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EXHIBIT 10.20
AMENDMENT NO. 2 TO
AMENDED AND RESTATED
SHAREHOLDERS AGREEMENT
ARRAY BIOPHARMA INC.
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AMENDMENT NO. 2 TO
AMENDED AND RESTATED SHAREHOLDERS AGREEMENT
This Amendment No. 2 to Amended and Restated Shareholders Agreement
(this "Amendment") is entered into as of the 31st day of August, 2000, by and
among Array BioPharma Inc., a Delaware corporation (the "Company") and each of
those persons listed on the signature pages hereto as either "Investors",
"Founders" or "Holders".
RECITALS
A. The Company, Founders and certain Investors and Holders
previously entered into that certain Amended and Restated
Shareholders Agreement, dated as of November 16, 1999 (as
amended heretofore, the "Shareholders Agreement").
B. The Company, certain Investors and Founders have entered into
that certain Series C Preferred Stock Purchase Agreement,
dated of even date herewith (the "Purchase Agreement"),
pursuant to which the Company will issue and sell, and the
Investors and Founders will purchase, certain shares of the
Company's Series C Preferred Stock (the "Stock").
C. As a condition to the closing of the purchase of the Stock
under the Purchase Agreement, the Company, Investors, Founders
and Holders desire to amend the Shareholders Agreement as
provided herein.
D. The Investors and Founders acknowledge that the Company has
complied with its obligations under Section 3 of the
Shareholders Agreement relating to Rights of First Refusal in
connection with the issuance of the Stock under the Purchase
Agreement and waive such right solely in connection with the
issuance of Stock under the Purchase Agreement.
Now, Therefore, in consideration of the foregoing, the mutual covenants
and agreements herein contained and other good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, the parties hereby agree
that the Shareholders Agreement shall be amended as follows:
AMENDMENTS
1. In Section 1 of the Shareholders Agreement, the definition of "Preferred
Stock" shall be amended in its entirety to read as follows:
"Preferred Stock" shall mean any series of preferred stock of
the Company, including, without limitation, the Series A Preferred
Stock, the Series B Preferred Stock and Series C Preferred Stock.
2. In Section 1 of the Shareholders Agreement, the following definition shall be
added:
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"Series C Preferred Stock" shall mean the Series C Preferred
Stock, $0.001 par value per share, of the Company, or any other capital
stock of the Company into which such stock is reclassified or
reconstituted or any securities convertible into, or exchangeable or
exercisable for, any of the foregoing, in each case, at any time
outstanding.
3. Section 2.2(a) of the Shareholders Agreement shall be amended in its entirety
to read as follows:
2.2 Right of First Offer.
(a) If at any time, other than pursuant to an Exempt Transfer,
any Shareholder or their Related Party (each, a "Seller") desires to
Transfer any or all of the Shares or any rights to Shares held by such
Seller to any person, such Seller shall reduce to writing the terms
pursuant to which Seller desires to Transfer such Shares (a "Transfer
Offer"). The Transfer Offer shall identify the number of Shares to be
transferred, the consideration for the Shares, the identity of any
third party offeror, and all the other terms and conditions of such
Transfer Offer. The Seller shall deliver the Transfer Offer to the
Company, Founders and Investors. Notwithstanding anything to the
contrary contained herein, for any Transfer by an Investor or Founder,
or their Exempt Transferees, of:
(i) Series A Preferred Stock, the rights set forth in this
Section 2.2 shall be limited to Transfer Offerees holding Series
A Preferred Stock;
(ii) Series B Preferred Stock, the rights set forth in this
Section 2.2 shall be limited to Transfer Offerees holding Series
B Preferred Stock; or
(iii) Series C Preferred Stock, the rights set forth in this
Section 2.2 shall be limited to Transfer Offerees holding Series
C Preferred Stock.
Notwithstanding anything to the contrary contained herein, Section 2.3
shall not apply to any such Transfer of Series B Preferred Stock or
Series C Preferred Stock.
MISCELLANEOUS
1. Interpretation. Except as expressly amended by this Amendment, the
Shareholders Agreement shall remain in full force and effect without change.
2. Counterparts. This Amendment may be executed in any number of counterparts,
each of which when executed and delivered shall be an original, but all of which
together shall constitute one and the same instrument.
3. Effective Time. This Amendment shall be effective following its execution by
the Founders who hold two-thirds of the Shares (as defined in the Shareholders
Agreement) held by
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the Founders, the Investors who hold two-thirds of the Shares (as defined in the
Shareholders Agreement) held by the Investors and Holders who hold 51% of the
Shares (as defined in the Shareholders Agreement) held by Holders, each voting
as a class, in accordance with Section 7.1 of the Shareholders Agreement.
4. Additional Investors. Each party who purchases Stock pursuant to the Purchase
Agreement agrees to be bound by the terms of the Shareholders Agreement and
shall be deemed an additional "Investor" for all purposes thereunder.
[signature pages follow]
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IN WITNESS WHEREOF, the parties have executed this Amendment No. 2 to
Amended and Restated Shareholders Agreement as of the date first above written.
COMPANY: FOUNDERS:
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
ARRAY BIOPHARMA INC. -------------------------------
▇▇▇▇▇ ▇▇▇▇▇▇▇, Ph.D.
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
----------------------------------------- /s/ ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇▇, Chief Executive Officer -------------------------------
▇▇▇▇▇ ▇▇▇▇, Ph.D.
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Ph.D.
/s/ ▇.▇. ▇▇▇▇▇▇▇▇
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▇.▇. ▇▇▇▇▇▇▇▇, Ph.D.
INVESTORS:
▇▇▇▇▇▇▇ HEALTHCARE II, L.P.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Title: General Partner
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ARCH VENTURE FUND III, L.P.
By: Arch Venture Partners, LLC,
its General Partner
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
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Title: Managing Director
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ROVENT II LIMITED PARTNERSHIP
By: Advent International Limited Partnership,
its General Partner
By: Advent International Corporation,
its General Partner
By: /s/ ▇▇▇▇▇ FISHERMAN
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Name: ▇▇▇▇▇ Fisherman
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Title: V.P.
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MITSUI & CO. (U.S.A.), INC.
By: /s/ YOUICHIRO ENDO
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Name: Youichiro Endo
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Title: General Manager
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FALCON TECHNOLOGY PARTNERS, L.P.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, General Partner
BOULDER VENTURES II, L.P.
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇▇▇, General Partner
BOULDER VENTURES II, ANNEX L.P.
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇▇▇, General Partner
THE ▇▇▇▇▇▇▇▇▇ FAMILY, L.L.C.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, Ph.D., Manager
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VECTOR LATER-STAGE EQUITY FUND II, L.P.
By: Vector Fund Management II, L.L.C., its
General Partner
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Print Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Title: Managing Director
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VECTOR LATER-STAGE EQUITY FUND II (Q.P.), L.P.
By: Vector Fund Management II, L.L.C., its
General Partner
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Print Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Title: Managing Director
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MOSAIX VENTURES, LP
By: Mosaix Ventures Management, LLC, its
General Partner
By: /s/ ▇▇▇▇▇▇ ▇▇▇
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▇▇▇▇▇▇ ▇▇▇, Managing Partner
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HOLDERS:
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/s/ CHAN ▇▇▇ ▇▇▇▇▇
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/s/ GUY P.A. VIGERS
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GUY P.A. VIGERS
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▇▇▇▇▇▇ MONEY
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▇▇▇▇▇ ▇▇▇▇▇▇▇ A.K.
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