Document:

exv10w2

Exhibit 10.2

SUPPORT AGREEMENT

     This SUPPORT AGREEMENT (this “Agreement”), is dated as of August 12, 2010, by and
between Emergent BioSolutions Inc., a Delaware corporation (“Parent”), and the undersigned
stockholder (“Stockholder”) of Trubion Pharmaceuticals, Inc., a Delaware corporation (the
“Company”).

W I T N E S S E T H:

     WHEREAS, Parent, 35406 LLC, a Delaware limited liability company and wholly owned direct
subsidiary of Parent (the “LLC”), 30333 Inc., a Delaware corporation and wholly owned
indirect subsidiary of Parent (“Merger Sub”), and the Company, have entered into an
Agreement and Plan of Merger dated as of August 12, 2010 (the “Merger Agreement”), pursuant
to which the Merger Sub will merge (the “Merger”) with and into the Company, with the
Company surviving the Merger as an indirect subsidiary of Parent, and then merging with and into
the LLC with the LLC being the surviving entity of the LLC Merger;

     WHEREAS, as a condition to Parent’s willingness to enter into and perform its obligations
under the Merger Agreement, Parent has required that Stockholder agree, and Stockholder desires to
agree (i) to vote, or cause to be voted, in person or by proxy all of the shares owned by
Stockholder and subject to this Agreement as set forth in Column C of Annex A (the “Subject
Shares”), in favor of (a) approval of the Merger and the other transactions contemplated by the
Merger Agreement and the other agreements related thereto (the “Related Agreements”), and
(b) any other matter that is required by applicable law or by any Governmental Entity to be
approved by stockholders of the Company to consummate the Merger and the other transactions
contemplated by the Merger Agreement and the Related Agreements, and against any Competing
Transaction; (ii) to grant Parent a proxy to vote the Subject Shares on behalf and in the name of
Stockholder; and (iii) to take the other actions, or to refrain from taking certain enumerated
actions, each as further described herein;

     WHEREAS, Stockholder desires to express his support for the Merger and the other transactions
contemplated by the Merger Agreement and the Related Agreements; and

     WHEREAS, Capitalized terms used herein and not otherwise defined herein shall have the meanings
ascribed to such terms in the Merger Agreement.

     NOW, THEREFORE, in consideration of the foregoing premises and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

     1. Agreement to Vote; Non-Solicit; Irrevocable Proxy.

     1.1. Agreement to Vote. Subject to Section 1.4 below, Stockholder hereby agrees that,
during the time this Agreement is in effect, at any meeting of the stockholders of the Company
(including, but not limited to, the special meeting of the Company’s stockholders to consider and
vote upon the adoption and approval of the Merger Agreement and the Related Agreements and the
transactions contemplated thereby (the “Special Meeting”)), however called, or any
adjournment or postponement thereof, and in response to any request for any written

 

 

consent of the stockholders of the Company, Stockholder shall be present (in person or by
proxy) and vote (or cause to be voted) all of the Subject Shares (a) in favor of (i) approval of
the Merger and the other transactions contemplated by the Merger Agreement and the Related
Agreements, and approval of any other matter that is required by applicable law or by any
Governmental Entity to be approved by the stockholders of the Company to consummate the Merger and
the other transactions contemplated by the Merger Agreement and the Related Agreements; and (b)
against (i) any other Competing Transaction, and (ii) any other action that could reasonably be
expected to (A) impede, interfere with, delay, postpone or attempt to discourage or have the effect
of discouraging the consummation of the Merger and the other transactions contemplated by the
Merger Agreement and the Related Agreements, (B) constitute or result in a breach of any of the
representations, warranties covenants, or other obligations or agreements of the Company under the
Merger Agreement that would reasonably be expected to have a material adverse effect on the Company
or (C) impair or adversely affect the ability of the Company to consummate the Merger and the other
transactions contemplated by the Merger Agreement and the Related Agreements.

     1.2. Non-Solicit. Stockholder hereby agrees that, during the time this Agreement is
in effect neither Stockholder nor any of Stockholder’s controlled affiliates or representatives
(other than any such affiliate or representative who is a director of the Company) shall (a)
solicit, initiate or intentionally encourage (including by way of providing information) the
submission of any Competing Transaction or (ii) participate in any discussions or negotiations
regarding, or take any other action to knowingly facilitate, induce or encourage the making of any
proposal that constitutes, or may reasonably be expected to lead to, any Competing Transaction, (b)
approve or recommend, or publicly propose to resolve to approve or recommend, a Competing
Transaction, (c) enter into any merger agreement, letter of intent, agreement in principle, share
purchase agreement, asset purchase agreement or share exchange agreement, option agreement or other
similar agreement relating to a Competing Transaction, (d) enter into any agreement requiring the
Stockholder to abandon, terminate or fail to consummate the Merger and the other transactions
contemplated by the Merger Agreement and the Related Agreements or (e) propose or agree to do any
of the foregoing.

     1.3. Irrevocable Proxy. Solely with respect to the matters described in Section 1.1,
and subject to Section 1.4 below, if Stockholder has not taken a Qualifying Action (as defined
below) on or prior to the fifth (5th) Business Day prior to the Special Meeting (including any
adjournments or postponements thereof) or any other meeting, date or event upon which stockholders
of the Company will be asked to vote with respect to the matters described in Section 1.1 (such
meeting, date or event, the “Voting Event”), Stockholder hereby irrevocably (to the fullest
extent permitted by law and subject to the termination of this Agreement as set forth in Section
1.4) appoints Parent as its proxy with full power of substitution (which proxy is irrevocable and
which appointment is coupled with an interest, including for purposes of all applicable provisions
of the Delaware General Corporation Law) to vote in its discretion all Subject Shares owned by
Stockholder beneficially and of record solely on the matters described in Section 1.1 effective
from and after the third (3rd) Business Day prior to the Voting Event and until the date of the
applicable Voting Event. Stockholder agrees to execute any further agreement or form reasonably
necessary or appropriate to confirm and effectuate the grant of the proxy contained herein.
“Qualifying Action” means either (a) the delivery by Stockholder or the Company to Parent
of a copy of such Stockholder’s duly executed and valid proxy (and any

2

 

amendment of such proxy) with respect to the Special Meeting or other Voting Event, provided
the votes reflected in such proxy or amendment thereof are consistent with Stockholder’s voting
obligations under this Agreement with respect to the matter(s) in question or (b) the delivery by
Stockholder to Parent of a written certificate signed by Stockholder certifying that Stockholder
shall attend the Special Meeting or other Voting Event in person (if a meeting of stockholders) and
vote the Subject Shares in accordance with Section 1.1 hereof, provided that in the event
that a Qualifying Action is subsequently rescinded, revoked or modified in any manner inconsistent
with the requirements of Section 1.1, or if Stockholder does not attend and vote as required
hereunder at any Voting Event, Stockholder shall be deemed to have affirmed as of the time of the
Voting Event the proxy with respect to the Subject Shares granted in this Section (notwithstanding
any other action taken since the date hereof) and Parent (or its designee) shall be entitled to the
proxy and vote the Subject Shares in its discretion at or in connection with the applicable Voting
Event.

     1.4. Termination of Obligations and Covenants of Stockholder and Proxy. The
obligations and covenants of the Stockholder pursuant to this agreement and the proxy granted to
Parent herein with respect to the Subject Shares automatically shall terminate and be of no further
force or effect from and after any termination of the Merger Agreement pursuant to the terms
thereof.

     2. Representations and Warranties of Stockholders. Stockholder hereby represents and
warrants to Parent as follows:

     2.1. Power; Due Authorization; Binding Agreement. Stockholder has full power and
authority to execute and deliver this Agreement, to perform his obligations hereunder and to
consummate the transactions contemplated hereby. This Agreement has been duly and validly executed
and delivered by Stockholder and constitutes a valid and binding agreement of Stockholder,
enforceable against Stockholder in accordance with its terms, except that enforceability may be
subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium or other
similar laws affecting or relating to the enforcement of creditors rights generally and to general
principles of equity.

     2.2. Ownership of Shares. All Subject Shares (a) are, and will be as of the date of
the Stockholders Meeting or any other applicable Voting Event, held free and clear of all liens and
encumbrances, and (b) will not be subject to any proxies (other than pursuant to this Agreement) as
of the date of the Special Meeting or any other applicable Voting Event. As of the date hereof,
Stockholder has, and as of the date of the Special Meeting or other Voting Event will have (except
as otherwise permitted or required by this Agreement), sole voting power and sole dispositive power
with respect to all of the Subject Shares.

     2.3. No Conflicts. The execution and delivery of this Agreement by Stockholder does
not, and the performance of the terms of this Agreement by Stockholder will not, (a) require
Stockholder to obtain the consent or approval of, or make any filing with or notification to, any
Governmental Entity, (b) require the consent or approval of any other Person pursuant to any
agreement, obligation or instrument binding on Stockholder or his properties and assets, (c)
conflict with or violate any organizational document or any law applicable to Stockholder or
pursuant to which any of his properties or assets are bound or (d) violate any other agreement to

3

 

which Stockholder or any of his affiliates is a party including any voting agreement,
stockholders agreement, irrevocable proxy or voting trust, except for any consent, approval, filing
or notification which has been obtained as of the date hereof or the failure of which to obtain,
make or give would not, or any conflict or violation which would not, impair in any material
respect Stockholder’s ability to perform his obligations under this Agreement or in any event
impair Stockholder’s ability to perform his obligations under Section 1.1 hereof. Except for this
Agreement, the Subject Shares are not, with respect to the voting or transfer thereof, subject to
any other agreement or third party rights, including any voting agreement, stockholders agreement,
irrevocable proxy or voting trust.

     2.4. Acknowledgment. Stockholder understands and acknowledges that Parent entered
into the Merger Agreement in reliance upon such Stockholder’s execution, delivery and performance
of this Agreement.

     3. Certain Covenants of Stockholder. Stockholder hereby covenants and agrees with
Parent as follows:

     3.1. Restriction on Transfer, Proxies and Non-Interference. Stockholder hereby
agrees, while this Agreement is in effect, not to (a) sell, transfer, pledge, encumber, assign or
otherwise dispose of, or enter into any contract, option or other arrangement or understanding
other than this Agreement with respect to the sale, transfer, pledge, encumbrance, assignment or
other disposition of, or limitation on the voting rights of, any of the Subject Shares, (b) grant
any proxies or powers of attorney, deposit any Subject Shares into a voting trust or enter into a
voting agreement with respect to any Subject Shares (or attempt or purport to revoke or supersede
the proxy granted to Parent hereunder), (c) take any action that reasonably could cause any
representation or warranty of Stockholder contained herein to become untrue or incorrect or have
the effect of preventing or disabling Stockholder from performing Stockholder’s covenants or other
obligations under this Agreement or (d) commit or agree to take any of the foregoing actions. Any
transfer of any Subject Shares in violation of this provision shall be null and void. If any
involuntary transfer of any of the Subject Shares shall occur (including a sale by Stockholder’s
trustee in any bankruptcy, or a sale to a purchaser at any creditor’s or court sale), the
transferee (which term, as used herein, shall include any and all transferees and subsequent
transferees of the initial transferee) shall take and hold such Subject Shares subject to all of
the restrictions, liabilities and rights under this Agreement, which shall continue in full force
and effect until the earlier of (i) the date on which such restrictions, liabilities and rights
terminate pursuant to this Agreement and (ii) a valid termination of this Agreement.

     3.2. No Limitations on Actions. Stockholder signs this Agreement solely in his
capacity as the record and/or beneficial owner, as applicable, of the Subject Shares; nothing
herein shall limit or affect the Company’s rights available at law or in equity in connection with
the Merger Agreement.

     3.3. Further Assurances. From time to time, at the request of Parent and without
further consideration, Stockholder shall execute and deliver such additional documents and
instruments and take all such further action as may be reasonably requested by Parent to effectuate
or evidence the purpose and intent of this Agreement.

4

 

     4. Miscellaneous.

     4.1. Entire Agreement; Assignment. This Agreement constitutes the entire agreement
among the parties with respect to the subject matter hereof and supersedes all other prior
agreements and understandings, both written and oral, among the parties with respect to the subject
matter hereof. Nothing in this Agreement, express or implied, is intended to or shall confer upon
any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this
Agreement. This Agreement shall not be assigned by operation of law or otherwise and shall be
binding upon and inure solely to the benefit of each party hereto.

     4.2. Amendments. This Agreement may not be modified, amended, altered or
supplemented, except upon the execution and delivery of a written agreement executed by each of the
parties hereto.

     4.3. Notices. All notices, requests, claims, demands and other communications
hereunder shall be in writing and shall be given (and shall be deemed to have been duly received if
so given) by hand delivery, by facsimile transmission or by any courier service, such as Federal
Express, providing proof of delivery. All communications hereunder shall be delivered to the
respective parties at the following addresses:

If to Stockholder to:

See Annex A

with a copy (which shall not constitute notice) to:

Fenwick & West LLP (Seattle)

1191 Second Avenue, 10th Floor

Seattle, WA 98101

Attention:     Alan C. Smith, Esq.

Facsimile:     206.389.4511

If to Parent to:

Emergent BioSolutions Inc.

2273 Research Boulevard, Suite 400

Rockville, MD 20850

Attention:     General Counsel

Facsimile:     301.795.1899

with a copy (which shall not constitute notice) to:

Bingham McCutchen LLP

2020 K Street, NW

Washington, DC 20006

Attention:     Carl A. Valenstein, Esq.

Facsimile:     202.373.6448

5

 

or to such other address as the person to whom notice is given may have previously furnished to the
others in writing in the manner set forth above.

     4.4. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF
THAT WOULD CAUSE THE APPLICATION OF LAWS OF ANY JURISDICTION OTHER THAN THOSE OF THE STATE OF
DELAWARE.

     4.5. Consent to Jurisdiction; Venue. Each of the Litigation Parties irrevocably
submits to the exclusive jurisdiction of the state courts of Delaware and to the jurisdiction of
the United States District Court for the District of Delaware for the purpose of any Action arising
out of or relating to this Agreement, and each of the Litigation Parties irrevocably agrees that
all claims in respect to such Action may be heard and determined exclusively in any Delaware state
or federal court sitting in the State of Delaware. Each of the Litigation Parties agrees that a
final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit
on the judgment or in any other manner provided by Law.

     4.6. Waiver of Trial by Jury. EACH LITIGATION PARTY ACKNOWLEDGES AND AGREES THAT ANY
CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES, AND THEREFORE EACH SUCH LITIGATION PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY
RIGHT SUCH LITIGATION PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT. EACH LITIGATION PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER LITIGATION PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
LITIGATION PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B)
EACH SUCH LITIGATION PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH
SUCH LITIGATION PARTY MAKES THIS WAIVER VOLUNTARILY AND (D) EACH SUCH LITIGATION PARTY HAS BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS
SECTION 4.6.

     4.7. Remedies. The parties agree that irreparable damage would occur in the event
that any provisions of this Agreement were not performed in accordance with their specific terms or
were otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to an
injunction or injunctions to prevent breaches or threatened 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 may be entitled under any applicable law or in equity.

     4.8. Counterparts. This Agreement may be executed by facsimile or PDF signature and
in two (2) or more counterparts, each of which shall be deemed to be an original, but all of which
when taken together shall constitute one and the same Agreement.

6

 

     4.9. Severability. Whenever possible, each provision or portion of any provision of
this Agreement will be interpreted in such manner as to be effective and valid under applicable law
but if any provision or portion of any provision of this Agreement is held to be invalid, illegal
or unenforceable in any respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality or unenforceability will not affect any other provision or portion of any
provision in such jurisdiction, and this Agreement will be reformed, construed and enforced in such
jurisdiction as if such invalid, illegal or unenforceable provision or portion of any provision had
never been contained herein.

     4.10. Interpretation. When a reference is made in this Agreement to a Section, such
reference shall be to a Section of this Agreement unless otherwise indicated. 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. Whenever the words “include,” “includes,” or
“including” are used in this Agreement, they shall be deemed to be followed by the words “without
limitation.” Unless the context otherwise requires, words describing the singular number shall
include the plural and vice versa, words denoting any gender shall include all genders and words
denoting natural Persons shall include corporations, partnerships and other Persons and vice versa.

     4.9 Savings Clause. Notwithstanding anything to the contrary contained herein, in the
event that the number of Subject Shares, when aggregated with the number of shares subject to other
support agreements, by and between Parent and other holders of the voting stock of the Company
(collectively, the “Other Support Agreements”) would exceed 35% of the voting power of the
then-outstanding shares of capital stock of the Company, this Agreement shall be deemed to apply
only to the maximum number of shares subject hereto as would not result in the total shares with
voting power subject to this Agreement and the Other Support Agreements exceeding such 35% maximum
amount, with any resulting adjustment in the amount of shares subject to this Agreement and the
Other Support Agreements to be allocated pro rata among such agreements based on the relative
number of shares subject to such agreements.

[Signature Page Follows]

7

 

     IN WITNESS WHEREOF, the parties hereto have caused this Support Agreement to be duly executed
as of the date first above written.

	 	 	 

	“Parent”
	 	“Stockholder”

	 	 	 	 	 	 	 	 	 

	Emergent BioSolutions Inc.	 	 	 	ARCH Venture Fund V, L.P.
	 
	 	 	 	 	 	 	 	 
	By:

	 	 

	 	 
	 	By:
	 	ARCH Venture Partners V, L.P.

Its: General Partner
	 
	 

	 	Name:
	 	 	 	By:
	 	ARCH Venture Partners V, L.L.C.
	 

	 	Its:
	 	 	 	 	 	Its: General Partner

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Its:       Managing Director 	 
	 
	 	ARCH V Entrepreneurs Fund V, L.P.

By:  ARCH Venture Partners V, L.P.

        Its: General Partner
 	 
	 
	 	By:  ARCH Venture Partners V, L.L.C. 

        Its: General Partner
 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Its:       Managing Director 	 
	 
	 	Healthcare Focus Fund, L.P.

By:  ARCH Venture Partners V, L.P.

        Its: General Partner
 	 
	 
	 	By:  ARCH Venture Partners V, L.L.C. 

        Its: General Partner
 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Its:       Managing Director 	 

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Support Agreement to be duly executed
as of the date first above written.

	 	 	 

	“Parent”
	 	“Stockholder”

	 	 	 	 	 	 	 	 	 

	Emergent BioSolutions Inc.	 	 	 	Frazier Affiliates IV, L.P.
	By:

	 	 	 	 	 	By:
	 	FHM IV, LP

	 

	 	 

	 	 
	 	 	 	Its general partner
	 
	 

	 	Name:
	 	 	 	By:
	 	FHM IV, LLC
	 

	 	Its:
	 	 	 	 	 	Its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Tom Hodge 	 
	 	 	Its: 	 
	 
	 	Frazier Healthcare III, L.P.

By:  FHM III, LLC

        Its
 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Tom Hodge 	 
	 	 	Its: 	 
	 
	 	Frazier Affiliates III, L.P.

By:  FHM III, LLC

        Its  

 	 
	 	By:  	
 	 
	 	 	Name:  	Tom Hodge 	 
	 	 	Its: 	 

 

 

	 	 	 	 	 

     IN WITNESS WHEREOF, the parties hereto have caused this Support Agreement to be duly executed
as of the date first above written.

	 	 	 

	“Parent”
	 	“Stockholder”

	 	 	 	 	 	 	 	 	 

	Emergent BioSolutions Inc.	 	 	 	Venrock Partners, L.P.
	By:  

	 	 	 	 	 	By:
	 	Venrock Partners Management LLC,

Its: General Partner 
	 

	 	 

	 	 	 	 	 	
	 

	 	Name:
	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 	 	 

	 	 	 	 	 
	 	Venrock Associates IV, L.P.

By:  Venrock Management IV, LLC,

        Its: General Partner
 	 
	 	 	 
	 	Venrock Entrepreneurs Fund IV, L.P.
	 
	 	 	 
	 	

By:  VEF Management IV, LLC,

        Its: General Partner
 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	David L. Stepp 	 
	 	 	Its:  Authorized Signatory 	 

 

 

	 	 	 	 	 

     IN WITNESS WHEREOF, the parties hereto have caused this Support Agreement to be duly executed
as of the date first above written.

	 	 	 

	“Parent”
	 	“Stockholder”

	 	 	 	 	 	 	 	 	 	 	 

	Emergent BioSolutions Inc.	 	 	 	Prospect Venture Partners II, L.P.	 	 
	 
	 
	By:

	 	 

	 	 
	 	By:
	 	Prospect Management Co. II, LLC
	 	 
	 

	 	Name:	 	 	 	 	 	General Partner	 	 
	 

	 	Its:	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 
	 	 	 	 

Name: David Markland
	 	 
	 

	 	 	 	 	 	 	 	Its: Attorney-In-Fact	 	 

	 	 	 	 	 
	 	Prospect Associates II, L.P.

By:  Prospect Management Co. II, LLC

        General Partner
 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	David Markland 	 
	 	 	Its: Attorney-In-Fact 	 
	 

 

 

Annex A

	 	 	 	 	 
	 	 	 	 	C
	A	 	B	 	Shares subject to
	Stockholder	 	Shares Owned	 	this Agreement
	ARCH Venture Fund V, L.P.
	 	2,209,741
	 	1,900,377
	ARCH V Entrepreneurs Fund, L.P.
	 	14,503
	 	12,473
	Healthcare Focus Fund, L.P.
	 	132,802
	 	114,210
	 	 	 	 	 
	TOTAL
	 	2,357,046
	 	2,027,060
	 	 	 	 	 

Notice to:

ARCH Venture Partners

8725 W. Higgins Road, Suite 290

Chicago, IL 60631

Attn: Mark McDonnell

Facsimile: (773) 380-6606

 

 

Annex A

	 	 	 	 	 
	 	 	 	 	C
	A	 	B	 	Shares subject to
	Stockholder	 	Shares Owned	 	this Agreement
	Frazier Healthcare IV, LP
	 	1,632,687
	 	1,404,111
	Frazier Affiliates IV, LP
	 	8,291
	 	7,130
	Frazier Healthcare III, LP
	 	592,505
	 	509,554
	Frazier Affiliates III, LP
	 	4,457
	 	3,833
	 	 	 	 	 
	TOTAL
	 	2,237,940
	 	1,924,628
	 	 	 	 	 

Notice to:

Frazier Healthcare

601 Union Street, Suite 3300

Two Union Square

Seattle, WA 98101

Attn: Patrick Heron

Facsimile: (206) 621-1848

 

 

Annex A

	 	 	 	 	 
	 	 	 	 	C
	A	 	B	 	Shares subject to
	Stockholder	 	Shares Owned	 	this Agreement
	Venrock Associates IV, L.P.
	 	1,512,111
	 	1,300,415
	Venrock Partners, L.P.
	 	308,367
	 	265,196
	Venrock Entrepreneurs Fund IV, L.P.
	 	37,154
	 	31,953
	 	 	 	 	 
	TOTAL
	 	1,857,632
	 	1,597,564
	 	 	 	 	 

Notice to:

Venrock

3340 Hillview Avenue

Palo Alto, CA 94304

Attn: David Stepp

Facsimile: (650) 561-9180

 

 

Annex A

	 	 	 	 	 
	 	 	 	 	C
	A	 	B	 	Shares subject to
	Stockholder	 	Shares Owned	 	this Agreement
	Prospect Venture Partners II, LP
	 	1,829,765
	 	1,573,598
	Prospect Associates II, LP
	 	27,866
	 	23,965
	 	 	 	 	 
	TOTAL
	 	1,857,631
	 	1,597,563
	 	 	 	 	 

Notice to:

Prospect Venture Partners

435 Tasso Street, Suite 200

Palo Alto, CA 94301

Attn: Dave Markland

Facsimile: (650) 324-8838exv10w3

Exhibit 10.3

August 12, 2010

Emergent BioSolutions Inc.

2273 Research Boulevard

Suite 400

Rockville, MD

     Re: Emergent BioSolutions Inc. — Lock-Up Agreement (this “Letter Agreement”)

Ladies and Gentlemen:

     The undersigned understands that Emergent BioSolutions Inc., a Delaware corporation
(“Parent”), 35406 LLC, a Delaware limited liability company and wholly owned direct
subsidiary of Parent (the “LLC”), 30333 Inc., a Delaware corporation and wholly owned
indirect subsidiary of Parent (“Merger Sub”), and Trubion Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), have entered into an Agreement and Plan of Merger dated as of
12, 2010 (the “Merger Agreement”), pursuant to which the Merger Sub will merge (the
“Merger”) with and into the Company, with the Company surviving the Merger as an indirect
subsidiary of Parent, and then merging with and into the LLC with the LLC being the surviving
entity of the LLC Merger. Capitalized terms used and not otherwise defined herein shall have the
meanings ascribed to such terms in the Merger Agreement. In connection with the Merger, Parent will
issue to the security holders of the Company, including the undersigned, the Stock Merger
Consideration.

     To induce Parent to consummate the Merger and to issue the Stock Merger Consideration, the
undersigned hereby agrees that, without the prior written consent of Parent, it will not for a
period of ninety (90) days from the Effective Time (the “Lock-Up Period”) (1) offer,
pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase,
or otherwise transfer or dispose of, directly or indirectly, the Stock Merger Consideration or any
securities convertible into or exercisable or exchangeable for the Stock Merger Consideration or
(2) enter into any swap or other agreement that transfers, in whole or in part, any of the economic
consequences of ownership of the Stock Merger Consideration, whether any such transaction described
in clause (1) or (2) above is to be settled by delivery of the Stock Merger Consideration, such
other securities, in cash or otherwise. Following the expiration of the Lock-Up Period, the
undersigned agrees that the foregoing restrictions will continue to apply to the Stock Merger
Consideration except that (a) for a period of ninety (90) days after the expiration of the Lock-Up
Period, the undersigned may take any such action referred to in clause (1) or (2) above in respect
of up to twenty-five percent (25%) of the Stock Merger Consideration received by the undersigned at
the Effective Time, (b) for a period of one hundred eighty (180) days after the expiration of the
Lock-Up Period, the undersigned may take any such action referred to in clause (1) or (2) above in
respect of up to fifty percent (50%) of the Stock Merger Consideration received by the undersigned
at the Effective Time, (c) for a period of two-hundred seventy (270) days after the expiration of
the Lock-Up Period, the undersigned may take any such action referred to in clause (1) or (2) above
in respect of up to seventy-five percent (75%) of the Stock Merger Consideration received by the
undersigned at the Effective Time and (d) after a period of three hundred sixty (360) days after
the expiration of the Lock-Up Period, the restrictions imposed by this Letter Agreement shall no
longer apply. Notwithstanding the foregoing, (A) if a Parent Acceleration Event occurs prior to
the date that is one hundred eight (180) days after the Effective Time (such date, the “Six Month
Anniversary”), the restrictions set forth in clauses (1) and (2) above will continue to apply to
the Stock Merger Consideration

 

 

except that (y) for a period of one
hundred eighty (180) days after the Effective Time, the undersigned may take any such action
referred to in clauses (1) and (2) above in respect of up to fifty percent (50%) of the Stock
Merger Consideration received by the undersigned at the Effective Time and (z) after the Six Month
Anniversary, the restrictions imposed by this Letter Agreement shall no longer apply, and (B) if a
Parent Acceleration Event occurs after the Six Month Anniversary, the restrictions imposed by this
Letter Agreement shall lapse immediately upon the occurrence of such Parent Acceleration Event.
“Parent Acceleration Event” shall be deemed to have occurred if, at any time during the
applicable period, both (1) the closing sale price per share for shares of Parent Common Stock (as
defined in the Merger Agreement) on the New York Stock Exchange for any 20 trading days (which need
not be consecutive) during a consecutive 30 calendar day period shall exceed 120% of the Parent
Average Stock Price (as defined in the Merger Agreement) and (2) Parent shall issue any shares of
Parent Common Stock (as defined in the Merger Agreement) in connection with any financing
transaction, including any private placement or public offering.

     The restrictions imposed by this Letter Agreement shall not apply to the transfer or
disposition of the Stock Merger Consideration (1) as a bona fide gift, (2) to any trust for the
direct or indirect benefit of the undersigned or the immediate family of the undersigned in a
transaction not involving a disposition for value, (3) to any corporation, partnership, limited
liability company or other entity all of the beneficial ownership interests of which are held by
the undersigned or the immediate family of the undersigned in a transaction not involving a
disposition for value, (4) by will, other testamentary document or intestate succession to the
legal representative, heir, beneficiary or a member of the immediate family of the undersigned, (5)
as a distribution to partners, members or stockholders of the undersigned in a transaction not
involving a disposition for value or (6) to any affiliate of the undersigned or any investment fund
or other entity controlled or managed by the undersigned in a transaction not involving a
disposition for value; provided that, in each case, the transferee, distributee or donee agrees in
writing to be bound by the terms of this Letter Agreement to the same extent as if a party hereto.
For purposes of this Letter Agreement, “immediate family” shall mean any relationship by blood,
marriage or adoption, not more remote than first cousin. Additionally, any discretionary waiver or
termination of the restrictions set forth in this Letter Agreement by Parent shall apply pro rata
to all Company Stockholders subject to substantially similar letter agreements entered into in
connection with the Merger, based on the number of shares subject to such agreements.

     In furtherance of the foregoing, the Parent, and any duly appointed transfer agent for the
registration or transfer of the securities described herein, are hereby authorized to decline to
make any transfer of securities if such transfer would constitute a violation or breach of this
Letter Agreement.

     The undersigned hereby represents and warrants that the undersigned has full power and
authority to enter into this Letter Agreement. All authority herein conferred or agreed to be
conferred and any obligations of the undersigned shall be binding upon the successors, assigns,
heirs or personal representatives of the undersigned.

     The undersigned understands that the Parent is relying upon this Letter Agreement in entering
into and consummating the Merger. The undersigned further understands that this Letter Agreement is
irrevocable and shall be binding upon the undersigned’s heirs, legal representatives, successors
and assigns.

 

 

This Letter Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware, without regard to the conflict of laws principles thereof.

	 	 	 	 	 
	 	Very truly yours,

ARCH Venture Fund V, L.P.

 	 
	 	By:  	ARCH Venture Partners V, L.P.
 	 
	 	 	Its: General Partner 	 
	 
	 	By:  	                ARCH Venture Partners V, L.L.C.
 	 
	 	 	Its: General Partner 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:

	 
	 	 	Its: Managing Director 	 
	 
	 	ARCH V Entrepreneurs Fund V, L.P.

 	 
	 	By:  	ARCH Venture Partners V, L.P.
 	 
	 	 	Its: General Partner 	 
	 
	 	By:  	                ARCH Venture Partners V, L.L.C.
 	 
	 	 	Its: General Partner 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Its: Managing Director 	 
	 
	 	Healthcare Focus Fund, L.P.

 	 
	 	By:  	ARCH Venture Partners V, L.P.
 	 
	 	 	Its: General Partner 	 
	 
	 	By:  	 ARCH Venture Partners V, L.L.C.

	 	 	

Its: General Partner 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Its:       Managing Director 	 
	 

[Signature Page to Look-Up Letter]

 

 

This Letter Agreement shall be governed by and
construed in accordance with the laws of the
State of Delaware, without regard to the conflict
of laws principles thereof.

	 	 	 	 	 
	 	Very truly yours,

Frazier Healthcare IV, L.P.

 	 
	 	By:  	FHM IV, LP
 	 
	 	 	Its general partner 	 
	 	By:  	                FHM IV, LLC
 	 
	 	 	Its general partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Tom Hodge  	 
	 	 	Its 	 
	 
	 	Frazier Affiliates IV, L.P.

 	 
	 	By:  	FHM IV, LP
 	 
	 	 	Its general partner 	 
	 	By:  	                FHM IV, LLC
 	 
	 	 	Its general partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	Tom Hodge 	 
	 	 	Its: 	 
	 
	 	Frazier Healthcare III, L.P.

 	 
	 	By:  	FHM III, LLC
 	 
	 	 	Its: 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	

 	 
	 	 	Name:  	Tom Hodge 	 
	 	 	Its: 	 
	 
	 	Frazier Affiliates III, L.P.

 	 
	 	By:  	FHM III, LLC
 	 
	 	 	Its 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	

 	 
	 	 	Name:  	Tom Hodge 	 
	 	 	Its: 	 
	 

[Signature Page to Lock-Up Letter]

 

 

This Letter Agreement shall be governed by and
construed in accordance with the laws of the State
of Delaware, without regard to the conflict of
laws principles thereof.

	 	 	 	 	 
	 	Very truly yours,

Venrock Partners, L.P.

 	 
	 	By:  	Venrock Partners Management LLC,
 	 
	 	 	Its: General Partner 	 
	 	 	 	 
	 
	 	Venrock Associates IV, L.P.

 	 
	 	By:  	Venrock Management IV, LLC,
 	 
	 	 	Its: General Partner 	 
	 	 	 	 
	 
	 	Venrock Entrepreneurs Fund IV, L.P.

 	 
	 	By:  	VEF Management IV, LLC,
 	 
	 	 	Its: General Partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	David L. Stepp 	 
	 	 	Its:       Authorized Signatory 	 
	 

[Signature Page to Lock-Up Letter]

 

 

This Letter Agreement shall be governed by and
construed in accordance with the laws of the State
of Delaware, without regard to the conflict of
laws principles thereof.

	 	 	 	 	 
	 	Very truly yours,

Prospect Venture Partners II, L.P.

 	 
	 	By:  	Prospect Management Co. II, LLC
General Partner
 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	David Markland 	 
	 	 	Its:       Attorney-In-Fact 	 
	 
	 	Prospect Associates II, L.P.

 	 
	 	By:  	Prospect Management Co. II, LLC
General Partner
 	 
	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	David Markland 	 
	 	 	Its:       Attorney-In-Fact 	 
	 

[Signature Page to Lock-Up Letter]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]