Document:

rare-ex43_731.htm

 

Exhibit 4.3

DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO 
SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

The following description of the capital stock of Ultragenyx Pharmaceutical Inc. (“Ultragenyx”) does not purport to be complete and is subject to, and qualified in its entirety by, our amended and restated certificate of incorporation (“certificate”) and our amended and restated bylaws (“bylaws”), each of which is incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this exhibit is a part.

General

Our authorized capital stock consists of 250,000,000 shares of common stock, $0.001 par value, and 25,000,000 shares of preferred stock, $0.001 par value per share. We have one class of securities registered under Section 12 of the Securities Exchange Act of 1934, our common stock, which is listed on the Nasdaq Global Select Market under the symbol “RARE.”

Common Stock

Voting rights. The holders of our common stock are entitled to one vote per share on all matters submitted to a vote of stockholders. A plurality of the votes cast is required for stockholders to elect directors. All other matters put to a stockholder vote generally require the approval of a majority of the votes cast, except as otherwise provided by our certificate or bylaws or required by law. Stockholders do not have cumulative voting rights. 

Dividends. The holders of our common stock are entitled to receive dividends ratably, if any, as may be declared by our board of directors out of legally available funds, subject to any preferential dividend rights of any preferred stock then outstanding.

Liquidation. Upon our dissolution, liquidation or winding up, holders of our common stock are entitled to share ratably in our net assets legally available after the payment of all our debts and other liabilities, subject to the preferential rights of any preferred stock then outstanding.

Preemptive, subscription and conversion rights. Our common stock is not redeemable and has no preemptive, subscription or conversion rights. 

Transfer agent. The transfer agent and registrar for our common stock is the American Stock Transfer & Trust Company

The rights, preferences and privileges of holders of our common stock are subject to the rights of the holders of shares of any series of preferred stock which we may issue. 

Preferred Stock

Our board of directors has the authority, without further action by our stockholders, to issue up to 25,000,000 shares of preferred stock, none of which are outstanding. Our board of directors may issue preferred stock in one or more series and fix the rights, preferences, privileges and restrictions of such preferred stock, including:

	
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dividend rights;

	
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dividend rate;

	
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conversion rights;

	
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voting rights; 

	
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rights and terms of redemption; 

	
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redemption price or prices; 

1

 

	
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the liquidation preferences of any wholly unissued series of preferred stock; and 

	
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the number of shares constituting any series or the designation of such series.

The issuance of preferred stock could decrease the amount of earnings and assets available for distribution to the holders of our common stock or adversely affect the rights and powers, including voting rights, of the holders of our common stock.

Anti-Takeover Provisions

Some provisions of our certificate, bylaws and Delaware law may have the effect of delaying, discouraging or preventing a change in control of us or changes in our management. Pursuant to our certificate and bylaws:

	
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the board of directors is authorized to issue “blank check” preferred stock without stockholder approval;

	
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the board of directors is classified, with members serving staggered three-year terms;

	
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vacancies on the board of directors may be filled only by the board of directors;

	
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stockholders may remove directors only for cause;

	
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the board of directors is expressly authorized to make, alter or repeal any provision of our bylaws;

	
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stockholders may amend our bylaws and specified provisions of our certificate only with the affirmative vote of the holders of 75% of the voting power of the common stock outstanding and entitled to vote on the matter;

	
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stockholders may not cumulate votes in the election of directors;

	
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stockholders may take action only at a duly called meeting of the stockholders, and stockholders are not permitted to act by written consent;

	
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special meetings of the stockholders may be called only by the board of directors or the chairman of the board;

	
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stockholders must satisfy advance notice procedures to submit proposals or nominate directors for consideration at a stockholders meeting; and

	
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we will indemnify officers and directors against losses that they may incur as a result of investigations and legal proceedings resulting from their services to us, which may include services in connection with takeover defense measures.

In addition, we are subject to the provisions of Section 203 of the Delaware General Corporation Law (“DGCL”). In general, the statute prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years after the date that the person became an interested stockholder unless, with some exceptions, the business combination or the transaction in which the person became an interested stockholder is approved in a prescribed manner. Generally, a “business combination” includes a merger, asset or stock sale or other transaction resulting in a financial benefit to the stockholder, and an “interested stockholder” is a person who, together with affiliates and associates, owns (or within three years prior, did own) 15% or more of the corporation’s outstanding voting stock. This provision may have the effect of delaying, deferring or preventing a change in control without further action by the stockholders.

Exclusive Forum

Our certificate provides that unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the sole and exclusive forum for: (i) any derivative action or proceeding brought on our behalf; (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer, employee or agent of Ultragenyx or our stockholders; (iii) any action asserting a claim against us arising pursuant to any provision of the DGCL, or our restated certificate of incorporation or our amended and restated bylaws; or (iv) any action asserting a claim against us or any of our directors, officers, employees or agents governed by the internal affairs doctrine. Our certificate also provides that any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock will be deemed to have notice of and to have consented to this choice of forum provision. It is possible that a court of law could rule that the choice of forum provision contained in our restated certificate of incorporation is inapplicable or unenforceable if it is challenged in a proceeding or otherwise.

2rare-ex1010_646.htm

 

 

Exhibit 10.10

 

 

[***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED

 

AMENDMENT NO. 9 TO COLLABORATION AND LICENSE AGREEMENT

 

This Amendment No. 9 to the Collaboration and License Agreement (“Amendment”) is made and entered into by and between Kyowa Kirin Co., Ltd. (formerly, Kyowa Hakko Kirin Co., Ltd.), a company organized and existing under the laws of Japan, with an address at 1-9-2 Otemachi, Chiyoda-ku, Tokyo, 100-0004, Japan (“KKC”) and Ultragenyx Pharmaceutical Inc., a company organized and existing under the laws of the State of Delaware, with an address at 60 Leveroni Court, Novato, California 94949, USA (“UGNX”). 

 

RECITALS

 

	
 
	
A.
	
WHEREAS, KKC and UGNX entered into a Collaboration and License Agreement effective as of August 29, 2013, an Amendment No. 1 to Collaboration and License Agreement effective as of August 24, 2015, an Amendment No. 2 to Collaboration and License Agreement effective as of November 28, 2016, an Amendment No. 3 to Collaboration and License Agreement effective as of September 29, 2017, an Amendment No. 4 to Collaboration and License Agreement effective as of January 29, 2018, an Amendment No. 5 to Collaboration and License Agreement effective as of April 30, 2018, an Amendment No. 6 to Collaboration and License Agreement effective as of February 1, 2019, an Amendment No. 7 to Collaboration and License Agreement effective as of December 5, 2018, and an Amendment No. 8 to Collaboration and License Agreement effective as of July 4, 2019 (collectively, the “Collaboration Agreement”).

 

	
 
	
B.
	
WHEREAS, both Parties wish to further amend the Collaboration Agreement as set forth below.

 

	
 
	
C.
	
NOW, THEREFORE, in consideration of the mutual covenants and premises herein contained, the Parties agree as follows:

 

	
 
	
1.
	
This Amendment shall be effective as of December 23, 2019 (the “Amendment Effective Date”).

 

	
 
	
2.
	
Any capitalized terms that are not defined in this Amendment will have their respective meanings set forth in the Collaboration Agreement.

 

	
 
	
3.
	
Section 7.6 of the Collaboration Agreement is hereby deleted in its entirety and replaced with the following:

“7.6 Taxes.

 

 

 

 

	
 
	
7.6.1 
	
Tax Liabilities. Except as provided to the contrary in Section 7.6.3(e) or otherwise in this Agreement, each Party shall be solely responsible for any and all Taxes, including, but not limited to, direct Taxes, indirect Taxes, or Taxes withheld at the source, together with related interest and penalties, if any, imposed by any government tax authority based upon the facts, circumstances, and requirements of such Party in respect of amounts arising from this Agreement.  In the event a Party receives a deficiency notice or similar correspondence from a government tax authority, the Party whose facts and circumstances, structure, or tax position (other than in its capacity as a Withholding Party) resulted in the imposition of the Tax giving rise to the deficiency notice (the “Liable Party”) shall be responsible for payment of the deficiency regardless of whether it is the Party that receives the deficiency notice.  Any Party that receives a deficiency notice, a notice of audit or investigation or any similar proceeding or notice (a “Tax Notice”) shall use Commercially Reasonable Efforts to give notice to the Liable Party within ten (10) days of receiving such Tax Notice; provided, however, that failure to provide notice to the Liable Party shall not relieve the Liable Party of its obligations hereunder so long as the Liable Party is not materially prejudiced by the failure to provide such notice.  If there is a refund of all or any portion of any Tax paid or otherwise economically borne by the Liable Party, such refund shall be paid to the Liable Party.  Where a Party pays or otherwise economically bears a liability for which the other Party is responsible hereunder, the responsible Party shall indemnify such other Party with respect to such liability. 

	
 
	
7.6.2 
	
Tax Payments, Taxes Withheld at the Source, and Deficiencies. The Parties shall reasonably cooperate in completing and filing documents required under the provisions of any Applicable Laws in connection with the making of any required Tax payments or payments of Tax withheld at the source, or in connection with any claim to an exemption from, reduction of, or a refund or credit for any such payments to the extent available under Applicable Laws.  If a Party or any of its Affiliates is required by Applicable Laws to deduct or withhold any Taxes as a result of this Agreement (the “Withholding Party”), then the Withholding Party shall make such deduction or withholding and pay the full amount deducted or withheld to the relevant government tax authority in accordance with Applicable Laws.  In this event, the Withholding Party shall promptly furnish the Liable Party with reasonable evidence of such deduction or withholding and payment thereof to the relevant government tax authority in electronic or written form.  If it is determined that a Withholding Party was required by Applicable Laws to deduct or withhold any such Taxes as a result of this Agreement but the Withholding Party did not deduct or withhold such Taxes, the Withholding Party shall have the right to make such deduction or withholding from any future payments made under this Agreement, pay the full amount deducted or withheld to the government tax authority in accordance with Applicable Laws, and to take any other actions required to comply with Applicable Laws.  To the extent future payments under this Agreement are insufficient to satisfy payments of such Taxes within the time requirement of the government tax authority, then the Liable Party shall indemnify the Withholding Party in an amount required to fully satisfy such Tax payments, including any related penalty and interests, within the 

 

 

 

 

	
 
		
time requirement of the government tax authority.  Deficiency interest and penalties, if any, with respect to Tax payments including Tax withholding payments shall be borne by the Liable Party.

	
 
	
7.6.3 
	
Treatment of Royalties and Revenue Shares for Tax Purposes. 

(a) To the extent permitted by Applicable Laws, the Parties agree to treat for income Tax purposes the revenue shares payable pursuant to Section [***] and subsections [***], [***], [***], [***] and [***] of Section [***] as [***] within the meaning of Article 12 of the Income Tax Convention for the Avoidance of Double Taxation between [***] and [***] (“[***] Treaty”) as consideration for the use of, or the right to use, a patent or patents, a secret process, or information concerning industrial, commercial or scientific experience within the meaning of [***] Treaty and any equivalent income tax treaties that may apply to such payments.

(b) To the extent permitted by Applicable Laws, the Parties agree to treat for income Tax purposes the revenue shares payable pursuant to Section [***] as [***].

(c) To the extent permitted by Applicable Laws, the Parties agree to treat for income Tax purposes the revenue shares payable pursuant to Section [***]and subsections [***], [***], [***] and [***] of Section [***] as [***] within the meaning of Article 12 of the Income Tax Convention for the Avoidance of Double Taxation between [***] and [***] (“[***] Treaty”) as consideration for the use of, or the right to use, a patent or patents, a secret process, or information concerning industrial, commercial or scientific experience within the meaning of [***] Treaty and any equivalent income tax treaties that may apply to such payments. 

(d) For the avoidance of doubt, the Parties do not intend for this Agreement to [***] for U.S. income tax purposes between the Parties and/or their Affiliates in respect of the [***] in Section [***] and [***].  The Parties shall file all tax returns in a manner consistent with such tax treatment, except as may be required by Applicable Laws. 

(e) If the Internal Revenue Service (or a U.S. state or local tax authority) asserts that [***](such [***], a “[***]”), or [***] at any time, in respect of this Agreement or [***] in Section [***], the following costs relating to such audit or other controversy shall be borne by [***] and/or its affiliates: (i) any Taxes (including any applicable interest, additions to Tax or penalties) imposed by the Internal Revenue Service (or a U.S. state or local tax authority) directly relating solely to its assertion that [***] and (ii) any professional fees relating to the [***] of this Agreement or such [***], including, but in no way limited to, professional fees relating to the [***] and filing of tax returns. Notwithstanding the foregoing, and for the avoidance of doubt, any Taxes that would have been imposed in the absence of any such [***] shall not be governed by this paragraph 7.6.3(e) but 

 

 

 

 

shall be borne in accordance with Sections 7.6.1 and 7.6.2.  If the Internal Revenue Service (or a U.S. state or local tax authority) asserts that [***], in respect of the [***] in Section [***], KKC and/or its affiliates shall have the sole authority to conduct, and undertake the defense of, such tax audit or other tax controversy, including the settlement and resolution of any such tax audit or other tax controversy (and KKC and/or its affiliates shall bear any and all expenses related thereto), except to the extent any tax audit or tax controversy could reasonably be expected to adversely impact the other Party, in which case both Parties shall have joint authority to conduct, and undertake the defense of, such tax audit or tax controversy and each Party shall bear its own respective costs associated with such tax audit or tax controversy.

 (f) If the Internal Revenue Service were to assert that any arrangement pursuant to this Agreement were to [***], the parties agree that Kyowa Kirin, Inc. will be designated the “[***]” of such [***] within the meaning of Section [***] of the Internal Revenue Code of 1986, as amended (and [***] and provisions of state, local or non-U.S. law).  If an audit relates to a year prior to 2018, KKC shall act as the “[***]” with respect to such tax matters.

7.6.4.   Cooperation and Costs. The Parties will coordinate and cooperate fully with each other in exchanging information and providing such assistance as the other Party may reasonably request in connection with any Tax Notice, filings, investigation, audits, examinations or other inquiries, appeals, or litigation by a taxing authority relating to this Agreement.  Except as otherwise provided in Section 7.6.3(e), the Liable Party, if there is only one, shall have the sole authority to conduct, and undertake the defense of, any tax audits or other tax controversies, including the settlement and resolution of any tax audits or other tax controversies, except to the extent any tax audit or tax controversy adversely impacts the other Party or if both Parties are potentially Liable Parties, in which case both Parties shall have joint authority to conduct, and undertake the defense of, such tax audit or tax controversy and each Party shall bear its own respective costs associated with such tax audit or tax controversy.  Any other costs associated with any filings, investigations, audits, examinations or other inquiries, appeals or litigation, other than the Tax liability and the costs discussed in the preceding sentence, shall be borne by the Liable Party, except as otherwise provided in Section 7.6.3(e).”

 

	
 
	
4.
	
Except as expressly provided in this Amendment, all other terms, conditions and provisions of the Collaboration Agreement shall continue in full force and effect as provided therein.  

 

	
 
	
5.
	
This Amendment may be executed in identical duplicate copies exchanged by facsimile or e-mail (PDF form) transmission.  The Parties agree to execute two identical original copies of this Amendment after exchanging signed facsimile versions.  Each identical counterpart will be deemed an original, but all of which together will constitute one and the same instrument.

 

 

 

 

 

[Signatures on Following Page]

 

 

 

 

IN WITNESS WHEREOF, the Parties have executed this Amendment No. 9 to Collaboration and License Agreement to be effective as of the Amendment Effective Date. 

 

 

									
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
KYOWA KIRIN CO., LTD.
	
 
	
 
	
 
	
ULTRAGENYX PHARMACEUTICAL INC.

	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Yasuo Fujii
	
 
	
 
	
 
	
By:
	
 
	
/s/ Thomas Kassberg

	
Name:
	
 
	
 Yasuo Fujii
	
 
	
 
	
 
	
Name:
	
 
	
Thomas Kassberg

	
Title:
	
 
	
Director, 

Business Development Dept.
	
 
	
 
	
 
	
Title:
	
 
	
Chief Business Officer

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