CONFORMED COMPOSITE COPY
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MASTER RESTRUCTURING AGREEMENT
Dated as of June 19, 1998
Between
ASTRA AB,
MERCK& CO., INC.,
ASTRA MERCK INC.,
ASTRA USA, INC.,
KB USA, L. P.,
ASTRA MERCK ENTERPRISES INC.,
KBI SUB INC.,
MERCK HOLDINGS, INC.
and
ASTRA PHARMACEUTICALS, L. P.
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Confidential portions of this exhibit have been omitted and filed separately with the Securities and Exchange Commission with a request for confidential treatment pursuant to Rule 24 b-2. The location of an omitted portion is indicated by an asterisk within brackets ("[*]").
全文目录如下:
详细内容见附件
ARTICLE 2 EXECUTION OF AGREEMENTS; PRE-CLOSING EVENTS; CLOSING
2.1 Execution and Delivery of Initial Agreements
2.4 Actions to be Taken at the Closing
2.8 Termination of Certain Agreements
ARTICLE 3 CERTAIN OPERATIONAL PROVISIONS
3.1 Exclusive Distributorship Agreement.
3.3 Ownership of KBI, KBLP and Other Affiliates.
3.6 Outlicensing of Group D Compounds, KB USA Compounds and Group E Compounds.
3.7 Computation of Certain Contingent Amounts
3.10 Maintenance and Access to Books and Records
3.13 Notice of Events of Bankruptcy
3.14 Certain Actions in Respect of Contingent Amounts
3.17 KB Obligations in Respect of Certain Loans
3.19 Information Concerning Compounds
3.20 Determination of Critical Compounds
3.21 Preparation of Tax Returns and Financial Statements
ARTICLE 5 REPRESENTATIONS AND WARRANTIES
5.1 Representations and Warranties of TR and TR Holdings
5.2 Representations and Warranties of KB Parties
5.3 Representations Concerning KBI
6.2 Notification of Certain Matters. Between the date hereof and the Closing
ARTICLE 7 CONDITIONS TO CLOSING
7.1 Condition to Obligations of KB Parties
7.2 Condition to Obligations of TR Parties
7.3 Additional Condition to Certain Obligations of TR Parties
ARTICLE 8 GUARANTEES OF PERFORMANCE
8.4 Liability of Guarantor Unconditional
8.5 Direct Action Against a Guarantor
9.1 Binding Arbitration; Rules
10.3 Indemnification Procedures
ARTICLE 11 TERM AND TERMINATION
11.3 Exercise of KBI-E Asset Option and KBI Shares Option
12.1 Entire Agreement; Waiver or Modification
12.2 Third Party Beneficiaries
12.5 Binding Effect; Assignment
Schedule 1.1 Certain KB USA Products
Schedule 1.2 Classification of Combinations
Schedule 2.5 Closing Statements Schedule 3.2 (b) TR Joint Ventures
Schedule 3.7 Base Sales Weightings and Relative Sales Weightings
Schedule 3.8 Example of Computation of Inflation Adjustments
Schedule 3.15A Trigger Event: Certain Financial Calculations
Schedule 3.15B Trigger Event: Qualified Persons
Appendix I Ancillary Agreements
Exhibit A Form of Amended and Restated KBI License
Exhibit B Form of Distribution Agreement
Exhibit C Form of Exclusive Distributorship Agreement
Exhibit D Form of KB USA Asset Contribution Agreement
Exhibit E Form of KBI Asset Contribution Agreement
Exhibit F Form of KBI License Assignment and Assumption Agreement
Exhibit G Form of KBI Plan of Recapitalization
Exhibit H Form of KBI Shares Option Agreement
Exhibit I Form of KBI Sub Assignment and Assumption Agreement (#1)
Exhibit J Form of KBI Sub Assignment and Assumption Agreement (#2)
Exhibit K Form of KBI Supply Agreement
Exhibit L Form of KBI-E Asset Contribution Agreement
Exhibit M Form of KBI-E Asset Option Agreement
Exhibit N Form of KBLP Assignment and Assumption Agreement
Exhibit O Form of Manufacturing Agreement
Exhibit P Form of Partnership Agreement
Exhibit Q Form of Pledge Agreement
Exhibit R Form of Selected Compounds Contribution Agreement
Exhibit S Form of Trademark Rights Contribution Agreement
Exhibits T Form of Agreements rePermitted Transfers
Exhibit U Form of Clinical Supply Agreement
Exhibit V Form of KBI sublicense Agreement
Exhibits W Form of Security Agreement
MASTER RESTRUCTURING AGREEMENT
MASTER RESTRUCTURING AGREEMENT, dated as of June 19, 1998, between ASTRA AB, a company limited by shares organized and existing under the laws of Sweden ("KB"), MERCK& CO., INC., a New Jersey corporation ("TR"), ASTRA MERCK INC., a Delaware corporation ("KBI"), ASTRA USA, INC., a New York corporation and an indirect wholly-owned subsidiary of KB ("KB USA"), KB USA, L. P., a Delaware limited partnership of which KBIs the general partner and KB USA is the limited partner ("KBLP"), ASTRA MERCK ENTERPRISES INC., a Delaware corporation and a direct wholly-owned subsidiary of KBI ("KBI-E"), KBI SUB INC., a Delaware corporation and a direct wholly-owned subsidiary of KBI ("KBI Sub"), MERCK HOLDINGS, INC., a Delaware corporation and a direct wholly-owned subsidiary of TR ("TR Holdings"), and ASTRA PHARMACEUTICALS, L. P. (f/k/a KB Operating, L. P.), a Delaware limited partnership (the "Partnership").
WITNESSETH:
WHEREAS, KB and TR Holdings own all the outstanding shares of KBI;
WHEREAS, in the case of KB, such shares constitute (i) 50,000 shares of Class A Common Stock, par value$.01 per share ("Class A Common Stock"); (ii) one (1) share of Class C Common Stock, par value$.01 per share ("Class C Common Stock"); (iii) 187,500 shares of Class A Non-Voting Preferred Stock, par value$12,160 per share ("Class A Preferred Stock"); and (iv) 12,500 shares of Class C Voting Preferred Stock, par value$9,600 per share ("Class C Preferred Stock");
WHEREAS, in the case of TR Holdings, such shares constitute (i)50,000 shares of Class B Common Stock, par value$.01 per share ("Class B Common Stock"); (ii) 187,500 shares of Class B Non-Voting Preferred Stock, par value$12,160 per share ("Class B Preferred Stock"); and (iii) 12,500 shares of Class D Voting Preferred Stock, par value$9,600 per share ("Class D Preferred Stock");
WHEREAS, KBI is a joint venture of KB and TR formed pursuant to that certain Agreement dated as of July 12, 1982, among TR, KB, KB USA and KBI, as amended by the Transfer Consummation Agreement dated as of November 1, 1994, among TR, KB, and KBI (such agreement, as so amended, being referred to herein as the "1982 JV Agreement");
WHEREAS, pursuant to a Limited Partnership Agreement, dated as of October 21, 1997 (the "Original Partnership Agreement"), the Partnership has been formed and, contemporaneously with the execution and delivery of this Agreement, the partnership interests therein are being acquired by KBLP, as general partner, and KB USA, as limited partner;
WHEREAS, KB and TR desire to restructure their joint venture through the termination of the Original Partnership Agreement, the acquisition by KBI Sub of the limited partner's interest in the Partnership, including its status as limited partner, and the entry into the Partnership Agreement (as defined below) by KBLP and KBI Sub (upon its acquisition of the limited partnership interest in the Partnership), the capitalization of the Partnership and the modification of certain other contractual arrangements, as provided in the Initial Agreements (as defined below), the Partnership Agreement and the Ancillary Agreements (as defined below), and, in furtherance thereof, the parties hereto are entering into this Agreement and the other Initial Agreements (as applicable) as of the date hereof;
NOW, THEREFORE, in consideration of the premises and the representations, warranties and agreements contained herein and in the other Initial Agreements, the Partnership Agreement and the Ancillary Agreements, the parties hereto hereby agree as follows:
(a) Without limiting any other terms defined herein, as used in this Agreement the following terms shall have the following respective meanings:
"ABCV Compound" shall mean the Parenteral Form of (i) any Licensed Compound which is a Group C Compound, (ii) any Group D Compound or (iii) any Group E Compound that, in any such case, also has other routes of administration or has an antibiotic, anticancer or antiviral use.
"Accounting Procedures" shall have the meaning set forth in the Amended and Restated KBI License.
"Acquisition of KB" shall have the meaning set forth in Section 3.15 (b).
"Actual Formula Price" shall mean the actual Formula Price determined in accordance with the KBI-E Asset Option Agreement.
"Actual Formula Price Statement" shall have the meaning set forth in Section 3.15 (f).
"Additional KBLP GP" shall have the meaning set forth in Section 3.3 (f).