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Document Preview Investor Rights Agreement [Amended and Restated] |
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Title: |
Investor Rights Agreement [Amended and Restated] |
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Entities: |
Barrier Therapeutics, Inc.; Johnson & Johnson; Johnson & Johnson Consumer Companies, Inc.; Johnson & Johnson Development Corp.; Cooley Godward LLP; Dechert LLP; O’Melveny & Myers; Paul, Weiss, Rifkind, Wharton & Garrison |
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Date: |
2004 |
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Size: |
Preview shows 13KB of 109KB total |
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Price: |
$66 |
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ID: |
#286385 |
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BARRIER THERAPEUTICS, INC.
AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
{S} {C}
ARTICLE 1 GENERAL................................................................................... 1
1.1 Certain Definitions........................................................................... 1
ARTICLE 2 REGISTRATION.............................................................................. 4
2.1 Demand Registration........................................................................... 4
2.2 Piggyback Registrations....................................................................... 6
2.3 Form S-3 Registration......................................................................... 6
2.4 Initial Public Offering....................................................................... 8
2.5 Expenses of Registration...................................................................... 8
2.6 Obligations of the Company.................................................................... 8
2.7 Furnishing Information........................................................................ 11
2.8 Indemnification............................................................................... 11
2.9 Assignment of Registration Rights............................................................. 13
2.10 Amendment of Registration Rights.............................................................. 13
2.11 Limitation on Subsequent Registration Rights.................................................. 14
2.12 "Market Stand-Off" Agreement; Agreement to Furnish Information................................ 14
2.13 Rule 144 Reporting............................................................................ 15
2.14 Termination of Registration Rights............................................................ 15
ARTICLE 3 COVENANTS................................................................................. 15
3.1 Basic Financial Information and Reporting..................................................... 15
3.2 Inspection Rights............................................................................. 16
3.3 Confidentiality of Records.................................................................... 17
3.4 Directors' Liability and Indemnification...................................................... 17
3.5 Indemnification............................................................................... 17
3.6 Termination of Covenants...................................................................... 17
ARTICLE 4 PREEMPTIVE RIGHT OF PURCHASE.............................................................. 18
4.1 Subsequent Offerings.......................................................................... 18
4.2 Exercise of Preemptive Rights................................................................. 18
4.3 Issuance of Equity Securities to Other Persons................................................ 19
4.4 Termination and Waiver of Preemptive Right.................................................... 19
{/TABLE}
i
{PAGE}
TABLE OF CONTENTS
(continued)
{TABLE}
{CAPTION}
PAGE
{S} {C}
4.5 Assignment of Preemptive Rights............................................................... 19
4.6 Excluded Securities........................................................................... 19
ARTICLE 5 MISCELLANEOUS............................................................................. 20
5.1 Governing Law................................................................................. 20
5.2 Jurisdiction.................................................................................. 20
5.3 Survival...................................................................................... 20
5.4 Successors and Assigns........................................................................ 20
5.5 Entire Agreement.............................................................................. 21
5.6 Severability.................................................................................. 21
5.7 Amendment and Waiver.......................................................................... 21
5.8 Delays or Omissions........................................................................... 21
5.9 Notices....................................................................................... 22
5.10 Headings...................................................................................... 22
5.11 Counterparts.................................................................................. 22
{/TABLE}
ii
{PAGE}
AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT
This AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the
"Agreement") is entered into as of this 23 day of October, 2003, by and among
Barrier Therapeutics, Inc., a Delaware corporation (the "Company"), and the
Investors listed on Exhibit A hereto (collectively, the "Investors," and each as
"Investor").
RECITALS
WHEREAS, the Company, the holders (the "Series A Investors")
of the Company's Series A Convertible Preferred Stock (the "Series A Preferred
Stock") and the holders (the "Series B Investors") of the Company's Series B
Convertible Preferred Stock (the "Series B Preferred Stock") have entered into
that certain Investor Rights Agreement dated as of May 7, 2002 (the "Original
Investor Rights Agreement"), pursuant to which the Company has granted
registration rights and certain other rights to the Series A Investors and the
Series B Investors;
WHEREAS, pursuant to that certain Series C Securities
Acquisition Agreement of even date herewith (the "Series C Securities
Acquisition Agreement") between the Company and the Purchasers identified
therein (the "Series C Investors"), the Series C Investors are purchasing shares
of the Company's Series C Convertible Preferred Stock (the "Series C Preferred
Stock");
WHEREAS, in order to induce the Series C Investors to purchase
the Series C Preferred Stock, the Company, the Series A Investors and the Series
B Investors have agreed to amend and restate the Original Investor Rights
Agreement in its entirety to grant registration rights and certain other rights
to the Series A Investors, Series B Investors and Series C Investors as herein
provided; and
WHEREAS, this Agreement amends and restates in its entirety
the Original Investor Rights Agreement.
NOW, THEREFORE, in consideration of the mutual promises,
representations, warranties, covenants and conditions set forth herein, the
parties mutually agree as follows:
ARTICLE 1
GENERAL
1.1 Certain Definitions. As used in this Agreement the following
terms shall have the following meanings:
"Affiliate", as applied to any individual or entity, shall
mean an individual or entity directly or indirectly (through one or more
intermediaries) controlling, controlled by or under common control with the
first individual or entity. As applied to an individual, "Affiliate" shall
include any member of such individual's immediate family or any trust for the
benefit of such family member or individual and as applied to any entity,
"Affiliate" shall include any
{PAGE}
subsidiary, parent, member, limited partner, general partner, entity under
common control of such general partner or its members, partners or stockholders.
"Amended Certificate" means the Company's Amended and Restated
Certificate of Incorporation.
"Common Stock" means the Company's authorized common stock
with $0.0001 par value per share.
"Exchange Act" means the Securities Exchange Act of 1934, as
amended, or any successor Federal statute in effect, and the rules and
regulations of the SEC promulgated thereunder, all as the same may from time to
time be in effect.
"Form S-3" means such form promulgated under the Securities
Act as in effect on the date hereof or any successor registration form under the
Securities Act subsequently adopted by the SEC which permits inclusion or
incorporation of substantial information by reference to other documents filed
by the Company with the SEC.
"Holder" means any Person owning of record Registrable
Securities that have not been sold to the public or any assignee of record of
such Registrable Securities in accordance with Section 2.10 hereof.
"Initial Public Offering" means the Company's first firm
commitment underwritten public offering of its Common Stock registered under the
Securities Act.
"Other Shares" shall mean at any time those shares of Common
Stock which do not constitute Primary Shares or Registrable Securities.
"Person" shall be construed in the broadest sense and means
and includes a natural person, a partnership, a corporation, an association, a
joint stock company, a limited liability company, a trust, a joint venture, an
unincorporated organization and any other entity and any federal, state,
municipal, foreign or other government, governmental department, commission,
board, bureau, agency or instrumentality, or any private or public court or
tribunal.
"Primary Shares" shall mean, at any time, the authorized but
unissued shares of Common Stock or Common Stock held by the Company in its
treasury.
"Qualified Public Offering" means an underwritten public
offering on a firm commitment basis pursuant to an effective registration
statement filed pursuant to the Securities Act (other than on Form S-4 or S-8 or
any successor forms thereto) covering the offer and sale of Common Stock for the
account of the Company in which the aggregate net proceeds to the Company are at
least $50,000,000 (calculated after deducting underwriters' commissions and
other offering expenses) and in which the price per share equals or exceeds
$7.80 (such price subject to equitable adjustment in the event of any stock
split, stock dividend, combination, reorganization, reclassification or other
similar event; provided that the Common Stock is listed for trading on either
the New York Stock Exchange or the Nasdaq National Market).
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