Document:

EXHIBIT 10.2

 

FIRST AMENDMENT TO THE

AMENDED AND RESTATED
STOCKHOLDERS AGREEMENT

OF

LIPIMETIX DEVELOPMENT, INC.

 

This FIRST AMENDMENT TO THE AMENDED AND RESTATED
STOCKHOLDERS AGREEMENT (the “First Amendment”) is entered into to be effective as of August 11, 2017 (the “Effective
Date”) by and among LipimetiX Development, Inc., a Delaware corporation (the “Company”), and the stockholders
executing this First Amendment below representing the Required Holders (as defined below).

 

RECITALS

 

WHEREAS, the Company and the stockholders of
the Company entered into that certain Amended and Restated Stockholders Agreement, dated as of August 25, 2016 (the “Stockholders
Agreement”);

 

WHEREAS, pursuant to Section 11.1 of the Stockholders
Agreement, the Stockholders Agreement may be amended by a Supermajority in Interest of the Stockholders (as defined therein);

 

WHEREAS, the Company and the undersigned stockholders,
representing a Supermajority in Interest, desire to amend the Stockholders Agreement.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing
and of the mutual promises and conditions hereinafter set forth, the parties hereto agree as follows:

 

A.               
Definitions. Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms as set
forth in the Original Agreement unless the context clearly requires otherwise. References provided in this First Amendment to the
“Agreement” shall be deemed to refer to the Original Agreement as modified by this First Amendment.

 

B.                
Amendment of Definition of “New Shares.” The definition of “New Shares” in Section 1.1 is
hereby amended by replacing clause (b) with the following: “(b) Common Shares issuable upon the exercise of options, warrants
or other rights to purchase such shares issued or issuable pursuant to the Company’s stock option plan(s) in effect from
time to time, or upon the conversion of shares of Series A Preferred Stock or Series B Preferred Stock or convertible debt approved
by the Board,”.

 

C.                
Amendment of Section 2. Section 2.1 is hereby amended to read in its entirety as set forth below:

 

2.1       Board
of Directors; Composition; Vacancies. Each Stockholder shall vote (in person, by proxy or by action by written consent, as
applicable) all of such Stockholder’s Capital Stock, whether now owned or hereafter acquired or which such Stockholder may
be empowered to vote, from time to time and at all times, in whatever manner shall be necessary to ensure that the number of directors
who comprise the Board shall be seven (7) and the members of the Board shall consist of the following:

 

     

     

    

(a)       Subject
to the provisions of Section 2.1(e) below, the Board shall be comprised as follows: (i) provided that the LX Stockholders continue
to hold any Shares, three (3) individuals designated in writing by the LX Majority Holders (the “LX Directors”),
who shall initially be Dennis I. Goldberg, Ph.D., Eric Morrel, Ph.D., and a person to be designated by the LX Majority Holders;
(ii) provided that the CAPS Stockholders continue to hold any Shares, three (3) individuals designated in writing by the CAPS Majority
Holders (the “CAPS Directors”), who shall initially be J.M. Holliman, III, Randolph C. Steer, M.D., Ph.D., and
Michael M. Toporek; and (iii) provided that the Series B Investors continue to hold any shares of Series B-1 Preferred Stock, one
individual, provided such individual constitutes a Qualified Designee as defined below, designated in writing by the Series B-1
Majority Holders (the “Series B Director”), who shall initially be Randall R. Lunn. To the extent that any of
the clauses in (i) through (iii) shall not be applicable because the LX Stockholders, CAPS Stockholders or Series B Investors,
as applicable, no longer hold any of the applicable shares of the Company, any members of the Board who would otherwise have been
designated in accordance with the terms thereof shall instead be voted upon by all of the stockholders of the Company entitled
to vote thereon in accordance with, and pursuant to, the Certificate of Incorporation.

 

(b)       In
the event that a vacancy is created on the Board at any time due to the death, disability, retirement, resignation or removal of
a LX Director and provided that the LX Majority Holders are still entitled to designate the LX Directors pursuant to Section 2.1(a)
above, then the LX Majority Holders shall have the right to designate an individual to fill such vacancy, provided that such individual
constitutes a Qualified Designee, and the Company and each Stockholder hereby agree to take such actions as may be required to
ensure the election or appointment of such designee to fill such vacancy on the Board. In the event that the LX Majority Holders
shall fail to designate in writing a representative to fill a vacant LX Director position on the Board, and such failure shall
continue for more than fifteen (15) days after notice from any director to the LX Stockholders with respect to such failure, then
the vacant position shall be filled by an individual designated by the LX Directors then in office; provided, however,
that such individual shall be removed from such position if the LX Majority Holders so direct and simultaneously designate a new
LX Director.

 

(c)       In
the event that a vacancy is created on the Board at any time due to the death, disability, retirement, resignation or removal of
a CAPS Director and provided that the CAPS Majority Holders are still entitled to designate the CAPS Directors pursuant to Section
2.1(a) above, then the CAPS Majority Holders shall have the right to designate an individual to fill such vacancy, provided that
such individual constitutes a Qualified Designee, and the Company and each Stockholder hereby agree to take such actions as may
be required to ensure the election or appointment of such designee to fill such vacancy on the Board. In the event that the CAPS
Majority Holders shall fail to designate in writing a representative to fill a vacant CAPS Director position on the Board, and
such failure shall continue for more than fifteen (15) days after notice from any director to the CAPS Stockholders with respect
to such failure, then the vacant position shall be filled by an individual designated by the CAPS Directors then in office; provided,
however, that such individual shall be removed from such position if the CAPS Majority Holders so direct and simultaneously
designate a new CAPS Director.

 

     

     

    

(d)       In
the event that a vacancy is created on the Board at any time due to the death, disability, retirement, resignation or removal of
a Series B Director and provided that the Series B-1 Majority Holders are still entitled to designate the applicable Series B Director
pursuant to Section 2.1(a) above, then the Series B-1 Majority Holders shall have the right to designate an individual to fill
such vacancy, provided that such individual constitutes a Qualified Designee, and the Company and each Stockholder hereby agree
to take such actions as may be required to ensure the election or appointment of such designee to fill such vacancy on the Board.
In the event that the Series B-1 Majority Holders shall fail to designate in writing a representative to fill the vacant Series
B Director position on the Board, and such failure shall continue for more than fifteen (15) days after notice from any director
to the Series B Investors with respect to such failure, then the vacant position shall be filled by the remaining Directors then
in office; provided, however, that such individual shall be removed from such position if the Series B-1 Majority
Holders so direct and simultaneously designate a new Series B Director.

 

(e)       As
used herein, a “Qualified Designee” shall mean a designee for election to the Board that satisfies the following
requirements:

 

(i)       none
of the “bad actor” disqualifying events described in Rule 506(d)(1)(i)-(viii) promulgated under the Securities Act
of 1933, as amended (each, a “Disqualification Event”) shall be applicable to such designee; and

 

(ii)       Such
designee shall not be employed by, provide services to, or otherwise be affiliated with a Directly Competitive Business.

 

D.               
Full Force and Effect. All of the provisions of the Original Agreement are ratified and confirmed except as modified
by this First Amendment.

 

E.                
Counterpart. This First Amendment may be executed in one or more counterparts, each of which shall be deemed an original
but all of which together shall be deemed one original. PDF or facsimile copies of manually executed signature pages to this First
Amendment are fully binding and enforceable without the need for delivery of the original manually executed signature page.

 

F.                 
Cooperation. Each party hereto agrees to execute and deliver such additional documents and instruments and to perform
such additional acts as any party may reasonably request or as may be reasonably necessary or appropriate to effectuate, consummate
and perform any other terms, provisions, or conditions of this First Amendment or the Original Agreement.

 

[Remainder of page intentionally left blank. Signature page follows.]

 

 

 

     

     

    

IN WITNESS WHEREOF, the parties have executed
this First Amendment, effective as of the date first set forth above.

 

 

 

	 	
        COMPANY:

         

        LIPIMETIX DEVELOPMENT, INC.

         

         

        By:  /s/ Dennis I. Goldberg, Ph.D.                   

        Name: Dennis I. Goldberg, Ph.D.                    

        Title:  President & CEO                                     

         

 

 

 

	 	STOCKHOLDERS:

         

	 	
        CAPS:

         

        CAPSTONE THERAPEUTICS CORP.,

        a Delaware corporation

         

        By: /s/ John M. Holliman, III                 

        J.M. Holliman, III

        Executive Chairman

         

        LX STOCKHOLDERS:

         

        /s/ Dennis I. Goldberg, Ph.D.                 

        Dennis I. Goldberg, Ph.D.

         

        /s/ M. Francis                                           

        Estate of Philip M. Friden, Ph.D.

         

        /s/ Eric Morrel, Ph.D.                              

         Eric Morrel, Ph.D.

         

        /s/ G.M. Anantharamaiah                       

        G.M. Anantharamaiah

         

        /s/ Palgunachari Mayakonda                 

        Palgunachari Mayakonda

         

        _____________________________

        Frederick Meyer

         

         

 

     

     

    

 

	 	Michael Webb 

                                       ______________________________

                                       Jeffrey Elton

 

 

THE UAB RESEARCH FOUNDATION

 

 

By: ___________________________

Kathy L. Nugent

Chief Executive Officer

 

 

 

 

	 	SERIES B INVESTORS:

         

	 	
         

        JAMES W. STUCKERT REVOCABLE TRUST

         

        By: ________________________________

         

        Its: ________________________________

         

	 	
         

        SOLOMON ODEN HOWELL REV. TRUST

         

        By: ________________________________

         

        Its: ________________________________

         

	 	
         

        ___________________________________

        John F. Rasor, Sole and Separate

         

	 	
         

        ___________________________________

        John M. Holliman III, Sole and Separate

         

         

		
        NAPEAN CAPITAL GROUP, LLC

         

        By: ________________________________

         

        Its: ________________________________

         

	 	
         

         

        ___________________________________

        Parvinderjit Singh Khanuja

         

         

 

     

     

    

	 	
        THE TAMBOLI FAMILY TRUST

         

        By: ________________________________

         

        Its: ________________________________

         

	 	
        MLPF&S AS CUSTODIAN FBO MARK PRYNN

         

        By: ________________________________

         

        Its: ________________________________

         

	 	
        SATISH JOSHI AND SHIMA JOSHI FAMILY TRUST DATED NOV. 1st, 1996

         

        By: ________________________________

         

        Its: ________________________________

         

	 	
         

        ___________________________________

        Quinn P. Williams

         

	 	
         

        ___________________________________

        Randall R. Lunn

         

	 	
         

        ___________________________________

        Harry GeorgeEXHIBIT 10.3

 

JOINDER AND COUNTERPART SIGNATURE PAGE OF

REGISTRATION RIGHTS AGREEMENT OF

LIPIMETIX DEVELOPMENT, INC.

 

As of August 11, 2017, the undersigned has executed
this counterpart signature to the Registration Rights Agreement entered into as of August 25, 2016, by and among the Company, the
Common Holders and the Investors (as such terms are defined therein), and does hereby agree to be bound by all of the obligations
as an “Investor” thereunder and the terms thereof as though originally an Investor thereto.

 

 

CAPSTONE THERAPEUTICS CORP.,

a Delaware corporation

 

 

By: /s/ Leslie M. Taeger              

Name: Leslie M. Taeger              

Title:  CFO

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