Document:

IDRA_Ex414

		

			Exhibit 4.14

		

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

		
			The following description sets forth certain material terms and provisions of Idera Pharmaceuticals, Inc.’s (“Idera,” “we,” “us,” and “our”) securities that are registered under Section 12 of the Securities Exchange Act of 1934, as amended.
		

		
			The following description is a summary and does not purport to be complete. It is subject to, and qualified in its entirety by reference to, Idera’s Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”) and Idera’s Amended and Restated Bylaws (the “Bylaws”), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.14 is a part.  The terms of these securities also may be affected by the Delaware General Corporation Law.
		

		
			Unless otherwise indicated, any share and per share amounts included in the description of our securities, reflect, as applicable, the occurrence of a 1-for-8 reverse split of our common stock that occurred on June 29, 2006 and a 1-for-8 reverse split of our common stock that occurred on July 27, 2018.
		

		
			 
		

		
			Description of Common Stock
		

		
			Voting
		

		
			Each outstanding share of common stock, par value $0.001 per share, is entitled to one vote per share on all matters submitted to a vote of our stockholders, except as set forth in the Certificate of Incorporation. Holders of common stock do not have cumulative voting rights. 
		

		
			Dividends; Liquidation and Dissolution
		

		
			Subject to the preferences that may be applicable to any then outstanding shares of preferred stock, holders of common stock are entitled to receive ratably on a per share basis such dividends and other distributions in cash, stock or property of Idera as may be declared by our Board of Directors (the “Board”) from time to time out of the legally available assets or funds of Idera. Upon our voluntary or involuntary liquidation, dissolution or winding up, holders of common stock are entitled to receive ratably all assets of Idera available for distribution to its stockholders after payment of any amounts due to creditors and any amounts due to the holders of our preferred stock.
		

		
			Other Rights and Restrictions
		

		
			Holders of our common stock have no preemptive rights and no right to convert their common stock into any other securities. There are no redemption or sinking fund provisions applicable to our common stock. The Certificate of Incorporation and Bylaws do not restrict the ability of holders of common stock to transfer their shares of common stock. Our Board may authorize the issuance of preferred stock with voting, conversion, dividend, liquidation and other rights that may adversely affect the rights of the holder of our common stock.
		

		
			Put Right
		

		
			Pursuant to the terms of that certain Unit Purchase Agreement, dated May 5, 1998 (the “UPA”) we issued and sold a total of 149,960 shares of common stock (the “Put Shares”) at a price of $128.00 per share. Under the UPA, the initial purchasers of the Put Shares (the “Put Holders”) have the right to require us to repurchase the put shares (the “Put Right”). In order for the Put Right to be exercised by any Put 

		 

		

			 

		

Holder all of the following must occur: (1) we liquidate, dissolve or wind up our affairs pursuant to applicable bankruptcy law, whether voluntarily or involuntarily; (2) all of our indebtedness and obligations, including without limitation the indebtedness under our outstanding notes, has been paid in full; and (3) all rights of the holders of any series or class of capital stick raking prior and senior to the common stock with respect to liquidation have been satisfied in full. We may terminate the Put Right upon written notice to the Put Holders if the closing sales price of our common stock exceeds $256.00 per share for the 20 consecutive trading days prior to the date of notice of termination. Because the Put Right is not transferable, in the event that a Put Holder has transferred Put Shares since May 5, 1998, the Put Right with respect to those Put Shares has terminated. As a consequence of the Put Right, in the event we are liquidated, holders of shares of common stock that do not have a Put Right with respect to such shares may receive smaller distributions per share upon our liquidation than if there was no Put Right outstanding. As of the date of the Annual Report on Form 10-K of which this Exhibit 4.14 is a part, we had repurchased or received documentation of the transfer of 49,993 Put Shares and 4,472 of the Put Shares continued to be held in the name of the Put Holders. We cannot determine at this time what portion of the Put Rights of the remaining 95,494 Put Shares have terminated.
		

		
			Certain Anti-Takeover Provisions of Our Certificate Incorporation and Bylaws 
		

		
			The following is a summary of certain provisions of our Certificate of Incorporation and Bylaws that may have the effect of delaying, deterring or preventing hostile takeovers or changes in control or management of Idera. Such provisions could deprive our stockholders of opportunities to realize a premium on their stock. At the same time, these provisions may have the effect of inducing any persons seeking to acquire or control us to negotiate terms acceptable to our Board. 
		

		
			Undesignated Preferred Stock
		

		
			Our Certificate of Incorporation authorizes our Board to issue shares of preferred stock and set the voting powers, designations, preferences, and other rights related to that preferred stock without stockholder approval. Any such designation and issuance of shares of preferred stock could delay, defer or prevent any attempt to acquire or control us. 
		

		
			Staggered Board
		

		
			Our Certificate of Incorporation and Bylaws provide for the division of our Board into three classes as nearly equal in size as possible with staggered three-year terms. The classification of the Board could have the effect of making it more difficult for a third party to acquire, or of discouraging a third party from acquiring, control of us. Our Certificate of Incorporation and Bylaws require the affirmative vote of the holders of at least 75% of the shares of our capital stock issued and outstanding and entitled to vote to amend or repeal this provision. 
		

		
			Vacancies on the Board of Directors; Removal of Directors
		

		
			Our Certificate of Incorporation and our Bylaws provide that, subject to any rights of holders of our preferred stock, any vacancies in our Board for any reason will be filled only by a majority of our directors remaining in office, and directors so elected will hold office until the next election of directors. The inability of our stockholders to fill vacancies on the Board may make it more difficult to change the composition of our Board. Additionally, our Certificate of Incorporation and Bylaws provide that a director may be removed from office by our stockholders only for cause and by the affirmative vote of at least two-thirds of our outstanding voting stock. Our Certificate of Incorporation and Bylaws require the affirmative 

		 

		

			 

		

vote of the holders of at least 75% of the shares of our capital stock issued and outstanding and entitled to vote to amend or repeal these provisions.
		

		
			Cumulative Voting
		

		
			Our Certificate of Incorporation and Bylaws do not provide for cumulative voting. Accordingly, the holders of a majority of the shares of common stock entitled to vote in any election of directors may elect all of the directors standing for election. As a result, subject to the voting rights, of which there currently are none, of any outstanding preferred stock, persons who hold more than 50% of the outstanding common stock entitled to elect members of our Board can elect all of the directors who are up for election in a particular year.
		

		
			Business Combinations
		

		
			We are subject to Section 203 of the Delaware General Corporation Law. Subject to certain exceptions, Section 203 prevents a publicly-held Delaware corporation from engaging in a “business combination” with any “interested stockholder” for three years following the date that such person became an interested stockholder, unless either the interested stockholder attained such status with the approval of our Board, the business combination is approved by our Board and stockholders in a prescribed manner or the interested stockholder acquired at least 85% of our outstanding voting stock in the transaction in which such person became an interested stockholder. A “business combination” includes, among other things, a merger or consolidation involving us and the “interested stockholder” and the sale of more than 10% of our assets. In general, an “interested stockholder” is any entity or person beneficially owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.
		

		
			No Stockholder Action by Written Consent; Special Meeting of Stockholders
		

		
			Our Certificate of Incorporation and our Bylaws provide do not provide for action by written consent, which may require our stockholders to wait for a regularly scheduled annual meeting to change the composition of our Board. Our Certificate of Incorporation and our Bylaws also provide that special meetings of our stockholders may be called only by a majority of the Board or by our chief executive officer or, if the office the chief executive officer is vacant, our president. In no event may our stockholders call a special meeting of stockholders. Our Certificate of Incorporation and Bylaws require the affirmative vote of the holders of at least 75% of the shares of our capital stock issued and outstanding and entitled to vote to amend or repeal these provisions.
		

		
			Advance Notification of Stockholder Nominations and Proposals
		

		
			Our Bylaws provide that stockholders seeking to bring business before an annual meeting of stockholders, or to nominate candidates for election as directors at an annual meeting of stockholders, must meet specified procedural requirements. These provisions may preclude stockholders from bringing matters before an annual meeting of stockholders or from making nominations for directors at an annual or special meeting of stockholders.IDRA_Ex1042

		

			 

		

		

			Exhibit 10.42

		

		

			 

		

		
			SECOND AMENDMENT TO LEASE
		

		
			 
		

		
			THIS SECOND AMENDMENT TO LEASE (“Amendment”) is made this 13th day of January, 2020 by and between 505 EAGLEVIEW BOULEVARD ASSOCIATES, a Pennsylvania limited partnership (“Landlord”) and IDERA PHARMACEUTICALS, INC., a corporation (“Tenant”).
		

		
			 
		

		
			BACKGROUND
		

		
			 
		

		
			Landlord and Tenant are parties to that certain lease agreement dated March 31, 2015, as amended by Amendment to Lease dated September 23, 2015 (collectively the “Lease”) relating to certain premises consisting of approximately 11,015 rentable square feet, more or less (“Leased Space”) as shown on Exhibit A to the Lease in the building known as 505 Eagleview Boulevard, Eagleview Corporate Center, Uwchlan Township, Exton, Chester County, Pennsylvania (the “Building”).  
		

		
			 
		

		
			NOW THEREFORE, the parties hereto, each intending to be legally bound hereby, agree that the Lease is hereby amended and modified as follows:
		

		
			 
		

			
	
			
				 1.
			Extension of Term.  The Term of the Lease is hereby extended for a period of five (5) years from June 1, 2020 through May 31, 2025 (the “Extension Term”), which shall hereinafter be the Expiration Date of the Term.  

			
	
			
				 2.
			Landlord’s Work.  Tenant accepts the Leased Space for the Extension Term, except that Landlord agrees that, at its expense, it shall provide improvements, described on Exhibit A, to be further documented by plans and specifications to be reviewed and approved by Landlord and Tenant prior to the commencement of work, which shall be treated as Landlord’ Work to which Section 8 of the Lease shall apply.

			
	
			
				 3.
			Rent for Extension Term.  Effective as of the June 1, 2010, Minimum Annual Rent payable in accordance with Section 1(h) of the Lease applicable to the Leased Space shall be in the following amounts:

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Lease Period 

					
					
						Rate Per Rentable Square Foot

					
					
						Minimum Annual Rent

					
					
						Monthly Installment

				
	
					
						6/1/2020-5/31/2021

					
					
						$20.00

					
					
						$220,300.00

					
					
						$18,358.33

				
	
					
						6/1/2021-5/31/2022

					
					
						$20.50

					
					
						$225,807.50

					
					
						$18,817.29

				
	
					
						6/1/2022-5/31/2023

					
					
						$21.00

					
					
						$231,315.00

					
					
						$19,276.25

				
	
					
						6/1/2023-5/31/2024

					
					
						$21.50

					
					
						$236,822.50

					
					
						$19,735.21

				
	
					
						6/1/2024-5/31/2025

					
					
						$22.00

					
					
						$242,330.00

					
					
						$20,194.17

				

		
			 
		

			
	
			
				 4.
			Amendment to Early Termination Option.

		
			 
		

		
			Section 17 of the Lease is amended to substitute for “more than 13,769 rentable square feet” the phrase “more than 11,015 rentable square feet”.
		

		
			 
		

			
	
			
				 5.
			Brokers. Tenant and Landlord represent and warrant to each other neither has had any dealings, negotiations or consultations with Tenant relating to this transaction and that no other 

		 

	broker or finder called the Expansion Space to Tenant's attention for lease or took any part in any dealings, negotiations or consultations relating to the Expansion Space or this Amendment.    Tenant agrees to be responsible for, indemnify, defend and hold harmless Landlord from and against all costs, fees (including, without limitation, attorney's fees), expenses, liabilities and claims incurred or suffered by Landlord arising from any breach by Tenant of Tenant’s foregoing representation and warranty.  Landlord agrees to be responsible for, indemnify, defend and hold harmless Tenant from and against all costs, fees (including, without limitation, attorney's fees), expenses, liabilities and claims incurred or suffered by Tenant arising from any breach by Landlord of Landlord’s foregoing representation and warranty.

		
			 
		

			
	
			
				 6.
			Miscellaneous.

		
			 
		

		
			(a) All capitalized terms not defined herein shall have the same meaning as the Lease.  From and after the date hereof, except to the extent that the context otherwise requires, the term “Lease” shall mean the Lease as modified by this Amendment.
		

		
			
		

		
			(b) Except as expressly modified hereby, the terms and conditions of the Lease remain unmodified and in full force and effect, which the parties hereby ratify and confirm. In the event of a conflict between the terms of the Lease and this Amendment, the latter shall control.  The foregoing shall apply to Section 44 of the Lease granting to Tenant an option to renew for an additional five (5) years, which shall apply to a period commencing at the end of the Extension Term.  Without limiting the foregoing, the parties hereby expressly ratify and restate the confession of judgment as provided in Section 25 of the Lease as follows:
		

		
			 
		

		
			Confession of Judgment
		

		
			 
		

		
			WHEN THE LEASE SHALL BE TERMINATED BY COVENANT OR CONDITION BROKEN, EITHER DURING THE ORIGINAL TERM OR ANY RENEWALS OR EXTENSIONS THEREOF, AND ALSO WHEN AND AFTER THE TERM CREATED OR, ANY RENEWAL OR EXTENSION THEREOF SHALL HAVE EXPIRED, IT SHALL BE LAWFUL FOR ANY ATTORNEY OF ANY COURT OF RECORD AS ATTORNEY FOR TENANT TO CONFESS JUDGMENT IN EJECTMENT AGAINST TENANT AND ALL PERSONS CLAIMING UNDER TENANT, AND A JUDGMENT FOR THE RECOVERY BY LANDLORD OF POSSESSION MAY ISSUE FORTHWITH WITHOUT ANY PRIOR WRIT OR PROCEEDINGS WHATSOEVER.  IF FOR ANY REASON AFTER SUCH ACTION SHALL HAVE BEEN COMMENCED, IT SHALL BE CANCELED OR SUSPENDED AND POSSESSION OF THE LEASED SPACE REMAINS IN OR IS RESTORED TO TENANT, LANDLORD SHALL HAVE THE RIGHT UPON ANY SUBSEQUENT DEFAULT OR TERMINATION OF THE LEASE, OR ANY RENEWAL OR EXTENSION THEREOF, TO BRING ONE OR MORE ACTIONS IN CONFESSION OF JUDGMENT FOR EJECTMENT AS HEREINBEFORE SET FORTH TO RECOVER POSSESSION OF THE LEASED SPACE.  IF IN ANY ACTION TO CONFESS JUDGMENT IN EJECTMENT, LANDLORD SHALL CAUSE TO BE FILED IN SUCH ACTION AN AFFIDAVIT SETTING FORTH THE FACTS NECESSARY TO AUTHORIZE THE ENTRY OF JUDGMENT AND IF A TRUE COPY OF THE LEASE OR THIS INSTRUMENT (AND THE TRUTH OF THE COPY STATED IN SUCH AFFIDAVIT SHALL BE SUFFICIENT PROOF) BE FILED IN SUCH ACTION, IT SHALL NOT BE NECESSARY TO FILE THE ORIGINAL AS A WARRANT OF ATTORNEY, ANY LAW, RULE OF COURT, CUSTOM OR PRACTICE TO THE 

		 

CONTRARY NOTWITHSTANDING. TENANT EXPRESSLY RELEASES TO LANDLORD, AND TO ANY AND ALL ATTORNEYS WHO MAY APPEAR FOR TENANT, ALL ERRORS IN THE SAID PROCEEDINGS, AND ALL LIABILITY THEREFOR.  TENANT EXPRESSLY WAIVES THE BENEFIT OF ALL LAWS, NOW OR HEREAFTER IN FORCE, EXEMPTING ANY GOODS WITHIN THE LEASED SPACE OR ELSEWHERE FROM DISTRAINT, LEVY OR SALE.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						TENANT

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						IDERA PHARMACEUTICALS, INC.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ Vincent J. Milano

				
	
					
						 

					
					
						Vincent J. Milano, Chief Executive Officer

				

		
			 
		

		
			 (c)The terms and conditions of the Lease, as amended hereby, constitutes the whole agreement between the parties and any further amendments or modifications to the terms of the Lease must be in writing and duly executed by the parties hereto.
		

		
			 
		

		
			(d) This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs and assigns, except as specifically provided herein or in the Lease, and is not intended to benefit any person or entity not a party hereto.
		

		
			 
		

		
			(e) This Amendment shall be construed under the laws of the Commonwealth of Pennsylvania without regard to conflicts of laws principles.
		

		
			 
		

		
			(f)This Amendment may be executed in any number of counterparts, each of which shall be deemed an original and all of which counterparts together shall constitute one and the same instrument. It shall not be necessary for all parties to execute the same counterpart, so long as each party shall have executed at least one counterpart, but in this latter event, each party shall have delivered to it photocopies of counterparts showing signatures of all of the parties.
		

		
			 
		

		
			(g)This instrument may not be recorded in the Office of the Recorder of Deeds or any other place of public record.
		

		
			 
		

		
			THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
		

		
			

		 

		

		
			IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the day and year first above written.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						LANDLORD:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						505 Eagleview Boulevard Associates, a Pennsylvania limited partnership

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: 505 Eagleview Boulevard Associates, Inc., its general partner

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ Robert S. Hankin

				
	
					
						 

					
					
						Robert S. Hankin, President

				

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						TENANT:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						IDERA PHARMACEUTICALS, INC., a corporation

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ Vincent J. Milano

				
	
					
						 

					
					
						Vincent J. Milano, Chief Executive Officer

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