EXHIBIT 99.3
AFFILIATE AGREEMENT
This Affiliate Agreement ("Affiliate
Agreement") is being executed and delivered as of __________ __, 2000 by
________________ ("Stockholder") in favor of and for the benefit
of Exelixis, Inc., a Delaware corporation ("Parent").
Recitals
A. Stockholder is a stockholder of, and is an officer
and/or director of, Agritope, Inc., a Delaware corporation (the
"Company").
B. Parent, the Company and Athens Acquisition
Corp., a wholly owned subsidiary of Parent ("Merger Sub"), have
entered into an Agreement and Plan of Merger and Reorganization dated as of
August 7, 2000 (the "Reorganization Agreement"), providing for the
merger of Merger Sub into the Company (the "Merger"). The
Reorganization Agreement contemplates that, upon consummation of the Merger, (i)
holders of shares of the capital stock of the Company will receive shares of
common stock of Parent ("Parent Common Stock") in exchange for their
shares of capital stock of the Company and (ii) the Company will become a wholly
owned subsidiary of Parent. It is accordingly contemplated that Stockholder
will receive shares of Parent Common Stock in the Merger.
C. Stockholder understands that the Parent Common
Stock being issued in the Merger will be issued pursuant to a registration
statement on Form S-4, and that Stockholder may be deemed an
"affiliate" of Parent as such term is defined for purposes of
paragraphs (c) and (d) of Rule 145 under the Securities Act of 1933, as amended
(the "Securities Act").
Agreement
Stockholder, intending to be legally bound, agrees as follows:
- Representations and Warranties
of Stockholder
. Stockholder represents and warrants to Parent as
follows:
- Stockholder is the holder and "beneficial
owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934,
as amended) of the number of outstanding shares of capital stock of the Company
set forth beneath Stockholder's signature on the signature page hereof (the
"Company Shares"), and Stockholder has good and valid title to the
Company Shares, free and clear of any liens, pledges, security interests,
adverse claims, equities, options, proxies, charges, encumbrances or
restrictions of any nature. Stockholder has the sole right to vote and to
dispose of the Company Shares.
- Stockholder is the holder of options to purchase the
number of shares of capital stock of the Company set forth beneath Stockholder's
signature on the signature page hereof (the "Company Options"), and
Stockholder has good and valid title to the Company Options, free and clear of
any liens, pledges, security interests, adverse claims, equities, options,
proxies, charges, encumbrances or restrictions of any nature.
- Stockholder is the holder of warrants to purchase the
number of shares of capital stock of the Company set forth beneath Stockholder's
signature on the signature page hereof (the "Company Warrants").
Stockholder has good and valid title to the Company Warrants, as the case may
be, free and clear of any liens, pledges, security interests, adverse claims,
equities, options, proxies, charges, encumbrances or restrictions of any
nature.
- Stockholder does not own, of record or beneficially,
directly or indirectly, any securities of the Company other than the Company
Shares, Company Options and Company Warrants.
- Stockholder has carefully read this Affiliate Agreement
and, to the extent Stockholder felt necessary, has discussed with counsel the
limitations imposed on Stockholder's ability to sell, transfer or otherwise
dispose of the Company Shares, Company Options, Company Warrants, the shares of
Parent Common Stock that Stockholder is to receive in the Merger (the
"Parent Shares") and the options to purchase shares of Parent Common
Stock that Stockholder is to receive in respect of the Company Options in
connection with the Merger. Stockholder fully understands the limitations this
Affiliate Agreement places upon Stockholder's ability to sell, transfer or
otherwise dispose of securities of the Company and securities of
Parent.
- Stockholder understands that the representations,
warranties and covenants set forth in this Affiliate Agreement will be relied
upon by Parent and its counsel and accountants for purposes of determining
whether Parent should proceed with the Merger.
- Prohibitions Against
Transfer
. Stockholder agrees that Stockholder shall not effect any
sale, transfer or other disposition of any Parent Shares unless:
- such sale, transfer or other disposition is effected
pursuant to an effective registration statement under the Securities
Act;
- such sale, transfer or other disposition is made in
conformity with the requirements of Rule 145 under the Securities Act, as
evidenced by a broker's letter and a representation letter executed by
Stockholder (satisfactory in form and content to Parent) stating that such
requirements have been met;
- counsel reasonably satisfactory to Parent shall have
advised Parent in a written opinion letter (satisfactory in form and content to
Parent), upon which Parent may rely, that such sale, transfer or other
disposition will be exempt from the registration requirements of the Securities
Act; or
- an authorized representative of the SEC shall have
rendered written advice to Stockholder to the effect that the SEC would take no
action, or that the staff of the SEC would not recommend that the SEC take
action, with respect to such proposed sale, transfer or other disposition, and a
copy of such written advice and all other related communications with the SEC
shall have been delivered to Parent.
- Stop Transfer Instructions;
Legend
.
Stockholder acknowledges and agrees that (a) stop transfer
instructions will be given to Parent's transfer agent with respect to the Parent
Shares, and (b) each certificate representing any of such shares shall bear a
legend identical or similar in effect to the following legend (together with any
other legend or legends required by applicable state securities laws or
otherwise):
"THE SHARES REPRESENTED BY THIS CERTIFICATE WERE ISSUED
IN A TRANSACTION TO WHICH RULE 145(d) OF THE SECURITIES ACT OF 1933 APPLIES AND
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR
HYPOTHECATED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SUCH RULE AND IN
ACCORDANCE WITH THE TERMS OF AN AGREEMENT DATED AS OF AUGUST ___, 2000, BETWEEN
THE REGISTERED HOLDER HEREOF AND THE ISSUER, A COPY OF WHICH IS ON FILE AT THE
PRINCIPAL OFFICES OF THE ISSUER."
- Independence of
Obligations
. The covenants and obligations of Stockholder set forth
in this Affiliate Agreement shall be construed as independent of any other
agreement or arrangement between Stockholder, on the one hand, and the Company
or Parent, on the other. The existence of any claim or cause of action by
Stockholder against the Company or Parent shall not constitute a defense to the
enforcement of any of such covenants or obligations against
Stockholder.
- Specific Performance
.
Stockholder agrees that in the event of any breach or threatened breach by
Stockholder of any covenant, obligation or other provision contained in this
Affiliate Agreement, Parent shall be entitled (in addition to any other remedy
that may be available to Parent) to: (a) a decree or order of specific
performance or mandamus to enforce the observance and performance of such
covenant, obligation or other provision; and (b) an injunction restraining
such breach or threatened breach. Stockholder further agrees that neither
Parent nor any other person or entity shall be required to obtain, furnish or
post any bond or similar instrument in connection with or as a condition to
obtaining any remedy referred to in this Section 5, and Stockholder irrevocably
waives any right he may have to require the obtaining, furnishing or posting of
any such bond or similar instrument.
- Other Agreements
.
Nothing in this Affiliate Agreement shall limit any of the rights or remedies of
Parent under the Reorganization Agreement, or any of the rights or remedies of
Parent or any of the obligations of Stockholder under any agreement between
Stockholder and Parent or any certificate or instrument executed by Stockholder
in favor of Parent; and nothing in the Reorganization Agreement or in any other
agreement, certificate or instrument shall limit any of the rights or remedies
of Parent or any of the obligations of Stockholder under this Affiliate
Agreement.
- Notices
. Any notice
or other communication required or permitted to be delivered to Stockholder or
Parent under this Affiliate Agreement shall be in writing and shall be deemed
properly delivered, given and received when delivered to the address or
facsimile telephone number set forth beneath the name of such party below (or to
such other address or facsimile telephone number as such party shall have
specified in a written notice given to the other party):
If to Parent or Merger Sub: |
|
Exelixis, Inc.
170 Harbor Way
South San Francisco, CA 94083
Attn: Chief Financial Officer
Facsimile: (650) 837-8300
Athens Acquisition Corp.
c/o Exelixis, Inc.
170 Harbor Way
South San Francisco, CA 94083
Attn: Chief Financial Officer
Facsimile: (650) 837-8300
In each case with a copy to:
Cooley Godward llp
Five Palo Alto Square
3000 El Camino Real
Palo Alto, CA 94306
Attn: Robert L. Jones and Suzanne Sawochka Hooper
Facsimile: (650) 849-7400
|
- Severability
. If any
provision of this Affiliate Agreement or any part of any such provision is held
under any circumstances to be invalid or unenforceable in any jurisdiction, then
(a) such provision or part thereof shall, with respect to such circumstances and
in such jurisdiction, be deemed amended to conform to applicable laws so as to
be valid and enforceable to the fullest possible extent, (b) the invalidity or
unenforceability of such provision or part thereof under such circumstances and
in such jurisdiction shall not affect the validity or enforceability of such
provision or part thereof under any other circumstances or in any other
jurisdiction and (c) the invalidity or unenforceability of such provision or
part thereof shall not affect the validity or enforceability of the remainder of
such provision or the validity or enforceability of any other provision of this
Affiliate Agreement. Each provision of this Affiliate Agreement is separable
from every other provision of this Affiliate Agreement, and each part of each
provision of this Affiliate Agreement is separable from every other part of such
provision.
- Applicable Law;
Jurisdiction
. THIS AFFILIATE AGREEMENT IS MADE UNDER, AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF DELAWARE APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED SOLELY THEREIN, WITHOUT GIVING EFFECT TO
PRINCIPLES OF CONFLICTS OF LAW. In any action between or among any of the
parties, whether arising out of this Affiliate Agreement or otherwise,
(a) each of the parties irrevocably and unconditionally consents and
submits to the exclusive jurisdiction and venue of the state and federal courts
located in the State of California; (b) if any such action is commended in
a state court, then, subject to applicable law, no party shall object to the
removal of such action to any federal court located in the Northern District of
California; (c) each of the parties irrevocably waives the right to trial
by jury; and (d) each of the parties irrevocably consents to service of
process by first class certified mail, return receipt requested, postage
prepared, to the address at which such party is to receive notice in accordance
with Section 7.
- Waiver; Termination
.
No failure on the part of Parent to exercise any power, right, privilege or
remedy under this Affiliate Agreement, and no delay on the part of Parent in
exercising any power, right, privilege or remedy under this Affiliate Agreement,
shall operate as a waiver of such power, right, privilege or remedy; and no
single or partial exercise of any such power, right, privilege or remedy shall
preclude any other or further exercise thereof or of any other power, right,
privilege or remedy. Parent shall not be deemed to have waived any claim
arising out of this Affiliate Agreement, or any power, right, privilege or
remedy under this Affiliate Agreement, unless the waiver of such claim, power,
right, privilege or remedy is expressly set forth in a written instrument duly
executed and delivered on behalf of Parent; and any such waiver shall not be
applicable or have any effect except in the specific instance in which it is
given. If the Reorganization Agreement is terminated, this Affiliate Agreement
shall thereupon terminate.
- Captions
. The
captions contained in this Affiliate Agreement are for convenience of reference
only, shall not be deemed to be a part of this Affiliate Agreement and shall not
be referred to in connection with the construction or interpretation of this
Affiliate Agreement.
- Further Assurances
.
Stockholder shall execute and/or cause to be delivered to Parent such
instruments and other documents and shall take such other actions as Parent may
reasonably request to effectuate the intent and purposes of this Affiliate
Agreement.
- Entire Agreement
.
This Affiliate Agreement, the Reorganization Agreement and any Voting Agreement
or Noncompetition Agreement between Stockholder and Parent collectively set
forth the entire understanding of Parent and Stockholder relating to the subject
matter hereof and thereof and supersede all other prior agreements and
understandings between Parent and Stockholder relating to the subject matter
hereof and thereof.
- Non-Exclusivity
. The
rights and remedies of Parent hereunder are not exclusive of or limited by any
other rights or remedies which Parent may have, whether at law, in equity, by
contract or otherwise, all of which shall be cumulative (and not alternative).
- Amendments
. This
Affiliate Agreement may not be amended, modified, altered or supplemented other
than by means of a written instrument duly executed and delivered on behalf of
Parent and Stockholder.
- Assignment
. This
Affiliate Agreement and all obligations of Stockholder hereunder are personal to
Stockholder and may not be transferred or delegated by Stockholder at any time.
Parent may freely assign any or all of its rights under this Affiliate
Agreement, in whole or in part, to any other person or entity without obtaining
the consent or approval of Stockholder.
- Binding Nature
.
Subject to Section 16, this Affiliate Agreement will inure to the benefit of
Parent and its successors and assigns and will be binding upon Stockholder and
Stockholder's representatives, executors, administrators, estate, heirs,
successors and assigns.
- Survival
. Each of
the representations, warranties, covenants and obligations contained in this
Affiliate Agreement shall survive the consummation of the Merger.
Stockholder has executed this Affiliate Agreement on the date
first written above.
__________________________________________
(Signature)
__________________________________________
(Print Name)
Number of Outstanding shares of
Capital Stock of the Company
Held by Stockholder:
_______________________________
Number of shares of Capital Stock
of the Company Subject to Options
held by Stockholder:
_______________________________
Number of shares of Capital Stock
of the Company Subject to warrants
held by Stockholder:
_______________________________
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