 	(c)	 	In the event of a stock dividend or distribution, or any change
in Parent’s capital stock by reason of any stock dividend or distribution,
split-up, recapitalization, combination, exchange of shares or the like, the
term “Parent Shares,” as applicable, shall be deemed to refer to and include
the Parent Shares as well as all such stock dividends and
distributions and any shares into which or for which any or all of the Parent Shares may be changed
or exchanged.

	 	3.2.	 	Termination.

	 	(a)	 	This Agreement shall terminate and no party shall have any
rights or duties hereunder upon the earliest to occur of (i) June 21, 2007,
(ii) a Change of Control of Parent (as defined below) or (iii) the re-listing
of Parent Common Stock on a national securities exchange or the NASDAQ National
Market System. Upon any termination of this Agreement, this Agreement shall
thereupon become void and of no further force and effect, provided,
however, that nothing in this Section 3.2 shall relieve or otherwise
limit any party of liability for breach of this Agreement.
	 
	 	(b)	 	For purposes of this Agreement, “Change of Control” of Parent
shall mean the earliest to occur of (i) a merger or consolidation to which
Parent is a party and which results in, or is effected in connection with, a
change in ownership of a majority of the outstanding shares of voting stock of
Parent, (ii) any sale or transfer of all or substantially all of the assets of
Parent to any Person or Persons not an affiliate or affiliates of Parent, (iii)
the sale by the stockholders of Parent of a majority of the voting stock of
Parent to any Person or Persons not an affiliate or affiliates of Parent or
(iv) a liquidation or dissolution of Parent. A Change of Control shall not
include any change in ownership of Parent Shares contemplated by or resulting
from the Merger.

	 	3.3.	 	Several Obligations; Capacity; Reliance.

	 	(a)	 	The representations, warranties, covenants, obligations,
agreements and conditions of this Agreement applicable to the Stockholders are
several and not joint.
	 
	 	(b)	 	The obligations of the Stockholders hereunder are several and
not joint and the covenants and agreements of the Stockholders herein are made
only in their capacity as stockholders of Parent and not as directors.

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	 	(c)	 	Each Stockholder understands and acknowledges that Parent
entered into the Merger Agreement in reliance upon such Stockholder’s execution
and delivery of the Original Agreement.

     3.4. Further Assurances. From time to time, at any other party’s request and without
further consideration, each party hereto shall execute and deliver such additional documents and
take all such further action as may be necessary or desirable to consummate the transactions
contemplated by this Agreement.

     3.5. Notices. All notices or other communications which are required or permitted
hereunder shall be in writing and sufficient if delivered personally or sent by nationally
recognized overnight courier or by registered or certified mail (postage prepaid, return receipt
requested), or by electronic mail with a copy thereof to be delivered or sent as provided above or
by facsimile or telecopier, as follows:

	 	(a)	 	If to Parent:

ReGen Biologics, Inc.

509 Commerce Street

East Wing

Franklin Lakes, New Jersey 07417

Attention: Gerald E. Bisbee, Jr., Ph.D.

With a copy to:

Pillsbury Winthrop Shaw Pittman LLP

2300 N Street, NW

Washington, DC 20037

Attention: Jeffrey Grill

Facsimile: (202) 663-8007

	 	(b)	 	If to any of the Stockholders, to the address set forth under
its name on such Stockholders’ signature page hereto;

or to such other address as the party to whom notice is to be given may have furnished to the other
parties in writing in accordance herewith. All such notices or communications shall be deemed to be
received (i) in the case of personal delivery, nationally recognized overnight courier or
registered or certified mail, on the date of such delivery and (ii) in the case of facsimile or
telecopier or electronic mail, upon confirmed receipt.

     3.6. Interpretation. When a reference is made in this Agreement to Sections,
subsections, Schedules or Exhibits, such reference shall be to a Section, subsection, Schedule or
Exhibit to this Agreement unless otherwise indicated. The words “include,” “includes” and
“including” when used herein shall be deemed in each case to be followed by the words “without
limitation.” The word “herein” and similar references mean, except where a specific Section or
Article reference is expressly indicated, the entire Agreement rather than any specific Section or
Article. The headings contained in this Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation of this Agreement.

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     3.7. Severability. If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced by any rule of law, or public policy, all other conditions
and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner
adverse to any party. Upon such determination that any term or other provision is invalid, illegal
or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the parties as closely as possible in an
acceptable manner to the end that transactions contemplated hereby are fulfilled to the extent
possible.

     3.8. Entire Agreement; No Third Party Beneficiaries. This Agreement, the Merger
Agreement and the documents referred to herein and therein constitute the entire agreement and
supersede all prior agreements and understandings, both written and oral, among the parties with
respect to the subject matter hereof and thereof, and are not intended to confer upon any Person
other than the parties hereto and thereto any rights or remedies hereunder and thereunder.

     3.9. Amendments; Assignment. This Agreement may be amended (or provisions of this
Agreement waived) only by an instrument in writing signed by (a) Parent and (b) the holders of at
least a majority of the outstanding Parent Shares at the time of such amendment or approval. Any
amendment or waiver so effected shall be binding upon Parent, each of the parties hereto and any
assignee of any such party. No waivers of any breach of this Agreement extended by any party hereto
to any other party shall be construed as a waiver of any rights or remedies of any other party
hereto or with respect to any subsequent breach. This Agreement shall be binding upon and inure to
the benefit of the parties and their respective successors and permitted assigns. Unless a
Stockholder has complied with Section 3.1 hereof, neither this Agreement nor any of the rights,
interests or obligations under this Agreement shall be assigned, in whole or in part, by any such
Stockholder without the prior written consent of the other parties, and any purported assignment
without such consent shall be void.

     3.10. Failure or Indulgence Not Waiver; Remedies Cumulative. No failure or delay on
the part of any party hereto in the exercise of any right hereunder will impair such right or be
construed to be a waiver of, or acquiescence in, any breach of any representation, warranty or
agreement herein, nor will any single or partial exercise of any such right preclude other or
further exercise thereof or of any other right. All rights and remedies existing under this
Agreement are cumulative to, and not exclusive to, and not exclusive of, any rights or remedies
otherwise available.

     3.11. Governing Law; Enforcement. This Agreement and the rights and duties of the
parties hereunder shall be governed by, and construed in accordance with, the law of the State of
Delaware. The parties agree that irreparable damage would occur in the event that any of the
provisions of this Agreement were not performed in accordance with their specific terms or were
otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction
or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions of this Agreement, this being in addition to any other remedy to which they are entitled
at law or in equity.

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     3.12. Counterparts. This Agreement may be executed in two or more counterparts, each
of which when executed shall be deemed to be an original but all of which taken together shall
constitute one and the same agreement.

[Signature Pages Follow]

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     IN WITNESS WHEREOF, Parent and each of the undersigned Stockholders has signed this Agreement
or caused this Agreement to be signed by their respective officers or other authorized person
thereunto duly authorized as of the date first written above.

	 	 	 	 	 
	 	 	REGEN BIOLOGICS, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Brion D. Umidi
	 

	 	 	 	 
	 	 	Name: Brion D. Umidi
	 	 	Title: Senior Vice President & CFO
	 
	 	 	 	 
	 	 	J. RICHARD STEADMAN
	 
	 	 	 	 
	 	 	/s/ J. Richard Steadman
	 	 	 
	 	 	Notice Address: 181 W. Meadow Drive
	 	 	Vail, CO 81657
	 	 	Facsimile: (970) 479-5861
	 
	 	 	 	 
	 	 	SANDERLING VENTURE PARTNERS IV
	 	 	CO-INVESTMENT FUND, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: General Partner
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073

[Signature Page to Amended and Restated Stockholders’ Agreement]

 

 

	 	 	 	 	 
	 	 	SANDERLING IV BIOMEDICAL
	 	 	CO-INVESTMENT FUND, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: General Partner
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Manteo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073
	 
	 	 	 	 
	 	 	SANDERLING IV VENTURE MANAGEMENT
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: Owner
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073

[Signature Page to Amended and Restated Stockholders’ Agreement]

 

 

	 	 	 	 	 
	 	 	SANDERLING VENTURE PARTNERS V
	 	 	CO-INVESTMENT FUND, L.P.
	 
	 	 	 	 
	 	 	By: Middleton, McNeil & Mills Associates V, LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: Managing Director
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073
	 
	 	 	 	 
	 	 	SANDERLING V BIOMEDICAL
	 	 	CO-INVESTMENT FUND, L.P.
	 
	 	 	 	 
	 	 	By: Middleton, McNeil & Mills Associates V, LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: Managing Director
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073

[Signature Page to Amended and Restated Stockholders’ Agreement]

 

 

	 	 	 	 	 
	 	 	SANDERLING V LIMITED PARTNERSHIP
	 
	 	 	 	 
	 	 	By: Middleton, McNeil & Mills Associates V, LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: Managing Director
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073
	 
	 	 	 	 
	 	 	SANDERLING V BETEILIGUNGS GMBH & CO. KG
	 
	 	 	 	 
	 	 	By: Middleton, McNeil & Mills Associates V, LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: Managing Director
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073

[Signature Page to Amended and Restated Stockholders’ Agreement]

 

 

	 	 	 	 	 
	 	 	SANDERLING V VENTURES MANAGEMENT
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: Owner
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073
	 
	 	 	 	 
	 	 	SANDERLING VENTURE PARTNERS II, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: General Partner
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073

[Signature Page to Amended and Restated Stockholders’ Agreement]

 

 

	 	 	 	 	 
	 	 	SANDERLING VENTURES LIMITED, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robert G. McNeil
	 

	 	 	 	 
	 	 	Name: Robert G. McNeil
	 	 	Title: General Partner
	 	 	Notice Address: 400 South El Camino Real, Suite 1200
	 	 	San Mateo, CA 94402-1708
	 	 	Facsimile: (650) 375-7073

[Signature Page to Amended and Restated Stockholders’ Agreement]exv10w1

 

EXHIBIT 10.1

Summary of Director Compensation

	 	 	 	 	 
	Annual Retainer:
	 	$	20,000	 
	In-Person Board of Director Meeting:
	 	$	2,000	 
	Additional In-Person Board of Director Meetings held on the day
following an In-Person Board Meeting:
	 	$	1,000	 
	Telephonic Board of Director Meetings:
	 	$	1,000	 
	Lead Director — Annual Retainer:
	 	$	1	 
	Audit Committee Meeting — Chair:
	 	$	3,000	 
	Audit Committee Meeting — Member:
	 	$	1,000	 
	Compensation Committee Meeting — Chair:
	 	$	1,000	 
	Compensation Committee Meeting — Member:
	 	$	500	 
	Product Acquisition Committee Meeting — Half Day:
	 	$	1,000	 
	Product Acquisition Committee Meeting — Full Day:
	 	$	2,000

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