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Title: |
Information and Registration Rights Agreement |
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Entities: |
Johnson & Johnson Development Corp.; Neurocrine Biosciences, Inc. |
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Date: |
2000 |
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Size: |
Preview shows 14KB of 94KB total |
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Price: |
$55 |
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ID: |
#273662 |
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NEUROCRINE BIOSCIENCES, INC.
INFORMATION AND REGISTRATION RIGHTS AGREEMENT
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
1. Certain Definitions.................................................................... 1
-------------------
2. Information Rights..................................................................... 2
------------------
2.1 Financial Statements.............................................................. 2
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2.2 Additional Information............................................................ 3
----------------------
3. Inspection............................................................................. 3
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4. Right of First Refusal................................................................. 3
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5. Termination of Covenants............................................................... 5
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6. Demand Registration.................................................................... 5
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6.1 Request for Registration on Form Other Than Form S-3.............................. 5
----------------------------------------------------
6.2 Right of Deferral of Registration on Form Other Than Form S-3..................... 5
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6.3 Request for Registration on Form S-3.............................................. 5
------------------------------------
6.4 Registration of Other Securities in Demand Registration........................... 6
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6.5 Underwriting in Demand Registration............................................... 6
-----------------------------------
6.6 Blue Sky in Demand Registration................................................... 7
-------------------------------
7. Piggyback Registration................................................................. 7
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7.1 Notice of Piggyback Registration and Inclusion of Registrable Securities........... 7
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7.2 Underwriting in Piggyback Registration............................................. 7
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7.3 Blue Sky in Piggyback Registration................................................. 8
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8. Expenses of Registration............................................................... 8
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9. Registration Procedures................................................................ 9
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10. Information Furnished by Holder........................................................ 9
-------------------------------
11. Indemnification........................................................................ 9
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11.1 Company's Indemnification of Holders.............................................. 10
------------------------------------
11.2 Holder's Indemnification of Company............................................... 10
-----------------------------------
11.3 Indemnification Procedure......................................................... 11
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12. Limitations on Registration Rights Granted to Other Securities......................... 11
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13. Reports Under Securities Exchange Act of 1934.......................................... 12
---------------------------------------------
14. Market Stand-off....................................................................... 12
----------------
15. Conversion of Preferred Stock.......................................................... 12
-----------------------------
16. Termination of Registration Rights..................................................... 12
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{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
17. Transfer of Rights........................................................ 13
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18. Miscellaneous.............................................................. 13
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18.1 Entire Agreement; Successors and Assigns.............................. 13
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18.2 Governing Law......................................................... 13
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18.3 Counterparts.......................................................... 13
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18.4 Headings.............................................................. 13
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18.5 Notices............................................................... 13
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18.6 Amendment of Agreement................................................ 14
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18.7 Aggregation of Stock.................................................. 14
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18.8 Severability.......................................................... 14
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{/TABLE}
ii
{PAGE}
INFORMATION AND REGISTRATION RIGHTS AGREEMENT
This INFORMATION AND REGISTRATION RIGHTS AGREEMENT (the "Agreement")
is made as of September 25, 1992, by and among Neurocrine Biosciences, Inc., a
California corporation (the "Company"), the persons listed on the attached
Schedule A who become signatories to this Agreement (collectively, the
"Investors"), and the persons listed on the attached Schedule B who become
signatories to this Agreement (collectively, the "Founders").
R E C I T A L S
---------------
A. The Company and the Investors have entered into agreements for
sale by the Company and purchase by the Investors of the Company's securities.
B. In connection with the purchase and sale of the Company's
securities, the Company and the Investors desire to provide for (i) the rights
of the Investors with respect to information about the Company and registration
of the Common Stock issued upon conversion or exercise of the shares of the
Company's stock held by the Investors according to the terms of this Agreement,
(ii) a right of first refusal for the Investors with respect to certain future
stock issuances by the Company, and (iii) certain other provisions as set forth
below.
THE PARTIES AGREE AS FOLLOWS:
1. Certain Definitions.
-------------------
As used in this Agreement, the following terms shall have the
following respective meanings:
(a) "Commission" shall mean the Securities and Exchange Commission or
----------
any other federal agency at the time administering the Securities Act.
(b) "Convertible Securities" shall mean securities of the Company
----------------------
convertible into or exchangeable for Registrable Securities, including the
Series A Preferred Stock, and any other securities of the Company convertible
into or exchangeable for Registrable Securities included in this Agreement
pursuant to Section 12.
(c) "Form S-3" shall mean Form S-3 issued by the Commission or any
--------
substantially similar form then in effect.
(d) "Founders' Stock" shall mean all Common Stock of the Company
---------------
currently held by the Founders and the Investors, any Common Stock subsequently
acquired by such persons (other than Common Stock issued or issuable upon
conversion of Series A Preferred Stock), and any Common Stock issued or issuable
with respect to such Common Stock upon any stock splits, stock dividends or
similar distributions.
(e) "Holder" shall mean any holder of outstanding Registrable
------
Securities which have not been sold to the public, but only if such holder is an
Investor (or,
{PAGE}
solely with regard to Sections 7, 11 and 14, a Founder) or an assignee or
transferee of Registration rights as permitted by Section 17.
(f) "Initiating Holders" shall mean Holders who in the aggregate hold
------------------
at least forty percent (40%) of the Registrable Securities.
(g) "Material Adverse Event" shall mean an occurrence having a
----------------------
consequence that either (a) is materially adverse as to the business,
properties, prospects or financial condition of the Company or (b) is reasonably
foreseeable, has a reasonable likelihood of occurring, and if it were to occur
would materially adversely affect the business, properties, prospects or
financial condition of the Company.
(h) The terms "Register", "Registered" and "Registration" refer to a
-------- ---------- ------------
registration effected by preparing and filing a registration statement in
compliance with the Securities Act ("Registration Statement"), and the
declaration or ordering of the effectiveness of such Registration Statement.
(i) "Registrable Securities" shall mean all Common Stock of the
----------------------
Company issued or issuable upon conversion of the Company's Series A Preferred
Stock purchased by or issued to the Investors, including Common Stock issued
pursuant to stock splits, stock dividends and similar distributions with respect
to such shares, and any securities of the Company granted registration rights
pursuant to Section 12 of this Agreement, provided that such shares have not
previously been sold to the public. For purposes of the registration rights
granted to holders of Company securities pursuant to Section 7 hereof and for
purposes of the obligations imposed upon holders of Registrable Securities under
Sections 11 and 14, but not for the definition of Initiating Holders,
"Registrable Securities" shall include Founders' Stock.
(j) "Registration Expenses" shall mean all expenses incurred in
---------------------
complying with Sections 6 or 7 of this Agreement, including, without limitation,
all federal and state registration, qualification and filing fees, printing
expenses, fees and disbursements of counsel for the Company, blue sky fees and
expenses, and the expense of any special audits incident to or required by any
such registration, other than Selling Expenses.
(k) "Securities Act" shall mean the Securities Act of 1933, as
--------------
amended, or any similar federal statute, and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time.
(l) "Selling Expenses" shall mean all underwriting discounts and
----------------
selling commissions applicable to the sale of Registrable Securities pursuant to
this Agreement, as well as fees and disbursements of legal counsel for the
selling Holders.
2. Information Rights.
------------------
2.1 Financial Statements. The Company shall deliver to the Investors
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as soon as practicable after the end of each fiscal year of the Company, and in
any event without 120 days thereafter, an audited consolidated balance sheets of
the Company as of the end of such year and audited consolidated statements of
income, shareholders' equity and cash flows for such year, which year-end
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