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Stockholder Agreement

 

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Title:

Stockholder Agreement

Entities:

Oratec Interventions Inc

Date:

2002

Size:

Preview shows 5KB of 23KB total

Price:

$41

ID:

#1377087

 

 

► Corporate ► Holder ► Stockholder Agreements

 

 

Start of Preview


                             STOCKHOLDER AGREEMENT


STOCKHOLDER AGREEMENT (this "Agreement"), dated as of February 13, 2002,
among Smith & Nephew, Inc., a Delaware corporation ("Parent"), Orchid Merger
Corp, a Delaware corporation and a wholly owned subsidiary of Parent ("Sub"),
and the undersigned stockholder (the "Stockholder") of ORATEC Interventions,
Inc., a Delaware corporation (the "Company").

WHEREAS, Parent, Sub and the Company are contemporaneously with the
execution hereof entering into an Agreement and Plan of Merger dated as of even
date herewith (as the same may be amended or supplemented, the "Merger
Agreement") to provide for the making of a cash tender offer (as such offer may
be amended from time to time, the "Offer") by Sub for any and all shares of
common stock, par value $.001 per share, of the Company (the "Common Stock") at
the Offer Price (as defined in the Merger Agreement) and the merger of the
Company and Sub (the "Merger");

WHEREAS, the Stockholder legally and/or beneficially owns that number of
shares of Common Stock appearing on the signature page hereof (such shares, as
they may be adjusted by any stock dividend, stock split, recapitalization,
combination or exchange of shares, merger, consolidation, reorganization or
other change or transaction of or by the Company (each, an "Adjustment Event"),
and any additional shares of Common Stock that become legally and/or
beneficially owned by the Stockholder as the result of the exercise of any
stock option, warrant or other security after the date hereof, being referred
to herein as the "Subject Shares"); and

WHEREAS, as a condition to their willingness to enter into the Merger
Agreement, Parent and Sub have requested that the Stockholder enter into this
Agreement;

NOW, THEREFORE, to induce Parent and Sub to enter into, and in consideration
of their entering into, the Merger Agreement, and in consideration of the
premises and the representations, warranties and agreements contained herein,
the parties agree as follows:

1. Representations and Warranties of the Stockholder. The Stockholder
hereby represents and warrants to Parent and Sub as follows:

(a) Authority. The Stockholder has all requisite power and authority to
enter into this Agreement and to consummate the transactions contemplated
hereby. This Agreement has been duly authorized, executed and delivered by
the Stockholder and constitutes a valid and binding obligation of the
Stockholder enforceable in accordance with its terms, except to the extent
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or other laws of general applicability
relating to or affecting the enforcement of creditors' rights and by the
effect of general principles of equity (regardless of whether enforceability
is considered in a proceeding in equity or at law). The execution and
delivery of this Agreement does not, and the consummation of the
transactions contemplated hereby and compliance with the terms hereof will
not, conflict with, result in any violation of or default (with or without
notice or lapse of time or both) under, any provision of any trust
agreement, loan or credit agreement, note, bond, security agreement,
mortgage, indenture, lease or other agreement, instrument, permit,
concession, franchise, license, judgment, order, notice, decree, statute,
law, ordinance, rule or regulation applicable to the Stockholder or to the
Stockholder's property or assets. Except for informational filings with the
SEC, no consent, approval, order or authorization of, or registration,
declaration or filing with, any court, administrative agency or commission
or other governmental authority or instrumentality, domestic, foreign or
supranational, is required by or with respect to the Stockholder in
connection with the execution and delivery of this Agreement or the
consummation by the Stockholder of the transactions contemplated hereby.

1

<PAGE>

(b) The Shares. The Stockholder has good and marketable title to the
Subject Shares, free and clear of any claims, liens, encumbrances, security
interests, proxies, voting trusts, agreements, options, rights or any other
encumbrances whatsoever on title, transfer, or exercise of any rights of a
stockholder in respect of such Subject Shares except for any encumbrances
arising hereunder. The Stockholder owns legally and/or beneficially no
shares of Common Stock other than the Subject Shares.

2. Representations and Warranties of Parent and Sub. Parent and Sub hereby
represent and warrant to the Stockholder that each of Parent and Sub has all
requisite corporate power and authority to enter into this Agreement and to
consummate the transactions contemplated hereby. The execution and delivery of
this Agreement by Parent and Sub, and the consummation of the transactions

 

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