Exhibit 10.1
Certain identified information has been excluded from the exhibit because it is both (i) not material and (ii) is the type of information that the registrant treats as private or confidential. Double asterisks denote omissions.
RIGHTS SATISFACTION AGREEMENT
THIS RIGHTS SATISFACTION AGREEMENT (this “Agreement”) is made and entered into as of August 5, 2025 (the “Effective Date”), by and among PTC THERAPEUTICS, INC., a Delaware corporation (the “Company”), the Persons set forth on the signature pages to this Agreement (each, an “Executing Rightsholder” and collectively the “Executing Rightsholders”) and, for purposes of Section 1.2(b), Section 6.12 and Section 6.14 only, Shareholder Representative Services LLC, a Colorado limited liability company (“SRS”). Each of the Company and the Executing Rightsholders may be referred to herein, collectively, as the “Parties” and, individually, as a “Party.”
RECITALS
WHEREAS, on May 5, 2020, the Company, Hydro Merger Sub, Inc., a Delaware corporation, Censa Pharmaceuticals, Inc., a Delaware corporation (“Censa”), and SRS, entered into that an Agreement and Plan of Merger (the “Merger Agreement”);
WHEREAS, pursuant to Section 1.12(b) of the Merger Agreement, the Current Rightsholders (as defined below) are entitled to receive their respective share of Net Sales Payments upon the achievement of certain Net Sales Thresholds; and
WHEREAS, the Executing Rightsholders desire to cancel and forfeit their respective Net Sales Payment Rights (as defined below) in exchange for the consideration set forth herein, and the Company desires to pay a Pro Rata Share (as defined below) of such consideration to each Executing Rightsholder in exchange for such Executing Rightsholder’s cancellation and forfeiture of his, her or its respective Net Sales Payment Rights, upon the terms and subject to the conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the premises and of the mutual representations, warranties, covenants and agreements herein contained, and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the Parties, intending to be legally bound, hereby agree as follows:
1
2
Additional Milestone Event | Additional Milestone Payment |
First occurrence of three (3) or less consecutive Calendar Year period in which aggregate Net Sales of Product are greater than $3,000,000,000. | $100,000,000 |
First occurrence of five (5) or less consecutive Calendar Year period in which aggregate Net Sales of Product are greater than $5,000,000,000. | $100,000,000 |
First occurrence of seven (7) or less consecutive Calendar Year period in which aggregate Net Sales of Product are greater than $7,000,000,000. | $100,000,000 |
First occurrence of nine (9) or less consecutive Calendar Year period in which aggregate Net Sales of Product are greater than $9,000,000,000. | $100,000,000 |
First occurrence of eleven (11) or less consecutive Calendar Year period in which aggregate Net Sales of Product are greater than $11,000,000,000. | $100,000,000 |
3
Each Executing Rightsholder hereby represents and warrants to the Company, severally and not jointly, as follows:
4
5
The Company represents and warrants to the Executing Rightsholders as follows:
6
7
8
(a)If to the Company: | With a required copy (which shall not constitute notice) to: |
PTC Therapeutics, Inc. 500 Warren Corporate Center Drive Warren, NJ 07059 Attn: Legal [**] | Morgan, Lewis & Bockius LLP |
(b)If to any Executing Rightsholder, to such Executing Rightsholder’s address as set forth on the signature pages hereto. | With a required copy (which shall not constitute notice) to: |
| Shareholder Representative Services LLC 950 17th Street, Suite 1400 Denver, CO 80202 Attn: Managing Director E-mail: [**] |
or to such other address as the person to whom notice is to be given may have specified in a notice duly given to the sender as provided herein. Such notice, request, claim, demand, waiver, consent, approval or other communication shall be deemed to have been given (i) as of the date so delivered or emailed, (ii) one
9
(1) Business Day after it is sent for next Business Day delivery via a reputable nationwide overnight courier service, (iii) four (4) Business Days after it is sent by registered or certified mail, and (iv) if given by any other means, shall be deemed given only when actually received by the addressees.
10
11
12
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”
[SIGNATURE PAGES TO FOLLOW]
13
IN WITNESS WHEREOF, the Parties have executed this Rights Satisfaction Agreement as of the day and year first written above.
COMPANY:
PTC THERAPEUTICS, INC.
By:/s/ Matthew Klein
Name:Matthew Klein
Title: Chief Executive Officer
For purposes of Section 1.2(b), Section 6.12 and Section 6.14 only:
SHAREHOLDER REPRESENTATIVE SERVICES LLC
By:/s/ Casey McTigue
Name:Casey McTigue
Title: Managing Director
[Signature Page to Rights Satisfaction Agreement]
[Signature Page for Individual EXECUTING RIGHTSHOLDERS]
IN WITNESS WHEREOF, each undersigned Executing Rightsholder has signed this Rights Satisfaction Agreement on the date set forth first below his or her signature. Furthermore, each undersigned Executing Rightsholder hereby instructs that its, his or her signature be held in escrow pending its automatic release (without any further action by the undersigned Executing Rightsholder) immediately upon execution of this Rights Satisfaction Agreement by PTC, at which time this Rights Satisfaction Agreement shall become effective as to the undersigned Executing Rightsholder.
Individual Executing Rightsholder | |
| |
[**]___________________________________ | ________________________________ |
Signature | Date |
| |
[**]___________________________________ | |
Name Printed | |
| |
[alternative Signature Page for Entity Executing Rightsholders Follows]
[Signature Page to Rights Satisfaction Agreement]
[Signature Page for EXECUTING RIGHTSHOLDERS WHO ARE NOT INDIVIDUALS]
IN WITNESS WHEREOF, each undersigned Executing Rightsholder has signed this Rights Satisfaction Agreement on the date set forth first below his or her signature. Furthermore, each undersigned Executing Rightsholder hereby instructs that its, his or her signature be held in escrow pending its automatic release (without any further action by the undersigned Executing Rightsholder) immediately upon execution of this Rights Satisfaction Agreement by PTC, at which time this Rights Satisfaction Agreement shall become effective as to the undersigned Executing Rightsholder.
ENTITY Executing Rightsholder
[**]
Print Entity Name(s)
Executed on behalf of the foregoing entity by the undersigned, as an authorized signatory of such entity or, as applicable, as an authorized signatory of the respective general partner or manager of such entity:
By: [**] Date:
Name: [**]
Title:
[Signature Page to Rights Satisfaction Agreement]
Schedule I
ShareholderSum of Payment Amount
[**][**]
DB1/ 152489893.13