Document:

Revolver Amendment_June 2013

Exhibit 10.1
FIRST AMENDMENT TO CREDIT AGREEMENT
FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) dated as of June 12, 2013, among MERITAGE HOMES CORPORATION, a Maryland corporation (the “Borrower”), JPMORGAN CHASE BANK, N.A., as a Lender (“JPM”), CITIBANK, NATIONAL ASSOCIATION, as a Lender  (“Citi”), DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender (“DB”), and BANK OF AMERICA, N.A., as a Lender (“BOA”, and together with JPM, Citi, DB and any other party who becomes a Lender to the Credit Agreement (as defined below) after the date hereof pursuant to Section 10.6 of the Credit Agreement, collectively, the “Lenders”), JPMORGAN CHASE BANK, N.A., as administrative agent on behalf of the Lenders (in such capacity, together with its successors and assigns in such capacity, the “Administrative Agent”), and as Swingline Lender and as Issuing Lender, and J.P. MORGAN SECURITIES LLC and CITIBANK N.A., as Joint Lead Bookrunners and Joint Lead Arrangers.
RECITALS:
A.    The Borrower, the Administrative Agent and the Lenders are parties to that certain Credit Agreement, dated as of July 24, 2012 (as amended, modified and supplemented and in effect from time to time, the “Credit Agreement”; and, except as otherwise herein expressly provided, all capitalized terms used herein shall have the meaning assigned to such terms in the Credit Agreement), which Credit Agreement provides, among other things, for loans and other extensions of credit to be made by the Lenders to the Borrower in an aggregate amount of up to $125,000,000.
B.    The Borrower, the Administrative Agent and the Lenders desire to, among other things, extend the Termination Date and modify the accordion feature to allow for an increase in Total Commitments of up to $200,000,000.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
Section 1.Amendment of Credit Agreement.  Effective as of the Effective Date (as hereinafter defined), the Credit Agreement is hereby amended as follows:
(a)    The definition of “Borrowing Base” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Borrowing Base”:  as of any date, an amount calculated as follows: 
(a)    100% of Unrestricted Cash to the extent it exceeds the Required Liquidity; plus
(b)    100% of the amount of Escrow Proceeds Receivable; plus

(c)    90% of the book value of Units Under Contract; plus
(d)    85% of the book value of Units Under Construction; plus
(e)    subject to the limitations set forth below, 85% of the book value of Speculative Units (other than Model Units); plus
(f)    subject to the limitations set forth below, 85% of the book value of Model Units; plus
(g)    65% of the book value of Finished Lots; plus
(h)    65% of the book value of Lots Under Development; plus
(i)    subject to the limitation set forth below, 50% of the book value of Entitled Land that is not included in the Borrowing Base clauses (a) through (h).
Notwithstanding the foregoing:
(i) the advance rate for Speculative Units (other than Model Units) shall decrease to (A) 60% for any Unit that has been a Speculative Unit for more than 360 days, but less than 540 days and (B) 0% for any Unit that has been a Speculative Unit for 540 days or more; 
(ii)  the advance rate for Model Units shall decrease to 0% for any Unit that has been a Model Unit for more than 180 days following the sale of the last production Unit in the applicable project relating to such Model Unit; and
(iii) the Borrowing Base shall not include any amount under clause (i) under the Borrowing Base to the extent that such amount exceeds 25% of the total Borrowing Base.
(b)    The definition of “L/C Commitment” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“L/C Commitment”:  $75,000,000; provided, however, that the L/C Commitment automatically shall be increased by an amount equal to sixty percent (60%) of each dollar increase by which the Total Commitments  have been increased in accordance with Section 2.21.
(c)    The definition of “Termination Date” set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Termination Date”:  July 24, 2016, subject, however, to earlier termination of the Total Commitment pursuant of the terms of this Agreement.

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(d)    The definition of “Unrestricted Subsidiary” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Unrestricted Subsidiary”:  (i) any Financial Services Subsidiary, (ii) any Designated Subsidiary, and (iii) a Subsidiary designated by the Borrower (evidenced by resolutions of the Board of Directors of the Borrower, delivered to the Administrative Agent certifying compliance with this definition) as a Subsidiary resulting from any investment (including any guarantee of Indebtedness) made by the Borrower or any other Loan Party in Joint Ventures engaged in homebuilding, land acquisition or land development businesses and businesses that are reasonably related thereto or reasonable extensions thereof with unaffiliated third parties; provided that the aggregate amount of investments in all Designated Subsidiaries (excluding Financial Services Subsidiaries) shall not exceed $15 million (with the amount of each investment being calculated based upon the amount of investments made on or after the date such joint venture becomes a Subsidiary); provided, further, that if the Borrower subsequently designates a Subsidiary, which previously had been designated an Unrestricted Subsidiary, to be a Guarantor (evidenced by resolutions of the Board of Directors of the Borrower, delivered to the Administrative Agent certifying compliance with this definition) and causes such Subsidiary to comply with Section 6.7, then the amount of any investments in such Unrestricted Subsidiary made on or after the date such joint venture became a Subsidiary shall be credited against the $15 million basket set forth in this definition (up to a maximum amount of $15 million).
(e)    Section 2.21 of the Credit Agreement is hereby amended to replace the numbers “$25,000,000” and “$150,000,000” where they appear with the numbers “$75,000,000” and “$200,000,000”, respectively.
(f)    The words “paragraph (e) above” in the second line of the text following Section 8(k) of the Credit Agreement are hereby amended and replaced with the words “paragraph (f) above”. 
Section 2.    Effective Date.  Subject to the satisfaction of the conditions set forth in Section 4 hereof, this Amendment shall be effective as of the date of this Amendment (the “Effective Date”). 
Section 3.    Representations.  The Borrower hereby represents and warrants to the Administrative Agent and the Lenders, as follows:
(a)    Each of the representations and warranties contained in the Credit Agreement, as amended by this Amendment, or any of the other Loan Documents, is true and correct in all material respects on and as of the date hereof except if any such representation or warranty was made as of a specific date, then the same shall have been true and correct in all material respects as of such specific date;

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(b)    As of the date hereof and immediately after giving effect to this Amendment and the actions contemplated hereby, no Default or Event of Default has occurred and is continuing; 
(c)    Borrower has all necessary corporate power and authority to execute, deliver and perform its obligations under this Amendment; the execution, delivery and performance of this Amendment has been duly authorized by all necessary corporate action on the part of Borrower; and this Amendment has been duly and validly executed and delivered by Borrower and constitutes the legal, valid and binding obligation of Borrower, enforceable in accordance with its respective terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the enforcement of creditors’ rights and (ii) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); and
(d)    This Amendment (i) does not require any consent or approval of, registration or filing with, or any other action by, any governmental authority, except for such as have been obtained or made and are in full force and effect, (ii) will not violate any applicable law or regulation, the certificate of incorporation or by-laws of Borrower, or any order of any governmental authority and (iii) will not violate or result in a default under any Contractual Obligation of Borrower.
Section 4.    Conditions to the Effectiveness of this Agreement.  It shall be a condition precedent to the effectiveness of this Amendment that each of the following conditions are satisfied:
(a)    the parties hereto shall have executed and delivered counterparts of this Amendment to the Administrative Agent; 
(b)    each Guarantor shall have executed and delivered a Reaffirmation of Guarantee Agreement, in the form of the Reaffirmation of Guarantee Agreement attached hereto as Exhibit A;
(c)    the Administrative Agent shall have received such opinions as Administrative Agent may require concerning the due authorization, execution, delivery and enforceability of this Amendment and any other amendments, modifications and supplements to the Loan Documents entered into in connection herewith;
(d)    no Default or Event of Default shall exist as of the Effective Date;
(e)    Borrower shall have delivered to the Administrative Agent a duly executed Compliance Certificate and a Borrowing Base Certificate, each for the period ending March 31, 2013;
(f)    Borrower shall have paid to the Administrative Agent (on behalf of the Lenders) an extension fee equal to 0.3333% of  the aggregate Commitments; and
(g)    Borrower shall have paid to the Administrative Agent all of the Administrative Agent’s reasonable out of pocket costs and expenses, including legal fees, incurred in connection with this Amendment.

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Section 5.    Reaffirmation and Ratification.  Borrower hereby: (a) reaffirms, ratifies, confirms, and acknowledges its obligations under the Loan Documents and agrees to continue to be bound thereby and perform thereunder; (b) agrees and acknowledges that all such Loan Documents and all of Borrower’s obligations thereunder are and remain in full force and effect and, except as expressly provided herein, have not been modified; and (c) acknowledges and agrees that to its knowledge it has no defenses, offsets or counterclaims of any kind or nature whatsoever to its obligations under the Loan Documents. 
Section 6.    Miscellaneous.
(a)    GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
(b)    Amendments, Etc.  The terms of this Amendment may be waived, modified and amended only by an instrument in writing duly executed by Borrower and the Administrative Agent (with any required consent of the Lenders pursuant to the Credit Agreement).  Any such waiver, modification or amendment shall be binding upon Borrower, the Administrative Agent and each Lender (including the Swingline Lender and Issuing Lender).
(c)    Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the respective successors and assigns of Borrower, the Administrative Agent and the Lenders (including the Swingline Lender and Issuing Lender).
(d)    Captions.  The captions and section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.
(e)    Counterparts.  This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Amendment by signing any such counterpart.  Delivery of an executed signature page of this Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.
(f)    Severability.  Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.
[Signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year first above written.

MERITAGE HOMES CORPORATION, as Borrower

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer

[Signatures continue on the next page.]

    
     S-1

JPMORGAN CHASE BANK, N.A., as Administrative Agent, Issuing Lender, Swingline Lender and as a Lender
	
		
	/s/
	Mohammed Hasan

	By:
	Mohammed Hasan

	Title:
	Vice President

[Signatures continue on the next page.]

    
     S-2

CITIBANK, NATIONAL ASSOCIATION, as a Lender
	
		
	/s/
	John C. Rowland

	By:
	John C. Rowland

	Title:
	Vice President

[Signatures continue on the next page.]

    
     S-3

DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender
	
		
	/s/
	Michael Getz

	By:
	Michael Getz

	Title:
	Vice President

	
		
	/s/
	Marcus M. Tarkington

	By:
	Marcus M. Tarkington

	Title:
	Director

 

[Signatures continue on the next page.]

    
     S-4

BANK OF AMERICA, N.A., as a Lender
	
		
	/s/
	Ann Superfisky

	By:
	Ann Superfisky

	Title:
	Vice President

     S-5

REAFFIRMATION OF GUARANTEE AGREEMENT
As consideration for the agreements and covenants contained in the within Amendment, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each of the undersigned (“Guarantor”), as a guarantor under that certain Guarantee Agreement, dated as of July 24, 2012 (the “Guarantee”), delivered to the Administrative Agent in connection with the extension of credit made by the Lenders pursuant to the Credit Agreement referred to above, hereby acknowledges, covenants and agrees as follows:
1.    By the execution hereof, such Guarantor hereby consents to the within Amendment and all the modifications to the Loan Documents contemplated in connection therewith.
2.    References to the Guarantee Agreement in any or all of the Loan Documents shall be deemed to include references to the Guarantee Agreement as reaffirmed and ratified by this Reaffirmation of Guarantee Agreement.  
3.    Such Guarantor reaffirms that the Guarantee Agreement remains unchanged and in full force and effect.
4.    Such Guarantor reaffirms all of its respective obligations contained in the Guarantee Agreement, which shall remain in full force and effect for all the obligations of such Guarantor now or hereafter owing to Administrative Agent (on behalf of the Lenders) pursuant to the terms and conditions of the Guarantee Agreement and acknowledges, agrees, represents and warrants that no agreements exist with respect to the Guarantee Agreement or with respect to the obligations of the Guarantor thereunder except those specifically set forth in this Reaffirmation of Guarantee Agreement.
5.    As of the date hereof and immediately after giving effect to this Amendment and the actions contemplated thereby, each of the representations and warranties of such Guarantor contained in the Guarantee Agreement, as amended by this Amendment, are true and correct in all material respects.
6.    Such Guarantor acknowledges and agrees that it has entered into and delivered this Reaffirmation of Guarantee Agreement of Guarantor’s own free will, voluntarily and without coercion or duress of any kind, and has been represented in connection herewith by counsel of its choice and is fully aware of the terms contained in this Reaffirmation of Guarantee Agreement.
[Signature page follows.]

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IN WITNESS WHEREOF, each Guarantor has caused this Reaffirmation of Guarantee to be duly executed and delivered as of this June 12, 2013.

GUARANTORS:

MERITAGE PASEO CROSSING, LLC

		
	By:
	Meritage Homes of Arizona, Inc.

		
	Its:
	Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

    

MERITAGE PASEO CONSTRUCTION, LLC

		
	By:
	Meritage Homes Construction, Inc. 

		
	Its:
	Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOMES OF ARIZONA, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

2

MERITAGE HOMES CONSTRUCTION, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOMES OF TEXAS HOLDING, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOMES OF CALIFORNIA, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

3

MERITAGE HOMES OF TEXAS JOINT VENTURE
HOLDING COMPANY, LLC

		
	By:
	Meritage Homes of Texas, LLC 

		
	Its:
	Sole Member

		
	By:
	Meritage Homes of Texas Holding, Inc.

		
	Its:
	Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOLDINGS, L.L.C.

		
	By:
	Meritage Homes of Texas Holding, Inc.

		
	Its:
	Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOMES OF NEVADA, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

4

MTH-CAVALIER, LLC

		
	By:
	Meritage Homes Construction, Inc. 

		
	Its:
	Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MTH GOLF, LLC

		
	By:
	Meritage Homes Construction, Inc. 

		
	Its:
	Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOMES OF COLORADO, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

    

5

MERITAGE HOMES OF FLORIDA, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

    

CALIFORNIA URBAN HOMES, LLC

		
	By:
	Meritage Homes of California, Inc.

Its:    Sole Member and Manager

    
	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOMES OF TEXAS, LLC

		
	By:
	Meritage Homes of Texas Holding, Inc.

Its:    Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

 

    

6

MERITAGE HOMES OPERATING COMPANY, LLC

By:    Meritage Holdings, L.L.C.
Its:    Manager
    
By:    Meritage Homes of Texas Holding, Inc.
Its:    Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

WW PROJECT SELLER, LLC

By:    Meritage Paseo Crossing, LLC
Its:    Sole Member
    
By:    Meritage Homes of Arizona, Inc.
Its:    Sole Member

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOMES OF THE CAROLINAS, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

    

7

CAREFREE TITLE AGENCY, INC.

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

 

M&M FORT MYERS HOLDINGS, LLC
By:    Meritage Paseo Crossing, LLC 
Its:    Sole Member and Manager

By:    Meritage Homes of Arizona, Inc.
Its:    Sole Member 

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

MERITAGE HOMES OF FLORIDA REALTY LLC, a Florida limited liability company
By:    Meritage Homes of Florida, Inc.
Its:    Sole Member and Manager

	
		
	/s/
	Larry W. Seay

	By:
	Larry W. Seay

	Title:
	Executive Vice President and Chief Financial Officer and Assistant Secretary

8Exhibit 4.2

 

EIGHTH AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT

 

THIS EIGHTH AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT (this “Agreement”) made as of July 27, 2012, by and among Onconova Therapeutics, Inc., a Delaware corporation (the “Corporation”), the persons listed as owners of Series A Preferred Stock on Schedule I hereto (the “Series A Investors”), the persons listed as owners of Series B Preferred Stock on Schedule I hereto (the “Series B Investors”), the persons listed as owners of Series C Preferred Stock on Schedule I hereto (the “Series C Investors”), the persons listed as owners of Series D Preferred Stock on Schedule I hereto (the “Series D Investors”), the persons listed as owners of Series E Preferred Stock on Schedule I hereto (the “Series E Investors”), the persons listed as owners of Series F Preferred Stock on Schedule I hereto (the “Series F Investors”), the persons listed as owners of Series G Preferred Stock and/or Warrants to purchase Series G Preferred Stock (the “Series G Warrants”) on Schedule I hereto (the “Series G Investors”), the persons listed as owners of Series H Preferred Stock on Schedule I hereto (the “Series H Investors”), the persons listed as owners of Series I Preferred Stock on Schedule I hereto (the “Series I Investors”) and the persons listed as owners of Series J Preferred Stock on Schedule I hereto (the “Series J Investors” and, together with the Series A Investors, Series B Investors, Series C Investors, Series D Investors, Series E Investors, Series F Investors, Series G Investors, Series H Investors and Series I Investors, collectively, the “Investors”), and the persons listed as Common Stockholders on Schedule I hereto (with the Investors, the “Stockholders”).

 

BACKGROUND

 

Each of the Stockholders owns that number of shares of Common Stock, Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock and/or Series G Warrants, Series H Preferred Stock, Series I Preferred Stock and Series J Preferred Stock (together with any other shares of capital stock of the Corporation now owned or hereafter acquired by the Stockholders and their successors or assigns from any Person by any means, including without limitation, any acquisition by gift, purchase, dividend, conversion, stock split, recapitalization or otherwise, collectively, the “Shares”) set forth opposite the name of each such Stockholder on Schedule I attached hereto.  It is deemed to be in the best interest of the Corporation and the Stockholders that provision be made for the continuity and stability of the business and policies of the Corporation and, to that end, the Corporation and the Stockholders hereby set forth their agreement with respect to the Shares.

 

NOW, THEREFORE, in consideration of the premises and of the mutual consents and obligations hereinafter set forth, the parties hereto hereby agree as follows:

 

SECTION 1.                            Definitions.  All capitalized terms used in this Agreement shall have the meanings assigned to them elsewhere in this Agreement or as specified below:

 

“Affiliate” of any Person shall mean any Person directly or indirectly controlling, controlled by or under common control with such Person.

 

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“Certificate of Incorporation” shall mean the Corporation’s Ninth Amended and Restated Certificate of Incorporation, setting forth, among other things, the designations, rights, preferences and privileges and qualifications, limitations and restrictions of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and Series J Preferred Stock.

 

“Commission” shall mean the United States Securities and Exchange Commission.

 

“Common Stock” shall mean (a) the Corporation’s Common Stock, par value $.0l per share, as authorized on the date of this Agreement, (b) any other capital stock of any class or classes (however designated) of the Corporation, authorized on or after the date hereof, the holders of which shall have the right, without limitation as to amount, either to all or to a share of the balance of current dividends and liquidating distributions after the payment of dividends and distributions on any shares entitled to preference under the Certificate of Incorporation (as the same may be further amended from time to time), and (c) any other securities into which or for which any of the securities described in clause (a) or (b) of this definition may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, sale of assets or otherwise.

 

“Corporation Notice” shall have the meaning set forth in Section 3(b) hereof.

 

“Demand Holder” shall mean any holder of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock (or shares of Common Stock issued upon conversion of shares of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock) owning of record Registrable Securities that have not been sold to the public and, for purposes of this Agreement, a record holder of the Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock convertible into such Registrable Securities shall be deemed to be the Demand Holder of such Registrable Securities; provided, however, that the Corporation shall in no event be obligated to register the Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock or Series J Preferred Stock, and that Demand Holders of Registrable Securities shall not be required to convert their shares of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock into Common Stock in order to exercise the registration rights granted under Section 5(f) hereof, until immediately before the closing of the offering to which the registration relates.

 

“Designated Offering” shall mean a firmly underwritten public offering registered under the Securities Act, where the gross proceeds to the Corporation from such offering, after

 

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deducting underwriters discounts, are not less than $25,000,000, and at a per share price (determined on a common stock equivalent basis) of at least $16.50 (or such lower price, down to $11.50, to which the holders of a majority of the outstanding shares of Series J Preferred Stock may consent in writing) as adjusted for stock splits, stock dividends, stock combinations or stock reclassifications.

 

“Equity Securities” shall have the meaning set forth in Section 2(a) hereof.

 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same shall be in effect at the time.

 

“Excluded Form” shall mean a registration statement filed pursuant to the Securities Act on Form S-8, S-4 or any similar or successor forms.

 

“Excluded Securities” shall mean those securities described in Section 2(f) hereof.

 

“Form S-3” shall mean such form under the Securities Act as is in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the Commission that permits inclusion or incorporation of substantial information by reference to other documents filed by the Corporation with the Commission.

 

“Founders” shall mean the following individuals: Dr. E. Premkumar Reddy, Dr. John R. Jenkins and Dr. Ramesh Kumar, each of whom has an address specified on Schedule I hereto.

 

“Founders Notice” shall have the meaning set forth in Section 3(c) hereof.

 

“Holder” shall mean any holder of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series G Warrants, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock (or shares of Common Stock issued (either directly or indirectly) upon conversion thereof) owning of record Registrable Securities that have not been sold to the public and, for purposes of this Agreement, a record holder of the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series G Warrants, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock convertible (either directly or indirectly) into such Registrable Securities shall be deemed to be the Holder of such Registrable Securities; provided, however, that the Corporation shall in no event be obligated to register the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series G Warrants, Series H Preferred Stock, Series I Preferred Stock or Series J Preferred Stock, and that Holders of Registrable Securities shall not be required to convert their shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock into Common Stock, or exercise their Series G Warrants and convert the shares issued thereunder into

 

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Common Stock, in order to exercise the registration rights granted under Section 5 hereof, until immediately before the closing of the offering to which the registration relates.

 

“Investor Oversubscription Rights” shall have the meaning set forth in Section 2(b) hereof.

 

“Majority Investors” shall have the meaning set forth in Section 2 hereof.

 

“Mehta Investors” shall mean Mehta Partners, LLC and/or its affiliates that are parties to the Series B Purchase Agreement.

 

“Non-Principal Transferring Stockholder” shall have the meaning set forth in Section 3(a) hereof.

 

“Notice of Acceptance” shall have the meaning set forth in Section 2(c) hereof.

 

“Offer” shall have the meaning set forth in Section 2(a) hereof.

 

“Oversubscribing Investor” shall have the meaning set forth in Section 2(b) hereof.

 

“Permitted Transfer” and “Permitted Transferee” shall have the meanings set forth in Section 3(d) hereof.

 

“Person” shall mean and include an individual, a corporation, a limited liability company, a partnership, a trust, an unincorporated organization and a government or any department, agency or political subdivision thereof.

 

“Preferred Stock” shall mean, collectively, the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and Series J Preferred Stock.

 

“Principal Stockholders” shall mean the following individuals:  Dr. E. Premkumar Reddy and Dr. Ramesh Kumar, each of whom has an address specified on Schedule I hereto.

 

“Principal Transferring Stockholder” shall have the meaning set forth in Section 3(a) hereof.

 

“Register”, “registered” and “registration” shall refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement.

 

“Registrable Securities” shall mean:  (a) all the shares of Common Stock of the Corporation issued or issuable upon the conversion of the shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock that are now owned or may hereafter be acquired

 

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by any Holder or its permitted successors and assigns, including upon exercise of the Series G Warrants; and (b) any shares of Common Stock of the Corporation issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, all such shares of Common Stock described in clause (a) of this definition; excluding in all cases, however, (i) any Registrable Securities sold pursuant to registration under the Securities Act or (ii) any Registrable Securities sold, subsequent to the Corporation’s initial public offering of securities registered under the Securities Act, pursuant to Rule 144 (or similar or successor rule) promulgated under the Securities Act.

 

“Registrable Securities then outstanding” shall mean the number of shares of Registrable Securities that are then issued and outstanding or are then issuable pursuant to the exercise or conversion of then outstanding and then exercisable options, warrants or convertible securities.

 

“Remaining Securities” shall have the meaning set forth in Section 2(d) hereof.

 

“Sale Shares” shall have the meaning set forth in Section 3(a) hereof.

 

“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same shall be in effect at the time.

 

“Series A Preferred Stock” shall mean the Corporation’s authorized 400,000 shares of Series A Convertible Preferred Stock, par value $.0l per share, having the designations, rights, preferences and privileges and qualifications, limitations and restrictions of preferred stock set forth in the Certificate of Incorporation.

 

“Series A Purchase Agreement” shall mean either the Stock Purchase and Subscription Agreement dated as of December 3, 1999 or the Stock Purchase and Subscription Agreement dated as of January 20, 2000, between the Corporation and the Series A Investors, as the same may be amended from time to time individually, or both such agreements together, as the context may require.

 

“Series B Directors” shall have the meaning set forth in Section 15(b) hereof.

 

“Series B Preferred Stock” shall mean the Corporation’s authorized 1,200,000 shares of Series B Convertible Preferred Stock, par value $.01 per share, having the designations, rights, preferences and privileges and qualifications, limitations and restrictions of preferred stock set forth in the Certificate of Incorporation.

 

“Series B Purchase Agreement” shall mean the Series B Convertible Preferred Stock Purchase Agreement dated as of November 14, 2000, between the Corporation and the Series B Investors, as the same may be amended from time to time.

 

“Series C Preferred Stock” shall mean the Corporation’s authorized 1,200,000 shares of Series C Convertible Preferred Stock, par value $.01 per share, having the designations,

 

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rights, preferences and privileges and qualifications, limitations and restrictions of preferred stock set forth in the Certificate of Incorporation.

 

“Series C Purchase Agreement” shall mean the Series C Convertible Preferred Stock Purchase Agreement, dated as of December 27, 2002, between the Corporation and the Series C Investors, as the same may be amended from time to time.

 

“Series D Director” shall have the meaning set forth in Section 15(b) hereof.

 

“Series D Preferred Stock” shall mean the Corporation’s authorized 1,625,000 shares of Series D Convertible Preferred Stock, $0.01 par value, having the designations, rights, preferences, privileges, qualifications, limitations and restrictions set forth in the Certificate of Incorporation.

 

“Series D Purchase Agreement” shall mean the Series D Convertible Preferred Stock Purchase Agreement, dated as of March 19, 2004, between the Corporation and the Series D Investors, as amended by that certain First Amendment to Series D Convertible Preferred Stock Purchase Agreement, between the Corporation and the Series D Investors, dated July 15, 2004.

 

“Series E Preferred Stock” shall mean the Corporation’s authorized 1,650,000 shares of Series E Convertible Preferred Stock, $0.01 par value, having the designations, rights, preferences, privileges, qualifications, limitations and restrictions set forth in the Certificate of Incorporation.

 

“Series E Purchase Agreement” shall mean each of the Series E Convertible Preferred Stock Purchase Agreement, dated as of March 18, 2005, between the Corporation and the Series E Investors and the Second Series E Stock Purchase Agreement, as amended, dated as of December 1, 2005, between the Corporation and the Series E Investors.

 

“Series F Preferred Stock” shall mean the Corporation’s authorized 2,000,000 shares of Series F Convertible Preferred Stock, $0.01 par value, having the designations, rights, preferences, privileges, qualifications, limitations and restrictions set forth in the Certificate of Incorporation.

 

“Series F Purchase Agreement” shall mean the Series F Convertible Preferred Stock Purchase Agreement, dated as of May 15, 2007, between the Corporation and the Series F Investors.

 

“Series G Preferred Stock” shall mean the Corporation’s authorized 2,700,000 shares of Series G Convertible Preferred Stock, $0.01 par value, having the designations, rights, preferences, privileges, qualifications, limitations and restrictions set forth in the Certificate of Incorporation.

 

“Series G Purchase Agreement” shall mean the Series G Convertible Preferred Stock Purchase Agreement, dated as of May 12, 2009, between the Corporation and certain of the Series G Investors, as the same has been amended and may be further amended from time to time.

 

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“Series H Director” shall have the meaning set forth in Section 15(b)(i) hereof.

 

“Series H Preferred Stock” shall mean the Corporation’s authorized 2,042,950 shares of Series H Convertible Preferred Stock, $0.01 par value, having the designations, rights, preferences, privileges, qualifications, limitations and restrictions set forth in the Certificate of Incorporation.

 

“Series H Purchase Agreement” shall mean the Series H Convertible Preferred Stock Purchase Agreement, dated as of September 21, 2010, between the Corporation and the Series H Investors, as the same has been amended and may be further amended from time to time.

 

“Series I Preferred Stock” shall mean the Corporation’s authorized 2,700,000 shares of Series I Convertible Preferred Stock, $0.01 par value, having the designations, rights, preferences, privileges, qualifications, limitations and restrictions set forth in the Certificate of Incorporation.

 

“Series I Conversion Agreement” shall mean that Second Amendment to Convertible Note Purchase Agreement and Amendment to Convertible Notes made as of July 20, 2012, by and among the Corporation and the holders of Convertible Notes representing at least a majority of the principal amount under all Convertible Notes, as defined therein, then outstanding.

 

“Series J Preferred Stock” shall mean the Corporation’s authorized 3,030,303 shares of Series J Convertible Preferred Stock, $0.01 par value, having the designations, rights, preferences, privileges, qualifications, limitations and restrictions set forth in the Certificate of Incorporation.

 

“Series J Purchase Agreement” shall mean the Series J Convertible Preferred Stock Purchase Agreement, dated as of July 27, 2012, between the Corporation and the Series J Investors, as the same has been amended and may be further amended from time to time.

 

“Shares Transfer” shall have the meaning set forth in Section 3(a) hereof.

 

“Subsection (c) Resignation” shall have the meaning set forth in Section 15(c) hereof.

 

“Transfer” shall mean any sale, assignment, transfer, disposition, donation, pledge, bequest, hypothecation, gift, conveyance, encumbrance or any other disposition or transfer of a Share or any interest or rights (legal or equitable) therein by any means whatsoever, whether direct or indirect, absolute or conditional, voluntary or involuntary, by operation of law (including without limitation, by operation of the laws of descent and distribution) or otherwise.

 

“TS Notice” shall have the meaning set forth in Section 3(a) hereof.

 

“Unsubscribed Shares” shall have the meaning set forth in Section 2(b) hereof.

 

“Violation” shall have the meaning set forth in Section 5(i) hereof.

 

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SECTION 2.                            Right of First Offer.  Each Series A Investor owning ten percent (10%) or more of the Series A Preferred Stock originally purchased by such Investor under the Series A Purchase Agreement, each Series B Investor owning ten percent (10%) or more of the Series B Preferred Stock originally purchased by such Investor under the Series B Purchase Agreement, each Series C Investor owning ten percent (10%) or more of the Series C Preferred Stock originally purchased by such Investor under the Series C Purchase Agreement, each Series D Investor owning ten percent (10%) or more of the Series D Preferred Stock originally purchased by such Investor under the Series D Purchase Agreement, each Series E Investor owning ten percent (10%) or more of the Series E Preferred Stock originally purchased by such Investor under the Series E Purchase Agreement, each Series F Investor owning ten percent (10%) or more of the Series F Preferred Stock originally purchased by such Investor under the Series F Purchase Agreement, each Series G Investor owning ten percent (10%) or more of the Series G Preferred Stock originally purchased by such Investor under the Series G Purchase Agreement (including shares issued or issuable upon exercise of the Series G Warrant purchased thereunder), each Series H Investor owning ten percent (10%) or more of the Series H Preferred Stock originally purchased by such Investor under the Series H Purchase Agreement, each Series I Investor owning ten percent (10%) or more of the Series I Preferred Stock originally received by such Investor under the Series I Conversion Agreement and each Series J Investor owning ten percent (10%) or more of the Series J Preferred Stock originally purchased by such Investor under the Series J Purchase Agreement (each, a “Majority Investor”), shall be entitled to the following right of first offer, except with respect to issuances of Excluded Securities, in connection with which there shall be no right of first offer:

 

(a)                                 The Corporation shall not issue, sell or exchange, agree to issue, sell or exchange, or reserve or set aside for issuance, sale or exchange, (i) any shares of Common Stock, (ii) any other equity security of the Corporation, (iii) any debt security of the Corporation which by its terms is convertible into or exchangeable for, with or without consideration, any equity security of the Corporation, (iv) any security of the Corporation that is a combination of debt and equity or (v) any option, warrant or other right to subscribe for, purchase or otherwise acquire any equity security or any such debt security of the Corporation (collectively, the “Equity Securities”), unless in each case the Corporation shall have first offered to sell to the Majority Investors the Equity Securities, at a price and on such other terms as shall have been specified by the Corporation in a writing delivered to the Majority Investors (the “Offer”), which Offer by its terms shall remain open and irrevocable for a period of thirty (30) days from the date the Offer is received by the Majority Investors.

 

(b)                                 The Majority Investors shall have the right to purchase up to their pro rata share of the Equity Securities.  For these purposes, a Majority Investor’s “pro rata share” shall be that amount of the Equity Securities which would result in the Majority Investor’s owning the same percentage of the Corporation’s issued and outstanding Common Stock after the issuance of Equity Securities as the Majority Investor owned immediately prior to the issuance (assuming in each case the issuance of all shares of Common Stock issuable upon the conversion or exchange of all outstanding securities convertible into or exchangeable for Common Stock, including, if applicable, the Equity Securities).  However, each Majority Investor may, in his notice delivered pursuant to Section 2(c), subscribe for any number of the Equity Securities being offered by the Corporation.  Any Equity Securities which are not purchased as part of a Majority Investor’s pro rata share (“Unsubscribed Shares”) may be purchased by the other

 

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Majority Investors (“Oversubscribing Investors”) who indicated the desire to purchase more (specifying the number of shares) than their respective pro rata shares of the Equity Securities in their respective notices of exercise (“Investor Oversubscription Rights”).  If not enough Equity Securities are offered for sale to satisfy all properly exercised Investor Oversubscription Rights, the Unsubscribed Shares shall be sold to and purchased by Majority Investors exercising Investor Oversubscription Rights pro rata.  For the purpose of Investor Oversubscription Rights each Oversubscribing Investor’s pro rata portion will be equal to the total number of shares of Common Stock held by such Oversubscribing Investor as a percentage of the total number of shares of Common Stock held by all Oversubscribing Investors (assuming in each case the issuance of all shares of Common Stock issuable upon the conversion or exercise of all securities convertible into or exchangeable for Common Stock held by the Oversubscribing Investors).

 

(c)                                  Notice of a Majority Investor’s intention to accept, in whole or in part, an Offer shall be evidenced by a writing signed by the Majority Investor and delivered to the Corporation at or prior to the end of the 30-day period commencing with the date the Offer is sent by the Corporation (or, if later, within 10 days after the sending of any written notice of a material change in such Offer), setting forth such portion (specifying number of shares, principal amount or the like) of the Equity Securities as the Majority Investor elects to purchase and giving notice of any exercise of Investor Oversubscription Rights (the “Notice of Acceptance”).

 

(d)                                 The Corporation shall have 60 days from the expiration of the foregoing 30-day period to sell all or any part of such Equity Securities as to which a Notice of Acceptance has not been given by the Majority Investors (the “Remaining Securities”) to any other Person or Persons, but only upon terms and conditions which are no more favorable, in the aggregate, to such other Person or Persons or less favorable to the Corporation than those set forth in the Offer; provided, however, that in the event the Corporation concludes that such terms and conditions are no more favorable, in the aggregate, to such other Person or Persons or less favorable to the Corporation than those set forth in the Offer, but such terms and conditions contain material (whether individually or in the aggregate) modifications to the terms and conditions of the Offer, then the Corporation shall provide to the Majority Investors written notice of such modifications and each Majority Investor shall, by a writing signed by such Majority Investor and delivered to the Corporation at or prior to the end of the five (5)-day period commencing with the date such notice of the Corporation’s conclusion is sent by the Corporation, indicate whether they agree with the Corporation’s conclusion.  A failure to respond within such five (5)-day period shall be deemed an acceptance of the Corporation’s conclusion.  If the holders of a majority of the shares held by the Majority Investors indicate that they disagree with the Corporation’s conclusion, then the Majority Investors shall have the right set forth in subsection (c) above and the notice of the Corporation’s conclusion hereunder shall be deemed to constitute the written notice of material change in such Offer thereunder.  Upon the closing of the sale to such other Person or Persons of all the Remaining Securities, which shall include payment of the purchase price to the Corporation in accordance with the terms of the Offer, if a Majority Investor has timely submitted a Notice of Acceptance, he shall purchase from the Corporation, and the Corporation shall sell to the Majority Investor, the Equity Securities (including Unsubscribed Shares) in respect of which a Notice of Acceptance was delivered to the Corporation by the Majority Investor, at the terms specified in the Offer.

 

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(e)                                  In each case, any Equity Securities not purchased by a Majority Investor or by a Person or Persons in accordance with Section 2(d) may not be sold or otherwise disposed of until they are again offered to the Majority Investors under the procedures specified in Sections 2(a), (b), (c) and (d) hereof.

 

(f)                                   The rights of the Investor under this Section 2 shall not apply to the following securities (the “Excluded Securities”):

 

(i)                                     Common Stock or options to purchase shares of Common Stock issued to officers, employees or directors of, or consultants or advisors to, the Corporation, pursuant to any agreement, plan or arrangement approved by the Board of Directors of the Corporation; provided, however, that the maximum number of shares of Common Stock heretofore or hereafter issued or issuable pursuant to all such agreements, plans and arrangements shall not exceed in the aggregate the number of shares constituting the Fully-Diluted Option Pool (as defined in the Certificate of Incorporation).

 

(ii)                                  Common Stock issued as a stock dividend or upon any stock split or other subdivision or combination of shares of Common Stock;

 

(iii)                               Common Stock issued upon conversion of any shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock or Series J Preferred Stock;

 

(iv)                              any securities issued pursuant to a merger, consolidation, acquisition or similar business combination or a joint venture, corporate partnering, strategic alliance or other similar arrangement (including without limitation, a licensing arrangement); or

 

(v)                                 Common Stock issued in connection with a public offering.

 

(g)                                  Notwithstanding the foregoing provisions of this Section 2, the rights of the Majority Investors and the obligations of the Corporation under this Section 2 shall terminate as to all Majority Investors upon the consummation of a Designated Offering.

 

(h)                                 By execution of this Agreement, the Stockholders hereby waive any and all rights of first offer to purchase any and all shares of Series I Preferred Stock and Series J Preferred Stock issued and sold by the Corporation, whether under the terms of that certain Series I Conversion Agreement or that certain Series J Purchase Agreement dated as of the date of this Agreement or otherwise, at any closing to be held for the sale of such securities.  This waiver also extends to any and all of the shares of Common Stock issuable upon conversion of such shares of Series I Preferred Stock or Series J Preferred Stock and to any notice period required in connection with such right of first offer.

 

SECTION 3.                            Right of First Refusal.  The Corporation, the Founders and the Series D Investors shall be entitled to the following right of first refusal, except with respect to Permitted Transfers in connection with which there shall be no right of first refusal:

 

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(a)                                 Transfer of Shares.  An Investor (including Dr. John R. Jenkins but other than a Principal Stockholder) shall not transfer (each, a “Non-Principal Transferring Stockholder”) and each Principal Stockholder shall not transfer (each, a “Principal Transferring Stockholder” and together with the Non-Principal Transferring Stockholders, the “Transferring Stockholders”) any or all of the Shares or any right or interest therein then owned by him (each, a “Shares Transfer”) except by a Transfer that meets the requirements of this Section 3 and of this Agreement generally.  If a Transferring Stockholder proposes to effect a Shares Transfer, whether voluntarily or involuntarily, then at least sixty (60) days prior to any Shares Transfer, each Non-Principal Transferring Stockholder shall give notice to the Corporation and the Founders and each Principal Transferring Stockholder shall give notice to the Corporation, the Founders and the Series D Investors of his intention to effect the Shares Transfer (in each case, the “TS Notice”).  The TS Notice shall set forth (i) the number, class and series of shares to be sold by the Transferring Stockholder (the “Sale Shares”), (ii) the date or proposed date of the Shares Transfer and the name and address of the proposed transferee, (iii) the principal terms of the Shares Transfer, including the cash or other property or consideration to be received upon such Shares Transfer, and (iv) the percentage which the number of Sale Shares constitutes with respect to the aggregate number of Shares then held by the Transferring Stockholder.  In the case of a proposed Transfer by way of gift or if the nature of the Transfer is such that no readily determinable consideration is to be paid for the Transfer of the Sale Shares, then a bona fide Transfer price for purposes of this Section 3(a) shall be determined by the Board of Directors of the Corporation promptly upon the Corporation’s receipt of, and as of the date of, the TS Notice (the “Board Price”).

 

(b)                                 Corporation’s Option.  The Corporation shall have the option, but not the obligation, to purchase any or all of the Sale Shares on the same terms as specified in the TS Notice.  Within fifteen (15) days after the receipt of the TS Notice, the Corporation shall give written notice to the Transferring Stockholder, the Founders and, in the case of a Principal Transferring Stockholder, to the Series D Investors (the “Corporation Notice”) stating whether or not it elects to exercise its option to purchase, the number of Sale Shares, if any, it elects to purchase, a date and time for consummation of the purchase not more than fifteen (15) days after the receipt of the Corporation Notice by the Transferring Stockholder, and any Board Price determined pursuant to Section 3(a).  Failure by the Corporation to give such notice within such time period shall be deemed an election by it not to exercise its option.  Within five (5) days following the receipt of the Corporation Notice, the Transferring Stockholder shall have the right to rescind the TS Notice and the proposed Transfer if the Board Price is deemed to be unacceptable, as determined in the sole discretion of the Transferring Stockholder.  The Transferring Stockholder shall not be entitled to vote, either as a stockholder or a director (if applicable), in connection with the decision of the Corporation whether to exercise its option to purchase the Sale Shares, provided that, if his vote is required for valid corporate action, then he shall vote in accordance with the decision of the majority of the other directors or stockholders, as the case may be.

 

(c)                                  Founders’ Option.  If the Corporation fails to exercise its right to purchase under Section 3(b) hereof, or exercises its right to purchase for less than all of the Sale Shares and the Transferring Stockholder has not rescinded the TS Notice as described in Section 3(b) hereof, then the Founders shall each have the option, but not the obligation, to purchase up to their pro  rata share of all of the remaining Sale Shares on the same terms as specified in the TS

 

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Notice.  Each Founder’s pro  rata portion of such remaining Sale Shares will be equal to the total number of shares of Common Stock held by such Founder as a percentage of the total number of shares of Common Stock held by all Founders (assuming in each case the conversion or exchange of all securities held by the Founders that are convertible into or exchangeable for Common Stock). Not later than fifteen (15) days after the Founders receive the Corporation Notice, each Founder shall give written notice to the Transferring Stockholder, the Corporation and, in the case of a Principal Transferring Stockholder, to the Series D Investors (the “Founders Notice”) stating whether or not he elects to exercise his option to purchase, the number of Sale Shares, if any, he elects to purchase, and a date and time for consummation of the purchase not more than fifteen (15) days after the receipt of the Founders Notice by the Transferring Stockholder.  Failure by a Founder to give such notice within such time period shall be deemed an election by him not to exercise his option. If a Founder elects not to purchase all of his pro  rata share of the remaining Sale Shares, then the other Founders shall have the right to purchase any or all such unsubscribed Sale Shares (“Unsubscribed Sale Shares”).  To purchase any Unsubscribed Sale Shares, the Founder must have specified in his Founders Notice that he wished to exercise his right to purchase more (specifying the number of shares) than his pro  rata share of the Sale Shares (a “Founder Oversubscription Right”).  If not enough Sale Shares remain to satisfy all properly exercised Founder Oversubscription Rights, then the Unsubscribed Sale Shares shall be sold to and purchased by Founders exercising Founder Oversubscription Rights pro  rata.  For these purposes, a Founder’s pro rata share will be equal to the total number of shares of Common Stock held by such Founder as a percentage of the total number of shares of Common Stock held by all Founders exercising Founder Oversubscription Rights (assuming in each case the issuance of all shares of Common Stock issuable upon the conversion or exchange of all securities convertible into or exchangeable for Common Stock held by the Founders exercising Founder Oversubscription Rights).  Subject to Section 3(d) in the case of Principal Transferring Stockholders, if the Corporation and the Founders do not purchase all the Sale Shares (including any Unsubscribed Sale Shares), then the Transferring Stockholder shall thereafter, for a period of ninety (90) days, be free to transfer all the Sale Shares on the terms provided in the TS Notice (subject to the provisions of Section 5); provided, however, that the Sale Shares shall continue to be subject to the terms of this Agreement and any such transferee shall agree in writing to be bound by the obligations imposed upon Stockholders under this Agreement as if such transferee were originally a signatory to this Agreement.

 

(d)                                 Series D Option.  If, in the case of a Principal Transferring Stockholder, (i) the Corporation fails to exercise its right to purchase under Section 3(b) hereof, or exercises its rights to purchase for less than all of the Sale Shares, (ii) the Founders fail to exercise their right to purchase under Section 3(c) hereof, or exercise their right to purchase for less than all of the Sale Shares and (iii) the Principal Transferring Shareholder has not rescinded the TS Notice as described in Section 3(b) hereof, then the Series D Investors shall each have the option, but not the obligation, to purchase up to their pro  rata share of all of the remaining Sale Shares on the same terms as specified in the TS Notice.  Each Series D Investor’s pro  rata portion of such remaining Sale Shares will be equal to the total number of shares of Common Stock held by such Series D Investor as a percentage of the total number of shares of Common Stock held by all Series D Investors (assuming in each case the conversion or exchange of all securities held by the Series D Investors are convertible or exchangeable into Common Stock).  Not later than fifteen (15) days after the Series D Investors receive the Founders Notice, each Series D Investor 

 

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shall give written notice to the Principal Transferring Stockholder and the Corporation (the “Series D Notice”) stating whether or not he elects to exercise his option to purchase, the number of Sale Shares, if any, he elects to purchase, and a date and time for consummation of the purchase not more than fifteen (15) days after the receipt of the Series D Notice by the Transferring Stockholder.  Failure by a Series D Investor to give such notice within such time period shall be deemed an election by him not to exercise his option. If a Series D Investor elects not to purchase all of his pro  rata share of the remaining Sale Shares, then the other Series D Investors shall have the right to purchase any or all Unsubscribed Sale Shares.  To purchase any Unsubscribed Sale Shares, the Series D Investor must have specified in his Series D Notice that he wished to exercise his right to purchase more (specifying the number of shares) than his pro  rata share of the Sale Shares (a “Series D Oversubscription Right”).  If not enough Sale Shares remain to satisfy all properly exercised Series D Oversubscription Rights, then the Unsubscribed Sale Shares shall be sold to and purchased by Series D Investors exercising Series D Oversubscription Rights pro  rata.  For these purposes, a Series D Investor’s pro rata share will be equal to the total number of shares of Common Stock held by such Series D Investor as a percentage of the total number of shares of Common Stock held by all Series D Investors exercising Series D Oversubscription Rights (assuming in each case the issuance of all shares of Common Stock issuable upon the conversion or exchange of all securities convertible into or exchangeable for Common Stock held by the Series D Investors exercising Series D Oversubscription Rights).  If the Corporation, the Founders and the Series D Investors do not purchase all the Sale Shares (including any Unsubscribed Sale Shares), then the Transferring Stockholder shall thereafter, for a period of ninety (90) days be free to transfer all the Sale Shares on the terms provided in the TS Notice (subject to the provisions of Sections 4 and 5); provided, however, that the Sale Shares shall continue to be subject to the terms of this Agreement and any such transferee shall agree in writing to be bound by the obligations imposed upon Stockholders under this Agreement as if such transferee were originally a signatory to this Agreement.

 

(e)                                  Definitions.  For purposes of this Agreement, the term “Permitted Transfer” shall mean a Shares Transfer (i) to an Affiliate of a Transferring Stockholder or pursuant to a merger, consolidation, acquisition or similar business combination or similar business arrangement of the Transferring Stockholder, (ii) to a spouse (other than pursuant to any divorce or separation proceedings or settlement), parents, brother, sister, children (natural or adopted), stepchildren or grandchildren or a trust for any of their benefit in the case of a Transferring Stockholder that is a natural person (individually, a “Family Member” and collectively, the “Family Members”), (iii) pursuant to an effective registration statement under the Securities Act; (iv) that, after giving effect to all such prior Shares Transfers by such Transferring Stockholder (and its, his or her transferee or predecessor-in-interest, if any) (other than those specified in the foregoing clauses (i), (ii) and (iii)), does not result in such Transferring Stockholder’s transferring Shares representing in the aggregate more than ten percent (10%) of the Shares that such Transferring Stockholder owned on the date of this Agreement; (v) resulting from a Significant Investor’s (as defined below) exercise of its co-sale rights under Section 4 hereof; or (vi) to an equity owner or liquidating trustee of a Transferring Stockholder upon the liquidation or winding up of the Transferring Stockholder (each recipient being a “Permitted Transferee”); provided, however, that for the sake of clarity, it is hereby confirmed that Ventureast Life Fund III, an entity organized under the laws of India and represented by its fund manager, APIDC Venture Capital Private Limited, shall be entitled to reallocate its holdings of Series H Preferred Stock between itself and Ventureast Life Fund III 

 

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LLC, an entity organized under the laws of Mauritius, in such proportion as shall be determined by the former, and such reallocation shall be deemed to be a Permitted Transfer hereunder; and provided, however, that prior to such Permitted Transfer, such Permitted Transferee shall agree in writing to be bound by the obligations imposed upon Stockholders under this Agreement as if such transferee were originally a signatory to this Agreement.

 

(f)                                   Application of Provisions.  In each case, any Sale Shares not purchased by the proposed transferee in accordance with Section 3(d) hereof may not be sold or otherwise disposed of until they are again offered to the Corporation and the Founders, and to the Series D Investors, if appropriate, under the procedures specified herein.

 

(g)                                  Transfers Void.  Any attempted Transfer in violation of the terms of this Section 3 shall be ineffective to vest in any transferee any interest held by the Transferring Stockholder in the Sale Shares.  Without limiting the foregoing, any purported Shares Transfer in violation hereof shall be ineffective as against the Corporation and the Founders, and the Series D Investors, if appropriate, and the Corporation and the Founders, and the Series D Investors, if appropriate, shall have a continuing right and option (but not an obligation), until the restrictions contained in this Section 3 terminate, to purchase the Sale Shares purported to be transferred by the Transferring Stockholders for a price and on terms the same as those at which the purported Shares Transfer was effected.

 

(h)                                 Termination of Restrictions.  The restrictions in this Section 3 shall terminate upon the consummation of a Designated Offering.

 

(i)                                     Founder/Investor.  Notwithstanding the foregoing, a Founder who is also an Investor shall have no right to purchase Sale Shares with respect to any Shares Transfer for which he is the Transferring Stockholder.  Such Founder and Investor shall, however, deliver the TS Notice and otherwise comply with this Section 3.

 

SECTION 4.                            Rights of Co-Sale.  Each Series B Investor that, together with any Affiliates, owns not less than 5% of the then issued and outstanding Series B Preferred Stock (each a “Significant Series B Investor” and, collectively, the “Significant Series B Investors”), each Series C Investor that, together with any Affiliates, owns not less than 5% of the then issued and outstanding Series C Preferred Stock (each a “Significant Series C Investor” and collectively, the “Significant Series C Investors”), each Series D Investor that, together with any Affiliates, owns not less than 5% of the then issued and outstanding Series D Preferred Stock (each a “Significant Series D Investor” and, collectively, the “Significant Series D Investors”), each Series E Investor that, together with any Affiliates, owns not less than 5% of the then issued and outstanding Series E Preferred Stock (each a “Significant Series E Investor,” collectively, the “Significant Series E Investors”), each Series F Investor that, together with any Affiliates, owns not less than 5% of the then issued and outstanding Series F Preferred Stock (each a “Significant Series F Investor,” collectively, the “Significant Series F Investors”), each Series G Investor that, together with any Affiliates, owns not less than 5% of the then issued and outstanding Series G Preferred Stock (each a “Significant Series G Investor,” collectively, the “Significant Series G Investors”), each Series H Investor that, together with any Affiliates, owns not less than 5% of the then issued and outstanding Series H Preferred Stock (each a “Significant Series H Investor,” collectively, the “Significant Series H Investors”), each Series I Investor that,

 

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together with any Affiliates, owns not less than 5% of the then issued and outstanding Series I Preferred Stock (each a “Significant Series I Investor,” collectively, the “Significant Series I Investors”), and each Series J Investor that, together with any Affiliates, owns not less than 5% of the then issued and outstanding Series J Preferred Stock (each a “Significant Series J Investor,” collectively, the “Significant Series J Investors” and, together with the Significant Series B Investors, Significant Series C Investors, Significant Series D Investors, Significant Series E Investors, Significant Series F Investors, Significant Series G Investors, Significant Series H Investors and Significant Series I Investors, the “Significant Investors”) shall be entitled to the following co-sale rights, except with respect to Excluded Transfers (defined below) in connection with which there shall be no co-sale rights:

 

(a)                                 Transfer of Shares.  A Founder shall not Transfer (each, a “Transferring Founder”) any or all of the Shares or any right or interest therein then owned by him (each, a “Founder Shares Transfer”) except by a Transfer that meets the requirements of this Section 4 and of this Agreement generally.  If a Transferring Founder proposes to effect a Founder Shares Transfer, whether voluntarily or involuntarily, then at least sixty (60) days prior to any Founder Shares Transfer, such Transferring Founder shall deliver the TS Notice in accordance with Section 3 above and shall also deliver the TS Notice to the Significant Investors notifying them of his intention to effect the Founder Shares Transfer.

 

(b)                                 Exercise of Co-Sale Rights.  To the extent that the Corporation, the other Founders and the Series D Investors fail to exercise their right of first refusal under Section 3 hereof, then a Significant Investor may exercise its co-sale rights under this Section 4 by delivery of a written notice (the “Co-Sale Notice”) to the Transferring Founder within fifteen (15) days of the date of Founder’s sending the TS Notice.  The Co-Sale Notice shall state the number of Shares that the Significant Investor proposes to include in the proposed sale, up to its Significant Investor’s Share (as defined below).  If a Significant Investor entitled to participate in such sale delivers a Co-Sale Notice, such Significant Investor shall be obligated to sell that number of Shares specified in the Co-Sale Notice upon the same terms and conditions as the Transferring Founder is selling, conditioned upon and contemporaneously with completion of the Transferring Founder’s sale of his Founder Sale Shares (except as provided in Section 4(d)).  The number of Founder Sale Shares that the Founder may actually Transfer to the proposed transferee (after the application of this Section 4) shall be reduced by the number of Significant Investors’ Shares that the proposed transferee purchases pursuant to this Section 4(b).  If no Co-Sale Notice is received within the 15-day period referred to above, the Transferring Founder shall have the right for a one hundred twenty (120)-day period to effect the proposed sale of the Founder Sale Shares on terms and conditions set forth in the Founder Notice and in accordance with the provisions of this Section 4; provided, however, that the Shares shall continue to be subject to the terms of this Agreement and any such transferee shall agree in writing to be bound by the obligations imposed upon the Stockholders under this Agreement as if such transferee were originally a signatory to this Agreement.  “Significant Investor’s Share” means the Shares owned by the Significant Investor multiplied by the percentage determined by dividing (A) the number of shares of Common Stock held by such Significant Investor (assuming conversion of the shares of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and/or Series J Preferred Stock, as applicable, into Common Stock), by (B) the number of shares of Common Stock held by the Transferring Founder and all Significant Investors 

 

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participating in the co-sale right (assuming conversion of the shares of Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series H Preferred Stock, Series I Preferred Stock and Series J Preferred Stock into Common Stock).

 

(c)                                  Excluded Transfers.  Notwithstanding anything herein to the contrary, a Transferring Founder may make any of the following Founder Shares Transfers without offering the Significant Investors the opportunity to participate (collectively, the “Excluded Transfers”): (i) Founder Shares Transfers to any Family Member or to a corporation, partnership, limited liability company or other entity that is controlled by the Transferring Founder and/or his Family Members, provided that such Family Member or entity agrees in writing to be bound by the provisions of this Agreement; (ii) Founder Shares Transfers to another Founder; (iii) Founder Shares Transfers pursuant to an effective registration statement under the Securities Act; (iv) Founder Shares Transfers that, after giving effect to all such prior Transfers by such Founder (and his or her transferee or predecessor-in-interest, if any) (other than those specified in the foregoing clauses (i), (ii) and (iii)), do not result in the Transferring Founder’s transferring Shares representing in the aggregate more than ten percent (10%) of the Shares that such Transferring Founder owned on the date of this Agreement; or (v) shares transferred to the Corporation, the other Founders and/or the Series D Investors pursuant to their respective rights of first refusal under Section 3 hereof.

 

(d)                                 Prohibited Transfers.  If a Transferring Founder subject to this Section 4 Transfers any Founder Sale Shares in contravention of this Section 4 (a “Prohibited Transfer”), any Significant Investor may, by delivery of written notice to such Transferring Founder (a “Put Notice”) within ten (10) days after the later of (i) the closing of such Prohibited Transfer, and (ii) the date on which such Significant Investor becomes aware of the Prohibited Transfer or the terms thereof, require the Transferring Founder to purchase from such Significant Investor, for cash and on the same terms, the number of Shares which such Significant Investor would have been entitled to sell (or such lesser amount requested by the Significant Investor) had the Transferring Founder complied with the provisions of this Section 4 at a per share price equal to the per share fair market value of the consideration received by the Transferring Founder in the Prohibited Transfer on the date of the closing of the Prohibited Transfer.  The closing of such Transfer to such Transferring Founder will occur within ten (10) days after the date of such Significant Investor’s Put Notice to such Transferring Founder.

 

(e)                                  Notwithstanding the foregoing, the right of first refusal provided for in Section 3 and the co-sale right provided for in Section 4 shall be mutually exclusive and any Significant Investor that elects to exercise its rights with respect to any proposed Shares Transfer under either of such Sections shall not be entitled to exercise its rights, if any, under the other such Section with respect to such proposed sale.

 

(f)                                   Termination.  The co-sale rights arising under this Section 4 shall terminate upon the consummation of a Designated Offering.

 

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SECTION 5.                            Transfer of Securities; Registration Rights.

 

(a)                                 Restriction on Transfer.  The Shares shall not be transferable except upon the conditions specified in this Section 5, which conditions are intended to ensure compliance with the provisions of the Securities Act and applicable state securities laws in respect of the Transfer thereof.

 

(b)                                 Restrictive Legend.  Each certificate for the Shares and each certificate for any such securities issued to subsequent transferees of any such certificate shall (unless otherwise permitted by the provisions of Section 5(c)) be stamped or otherwise imprinted with substantially the following legend:

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAW. THESE SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SAID ACT.  ADDITIONALLY, THE TRANSFER OF THESE SECURITIES IS SUBJECT TO THE CONDITIONS SPECIFIED IN THE EIGHTH AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT DATED AS OF JULY 27, 2012, AMONG ONCONOVA THERAPEUTICS, INC. AND CERTAIN OTHER SIGNATORIES THERETO (AS THE SAME MAY BE AMENDED AND/OR RESTATED FROM TIME TO TIME) AND NO TRANSFER OF THESE SECURITIES SHALL BE VALID OR EFFECTIVE UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED.  UPON THE FULFILLMENT OF CERTAIN OF SUCH CONDITIONS, ONCONOVA THERAPEUTICS, INC. HAS AGREED TO DELIVER TO THE HOLDER HEREOF A NEW CERTIFICATE, NOT BEARING THIS LEGEND, FOR THE SECURITIES REPRESENTED HEREBY REGISTERED IN THE NAME OF THE HOLDER HEREOF. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE SECRETARY OF ONCONOVA THERAPEUTICS, INC.”

 

In addition, the certificate may be stamped with such legends as the Corporation’s counsel may deem advisable in light of applicable state securities laws.

 

(c)                                  Notice of Transfer.  The holder of any Shares, by acceptance thereof agrees, prior to any Transfer thereof, to give written notice to the Corporation of such holder’s intention to effect such Transfer and to comply in all other respects with the provisions of this Section 5(c) and the other applicable provisions of this Agreement.  Each such notice shall describe the manner and circumstances of the proposed Transfer and shall be accompanied by 

 

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(i) the written opinion, addressed to the Corporation, of counsel for the holder of such Shares, as to whether in the opinion of such counsel (which counsel and opinion shall be reasonably satisfactory to counsel to the Corporation) such proposed Transfer involves a transaction requiring registration of such shares under the Securities Act, and (ii) in the case of Registrable Securities, if in the opinion of such counsel such registration is required, a written request addressed to the Corporation by the Holder of Registrable Securities, describing in detail the proposed method of disposition and requesting the Corporation to effect the registration of such Registrable Securities pursuant to the terms and conditions of Sections 5(d), 5(e) or 5(f), as the case may be; provided, however, that no such opinion shall be required in the case of a Transfer by any Holder of Registrable Securities (A) which is a (1) partnership or limited liability company to a partner or member of such Holder, or a retired partner or member of such Holder who retires after the date hereof, or the estate of any such partner or member or retired partner or member, if the transferee agrees in writing to be subject to the terms of this Section 5 to the same extent as if such transferee were originally a signatory to this Agreement, or (2) corporation to any Affiliate of such corporation, including without limitation, any officer, director or controlling stockholder of such corporation, or (B) in connection with a transaction complying with the requirements of Rule 144 (as amended from time to time) promulgated under the Securities Act (or successor rule thereto). If in such opinion of counsel the proposed Transfer may be effected without registration under the Securities Act, the holder shall thereupon be entitled to Transfer the Shares in accordance with the terms of the notice delivered by it to the Corporation, subject to the other requirements of this Agreement. Each certificate or other instrument evidencing the securities issued upon the Transfer of any Shares (and each certificate or other instrument evidencing any untransferred balance of such securities) shall bear the legend set forth in Section 5(b) unless (x) in such opinion of counsel registration of future Transfer is not required by the applicable provisions of the Securities Act or (y) the Corporation shall have waived the requirement of such legend; provided, however, that such legend shall not be required (1) on any certificate or other instrument evidencing the securities issued upon such Transfer in the event such Transfer shall be made in compliance with the requirements of Rule 144 (as amended from time to time) promulgated under the Securities Act (or successor rule thereto) or (2) on any certificate or other instrument which is immediately resalable without restrictions (whether or not such resale is proposed) under Rule 144 or successor thereto.  Notwithstanding the foregoing, as a condition to any Transfer of Shares, the transferee must agree to be bound by the terms hereof as if it were a signatory hereto, and the shares held by such transferee shall constitute Shares hereunder.

 

(d)                                 Piggyback Registrations.

 

(i)                                     The Corporation shall notify all Holders of Registrable Securities in writing at least thirty (30) days prior to filing any registration statement under the Securities Act for purposes of effecting a public offering of securities of the Corporation (including, but not limited to, registration statements relating to secondary offerings of securities of the Corporation, but excluding registration statements on an Excluded Form or relating to any employee benefit plan or a corporate reorganization) and shall afford each such Holder an opportunity to include in such registration statement all or any part of the Registrable Securities then held by such Holder.  Each Holder desiring to include in any such registration statement all or any part of the Registrable Securities held by such Holder shall, within fourteen (14) days after receipt of the above-described notice 

 

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from the Corporation, so notify the Corporation in writing, and in such notice shall inform the Corporation of the number of Registrable Securities such Holder wishes to include in such registration statement. If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Corporation, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Corporation with respect to offerings of its securities, all upon the terms and conditions set forth herein.

 

(ii)                                  If the registration statement under which the Corporation gives notice under this Section 5(d) is for an underwritten offering, the Corporation shall so advise the Holders of Registrable Securities.  In such event, the right of any such Holder’s Registrable Securities to be included in a registration pursuant to this Section 5(d) shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein.  All Holders proposing to distribute their Registrable Securities through such underwriting shall enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for such underwriting by the Corporation. Notwithstanding any other provision of this Agreement, if the managing underwriter(s) determine(s) in good faith that marketing factors require a limitation of the number of shares to be underwritten, the number of shares that may be included in said underwriting shall be allocated, first, to the Corporation, and second, to each of the Holders requesting inclusion of their Registrable Securities in such registration statement on a pro  rata basis based on the total number of Registrable Securities held by each such Holder; provided, however, that the right of the underwriters to exclude Registrable Securities from the registration and underwriting as described above shall be restricted so that the number of Registrable Securities included in any such registration is not reduced below twenty percent (20%) of the shares included in the registration, except for a registration relating to the Corporation’s initial public offering from which all Registrable Securities may be excluded.  In the event that underwriters exclude Registrable Securities from the registration and underwriting as described above, the Corporation shall use its commercially reasonable efforts to cause the underwriters to furnish a certificate indicating the reasons for such exclusion.  If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Corporation and the underwriter, delivered at least five (5) business days prior to the effective date of the registration statement.  Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration.

 

(iii)                               All registration expenses incurred in connection with a registration pursuant to this Section 5(d) (other than underwriters’ discounts and commissions which shall be borne proportionately by Holders participating in a registration pursuant to this Section 5(d) on the basis of the number of the shares so registered) shall be borne by the Corporation.

 

(e)                                  Form S-3 Registration.  In case the Corporation receives from the Demand Holders a written request or requests that the Corporation effect a registration on Form S-3 with 

 

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respect to all or part of the Registrable Securities owned by such Demand Holders, then the Corporation shall:

 

(i)                                     Promptly give written notice of the proposed registration and the Demand Holders request therefor to all Holders of Registrable Securities; and

 

(ii)                                  As soon as practicable effect such registration; provided, however, that the Corporation shall not be obligated to effect any such registration, qualification or compliance pursuant to this Section 5(e):  (A) if Form S-3 is not available for such offering by the Holders; (B) if the Holders propose to sell Registrable Securities at an aggregate gross offering price to the public of less than $500,000.00; (C) if the Corporation has, within the six (6)-month period preceding the date of such request, already effected one registration on Form S-3 for the Holders pursuant to this Section 5(e); (D) if the Corporation furnishes to the Holders of Registrable Securities a certificate signed by the President or Chief Executive Officer of the Corporation stating that (1) the Corporation is planning to file a registration statement in connection with an underwritten public offering within 120 days of such request for registration, or (2) in the good faith judgment of the Board of Directors of the Corporation, it would be detrimental to the Corporation and its stockholders for such Form S-3 registration statement to be filed at such time, in which event the Corporation shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than 120 days after receipt of the request of the holders of Registrable Securities under this Section 5(e); provided, however, that the Company may not utilize this right more than once in any twelve (12)-month period; or (E) in any particular jurisdiction in which the Corporation would be required to qualify to do business or to execute a general consent to service of process in order to effect such registration in compliance with all applicable laws.

 

(iii)                               Subject to the foregoing, the Corporation shall file a Form S-3 registration statement covering the Registrable Securities to be registered pursuant to this Section 5(e) as soon as practicable after receipt of the request or requests of the requisite Holders for such registration.  All registration expenses incurred in connection with a registration pursuant to this Section 5(e) (other than underwriters’ discounts and commissions which shall be borne proportionately by Holders participating in a registration pursuant to this Section 5(e)) shall be borne by the Corporation.

 

(f)                                   Demand Registration.

 

(i)                                     If the Corporation receives at any time after six (6) months following the effective date of the Corporation’s initial public offering, a written request from the Demand Holders of at least twenty-five percent (25%) of the Registrable Securities then outstanding that the Corporation file a registration statement under the Securities Act covering the registration of the Registrable Securities, then the Corporation shall, within ten (10) business days after the receipt thereof, give written notice of such request to all Demand Holders, and effect, as soon as practicable, the registration under the Securities Act of all Registrable Securities which the Demand Holders request to be registered and included in such registration, subject only to the limitations of this Section 5(f);

 

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(ii)                                  If the Demand Holders initiating the registration request under this Section 5(f) (“Initiating Holders”) intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Corporation as a part of their request made pursuant to this Section 5(f) and the Corporation shall include such information in the written notice referred to in Section 5(f)(i) hereof.  In such event, the right of any Demand Holder to include such Demand Holder’s Registrable Securities in such registration shall be conditioned upon such Demand Holder’s participation in such underwriting and the inclusion of such Demand Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Demand Holder) to the extent provided herein.  All Demand Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for such underwriting by the Corporation.  Notwithstanding any other provision of this Section 5(f), if the underwriter(s) advise(s) the Corporation in writing that marketing factors require a limitation of the number of securities to be underwritten, then the Corporation shall also advise all Demand Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be reduced as required by the underwriter(s) and allocated among the Demand Holders of Registrable Securities on a pro rata basis according to the number of Registrable Securities then outstanding held by each Demand Holder requesting registration (including the Initiating Holders); provided, however, that the number of shares of Registrable Securities to be included in such underwriting and registration shall not be reduced unless all other securities of the Corporation and other stockholders are first entirely excluded from the underwriting and registration.  Any Registrable Securities excluded and withdrawn from such underwriting shall be withdrawn from the registration.

 

(iii)                               The Corporation is obligated to effect only two (2) such registrations pursuant to this Section 5(f).

 

(iv)                              Notwithstanding the foregoing, if the Corporation furnishes to Demand Holders requesting the filing of a registration statement pursuant to this Section 5(f) a certificate signed by the President or Chief Executive Officer of the Corporation stating that in the good faith judgment of the Board of Directors of the Corporation, it would be seriously detrimental to the Corporation and its stockholders for such registration statement to be filed and it is therefore essential to defer the filing of such registration statement, then the Corporation shall have the right to defer such filing for a period of not more than one hundred and twenty (120) days after receipt of the request of the Initiating Holders; provided, however, that the Corporation may not utilize this right more than once in any twelve (12) month period.

 

(v)                                 All expenses incurred in connection with a registration pursuant to this Section 5(f), including without limitation, all federal and “blue sky” registration and qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Corporation, and of one counsel for the participating Demand Holders (but excluding underwriters’ discounts and commissions), shall be borne by the Corporation.  Each Holder participating in a registration pursuant to this Section 5(f) shall bear its

 

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proportionate share of all discounts, commissions or other amounts payable to underwriters or brokers in connection with such offering.  Notwithstanding the foregoing, the Corporation shall not be required to pay for any expenses of any registration proceeding begun pursuant to this Section 5(f) if the registration request is subsequently withdrawn at the request of the Demand Holders of a majority of the Registrable Securities to be registered; provided, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects of the Corporation not known to the Demand Holders at the time of their request for such registration and have withdrawn their request for registration with reasonable promptness after learning of such material adverse change, then the Demand Holders shall not be required to pay any of such expenses and shall retain their rights pursuant to this Section 5(f).

 

(g)                                  Obligations of the Corporation.  Whenever required to effect the registration of any Registrable Securities under this Agreement, the Corporation shall, as expeditiously as reasonably possible:

 

(i)                                     Prepare and file with the Commission a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become and remain effective.

 

(ii)                                  Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement and to keep such registration statement effective, in the case of a firm commitment underwriting, until each underwriter has completed the distribution of all securities purchased by it and, in the case of any other offering, until the earlier of the sale of all Registrable Securities covered thereby or one hundred eighty (180) days after the effective date thereof; provided, however, that such 180-day period shall be extended for a period of time equal to the period the Holder refrains from selling any Registrable Securities included in such registration at the request of an underwriter of the Common Stock or if the Corporation has provided the notice described in subparagraph (vii) below.

 

(iii)                               Furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of the Registrable Securities owned by them that are included in such registration.

 

(iv)                              Use its best efforts to register and qualify the securities covered by such registration statement under such other securities or blue sky laws of such jurisdictions as shall be reasonably requested by the Holders, provided, that the Corporation shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions.

 

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(v)                                 Use its best efforts to list the securities covered by such registration statement with the securities exchange, if any, on which the Common Stock is then listed.

 

(vi)                              In the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter(s) of such offering.  Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement.

 

(vii)                           Notify each Holder of Registrable Securities and each underwriter under such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing.

 

(h)                                 Furnish Information.  It shall be a condition precedent to the obligations of the Corporation to take any action pursuant to Sections 5(d), 5(e), and 5(f) that the selling Holders shall furnish to the Corporation such information regarding themselves, the Registrable Securities held by them, and the intended method of disposition of such securities as shall be required to effect the registration of their Registrable Securities.

 

(i)                                     Indemnification.  In the event any Registrable Securities are included in a registration statement under Sections 5(d), 5(e) or 5(f):

 

(i)                                     To the extent permitted by law, the Corporation shall indemnify and hold harmless each Holder, the partners, officers and directors of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act (collectively, “Indemnified Persons”), against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively, a “Violation”):

 

(A)                               any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto,

 

(B)                               the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or

 

(C)                               any violation or alleged violation by the Corporation of the Securities Act, the Exchange Act, any federal or state securities law or any rule or

 

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regulation promulgated under the Securities Act, the Exchange Act or any federal or state securities law in connection with the offering covered by such registration statement,

 

and the Corporation shall reimburse each such Indemnified Person for any legal or other expenses reasonably incurred by it, as incurred, in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 5(i) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Corporation (which consent shall not be unreasonably withheld), nor shall the Corporation be liable in any case for any such loss, claim, damage, liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by an Indemnified Person.

 

(ii)                                  To the extent permitted by law, each selling Holder shall indemnify and hold harmless the Corporation, each of its directors and officers who have signed the registration statement, each Person, if any, who controls the Corporation within the meaning of the Securities Act, any underwriter and any other Holder selling securities under such registration statement or any of such other Holder’s partners, directors or officers or any Person who controls such Holder within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages or liabilities (joint or several) to which the Corporation or any such Person may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder shall reimburse any legal or other expenses reasonably incurred by the Corporation or any such Person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 5(i) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld.

 

(iii)                               Promptly after receipt by an indemnified party under this Section 5(i) of notice of the commencement of any action (including any governmental action), such indemnified party shall, if a claim in respect thereof is to be made against any indemnifying party under this Section 5(i), deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within

 

24

 

a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 5(i), but the omission so to deliver written notice to the indemnifying party shall not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 5(i).

 

(iv)                              If the indemnification provided for in Section 5(i) is unavailable to a party entitled to indemnification in respect of any losses referred to herein, then each indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the aggregate losses as is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, as well as any other relevant equitable considerations.  The relative fault of such indemnifying party and indemnified parties shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made by, or relates to information supplied by, such indemnifying party or indemnified parties, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action; provided, however, that, in any such case, (1) no Holder shall be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement; and (2) no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.

 

(v)                                 The obligations of the Corporation and Holders under this Section 5(i) shall survive the completion of any offering of Registrable Securities in a registration statement, and the termination of this Agreement.

 

(j)                                    “Market Stand-Off” Agreement.  Each Holder hereby agrees that it shall not, to the extent requested by the Corporation and an underwriter of Common Stock of the Corporation, sell or otherwise Transfer any Registrable Securities (other than Registrable Securities being registered in such offering) for up to that period of time following the effective date of a registration statement of the Corporation filed under the Securities Act as is requested by the managing underwriter(s) of such offering, not to exceed one hundred eighty (180) days; provided, however, that all officers, directors and five percent (5%) or greater stockholders of the Corporation then holding Common Stock of the Corporation shall enter into similar agreements.  In order to enforce the foregoing covenant, the Corporation may impose stop transfer instructions with respect to the then-remaining Registrable Securities of each Holder (and the shares or securities of every other Person subject to the foregoing restriction) until the end of such period.

 

(k)                                 Assignment of Registration Rights.  The rights of a Holder under Sections 5(d), (e) and (f) may be assigned by any Holder in connection with any Transfer by a Holder of Registrable Securities provided that:  (i) such Transfer may otherwise be effected in accordance with applicable securities laws; (ii) such Transfer is effected in compliance with the restrictions on Transfer contained in this Agreement and in any other agreement between the Corporation and the Holder; (iii) notice of such Transfer is given to the Corporation; (iv) such assignee or transferee (a) acquires pursuant to such Transfer not less than 50,000 shares of Registrable

 

25

 

Securities (as adjusted for combinations, stock dividends, subdivisions or split-ups), or (b) such assignee or transferee is an Affiliate or a Family Member of a Holder; and (v) such assignee or transferee agrees in writing with the Corporation to be bound by all of the provisions of this Agreement.

 

SECTION 6.  Duration of Agreement.  Except for those provisions that, by their terms, terminate sooner, all rights and obligations of each Stockholder under this Agreement shall terminate as to such Stockholder upon the earlier of (a) the Transfer in accordance with this Agreement of all Shares held by such Stockholder, or (b) upon written consent of (i) the Stockholders holding at least a majority of the shares of Series A Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (ii) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series B Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (iii) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series C Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (iv) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series D Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (v) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series E Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (vi) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series F Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (vii) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series G Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (viii) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series H Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (ix) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series I Preferred Stock subject to this Agreement (including shares of Common Stock into which converted ), (x) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series J Preferred Stock subject to this Agreement (including shares of Common Stock into which converted) and (xi) the Stockholders holding at least a majority of the shares of Common Stock subject to this Agreement (other than those shares specified in subparagraphs (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix) and (x) above).

 

SECTION 7.  Severability; Governing Law.  If any provisions of this Agreement shall be determined to be illegal and unenforceable by any court of law, the remaining provisions shall be severable and enforceable in accordance with their terms.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof.

 

SECTION 8.  Benefits of Agreement.  This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns, legal representatives and heirs; provided, that, except as otherwise specifically permitted pursuant to this Agreement, neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any party hereto without the prior written consent of the other parties.  This Agreement sets forth the entire agreement and understanding among the parties as to the subject

 

26

 

matter hereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

SECTION 9.  Notices.  All notices, requests, consents and other communications hereunder to any party shall be deemed to be sufficient if contained in a written instrument delivered in person, sent by overnight courier, or duly sent by first class registered or certified mail (or air mail, if to a party not located in North America), return receipt requested, postage prepaid, addressed to such party at the address set forth below or such other address as may hereafter be designated in writing by the addressee to the addressor listing all parties:

 

(a)                                 If to the Corporation, to:

 

Onconova Therapeutics, Inc.
 375 Pheasant Run

Newtown, PA  18940

 

Attention:                                       Dr. Ramesh Kumar

 

with a copy to:

 

Dechert LLP
 902 Carnegie Center
 Suite 500
 Princeton, NJ  08540-6531

 

Attention:                                         James J. Marino, Esq.

 

(b)                                 If to the Stockholders, to the names and addresses set forth on Schedule I.

 

All such notices, advises and communications shall be deemed to have been received (a) in the case of personal delivery or by overnight courier, on the date of such delivery and (b) in the case of mailing, on the third day after the posting thereof.

 

SECTION 10.  Changes.  The terms and provisions of this Agreement may not be modified or amended, or any of the provisions hereof waived (either generally or in a particular instance and either retroactively or prospectively), except pursuant to the written consent of (a) the Corporation, (b) the Stockholders holding at least a majority of the shares of Series A Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (c) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series B Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (d) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series C Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (e) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series D Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (f) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series E Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (g) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series F Preferred Stock subject to this

 

27

 

Agreement (including shares of Common Stock into which converted), (h) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series G Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (i) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series H Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (j) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series I Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), (k) the Stockholders holding at least sixty-six and 67/100 percent (66.67%) of the shares of Series J Preferred Stock subject to this Agreement (including shares of Common Stock into which converted), and (l) the Stockholders holding at least a majority of the shares of Common Stock subject to this Agreement (other than those shares specified in Sections 10(b), (c), (d), (e) (f), (g), (h), (i), (j) and (k) above); provided, however, that any rights that inure specifically to the benefit of the Series A Investors as a group, the Series B Investors as a group, the Series C Investors as a group, the Series D Investors as a group, the Series E Investors as a group, the Series F Investors as a group, the Series G Investors as a group, the Series H Investors as a group, the Series I Investors as a group, the Series J Investors as a group, or the Founders as a group, may be effectively waived by the Stockholders holding at least a majority of the shares of the Series A Preferred Stock subject to this Agreement in the case of the Series A Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of the Series B Preferred Stock subject to this Agreement in the case of the Series B Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of the Series C Preferred Stock subject to this Agreement in the case of the Series C Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of the Series D Preferred Stock subject to this Agreement in the case of Series D Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of Series E Preferred Stock subject to this Agreement in the case of Series E Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of Series F Preferred Stock subject to this Agreement in the case of Series F Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of Series G Preferred Stock subject to this Agreement in the case of Series G Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of Series H Preferred Stock subject to this Agreement in the case of Series H Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of Series I Preferred Stock subject to this Agreement in the case of Series I Investors, at least sixty-six and 67/100 percent (66.67%) of the shares of Series J Preferred Stock subject to this Agreement in the case of Series J Investors and at least a majority of the shares of Common Stock owned by the Founders and subject to this Agreement in the case of the Founders, respectively, without the need for the required vote of any other group.

 

SECTION 11.  Captions.  The captions herein are inserted for convenience only and shall not define, limit, extend or describe the scope of this Agreement or affect the construction hereof.

 

SECTION 12.  Nouns and Pronouns.  Whenever the context may require, any pronouns used herein shall include the corresponding masculine, feminine or neuter forms and the singular form of names and pronouns shall include the plural and vice-versa.

 

SECTION 13.  Merger Provision.  This Agreement (as the same may be amended from time to time) constitutes the entire agreement among the parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements therewith, including

 

28

 

without limitation, the Seventh Amended and Restated Stockholders’ Agreement dated as of September 21, 2010, as amended (the “Original Agreement”), among the Corporation and certain stockholders named therein, which Original Agreement is hereby terminated and no longer of any force or effect.  By execution of this Agreement, the holders of the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series E Preferred Stock, Series F Preferred Stock, Series G Preferred Stock and Series H Preferred Stock hereby waive their rights of first offer and any related notice and/or closing requirements (including without limitation the timing of such closing) required under Section 2 of the Original Agreement with respect to the issuance and sale of the Series I Preferred Stock and the Series J Preferred Stock.

 

SECTION 14.  Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same instrument.

 

SECTION 15.  Board of Directors.

 

(a)                                 The Board of Directors of the Corporation shall consist of ten (10) directors.

 

(b)                                 At each annual meeting of the stockholders of the Corporation, and at each special meeting of the stockholders of the Corporation called for the purpose of electing directors of the Corporation, and at any time at which stockholders of the Corporation shall have the right to, or shall, vote for or consent in writing to the election of directors of the Corporation, then, and in each such event the Stockholders agree that they shall vote all shares owned by them for the election of the Board of Directors in the following manner:

 

(i)                                     The Series H Investors agree to elect directors as set forth in this Section 15(b)(i).  The holders of record of Series H Preferred Stock voting together as a separate class shall elect one (1) director (the “Series H Director”), which Series H Director shall be designated for nomination by VenturEast Life Fund III LLC (“VenturEast”) for so long as VenturEast continues to own, in the aggregate, at least fifty percent (50%) of the Series H Preferred Stock originally purchased from the Corporation under the Series H Purchase Agreement.  In the event VenturEast owns less than fifty percent (50%) of the Series H Preferred Stock originally purchased by them from the Corporation under the Series H Purchase Agreement, then the holders of record of Series H Preferred Stock shall not have the right to elect any Series H Director.

 

(ii)                                  The Series D Investors agree to elect directors as set forth in this Section 15(b)(ii).  The holders of record of Series D Preferred Stock voting together as a separate class shall elect one (1) director (the “Series D Director”), which Series D Director shall be designated for nomination by ICICI Venture Funds Management Company Limited and/or its Affiliates (“ICICI”) for so long as ICICI continues to own, in the aggregate, at least fifty percent (50%) of the Series D Preferred Stock originally purchased by them from the Corporation under the Series D Purchase Agreement.  In the event ICICI owns less than fifty percent (50%) of the Series D Preferred Stock originally purchased by them from the Corporation under the Series D Purchase Agreement, the

 

29

 

holders of Series D Preferred Stock voting together as a separate class shall have the right to elect the Series D Director, who shall be designated for nomination by the holders of record of a majority of the shares of Series D Preferred Stock then outstanding.

 

(iii)                               The Series B Investors agree to elect directors as set forth in this Section 15(b)(iii).  For so long as the Series B Investors continue to own, in the aggregate, more than fifty percent (50%) of the Series B Preferred Stock originally purchased by them from the Corporation under the Series B Purchase Agreement, the holders of record of the Series B Preferred Stock voting together as a separate class shall elect two (2) directors (the “Series B Directors”), one of whom shall be designated for nomination by the Mehta Investors and the other of whom shall be designated for nomination by Cadila Healthcare Limited (“Cadila”).  In the event the Series B Investors own, in the aggregate, no less than twenty five percent (25%) but no more than fifty percent (50%) of the Series B Preferred Stock originally purchased by them from the Corporation under the Series B Purchase Agreement, the holders of record of the Series B Preferred Stock voting together as a separate class shall elect only one (1) Series B Director, who shall be designated for nomination by the following Persons:

 

(A)                               if, at that time, Cadila owns no less than 260,870 shares of Series B Preferred Stock, then by Cadila; and

 

(B)                               in all other cases, by the holders of record of a majority of the shares of Series B Preferred Stock then outstanding and held by the original Series B Investors.

 

In the event the Series B Investors own, in the aggregate, less than twenty-five percent (25%) of the Series B Preferred Stock originally purchased by them from the Corporation under the Series B Purchase Agreement, the holders of record of Series B Preferred Stock shall not have the right to elect any Series B Director.

 

(iv)                              The holders of record of Common Stock and Series A Preferred Stock voting together as a separate class (on an as-converted basis) shall elect the remaining directors (collectively, the “Common Directors”) (and if the holders of Series B Preferred Stock or the holders of Series H Preferred Stock are no longer entitled to elect a Series B Director(s) or the Series H Director, as the case may be, then the holders of record of shares of Common Stock and Series A Preferred Stock voting together as a separate class (on an as-converted basis) shall vote to fill that directorship(s) with a Common Director as well), all of whom shall be designated for nomination by the holders of record of a majority of the shares of Common Stock and Series A Preferred Stock then outstanding (on an as-converted basis).

 

The Corporation agrees that it shall cause its Board of Directors to nominate for election all such nominees so designated by the Stockholders in accordance with subsections (i) through (iv) above.

 

(c)                                  At such time as the holders of Series B Preferred Stock or Series H Preferred Stock are no longer entitled to designate for nomination and elect the Series B

 

30

 

Director(s) or the Series H Director, as the case may be, the Corporation shall so advise the Series B Director(s) or the Series H Director, as appropriate, and each such Director shall be required to promptly tender his resignation to the Corporation (and the holders of Series B Preferred Stock or Series H Preferred Stock, as the case may be, shall cause their designee to so resign) (a “Subsection (c) Resignation”).

 

(d)                                 At any such meeting called for the purpose of electing directors, the presence in person or by proxy of (A) the holders of a majority of the shares of Series H Preferred Stock then outstanding, in the case of the election of the Series H Director, (B) the holders of a majority of the shares of Series D Preferred Stock then outstanding, in the case of the election of the Series D Director, (C) the holders of a majority of the shares of Series B Preferred Stock then outstanding, in the case of the election of a Series B Director(s), and (D) the holders of a majority of the shares of Common Stock and Series A Preferred Stock then outstanding (on an as-converted to Common Stock basis), in the case of the election of a Common Director), shall constitute a quorum for the election of directors to be elected by such holders.

 

(e)                                  The Series H Director who shall have been elected as provided in this Section 15 may be removed during his term of office, whether with or without cause, only by the holders of record of a majority of Series H Preferred Stock then outstanding; the Series D Director who shall have been elected as provided in this Section 15 may be removed during his term of office, whether with or without cause, only by the holders of record of a majority of Series D Preferred Stock then outstanding; each Series B Director who shall have been elected as provided in this Section 15 may be removed during his term of office, whether with or without cause, only by the holders of record of a majority of the shares of Series B Preferred Stock then outstanding; and each Common Director who shall have been elected as provided in this Section 15 may be removed during his term of office, whether with or without cause, only by the holders of record of a majority of the shares of Common Stock and Series A Preferred Stock then outstanding (on an as-converted basis).

 

(f)                                   A vacancy in any directorship (whether as a result of death, permanent disability, resignation (other than a Subsection (c) Resignation) or removal) elected by the holders of shares of Series H Preferred Stock shall be filled only by vote or written consent of the holders of shares of Series H Preferred Stock in the manner set forth in this Section 15.  A vacancy in the directorship (whether as a result of death, permanent disability, resignation or removal) elected by the holders of shares of Series D Preferred Stock shall be filled only by vote or written consent of holders of shares of Series D Preferred Stock in the manner set forth in this Section 15.  A vacancy in any directorship (whether as a result of death, permanent disability, resignation (other than a Subsection (c) Resignation) or removal) elected by the holders of shares of Series B Preferred Stock shall be filled only by vote or written consent of the holders of shares of Series B Preferred Stock in the manner set forth in this Section 15.  A vacancy in any directorship (whether as a result of death, permanent disability, resignation (including as a result of a Subsection (c) Resignation) or removal) elected by the holders of record of shares of Common Stock and Series A Preferred Stock shall be filled by the remaining Common Directors then in office or, if there is none, then by vote or written consent of the holders of record of shares of Common Stock and Series A Preferred Stock, in the manner set forth in this Section 15.

 

31

 

(g)                                  Each Series H Director, Series D Director, Series B Director and Common Director shall be entitled to one (1) vote.  Holders of the Series C Preferred Stock, holders of the Series E Preferred Stock, holders of the Series F Preferred Stock, holders of the Series G Preferred Stock, holders of the Series I Preferred Stock and holders of the Series J Preferred Stock are not entitled to vote for directors.

 

(h)                                 The Series B Investors, the Series D Investors and the Series J Investors shall each have the right to designate one person as an observer to the Board of Directors (the “Board Observers”).  The Board Observers shall be given the same notices regarding Board and committee meetings (or written consents or other Board actions), shall be given the same materials and shall be entitled to attend all Board meetings and any executive session thereof (but not to vote thereat) as if he/she were a director, subject to the execution of confidentiality agreements.  Notwithstanding the foregoing, the Corporation may withhold any information and exclude any such Board Observer from any portion of any meeting of its Board of Directors or any committee meeting thereof where access to any such information or attendance at any such portion of a meeting would (i) present a direct conflict of interest for such Board Observer, including, but not limited to, in connection with any license, manufacturing or other agreement with any Series J Investor or any Affiliate thereof, or (ii) expose him or her to competitively sensitive business information which, if known to an industry competitor, would reasonably be expected to adversely affect the business or prospects of the Corporation.

 

(i)                                     The Corporation shall provide to each director and Board Observer:

 

(i)                                     Quarterly progress reports on the Corporation’s scientific work;

 

(ii)                                  Reports, if any, from the Corporation’s Scientific Advisory Committee;

 

(iii)                               Copies of all material documents filed with government agencies (including the Internal Revenue Service, the Environmental Protection Agency and the Securities and Exchange Commission) within sixty (60) days after such filing; provided that routine filings, including, but not limited to, the filing of tax returns, will only be provided upon written request to the Corporation;

 

(iv)                              Pleadings in any material lawsuits filed by or against the Corporation;

 

(v)                                 Copies of any notice regarding material defaults of any material agreement to which the Corporation is a party within sixty (60) days of receipt of such notice by the Corporation;

 

(vi)                              Prompt notice of any material adverse change or effect on the operations or financial position of the Corporation; and

 

(vii)                           The Corporation’s annual operating plan and budget, including monthly projections, at least thirty (30) days before the beginning of each fiscal year of the Corporation.

 

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33

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

IN WITNESS WHEREOF, the undersigned parties representing the Series I Investors, the Series J Investors and the Stockholders holding at least (a) a majority of the shares of Series A Preferred Stock subject to this Agreement, (b) 66.67% of the shares of Series B Preferred Stock subject to this Agreement, (c) 66.67% of the shares of Series C Preferred Stock, (d) 66.67% of the shares of Series D Preferred Stock, (e) 66.67% of the shares of Series E Preferred Stock, (f) 66.67% of the shares of Series F Preferred Stock, (g) 66.67% of the shares of Series G Preferred Stock, (h) 66.67% of the shares of Series H Preferred Stock  and (i) a majority of the shares of Common Stock subject to this Agreement, have caused this Agreement to be duly executed on their behalf as of the day first above written.

 

	
 
    	
ONCONOVA   THERAPEUTICS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
         /s/   Ramesh Kumar
    
	
 
    	
 
    	
Name:
    	
Ramesh   Kumar, Ph.D.
    
	
 
    	
 
    	
Title:
    	
President
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   F, G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
2007   Health, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eric Aroesty
    
	
 
    	
 
    	
Name:   Eric Aroesty
    
	
 
    	
 
    	
Title:   Manager
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   C, D, E, F, G, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
21st Century, L.L.C.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   J. Christopher Bumgarner
    
	
 
    	
 
    	
Name:   J. Christopher Bumgarner
    
	
 
    	
 
    	
Title:   Manager
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Anandh R. Haridh
    
	
 
    	
Anandh   R. Haridh
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Muthu Krishnan
    
	
 
    	
Muthu   Krishnan
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Kalyan Narayanan
    
	
 
    	
Kalyan   Narayanan
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Baker   NYE, LP
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard Nye
    
	
 
    	
Name:
    	
Richard   Nye
    
	
 
    	
Title:   
    	
Managing   G.P.
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Bala Shiva Prasad
    
	
 
    	
Bala   Shiva Prasad
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   J CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BAXTER   HEALTHCARE SA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Benedikt Kubik
    
	
 
    	
 
    	
Name:   Benedikt Kubik
    
	
 
    	
 
    	
Title:   Finance Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Sarah Byrne-Quinn
    
	
 
    	
 
    	
Name:   Sarah Byrne-Quinn
    
	
 
    	
 
    	
Title:   VP Business Development & Strategy
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Bhoopal Reddy Benjaram
    
	
 
    	
Bhoopal   Reddy Benjaram
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   E, F, G, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Brian T. Bristol
    
	
 
    	
Brian   T. Bristol
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Susannah B. Bristol
    
	
 
    	
Susannah   B. Bristol
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   B and C CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Cadila   Healthcare Limited
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Pankaj R. Patel
    
	
 
    	
 
    	
Name:   Pankaj R. Patel
    
	
 
    	
 
    	
Title:   Chairman and Mg. Director
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   E, F and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Carol Lili Lynton
    
	
 
    	
Carol   Lili Lynton
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   A CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Catherine G. Fine
    
	
 
    	
Catherine   G. Fine, Ph.D.
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Chepyala Anuradha
    
	
 
    	
Chepyala   Anuradha
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Anurag Gard
    
	
 
    	
Choral   Technologies Pvt. Ltd
    

 

 

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SERIES   F and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Christopher Wilson
    
	
 
    	
Christopher   Wilson
    

 

 

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SERIES   D, E, F, G, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Coneway   Investment Partners, L.P.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Peter Coneway
    
	
 
    	
 
    	
Name:   Peter Coneway
    
	
 
    	
 
    	
Title:   General Partner
    

 

 

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SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Daniel Motulsky
    
	
 
    	
Daniel   Motulsky
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   David Ward
    
	
 
    	
David   Ward
    

 

 

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SERIES   B CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Delta   Partners
    
	
 
    	
 
    
	
 
    	
By:   
    	
Delta   Partners MS, LLP
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
By:   
    	
JBS   Managers, LLC
    
	
 
    	
 
    	
Title:   
    	
Managing   Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:   
    	
/s/   James Thomas
    
	
 
    	
 
    	
Name:   
    	
James   Thomas
    
	
 
    	
 
    	
Title:   
    	
Member
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Diwakar Reddy Onteddu
    
	
 
    	
Diwakar   Reddy Onteddu
    

 

 

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SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   D.L. Subhardramma
    
	
 
    	
D.   L. Subhadramma
    

 

 

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SERIES   D and E CONVERTIBLE PREFERRED STOCKHOLDER and COMMON STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Alan R. Williamson
    
	
 
    	
Dr. Alan   R. Williamson
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ramalakshmi Marri
    
	
 
    	
Dr. Ramalakshmi   Marri
    

 

 

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SERIES   G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Drew Katz
    
	
 
    	
Drew   Katz
    

 

 

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SERIES   A, B, C, D, E, F, G, H and I CONVERTIBLE PREFERRED STOCKHOLDER and COMMON   STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   E. Premkumar Reddy
    
	
 
    	
E.   Premkumar Reddy, Ph.D.
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ellen F. McLean
    
	
 
    	
Ellen   F. McLean
    

 

 

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SERIES   B, D and F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ernest H. Pomerantz
    
	
 
    	
Ernest   H. Pomerantz
    

 

 

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SERIES   E and G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Estate of Stanley C. Bell, Ph.D, by Janice W. Bell, Executrix
    
	
 
    	
Estate   of Stanley C. Bell, Ph.D., by Janice W. Bell, Executrix
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   G. Yeshwanth Reddy
    
	
 
    	
G.   Yeshwanth Reddy
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Geoffrey G. Jones
    
	
 
    	
Geoffrey   G. Jones
    

 

 

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SERIES   B CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Gerlach &   Co.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Keith Whyte
    
	
 
    	
 
    	
Name:  Keith Whyte
    
	
 
    	
 
    	
Title:   A-VP
    

 

 

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SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Gregory A. Beard
    
	
 
    	
Gregory   A. Beard
    

 

 

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SERIES   H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Gulab Shrimal
    
	
 
    	
Gulab   Shrimal
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Gulab Shrimal
    
	
 
    	
Gulab   Shrimal
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Prashant Shrimal
    
	
 
    	
Prashant   Shrimal
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Hanimi Reddy Mettu
    
	
 
    	
Hanimi   Reddy Mettu
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   M. Satyavathy
    
	
 
    	
Satyavathy   Mettu
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Hanumanth K. Reddy
    
	
 
    	
Hanumanth   K. Reddy
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Geetha Reddy
    
	
 
    	
Geetha   R. Komatireddy
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
HANUMANTH &   GEETHA KOMATIREDDY
    
	
 
    	
TRUST
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Geetha Reddy
    
	
 
    	
 
    	
Name:   Geetha Komatireddy
    
	
 
    	
 
    	
Title:   Member
    

 

 

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SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Henry S. Bienen
    
	
 
    	
Henry   S. Bienen
    

 

 

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STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   B and F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
ICMC   Strategic Asset Fund, Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ralph Heffelman
    
	
 
    	
 
    	
Name:   Ralph Heffelman
    
	
 
    	
 
    	
Title:   President ICMC, ICMC General Partner
    

 

 

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STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   D, E and F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
I-Ven   Biotech Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   T.S. Suresh
    
	
 
    	
 
    	
Name:   T.S. Suresh
    
	
 
    	
 
    	
Title:   Director
    

 

 

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SERIES   G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   James R. Jones
    
	
 
    	
James   R. Jones
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Olivia Barclay Jones
    
	
 
    	
Olivia   Barclay Jones
    

 

 

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STOCKHOLDERS’ AGREEMENT

 

	
 
    	
COMMON   STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Janice W. Bell
    
	
 
    	
Janice   W. Bell
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Jeffrey Halis
    
	
 
    	
Jeffrey   Halis
    

 

 

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SERIES   A, C, F, G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Joel A. Fein
    
	
 
    	
Joel   A. Fein, M.D.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Victoria A. Levin
    
	
 
    	
Victoria   A. Levin
    

 

 

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SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   John Bertuzzi
    
	
 
    	
John   Bertuzzi
    

 

 

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SERIES   E CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   John French
    
	
 
    	
John   French
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   John Kunze
    
	
 
    	
John   Kunze
    

 

 

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STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   F and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   John Motulsky
    
	
 
    	
John   Motulsky
    

 

 

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STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   A, B, D, E, F and H CONVERTIBLE PREFERRED STOCKHOLDER and COMMON STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   John R. Jenkins
    
	
 
    	
John   R. Jenkins, Ph.D.
    

 

 

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STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Jude A. Olinger
    
	
 
    	
Jude   A. Olinger
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Kalpana Onteddu
    
	
 
    	
Kalpana   Onteddu
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Kavitha Mandadi
    
	
 
    	
Kavitha   Mandadi
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   John Stayapaul Gunja
    
	
 
    	
John   Stayapaul Gunja
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Kiran Kalakata
    
	
 
    	
Kiran   Kalakata
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Aishwarya Ganapa
    
	
 
    	
Aishwarya   Ganapa
    

 

 

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SERIES   E and G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Lee H. Carson
    
	
 
    	
Lee   H. Carson
    

 

 

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COMMON   STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
M.V.   Ramana Reddy
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   M.V. Ramana Reddy
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Madhava R. Marri
    
	
 
    	
Madhava   R. Marri
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Jeffrey Choppin
    
	
 
    	
Jeffrey   Choppin
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Madhava R. Marri
    
	
 
    	
Madhava   R. Marri
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Sarala R. Marri
    
	
 
    	
Sarala   R. Marri
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Marlene Hess
    
	
 
    	
Marlene   Hess
    

 

 

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SERIES   D CONVERTIBLE PREFERRED STOCKHOLDER and COMMON STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Marvin L. Miller
    
	
 
    	
Marvin   L. Miller
    

 

 

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SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Michael   and Jane Hoffman 2012 Descendants Trust
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael B. Hoffman
    
	
 
    	
 
    	
Name:   Michael B. Hoffman
    
	
 
    	
 
    	
Title:
    

 

 

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STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
MOHAN   KOKA, TRUSTEE OF THE MOHAN KOKA REVOCABLE TRUST AND SAYEE KOKA, TRUSTEE OF   THE SAYEE KOKA REVOCABLE TRUST, AS EQUAL TENANTS IN COMMON
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mohan Koka
    
	
 
    	
 
    	
Mohan   Koka
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Sayee Koka
    
	
 
    	
 
    	
Sayee   Koka
    

 

 

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SERIES   G, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Mohan Krishna Reddy Aryabumi
    
	
 
    	
Mohan   Krishna Reddy Aryabumi
    

 

 

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SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   N. John Lancaster
    
	
 
    	
N.   John Lancaster
    

 

 

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SERIES   D, E, F, G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Naftali   Investments Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Meir Hadar
    
	
 
    	
 
    	
Name:   Meir Hadar
    
	
 
    	
 
    	
Title:   President & CEO
    

 

 

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SERIES   G, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Nathaniel A. Bristol
    
	
 
    	
Nathaniel   A. Bristol
    

 

 

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SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Neil Weiss
    
	
 
    	
Neil   Weiss
    

 

 

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SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
New   Cavendish Finance Corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Marcio Fainziliber
    
	
 
    	
 
    	
Name:   Marcio Fainziliber
    
	
 
    	
 
    	
Title:   Attorney-in-fact
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Nirmala Onteddu
    
	
 
    	
Nirmala   Onteddu
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ramakrishna Reddy Pulimamidi
    
	
 
    	
Ramakrishna   Reddy Pulimamidi
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Prabhat Kumar
    
	
 
    	
Prabhat   Kumar
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Shirly Dsilva
    
	
 
    	
Shirly   Dsilva
    

 

 

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SERIES   F, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Quod   Erat Demonstrandum (QED) Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   N.R. Landor
    
	
 
    	
 
    	
Name:   N.R. Landor
    
	
 
    	
 
    	
Title:   Director for Consortia Directors Limited
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Radha Reddy Gurram
    
	
 
    	
Radha   Reddy Gurram
    

 

 

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SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Rajender Benjaram
    
	
 
    	
Rajender   Benjaram
    

 

 

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SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ramakrishna Reddy Pulimamidi
    
	
 
    	
Ramakrishna   Reddy Pulimamidi
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Nirmala Onteddu
    
	
 
    	
Nirmala   Onteddu
    

 

 

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SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ramakrishna Reddy Pulimamidi
    
	
 
    	
Ramakrishna   Reddy Pulimamidi
    

 

 

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SERIES   A, B, C, D, E, F, G, H and I CONVERTIBLE PREFERRED STOCKHOLDER and COMMON   STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ramesh Kumar
    
	
 
    	
Ramesh   Kumar, Ph.D.
    

 

 

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SERIES   G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Robert Hotz
    
	
 
    	
Robert   Hotz
    

 

 

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SERIES   F, G, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Robert S. Mancini
    
	
 
    	
Robert   S. Mancini
    

 

 

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SERIES   F, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Robert   T. Clutterbuck, Trustee, Robert T. Clutterbuck Trust Dtd 11/07/1994
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert T. Clutterbuck
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

 

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STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   B, C, E and F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Rocky   Way Partners, L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 /s/ David S. Steiner
    
	
 
    	
 
    	
Name:   David S. Steiner
    
	
 
    	
 
    	
Title:   General Partner
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   B and C CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Roy M. Ambinder
    
	
 
    	
Roy   M. Ambinder, M.D.
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
/s/   Rupinder Singh Gill
    
	
 
    	
Rupinder   Singh Gill
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Rupinder Gill
    
	
 
    	
Rupinder   Gill
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Raminder Gill
    
	
 
    	
Raminder   Gill
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Sanford A. Bristol
    
	
 
    	
Sanford   A. Bristol
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Saroja Koppala
    
	
 
    	
Saroja   Koppala
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   K. Sudhir Reddy
    
	
 
    	
K.   Sudhir Reddy
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Sasanka Reddy Sirigireddy
    
	
 
    	
Sasanka   Reddy Sirigireddy
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Satish Kumar Thulla
    
	
 
    	
Satish   Kumar Thulla
    

 

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   D, E, F and G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Select   Equity Advisory Services Pvt. Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 /s/ Arjun Sharma
    
	
 
    	
 
    	
Name:   Arjun Sharma
    
	
 
    	
 
    	
Title:   Director
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   D, E, F and G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Select   Synergies and Services Pvt. Ltd.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 /s/ Arjun Sharma
    
	
 
    	
 
    	
Name:   Arjun Sharma
    
	
 
    	
 
    	
Title:   Authorized Signatory
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Shravan K. Mettu
    
	
 
    	
Shravan   K. Mettu
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Varun Radhakrishnan
    
	
 
    	
Varun   Radhakrishnan
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   F and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
SLATER   CAPITAL I, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Steven L. Martin
    
	
 
    	
 
    	
Name:   Steven L. Martin
    
	
 
    	
 
    	
Title:   Managing Member
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Vijay Bhasker Reddy Lachagari
    
	
 
    	
Vijay   Bhasker Reddy Lachagari
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Raji Reddy Nalla
    
	
 
    	
Raji   Reddy Nalla
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Thomas S. Riggs
    
	
 
    	
Thomas   S. Riggs
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Sreedevi Avuku
    
	
 
    	
Sreedevi   Avuku
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Venkata Vijaya Kumar Reddy Avuku
    
	
 
    	
Venkata   Vijaya Kumar Reddy Avuku
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   D, E, F and G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Starec   Trust
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 /s/ Michael Recanati
    
	
 
    	
 
    	
Name:   Michael Recanati
    
	
 
    	
 
    	
Title:   Trustee
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   E, F and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Stephen J. Schaefer
    
	
 
    	
Stephen   J. Schaefer
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   E, G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Stephen T. Kelly
    
	
 
    	
Stephen   T. Kelly
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Steven   J. Hefter Trustee of the Steven J. Hefter Trust
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Steven J. Hefter
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Steven L. Martin
    
	
 
    	
Steven   L. Martin
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   G CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Sylvia   Steiner 1999 Trust
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   David S. Steiner
    
	
 
    	
 
    	
Name:   David S. Steiner
    
	
 
    	
 
    	
Title:   Trustee
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
The   Beutner Family 2001 Long-Term Trust
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Austin M. Beutner
    
	
 
    	
 
    	
Name:   Austin M. Beutner
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Steven L. Martin
    
	
 
    	
 
    	
Name:   Steven L. Martin
    
	
 
    	
 
    	
Title:   Trustee
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   B, C, D, E, F, G, H and I CONVERTIBLE PREFERRED STOCKHOLDER and COMMON   STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
The   Jane & Michael B. Hoffman 1998 Trust For Issue
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jane S. Hoffman
    
	
 
    	
 
    	
Name:   Jane S. Hoffman
    
	
 
    	
 
    	
Title:   Trustee
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
The   Michael Recanati Trust
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael Recanati
    
	
 
    	
 
    	
Name:   Michael Recanati
    
	
 
    	
 
    	
Title:   Trustee
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   C, E and F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
The   Testa Family Limited Partnership
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Robert Testa
    
	
 
    	
 
    	
Name:   Robert Testa
    
	
 
    	
 
    	
Title:   General Partner
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Thunderhill   Associates, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul B. Guenther
    
	
 
    	
 
    	
Name:   Paul B. Guenther
    
	
 
    	
 
    	
Title:   Managing Member
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   B, C, D, E, F, G, H and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Timothy G. Lalonde
    
	
 
    	
Timothy   G. Lalonde
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   G and I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
TRUST   UNDER DEED OF WILLIAM M. BRISTOL III AS AMENDED AND RESTATED ON AUGUST 16,   2003
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mary Jayne Comey
    
	
 
    	
 
    	
Name:   Mary Jayne Comey
    
	
 
    	
 
    	
Title:
    

 

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Tulla Kishore
    
	
 
    	
Tulla   Kishore
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Raghavendra Goud Vaggu
    
	
 
    	
Raghavendra   Goud Vaggu
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Utkarsh Palnitkar
    
	
 
    	
Utkarsh   Palnitkar
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
VenturEast   Life Fund III LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Akshar Maherally
    
	
 
    	
 
    	
Name:   Akshar Maherally
    
	
 
    	
 
    	
Title:   Director
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Vieco   3 Limited
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Alison Renouf
    
	
 
    	
 
    	
Name:   Alison Renouf
    
	
 
    	
 
    	
Title:   Director
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   G and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Vijay Kumar Reddy Bondugula
    
	
 
    	
Vijay   Kumar Reddy Bondugula
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   B, C and D CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Viram Foundation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Amita Rodman Mehta
    
	
 
    	
 
    	
Name: Amita Rodman Mehta
    
	
 
    	
 
    	
Title: Trustee
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   F and H CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Wayne J.D. Teetsel
    
	
 
    	
Wayne   J.D. Teetsel
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   F CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Wesley R. Edens
    
	
 
    	
Wesley   R. Edens
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    
	
 
    	
Wyandanch   Partners, L.P.,
    
	
 
    	
By:   Gollust Management Inc., its General Partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Keith R. Gollust
    
	
 
    	
 
    	
 
    	
Name:   Keith R. Gollust
    
	
 
    	
 
    	
 
    	
Title:   President
    

 

 

SIGNATURE PAGE TO EIGHTH AMENDED AND RESTATED

STOCKHOLDERS’ AGREEMENT

 

	
 
    	
SERIES   I CONVERTIBLE PREFERRED STOCKHOLDER:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/   Yarlagadda Manoj Kumar
    
	
 
    	
Yarlagadda   Manoj Kumar
    

 

 

CONSENT OF SPOUSE TO EIGHTH AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT

 

CONSENT OF SPOUSE

 

I,                                           , spouse of                                           , acknowledge that I have read the Eighth Amended and Restated Stockholders’ Agreement, dated as of July 27, 2012, by and among Onconova Therapeutics, Inc. (the “Corporation”) and the stockholders signatory thereto (as may be amended from time to time, the “Agreement”), which is attached as Exhibit A hereto, and that I know the contents of the Agreement.  I am aware that the Agreement contains provisions regarding the voting and transfer of shares of capital stock of the Corporation that my spouse may own, including any interest I might have therein.

 

I hereby agree that my interest, if any, in any shares of capital stock of the Corporation subject to the Agreement shall be irrevocably bound by the Agreement and further understand and agree that any community property interest I may have in such shares of capital stock of the Corporation shall be similarly bound by the Agreement.

 

I am aware that the legal, financial and related matters contained in the Agreement are complex and that I am free to seek independent professional guidance or counsel with respect to this Consent.  I have either sought such guidance or counsel or determined after reviewing the Agreement carefully that I will waive such right.

 

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
[Name]
    

 

 

JOINDER AGREEMENT

 

Joinder Agreement

 

The undersigned, the holder of                  shares of [Series      ] Convertible Preferred Stock, par value $.01 per share, of Onconova Therapeutics, Inc., a Delaware corporation (the “Corporation”), hereby agrees with the Corporation that it is hereby a party to the Eighth Amended and Restated Stockholders’ Agreement, dated as of July 27, 2012, by and among the Corporation and the stockholders signatory thereto (as may be amended from time to time, the “Stockholders’ Agreement”) and it is bound by the obligations therein imposed upon, and entitled to the benefits therein of, a [“Series A Investor”,] [a “Series B Investor”,] [a “Series C Investor”,] [a “Series D Investor”,] [a “Series E Investor”,] [a “Series F Investor”,] [a “Series G Investor”,] [a “Series H Investor”,] [a “Series I Investor”], an “Investor” and a “Stockholder,” with the same effect as if it had executed the Stockholders’ Agreement on the original date thereof.

 

 

	
Dated   as of                       ,   20
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

 

EXHIBIT A TO CONSENT OF SPOUSE

 

Exhibit A

 

Eighth Amended and Restated Stockholders’ Agreement

 

 

 

JOINDER AGREEMENT

 

THIS AGREEMENT, dated as of December 21, 2012, is made by Onconova Therapeutics, Inc., a Delaware corporation (the “Company”), and Citco Global Custody (NA) NV ref Altair Stars LP (together, “Transferee”).  Capitalized terms used but not defined herein shall have the same meanings assigned to them in that certain Eighth Amended and Restated Stockholders’ Agreement, as the same may be amended from time to time, dated as of July 27, 2012, between the Company and the other stockholders named therein (the “Stockholders’ Agreement”).

 

WHEREAS, Citco Global Custody (NA) NV ref Altair Stars Fund Ltd. (“Transferor”) is the holder of 3,379 shares of the Company’s Series B Convertible Preferred Stock, par value $.01 per share (the “Series B Stock”);

 

WHEREAS, Transferor desires to transfer to Transferee without consideration 3,379 shares of the Series B Stock;

 

WHEREAS, Transferor has determined that Transferee is a Permitted Transferee as defined in Section 3(e)(i) of the Stockholders’ Agreement; and

 

WHEREAS, Transferee desires to become bound by the obligations imposed by, and entitled to the benefits under, the Stockholders’ Agreement.

 

NOW THEREFORE, for good and valuable consideration, Transferor hereby conveys and assigns to Transferee as of the date hereof all of its right, title and interest, free and clear of all liens, claims, and encumbrances in the Series B Stock, except as provided for in the Stockholders’ Agreement.  Transferee hereby agrees with the Company that, by signing this Joinder Agreement, it is hereby a party to the Stockholders’ Agreement and it is bound by the obligations therein imposed upon, and entitled to the benefits therein of, a “Series B Investor”, an 

 

 

“Investor” and a “Stockholder,” with the same effect as if it had executed the Stockholders’ Agreement on the original date thereof.

 

[The rest of this page intentionally left blank.]

 

 

[SIGNATURE PAGE TO JOINDER AGREEMENT]

 

Please indicate your acceptance of the foregoing by signing and returning the enclosed counterpart of this Joinder Agreement, whereupon the Stockholders’ Agreement shall be a binding agreement between the Company and you.

 

 

	
 
    	
ONCONOVA   THERAPEUTICS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Ramesh Kumar
    
	
 
    	
 
    	
Ramesh   Kumar, Ph.D.
    
	
 
    	
 
    	
President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
CITCO   GLOBAL CUSTODY (NA) NV REF ALTAIR STARS LP
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Ray Creedon
    
	
 
    	
 
    	
Name:   Ray Creedon
    
	
 
    	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Cristina Silva
    
	
 
    	
 
    	
Name:   Cristina Silva
    
	
 
    	
 
    	
Title:   Authorized Signatory
    

 

 

AGREED TO AND ACCEPTED as of the date first above written.

 

	
 
    	
CITCO   GLOBAL CUSTODY (NA) NV REF ALTAIR STARS FUND LTD.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Ray Creedon
    
	
 
    	
 
    	
Name:   Ray Creedon
    
	
 
    	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Cristina Silva
    
	
 
    	
 
    	
Name:   Cristina Silva
    
	
 
    	
 
    	
Title:   Authorized Signatory
    

 

 

JOINDER AGREEMENT

 

THIS AGREEMENT, dated as of February 28, 2013, is made by Onconova Therapeutics, Inc., a Delaware corporation (the “Company”), and The Michael and Jane Hoffman 2013 Descendants Trust (“Transferee”).  Capitalized terms used but not defined herein shall have the same meanings assigned to them in that certain Eighth Amended and Restated Stockholders’ Agreement, as the same may be amended from time to time, dated as of July 27, 2012, between the Company and the other stockholders named therein (the “Stockholders’ Agreement”).

 

WHEREAS, The Jane & Michael B. Hoffman 1998 Trust for Issue (“Transferor”) is the holder of those shares of the Company’s capital stock listed on Schedule A attached hereto (collectively, the “Stock”);

 

WHEREAS, Transferor desires to transfer to Transferee, without consideration, the Stock;

 

WHEREAS, Transferor has determined that Transferee is a Permitted Transferee as defined in Section 3(e)(i) of the Stockholders’ Agreement; and

 

WHEREAS, Transferee desires to become bound by the obligations imposed by, and entitled to the benefits under, the Stockholders’ Agreement.

 

NOW THEREFORE, for good and valuable consideration, Transferor hereby conveys, transfers and assigns to the Transferee as of the date hereof all of its right, title and interest, free and clear of all liens, claims, and encumbrances in the Stock, except as provided for in the Stockholders’ Agreement.  The Transferee hereby agrees with the Company that, by signing this Joinder Agreement, it is hereby a party to the Stockholders’ Agreement and it is bound by the obligations therein imposed upon, and entitled to the benefits therein of, a 

 

 

“Common Stockholder”, a “Series B Investor”, a “Series C Investor”, a “Series D Investor”, a “Series E Investor”, a “Series F Investor”, a “Series G Investor”, a “Series H Investor”, a “Series I Investor”, an “Investor” and a “Stockholder,” with the same effect as if it had executed the Stockholders’ Agreement on the original date thereof.

 

 

[SIGNATURE PAGE TO JOINDER AGREEMENT]

 

Please indicate your acceptance of the foregoing by signing and returning the enclosed counterpart of this Joinder Agreement, whereupon the Stockholders’ Agreement shall be a binding agreement between the Company and you.

 

 

	
 
    	
ONCONOVA   THERAPEUTICS, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Ramesh Kumar
    
	
 
    	
 
    	
Ramesh   Kumar, Ph.D.
    
	
 
    	
 
    	
President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
THE   MICHAEL AND JANE HOFFMAN 2013 DESCENDANTS TRUST
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Jane Hoffman
    
	
 
    	
Name:   Jane Hoffman
    
	
 
    	
Title:   Trustee
    

 

 

[SIGNATURE PAGE TO JOINDER AGREEMENT]

 

AGREED TO AND ACCEPTED as of the date first above written.

 

 

	
 
    	
THE   JANE & MICHAEL B. HOFFMAN 1998 TRUST FOR ISSUE
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Jane Hoffman
    
	
 
    	
Name:   Jane Hoffman
    
	
 
    	
Title:   Trustee
    

 

 

[SIGNATURE PAGE TO JOINDER AGREEMENT]

 

Schedule A

 

	
DATE
   BECAME
   OWNER
   OF
   RECORD
    	
 
    	
CERT.
   NO.
    	
 
    	
CLASS
   OR
   SERIES
   OF
   SHARES
    	
 
    	
NO. OF
   SHARES
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12/27/06
    	
 
    	
19
    	
 
    	
Common
    	
 
    	
322,765
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
6/23/10
    	
 
    	
40
    	
 
    	
Common
    	
 
    	
128,204
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
9/24/12
    	
 
    	
57
    	
 
    	
Common
    	
 
    	
12,500
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12/31/12
    	
 
    	
85
    	
 
    	
Common
    	
 
    	
395,863
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
11/14/00
    	
 
    	
BCP5
    	
 
    	
Series B
    	
 
    	
43,478
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12/11/06
    	
 
    	
BCP68
    	
 
    	
Series B
    	
 
    	
2,855
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12/11/06
    	
 
    	
BCP69
    	
 
    	
Series B
    	
 
    	
1,162
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12/11/06
    	
 
    	
BCP70
    	
 
    	
Series B
    	
 
    	
1,855
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12/5/11
    	
 
    	
BCP93
    	
 
    	
Series B
    	
 
    	
50,000
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12/27/02
    	
 
    	
CP1
    	
 
    	
Series C
    	
 
    	
140,449
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3/19/04
    	
 
    	
DP4
    	
 
    	
Series D
    	
 
    	
141,396
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
7/15/04
    	
 
    	
DP15
    	
 
    	
Series D
    	
 
    	
214,132
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3/18/05
    	
 
    	
EP2
    	
 
    	
Series E
    	
 
    	
102,460
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12/1/05
    	
 
    	
EP28
    	
 
    	
Series E
    	
 
    	
204,919
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
10/31/06
    	
 
    	
EP52
    	
 
    	
Series E
    	
 
    	
10,246
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
9/26/11
    	
 
    	
EP55
    	
 
    	
Series E
    	
 
    	
317,000
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
8/30/07
    	
 
    	
FP50
    	
 
    	
Series F
    	
 
    	
39,062
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2/22/12
    	
 
    	
FP67
    	
 
    	
Series F
    	
 
    	
72,165
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5/12/09
    	
 
    	
G14
    	
 
    	
Series G
    	
 
    	
102,145
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
10/5/11
    	
 
    	
G91
    	
 
    	
Series G
    	
 
    	
51,072
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
10/28/11
    	
 
    	
G92
    	
 
    	
Series G
    	
 
    	
76,608
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
9/21/10
    	
 
    	
H27
    	
 
    	
Series H
    	
 
    	
199,144
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
6/6/11
    	
 
    	
H85
    	
 
    	
Series H
    	
 
    	
102,146
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
7/25/12
    	
 
    	
I3
    	
 
    	
Series I
    	
 
    	
1,635,514
    

 

 

JOINDER AGREEMENT

 

THIS AGREEMENT, dated as of December 17, 2012, is made by Onconova Therapeutics, Inc., a Delaware corporation (the “Company”), Ramesh Kumar, Ph.D. (“Transferor”), and The Ramesh Kumar 2012 Trust (“Transferee”).  Capitalized terms used but not defined herein shall have the same meanings assigned to them in that certain Eighth Amended and Restated Stockholders’ Agreement, dated as of July 27, 2012, between the Company and the other stockholders named therein, as the same may be amended from time to time (the “Stockholders’ Agreement”).

 

WHEREAS, Transferor is the holder of 323,853 shares of the Company’s Common Stock, par value $.01 per share (“Transferor’s Shares”);

 

WHEREAS, Transferor desires to transfer to Transferee without consideration 200,000 shares of Transferor’s Shares (the “Shares”);

 

WHEREAS, Transferor has determined that Transferee is a Permitted Transferee as defined in Section 3(e)(ii) of the Stockholders’ Agreement and said transfer is an Excluded Transfer as defined in Section 4(c)(i) of the Stockholders’ Agreement; and

 

WHEREAS, Transferee desires to become bound by the obligations imposed by, and entitled to the benefits under, the Stockholders’ Agreement.

 

NOW THEREFORE, for good and valuable consideration, Transferor hereby conveys and assigns to the Transferee, as of the date hereof, all of his rights, title and interest in the Shares, free and clear of all liens, claims, and encumbrances, except as provided for in the Stockholders’ Agreement.  The Transferee hereby agrees with the Company that, by signing this Joinder Agreement, it is hereby a party to the Stockholders’ Agreement and it is bound by the obligations therein imposed upon, and entitled to the benefits therein of, a “Founder” and a “Stockholder,” with the same effect as if it had executed the Stockholders’ Agreement on the original date thereof.

 

[The rest of this page intentionally left blank.]

 

 

[SIGNATURE PAGE TO JOINDER AGREEMENT]

 

IN WITNESS WHEREOF, the undersigned have executed this Joinder Agreement as of the date first above written.

 

	
 
    	
ONCONOVA   THERAPEUTICS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Ramesh Kumar
    
	
 
    	
Name:   Ramesh Kumar, Ph.D.
    
	
 
    	
Title:   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TRANSFEROR:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/ Ramesh Kumar
    
	
 
    	
Ramesh Kumar, Ph.D.
    

 

 

[SIGNATURE PAGE TO JOINDER AGREEMENT]

 

Please indicate your acceptance of the foregoing by signing and returning the enclosed counterpart of this Joinder Agreement, whereupon the Stockholders’ Agreement shall be a binding agreement between the Company and you.

 

AGREED TO AND ACCEPTED as of the date first above written.

 

 

	
 
    	
TRANSFEREE:
    
	
 
    	
 
    
	
 
    	
THE   RAMESH KUMAR 2012 TRUST
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Ramesh Kumar
    
	
 
    	
Name:   Ramesh Kumar, Ph.D.
    
	
 
    	
Title:   Trustee
    

 

 

JOINDER AGREEMENT

 

THIS AGREEMENT, dated as of December 28, 2012, is made by Onconova Therapeutics, Inc., a Delaware corporation (the “Company”) and Thomas F. Diorio and Citicorp Trust, N.A., as trustees of the Mancini Family 2012 Trust (“Transferee”).  Capitalized terms used but not defined herein shall have the same meanings assigned to them in that certain Eighth Amended and Restated Stockholders’ Agreement, as the same may be amended from time to time, dated as of July 27, 2012, between the Company and the other stockholders named therein (the “Stockholders’ Agreement”).

 

WHEREAS, Robert S. Mancini (“Transferor”) is the holder of 22,727 shares of the Company’s Series F Convertible Preferred Stock, par value $.01 per share (the “Series F Stock”), 24,514 shares of the Company’s Series G Convertible Preferred Stock, par value $.01 per share (the “Series G Stock”), 10,215 shares of the Company’s Series H Convertible Preferred Stock, par value $.01 per share (the “Series H Stock”), and 9,109 shares of the Company’s Series I Convertible Preferred Stock, par value $.01 per share (the “Series I Stock”);

 

WHEREAS, Transferor desires to transfer to Transferee, without consideration, the Series F Stock, the Series G Stock, the Series H Stock, and the Series I Stock;

 

WHEREAS, Transferor has determined that Transferee is a Permitted Transferee as defined in Section 3(e)(ii) of the Stockholders’ Agreement; and

 

WHEREAS, Transferee desires to become bound by the obligations imposed by, and entitled to the benefits under, the Stockholders’ Agreement.

 

NOW THEREFORE, for good and valuable consideration, Transferor hereby conveys, transfers and assigns to the Transferee as of the date hereof all of its right, title and interest, free and clear of all liens, claims, and encumbrances in the Series F Stock, the Series G 

 

 

Stock, the Series H Stock, and the Series I Stock, except as provided for in the Stockholders’ Agreement.  The Transferee hereby agrees with the Company that, by signing this Joinder Agreement, it is hereby a party to the Stockholders’ Agreement and it is bound by the obligations therein imposed upon, and entitled to the benefits therein of, a “Series F Investor”, a “Series G Investor”, a “Series H Investor”, a “Series I Investor”, an “Investor” and a “Stockholder,” with the same effect as if it had executed the Stockholders’ Agreement on the original date thereof.

 

 

[SIGNATURE PAGE TO JOINDER AGREEMENT]

 

Please indicate your acceptance of the foregoing by signing and returning the enclosed counterpart of this Joinder Agreement, whereupon the Stockholders’ Agreement shall be a binding agreement between the Company and you.

 

 

	
 
    	
ONCONOVA   THERAPEUTICS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Ramesh Kumar
    
	
 
    	
 
    	
Ramesh   Kumar, Ph.D.
    
	
 
    	
 
    	
President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
THE   MANCINI FAMILY 2012 TRUST
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Thomas F. Diorio
    
	
 
    	
 
    	
Name:   Thomas F. Diorio
    
	
 
    	
 
    	
Title:   Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   Citicorp Trust, N. A., Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
By:   
    	
/s/   Jane Monahan
    
	
 
    	
 
    	
 
    	
Name:   Jane Monahan
    
	
 
    	
 
    	
 
    	
Title:   Director and Senior Trust Officer
    

 

 

AGREED TO AND ACCEPTED as of the date first above written.

 

 

	
 
    	
/s/   Robert S. Mancini
    
	
 
    	
ROBERT   S. MANCINI

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